it's 5:00 a.m. here at cnbc global headquarters. welcome to "worldwide exchange." here's your "five@5." back in black. stocks trying to keep their winning streak alive. futures right now, though, have just turned lower. retail doing its part as gap and one discount retailer see their shares surge. on the other side, reddit slammed as millions of discounted shares get set to hit the market. plus, gaetz out, bondi in as the trump cabinet shuffle continues. and later, closing in on 100

grand. a look at the stocks tracking bitcoin's record rally. it's friday, november 22nd, 2024. you are watching "worldwide exchange" here on cnbc. ♪ good friday morning. thank you for being with us. i'm dominic chu in for frank holland. let's kick things off with the check of the futures after a positive day for the stock market overall. as i said, we just turned absolutely lower. futures markets implying a 97 drop for the dow. 17% drop for the s&p and nasdaq down 86 points. fractional declines. it was a big day yesterday. for the week, the dow, the s&p 500 and nasdaq and russell 2000 small caps have all been positive as you can kind of see

here. over the week, it's just been a generally 1% to 2.5% move for the ces. not so for the majority of the magnificent seven. all of them but nvidia coming off a negative thursday. alphabet getting hit hardest. down again today down .50% of 1% in the pre-market trade. ahead, why regulators may not be the only thing that alphabet needs to worry about. we are watching crypto prices with bitcoin closing in on the $100,000 mark for the first time ever. $97,783. these are record levels just off those highs and closer and closer to the $100,000 mark. it's a mixed session in asia with the hang seng moving. if you look at the european

trade, it's green across the board in the early action there. then the euro falling to a nearly two-year low on the back of some pmi data. meanwhile, on the flip side, the dollar index is hovering near a two-year high. it may make sense. weaker european markets and stronger u.s. markets. right now, the dollar index, you see up .75% of 1%. we have a busy morning shaping up with the money movers. reddit hit hard in the pre-market trade. you see the moves, at least for reddit, down by 7.5%. a major reddit shareholder advanced magazine, looks to borrow against its stake to sell 8 million shares to raise $1 billion. the shares would be offered between $145 and $148 per share. that is an 8% discount to the reddit closing price yesterday. the reason why the shares are

down 8%. shares of intuit. the software maker with the forecast out which fell short of expectations. the company said revenue rose 10% for the year on the recent quarter. earnings came in better than expected. shares down 5.5% in extended trading. a pair of retailers tapping off. earnings and sales estimates for the most recent quarter and raising the full-year guidance. gap shares up 14%. ross stores also higher after a quarterly earnings beat. revenue came in just short of estimates. nonetheless, ross stores at 7% higher in the pre-market session. let's turn now back to the broader markets as investors look to close out what's been another positive week, hopefully. we bring in vance howard of howard capital market. vance, we had the post-election

run and a pull back and now trying to make the record run again. what does this tell you about the momentum going into next year? >> going into next year, i'm incredibly bullish. if you look at the cash on the sidelines, go to the federal reserve web site. there is $6.5 trillion in money market ready to be deployed. earnings came in strong. impressive on earnings. everything is a go. the aca byline is positive. investors eed to stay fully invested. i think 2025 could be a banner year. >> if 2025 is a banner year, what is the leadership there? over the course of the week is the small-cap stocks. some could say it is a catch up trade. it is broad especiallying out. the magnificent seven are not necessarily the ones doing the heavy lifting, but they have to do the heavy listing. how do you reconcile all that? >> i have been talking about small caps all year and i have

been bullish on small caps. small caps were volatile at the beginning of the year. they are doing well right now. the trend is up. i think small caps will do well. regional banks will do well. you start to broaden outs what you are looking at. one asset class, dom, that seems to be overlooked all the time is convertible bonds. the convertible bond trade is breaking out. if you are looking for a fixed income trade and not because the fed hasn't dropped rates, but there is a tremendous amount of opportunity in 2025. there is a lot of under valued sectors that haven't participated in the bull market. >> what are the under valued markets? >> i go back to regional banks. those are two under valued sectors. the convertible bonds looks attractive also. we were talking about coinbase. coinbase is an offshoot to

bitcoin here. they have a brokerage custodian, but also getting into payment processing with bitcoin. bitcoin is all the rage as you know. it is almost to the point it is parabolic with bitcoin. you can be cautious with that trade. >> coinbase and crypto is a focus for vance howard. thank you very much. have a nice weekend, sir. >> thank you, dom. to a developing story now nd former senator matt gaetz pulling out of the running for attorney general. the president-elect out with a new choice to run the department of justice. nbc's brie jackson has more from washington, d.c. >> reporter: trump is not wasting anytime. the new pick for attorney general is pam bondi. the announcement came hours after the first pick matt gaetz

