welcome to, alongside kelly evans i'm tyler mathisen, stocks coming up. stocks falling today after rate cuts are coming soon at that narrative, it takes a hit things to harder than expected inflation data. the consumer price index rising

three tenths of a percent from last month, and 3.4% from last year. a much higher than expectations, but that's all it took. we'll discuss what it means for the markets and -- >> plus, finally the day is here. seven but corn etfs are trading. what's that the prince amongst? m how do you know which one to buy? where can you even get access? we will explore all of that ahead. let's get it get quickly into these markets that which are coming back from their session lows. the dow is only 36 points from turning positive, seven for the s&p which was positive briefly earlier on in the session of course, and then nasdaq is only down ten right now. it was shaping up as a good day for big tech early, maybe we'll bring that back. everybody but alphabet in the green, google amazon in video all hit record highs today before turning lower. now they're making another run out. it's >> the same is true of microsoft, which is very briefly passed apple in market cap. there you see it. apple back on top now at two point 881 trillion a worse is

the market cap of microsoft at 2.6 trillion. either way is a lot of money. >> such a sign of the times in the rise of a.i.. we start with the markets today after that hotter inflation report which was putting pressure on stocks. investors have to figure out how this will impact the fed and earnings, and you name it or next guest has been quite cautionary saying the lagged impact of this heads tightening will continue to weigh on the market more broadly and on this business cycle. let's bring in michael canter -- chief advancement -- with 5%. welcome to. you >> i was joking with craig johnson the other day because your technical analyst has been so bullish, you've been much more cautious and this has been one of the weirdest cycles i think we've all ever lived through. >> absolutely. we had a great call speaking with it throughout the year, with all the concern -- we are actually aligned this year -- >> you see more cautious about 2020? for >> limited upside for equities, some rotation out of

the summer -- i think where we differ a little bit is how much breath we can get out of market and our view here is that don't confuse a bond rally which could really pound the markets back two months here with an earnings recovery rally. >> exactly, so we saw in other words banjos which was to the lows below 3.8% in the late december, we are showing this chart here. that's really when we saw a lot of the stocks, a lot of the momentum names in that kind of thing breakout to their highs. it's really interesting to me how much just the tenure going back above 4% seems to have changed the narrative. do you think that's the culprit here? >> i think that at the end of the year, people are really focused just on how are going to end the year. we started at the beginning of the, year and people said okay i've got a lot of growth stocks because those -- don't start for someone well in years past. all of the cyclical risky high bidder value names, went from 52 week lows many up to 52-week highs. i've got no defense.

we've priced in perfection, a soft landing, rate cuts tight credit spreads low volatility and pretty much -- i think the reality is that we got a little bit of a of out of ourselves with how much the fed will cut this year, at least given the data we have today. we've got to digest. that >> it sure does feel is that the market was pressing in a more rapid maybe more precipitous decline in interest rates that is now likely. do you see the today's cpi number as an indicating that inflation is plateauing at a higher level? is this a pause in a decline of plateauing that will require the fed to stay tighter for longer? >> it's really, we are talking about tenths of a percentage point here, and that's margin of error stuff. >> i think the most important thing for inflation is that oil prices are really low. gasoline prices are really low, for the consumer i think that's having a benefit.

the economy is still okay, employment is still okay, they are softening but not enough to really have a big impact on wages and companies pricing ability. it is declining, but i think we've seen the low hanging fruit. >> the increase in prices is declining, but prices themselves are not -- i ordered last night from a not very fancy italian restaurant in my town. a chicken charm, a pizza, and a pasta of ottawa. it was $70. >> what did everybody else half? >> it was -- i was like, wow that's a lot of money. with the tip it was 85 and you know -- >> that gets back to employment. prices are not really going to fall in a lot of the services, and that's for cpi remains sticky in this report. until you see jobs really decline, and companies can either hoard, labor or and suffer a margins in keep prices high or they're going to have to cut the prices to maintain market share.

