a new cheap iphone. not the very cheapest that it ever has. but i really think there's a lot to unpack here about apple's strategy and why i it really wants to spread across the line. >> yeah. meantime we get walmart earnings tomorrow morning. that's going to be a major market mover to watch. that does it for us here at overtime. >> fast money starts now. >> and live. >> from the nasdaq. >> market site right here in the heart of new york city's times square. this is fast money, the big show. here's what's on tap for tonight. it's the one to watch. walmart reports before the bell tomorrow. what the retail giant could say about the consumer and how it could impact the rest of the market. and apple unveiling a new, lower cost iphone, complete with all the eye fixes. will it be enough to jumpstart sales and propel the stock back to new highs? we're going to debate that. plus, what's behind eli lilly's stealth rally. devon energy shares get energized. and my beloved 40 niners go mining for

a new valuation. the trade behind all those stories coming right up. i'm dominic chu in for melissa lee. tonight coming to you live from studio b at the nasdaq here on the desk tonight, karen finerman. dan nathan, guy adami and steve grasso. we're going to start with what one of our traders says is the most important, the most important earnings report of the season, even more important than invidia next week. there you go. i know. hold me back here, guys. walmart reporting before the bell tomorrow. the stock is already up more than 15% this year, hitting a record high just last week. gains driven by an unlikely group. households earning more than $100,000 a year made up 75% of walmart's market share gains in the third quarter. the company pushed higher margin items like chanel and louis vuitton handbags of other things. not something you compute with walmart, but that's a big reason why walmart's

e-commerce business grew by 22% year over year in the last report. online sales now up double digits for ten quarters in a row. but investors are still worried about sustained growth as tariffs and inflation worries start to mount. dan, i will look to you. you were pointing out the importance of this report and what it says about the consumer, but it grabs you when you think you think that this is a more important report than nvidia next week. >> guy, before i. >> do this, you want to do the thing with dom. >> yes. let's do it. just makes me feel two. >> dom two. >> is back. >> in the seat. it's always an. >> honor to have him here. >> we are. >> showing that welcomes the. >> guest host. and you are. >> a guest host. >> yes. >> we all. >> admire and adore. >> i'm just trying to keep the seat warm here while melissa enjoys whatever time. >> i mean, when you say keep it warm. >> that's a. >> little creepy. >> all right, fair enough. >> interesting setup here. >> all right. >> you know, when you think about the stock is up 15% on the year, it's doubled over the last year or so. i think karen value lady that she is. i know she's going to get in there and have

something to say about that. but when i think about the quarter and i think about what we know about the quarter, i know a lot of folks were really excited when they printed that 22% year over year e-commerce number in the last quarter. and i say to myself, okay, it's expected to decelerate a little bit. that was obviously a pretty good seasonal period that they were in. i look at the valuation, i look at where the stock is. i basically say to myself, i just don't know what the sort of results and guidance are going to get this thing going up further. and when you look at the way a stock like this moves over the last call it six weeks or so, it's telling you that it's a very crowded trade, right? and there's plenty of stuff in retail that aren't working particularly well. you can look on the other side of this as target. i also say to myself, what sort of inventory issues might they have in front of sort of tariffs if they overbuy, you know, that sort of thing. so i look at this, i just don't see a lot of upside near term. and like i said, the options market implying 5%, you know in either direction. this is walmart here. you know what i mean. it just seems kind of odd. >> amazon numbers right now. >> well it is i mean, listen and i'll just let these guys get in

for a second. so where have they kind of been you know, benefiting from they're benefiting from stuff that's really helped amazon a lot. marketplace fulfillment you know a better customer experience, those sorts of things. you can't always put your finger on that. that's why they've had that e-commerce growth you know, go that way. but to me, i just think it seems like a pretty curious setup into the print. >> so because you are the value value spokesperson here, let's talk about the walmart numbers. and valuation wise, it's fairly easy to see that at 39 times forward earnings. it's not exactly what some people would call cheap right? >> no, it's not cheap. that having been said though, i am long and have stayed long because they've done such a good job evolving their business right. when you think about how late they kind of were in the e-commerce game versus amazon, and so i've stuck with it through then, although it is expensive. but i do think as much as it will be interesting as i care about walmart as a shareholder, i care about what it says about the economy and that point that you brought up about the over 100,000 customer is really important. i think

that customer is in really good shape, right? that customer is likely has some exposure to the stock market. they're certainly employed. and so i think that customer is in good shape. i think the momentum of the business can continue. whether or not i mean it should be i we even had a valuation this high in ever maybe. and i think if you look at the target differential, which they don't report for another two weeks or so, this is as wide as it's been. target, for whatever reason, seems to be losing that customer a little bit because they don't have the groceries that brings them in. so i don't own target here at this point. the valuation is super wide, but more than anything else i want to hear how is that customer doing? are they still buying? are they still feeling optimistic? >> you know guy, anecdotally, the target customer that karen refers to would typically in years past be the ones that you would think associate more closely with that $100,000 plus demo. if they were going to go

