Corp. Downgraded we will debate on call of the day. The Investment Committee is ready to go. The Halftime Report starts right now. And it is good to have you with us today. Our Investment Committee here, jim lavin all this, jon fortt. Dave wise, jen, liz young is back also with us on set today is ed. Lets begin with the rally stocks hitting record highs today. The dow closing above 29,000 is it time to buy or is it time to worry, liz . I am an incurable optimist. Not really ever time to worry that much. I say this all the time. You must be present to win i always believe you should be in the market. I still think there are places you can buy stocks josh brown, big friend of the show, i think he posted on twitter yesterday the market isnt even due for anything. We shouldnt pay so much attention to the calendar or the fact that it has been a long time or things have gone on to a long time. You have got Pay Attention to valuation right . Not as much as we used to i dont even know. With Monetary Policy support and the macro tail winds we have had to this point it doesnt matter as much. If we paid attention to valuation value should have outperformed growth over the last five years. What do you think about that statement . He had bank of America Today says s p p e to growth airbnbee is at an alltime high i look at the forward p e it is back to where it was in january of 2018. We know what happened, we had a slide there. The market be that prone to panic attacks. I counted 65 of them not all of them are bona fide corrections, at 10 or 15 . We have only had six of those. But the idea this economy is going to fall into esession, lets get out i am watching valuation. It is high, whether you look at a buffett ratio which looks at the price to sales basically of the market that is at an alltime high if you look at it on a weekly basis. I am concerned about that. What i am earned about is the market has gotten ahead of earnings, the fundamentals i am an optimist as well and i agree that you have to be in it to win it is another way to put it but i would like this market to take a pause here for a while and let earnings catch up. What is really good so far in this earnings season is in the Fourth Quarter it locks like we had good earnings in the financials, and the semiconductors is are getting upgraded life is good. Liz keeps it simple is it that simple . As long as the fed is around, as long as the feds is your friend. All of this fretting over valuation and how far stocks have come in such a short period of time doesnt matter. Agree that it is simple. To me it is momentum we had questions on the desk just a few days ago. If the banks dont perform, is that going to hurt the market . Are they priced to perfection . We had mixed earnings from banks. Bank of america didnt do so well, wells fargo cant count them because they friendially disappoint goldman sachs, it was a good quarter. Then Morgan Stanley, which was good it was mixed i dont think the market didnt care i think the market can take those kinds of one offs and still do well because people are looking for earnings to grow, to grow into the multiple i am not so sure that happens but i think it is six months or so before you really have to declare on that. Right now the news is good there is never anything you can foresee thats going to cause the market to correct. No but the other day we are saying okay can the dow jenny close above 29,000 now we are 200 points above that level. This market seems to be mostly unabated. Right. Going up. Heres where i am i am in a Dividend Income strategy which does better in a bad market i root for bad markets and i like volt because it gives me something to buy this is painful. I look at 18 times and i want to come up with a negative comment but i cant. The primary answer is yeah i have got the fed at my back, earnings are growing beyond all of that i have nothing else to buy but stocks. Right . Bonds are not a great alternative for me, private equity is not a great alternative for me i look, and in my portfolio i have a i dont remember valuation because i do skew towards value so i am not really at 18 times. You are saying if earnings disappoint you say you cant make a bear case on anything it is hard. What if Earnings Growth is not as good as people think . I cant make a strongly plausible bear Case Scenario anyone can paint something, a black swan, yeah, earnings come out to be terrible but i dont see how that happens. May i yeah, of course. I apologize for cutting in. One of the models that actually looks good is a dividend yield model. We are at 1. 