>> one of the things you've been really emphasizing over the past years is quality. whenever you think of the, fed whatever you think of -- you have to stick with quality. on that front we are about to head in turning season which is a key time we often differentiate -- the banks start to mario for instance. anything you're picking up there and where we might see some negative surprises? >> yes, it's the earning backdrop that keeps me more staying away from some of the real high-risk recovery trades that certainly worked in november or december as we got relief in bond yields. i don't think it will continue working to start the, year we will see the russell pulled back quite a bit in a lot of the waters from that period. i think that comes back to earnings. we have coming into this corner a three-year high in large mid-and small cap negative pre announcements. these are companies coming out and saying hey, before we report warnings were going to guide you a little lower. we are not seeing a robust pick up in earnings revisions, even the markets do great but you're not seeing the knock-on effect of that. within financials, we look at

stocks every quarter that are more likely to miss estimates. due to the history of actually missing estimates, due to their cyclicality and the dispersion of earnings estimates. it, financials we've seen earnings dispersion. or uncertainty really riding out in comparison to last quarter, and three stocks are showing up as very likely to miss. one is goldman sachs next week, which i have on average most about 25% of the, time and they're dispersions of quite a bit. wells fargo tends to miss about 35% of the time, again the uncertainty has increased as well and bank of new york, 40% of the. time >> the one other name i want to ask you about is bowing, because it is so significant to the down of course the ecosystem around kind of bias more broadly. you are picking up on a weakness there as well, even higher to the latest incident. >> yes, boeing's been in our slow model for quite some time. it's, our sill model is -- it's very fundamentally driven. based on my macro outlook, it's purely looking for what we

called red flags across the financial statements. boeing's been -- the profitability has been for subpar, to say the least regulars -- and some other red flags are showing up in terms of the variance increasing and their sales. >> anything else you dimension as we head into earnings seasons to watch for? >> well, i think -- >> just the fact that you are warning that the season as a whole could be a disappointment. >> i think what we could see given that you can argue the bar is a little lower today because of all of these negative pre announcements, that may give you an indication -- you may see more companies actually beat, but will they guide higher is the question? the statistics on beating don't always correspond to companies also guiding higher, i.e. the future matters more than the past. >> we know stocks like that guide more than they like the past looking results. michael thank you as always. we appreciate today -- >> happy new year, welcome. let's get out of chicago now for the bond market reaction to

this markets slightly higher than expected inflation reading. rick santelli standing by now at the cbo. >> yes, it's a pretty busy place today and if we consider cpi was a bit warmer, and there were certain aspects of it that really merits some attention, i found that if you look at the three month annualized core that moves from 3.3 versus 3.4, it actually moved down, but the six month annualized rate moved up from 2.9 to 3.2. now, let's look at some charts quickly tyler -- we are doing a lot of work under yesterday's lows. looking at today, and you can see what i'm talking about. look at a today -- exactly the opposite. we are flirting with yesterday's highs. if i recall there were about 4:21. tuesday ten spread, it is the least inverted in two months and when it comes to inflation, there is no better place to talk to traders than this floor because obviously, it's going to make a huge difference in

how equities are treated in volatility. happy new year. you saw the cpi data today. your thoughts. >> look, follow up on the employment that we just. saw in actually robust labor market that does not mean however ironically that the economy is strong. gdp itself is going to slow down, we are seeing all of those clues out there. the thing is the disconnect between the labor market ironically and growth. those things are very different, and that's not where it was for your. scott we're getting a rebalancing. >> last time we talked, you said a lot of this inflation is structural, so it's not going. away quickly what do you mean by that? >> that stagflation, you get stagflation if you have people on the bottom of, money and the top is coming apart. the stock market, growth earnings or, poor that does not necessarily translate into trickle down right away. i think we're gonna get stagflation aryan firemen which is much more difficult for the fed -- >> last time i saw was about -- the big quarterly expiration.