to a big box store, it may not necessarily have been walmart. it would have been maybe more target, arguably. where did it go wrong for target on that customer specifically. >> product mix? i mean, for target, i mean, we've been talking. >> about this for. >> the last. >> couple of years. i mean. >> they made missteps in every. >> misstep has been followed by a. >> subsequent misstep. >> now the stock has. >> bounced along. >> the way. >> but to karen's point, i. >> mean. >> the. chasm between the two. >> in valuation. >> and stock. >> performance continues to grow. >> and i. >> think it probably. >> will continue to grow. >> for target. it's just missteps. i think a lot of it is very target specific. they're just in. >> the wrong businesses. >> with that. >> said. >> walmart is. >> expensive. >> and if you. >> put a long term chart. >> of walmart. >> up. >> if you had looked at this and said pick. >> any, pick. >> 100 companies and who is this stock? >> biotech stock, a tech stock. >> an energy stock based on i the last thing you would say it's walmart with the move we've seen it's been parabolic. but it also makes sense. >> here's the rub. >> i think. >> if you're long the. >> stock. >> you almost have to do

something ahead of earnings. i'm concerned that inventories. >> which last. >> quarter were down about 1.1% on the back of almost 5.5% year over year sales growth. you might see the. inventories grow on potentially getting ahead of tariffs. the market might not like that. i think comps are going to be better than people think. i think margins will be better. but i think that inventory number could scare people. i think you got to take some profit in walmart ahead of the numbers. >> you know, steve, if the inventory numbers have been scary for some investors and traders in the past, it's been because in order to move the inventory, you may have had to discount, right? you may have had to kind of mark items down to move those things off the shelves, to clear room for new stuff coming in in an inflationary or potentially accelerating inflationary environment. hypothetically speaking, you could argue that that kind of goes away because they may not have to discount so much to get those things off the shelves, because people are just going to be paying more money in general. so what does that say about the consumer?

>> yeah. so take it back. >> a. >> little bit. >> five year performance. >> the stock is up. >> 164% against target being being. >> up 13% in. >> the last year. target's down 13%. walmart's up. 77% walmart as a percentage of their revenues 60%. groceries target 21%. >> groceries. >> the higher margin items. dom i think dan mentioned a little bit earlier, they're getting in the space where amazon is advertising. they're shopping a lot more advertising through that e-commerce, a lot higher margin. and to karen's point, with 60% groceries, they're getting people in the door. and with that buyer of an average income of over 100,000, i'm going to take the other side or not. >> really the other side. >> i think you're okay here. no one can say that. you'd be foolish to take something off.

>> the table. >> having said that, if you look at the chart and you look at the valuation over the last five years, it's traded at 21 times as high as 48 times. it's at 39 times now. not the highest, not the lowest. i think you're still okay at walmart. >> all right. well, meanwhile, the markets may be shaking off tariff fears, but federal reserve officials are concerned about their impact, maybe not just on the consumer, but elsewhere. that's according to minutes from last month's meeting. central bankers also agreed inflation would need to drop for them to cut interest rates further. so for more on that, let's bring in ben emmons. he's the chief market strategist over at strategic fortune wealth and the fed watch advisors as well. ben you're the macro maven. so tell us about whether or not this consumer in america specifically is as strong as the markets. and maybe retail results would dictate. >> adam i think. >> if you listen or read those minutes carefully, the fed is expressing a lot. >> of. >> concerns about the uncertainty, whether it's coming

out of the trade policy. >> currently and. >> now having really good visibility. >> from here. >> so the minutes. >> were. >> clear about keeping themselves on hold. >> i want to make. >> one note there, though. they really spend a lot of time for once on the balance sheet, which is a really different discussion from this. >> you know. >> consumer idea. but the concept of it is to try. >> to. >> keep things liquid in the system, not drain the reserves too quickly. do we. do with all this uncertainty? yeah, i do think you can tightening financial conditions, which then could impact the consumer. right. as in you get uncertainty, you get spillover confidence. so i think these minutes had a somewhat of a hawkish tone i felt, but also like an emphasis on staying on hold and trying to control this inflation picture. while all this uncertainty plays out about tariffs and policy. >> there isn't that much fear, though. we're looking at charts right now, ben, of various parts of the yield curve and the treasury complex there, showing that prices for treasury bonds are going higher and yields are going lower. generally speaking, they have been for the last couple of weeks now. do you think that's something that can

be sustainable or what are the catalysts we need to happen for those rates pictures to change markedly for the fed? >> well. >> i think. >> what the yield curve is saying, dom, is that we still have an economy that's growing faster than than where potential is. we have obviously upside pressure on inflation. and we saw that last week. and although some of the pc data may indicate a little softness, in the end it's stickier than normal. and i think this keeps this fed on on this restrictive path. and the market has to price it into the yield curve, you know, and on one hand it's really still long term rates upward bias towards 5% in my view. and the other hand on the front end is a bit about okay, we're staying hold. we're keeping a lot of liquidity in the system. so i think to keep it sustained, you don't want to steepen europe too aggressively by projecting a picture that inflation could be out of control. so you have to keep that message quite strong here of restrictive policy. but, you know, it could only go so long if the next inflation batch of data of inflation starts to