8 in the dividend yield in the market. Thats just about where the bond market is. It is competitive. When you use that yield with the fact that dividends keep growing and growing, they are at all time record highs you get a dividend market yield thats fairly valued. The justification there is no alternative, i have heard that before earnings dontert ma, fed is at your back, i have heard that before. I think when we are back to these levels before, in 06, 07, or 99 to 01. At least you could go to bonds if you wanted to now the best i can do is like 2 that is not compelling and it is not going to get people what they need to retire properly i think thats the biggest boost. Every morning i walked in and said i am going shave more adobe. I shaved some at 200. I said i am going to shave more. I cant to do it because why am i going to do it other than i want to shave it. Did you do any of it . At 300 i did i shaved some position. I trimmed apple this week, trimmed car vo two weeks ago i feel great about it. I still have a position. Are they all cash i am at the moment. Let me come back to that the point being is that we are wringing our hands about where the market is. Fine. Maybe we shouldnt be. My point is you dont have to these things, apple up over 100 in 12 1 2 months, i know we want to talk about tesla but the basic fact is it is up 100 in three months how can you not want to trim if you got into tesla yesterday i understand you are wringing your hands maybe you shouldnt have bought it yesterday but for most of us they have tremendous gains, they are overweight take a little bit off. In terms of when to buy, i see values all over the place. I can find values in tech, intel and cisco, in health care, krvs, pfizer energible ifs, down the list right now i like having cash because at some point i dont think you have a crash, of course not, but do you have a pullback thats where you buy i want to hear from scott, too, when you are done thats okay forgot you were here. Thats okay. Depends on your time frame on apple. Mine is not this quarter which i am worried about frankly on the iphones i think people are holding back for the 5g phone imlooking at two or three years. I did this math three days ago. Apple at 3 in the portfolio a year ago is now 4. 8 trim, bait to 3 . You talked about a stock like cisco. Yeah. Which is for all intents and purposes willing left behind in some respects in this rally . Keep coming. Right yeah. Why go to what has been doing nothing . It has been doing nothing over nine months thats a fact. Thats a long period of time when a lot of other thing are going up. Yes, but if you look at a five year chart of cisco, it is a darling. The little nine month thing here doesnt show up in a long run chart. They had a couple of quarters where they guided one penny below what the street expected one penny. The stock got clauterred honestly i think they are sandbagging when the quarter comes out you are going to see a shift from the hardware to the revenue. The Forward Guidance made sense when trade tensions were front and center who was buying server and big enterprise hardware. Now that it is back i think it goes up. Escalating trade war, we were all hearing about the impact of it people shifting supply chains all kinds of thing we know that doesnt happen with a snap of your fingers nonetheless, they were in those positions. Now that as i have heard it 500 billion to 600 billion worth. Impact that that was going to be negative on the market, now thats all at least released, does all of that come back into the market that would be my question for ed and liz, as strategists. Is if that big number is pushed back into the market with the low Interest Rates that jenny cited that she doesnt want to put into bonds anymore does that continue to lift this . My guess is yes, but you are strategists, i am a trader. Jenny, i wont interrupt you this time. No, thats okay last year was a tough year for earnings comparisons because we had the tax cut in 2018 we were up 20 in 2018, and we are up 1 last year. And of course the market performed completely in a contrary approach. Looking at this year i am looking for 5 Earnings Growth. Okay. But forward earnings by the way, which are pretty good at telling you where earnings will be a year if now, they are actually up 9 i am kind of leading to the thought that maybe the analysts are right, as long as there is no recession, thats the key to this market night doesnt feel like there is going to be in lets say not in the next six, eight, nine months who notes. It feels, liz, that this is a train that is heading towards s p 3,500. It seems like it is going that way. Is that this time to worry i ask you at top, when is the time to buy and to worry. If we get to 3,500, it is not going to be straight up. A correction without a recession is a buying opportunity. No, you dont get out of the market then to jims point, if you are colding cash thats dry powder, if we are have a correction and we are not worried about a recession you deploy your cash, then you look at valuations where you are deploying your cash if you want to trim winners, thats fine. Deploy it into things that are not winning as much. As far as is 