Transcripts For CNBC Squawk Alley 20240712

Is live. Pump up the jam good friday morning welcome to squawk alley. Markets still in the green pinning hopes to stimulus talks. Were watching headlines best week so far this morning, jon, in two months for the dow yeah. And in tech this morning, carl, hey, weve called it out here on squawk alley before. Today amd eyeing xilynks amd is a 100 million market cap down 3 on a 30 billion deal. Investors are giving this blessing a few different trends here. A hot of Tech Companies have richly valued stock to play with there is pressure to answer and three u. S. Restrictions are hurt something chip makers like xilinks and theres no end to that in site good morning, guys pat, are you surprised not a the hoff overlap here. So in that sense, maybe this deal isnt at risk but, hey, not a lot of overlap here. So maybe this is risky the. Yeah. The so as you said before, amd needs to grow. When i look at valuation, im sure stacy will will weigh in on this, it had to do something organic growth isnt enough to match the value of the company there isnt any overlap but there is in some of the markets that i can see them getting in i see it broaden being in carrier play, with 5g edge and also nch automotive. I think that the key part here is, sure, its really big in High Performance at pgas they also have advanced soc designs that have a different kind of processors on them requiring a hot of Different Software to go into it xasy, these deals are exciting and get the juices flowing. The more you have to reach for the deals and sigh i can see how they might k. They execute thats a goint. This broke at 9 00 last night. I think we were all getting ready to relax if i give the list of deals that i might have expected to break at 9 00 p. M. On a thursday this would not have been on there now that being said, i dont think its as pat is talking about, i dont think its that hard to construct a reasonable strategic thesis here. It does push them, you know, much broader into the data center three of the most important architectures and expands their opportunity and Data Center Acceleration extends the efforts into the embedded markets like industrial and mobile gets them into infrastructure as pat eluded to. Amd is not historically focused but started to speak about focusing there ill be honest, i want to be a bit of a defensive activity here as well. You know, is it a foil against that if he can get that done and start to really even more broadly own compute in the da thea center, does amd need a broader thing against them that may be possible as well i dont think its that hard youre in that on the service, its not as craze qui crazy as it may look we heard rumors that xilinx was going to buy amd when it was a lot smaller. It is interesting how those things reverse now yes yes. We all remember that the notion that amz existd existedat the pe of intel we talk about engineering prowess and Portfolio Management prowess. How do we think about amd on the ladder front these day amd is very focused its no the too hard to look back when they had six months worth of cash. The so then focusing was key amd doesnt have a lot of experience at acquisitions like this the last major one which was ati a deck a ago wasnt exactly t smoothest transition its a different Management Team there are a lot more solid ground than they were before this is a new muscle for amd and i do see that nobodys talking about yet is i do see the ability to leverage a xilinx in the semicustom business that was a trick pony for game consoles i can see leveraging that day one to make that happen. I do know they would know how to do that from day one Portfolio Management is new. Right . You have cbus and gbus thats what we have today at amd. Stacy, how much is china a factor here . And by that, i mean youve got pressure on xilinx because huawei is at risk because of u. S. Restrictions on that company. And, you know, xilinx is trading in a range for the past 12 months where a lot of other companies that arent under that same kind of pressure are not. How much is china a factor here . What does this mean for other names like micron in a similar situation . Yeah, you bet china is an issue for xilinx and huawei is a customer of many xilinx was a Bigger Customer and thats why theyve done relatively in recent quarters. Some of thats already come out. I think at this point huawei, you know, you said tens of millions, its probably mid single digits. Its not trivial but not critical at this point. Obviously, there are worries about the broader escalation that is not necessarily xilinx i like a matter of getting this closed though, china is going to be the wild card theyre going to presumably need china principle of law there is not a lot of fundamental antitrust here if i didnt worry about china, i think this gets done but that will be an issue. This deal is easier than nvidia. Maybe when we were at least investors worried about qualcomm that hit some highs this week. But now the worries shifted to some other stocks. Give me your take on what is happening in tech overall. All of this potential m a. You know, in software, youve got oracle eyeing tiktok and you have other things going on microsoft making buys in gaming. Now youve got this happening in semis as well. Is this just a time when Interest Rates are low stocks valuations are rich and everybody is gobble, gobble goshlgs . Gobble . Yes, part of this competitive like you brought up. Were seeing video plays intel made the massive compute plays. And keeps making that. So you have to respond with something. But the other thing is what customers are looking for. End customers arent looking for Point Solutions necessarily with one type of compute unit or one tup