show the actual impact of tariffs. and as i forget, we got the tariffs on china on february 10th that could now impact cpi in the next month. so i do think there will be a sensitive number for the markets on how tariffs impact inflation from here. >> karen, thanks for being on. i agree cpi sort of trumps everything, but there was one little sort of tidbit that i thought was interesting about someone saying in the minutes that they didn't think the real rate was that far off. and i wonder if you found that. i mean, that was somewhat hawkish. >> i agree, karen, it was actually it was i think it was twice that in the minutes. but yeah, they see the fed funds rate not far away from the neutral rate. so not far away seems to suggest that there's not much room to cut here to get to get to neutral, which seems to be their goal. right? get neutral and fish should be at the target. so that does say that i think the actual cuts that are priced in currently are maybe still too many. we have one and a half price in, and the federal really thinks they're

close to neutral with an inflation picture that's sticky and an economy that's strong. so i think we should pay attention to this. the fed is still, i think, at this point of being on neutral, but there is a possibility they may go towards a tightening sort of bias. right. if this economy continues to show inflationary pressures. >> ben, if there is a part of the stock market right now, that would be the play to make. if all of those factors that you just mentioned come to fruition, this idea that we might have a re-acceleration of inflation, that we might have this need to keep pace with it, what exactly then do you do? what parts of the market do you go to? >> i think it was notable on the headlines of the minutes that energy and materials, the staples, they all popped higher on those headlines, with the fed acknowledging that tariffs could have an effect on inflation. i think that's the play there. and i think the market's already

rotating in that direction. i think that issue of play that those sectors should outperform and seems to be sort of the trend that we're in now where tech is lagging and those sectors are advancing. i found notable that if you look at the russell indices, say the one, the russell 1000 value index, those components of energy materials have outperformed even more than the s&p. materials and energy. so it indicates to me that the bears are not viewed there as as a negative, but rather like the inflation is benefiting those sectors. i think that's the play to make. >> all right, ben emmons, thank you very much. we'll see you soon, sir. >> thank you. >> all right, guy, let's go to you with this one. the rotation word we've talked about quite a bit. it happened again today that the sectors that kind of led the way energy, some staples, utilities, that sort of thing. is that something to be feared in a market that has been led for years now by mega-cap tech? >> i think embraced. >> is one word. i mean, people have been looking for rotation for the last. >> couple of. >> years, so i think they're probably people cheering that

on. the flip side of the coin is the sectors you talked about are not big enough, i don't think, to support the broader market in the same way. the ten stocks that we seemingly talk about every night are real quick about the consumer. i mean, i'm just reading us consumer serious delinquency rates. that's 90 days plus. it's at 11.4%. that's the. highest we've seen in 13 years. and that's without us being in a recession. so we're missing payments at a rate as if we were in a recession. so that speaks of to me that the health of the consumer, the fact that they're fighting inflation with credit, that to me is problematic. >> what do you think, karen? the 100,000 plus consumer maybe isn't feeling it or is feeling it more. >> well. >> it's certainly we're not seeing. >> it. >> in the credit. >> card data of the banks. >> i mean, we didn't see it in this. >> last quarter, just a tiniest tick up. i don't know if that's, you know, the big money center banks, maybe higher credit customers. but i mean, to me i like a little bit of inflation. i like being in the banks long financials. >> you know the inflation thing as you mentioned it does pretty

well if you own risk assets like so there's a bit of a wealth effect. right. and if you talk about this walmart consumer 75% as you just said is 100,000 up. but then there's always something else, right. so look at toll brothers you know yesterday and you look at the results. you could say okay there's a supply demand dynamic here. but we also have 30 year mortgages at nearly 7%. people are kind of stuck in these homes. it's not a great environment to get a home equity loan, that sort of thing. so when you talk about guy, if you're what guy just mentioned fighting inflation with credit cards or credit in general with high yields, it does speak to a fact that we're not going to get a whole heck of a lot of growth until, you know, we get that neutral rate in some ways. right. and so the fed is probably given up on getting that 2% in 2025 on that inflation target. and so that's why i just think rates are kind of stuck here. so maybe we get in a stagflationary environment when you add in the potential for tariffs as a headwind. and you know, the other thing is if the trump administration, if they've kind of overstepped their bounds a little bit on the tariff front, they might not

have a lot of leeway to get done what they want to do as far as deregulation and also tax. and i think that's the sort of thing. if you don't get the taxes this year, i think it puts out or pushes out a little bit of that excitement, at least in markets. >> all right. well the markets again just to reiterate closed at record highs. thanks. >> amidst this. >> wall of. >> worry we keep talking about that. the markets are at record highs. meanwhile president trump is on the ground in miami slated to speak at the saudi backed future investment initiative, or fii summit this hour. our own eamon javers has more on what we can expect to hear, given what we've already heard at fii. fii so far today. eamon. >> yeah, that's right dom. tragically, i'm in d.c, not in miami right now, but president trump is there this evening where he will participate in the saudi backed fii summit. as you say, it's a gathering of business executives. they're going to discuss topics ranging from carbon markets to deep sea ocean mining to bitcoin. a white house official tells me that the president's message to ceos is

