town, teenage boys and the curly hair. actor timothee chalamet is getting a lot of credit/blame for this trend while a lot of parents are hoping this will be temporary. >> thanks for watching power lunch. >> closing bell starts right now. welcome to closing bell, everybody. i am brian sullivan. we had a great christmas. this make or break our begins. santa claus rally, wall street coming into the final holiday shortened week with stockings full of momentum and investors hoping for a nine week win streak. we have a pretty good start that is green across the board. intel surging on the heels of a multibillion-dollar investment

from israel's government. more on that later on in the hour. s&p 500 within striking distance of record levels in the russell 2000 adding two recent hefty games. -- gains. small caps are on pace for the best month of the year. all of this brings us to our talk of the tape and questions heading into 2024 because while things are pretty good, there are, as always, some challenges on the horizon. let's welcome in adam parker. i'm told that you are here to answer all of our questions, like what is the meaning of life and others, but i guess we have to keep it to the stock market, cnbc version. what is your expectation for how equities do in the new year? >> i will try to answer them all. merry christmas, happy new year, thanks for happy -- having me. i think in 2024, it looks like you have a combination from the u.s. central bank, european

central bank, maybe others. synchronized combinations are usually good for equities and i think it's the median company in the market can have stable or higher gross margins, i think the risk award skus to the positive in terms of outcomes and i have seen all the outlook snow for most of the institutional investors and i think there is a range out there, but probably i'm a little bit more optimistic than average. >> the stock market has kind of gone a little -- i don't want to say crazy but it has certainly popped. you know the federal return may end up cutting rates may be in early 2024. our next guest may disagree on that but how much in the stock market this year and in talking about the s&p 500, will be reliant on what the fed does versus what it can do on its own? >> there are two elements to answer your question. what is the corporate earnings, profitability, margins and the

other is the price to earnings ratio that you pay and you know, the fed certainly -- the fed balance sheet has been correlated to the equity market. i personally don't think they will cut anywhere nearly as much is what is in the price but if they start to do it in the second half of the year, the market is participatory. there is a plausible case that the average company could have margins that expand some. the median stock margins have flattened her the last two or three months after going down a lot over the previous 18 months, so i think there is a chance some companies could see some margin expansion. that would be the cocktail for a bowl market, eventual combination plus rising markers. >> what parts of the market look better than others? >> most institutional investors i talked to think there's going to be a pretty good jump in

january. businesses that are pretty attractive, if we don't have a recession, things like payments, healthcare services, maybe even some of the more macro sensitive sectors like energy and metals could benefit from a rotation maybe out of some of the high flight tech or some of the retailers which are up a lot and probably don't have great long-term prospects. >> when you talk about rotation are you talking about out as big tech of the mag seven? >> maybe a little bit less of those guys. my view has been and remains anyone trying to beat the s&p 500 should be close to market with the aggregate magnificent seven. one, they are pretty macro stocks. there is very little idiosyncratic risk. two, it's really hard to know something about them that other people don't.

there is what, 60 analyst to cover them in the ads that i know something about google that nobody else does is exactly 0. three, i can't exactly replicate them with another basket of security. i cannot find 30 stocks that trade just like apple so i don't need to on that. given that, people should make their bets elsewhere and most people, particularly institutional investors have rules that have prevented them from owning that kind of security so i think they're going to be fine and i would own at least a market weight chunk of those. maybe like a video maybe then you like apple, a couple percent here or there but i would own a chunk of those and make my bets elsewhere. >> i think everyone is like betting against the pistons right now. it's been a lock. the last 26 in a row in the nba and is going to work until it doesn't. >> i think. they are still growing faster than the market. they still have a lot of technology moats and prospects and again, i think there is such a big part of the market.