3,500 the spot to worry about . Maybe it will be a mental threshold just like 2 on the tenyear is a mental threshold but it doesnt necessarily change anything. To the point in a mike wilson made on this desk you are looking like you are going to get to 3500. It its front loaded year because of the noise in the back half at 3500 maybe you have to start to think it is going to be messier, more volatile whats ahead of you now. Earnings season started off pretty good. I am going to have a problem with 3500 because last october i was saying we should get to 35700 by the end of this year. I have to look at my math again. Goes to my point at the beginning, redoing your numbers because you have no chase but to chase it up and up and up. Jeremy siegel mentioned he himself is getting a little nervous. Everybody is redoing their numbers, whether on the s p, whether it is on individual stocks. They have to, though, scott like i say 500billion, i kept hearing that number, 500 to 600 billion is the impact. Where does it come from from the trade war the impact of the trade war, of the shifting of supply campaigns and all the rest they were saying global gdp, Global Markets would be affected to the tune of 500 to 600 billion. Do i think all 600 billion goes pouring into apple yes. Just kidding but i think pours into the markets here and i think a lot of people are rejiggering their numbers based on that, scott, based on yesterday. I just dont i dont see that. Okay. You have this number thats out there. Supply chains arent going to they are moving. If you are smart and run a business you are moving away from china by the way, we have still got the ip issues, the partnership issues china is still a powder keg. And you have to conscious. But they are buying 200 billion of soy beans. I have been soft selling that phase one deal this morning i looked at that 200 bilds over four years i will take that. Thats a good deal for america. No dood. We have more wood to chop. I agree with you. Thats great, but in terms of the market if we get to 35 hung it is going to be to be in a vacuum the momentum and the earnings are going to be better than when i am looking for in order to get there. Why cant the multiple be 22, 24 times. We have been there before in the market in this kind of low market to me in europe and asia you are going to see the lowest gdp for china for 2019 in 30 years germany is still declining they have possibly fallen into recession. Particularly with the auto industry. Let me bring up an individual stock. It was mentioned on the desk and i want your thoughts the other day, apple gets downgraded to a sell today, from adam jonas at Morgan Stanley, tesla okay tesla is like the poster of this rally. Unabated to the upside tesla gets downgraded to underperform from equal weight we downgrade tesla shares on valuation, unfavorable risk reward and risk to the long term Chinese Business that may not be fully appreciated by the market. Before we dive into the individual name which you dont do but you do think about these things on the bigger level. Correct. When you see stocks like tesla and apple up 100 , tesla up 100 in three months, does that make you nervous . The central bankers really are behind all of this i mean this bull market since the beginning has really been all about the major central banks. We used to say dont fight the fed. Now we say dont fight the central bankers. As liz . Right i completely agree with liz. The fed increasing its Balance Sheet, the ecb 20 billion per month in euro is what they are purchasing they announced that in october of last year and the fed started to reverse course on its Balance Sheet a couple of months ago then the bank of japan just keeps going along on its merry way. Finally you have got to bank of japan continuing to cut their reserve requirement. There is an enormous a. Liquidity coming in the markets. The key here is the inflation numbers. The cpi came out, garden variety inflation number but thats critically important f. Inflation doesnt make a comeback Jerome Powell, the fed of the chair the chair fed i get them sometimes confused. Sure. As i just did what happens is Jerome Powell has said as of october of last year he is not going to do a thing as long as inflation stays moderate. Tesla, downgrade to sell. Are there other stocks we talked about the danger zone the other day, on the day of the apple downgrade, other stocks that were ripe for a move that you had to keep your eye on. Tesla was on our list. Yes. Sure enough, today from adam jonas. I have no problem with apples move, i have a problem with teslas move. I was having lunch the other day and i said heres my predixon tesla, in ten or 15 years it ends up being a Harvard Business case study on group sentiment. Earnings in 2023 might bring it to a 31 multiple, it is cuckoo it is rising on fumes. John is continuing to bet on the upside you only calls. You