what is the volatility? what types of contracts? what are you looking at as we move towards the middle of january? >> today particularly interesting, we get about number in the market contrast as -- we bounce right back. why are we bouncing back? january -- is the biggest topics for a single stop. all of the tech names are strong relative today, not a surprise based on the flows. this is -- this tends to happen until -- the ones they have topics next. week >> now i have to, ask i know that on our channel we talked about the s.e.c. and the atf in the park, then all the sudden it's good and today of course we see all of the listed contracts at sea boe. give us some thought thoughts that maybe have not heard expressed on a final word on the etfs? >> two factors, everybody is coming. in this is a whole new group of people that i can now be involved, if that's positive in the short term, but ask yourself does that positive in the long term if the regulator start regulating bitcoin day in day out? that kind of changes the reason for owning bitcoin. >> especially if you listen to

mr. gensler, he did not give it a ringing endorsement by any means. we'll give it a -- happy new year, now we're going to turn it back over to tyler and again. >> all right rick, thank you very. much we've got some breaking news now on the national deficit. it is breaking. the treasury is making a big announcements moments ago and -- it's in our d.c. newsroom. i am. in >> here there, tyler we've got a monthly treasury statement in from the treasury department. the national deficits monthly budget deficit for the united states for december of 2023 was 129 billion dollars. that's 44 billion dollars higher than it was a year ago in december when it was 85 billion dollars. that's an increase of 52%. the deficits going up here in december of 2023, and the story of interest rates meaning that it cost more to finance the u.s. government and everything that it does tyler. >> that item, along that line item alone is -- going to be, if it is not already the largest single item

in the federal budgets. as we look at our new fiscal future. amen thanks very much i appreciate it. >> it's incredible, coming up more tech firms trimming staff leaving many to wonder why -- the max of it is that magnificent. -- actually driving the names higher? power lunch will be right back. ♪i'm hearing different ways for me to screen for colon cancer.♪ ♪it's time to use my voice,♪ ♪i've got a choice, more than one answer.♪ ♪i sat down with my doc.♪ we had a talk. ♪knew just what to say.♪ ♪i asked for cologuard and did it my way.♪

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claims might have been strong this morning, but the -- latest is google cutting hundreds of jobs -- let's bring in jim also in today's check techcheck. what now? deirdre >> locality, this latest layoffs, they might be part of a bigger trend. a step down and hiring across, stack that might connected represent a new normal. it's no longer about post-pandemic workforce rebalancing, it's now about reallocating resources, and talent in the age of generative a.i.. look at the trajectory of meta amazon google hiring over the past few years. first, they got fit, they learned they could do more with less during the year of efficiency, then a.i. comes along further enabling or even super charging that drive. -- the 20 2:23 get fit trend

dovetailed right into the 2023 2025 a.i. adoption driving massive upside in productivity. tech could just be the first, now as other industries adopt a.i. efficiency, as the pace of hiring, that could slow as well having a major macro impact across labor. as for the mega caps, themselves non core unprofitable businesses like streaming devices, that could give way to a.i. ambitions that amazon, the latest -- one prime video in mgm studios. at the hardware -- that makes fitbit watches, as well as the unit working on its a.i. systems. generative a.i. has moved into a mission critical position, so i projects or moon shots that may grow out of those ambitions, not exist separately like they do now. google assistant could be seen as redundant. on that note, openai's g8 pt stores now open for business, essentially if apple -- and that's another indication that the stasis driving quickly, and even the incumbents need to

keep up, and i can tell you that these so-called gpt's, they needed less engineers to develop then something a product like this would have in the past. this trend of layoffs, but also slowing hiring seems to be here to stay. >> i hear you saying effectively that the companies maybe will take a page out of matt's book. last year was the year of efficiency, in or the words that the companies may become leaner, but more focused. >> i think that's the first phase. that year of official, see more focused that's what wall street especially has demanded over the past few years after all of the pandemic hiring and spending. what i'm saying is we're seeing the beginnings of a new phase, when that's enabled or supervised by a.i.. they got efficient and other realizing that they can keep that efficiency, or become even more officiant by forming out tasks to a.i.. may not --

because a i can just take on those tasks. >> tech just might be the first -- >> thank you very much, thanks to. we >> takes their, head time -- are adding to the polls on saturday to elect a new president and legislature. the results could be a game-changer for u.s. and china politics. deilonpor nccotas e weluh mes back ♪ ♪ every day, businesses everywhere are asking: is it possible? with comcast business... it is. is it possible to help keep our online platform safe from cyberthreats? absolutely. can we provide health care virtually anywhere? we can help with that. is it possible to use predictive monitoring to address operations issues? we can help with that, too. with the advanced connectivity and intelligence of global secure networking from comcast business. it's not just possible. it's happening.