a lot of mutual funds or buy side firms have rules that the biggest by side stocks can be more than 5% account onmore than x percent of an individual security supposed of the both -- most of the institutional managers, if they sell some of the winners will never be able to catch back up to where they are so i see those things holding in pretty well and the rally would have to be in other parts of the market where the average company can have market expansion. when cpi was up a lot, these companies were primal to that. had good pricing power you had a lot of ability on the cost side to cut costs. you saw that with mehta and others so the average company was more vulnerable, so to the extent that inflation is under control, there is some chance that the more average company, not the mag seven, could see some expansion. >> all right, adam. sittight.

were going to bring in another voice to the conversation welcome in our friend, victoria fernandez of crossmark global investments. victoria, merry christmas, happy new year. thanks for coming on. you listen very patiently to what adam had to say. adam is not super bullish, by the way, on the federal reserve but you think there's a chance they may not cut at all next year? >> i think they will probably end up cutting next year but i think it's definitely going to be in the second half of next year. the market has priced in almost 100% chance of a march cut and i think that is just a little too optimistic. it is probably one of the main reasons, along with some other risks we see, but one of the main reasons we think there probably will be a pullback in the first quarter, at least one volatility is that extra kind of 50 basis points that the market is anticipating versus what we saw gets priced out of the market because the market is absolutely priced for perfection right now on a soft landing and we just don't think that is going to happen. the only reason we see the fed cutting in the early part of next year is because they are concerned about the economy,

and we are starting to go into a mild recession. >> mild recession if so, if you are right, what would that mean for equities generally then, victoria? >> i think we are going to see a pullback in equities. obviously for the near term, for the imminent future, the path of least resistance is higher. we have the small and the mid- caps actually outperforming large caps last week, so we had that broadening in the market. we have the seasonality. we have's consumer sentiment that is strong so we expect the market to continue to go up here in the near term but we think these things are going to start working the way through the economy in terms of the hikes that we've had. the leading economic indicators. i mean, it's in the name and we've had 20 months of leading economic indicators cutting down. we've had pmi's and manufacturing numbers that have not been good. look at the philly fed.

new orders plummeted and prices were higher, so there is different information out there in the market. i think a lot of people try to choose one camp or the other to make their case, but if you take everything in together, i think you have to be cautious and expect some volatility and a pullback as we go through the first half of next year. >> adam, listen. every recession call this year was wrong. i mean, i thought we might fall into one as well. i was wrong. it's hard to say. i was wrong, but pretty much everyone else was, too. do you see recession 2024 even a mild one? >> yeah. i focus on stocks and the s&p 500 in the big seven that you talked about, they are a superior set of assets so you can have a technical recession. economists will let us know six to nine months after it matters because the equity market will lead the economy every time, so i don't really focus so much on that, whether we have a

technical recession or not. i focus on whether the average company can gross earnings, whether margins can expand because those things are associated with going up. i don't think that victoria and i disagree on the fed. i think it's going to make it hard for them to start cutting six or seven times priced between now and the end of january 2025. i don't think they will cut that much. if they do, it's because conditions got much worse and i don't think you will have smooth sailing through that period so to me, the economy and data are going to get worse and that will affect s&p margins and earnings. if i am right, that's more of a things are not eroding. companies can improve then i think the equity market will end up higher and i'm not as good at those so thesort of

view is to see my way through it that the market will end up being higher in six to 12 months and that is sort of my base case. >> markets to go up what, 75, 70% of the time so people say fight you have such a bullish bias? well, because 100 years of history tell us that stocks tend to go up. maybe not to the level of fed cuts that people think. and you said you were a little worried about stocks. do you think the overall market, one year from today will be higher or lower than where we are right now? >> well, i'm going to punt that question a little bit, brian, because our year-end predictions come out at the end of this week, so that will all be in there. what i will tell you is that i am concerned about earnings and margins. adam was talking about that. the pricing power as inflation comes down, pricing power is coming down for corporations, but wages are still at a rate that is higher than that, so there margins are going to get compressed and this is typically the time and the right height cycle or company start really paying attention to that in cutting labor