of offeri type of offering companies that can offer multiple types of compute units that are strung together with a very aligned Software Platform just makes it easier for customers. And the other part is just the booming opportunity in the cloud. And the friction that we have with china which we saw with tiktok and oracle. So once you start to get the ball rolling, i dont see this ending for for quite some time apples rolling more of the own chips now amd is looking at xilinx, intel is talking foundry. Nvidia wants to buy how come nobody with stay in their lane and what does this mean for the investor trying to figure out where the value is Going Forward . Yeah. So look, m a is a theme and semiconductors is not new. We have a massive cycle of deals in 2015 and 2016 and the industry, im looking at my own coverage. Ive been doing this for a dozen years. Ive been dropping coverage of companies all the time i think this is probably the 25 major deals ive dealt with over that 12 year horizon i mean its no the new from that standpoint you know, from an investor stand pount in terms of what youre looking for, youre always looking for, you know, the opportunities from the deals and the strategic fits and i good he is its more and more of them are consolidating its becoming more and more critical semiconductors in general do tent to be a winner take all kind of dynamic. And if the big are getting bigger, you have to get big yourself or, you know, you have to get eaten i think weve been seeing that trend all along. Certainly the current environment is probably helping fuel that right now. Yeah. But execution is hard in this space. We no he that. It always is. Stacy and patrick, thank you. Yeah well have to pick it up again next week when im sure somebodys going to try to buy somebody carl okay, jon thanks well take a break here. Nasdaq 100 close to session highs. Up 1 . When we come back, we have a list of stocks that will take over the world within the next decade what are they and why are they l lkbo tt ain minute taxsmart investing, whats new . Audreys expecting. Twins wed be closer to the twins. Change in plans. At fidelity, a change in plans is always part of the plan. Salesforce, apple, microsoft, they led the dow high they are year. Could it be time to trade out some of the big tech names for lesser known gems . Angel investor inside. Com founder joins us this morning to talk about talking about building a new faang good to see you. Good to see you as well hope everybody is safe so talk about what is your switching out and what youre switching in yeah. I think looking at the public markets, one thing that is clear is with 15 million robin hood traders out there and full disclosure, we were an Angel Investor in that company as well thats a yum huyum one for us. Every rock is being turned over. People are enthusiastic about public equities and this whole now cohort of people buying stocks so its very hard to look for value, i think, in the market. And especially with this unknown of what this recovery will be like, unemployment, and what earnings will look like. Peloton and zoom are companies and products that are just transcendent i dont see a world where those companies you know, uber and tesla which are also very hig y valued, i think, i wish there is more upside in all of the companies. But they say this is fully valued stocks. I dont see a world in which tesla, uber, peloton and zoom are not bigger companies, more Important Companies a decade or two from if now. There is a lot of people that like to ib vest in app and trade. I do think that those are particularly Impressive Companies to me. So wire seeiere seeing example companies that are competing really well. And still under scrutiny. I wonder how youre stripping out or trying to minimizeliability that is some of the Companies May have if if we get really reliable therapeutics and a vaccine in the medium term. Im an optimist its great to see the president solved the coronavirus last week but i do think we have a long way to go. It is for everybody else tracing is a game changer. And we just have had a failure of leadership and politics on the side theres been a complete fallure of leadership of getting those two things up and running in this country serve a failure at testing and tracing. If you take out your iphone right now and search the settings for covid19, youll see we have tracing on the phone. We dont have any apps we have to connect it to an app. The fact we dont have a federal app where everybody can check in if they opt into it and do this tracing is just criminal in my mind we may be able to get testing after a major way and then solve this problem, i agree. Back to the markets back to stocks what undervalued do you think . Xilinx yesterday but to day if youre looking at the twilios and service net, is there an area or industry, enterprise, chips, anything you think everything is overvalued i think everything is overvalued that is obvious to everyone hoo beinging at price earnings i loved my peloton ive been talking about that company for a couple years its transcendent product. 