going to be that the united states is open for business and welcomes foreign investment. we expect the president's remarks to start shortly here. we're keeping an eye on the podium for you. elon musk is in the room tonight. and also appearing at the summit are executives from a wide range of industries, including cryptocurrency supporter michael saylor, former google ceo eric schmidt and saudi ambassador to the us reema bandar al-saud. the summit is put on by, as you say, the future investment initiative institute. it's an organization run by the saudi arabian sovereign wealth fund, which is called the public investment fund. now it comes as investors will be watching for more details on trump's newest tariff threat on tuesday, when he said he would impose tariffs on autos in the neighborhood of 25%, along with tariffs on imports of semiconductors and pharmaceuticals down. so there's a lot here to watch for in these remarks, which should be getting started shortly. >> all right, eamon javers, i know you'll be watching intently for those comments coming up here. thank you very much for that. let's talk a little bit about just the types of things that investors will be watching

out for, coming out of president trump and all those ceos at fii. does it mean anything to you about what they would say? things like auto tariffs, things like future trade policy? dan. does it resonate with you about what these comments could do to the markets? >> i don't think so. i mean, listen, they've flooded the zone, as they like to say over the last call it a month or so since the inauguration. even before that, if you look at some of the policies that they've been talking about, i think we have a framework. i think a lot of stuff that they've done through executive order over the last month or so is stuff that was laid out in 2025. and now when you think about the potential for tariffs, i mean, it keeps going back and forth. wait, we're going to tear. we're going to tear off canada and mexico. oh then we're not oh we're going to do steel and aluminum. okay. well who knows. and then we're going to do reciprocal tariffs. oh that will be april 2nd. so again they're keeping everyone guessing. i think it makes sense to consider what the baseline scenario is. and that's probably what we get if we're going to trade the markets off of what we hear today at this goofy sort of, you

know, meeting. i just i don't think that's the way you do it. i think you could probably just be calm and assume that there's not the worst case scenario is going to happen. >> i'm also saying, just by the way, from a strictly observational standpoint, that that's pretty much how traders are reacting now, right? they're not so shocked by anything. they're being much more measured about how everything comes up here. all right guys, coming up on the show, lily is on a tear. shares of the pharma giant are surging nearly 20% over the past month. but can that climb continue? our traders are going to debate that ahead. but first strategies. michael saylor, i got to say strategy. i keep saying microstrategy's michael saylor weighing in on the company's latest bitcoin moves. how it's impacting the price of crypto and the rest of that crypto and the rest of that trade don't go anywhere. that's at ameriprise financial we know our clients are so much more than clients. they're conquerors and champions, and what matters most to them matters most to us. it's no wonder we have a 4.9 out of five client satisfaction rating. ameriprise financial. (grunting) at morgan stanley,

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>> got it. >> got it. >> boss otter. you got this. >> welcome back to fast money. bitcoin up slightly today, but still well below those record levels north of 100 and 809,000 strategies. michael saylor speaking at the fii institute's bitcoin town hall earlier this afternoon. that stock, formerly microstrategy down as sailor, dove into the company's crypto approach. cnbc's mackenzie sigalos joins us now for the highlights of the sailor's speech. mackenzie, what can you tell us? >> so, don. >> michael saylor's.

>> bitcoin talk. >> in miami today was very much focused. >> on how the digital asset. >> is the ultimate form of economic energy, calling. >> it a profound. >> breakthrough in property rights and wealth preservation. now, he emphasized that. >> in today's. >> financial system, bitcoin alongside the us. >> dollar. >> is one of the few assets that truly avoids risk. institutional investors have certainly started to buy in, tripling their holdings of spot bitcoin etfs last quarter, pushing the total market. cap of these funds to $115 billion, something that saylor called a revolution in finance. now, the bitcoin etf launch did shatter records as one of the most successful in etf history. and the pipeline isn't. >> slowing down. >> new funds combining bitcoin exposure. >> and options. >> are expected later this year. still, shares in strategy ended the session down more than 4.5%, and they're off more than 18% in the last month. now that's a saylor reaffirmed his company's aggressive bitcoin buying strategy raising $42 billion half equity half debt solely for bitcoin purchases. strategy

stock has dropped alongside crypto as trump trade. euphoria fades. >> and. >> investors shift focus to the fed's caution on inflation and stalled rate cuts. back to you. >> all right matt, thank you very much for that. steve grasso i'm going to send this over to you. let's talk about strategy and whether or not the saylor strategy on bitcoin and leveraging the buy it is going to work. >> yeah it burns both ways though though dom. so obviously when it when it goes up you. >> have a. >> levered bet. when it goes down you have a levered bet that's failing. i'm in both i'm in i'm in bitcoin through an etf through grayscale minis. and i'm in i'm in strategy as well. so it's sort of a texas hedge if you will. when you look at michael saylor he's the best salesperson when it comes to the to the. price of bitcoin and bitcoin. let's remember although down and off all time highs it was trading at 62,000. pre trump election victory. massive run.