forces. we've seen it with nike. we've seen it with spotify, hasbro. there is a whole bunch and i think we will see more of that coming, so i will say i think it's going to be a rocky road next year. >> a follow-up on that, you are right. fedex cut. footlocker cut. nike cut. all the ones you just talk about . the macro market did not seem to care. it's a little bit not odd, but i find it interesting. is it all momentum and fed interest rate optimism related? >> i think there is definitely this confirmation bias going on with the market right now. they expect six cuts from the fed but they expect earnings to go up 11, 12%. they expect revenues to go of 5%, so it seems to me you can't have your cake and eat it, too. there has to be something that gets a little bit and i think that is where some of the volatility comes in the marketplace. which part is that it's going to give? are earnings going to come down and will that start is going into a pullback?

is it going to be on the flipside of that and the fed is not going to do as much? that is the question to me and it means you have to be a little bit more cautious in your portfolio. look at those names that have taken such a big hit. but generally the market does a little bit better that it starts to pick up and i think that is where you want to be putting your funds to work right now. >> are you saying, are we going dumpster diving, victoria? >> i actually like some of the financials, visa and mastercard. i think you can look at insurance, as well. something like an aflac or metlife. these are areas we think will continue to do well next year. >> adam, any of those you agree or disagree with? >> i think generally, she's right. expectations are for 11% growth

next year. i think earnings will be mid- single digits but as long as people believe that earnings are growing, and they believe they can grow indefinitely, i think the market has a more positive bias meaning that somewhere in the middle of 24, if you think 25 earnings are up and 26 i mean, there is a reasonable case earnings can grow for the next several years so maybe the part she and i disagree on the most in the mix there is that companies can be productive, cut out cost, maybe less logistics, transportation, input costs, and yes, wages are inflating but they are inflating at a less rapid rate so i think the median average company can maybe have some margin expansion. if she is right that they don't, that is going to cause the market to maybe go lower but i think the base case is going to be higher and earnings will grow. >> you know last year, victoria,

energy was all the rage. oil and gas boomed. best-performing segment, houston. the city for the stock market. this year, a bit of a different story. oil, 45 bucks. you have a view on energy heading into the new year? >> you are right. i am a lifelong houstonian, so would like to support that energy sector and i do think you have some opportunities in energy. yes, prices are higher right now. i think with some of the concerns that are going on in regards to supply and demand, in regards to some of the geopolitical issues at least in the near term, i think you can see some of the stocks moving higher. as you know probably better than i do, u.s.. crude production has reached all-time highs so that brought the price down a little bit there. some concerns about demand out of china so i think you have to little -- be a little bit cautious but you have some energy in your portfolio. >> texas produces i think two

to three times more renewable electricity generation than california does. adam, you have a view on energy? >> i am bullish in the median to long-term. i don't see a way we are producing the hundred and 7 million barrels that will be demanded. there has been way less ev adoption and people thought. if you do the math, it looks like something like six, seven, eight years from now peak demand . there are more variables involved. in the three to six month view nobody knows but when you look at the longer-term you just don't have the cap ex to produce what's going to be required to meet that demand authority been in place so i like it a lot. the s&p is obviously only a few percent of the overall index so for me it can be a few percent overall weight and capitalize in the medium to long-term. if you think about estimate

achievability, like the energy equities. >> i know a show at 7:00 p.m. eastern time that likes to talk about cars and all that stuff. this is a very good example of why you come on cnbc during the holidays. you guys got like 62 minutes of interview. >> take care. have a good one. happy new year. >> thank you very much. victoria and adam, appreciate it. >> let's send it to christina for a look at some of the biggest names heading into the clothes -- close. >> there is a shopping spree going on. bristol meyer is buying tobacco cancer treatment. that stock is up 30%. that deal comes after bristol-myers just

last week announced a purchase of therapeutics for $14 million. and astrazeneca said it would buy china's gray so technologies -- gracell technologies. you can see shares for astrazeneca up 2/10 of a percent. >> progress for bristol-myers. we are just getting started here on closing bell. up next, rethinking retail with the all-important holiday shopping seal -- season now on the books. as always, live here at the new york stock exchange. you are watching closing bell on cnbc.