might be right. But long term. True. And as i said, scott, about tesla and about apple, to jims point, i didnt sell my stock in the case of apple. I held that, still my biggest holding. In the case of tesla, i did sell the stock. I have call spreads. When you can define your risk and stick with a stock that has gone vertical i think thats good risk reward and Risk Management on a day when the stock is down 3 or 4 today is that a bad thing . Sure was it a great thing for the last six months as it went from 180 to 530 three months, 100 in three months i am wondering more than that when you take it from july. I want to ask the same question i asked the other day i wanted to know, i want for us to inform people, who is going to be next qorvo is up the gains over a three month period of time are unbelievable for names like qorvo, better than 40 skyworks, the sometime, amd, 61 in three months. It is always dangerous to answer the question of whos next but i like danger, scott. I think the chip sector is where you have got look. You mentioned those names. A. M. D. Is up there, nvidia, these are Fabulous Companies but those two in particular trading at mid 30 multiples for chip stocks they are chip companies, highly intensity competitive business thats where i would definitely be lightening up. When people Start Talking about a new era and a brave new world thats where we want to worry. I dont see a lot of that talk yet. But i am about to say the market is starting a brave new world. Semiconductors are in everything they are, it is factual. Let me not i dont have state it those companies i think you should be trimming to your question whats in the danger zone. I am not saying nvidia and those guys out behind the wood shed and shoot them but trim them. Amd is mid 30s it was down in 19 land not that long ago trim these things. What more are you looking for . Analysts are looking for 80 from Western Digital from 65 i have that. Analysts are look for 65 from micron, it is up 60 in three months. They have earnings. Enough to justify that move in three months . Yes look at cisco, you can make a lot of money i bought Western Digital i paid 37 for it this week a year ago and on a 37 stock with 7 of earnings and a 2 dividend thats easy math here we are analysts are saying the earnings are not going to be 7 they are going to be 8. 50 that is based on money and cash thats flowing in going into peoplespockets. The price targets are being hit faster than people think the s p targets are being hit faster than people like ed expected they would. Bump either that or the individual stock price targets higher. When you worry about valuation it is all multiple expansion. If just the p is moving and the e is not, that could be a problem. In 2020 i think the e starts to pick up and the market has to look at fundamentals we dont think the fed is going to move this year. I mentioned there is a lot of Monetary Policy support. Mostly international the fed is probably not going to do it anymore. U. S. Has to look at fundamentals and this is a year when earnings go back to normal. Average earnings is 6 to 6. 25 on the s p right now it is redistricted to be 9. 4 for the full year it might come down but it is okay as long as we are above average. On the other side of the coin, looking at what is too expensive perhaps is trying to figure out what is too cheap some of you are making moves weiss, you added to qualcomm, to act my, you added to target which is amazing, you sthi target is still cheap. It had a pullback yesterday but it has had a stratospheric move heading into that. Three great quarters and a bad quarter in christmas because of what i call bulk gift Big Electronics and toys that quarter is done we are going to go back to solid performance. Why not . I added to it. It wasnt a big position to begin with qualcomm, as i talked about 5g so many times. Qualcomm i spoke to the company a couple of weeks ago. Versus 4g they will get 1. 5 times the dollar content on 5g phones thats big and qualcomm is still not we have a long time qualcomm bull here waiting for it to pull back i am not sure it does. I am not sure either. In terms of amai. I have seen work on the data that continues to go through the pipes. Globally it is there the traffic comes through, 4g, 5g or 3g they are positioned extremely well going into semis, i did work i talked about a dozen of those companies over the last month or month and a half i charted some that are in a portfolio i am looking at. They if you look at tenyear periods, tenyear period 3g, tenyear period 4g you will see the companies at the smash outperformed the s p by 1,000 basis points outperformed the nasdaq. There are some stocks in there that are up 1,000 , 750 it is not that unusual why would i sell that here particular chi when we are in a new age where so much more is going in Autonomous Cars, we talked about. Tesla over Autonomous Cars forget tesla Autonomous Cars are probably five years away. Buy the chips that go into it. Buy adi. Autonomous vehicles, most of us with these we are not going to notice the that much in the speed. Yes it will be faster. 