bitcoin. they feel empowered they want to help others. they want to give back and they feel a sense of purpose and i tweeted about this today stout s what this is about bigger than ourselves. hope is the most powerful motivating force, and bitcoin brings out the hope it brings out the best in us. so yeah money is great. but this is about building a better future for every generation. and that's worth more than any price target. charles: hey 20 seconds, trump administration has got a lot of thing they want to do. what's the first thing you would like to see them get through for bitcoin? >> u.s. strategic bitcoin reserve let's get ahead of the other countries and get bitcoin to a million. >> all right. let's do it. so not gen-z you look great hope i can say that he's days. i can after that election i can tell you. natalie you look great. thank you so much talk to you again soon. you know what else looks great and is amazing liz claman.

we need you to take us over the top rally is fading a little bit. >> pounding table on the rally charles we have to begin with oil and gold folks we are looking at a pretty wild drop in gold. take a look at this swan dive of 86 bucks to about $26.51 per ounce gold bottoming out at.26.46 on headlines hitting the tape that is cease-fire between israel and hezbollah the terror group operating out of lebanon could happen within 36 hours. then flip it over to crude oil crude oil dumping price per barrel now below $70 per barrel, in fact, it is just a penny above going below $69 at the moment down 3% in the aftermarket white house john kirby just said at a briefing we are close on lebanon cease-fire. so we're watching this very closely. and look at equities moving in the opposite direction we could

see the dow hit its 45th record close of the year at the end of this hour and some market watchers think stocks are getting their kick from president-elect donald trump's pick for treasury secretary. hedge fund manager scott bessent as a balancing force to policy promising including widespread tariffs which have unnerved wall street because they could potentially stoke inflation. is the federal reserve sold on bessent tariff stance can't miss interview with fox business chicago federal reserve president austin but yeah the bulls are back in equity world, and going from a trot to a kangter as we kick off the final hour of trade s&p is up 12 and nasdaq gaining 36 and russell once again power house here, u p nearly 2% or 47 points, and you know what look at dow with hand flapping waving over tech stocks, dow right now is on track for its 45th record of 2024. thanks to --

sneakers and paint. any gain at the close for the blue chips will do it. so this $384 pop on the heel of the jump gives dow a wide lead. ironically momentum friday and today coming coming coming fromd that lost its momentum last couple of years says worst may be over for the company cover stories called it uncool. nike pretty hot right now up 2.5% spiked more than 6% over past five sessions. and nike getting assist from sherwin williams paint company flying to and a all time high right now. remember, sherwin williams is a dow knew bee both joined the club with '24 up gaining 4% over just past two sessions speaking of nvidia bottom of the dow we've got it down 3.7% and a.i.

chip leader stock by the way tripled in value the past year there's that. it is continuing the retreat it began after posting earnings last wednesday night. lost about % since then earnings were great, but expectations were shall we say greater. conversely look at how data server company and nvidia company supermicro performed since wednesday shares popping 31% to the top of the s&p. after nvidia jenson wang gave smci a shoutout during earnings call for the a moment a shoutout to industrials chief global strategist for the americaings gabriela santos and alley mckearney it is so interesting you have the scott best engt treasure treasury news that brought yielding down. you've got stocks moving higher but then you've got the global

story with hezbollah and israel possibly striking the deal. what does this tell you about how headline driven the marks are? >> it seems after the election results we moved from election uncertainty into a period of some policy uncertainty. and i think today, the markets are cheering removing some of that policy uncertainty we now have the name of treasury secretary. and someone who seen as by wall street as someone that's more predictable so we can more clearly understand the contours of trade policy, fiscal policy, as well as regulation policy. a little bit more today than we could on friday, and that we could maybe two weeks ago. so i think it's risk on for the markets and one of the things for us that's given us more conviction after the election is this continuation of a broader rally. that really started mid-july and then just got turbo charged after we got the election result. that's where you're seeing earnings broadening low

expectations low positions that can what we think has room to run next year. liz: this clarity on certain things whether it is hezbollah and we should stress no cease-fire yet but rumor is heavy apparently you've got the israeli leadership planning to meet in just a few hours when it turns to be tuesday in israel. so let's just hope there is some clarity on that but that said we look at a market that appears to have nowhere to go but up. and doesn't that sometimes mean that the very direction it goes might be down? >> look, you could have been contrary to the entire last five years that the first half of the decade at this point wrong by 102% and could have done that for the last two month and wrong by 30% and could have done that year to date wrong by about 25% so the question is -- what is driving the market what's supporting and what are the risks? the bi which was taken out today -- that's what the market participants are saying with the