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that big energy deal we talked about yesterday, it's official, chesapeake buying southwestern for 7.4 billion dollars. here is what bill break-ins and scholar capital tell us about why the steal is a perfect match. >> if you look at the red counts, there are frock crews, they are very similar and so you can have rid efficiency and drilling efficiency, but you can also have operational efficiency. a merger makes a lot of sense for these two companies. >> let's talk more about this now worth -- we should add an asterisk that

it means to have regulatory -- or not have them come and stand in the way. >> that is certainly true, and obviously these deals have been more closely scrutinized, and this -- this combination would create the u.s. gas producer still, there is only about 78% of total u.s. natural gas. it's not like the have a lock on the market by any. means that's less than 10%, and so there's less of a case potentially. definitely, the -- but still, regulators will probably take a look at. it what's really important here is that you have seen all these and what's driving all of these is this specific. acreage -- exxon wanted pioneers, in the case of saffron chevron and -- it was all about the access. with a steal, chesapeake is looking to expand its footprint in hainesville. you can see on this map that's in

if texas and western louisiana, and the reason why that region specifically are so important it's because it's right next to the export facilities, and so that's what's chesapeake is betting on, here southwestern was asset in the yukon marcellus region. that's an appalachia up in the north where chesapeake is also drilling. it's a strategic play that the avenue of growth here is going to be an lng, and that's why south chesapeake wants a bigger footprint in hainesville. >> so, the thinking right now or at least what i'm hearing sensing for what you're saying is stats while regulators were certainly look at, this it's almost an obligation to, the and result in terms of market share of this combined entity would not be that great. >> that's right, it would only be about 78% of u.s. total u.s. production, and that's not that big of a market share, it's not that big of an a lock. however. >> who would still be bigger? >> they will be the biggest. they will leapfrog eqt to become the biggest.

that certainly means that -- >> and yet it still only 70%. it does follow on this phenomenon that the bigger players are getting even bigger. they now have a much bigger portion of the, pi not just in that gas put in oil as well. that is a team that's playing out, and with predictions for even more electively throughout the course of this year, that could be something that gets a little bit of closer. look >> we looked at the speculation when he was on a few months back, and -- how would you feel about no longer being the number one player? i think he said it was not as important to be the biggest as it was to be the. best if it does drive efficiency across the industry, that's good. >> they say 400 million in this efficiency deal, they are banking on that. the other thing as you want strategic acreage, and then you want synergy so you can cut costs. >> thank you so much. we appreciate it. >> let's go for c b and b c news update. >> donald trump had his five minutes and courts and now he's getting out. even before the proceedings

were over, the former president said he will hold a press conference and then next few minutes at his wall street property which will fall during the state of attorney generals closing arguments. the judge allowed trump to speak in the courtroom earlier this afternoon, he used to that time to call the case which could cost him up to 300 and $70 million, and bar him from the new york real estate industry. well, he called it a fraud. congressional leaders are reportedly closing in on roughly 70 billion dollar -- that would expand the child tax credits. tell nbc news the arrangement would also provide new business friendly tax provisions in exchange for the democratic push to expand that child tax credit. the iconic fruit straight gum is now gone. the maker of the product says it decided to sounds at the 54-year-old brand, and it's

mascot -- the zebra. you may remember each stick of gum contained a temporary tattoo of the zebra. i can't say i remember him do you? >> you just took the thought out of my head, i cannot say that i remember this. it's vaguely in there somewhere. i don't remember it, therefore i am sorry to say i'm not going to miss him. -- >> not as much nostalgia. >> or thank you very much for that senate. news all, right still to come intuitive elements on the geopolitical stage on stage in -- we will discuss that when we come back.