trading at schwab is now powered by ameritrade, giving traders even more ways to sharpen their skills with tailored education. get an expanding library filled with new online videos, webcasts, articles, courses, and more - all crafted just for traders. and with guided learning paths stacked with content curated to fit your unique goals, you can spend less time searching and more time learning.

trade brilliantly with schwab. all right. 60 seconds to draw the perfect gift. what's it gonna be? a bottle of don julio, 1942, delivered. delivered with drizly. gifting without the guessing. drizly.

you're probably not easily persuaded to switch delivered with drizly. gifting without the guessing. mobile providers for your business. but what if we told you it's possible that comcast business mobile can save you up to 75% a year on your wireless bill versus the big three carriers? did we peak your interest? you can get two unlimited lines for just $30 each a month. there are no term contracts or line activation fees. and you can bring your own device. oh, and all on the most reliable 5g mobile network nationwide. wireless that works for you. it's not just possible, it's happening.

welcome back. big news, apple appealing the decision to ban some imports of its watches after the biden administration a polling the big patent ruling. this apple watch patent fight is all about what? >> it all comes out. the biden administration did not get apple it was hoping for for christmas. the u.s. trade representative did not veto the international trade commission's decision to ban apple watches by the deadline yesterday. the ban in full effect starting right now, sims roy patent dispute of blood oxygen sensor brought against apple by the health tech company, massimo.

apple heart -- hopes to start selling the watches soon. they've appealed for a stay on the ban until customs and border control can determine if the patents are violated but in the meantime, they are banned from selling two of the latest models, the series 9 an altar to, in the united states only. that is the apple watch essie. it is the cheaper model without the blood oxygen centers are. you can still buy those in stores. revenue impact. morgan stanley analyst last week estimated less than 2% of apple revenue will be affected by this ban and apple was missing about $135 million in sales for each week the ban continues. that doesn't sound like a lot,

but every little bit counts as apple struggles to return to top wide sales growth again after four straight quarters of declining sales. >> it's a bit of a confusing story because this is not all apple watches. if they don't have that blood oxygen monitor on them, then they are fine. do we know like roughly what percentage of these watches have this functionality? >> i don't know about the number. it is the newer ones, though. these are the models that went on some sale in september. this is the series 9. the series 8 had it, the series 7 had it on the altar to, so these are the current watches apple cells with the blood oxygen centers. apple is working on ways to get around those patents. there is some stuff on the software side they think they can do but if that doesn't work, hardware changes are needed that will take a lot longer.

>> now to some good news around christmas because new data from mastercard shows that americans boosted collective spending by more than 3% over the holidays. all this despite big jumps in credit card debt on the resumption of student loan payments, so how long can we keep this consumer spending going? right now with her outlook at retail is somebody who worked on a program at nasa and the space shuttle. >> i did work there is a software developer in the 2000 after college. not let's go back to retail because it's just amazing. however big debt goes up, however high interest rates go, nothing seems to slow the

american shopper. >> the consumer has remained very resilient this year despite all the macroeconomic threats, especially inflation. when we look at the forecast for next year, that's expected to remain within the growth rate we saw. make no mistake, the consumer did go out traveling and hotels and restaurants where the strongest sector this year and is still projected to be the strongest next year. >> is that baked into the 3% number that i give? >> yes. >> okay, so the experience stuff -- >> is the number one area for the consumer. in terms of individual needs, amazon is still projected to be the strongest winter next year. they're supposed to be positive every quarter next year. costco, walmart for everyday low prices, consumers still want designer clothing for less and then you have those retailers that have a loyal following like lulu lemon, abercrombie and ralph lauren. >> as emma john just becoming