treasury secretary is with the relationship between spending, between tariffs, between gdp between growth and inflation that seems to be as gabriel la said alleviated the second risk is g.o. political that's driving markets today too. so you know, as far as i'm concerned, you have sort of three legislation of a stool that drive things in this world so mico earnings on 8% next year. you have global growth and, you know, more u.s. focused and gdp that's working well an you have interest rates going the other way which is, you know, a multiples boom for stocks. so we remain buyers and certain areas, and i'm fully invested. liz: what areas specifically? >> there's some that are secular themes there are some that are republican regime themes and some all come together. a.i. certainly in the powering behind it electrify kaition of

the world financials are up about 9.5% we think there's more to go in that story. both from a rate perspective and from a republican win perspective. and the third is again, is powers and utilities, right? the data center use that's currently at about 4% of electricity in the u.s. going to 9. the amount of money that is being put in to changing the power and infrastructure story and again, layer on that political tail winds with, you know, the drill baby drill we've got the u.s. coming back to self-preserve and self-focus power. >> gabriela, i love exactly the scenario that alley a the markets actually are -- are really laying the here the dow up 392 points on the back of a more than 400 point gain on friday so this all looks really good and people who have been against it have been wrong, wrong, and by the way wrong. but how do you put some protection into the portfolio just incase?

>> yeah. i think that's always a wise thing to do you take out insurance when you don't need it and you'll be happy you have it when you do need it so we share a positive view for equities new all time highs in to next year. but we want to have i think these days selection of different things that can diversify different types of risks so picked income, even though we see tenure yieldings dropping 15 bases points today we don't think this is the end by post inauguration with -- trade, but also what happens with taxes so we do think we still see volatility there. so bonds can help with the recession concern when that comes up again. but maybe it doesn't help diversify other risks during the year and that's why enthough we're seeing a bit of a selloff in gold today we think gold has a role to play there. gliz so this is a buy. >> interesting piece of that diversification. that's right. you have structural tail winds of especially emerging markets central banks, buying gold to

diversify treasury holdings and dollar risk. and then you also see gold do well when there's a little bit more of that g.o. political uncertainty and feel comfortable taking risk elsewhere. liz: how closely ely are you watching the economic calendar? we have a bunch of data coming out not the least with austin but pce personal consumption expendture number that federal reserve zeros in on it is a holiday shortened week anything could happen. cent? >> yeah. so part of i think what's driving today actually is related to that calendar is some preholiday shopping numbers came out. and somehow like the little engine that could we keep on going right those numbers are anticipated to be up for the season. in addition they're anticipated to be largely sort of pulled forward into this weekend. you also do have t and in particular i think we have to watch services and housing inflation, goods has come down quite nicely services is what's been very sticky and

we were just talking about being both of us in soho how we see people shopping going through hotel and restaurants that doesn't feel like it is abating but i think that's one of the things that's happening and you know, feeding into this market. is it seems like although we're still in the position where we see so 125 basis of cuts in the next 13 months markets seem to be largely due to tariff narrative cutting that down, and so we're also about to have a -- interesting point where sort of multistratton macromanagers can come in because different expectations between different players in the global world are meaningfully different and give us an opportunity. >> i hope you both had a lovely thanksgiving yes i was one of the people pressing go to cart -- this weekend yeah. the cult jean jacket on gap for daughter don't tell her -- >> hopefully she's not watching. liz: right you're she never watches. mom you bore me.

gabriela ely great to have you both so much. bath and body workings at the top of the s&p 500 we'll tell you what is working for the company's body of investors, and defying box office gravity this weekend was the one-two punch of imax ceo here to talk about this weekend's box office success for both "gladiator" 2 and wicked the film based on the hit broadway musical guess one which did better on the imax screen both visually glittery but claman count down is coming right back. ♪ ♪

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tomorrow. macy's revealed that an employee had hidden up to 154 in corporate spanning years and company will provide details on its investigation when it delivers third quarter report that has been delayed until december 11th. robinhood hitting three year high on the session, gaining 2% after morgan stanley upgraded retail trading platform to overweight to equal weight it is among biggest beneficiaries because deregulation could enable it to participate more aggressively in crypto brokerage upped price target for robinhood to 54 to 24. stock right now is at 37.45. bath and body works bubbles up having its best day in two years gaining 18 and a half% after reporting top and bottom line beat, and raising its full year

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americans preparing for their thanksgiving feast are still seeing high prices in grocery store aisles but does the high cost of food reflect the true strength of the economy? chicago fed president austin goolsbee here on fox business to answer that question first and where he sees feds rates heading the rest of this year and beyond and high rates causing sticker shock on the car lot. we're heading you out to pennsylvania and a ford dealership there to find out why now may be the best window of time in a long time to get a new set of wheels. jeff flock is there he's gobbing tell you why the claman count down coming right back. after careful review of medical guidance