welcome back everybody, the day has finally arrived again for pit coin after an initial fake out caused by that hack on the fcc, x account. the first ever spot bitcoin etfs received the greenlight. they are up in, running the swans saw big swings on the first day of trading. mirroring a volatile deal for protective prices more broadly. vanguard telling us bitcoin

atf's will not be available for purchase on the vanguard platform. they have no plans to offer funds of laura. maryland also reportedly taking a similar stance, 11 funds however starting to trade today with the two biggest being the gray scale bitcoin atf, and the invest go galaxy bitcoin atf. gray scale ceo michael sunshine weighed in on the historic event earlier today. >> investor should have choice, but lgbt c is coming in every differentiated way. it's going to be out of this morning the big second largest spot commodity etf in the world. it has 28 billion dollars of assets under management. other issuers may try to differentiate on fees, 40 ptsd bout size, liquidity and traffickers. >> trying to -- and all this, works is kate really. let me begin with. you how did these funds get up and running so quickly post

s.e.c. approval and how did they instantly, instantly accumulates what the dakota say 30 billion in assets? >> that's a particular example with gray scale because they are already running this publicly traded gray scale bitcoin trust. it had that for years, they had about 28 billion dollars in assets. they did what's known as an uplift. they converted that bitcoin trust into an etf. that's how they were able to gain the momentum. others are trying to catch, up but they did some seed investing basically where they got money from private investors before they launched this, so they were able to accumulate billions of dollars ahead of these launches, blackrock's a good example where they were able to raise money ahead of, this but a lot of the back and infrastructure kind of boring stuff that we don't normally talk, about it when it is -- happen over months and months like the authorized purchase -- they have been preparing for this knowing that this was one of the worst kept secrets on wall street. someone described to me the other day. they knew this was, happening they knew they were going to

get approval. they've been ready for this, and they were ready to launch today. -- >> bob, how easy is will it be to invest in one of these things? obviously, you don't -- there priced in such a way that you do not have to spend for example, 40,000 $50,000 to buy a bitcoin. >> yes, this is a beauty of the way it's set up now, and why people are in favor of bitcoin, etfs. this is a safer cleaner way to own -- it transformed goals 20 years. ago you and i were around for the golgi -- in 2000. for a lot of people used to own golden goal, bars and gold coins in a basement. all the sudden you did not have to do, that it was a custodian to hold it, for you and that's what's going on with a bitcoin atf. it is now custodian -- that holds it up, if you don't forget your, password they hold it for. you that's the key, here the big question for today for all of us who watch this, was there a lot of interest? they're actually, is there's

considerably numbers here. i see almost four billion dollars in trading that's been going on, here and there someone or already. gray scale has -- their converting in existing funds, they're 27 billion dollars. look at i-. shares that's a brand-new fund. there they've got some significant value, their facilities also got significant. volume arcs doing pretty good overall. i say this is going to be some very clear winners, here and there is gonna be differentiated based on how much liquidity there, is what's the ease of trading, and what the fees are and you see some of these fees, the initial feeds here are for changing and six months, they'll get fees up to 1%. i shares isn't 1.2 for the first 12 months, that will go. up -- that's at one and a half percent. you see the travel there, that's a bit of an outlier but as kid has been pointing out, they can be an outlier. they've got a lot of, money it's very sticky and there's some tax implications that are coming. out if i had to write this, i'd

say interest is very high on the initial day. >> that's what i was going to ask is about these face because there's ultimately a called -- why shouldn't a fees be in a race to zero which will undermine the profitability long line? one of the tax implications that can argue for one and a half percent andres gilbert's is a couple basis points for everybody else? >> well, and keeps on some great work on this. if you sell, out with the amount of money you've made over the years, if you hold on to grace, cale it's going to have significant implications, tax implications. you're, right there is a race to the bottom just like there was with any of the stock etfs that they trade out. their this is happened many -- in the last five, day on friday night -- some people had already said this is what our fees are going to be, monday morning that was changed. they were changing around, they announced new. fees than tuesday they changed it again because they all looked at each other and said, oh my gosh we are going to lose. the rate will cut the, numbers and literally tuesday wednesday,

they were teaching the numbers. overnight -- the number i had before was wrong on the day before. think of how much the investors are going to benefit from this. the beauty of it when you see avalanche people involved. it's >> kate, that also raises the question about coinbase. the ceo was also are -- under, air they will have a custodian, they will be involved but -- who's been a long time bear has said they were going to lose money because they're starting to now person on trading right now on these etfs of course, they are not going to be on their platform, and they're not going to be trading as much, and perhaps they will go the robinhood route and start letting etfs trade on their platform, but it does have big implications for their business model, the stock has gone down more than 6%. today >> that's been one of the big argument toronto coinbase is why would you be a new investor, why would you go to coinbase faces by this alongside any other equity and your fidelity accounts are -- vanguard is not allowing this bitcoin etf to trade, but the