now it's below that mental $100,000 level. so crypto is challenged short term. but if people are in. >> this for. >> the long term they're used to tremendous volatile swings. you know saylor talks about $1 million and he talks about a $13 million price of bitcoin. every time you try to trade it, it's a bad sale. there's people who wish they were in it and people who are in it. so i'm still in it. >> karen, does it make sense? does it make sense? >> i mean i'm long bitcoin. i've been long for a long time. goes up goes down. you know you live with it i don't think it's riskless in any way. but to me i don't know why you wouldn't just lever up yourself and buy more bitcoin. if one were to do that. i would never lever to buy bitcoin, but lever up to buy your own bitcoin instead of buying a microstrategy where you're paying up. what do we think? bitcoin. listen. >> i think there's a really good chance that the trump administration, even with the crypto czar and all this stuff, they disappoint the crypto

people as they're looking for maybe like better regulation or a better environment for those sorts of risk assets. because if you just go one by one. what was the news yesterday? eamon javers was reporting on this, that some of the ftc or doj investigations into big tech are going to stay just as they were in the biden administration. some of those started during the first trump administration. so i just you know, if there's a headline that comes out that there's no strategic reserve that's going to be on the treasury's balance sheet, or maybe nothing really materializes on that front. i think that number that steve talked about down there at 62,000, that's achievable again, on the downside. >> all right. there we go. so there's still a lot more to come on fast money. here's what's still ahead on the show. >> loving on lily shares quietly putting together a strong start to the year. can those gains continue, and how the company's weight loss drugs are helping tip the scales. plus ai capabilities, but for less. the latest iphone is powerful enough to run apple intelligence, but maybe won't be such a drain on your wallet. will it be enough

to drive sales? you're watching fast money live from the nasdaq market site in times square. we're back right after this. >> this is the emirates premium economy seat. >> and. >> economy. perhaps they need. >> to. >> call it something else. >> oh. >> hi, frank. >> hey, goldie. >> i'm looking for those. >> reports from yesterday. >> they're already on your. >> desk, frank. >> of course. >> they are. >> they are. >> easily isolate phone calls when i started walton goggins goggle glasses, i had no idea what i was doing. but godaddy airo does. using ai to build a logo,

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shares of eli lilly quietly putting together a nice little rally up 20% in the last month. and earnings beat and an update on its next gen weight loss dru, driving that stock higher at the beginning of february. and the gains have kept on going. the weight loss heavyweight now far outpacing competitor novo nordisk, which is in the red for the year. so can the rebound rally continue or is it time to slim down? see what i did there? guys. >> i. >> like what. >> you did. i'm going to go to you for this one. >> well, it's had a huge bounce as we as you just said. i mean, the question is, are we going to take out the prior high. which is 970? i mean, i think this is just me. i think if you've enjoyed this bounce, this is one we take some money off the table because you see how precipitous this stock can drop. by the way, it's happened at least three times over the last six months. we've seen 75 to $100 moves to the downside. so great bounce, great company high valuation. i think you understand what you're risking here when you see the downside. the downside that we've seen three times. i'd be a seller here more than a buyer. >> all right karen what do we

think. >> well i'm long i'm not great at you know, trying to sell it at the top. buy it back lower and hope i'm, you know, enough to pay taxes. so it's a volatile one. i know i'm sticking with it because i do believe we are really, really early innings. and i know it's volatile. there will be a chance to buy it at a better price, but i know at that time if that happened, i wouldn't be there to do it. >> all right. grasso, what do we think? >> yeah i mean it's hard not to agree with guy's premise of take take, you know a little bit off the table. this has been a tremendous winner over the over the years. but its year performance is up 15% one year basis. and novo is down 31% on a one year basis. plus you had a little pop today because i think that the headwind for novo, if trump puts a 25% tariff on pharma, is a tailwind for lilly. right now, i play this in a very small way with a drug that has

with a biotech called altimmune. we've had the ceo on our show as well, and this one has tremendous efficacy, better than all of these players. and i think what you're going to see is the larger players potentially gobbling up a lot of the smaller players, and maybe the juice is already out on the squeeze on a lot of these large mega-cap pharma names. >> all right. there's the former trade there coming up on the show. i promises without the hefty price tag. the details on apple's latest iphone and what the lower cost model could do for sales there. don't go anywhere. we've got much more fast coming back in two. >> welcome to reinvented with accenture. today i'm here with margarita della valle, ceo of vodafone. you were employee 25 in. vodafone italy. >> today you're the ceo. >> of vodafone. what is your strategy and vision. >> for. >> the future? >> we are changing our culture to really. focus on our customers. we need to

acknowledge that change is hard. >> but if. >> people understand it's for >> people understand it's for the right reason, then y gold bond believes touch says everything. it says... i see you. i feel you. and...i know you. gold bond. get in touch with irresistibly touchable skin. your record label is taking off. but so is your sound engineer. you need to hire. i need indeed. indeed you do. our advanced matching helps find talented candidates, so you can connect with them fast. visit indeed.com/hire ♪ ♪ the flag replacement program got started with them fast. by a good friend of mine, a navy vet, saw a flag at the office that needed to be replaced and said wouldn't this be great if this could be something that we did for anyone? comcast has always been a community driven company. this is one of those great examples of the way we're getting out there.