100 times faster. For most of the apps we are using here so it is going to take a second and a half for me to see something on here instead of two and a half seconds into right. But to the Autonomous Car side that is critical. They said it over and over again, at ces last week. Thats truly where their benefit lie is for the heavy users of pull data like that. I have got to bounce. Take a break good to see you. Thanks for coming in heres what is coming up on the Halftime Report. Morgan stanley shares spike on earnings while u. S. Bank corp. Gets a downgrade our experts didnt the financials straight ahead. Plus we want to hear from you. The Investment Committeewill answer your questions in ask halftime. Go to cbs. Com halftime or tweet us the Halftime Report with scott wapner and the traders is back in two minutes i love the new myww program, because its tailored to you . Take the personal assessment and get matched with a proven weight loss plan. Find out which customized plan can make losing weight easier for you myww join for free and get two months free welcome back lets talk about a bearish call in the financials. U. S. Bank corp. Downgraded to underweight at jp morgan the firm saying it is a combination of underperformance and a premium valuation related to its peers any time you have got cell calls on popular groups it is time to start of stand up and take notice doc, what do you think sell u. S. Bank corp. , price target cut only by a couple bucks, 55. 50 from 58. Equity cut from nearly 16 to basically 12 thats a big drop, judge thats year over year but still thats a big drop. I expected them to be hit a lot more than this because of that and because their Net Interest Margin and other numbers werent exactly up to snuff. But you are not just getting the pullback in this one you got it in wells fargo. You had a nice little drop there. I think you could put on i didnt but i think you could put on a nice position there it is making an upside move today. But this one, it is not even reacting to the weakness here. Market is giving the heisman to the analyst on this one the stock is. The stock really hasnt done anything for a very long time. I know we have said that about financials but financials recently rallied and this the reason it is left behind is bankly because it is in nomansland. It is not big enough to be a Big Money Center bank or Investment Bank but it is not quite a Regional Bank either those are two secretariesors within the financials. Nobody knows what to make of this it is undersubscribed by the investing community. Lets talk about Morgan Stanley. Ned a big beat today that stock, doc, was looking beautiful . Yeah, and i think pete the other day, the 14th, just two days ago was talking about big upside call buying they caught the 56 calls that seemed like it was a real reach for the stock to get to 56 well, they are buying them for seven cents, judge, they went to 1. 20 today thats an explosion to the upside yeah. It is hard to see anything morgan didnt do right here and their Wealth Management is crushing it. I remember you and i talked about citi group and how they didnt have that component anymore because of the deal they did with Morgan Stanley. That is paying off for mr. Gorman in spades, that deal. You dont see stocks like this move 8 . Yeah. It is really an amazing move. Credit to gorman he had a strategy and stuck with it continues to be the way to go. I tell you, if you came into earnings season like jenny maybe looking for a pullback what have you got so far . Not getting it. You are not going to feel really good. No. Most others are you may not. This is the i with a ymorgan. If you look at the numbers historically every Earnings Period the companies that really miss are so maul on the margin, 65, 70 that meet earnings then more that beat but disappoint because they guide down during quarter. This quarter will be just like that no major surprise snooze we have been thinking that the numbers this quarter dont matter that much it is more about the guidance. Because 2019, done, we kind of know it was a lackluster year. So it is going to be the guidance as we go into earnings season if it can support that 10 Earnings Growth. Lets get to suu sioux for the headlines. Heres whats happening at this hour. We know what was said between the tense confrontation between senators spds and warren after the debate cnn released audio which reveals each accusing the other of labeling them a liar. I think you called me a liar on national television. What . I think you called me a liar on national tv. Lets not do it right now you want to have that discussion we will have that discussion you called me a liar