the default shopping place? i mean i'm just going to go to this and i'll get it tomorrow. >> yes. the consumer is all about instant gratification. they love the convenience and how effective and reliable the services. walmart, however, is giving amazon some competition. it continues to increase the amount of merchandise it is offering. in fact, the amount of money consumers are expected to spend next year online is expected to grow from 15 to 17.8% next year as a percentage of total retail sales. >> we talked about the experience stuff, travel, food. i would imagine spending is up because prices are up, so if you are just measuring pure dollars, the fact that a burger, fries and a soda can be 20 bucks know is going to increase the amount of spending. i wonder about that and also wonder how is steph doing?

are we buying things are just food? >> we are buying mostly experiences. traveling is projected to come next year down. it's important to know that the consumer is out and about right now shopping for the holiday season because a lot of the merchandise is on sale. almost 50% off almost all of merchandise is on sale after christmas. >> but not the merchandise after christmas. >> oh no, it might even go higher after christmas. >> a, i can't buy for myself. b, i know that on december 26th things are going to be half the price of december 23rd. >> here's the benchmark. if you see the discount offered to you is more than 40% after this holiday week and then you know the merchandise did not move as expected.

>> or, you have really bad taste in clothes because nobody else wanted what you're looking at. how about this giraffe sweater. 75% off. >> 40% is the benchmark. >> so if i see 50% off? >> then you're getting a good discount because even though there is more merchandise on sale but has not changed is the average discount provided. if you're getting anything above 40% then you're getting a good discount. >> so, 35% off is not a good deal? >> that is just an every day discount. that's the discount you're getting throughout the year. what is different this time around is that. of shoes that might regularly not beyond discount is on sale this time for 20%, so more merchandise is on sale, but still for less average discount promotion offered.

>> that was cool. 40% is the litmus test. good deal, not good deal. >> exactly, you got it right. >> space shuttle. that is the next question. straight ahead, a dozen reasons to be bullish. ed is going to make his case file the -- why the s&p is going to reach new highs in the next year. optimism is for you next.

you know when you have those moments? that time to reflect. to be like wow! what did i do to get here? (tense music) right. work. you worked hard and it's time for a bank that'll work hard for you. everbank performance savings is built to put your money to work with some of the highest rates in the country . going, got you where you want to be. we're the partners for your next move. everbank. advantage, you. you got this. let's go. gobble gobble. i've seen bigger legs on a turkey! rude. who are you? i'm an investor in a fund that helps advance innovative sports tech like this smart fitness mirror. i'm also mr. leg day...1989! anyone can become an agent of innovation with invesco qqq, a fund that gives you access to nasdaq-100 innovations. i go through a lot of pants.

before investing carefully read and consider fund investment objectives, risks, charges, expenses and more in prospectus at invesco.com. power e*trade's easy-to-use tools, like dynamic charting and risk-reward analysis help make trading feel effortless. and its customizable scans with social sentiment help you find and unlock opportunities in the market. e*trade from morgan stanley. with powerful, easy-to-use tools, power e*trade makes complex trading easier. react to fast-moving markets with dynamic charting and a futures ladder that lets you place, flatten,

or reverse orders so you won't miss an opportunity. e*trade from morgan stanley welcome back. is it enough? were going to find out. the s&p 500 now tries for its longest winning streak in 10 years.

joining us right now is ed yardeni, great to have you on the team. thank you for much -- very much for coming on. you have a 5400 price target on the s&p by the end of next year. by the optimism? >> then 6000 by the end of 2025. i think this is a bull market that has legs that is going to continue to charge ahead. the optimism is fundamentally based on the notion that we had a recession this past year. it has been a rolling recession. the rolling recession to started in 2022 and now, as we look ahead a year, we are looking at rolling recovery and a lot of sectors that went into recession but the overall economy is proving to be remarkably resilient, particularly the consumer. i think what we are seeing here is a significant relief rally in that we are not going to have an economy wide recession