>> welcome to. >> cnbc's crypto world. >> cnbc's daily digital show has trading updates, the latest headlines, a global perspective and high profile interviews. and high profile interviews. scam to watc i'm not happy with the way that pg&e handled the wildfires. yeah. yeah. i totally, totally understand. we're adding a ton of sensors. as soon as something comes in contact with the power line, it'll turn off so that there's not a risk that it's gonna fall to the ground and start a fire. okay. and i want you to be able to feel the improvements. we've been able to reduce wildfire risk from our equipment by over 90%. that's something i want to believe. [skateboard sounds] nate jones... steps up to the mirror... lines things up... towels off... checks his fidelity app...

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acre doral. it's a tremendous country club in the actually the most successful country club in the us, where i was just given approval to build 1500 units and i couldn't care less about building units. when you're president, who the hell wants to build units? i've been building units all my life. i don't want to build units, but they gave us permission to do it. but today is a tremendous honor to become the first american president to address the future investment initiative institute. that's the first one. that's very. it's always a. and i want to thank mayor of miami francis suarez for being here. thank you very much, francis, wherever you may be. hi, francis. and thank you for the endorsement. when i ran, i was very appreciative, along with the mayor of miami beach, steven minor. steven, thank you very much. thank you, thank you,

thank you, steven, thank you very much. and numerous american business leaders, some of the biggest business leaders actually anywhere in the world, and many distinguished guests from the middle east and in particular the kingdom of saudi arabia, a special place with special leaders. and including fia institute chairman and governor of the public investment fund, which is a seriously big fund. yasir, i see you there. stand up. yasir. everyone knows yasir. thank you. great guy, great great person and finance minister muhammad. thank you very much. thank you. right. thank you very much. good to see you again. that's pretty good, finance minister of that part of the world. that's not bad. other parts of the world not so good. but that one is good. and many other senior government leaders. i also want

to recognize the kingdom's ambassador to the united states, her royal highness princess reema. >> oh. >> very popular, very popular. wow, that's very nice. sitting next to ellen. wow. that's. you couldn't do better than that. as well as my own special envoy to the middle east, who's really done a fantastic job. steve witkoff. thank you. steve. he's been busy. and michael waltz is here. where is michael? michael has been so busy. they've been going back and forth and back. and a woman who is just voted the most powerful woman anywhere in the world, i know i'll go with i'm going to go with princess reema. but she was voted the most powerful woman anywhere in the world. siouxsie wiles, thank you, thank you.

most powerful woman. that's pretty good. we have to talk to you about that, siouxsie. it's pretty good. and also, we all know jared kushner, a very special guy. thank you jared. thank you jared. and elon musk has been making a little news lately hasn't he though very positive news. stand up elon. he's a great guy. we did a little show last night. i heard they got very good ratings too, by the way. we did hannity. sean hannity is fantastic, a fantastic man, fantastic guy. and he did a show and it was great being on the show with you last night. i come today with a simple message for business leaders from all across the nation and all around the world. if you want to build the future, push boundaries, unleash breakthroughs, transform industries, and make a fortune. because you want to make a fortune. most of you have already made a fortune. i don't

want to say that there's no better place on earth than the current and future united states of america, under a certain president named donald j. trump, i think that you're going to do very well. but they're saying that november 5th, election day 2024 will go down as one of the most important days in the history of our country. they said in 129 years, the most consequential election. i don't know if they're right about that or not, but it sounds good. i wanted to see if i could get a couple of more years tacked on, but i figured the fight wasn't really worth it. 129 is a lot, and as of january 20th, 2025, the dark days of high taxes, crushing regulations, rampant inflation, flagrant corruption, government weaponization oh, i know about weaponization and total incompetence will be gone forever. they'll be gone forever. because the united

states is back and open for business. and the golden age of america has officially begun. you see it happening since my election, america's economic engines have come roaring back to life and just a very short period of time. think of it from november 5th, the progress that's been made has been amazing. the nasdaq is up nearly 10% in just a few months. and that's a lot. the dow jones industrial average is up 2200 points. and bitcoin is set multiple all time record highs. because everyone knows that i'm committed to making america the crypto capital. we want to stay. we want to stay at the forefront of everything. and one of them is crypto. and miami seems to be the center of the action, come to think of it. and maybe it will stay there. business optimism skyrocketed 42 points. think of that in a single month, the most in history by far.