you called me all right, lets not do it right now. Hong kongs Prime Minister says the one country two systems framework under which that city enjoys freedoms not held in china could be under fire. Demi lovato will be singing the National Anthem at the super bowl next month. The nfl made the announcement today. She is a Grammy Nominated singer, songwriter and actress you are up to date scott thats the news update this hour. Microsoft shares trading at alltime highs jim cramer sits down with the ceo tonight, 6 00 p. M. Eastern on mad money. We cannot wait for that. We will talk with jim next ahead of that cnbc interview watch us live or on the go on the cnbc app back after this. Hey, saved you a seat. This rounds on me. Hey, can you spot me . Come on in. Find your place today, with silversneakers. Included in most Medicare Advantage plans. Enroll today by calling the number on your screen or visit getsilversneakers. Com woi felt completely helpless. Hed online. My entire career and business were in jeopardy. I called reputation defender. Vo take control of your online reputation. Get your free reputation report card at reputationdefender. Com. Find out your online reputation today and let the experts help you repair it. Woman they were able to restore my good name. Vo visit reputationdefender. Com or call 18778668555. Shares of microsoft hitting new alltime highs today the stock is outperforming all of the f. A. N. G. S except for apple over the past year jim cramer speaks with microsofts Ceo Satya Nadella tonight. He joins us live from microsofts headquarters in redmond, washington. You have breaking news then we will talk about microsoft and satya. Microsoft will be carbon negative by 2030 what that mean is these guys are putting the hammer to everybody, suppliers, themselves, whatever is necessary to reverse whats going on for hundreds of years i think they can do it because remember they are a powerful force when it comes and to data centers. I think they can make an impact. This is real this is not green wash. Give us insight to the conversation you think you are going to have with satya tonight. I think we have to talk about how this company reinvented itself we have to talk about how he has decided these are the things we have to do in order to be a real and a good company you have got to make profit, make profit along the way of trying to make society better. It is interesting. This is not a Milton Friedman story. This is a company that is uniquely trying to i would say evolve its stripes of course we are going to find out about whats going on with azure which may be the Fastest GrowingLarge Company within a company in the world. The other day, jim, i heard you say on squawk on the street looking at the moves we have seen in the big popular mega tech stocks like apple not to buy you urged people not to buy it now to wait for earnings to see if the earnings justify the move do you need to have that same strategy when it comes to a stock like microsoft which has had its own fabulous move . Actually thats probably the only one that has run with a level of rigor that you can say it will still underpromise amy hood, the sfo has been around she is fabulous, been around for three decades. She has been able to project in a solid way what the company can do it is the only company i am least woerds around the trillion dollars stocks alphabet, i have no idea amazon have historically done a terrible job on report day alphabet they have gotten around okay microsoft has been reporting consistently and much better than expected. We are north of 29,200 on the dow. And the s p, too what are you feeling about the market today i went flew the 110 page of the contract between us and the chinese. Anyone who reads it is going to realize how for real it is, it most certainly can add to the gdp. I think you need to see things like that in order to sustain the advance. I am worried about the jp morgan effect jp morgan reports the best of all bank and what has the stock done since nothing. Thats what i am worried about in terms of people saying i am going to get in know i think you can get into a lot of opportunities lower later what really matters is that the numbers longer term are going to be august menned by the china deal i think those who belittle the deal or call it a nothing burger i know they didnt read it. If they read it it is reading war and peace in 23 hours. To your comment about jp morgan then i will let you go. Yoerpt to go anywhere. Good. We dont want to let you go. What the heck why am i going you have got jepy herring ton and liz young. What, like steve weiss just wants to ask whether it is for real come on judge. You said yourself the other day relating specifically to the bank this is maybe the jp morgan thing you are talking about that the setups were so bad because of the runs that they have had. Is that an issue now for many of these