on the inflation effect can come down without a recession. >> you just heard our session with jharonne on retail. people continue to spend. are you shocked still at the level of just confidence the consumer is showing? >> well, they're showing it by spending. obviously if you ask people, they actually tell you that things are pretty lousy, but apparentlythere is this view of americans that when we are happy we spend money. when we are depressed, we spend more but there is plenty out there. people are working. real incomes are coming up. wages are rising faster than prices and i know there is an alarm about all the consumer debt but all of that is paid off on a regular monthly basis. i mean, 22% is the charge on some of these things so i think most americans [indiscernible] and consumer credit never

really has had a good track record of predicting whether consumers would return. it is jobs and if the job market suddenly collapses we will have a recession but right now, there are plenty of job openings. >> we know this, or at least i believe this and tell me if you believe it, as well. the stock market may represent the economy in some way, but the stock market is not the economy. economies can go down or stall and stocks can go up and vice versa. if we see the economy for them a bit, can earnings grow? can multiple still grow? can stockstill grow? >> at the end of the day, the stock market is a discounting mechanism basically over the next 12 months that tries to determine whether the economy is going to grow or earnings are going to grow or whether we are going to have a recession. i think the market has done a good job of concluding that after last year's spare market,

that was not justified by the economy. the economy was pretty good. ever since october of last year and again in october of this year, the stock markets have been discounting what i call an immaculate disinflation, the idea that you're going to have inflation come down without a recession. what people forget about is that there is a recession out there. it happens to be in china and china is exporting a lot of deflation so they are doing us a great flavor -- favor. their economy is in trouble and as a result, we are getting some relief on inflation, particularly goods. >> your job is also to discount risks. if you had to point to some of the bigger risks for next year, what would they be? >> i think a lot of people are still concernedabout a 1970s

sort of scenario where we had two energy shocks. at the beginning of last year we had an energy shock when russia invaded ukraine and the resulting impact that had on the energy market. energy prices have come down and inflation came down with that, and that was very -- that is the way it played out but the concern now is with the war in gaza going on, if that becomes a much more regional more than certainly the news is full of potential for that to happen, we might very well get more involved in the whole situation and suddenly iran's oil dries up, so the geopolitical risk out of the middle east is significant. but, the market thanks and i think the situation will be contained and there is a lot of oil out there. the u.s. is producing an all-time record high and crude oil field production and meanwhile, consumers have demonstrated that when the price gets to four dollars, they cut back.

>> 5400 next year. 6000, that is 26% from here over the next two years. hope you're right, ed. thank you. happy new year to you. up next, we are talking the biggest lures as we head into the close. christina is back with some of those. >> well, can a billionaire revitalize a soccer club? details next. when you think of investment risk,

do you consider climate risk? changing weather patterns are impacting the way we live and the value of businesses large and small. this can mean disruption to supply chains, changing demand for products and shifting regulation. what does this mean for your business, your clients, and your investments? ice offers data and markets that can provide critical insight. manage your climate risk with ice. (♪♪) business can happen virtually anywhere. (♪♪) but there's nothing like being there. at national, you can skip the counter... and choose any car in the aisle... even manage your rental right from the app. so you can give some quality time to a quality cause. swing by to see one more customer... [audience cheering] and really get down to business. go national. go like a pro.

squeeze up, down, squeeze up. technology helps you stay fit. [phone rings] sorry, i got to take this call. what about our quads? but to keep your hybrid workforce in shape, you need more than technology. you need intel and cdw. we can custom configure pcs on the intel vpro platform. i can custom configure your abs. hardware based security and remote manageability let you monitor and protect devices. - this is so nice. - it's so nice. your mother is going to love her, by the way. oh boy. ♪♪

the price of oil is a big risk for next year. right now, oil is up again as things continue to heat up overseas. over the weekend, the american military carrying out retaliatory airstrikes in iraq, this after a drone attack by iran-backed fighters left one american serviceman in critical condition and two others wounded. it is not just about iraq on the red sea. rebels in yemen attacked another ship, prompting several vessels to avoid the area. this is the latest in a string of attacks only getting started. we are going to talk about all this, tensions rising in the middle east. we will be joined by helima croft, who knows a lot about what is going on. that is at 7:00.