withdrew his name after allegations of sexual misconduct and illicit drug use. gaetz denied the allegations. he posted on social media about withdrawing the nomination. he said my nomination was becoming a distraction from the critical work of the trump/vance transition. the selection pam bondi was the 37th attorney general of the sunshine state. she was part of the president-elect's defense team during his first impeachment trial. she worked on the trump administration on ending the opioid crisis and combating the drug addiction. mr. trump wrote that bondi will refocus the doj to its intended purpose of fighting crime and making america safe again. dom. >> all right. thank you very much, brie jackson. a lot more to come including

the so-called cash cow's victoria greene said should be on your holiday shopping list. pressure from google and one massively powered upstart powered by microsoft. and the look at bitcoin's sky rocketing surge nd the fundamentals. and later on, a big week for retail just in time for the holidays. a naughty and nice list and out with those reports when "worldwide exchange" returns after this commercial break.

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in theaters now.

welcome back to "worldwide exchange." right now, shares of alphabet are under pressure after sliding 5% yesterday on the back of the justice department calling to divest the chrome internet browser. now chatgpt creator openai has recently considered developing a web browser of its own potentially looking to take on chrome and the internet search dominance. let's bring in alex kanterwitz. alex, i'm surprised it was a 5% drop for alphabet shares. put it in context for us, is this important because there could be the opening salvo of

more actions down the line from regulators? >> look, i don't think the market thinks that google is going to have to divest chrome. i think this is an opening like you mentioned, opening move from the department of justice saying let's put it all on the table. let's have them break up chrome and negotiate from there and get a deal. that is the true understanding the department of justice is serious. they want big concessions. the feasibility of breaking off chrome is not going to happen. you saw the relatively moderate dip compared to what we expected. >> that sounds like a very trump approach to dealing with ors at this point. >> you got to negotiate. >> that's right. let's talk about the competitive aspect here with openai, which is all rage right now and has access to capital. what exactly would it look like

for competition for chrome if openai were to come out with a search product of its own? >> if openai is building a browser, it would give it access to the holy grail of the search bar at the top the browser. if you think about it, without chrome, google is just a web site. it makes chatgpt potentially the default within that browser and turns google back into a web site. google built hrome where google is the default search for everyone. that has been important to maintain dominance. if openai builds a browser and puts a search engine in there, that is a much bigger threat to google than whatever the doj is thinking of. that being said, building a

browser is difficult. unseating chrome with 65% market share is super difficult. many have tried. it is not an easy walk in the park for openai here. >> alex, what is interesting here, we often as users of internet browsers and search engines look at the tools that we use. for alphabet, chrome is a gateway to collect information on us as well. what happens if chatgpt or openai gets access to all of the things we're interested in? >> dom, you are right. what is our browsing data and the information these companies can glean? they are collecting everything we do and what can they do with that? not settled yet. however, we are giving these chatbots more about ourselves. we trust them more than any computer service. with the chatgpt, i'll tell you

everything about my day. you can know more about me. there may be more trust from consumers to allow an openai browser to know more about them so it can make their lives better. i think it is definitely, if this works, it's a great move for openai. i think this is where everything is moving on the internet. it is uncharted territory. we go down this road and the privacy concerns show up later. one thing consumers have shown on the internet is they are ahead of privacy advocates. they say this is an important thing to watch, but consumers say take my data and serve me. >> the open things. alex, thank you very much. see you soon, sir. >> thank you, dom. still ahead on "worldwide exchange," a closer look at president-elect trump's cabinet

picks and what happens when a private story goes public. that story next.

welcome back. the stock market has been on a roll this year, that's an understatement. the s&p 500 is up 25%. investors had plenty to cheer about with equities average annual return for the s&p has been about 15% annualized over a five-year span. for those who want to seek a

little moral alpha, there are upside opportunities. let's talk about this with jake miller at opto. a private investment platform. this is great. we're going to pull the curtain back a little bit that we don't see on the tickers on thebottom of the screen. what is a private investment platform and how is it utilized by professional advisers? >> private markets are as varied in many ways as the public side. public equity, there is private equity. more with the private credit space in last decade and things we have traditionally private, real estate. the issue is there's a lot of stuff. as you noted, you don't have tickers and data. how do you find what's out there and what's worth investing? having a platform to carry that and allow access.