30 per active sub, you have to look at the reality and say there is no rush to get into that stock is there some do you need to be in peloton today . I dont know and i do love the company. I love the stock it is super fully valued i can tell what you is happening in my world, im getting bombarded like ive never seen in my entire career theyre going out with the stack which were seeing investors in. The spac thing is going to take pressure off this i would be remiss if i didnt warn the day traders and folks who are new to the market, please be careful when youre evaluating the products. I know that youre yeah. Youre an Angel Investor you focus in those areas surely there has to be something that is like what walmart was two years ago. I mean, looking at disney compared to what is happening some other stocks and the fact that theyve been flat, i do think there might be an opportunity there. As we talked about, i think theyre going to blow past net nix. What a spectacular foremananper so far as a tech guy, i love disney i do think people are not all bought in on that. And slack, i think, is a very peculiar juan to peculiar one to me they have not had a runup. If you look at just how Mission Critical that app has been and how many people tried to kill it facebook tried to kill it. They wound up selling that microsoft is on a complete absolute obsession to kill slack. They cant kill it and then you watch two things, you know, this is anecdotal but important, when stock goes down, it is the world goes bofrpgers people are like i cant work work from home is the trend or future and that is not going away it is so critical that it is disrupting work now. I dont know if youve been talking about this on the show, but coin base said no more politics at work yeah. We talked about that yesterday when i came into the workforce, that was the default we live in different time. About you what the is very interesting about slack is the issues that coin base are not that people are talking about politics at lunch or during coffee or in p all meetings, its that theyre talking about it on slack. They post about trump or they post about the pandemic and the response to wearing masks. You have 1,000 nem a thread. That means slack is super integrated if they can disrupt companies at the level theyre doing when thing goes off the rails, that means the converse is also happening. People are getting a lot of blank done things are gsd, getting stuff done i think that is a sleeper for me theyre going to take the pressure off i think some of the other stocks that are you know, getting run up youll have new product for people if youre investing in companies before they have a product in market, you need to put extra scrutiny on them maybe you dont want to put 50 on nikola, thats insane thats like jumping in front of a bullet train do not do stuff like that, right . You have to have a Little Common sense here be careful, people we always prod exists viewers love knowing what youre thinking. Pt good to see you thanks stay safe, everybody. Vote, meez as we head to break, draftkings and Pen National Gaming both near the lows of the session. Following news that the jets were sent home after a presumptive positive covid19 test on the team dont know if thats going to effect how they would perform. Draftkings down 3 today on pace for the worst week since march. Squawk alley will be back in ay t mut st with us when i was in high school, this was the theater i came to quite often. The support weve had over the last few months has been amazing. Its not just a work environment. Everyone here is family. If you are ready to open your heart and your home, check us out. We thought for sure that we were done. And this town said not today. But she wanted someone who loves andwith the cats. Ng. Not today. So, we got griswalda. Dinners almost ready. But one thing we could both agree on was getting geico to help with our renters insurance. Yeah, switching and saving was really easy drink it all up. Good could have used a little salt. Visit geico. Com and see how easy saving on renters insurance can be. Will apples iphone be a Tipping Point . Julia boorstin looks at that the phones could spark an upgrade cycle to new phones which could drive people to switch carriers to stream video and use more connected devices that could impage p pact tct th. Now heres how they stack up according to news street and open signal research they say that verizon has the fastest speeds but thats only available in 36 cities a tiny percent of the company, with 50 and 60 available everywhere else. Tmobile benefitting from the merge we are sprint is next fastest with about 300 mega bits per secretary speed. And a third of you cant trithis year with that same 50 to 60 mbps elsewhere at t doesnt have the typhyper t speeds researchers tell us it will take years for at t and verizon to close the Network Performance gap with tmobile at least two years and maybe four that is a long time in wireless land now tmobile shares are up 48 year to date while verizon shares are down 4 and at t has been way down by the warner media business, its down some 27 year to date it is worth pointing out there is Tech Companies that benefited from the investment in 5g as well as Infrastructure Company American Tower carl all right julia, thank you very much watching the tape. Speaker pelosi saying she hopes to get a deal on covid19. We no he that the majority leader mcconnell earlier this morning said he doesnt see that happening necessarily in the next three weeks chips remain the big story take a look at shares of nxpi. Raising outlook for the quarter. One of several positive preannouncements weve seen in recent weeks well talk more about that the stay with us this is decision tech. Find a stock based on your interests or whats trending. Get realtime insights in your customized view of the market. Its smarter Trading Technology for smarter trading decisions. Fidelity. Heres your cnbc news update at this hour galveston, texas, is seeing storm surge from hurricane delta. Maximum sustained winds eased slightly to 115 Miles Per Hour delta remains on track to come ashore in the Late Afternoon or evening. Multiple reports the entire Jets Football Team has been sent home after a single covid19 test that is likely positive. Agent drew rosenhouse saying there is still hope they can play sundays game against the chargers