let's get back to christina for key stocks to watch. >> we have british billionaire jim radcliffe, who has finally completed his purchase of the football team, manchester united. ratcliff will -- radcliffe will require 30%. that is why shares are up, in hopes that he will help revitalize the british soccer club after a slew of managers and only four trophies in the last 11 years. and nio revealed a new car with a high-end design and much of that technology made in-house. that is making the stock move over 11% higher rate. still ahead, home sweet home. the latest streak in housing prices showing no signs of slowing down. we are going to break it down, including which markets are seeing the biggest price gains in america. is your neighborhood on that

list? find out. we are back in two minutes. pri! gaaaaap! did you just say gap?! he's talking about expenses health insurance doesn't cover. good thing coach prime knows about...say it one time! aflac! because aflac gets you money to help close that gap! now how do we get this goat outta here? (whistles) aflac! meet one of my new homies! gaaaaap! get help with expenses health insurance doesn't cover at aflac.com. elephant would've been scarier.

♪ upbeat music ♪ upbeat music

all right, tandy, what's it gonna be, the drink made from whatever was laying around, or the one made with your drizzly haul? drizly! stock up today, sip well, tomorrow. drizly.

chinese internet stocks rebounded today, this after regulators softened their stance a bit on the latest proposal to tighten controls of online games. china approved 100 video games yesterday, both following guidelines last week that led to double-digit losses for many of these same stocks. next, a multibillion-dollar grant sending shares of intel grant sending shares of intel higher (sfx: stone wheel crafting). what it might mean for the company and its shareholders when we take you inside the

market zone. that is next. the biggest ideas inspire new ones. 30 years ago, state street created an etf that inspired the world to invest differently. it still does. what can you do with spy? ♪ a force to be reckon with. no, not you saquon. hm? you! your business bank account with quickbooks money, now earns 5% apy. 5% apy? that's new! yup, that's how you business differently.

loving this pay bump in our allowance. wonder where mom and dad got the extra money? maybe they won the lottery? maybe they inherited a fortune? maybe buried treasure? maybe it fell off a truck? maybe they heard that xfinity customers can save hundreds when they buy one unlimted line and get one free.

now i can buy that electric scooter! i'm starting a private-equity fund that specializes in midcap. you do you. visit xfinitymobile.com today. [ "i'll be seeing you" by the five satins ] the mercedes-benz holiday love celebration is here. come in now for the exceptional offers you're bound to love, now, through january 2nd. power e*trade's award-winning trading app makes trading easier. with its customizable options chain, easy-to-use tools and paper trading to help sharpen your skills, you can stay on top of the market from wherever you are. e*trade from morgan stanley. power e*trade's easy-to-use tools make complex trading less complicated.

custom scans help you find new trading opportunities, while an earnings tool helps you plan your trades and stay on top of the market. e*trade from morgan stanley. welcome back. christina is back with a look at [ indiscernable ].on intel, big day for intel and its investors. >> it's $3.2 billion in extra subsidies from israel to continue building a $25 billion

facility in the country, the new government aid sending shares up 5% higher. it also represents one of many expansion initiatives for intel. last year intel said it would invest up to $100 million to potentially build the world's largest chipmaking complex in ohio. and help -- intel has also planned to build plants in germany where it will get about $10 million in subsidies. all of this is with the aim of re-establishing intel's manufacturing chip leadership and according to steve grasso's, they finally topped -- cracked the top 10 boundaries in 2003. we are seeing intel at number nine. the boundary business is growing. it generated $311 million in revenue in q3, which doesn't sound like a lot but that is up 3% year-over-year and even though the company has had a long history of manufacturing

delays, it promises it is on track to deliver five new chip processes in four years old by 2025 although some analysts are still skeptical that intel could fall through but the stock says otherwise. this year, up 91% at this moment. >> all right. thank you very much. now let's talk real estate because the does not seem to be anything stopping the nationwide average price of a house to go up. >> you thought higher mortgage rates might but that did not happen in october. home prices rose nationally 8% year-over-year, jump from the 4% annual increase in september. it came despite sharp rise in interest rates in october.