just because you know about a fund doesn't mean you know how to get it. >> let's talk about the access aspect. it has always been the quote/unquote credited investor. either those very wealthy or make a lot of money or both. is that still a hurdle for people to get into private investments with access to private firms like yours? >> it is a key aspect. private markets are liquid in nature. that can vary from a three-year lock up to 10 or 12 plus years. the investor needs to have that timeline. is there a chance i need this money in the next five years. do i need to buy a house? if that is the case, you probably don't want to lock up for that long. people start to exceed that threshold. yes, there is a portion of wealth. beyond that, it might make

sense, but we urge caution and the entrance to the market ma make it more liquid. >> i was at the future proof conference this year and did a panel on private investments. we talked about things like real estate which is traditional, but private credit came up. you mentioned it just now. where are you seeing the most demand for the private type of investment? >> i would separate demand and our interests where we see markets going right now. there's been a ton of capital in the last two years flowing into the largest loans to large companies. that tends to be unsecured. tends to not be investor friendly in terms of the protections of the lender and that's for logical reasons. so much capital is flowing in to the semi liquid products. they have to put that capital to work. you only have so many hours in a day. you focus on big loans. everyone is focused on the same

big loans. the normal things happen with concentration. a ton of capital and effort. we're really excited with places under served by the banks and lenders. loans, sub millions of dollars to companies which struggled to get normal bank financing. >> got ya'. credit is still the hot spot. jake miller, thank you. as we head to break, we're watching shares of e.l.f. beauty or e-l-f. the company is overstating its inventory and disclosing a new short position. now the company's ceo is speaking out with our own jim cramer on "mad money" denying the allegations as nonsense. a very interesting story for sure developing on e.l.f. beauty. shares up in the pre-market. "worldwide exchange" is back after this had. >> the report was absolute

nonsense. the claim they couldn't see import data from us is because we asked the u.s. customs and border protection in february to make it confidence for competitive reasons. our facts ravel their entire report. they are trying to move the stock down at the expense of the shareholders. we put out the facts. our investors like that.

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i am very confident we don't go back below 80. that's where we took off 76. pre-election. that election move. it would be shocking to me if we went back. listen, there's a ton of leverage in the system. the crypto community is leveraged to the lt. there will be a correction. >> that was digital founder michael novogratz saying a pullback could be coming for bitcoin, but the crypto run is showing no signs of letting up this morning. knocking on the door of $100,000. welcome back to "worldwide exchange." i'm dominic chu in for frank holland. much more on the post election run and the crypto related companies and stocks riding that particular wave. first, let's kick off the half hour check of the futures.

we're slightly down. the dow implied lower by 132. the s&p off 20. the nasdaq, that heavier tech trade, down 100 points. for the week, the dow, s&p 500 and nasdaq and russell 2000 are all in positive territory. as you see there, the russell 2000 is the one leading higher. small caps s playing a bit of catch up. shares of alphabet reeling on the department of justice to call for them to divest the chrome browser. and chatgpt and openai considering developing a web browser of its own. shares off .50% of 1% after the 5% loss yesterday. as i mentioned bitcoin, those prices knocking on the door of $100,000. in fact, the check right now is

$98,478. just to give you some context, the ay high so far was at one point, 99,925. since the election, since president-elect trump got elected, it's up 42%. again, a big move. a lot of this is purely seeming like speculation for a crypto friendly white house and broader use case for the asset overall. still, all of those are along for the ride. a number of stocks, though, are now moving with the fortunes tied to crypto's rise with names like coinbase, robinhood, riot platforms. mara holdings as you see there. all catching that bid with bitcoin's rise. then there is the bitcoin proxy, microstrategy.

aside from the drop of, it is up 76%. way more than bitcoin. beyond bitcoin and the stocks tied to the rally, there is another part of the market that may deserve more investor attention. cnbc markets and crypto investor joins me now. this is an interesting move because everyone is now looking for the next play, right? the thing that's a derivative action on the price of bitcoin. what exactly does it look like now? >> bitcoin is almost at $100,000. it really has been crawling there since this rally. naturally, anyone new to the space is thinking $100,000 is expensive and maybe we want something moving faster. you do see that. that is common in a bull run when you see bitcoin with the all-time high and the alt coins and meme coins and doge coins