and in if florida, a federal judge has denied a motion to extend Voter Registration after a computer meltdown on the last day of the Registration Period 20,000 more people could have signed up to vote if the Registration System stayed online and in california, secure ballot drop boxes like this one are giving people trouble. Early voting begins. Officials say theyre designed this way to prevent vote tampering. You know, jon, i actually had trouble with the mail box on my corner when they changed it out because it doesnt have a door anymore. I kept trying to figure out where to put the mail in so that can be a little tricky as long as can you get them in and you cant get them out, i guess thats the idea. Eventually thank you, bertha. Lets turn back to amds potential 30 billion acquisition of xilinx. Our next guest is a semiconductor expert for both companies. Joins us now on what a deal could mean for each, phil freidin is on the phone with us. Phil, happy friday you think this deal makes sense . To be honest, i dont know if it makes it a good sense. I dont know how amd will handle the xilinx product line. The product lines are different. They differ, you know, differ market segments. So that will be interesting to see, you know, how they plan to do the merger. Phil, there are a couple or at least a few different kinds of m a and scale its one thing when a Bigger Company swallows a Smaller Company that is very much in its space. But right now, were seeing some really big potential m a im thinking nvidia, arm, as well as this thats very ambitious. Do those tend to work out . It really depends on the company doing the acquiring. And often its a function of how well they let the acquired company continue to operate successful way they would as a merger we were making that point earlier. You can be great engineers and not necessarily get great advice from the investment bankers. There was a school of thought, philip, that nvidia is the one that should have made a run for xilinx if youre matching cards here, what do you think is the most efficient pairing, just theoretically, lets say, from an engineering standpoint . In terms of i guess the Companies Looking forward both nvidia and xili in x really focusing on compute acceleration nvidia doing it with the gpu chips and xilinx doing it. Amds process align is a more traditional compute. Just keep throwing more computers to the problem it can be more than ten times the performance of what traditional computers can achieve. And thats why both nvidia and xilinx are as successful as they are. Something that caught my eye is xilinx is a big customer, partner of arm which nvidia is looking to buy amd, you know, in the world of championships is one of the bigger competitors to nvidia as it is. This intensifies the stake in the potential outcome of nvidia arm. And perhaps increase its say in what kinds of conditions it would like attached to that. Do you think thats the case no, i dont they make the designs and then they have companies they license that to of which amd, xilinx and companies that licensed the designs that arm does so while all these Companies Make use of the arm technology, its actually pretty much a level playing field. They need it to stay that way. With nvidia being a competitor to amd in graphics and a few other areas, i think they would be concerned, perhaps, about how nvidia would handle that arm acquisition. I doubt the acquisition would change the terms of contracts that are already negotiated. It might affect, you know, at built youre doing new deals i dont think it affects any use of arm technology, those are licenses that are already signed so it dont think that acquisition by nvidia could change those all right we cherish your insight on this chip business, phil thank you. Okay. Thank you. Later on this morning, jack dorsey and square, as you know, betting big on bitcoin the question is should you well tell what you is behind ngon nvtmt. Ioiesen dot anywhere. I have an idea for a trade. Oh yeah, you going to place it . Not until im sure. Why dont you call Td Ameritrade for a strategy gut check . Whats that . You run it by an expert, you talk about the risk and potential profit and loss. Couldve used that before i hired my interior decorator. Voila maybe a couple throw pillows would help. Get a strategy gut check from our trade desk. Jack dorseys Company Square buying 50 billion worth of bitcoin, the question is why kate rooney has more we dont see this from companies every day. Squares 50 Million Investment in bitcoin represents roughly 1 of the total assets in the Second Quarter a few reasons though square is doing this first, too diversify similar to why any investor might buy buitcoin given the evolution of crypto, if you get the right time to expand squares u. S. Dollar dominated balance sheet. And to make a meaningful investment in bitcoin. They see it as a tool for Economic Empowerment it gives people around the world that live in countries with less stable currencies, a shot in participating in the Monetary System this is a step in furthering the companys mission as well. All this is really driven by squares Ceo Jack Dorsey who, of course, also runs twitter and is it one of the most well known bitcoin advocates. Dorseys predicted it will become the worlds single currency and the currency of the unt net. Dorsey pushed square into launching bu launching Bitcoin Trading ahead of 2018. Square also dedicated a team for crypto innovation. Theyve had a great year p since the march low, it more than doubled they hit a high the highest level since september 19th today. Its on track for its best week since july anl us analysts tell me its thanks to them hedging from money printing from Central Banks and a hedge heading into an uncertain election season. Back to you guys all right thank you, kate. Take a look at shares of zoom much continuing their trend higher today after they initiated the stock with a buy ra rating saying the company can tun to deliver outsized Revenue Growth it is the biggest gainer on nasdaq 100 year to date beating out tesla for the spot you can see ut there up nearly 3. 