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liz: fox business alert bond traders and investors friday it closed above 4.4%. right now it is at 4.2 % down nearly 13 bases points on the session. market watchers are crediting in part president-elect donald trump's election of hedge fund executive scott best engt to head the treasure if i department for the pronounced drop. yield dip could be a dip that bessent might dilute stated policies namely tariffs. that many economists fear will be inflationary. bessent urged a gradual approach to the implementation of tariffs

but starting chicago reserve president austin goolsbee thanks so much for being here. >> thanks for having me back great to be here. >> what camp are you in with the bessent nomination sigh of relief or hold up we don't know yet? >> as you know you become a member of the federal reserve you're out of fiscal policy business so i'm merely observer. [laughter] liz: you're observer. but you're observing ten year yields -- cratering basically, i mean, if you look at how many basis points it has dipped over the past week and a half and certainly since the announcement of a more potentially moderate treasury secretary when it comes to tariffs, it is pretty interesting, isn't it? and yield have been climbing even after the federal reserve in september dropped rates by half a basis, half a percent. >> on the short rates. look, if you take a step back,

and you compare yields now to what they were in the spring, so you take it kind of a longer view, there hasn't been as much movement as there have been a lot of volatility in the short run. for the group that thinks that was mainly driven by changes in expected inflation, my only observation is we have market measures and estimates of what expected inflation is going to be and you haven't seen movements nearly as pronounced in inflation. so that's -- probably not the main reason. i think part of the long rates, of course, are they embody a path of what they think thed is going to do overtime so as the markets starts changing how fast or how slowly they think the fed is going to be cutting rates. that's going to affect what the level of these -- of these longer treasuries are beginning to be, so i wonder if there's a little bit of a

reflection problem partly in that too. liz: well, is there a question do you think about what happens in december? we have the final meeting for the federal reserve in just a couple of weeks. if you were a voter, what is the important message you would sending to the markets when voting for another rate cut? >> well, look, you know i don't like tieing our hands ahead of time before we get all of the data that we're going to have, and before i've heard what the other members of the fomc what they have to say and where their opinions are. that said, i think the longer throughline over the last year has been inflation is coming down. unemployment and the job market has cooled. to a level that is -- that looks pretty sustainable. that's about what full employment is. and that's why as i look at the dot plot and what all of the members of the fomc say they expect for rates, over a year

you know by the end of '25, i think rates go if conditions continue like they have been continuing, rates go lower than they are today. and whether that takes place in december, takes place in january, how fast that happens, will be determined by the outlook and the conditions. but the throughline to me is pretty -- clear that we're on a path and that path is going to lead to lower rates closer to what you might call neutral. >> is that the right move? because we're getting a bunch of data in the next couple of weeks. but if we look at the data that we have gotten, for example, we're waiting on october pce that's the personal consumption expendture the feds preferred inflation gauge particularly the core. the expectation month over month on the headline is like a gain of two tenths of a percent that's pretty calm year over year up 2.3%. core, though, up three tenths of

a percent year over year up 2.8%. i mean september was hotter than expected on just about every metric. are you concerned that if you continue to cut rates like this, that inflation could actually rear its head? >> look, everything is always on the table. and if the economy is looks like it is overheating then fed has to deal with that. now, i've been a little skeptical that this is what an overheating economy looks like. and i just caution everybody on inflation. that's a noisy series it is up, it's down. we take longer averages for a reason. because we don't want to overconclude anything from one months data. i think the broad throughline has been the newer month was inflation coming in oftentimes below what was expected. but not that far above the 2%

target and thus far borrowing some change. i feel that that's the -- that's the path to 2%. so conditions and outlook willed a just the speed at which we do this. but borrowing some sign of actual overheating of the economy, i still feel comfortable saying that if you look at the broad dot plot, rates have a fair way to go down before they will get to something like neutral. and if you've got inflation coming toward 2% target and you've got unemployment rising but getting to something like sustainable full employment, you better be careful and adding cold water to the bathtub if you have the temperature about where you want it. liz: i get that. but if we're looking at rates right now they're at 4.5% to three quarters feds fund rate where's neutral?