ease at what you can do this in a robinhood or fidelity is a threat to coinbase. we talked about fees. coinbase still charges about 300 basis, points at 3% on a lot of the retail bitcoin trading. talk about pressure, aunties this could be forcing mechanism for them to need to lower feels like we've seen play out in a brokerage world as well. i also want to make one. point i thought this was the best way to think about this i think kelly will like this reference especially, pickleball. if you think about bitcoin. bitcoin and this etf's like pickleball getting added to the olympics. clear. it's got a lot of momentum. people like to play pickleball. it's this divisive thing you've got these country club saying it's too loud we don't want to add. it pickleball is here to stay, and despite coin etf is here to. stay at that was an interesting thing to think about the relevance of this whole thing. you think about it like pickleball, it's popular and now in this case it's here to stay. it has not been at the olympics. it's a good framework. >> is it in the olympics?

did i miss? it one real quick thing, people are asking me about why don't they track bitcoin right now because the prices are all over? these are new products, except for gray scale. there was a reference price that the companies started just an ipo, they picked the price they are going to do. it don't worry, about it in the next few days these products should track bitcoin. if they don't there is going to be a problem. don't use the prices, today the reference prices don't mean that much to what we're doing. today let's start tracking that as of tomorrow. >> we are out of, time but there is so much. i don't know how we like in the pickleball analogy, but has to since, the questions that we had five years ago when they denied these etfs about where the pricing is coming, from some of the platforms that they're citing and all the rest of. it this story will go on, but we will leave it there for now. thank you both very. much we appreciate. it e -- e >> taiwan's elections could have an impact around the globe

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election saturday and giving -- the results in the aftermath could have a major impact on the already delicate relationship between the u.s. and china depending on which party. winds unison is live for us now in beijing with more on the importance of this election. yunus. >> thanks so much. tyler beijing is framing this saturdays vote as a choice between peace and war. there are three candidates, the first runner as a ruling partners like ching the, also known as william. beijing has described him as an extreme danger. the situation -- perceives him and the dpp has party to be pro independent, -- insists that taiwan is part of -- they see him as a threat. histamine opponents, especially

his main rival, and are more likely to maintain the status quo even though the difference between the parties is not really very different. for investors as well as u.s. businesses, -- then they could expect that beijing will maintain a very hostile stance, hostilities will -- most likely militarily as well as economically towards taipei, they should expect to see a greater risk of a global supply chains. if there isn't upsets however, there is a possibility that there is -- a reduction intentions, and possibly because shooting pain start a it is willing to engage in talks under that scenario. either way, whoever wins, it's really seen this very important because of the concern in

washington that a president xi jinping might be preparing for a military action over the coming years. this next period and this particular presidency is seen as critical. guys? >> perhaps you, now perhaps you don't. is this a straight-up vote and other terms, does the winner of authority way in, but because the presence of -- that's the presence of a third-party setup of the potential for a runoff? >> the expectation is that there would not be a runoff, because the third party candidate is seen as -- much younger voters, the main focus has been on lie, and how the polls have actually been narrowing, but the most likely expectation, or most likely scenario -- is that the main opponent from

the k empty. >> all right, thank you very much, we appreciate it unison reporting from beijing where it is the middle of the night. our next guest says no matter who wins the presidency in taiwan, it's going to be a big deal for china's president xi jinping and relations between china and the u.s.. let's welcome back dennis arc of, a partner at my arca vacant. scott he advises u.s. companies doing business inch and has been there more times than i can count. dennis welcome to have you with. us there are two main parties here. i find it slightly ironic that the more quotes, acceptable or moderate one in the eyes of beijing's the came to, the clementa nguyen is the party of qin caution. >> that amazing, that shanghai shekel to of his people to taiwan,. the -- was the big animal, but at this point that the pp, the