5 when i was in high school, this was the theater i came to quite often. The support weve had over the last few months has been amazing. I have a soft spot for local places. Its not just a work environment. Everyone here is family. Gonna go ahead and support him, get my hair cut, leave a big tip. If we focus on our local communities, we can find a way to get through this together. Thank you. If you are ready to open your heart and your home, check us out. Get out and about and support our local community. We thought for sure that we were done. And this town said not today. Full time tech remote work is not permanent managers there will have to approve permanent full time remote work. Otherwise, workers can expect to be at home less than 50 of the working week, microsoft says that sounds to me like one or two days out of five for many people i think companies can be more productive and move more quickly. At the same time, i think were also seeing disadvantages. I think people want to seat colleagues in person i think its not really work from home as much as it is work from it home in a pandemic i would say working from if home in a pandemic is definitely overrated. I think the poebl from regular wo potential from regular work from home is underrated a majority of companies are not having workers work from home for more than a couple days out of the week. Microsoft right in the line there. It seems to me to be a bit of a pullback from the initial days where we had a few ceos saying this is great. The were going to do this all the time yeah. Although, i notice we have a story about how netflix is tripling or looking to triple the real estate in london. Reid hastings has the opposite view about work from home. Interesting to watch by the way, jon, kudlow is on the tape saying the president approved a revised stimulus package. And that pelosi will will talk to mnuchin this afternoon. Well see if that means anything by the way, look at the apple suppliers this week ahead of that expected apple event. Possibly a new iphone. Well talk about that when we come back in a moment. Squawk alley is back after a break. Hi, my name is sam davis and im going to tell you about exciting plans available to anyone with medicare. Many plans provide broad coverage and still may save you money on monthly premiums and Prescription Drugs. With original medicare youre covered for hospital stays and Doctor Office visits, but you have to meet a deductible for each and then, youre still responsible for 20 percent of the cost. Next, lets look at a Medicare Supplement plan. As you can see they cover the same things as original medicare, and they also cover your medicare deductibles and coinsurance, but they often have higher monthly premiums and no Prescription Drug coverage. Now, lets take a look a humanas Medicare Advantage plans. 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There is no obligation, so call the number on your screen right now to see if your doctor is in our network, to find out if you can save on your prescriptions, and to get our free decision guide. Humana a more human way to healthcare. Well, we got fewer than 30 days until election day. Democrats and republicans alike have been flooding facebook with ad dollars to reach voters uncreasi increasing spending despite limited abuse and halt political ads after the polls close for an inde indefinite period. Chris kelly joins us now chris, you know, we had facebook say theyre not going to take new ads a week before election day. Now theyre going to halt the adds after election day but i wonder how much of an impact all of that is going to have on how facebook is perceived. There is always a butt it of fight about this information we saw whut we started taking political ads back in 2006 there were policies in place then to begin the deal with them but obviously, the Huge Investment that the company made in being ready for this information that would come from any side or from foreign nations has is paying dividends right now. So i think that you have seen policies evolve with the communications that are am coming from the campaigns and the discovery of activities by foreign governments and other actors designed to make sure that this vote has a high level of integrity to it given that its hard to meet in person a host oth a lot of other venues are shut down is new policy going to arise i think there is always learning from, you know, attempt attempted manipulation over time just as you saw from the situation in 2016, the Company Invested very, very heavily in making sure that its out in front of a lot of issues that could come up. And watching very carefully the expression coming from the campaigns and from all actors. Obviously, the worry about dangerous organizations, you know, trying to set up for potential violence is something that is become even more and more aggressively addressed in the last few weeks and i think that youll see that continue through the election. The particular policy changes around ads right after the election around claiming victory, et cetera, are a response to some statements from the campaigns about what might go on. And so intelligence that happened over time that indicates that there may be plans to do that i think its an important for all folks who are conduits for information to call that out chris, speaking of all of that, i