stocks now as we get deeper into earnings season, the setups are just tough . Yeah. Loo you have got to deliver a Morgan Stanley type number not only is trading great, Investment Banking great, but we have a consistent revenue stream of asset gathering and making money off of that. I that you would goldmans number was great bank of america had a great number what is that stock doing this is what i am most concerned about. Imi am calling it the on we of great. A lot of investors, the big institutions are waiting to ring the register they are not that positive on this market. A lot of them hate the president. Thats a common theme. I think thats wrong if you care about stock prices. Jim, we are excited about the interview you have tonight we will catch you later. Satya nadella, i know you worked hard to get that we cant wait to see it. Now to kate rogers with a flash on dupont. Moving higher by just under 1. 5 on a bloomberg headline that the company is to explore divesting of its Electronics Unit adding it is working with companies to explore strategic options. Once again this bloomberg headline on dupont, the stock is higher for 1. 5 we will bring you more we have reach out to them for comment. Comingp, u bullish moves in a Home Improvement stock in two minutes where others see chaos, we see patterns. Connections. Relationships. When you use location technology, you can see where things happen, before they happen. With esri location technology, you can see what others cant. Looking to get your business off to a fast start in the new year . Its go time switch to comcast business and get fast internet on the nations largest gigspeed network. Plus, complete reliability with 4g lte backup. And, cloudbased security to help protect the devices on your network. Greenlight your business in 2020 with fast internet and voice for 64. 90 per month. Switch now and get a 100 prepaid card when you add comcast business securityedge. Call today. Comcast business. Beyond fast. Sni options bulls are noticing unusual activity thats what jon fortt is about to get us. Stockset getting a nice lift today. Tell us about it. Indeed. This is one of them top of the show where you said are the traders adding, i didnt want to say this one, i added to home depot. We had it a month ago for unusual activity it made a nice move since that basically selloff with the last earnings report. Now they are betting on more upside february 7th expiration, the 23750 calls. Bought them, first it was 7,000. Then it was 13,000 i think we are closing in on 16,000 of niece calls right now, scott. I bought these, and i will probably hold on to these as well as what i already had for about the next week and a half, two weeks. Second trade, mosaic coit be tied into that trade deal that we talked about . Sure it could because this is fertilizer and obviously growing crops you need a lot of this mosaic, it is up 42 cents, almost 2 , today i bought this one. They were february 23 calls. They bought about 8,000 of those very quickly i joined them. I will be in this probably most of a monday. Update on save, which is Spirit Airlines we talked about this i think december 19th, scott it was about a 39 stock then. As you see, stock is making a nice move today, nearly 3 or 7 and through 42. 50. The calls we talked about december 19th, bang, moving up just giving you an update as we took some profits. We appreciate it. Next up it is ask halftime. We will answer your questions on uber, visa, we have dividend ideas and more the Halftime Report is coming back after this quick break. Imagine traveling hasslefree with your golf clubs. Now you can, with shipsticks. Com no more lugging your clubs through the airport or risk having your clubs lost or damaged by the airlines. Sending your own clubs ahead with shipsticks. Com makes it fast easy to get to your golf destination. With just a few clicks or a phone call, well pick up and deliver your clubs ontime, guaranteed, for as low as 39. 99. Shipsticks. Com saves you time and money. Make it simple. Make it ship sticks. Shipsticks. Com saves you its almost like a challenge everyday mywws been an amazing journey. To see how well i can eat and still enjoy myself all day long. I wake up every morning to see how much weight ive lost and how much better i look. Myww join for free and get two months free lets answer some of your questions. Liz young, you are up first, from mark in austin, texas, what are your number one etf funds for long term investors. Long term investors want to be in an index fund that gives them beta exposure to the market a russel 1,000 etf, and spoke off of it and then dividend payers or some of those more idiosyncratic stuff. Looking for dividend stocks to buy in 2020 what should i look at . Im going to play this one safe these are safe stocks in my portfolio right now and theyre all cheap. Most expensive of this is at 13 times. N advancement ient, 4. 