that's the biggest increase in history. by not even close. the ism index of manufacturing activity surged into positive territory for the first time in many years. amazing. and it was just announced. this is an interesting one. i didn't realize it was that bad for so long, but it was just announced by one of the nation's most historically accurate and respected pollsters, rasmussen, that the number of americans who believe our country is on the right track now exceeds those who think it's heading in the wrong direction for the first time in 20 years. can you believe that? 20 years. and this is really a seismic 27 point swing from just before the election. that's nobody's ever seen anything like that one. yes, sir. i want to tell you, that's a big one. the best and most successful business leaders on earth are now racing to invest in the united states. since november, the mac has

announced plans to invest $40 billion in the us, creating at least 10,000 jobs. softbank has announced investments of between 100 and $200 billion, creating at least 100,000 american jobs. oracle and openai and softbank are now collectively committing 500 billion to keep the united states on the cutting edge of artificial intelligence and so many more. i mean, so many companies that want to come to the white house and have a little news conference all the time. i said, why don't you just announce it? but they want to come and i'll do that. i don't mind doing that. i say anytime they want to go, 10 billion or more, i'm there. 10 billion or more. but on his recent visit to the white house, the prime minister of japan announced he anticipates japanese investment in the united states of well over $1 trillion. and we're working on an alaska pipeline already, which is the closest point to asia. and as you know,

the nwr, which we've started, ronald reagan couldn't get it approved. nobody could get it approved for so many years. couldn't get it approved. i got it approved, actually, i got it approved twice. i got it approved, and biden ended it. that was a shocker. but we just got it approved again. and we're going to be it's probably the largest deposit, maybe anywhere in the world just by itself. it's, they say, of similar size to saudi arabia. so we hope that's correct. but all of this world changing results of the 2024 election. we won the house, we won the senate, the white house and the electoral college and the popular vote in a landslide. we also won all seven swing states and all 50 states shifted in the republican direction for the first time ever. so every state, every single state of the 50 states shifted. republican. it's never happened before. either way,

it's never happened. and 85% of counties voted for trump. think of that. so you have 2600 counties versus 525 2600. think of that. that's why when you look at the election map, after it was all done, the certified map, the whole thing was read 2600 versus 500. it's a big, big if nobody's seen anything like it, actually. so as a result of this very historic victory, investors from all over the planet once again have confidence in america's future and respect for america's leaders. and it's about time we get a little respect. the last administration was the worst and most incompetent in the history of our country, but we are moving quickly to fix every single disaster joe biden created and make america stronger and more prosperous than ever before. our first and

most urgent mission is to remove the criminals that biden allowed into our country with the ridiculous and very dangerous open borders policy they came from all over the world. they came from prisons and jails. they came from mental institutions and insane asylums. they were gang members. they were drug lords. they came from all over and they were allowed to come into our country. and we're getting them out in record levels, just like they came in in record levels. i want to thank tom homan and christie, who was just doing she's doing a fantastic job. governor of south dakota and tom homan, you know, and they are doing a fantastic job. and the results are incredible. and every country is

taking them back. they're sending their criminals to us and they're all taking them back. we had a little problem with a couple of them that ended very quickly. and because some said we don't really want ms. 13 back in our country, but i said congratulations, you're taking them back and they take them back. and by the way, europe and other places ought to start also doing that. they better start looking at immigration because it's really hurting europe very, very badly. and they better get smart and they better get tough before it's too late. we're also working to end the highest inflation in our country's history, all caused because they played with our energy policy and wasted money on the green new scam and other things such as that, and they wasted money that never seen before levels. if joe biden had simply held federal spending at the pre-pandemic levels we had in 2019, we right now we would have virtually no inflation. we're trying to balance the budget immediately, and because of the

tariff income, which is really it's already turned out to be amazing, actually. it's really meant more for bringing countries and companies into our country. but it's the numbers are rather staggering because we're the big piggybank that everybody wants to be. and they can play games and they can say, well, there'll be retribution and, you know, equal this and that, but they can't be equal. but we want to keep it so that we're the big piggybank. and if we had years like we did the last four years, that wouldn't have lasted too long, we're not promising it. but, you know, all of these things could happen. we hope to balance our budget. so i don't want to promise it, because if i do and we come about $10 short, the fake news media back there would say we have breaking news. he did not make it. he did not make it. but we'll get it done very soon. it might not be this year, but it could be this year. actually, we have a chance of getting it even

this year, which people would be shocked at because they were talking about ten years, 15 years, 20 years from now. when i took office last month, we inherited the consequences of inflation. that was more than four times what it was when i left four years ago. think of that. i left it was at 1.4%. and the annual government spending over $1.5 trillion more than projected in 2020 alone, 1.5 trillion. but under the trump administration, all of that is changing faster and more dramatically than anyone ever thought possible. they didn't think it was possible to do what we've done in just a very short period of time. we've accomplished more in four weeks than most administrations accomplish in four years. on my first day in office, i imposed an immediate federal hiring freeze, a federal regulation freeze, and a foreign aid freeze. and i signed an order creating the department of government efficiency and put a man named elon musk in charge.