and others rip and go to the moon. i think there are a lot of different views in the space. we have wolfe research just this week saying they expect the coins to out perform into 2025. they are very interesting because, you know, meme stocks in the stock market is a small thing, but meme coins and crypto is huge. it is part of the culture and way to express yourself in the crypto native world of investing. it might seem silly, but i think it's not going anywhere. i think a number of analysts would say the same thing. you have seen a little bit of this since the election. that trump crypto trade has looked often times a lot like bitcoin versus crypto. then you see the crypto stock play with robinhood and coinbase because they will be listing a lot of the alternative

cryptocurrencies that are not bitcoin and stand to benefit. >> with the smaller coin trade, if you will. thank you very much. see you later on today. let's bring in devin ryan, analyst covering companies like robinhood and coinbase. also with me is sarah kunst. devin, let's start with you. the interest driven through crypto and not just bitcoin. how is that translating to corporate performance like bitcoin or robinhood? >> good morning, dom. we are seeing it in several factors. one, you are seeing significant more volumes. volumes pre-election versus post-election are up 3x. tremendous near-term activity in the space. robinhood, i would say, is seeing kind of similar types of activity in crip crypto.

that's great. what this does is it unlocks unnovation that has been held back in the space. crypto is not about the casino and trading coins back and forth all day long, although there is a lot of speculation. i think it is about the opportunity to do more and payments and remittance and stable coins. coinbase is a leader in integrating that. robinhood will now do a lot more. something that is 10% of robinhood's busy could see being 25% or 50% over the next few years. really huge opportunity. price also is going to drive interest. we see a lot of factors that can still drive prices in crypto higher here. including strategic reserve and bitcoin etf and tens of billions of new capital coming from institutions that were previously held out. >> devin, if i could follow-up quickly with the charts of coinbase and robinhood and the

moves since the election. from a fundamental analyst standpoint, how much of that upside is priced into the stocks? how much more can they run given that construct? >> we have been bullish, but i think there is a fair amount more to run. i think you can support it fundamentally. with coinbase, they are running $6 billion of revenue this year. we see them over the next year or two just on some of the new aspects getting unlocked and getting north of $10 billion of revenues which is $12 of earnings power. that is not the best-case scenario. we think in the next four to-year, we think $15 billion of coinbase which is $20 of earnings. you see $20 of earnings in a price that doesn't seem extreme. robinhood with volumes up and the big story is what do they do with the tokenization?

what do they o with staking? there is a huge opportunity because some of the firms hold back. you look down the path. schwab will enter the space. that is unlocking new pools of capital to come into the industry. >> okay. sara, what is interesting about this and devin brings up an interesting point about how the ecosystem could possibly grow. we recently saw record go out and buy trade emr which is a trade platform or investment advisers. it speaks to how they are growing and schwab may not be the only game in town. what exactly is the momentum like in that environment where ecosystems are growing? who becomes potential targets? >> i think there are a lot of potential targets especially with the new administration that is going to take a kinder view in m&a. i am interested in names that are creates a lot of buzz.

gemini and the crypto marketplace. i think a lot of those exchanges and infrastructure plays that people have been building for years and years and forgot about for the last couple years and the larger market will be getting calls from big acquirers. >> if that's the case, sarah, how exactly does the momentum play out given the fact we have seen this massive surge in not just bitcoin, but all these smaller coins as well? what is the investing angle if you are not necessarily looking at meme coins, but playing the broader push in cryptocurrencies overall? >> meme coins are dangerous. you can make a lot, but you can lose your shirt. i think where people are looking one continues to be is bitcoin. i know it feels boring, but there is still room to run there. i think you will see people broaden that out and look at things like stable coins and, you know, even into some of the products like the etfs on the

market where you are getting exposure to the coin for the institutionals or for whatever reason people can't hold crypto. >> sarah, one last word to each of you. sarah, i'll start with you. if you look at this, is there an allocation aspect for some of these types of cryptocurrencies? >> i think there are people who have not yet gotten in the game who want to get in the game. i think there is a lot of institutional money on the sidelines waiting to see what the new administration would bring because the biden administration hasn't been the kindest to crypto. this is crypto's third act. we have a lot of bad actors in jail now and it is time to see crypto come into its own. >> devin, do you think allocation will drive more upside for the companies you cover? >> yeah, it's one of the most important factors here. i've been doing this over 20 years. follow the flows.

the flows are coming and we're early days. the etfs, bitcoin etfs, research showing $220 billion of assets in the next three years. if there is strategic reserves, that could be hundreds much billions in bitcoin. if you think about the other crypto tokens that are -- we've been uncertain about or the securities or not -- that's tens of billions of dollars coming in with tokens and investing in the space to innovate. shuts absolutely the flows are happening. >> we're pushing up on nearly $2 trillion of market cap for bitcoin right now. devin ryan and sarah kunst, thank you. see you soon. a programming note. don't miss the interview with microstrategy founder michael saylor coming up on "squawk box."