7 yield, dow at 5. 3 yield. And at t you can collect that dividend without worrying. Buy, hold or sell v, letterw. You say this multiple is kind of crazy but its my consumer play, my retail play i think it keeps going you know, its part of the market same chart, same action. Dock, for you in denver, colorado, how do you think uber is going to do this year i think it will do much better i dont know if it will have one of those strats feerk jumps, scott, but they were buying calls. About a week ago i talked about it for unusual activity. June calls, ill be adding to it as soon as the show ends. An good stuff. Thk you. Well do final trades on the other side our Retirement Plan with voya gives us confidence. So we can spend a bit today, knowing were prepared for tomorrow. Wow, do you think you overdid it maybe . Overdid what . Well planned, well invested, well protected. Voya. Be confident to and through retirement. 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. I can. The two words whispered at the start of every race. Every new job. And attempt to parallel park. electrical current buzzing each new draft of every novel. typing clicks the finishing touch on every masterpiece. newborn cries it is humanitys official twoword war cry. Words that move us all forward. The same two words that Capital Group believes have the power to improve lives. And that, for over 85 years, have inspired us to help people achieve their financial goals. Talk to your advisor or consultant for investment risks and information. Talk to your advisor or consultant a former army medic, made of the we maflexibility to handle members like kate. Whatever monday has in store and tackle four things at once. So when her car got hit, she didnt worry. She simply filed a claim on her usaa app and said. I got this. Usaa insurance is made the way kate needs it easy. She can even pick her payment plan so its easy on her budget and her life. Usaa. What youre made of, were made for. Usaa everything your trip needs for everyone you love. Expedia. All right. Welcome back lets get to some other stocks jenny, you make some moves you see United Rentals and caterpillar. Right. Tell me. Why. Theyre trading at value multiples. One is a mat we think it will drive semicap spending its trading only 16 times so its at a discount to the market theres also cat which, as emerging markets cut rates, we think that will drive dploebl grow global growth. A lot of Earnings Growth as well as a nice discounted multiple. And finally United Rentals, a beneficiary from Construction Spending that is really strong in 2020 and 2021 here is the best part. This one is only 7 1 2 times earnings theres a lot to do out there, even with the market multiple as high as it is. United rentals i used to own it before. Remind us when you sold our uri. Last week. I thought you said you sold it to me. Look, it was a great run. Let me hit other stocks jp morgan. Great analyst. Note out to today still underweight to stock quote, the price is wrong. What do we think ge had a heck of a move as well that stock is up 34 , well call it, in the last three months how does anybody feel about this in steve i trust. He is an incredibly thoughtful, detailed analyst the aviation unit, hes going through defense, the impact of the 737 max. At the end of the day, the stock is not responding to that. Hes getting the fundamentals right but ignoring the Share Price Movement you have to respect what theyre saying here, which is ge is going to continue to come out of this. This is some kind of market this goes to what we were talking about with, i think, usb. U. S. Corp got a downgrade to sell that stock was up. Tusa, bestknown analyst on ge, comes back and says the price is wrong, that stock is up. Throw up walmart for me as well. Morgan stanley is taking a look at fallout from holiday sales and what the impact on walmart is whats walmart up to, thats the kind of market we are living in. Liz young, final trade your first. I like value growth i like growth broadly and across market caps, especially with phase one done. Jenny schlumberger. It could be a good quarter. Farmer jim . Its clearly breaking out, earnings in two weeks, multiple could get two more turns and up 10 . Dr. John jay nagarian evrg, unusual activity. Massive liquidity into the system in china. Trade deal. S p over 3300 does it for us the exchange begins right now. Yes, it does, scott and thanks welcome to the exchange, everybody. Im Brian Sullivan big show heres whats ahead. Wall street may have liked the trade deal but many Small Businesses across america arent sold why . Because the tariffs are still here well look at the other side of the trade deal plus, another day, another alltime high. Are investors treating companies on fundamentals or could this just be a fedfueled rally well discuss and debate and a luxury overload, and are we in for a remodeling