wonder, i mean, its been remarkable to watch the evolution in the companies thinking from what we can see externally that, is the move on political ads post election, are you impressed or surprised at, i mean, if were going to call it a uturn, how fast this uturn has come i dont think its a uturn at all i think the poll advise been in place and there may be failings in implementation. But i think as the threats evolve, there has to be an intelligent addressing of that and the company has been very aggressive in stepping out to get in front of that and to make sure that, you know, that people can vote and also the pro active measures that have been taking, recruiting poll workers, and assuring that this people can have the, you know, the ability to express their will at the ballot box you know, ive also been privileged to participate in that through a lot of the nba work that weve done with the players association, with the owners stepping forward to create arenas. You know, to open up arenas as Voting Centers thats right. Its been reported. You look in harris county, it texas, or a number of others but by and large, weve had a very successful effort to use arenas as Voting Centers do you think at this point either advertisers that stopped advertising on instagram or celebrities who took 24 hours off from the platform moved the needle in any way . I you this that there is a deep worry about the state of our democracy and the way we express ourselves online and there are some critiques levied at facebook that i think the company is very working very hard to address while still maintaining a principals stake on free speech and allowing people to express themselves within certain limits that rule has been abused by a number of different players. And that there have been false statements made about electoral, you know, shenanigans that theyre really shenanigans themselves i think the policies put in place are designed to address that and narrow way and assure that we have a fully, you know, u integrated and deeply, you know, respectful that we can get to a good conclusion in this election where we can be confident that people can vote. With states taking actions to block that, you have to adapt the information environment. I you this youll see im not, you know, from were not sure no ones ever sure exactly what is going to come up. Right but the dedication on the part of the company and on part of the nba is to make sure that there is a, you know, easy way that everyone can get access to express their votes at the ballot box. Ive been looking at this plot to kidnap the michigan governor the Washington Post says in this instance there is a lengthy record of post in facebook groups, youtube videos and tweets and a tiktok that for shadowed the plot. One way of looking at that is, boy, you know, social media sure is formenting a lot of this stuff. Another one of the ways of looking at this is boy, evidence thats convenient. If people are going to do something that crazy, i dont know how else you compile the amount of evidence that the authorities got in that amount of tomb witho of time without social media i think youll see a lot of reporting about how they participated in this in making this case you know, i think the tone on facebook for the last six months from a lot of players has been its formenting all the hatred and awfulness when in reality its reflecting a lot of hatred and awfulness thats out there you need to pay close attention to all sorts of systems how this he fle reflect and build the community and they very much want to be say looking closely at that and how platforms affect that. But overall, you know, its a platform for expression just like the phones that these people use to organize are and it does provide evidence over tomb to ultimately in this case get criminal convections for this plot to kidnap the mush mis michigan governor. That is one of the most outrageous things can you ever imagine in america you hope all of these get uncovered before they become a real thing chris, thank you exactly thanks so much, jon. Mean tomb, guys, what a week its been in the world of gaming today its ea and fifa 21. Josh lipton has more on that hey, josh. The. So, carl, its a big day for fans of fifa ea officially launching a fifa 21 today on playstation 4, xbox 1 and pc so why do investors care because this is eas crown jewel. The biggest and most important game by usage and engagement one of the largest gaming communities out there. Launch does come as ea nab a recent slump higher today but down more than 10 from the all time high reaching august. Two straight months of declines and down again so far in october. Now analysts say at least some of that pressure is up to profit taking given the strong run in the stock. Even now its still up about 50 from the march low sebastian tells me he is still an ea believer he thinks next generation con soles could provide a lift for sales. He makes a broader bet, too, that something structural has changed here the surging popularity of video games were seeing right now wont end when the pandemic does there are a lot of new gamers now, collin says, and existing fa fans are spending more time in gaming thats good stuff, josh. The markets are getting a boost from kudlows comments got to Pay Attention to what mcconnell has already said today. Lets get to the judge carl, thank you welcome to the Halftime Report front and sent they are hour, the broadening rally of the s p 500 having the best week in more than a month now. The ceo and Portfolio Manager join me at gillman Hill Asset Management michael farr is with us as well. Lets check the markets. Stocks pacing the best week since july take a look there. Dow is now up 230. S p 500 is good for 32 as carl