rates have dropped steadily through november and rose sharply in december. 30 year fixed is now around 6.7%. with rates now lower, home prices will continue to gain even more due to low inventory. prices are higher than the peak in 2022 and have recovered all the losses recorded in the second half of last year. looking forward, nowhere to go but up. >> if you are on the radio, diana just did both thumbs up. nowhere to go but up. truly amazing. some of the deals are all-cash. we are looking at media. >> after a mixed year for media stocks, m and a is expected to be in the works as media giants reckoned with cord cutting and competition.

paramount faces upcoming debt payments. shareholders have been meeting with potential buyers, according to sources. warner bros. discovery is free to sell as of april 8th, and restrictions from its media deal expire. sources tell me comcast is talking about 26% year-to-date, might be interested in paramount assets or spinning off universal to parent withwarner discovery. disney stock is back up about 5% this year after requiring -- acquiring the remainder of hulu. they are debating whether to sell. none of these companies have commented, but we know they are thinking about their options. >> there is a lot going on. are there any wild predictions out there, or just chatter? i saw somebody say they thought that apple could be a buyer of

some companies. amazon. we are learning about big tech companies really becoming the next wave of the media superstars, if you will. >> i would say big companies are interested in sports rights. they know sports is incredibly valuable not just on tv but in the way we saw with amazon and alphabets and google and youtube tv make a big move into the nfl. but we are watching is the question of whether or not they make a bid for nba rights. nba rights are up for grabs. we are going to start to see negotiations in the first half of next year starting for the 2025-2026 season. >> truly amazing. when you say sports, are we digging in a little more to ultimately talking about football? i feel like we are.

>> the nfl is really valuable. that is why everyone is looking so closely at what is going to happen with paramount and global. it owns valuable rights with cbs4 the nfl. the question is, what does warner discovery need to do? they are a rare media giant that does not have nfl rights. that could be one reason why those two companies are talking. the nfl seems to be a must-have asset these days in terms of sports rights in the nba is close behind it in terms of must-see tv. >> it truly is. paramount global is where it is all about right now. that is the one on everybody's minds, whether or not that gets done. we will see where we can go from there, i suppose. >> i think the other thing to point out is that sherry redstone, control shareholder of paramount global, has a lot of options. she could just sell national amusements or she could choose to sell off pieces of paramount global such as cbs, the one earpiece, or the studio. >> what can we expect any movement on this?

>> no specific timeline but we know that last week according to sources,'s warner bros. discovery had a meeting with the ceo of paramount global, so they have started to talk. we know sherry redstone has had some meetings about her steak so those conversations have started. we expect them to pick up in the new year. >> people here paramount and maybe they go what is paramount ? this is cbs news we are talking about, right? this is the future of cbssports and cbs news. >> yes, i would say the most valuable pieces probably not the news piece, but the nfl assets cbs controls. >> are, but my point is, it's a big name. there are some longtime established players. >> s, and b.e.t. there are also these other pieces. showtime, b.e.t., paramount plus. there is a question of how these assets might be divided.

>> the crowd, you can hear them, loved your piece. julia, thank you very much. they are applauding for you here at the new york stock exchange. we are in the market zone. [ indiscernable ] we have overtime next. another update for stocks in the final trading week of 2024. the action is just getting started. welcome to closing bell overtime. i am morgan brennan. docs are rallying to kick off the final week of the year as the major averages try to extend an eight week winning streak, and turn that into nine. coming up next, tom lee tells

us why he sees