democratic peoples party, which is the party of the current presidency, it has over the past years drawn a very careful, but i think plant movement away from china, and towards the west particularly the u.s.. >> what a victory by law it be a scene in -- as he seems to suggest as a more provocative result for china? or would cause them to become more bellicose and baylor journey. >> the answer is, yes. i go back, we had an interview a couple of months ago, you remember when the president met with -- in san francisco and the most famous quote from that was, reunification of taiwan, with china is inevitable. that is what biden was told by sea, and if anything since then from observing from afar what's going, on they ratcheted up that even more. when you see him saying look,

this is a question before trumpison work, that's really very frightening. >> i wonder to your point about it's inevitably, if this is actually a choice about war, or of everyone's coming around to this idea of its inevitability. >> kelly, i don't think that war is inevitable because china -- >> reunification is inevitable, and i'm not sure at this point do you feel like the stakes are being lowered somewhat? that it's almost as if the internet -- is preparing itself to resign itself to this reality. >> i hope not. china has said by 2049 100 years kelly since the chinese communist party took over, we are definitely going to have taiwan. i don't think that reunification is going to come about through military situation now. basically, season paying has three. options do something with the island surrounding taiwan, blockade taiwan or actually militarily attack. i do not think that the chinese

at this point have the capability or willing to risk their overall economy with what would come as a result of that from invasion. our things being ratcheted up? yes, and is that tpp if they when william law yes? i think it's going to be more serious. >> watch american businesses that have a stake in china either as a manufacturing source or markets what should they do on monday morning when the results are now? is there anything they need to be doing highway of preparation? or reaction. >> a great question, i think i would advise whatever device for the last five. years if you are so sourcing out of china, the prc, you need to look at alternative sources of supply. that does not mean just not doing business tile, but you have to say look, i cannot expose myself as many companies did during covid to a sole source supplier to china. that means the board of directors and the c-suite executives of gotta say this is a venture priority, that's what

i would do monday morning. >> all right dana, snakes great to see you dennis archivists again on china. >> thank you. >> microsoft briefly overtaking apple as the world's most valuable company. coming up we will trade in -- we are back into. [♪♪] your skin is ever-changing, take care of it with gold bond's healing formulations of 7 moisturizers and 3 vitamins. for all your skins, gold bond.

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looking at the less aggressive positions. this is going to benefit microsoft and meca caps. >> is feels like a bigger preview. >> better expected q4 exults. -- results. the stock is in the red right now. what do you do with that? >> home sales are down. home prices are down. revenues are also down for the

last year. we believe that is going to continue. the 70% mortgage rate range, that's not allowing it, especially first-time buyers allowing a new house. current homeowners have secured a 3% mortgage rate during covid. they are reluctant to face 7% to 8%. we think this is going to continue until we see significant mortgage rates. they have different allocations from other sectors. bitcoin is up more than 10% this month. we hope that they would approve the spotted etf. it did. game changer. they let the investors playspace without directly owning stuff. they did so yesterday. 11, new bitcoin spots, started today. which one, if any, do you like

best? >> the underlying asset, will keep it going with that. a lot of this is safer. this is a more convenient way for institutions and running managers to buy, and get exposure, instead of buying directly. we have a single security. there is nothing different about it. it all comes down to the custodian is. this is except for fidelity. also, the extent is right here. we have seen the prices come down. expense ratios are going to come down. this is for the first six months. whether 1 billion or 5 billion. they have the biggest asset manager out there with 2.5 billion. they have economists on the scale to be among the winners. they have further drops. we have already seen that into the race. >> thanks for being with us

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selling 20,000 vehicles from the u.s. fleet. shares are down 4% today. they have a big agreement. >> they have a lot of those cars. you will likely notice an electronic safety board. festive themed jokes, they don't like that. lose the humor. cut that out. no phone on the road. i think they are good. it gets you thinking. >> we have 45 seconds left. melancholy is stepping away for a few months. doing the most joyous of things. that is to add to your wonderful family. >> the most difficult. you have four, and number five. coming along shortly.

the floor is yours. we are going to miss you so much. >> i need it. everyone has to watch peacock. >> we have the exclusive streaming playoff game. >> bill belichick is out. what do you think about bill belichick and nick sabin? >> we are not going to let them get too comfortable. >> closing bell, start right now. >> welcome to closing bell right now. wall street, playing it cool after another report. very firm. 1% come back from early losses. after the headline, cpi came in above expectations. leading the s&p 500 1% away from the