a must watch there. coming up, c-suite with chris wright unwinding conflicts before becoming the next energy secretary. that's coming up. hi, i'm damian clark. i'm here to help you understand how to get the most from medicare. if you're eligible for medicare, it's a good idea to have original medicare. it gives you coverage for doctor office visits and hospital stays. but if you want even more benefits, you can choose a medicare advantage plan like the ones offered at humana. our plans combine original medicare with extra

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why humana works with multiple large plan networks of doctors, hospitals and pharmacies. so, get the most from medicare with a humana medicare advantage plan. you can have more coverage than with original medicare with $0, or low monthly plan premiums, and a yearly cap on your out-of-pocket costs. it's called medicare advantage for a reason. so, call a licensed humana sales agent today to learn more, and to request a free decision guide. remember, annual enrollment for medicare advantage plans ends december 7th. humana. a more human way to health care. welcome back. president-elect donald trump's pick chris wright for energy secretary is bringing up concerns about executives unwinding their private interests as they look to go public, so to speak.

we have more with pippa stevens. >> good morning, dom. this is not the first time president-elect tapped an executive for a cabinet position. it can be complicated because they own assets that could be a conflict of interest. the ease of blow from private to public sector, you are allowed to defer captain gains taxes you are required to divest. in the case of liberty energy ceo chris wright, the nominee for energy secretary, he owns 2.2 million shares of the company worth $39.2 million according to data. once the office of government ethics decides what he needs to sell, he'll be issued a certificate of divestiture. he will have 60 days to sell the stock and take the defefrl.r re.

when the assets are sold, he has to pay capital gains taxes on that sale as well as the prior sale. he owns about $13.1 million of restricted and performance shares that have not yet vested, which, dom, he will most likely have to forfeit. >> if this is the case, what does this look like from the stand point, we know this happens all the time. how big of a deal is it for many of the potential ceos coming into the situations or even investors with big portfolios? how pervasive will this be to sell private investments to get in lines with serving in public office? >> we only know the frontrunners. there could be an entire group of people who take themselves out of the running because of

their financial holdings may be impossible to unwind. john paulson noted it was too complicated. dom, before you come under real consideration for one of these positions, you do take a look at your alth and what you could divest and whether or not it could work. some people think going to the government is a higher calling and worth it, others might say i cannot take that financial loss, particularly since if you are talking hundreds of millions of dollars, it is hard to deploy that through mutual funds. >> pippa steven s with the latet on the cabinet. still ahead, the one word every investor needs to know. and retail's time in the spotlight is just getting started. shares of gap stores and ross stores the latest to pop.

what's on the shopping list of our next guest? we'll be back after this.

at morgan stanley, old school hard work meets bold new thinking. to help you see untapped possibilities and relentlessly work with you to make them real. welcome back. big retail earnings this morning. gap's third quarter profit beat estimates and raising sales outlook for the full year. ross stores raising annual profit forecast as well. demand for low price apparel leading tjx to raise guidance this week as walmart seeking deeper discounts during this

holiday season. the but, big but, target missed as it warns of a promotion heavy season. but wait, there's more. we hear more names next week. including macy's, best buy and kohl's among others. let's get to the director of consumer research which is an lsge company. jharonne, we can see the walmart versus target. i'm kur curious what you think t that before the futures earnings can tell us. >> good morning, dom. it's good to be here. when we think about walmart and target, the u.s. consumer is all about value and convenience. this is where walmart has the upper hand compared to target and steal that market share. since the pandemic, consumers have been dealing with all issues, especially elevated

prices the past two years. as a result, they rebelled and gone more and more towards walmart going for the groceries. while they are there, they are opening up for the discretion either idiscretionary items. one thing target used to be known for and now losing all that market share to walmart, especially the upper middle class which is a loyal consumer at walmart. on top of that, the u.s. consumer is all about instant gratification. walmart has the best omni channel. consumers want to order groceries on the mobile phone and pick them up on the way home. because of this, walmart has the upper hand compared to target. >> it seems like target has to work on improving those aspects to play catch up with walmart. i wonder as i went through a mini list for next week. macy's and dick's sporting