thank you, elon, for doing it. >> thank you very much. >> and he's doing a great job. i wish you could have seen him last night. it's really you know, he's a very committed person. he's a very serious person and he's a very high iq people. you know i like high iq people. not all have to be. but you know, be nice to have some people up there that he's a seriously high iq individual now he's got his faults also, i will tell you that. but not too many of them, which is now really waging war on government waste, fraud and abuse, and they're curbing inflation and saving taxpayers billions and billions of dollars every single day. and there's even under consideration a new concept where we give 20% of the doge savings to american citizens, and 20% goes to paying down debt, because the numbers are incredible. elon, so many billions of dollars, billions, hundreds of billions. and we're thinking about giving 20% back

to the american citizens and 20% down to pay back debt and pay down debt, which is, if you look at value, if it were a real estate balance sheet, the debt is tiny, but we still don't. we still want to pay it down. doesn't matter. we don't look at it as a piece of real estate. it's america. we're going to get it down through intelligence, hard work. and as elon said, a word called caring. you have to have you have to care. by doing this, americans will tell us where there's waste. they'll be reporting it themselves. they participate in the process of saving money. so many of the men and women in this room as an example, they pay tremendous amounts of taxes. and here are just a few examples of where your money was going before i came along. these are just some of the just taken at random. oh, there are much worse examples than this. i was just looking at them before the speech, and i can tell you there were much worse. and there are some that are horrible, but i don't want

to really say them because they're very, very embarrassing to people. very, very embarrassing. and they're really something. but you'll be seeing it and you will be reading about it, but just some taken at random, $2 million for sex change operations in guatemala, $20 million for sesame street performances in iraq. 20 million. that's a lot of money. you know, i know what it costs to do those things. you get a cast over for a 50,000, give them a couple of bucks, tip, and that's it. not 20 million. 20 million that's gone with the wind on steroids. the $101 million for 29 diversity, equity and inclusion contracts at the department of education. wow. and we've also canceled we've canceled all of these, saved all of this money. and again, this is just a small sample. this

could go on. i could read them all day. $520 million for a consultant. i want to know who is that consultant. to do esg. that's environmental, social and governance investments in africa. $25 million to promote biodiversity conservation and licit livelihoods by developing socially responsible behavior in colombia. $40 million to improve the social and economic inclusion of sedentary migrants. nobody knows what that even means. none of this stuff. nobody. everyone is trying to figure out what the hell does it all mean? $42 million for social and behavior changes in uganda? 40 million. a lot of newspaper ads in uganda, $70 million for research of evidence based solutions for development challenges, $10 million for mozambique medical male

circumcision. what is that? what does that mean? $2.3 million for a strengthening independent voices in cambodia. $14 million for improving public procurement in serbia. $486 million to the consortium for elections and political process strengthening, including $22 million for inclusion. inclusive participatory political process in moldova and $21 million for voter turnout in india. what do we need to spend 21 million for voter turnout in india? well, $21 million, i guess they were trying to get somebody else elected. well, we ought to tell the indian government, because when we hear that russia spent about $2 in our country, it was a big deal, right? they took they took some internet ads for $2,000. this is a total

breakthrough. $21 million for india elections, $29 million to strengthen the political landscape in bangladesh, $20 million for fiscal federalism, and $19 million in addition to the $21 million for biodiversity conversion in nepal, $1.5 million for a vote of confidence in liberia. we need voter confidence, too. when you read this list, $14 million for social cohesion in mali, $2.5 million for inclusive democracies in south africa, $47 million for improving learning outcomes in asia. asia is doing very well. we don't need to give them money. and in another program, $50 million, plus another $50 million for condoms for hamas, you know about that $100 million for condoms. condoms. does everybody know

what a condom is for hamas? $100 million. and these are just some. i could read this list all day long. i just don't want to bore you. but these are just some and not nearly as bad as others. and some are just. i just don't want to say them because they're too. too incendiary. we're also finding tremendous abuse, waste, and fraud in social security. social security is what's happening. there is going to be one of the great potential scandals in history on the program. there are over 4.7 million social security numbers from people from 100 years old to 109. think of that now, over 100. there aren't a lot of people that make it. hopefully most of the people in this room will make it. but historically, you don't have thousands and thousands of people. but listen to this. 3.6 million people are on social

security rolls from the age of 110 years old to 119. do you think there are really that many? those people are seriously old, but it gets worse. 3.4 7 million, 3.47 million people are on social security from the age of 120 years old to 129 years old, 3.9 million people are on the age of social security from 130 years old to 139 years old. now, the all time record i heard is a woman who was 100. he was 127 years old. that's a record. a woman from a certain country where they have actually people that live pretty long, actually. and she was 127 years old.

that's pretty old. but we're topping her by millions, millions of people, 3.5 million people from the age one, 40 to 149 years old, 1.3 million people are on social security from the age 150 to 159, and over 130,000 people are on social security over the age of 160 years old, okay, including 1000 oh 39 people. think of it, over 1000 people between the ages of 220 to 229, and one person between the age of 240 years old to 249, and the record topper. there is one person on social security who's 360 years old, which is approximately 110 years older than our country. so

what we're trying to find out, and what we will find out is, are people being paid from all of these, you know, somebody pocketing 10,000 here, 10,000 there, what's going on? so we'll find that out pretty easily because we have a lot of computer geniuses. i said to elon, who are these people that are doing this? the doge people? i said, who are they? where do they come from? he said, well, number one, they love our country. number two, they're really genius at computers. so nobody's going to fool them. when they go in, they see some bureaucrat that's scamming the country and they try and talk about, you know, certain computer language. these people say, no, it doesn't work that way. these are people that are have a natural ability as, as, you know, brilliant computer people. it was very interesting when he told me that i said, that's what you need today. but all of these scams have now been termined