goods. what can they tell us? >> i think the one retailer to watch is abercrombie & fitch. this is telling about the consumer because if parents are not frowning about the fact their teenagers are spending $100 on a pair of jeans, that tells you about the strengths of the u.s. consumer there and the ability to spend on discretionary items. as you mentioned department stores are reporting next week. nordstrom is expected to be on top. you have kohl's and macy's with negative same-store sales. kohl's could see an uptick with the holiday season with sephora and beauty with the holiday season. we could see a pick up there in q4. as of right now, the department stores still has been out of favor for some time. >> and jharonne, before we let

you go, what is your favorite group of stocks for 2025? >> the consumer is price conscious. walmart, tjx and ross and abercrombie & fitch and old navy. those are the names expected to do well as we as amazon. >> jharonne martis, see you soon. coming up on the show, the tech stock that is not a mag seven member our next guest says a buy. that name coming up next. in any condition and get samsung galaxy s24+, and watch and tab, all three on us. only on verizon.

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welcome back. major indices poised to cap off the second positive week in the last three. futures are in had the offer. dow implied lower by 75. also watching bitcoin as it nears the $100,000 mark. right now at $98,498. for more on the trading day ahead, let's bring in victoria

greene at g squared private wealth. victoria, is it interesting that small caps are out performing the mag seven stocks? >> yeah, for me, it is the key common rally on. we have been waiting for the world to fall apart. i don't think the world is going to fall apart. this is a referendum on our thesis here. it is great the small caps are rallying. it has to broaden out. if it was just the mag seven, the rally would not be sustainable. you see value work and equal weight work and small caps. small caps are lagging everything. they have a lot of zombies in there. you have to being picky in the small cap space. >> so, outside of the small caps, where do you think we are seeing some opportunities? we put up a mystery chart. i like to go through the tech play that is not necessarily mag seven. >> sure. absolutely.

i'm in the old school names. same song, different verse. walmart and costco and tech stock i love. ibm. big blue. all out performing the s&p. on the consulting and cloud side and the red hat. that acquisition in 2019 was a turning point for ibm. ibm is over 100 years old. they moved the company several times. red hat was the significant pivot. i know we hit all-time highs a couple of months ago and dropped after earnings. this is a normal consolidation and push higher. they pay a great dividend. they are a cash cow. this company is solid, quality. growth is there. how could you not love them? >> ibm is the mystery chart, by the way, for the people paying attention to the segment prior to us. victoria, take us through the

world the day. what exactly is it for you and why? >> it's rapids. i look at this like this valley is a white water rafting trip. you don't want to paddle up stream. it's a bull market. stop sitting in the money market. you might be sitting on the sidelines forever for the other shoe. there is not other shoe. if this plays out 95 to 99, you are talking a four or five-year bull run. we have 40% to 50% to go on average. for us, we get in charge and hop in the boat and paddle along. we might hit a couple of swells or chop. normal. don't fight the current. this is running in a bull market direction. >> victoria greene. thank you very much for your thoughts. see you soon. have a nice weekend. >> thanks, dom. as we close in on the 6:00 a.m. a few stories.

reddit is on a report that red magazine is selling the stake of 8 million shares at the major discount to the market. reddit shares are down. shares of intuit falling short. revenue last quarter jumped 10% year over year and earnings topped estimate. president-elect trump has chosen former florida attorney general pam bondi for attorney general for the u.s. and mr. trump weighing appointing kevin warsh as treasury secretary and later shifting m to the possible federal reserve chairman. bloomberg reporting that apple racing to develop a more conversational siri assist

apartments. and texas pacific land is set to join the s&p 500 next week. that deal closes later on today. futures modestly off right now. on keep keep an eye on that. "squawk box" picking up the coverage starting right now. see you on monday. good morning, president-elect trump wasted no time in announcing his new attorney general pick hours after matt gaetz withdrew his name. stock futures pointing to a pull back after the big move yesterday and bitcoin was up almost at 100,000. above 99,000. just below that now. the euro hit a two-year low. we'll show you what's moving right now. one of the things that is moving is retailer gap. soaring after the company

reported earnings that were well above expectations. also raising its forecast. it's friday, november 22nd now, 2024 and "squawk box" begins right now. ♪ good morning, everybody. welcome to "squawk box" here on cnbc. we are live from the nasdaq market site in times square. i'm becky quick along with joe kernen and andrew ross sorkin. it's fri-yay. here we go. it's snowing outside. >> i hope you're happy. >> we need it for the fires and the drought. it was snow at my house. >> 37 degrees and raining. >> it does make me happy. >> it is friday.