how much lower do you need to see it go before you're comfortable? >> i mean, you only know neutral by -- as the chair said, you know, by its works in the economy. and you know there are some lags monetary policy so you can't just do that on a monthly basis hey we have one month numbers so we know. i think that if you look at the dot plot, there's a range of estimates let's call it projections. >> but where are you? >> i'm closer to the median on those. whether you're on the higher side or the lower side of where it is going to settle down, almost everyone agrees that it is well below where we are today. so as we get closer to where the disagreement is about what's the settling point i can see that it makes perfect sense to start slowing the pace of the rate cuts. but i don't really see borrowing

some convincing evidence of overheating. i don't see the case for not continuing to decline, but to have the fed funds rate decline because everybody agrees it is well below where we are today. so until we start getting into the range of where people think is the settling, i still feel like this -- this trajectory is that's a way it is leading us. liz: that's news pl weapon below where it is today and i say that because to hear it from you directly we are waiting just to see what -- inflation looks like come the october pce, and we're going report that right here it is going to be a big deal for the markets i'm sure no matter how it comes in. austin great to see you. >> yeah great to see you. liz: happy thanksgiving one of the priciest items during the post pandemic smashup cars you could even get your handle on them. how about now. well it is no longer dealers

choice when it comes to buying new car. cox automotive data from october shows new vehicles are sitting on a car lot for average of 85 days that's 14% higher compared to the same time last year. so we said get jeff flock to a ford dealership in pennsylvania he's got to look at what car dealers are say and different ways i guess jeff they're rying to get rid of excess inventory? >> better cool come up with some way they are stacking up look at this. i'm surrounded by f-150s here this is the best selling truck best selling vehicle of any kind. but there's still stacking up i think you need to trade in the tesla for a electric f-150 as joe used to sigh that's a pickup truck with 8 foot bed that don't have to be made. here's what they're trying to entice you to buy one of those ford lightning f-150 pickups look at this. this is financing of 1.9% for 72

months you want to bite hybrid version that's 3.9% for 16 month lrs the discounts are coming in. right now there are 127,000 unsold ford f-150 pickup that's 131 day of supply as you know liz you want about 60 days of supply that's a sweet spot. well, not only is the ford f-150 backed up lincoln all of its vehicles 168 days of supply. volvo 134. ram, dodge, all double what it really should be in terms of inventory. now on the other hand, you've got some tight inventories like lexus and toyota just 35 days of supply. bmw and honda in the sailboat and so what does this all mean for you and your ability to get a deal we tacked to shawn tucker senior editor of the kelley blue book here's his advice. >> is about 133 and lexus and

toyota are both at 35. so if you go to a ram dealership they are absolutely looking to negotiate they have too many cars. if you go into a toyota or lexus charge close to sticker price they don't have enough. >> so some people think liz they're going to be even bigger deals when it comes to december you know at the end of the year everybody tries to push their stock out the door. a lot of look at all of this. it is crazy. f-150 still the best selling vehicle in america. but not selling as fast as they would like. >> you know i got rid of my tesla. i got rid -- >> i didn't know that. >> for a bmw ev which was less in the least than the tesla model s. >> i think you should get a truck i think that's what you should get. liz: i've had many of those big jeeps all of them i love them. but i've got to tell you lucid

up 3% and evidence people are trading in their teslas for lucids so kind of interesting. more choice. >> it is like love relationships you know you have one relationship it is really good but then some other new -- new model comes down the line and -- by god you make a switch. liz: competition arrived great to see you jeff thank you very much from the great white way to the yellow brick road wicked takes tinsel town by storm and smashes records for film to debuts and here to play all sees oz and it will us if the prequel about the witches has box office stain power because kids are coming back from college for the holiday and he may not be oz but nvidia founder ceo is a visionary of other sorts. the god father of artificial intelligence is my exclusive guest on this week effort talks to liz podcast here what jenson wang has to say about the

massive demanding for his chips -- how he plans to fell all of the orders and if he thinks a.i. will steal your job. what we did was we fashioned this into everyone talks to liz podcast so what you're driving to grandmother's house over the hills we go whatever it is -- you can listen on google apple spotify i-heart radio wherever you get your podcasts. dow holding on to 404 points right now oh it is over the river and through the woods. ♪ ♪ what do you want from me? i was watching gumby when i was a kid we're coming right back. don't go away.

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movie, wicked didn't just make the most money it made way more than the rest of the top five combined. so wicked part one because there's another part coming made 114 million dollars domestically the second highest open for a broadway movie adaptation was into the wooding and that's already down to 31 million followed by mama mia hair spray i thought was fabulous 25.5 million and ranting out top five "les mis" 27.3 million and helped fuel a runup in movie and theater technology stocks amc right now is jumping about 5 and a third percent seeing a markup 2 and a third percent imax saw a lot of action from interestingly enough the gl in gladiators and wicked showing us on a fox business exclues of to see if wicked can define gravity at the

box office is imax ceo is rich. well rich this is interesting isn't it to see the success of wicked when you move a broadway show to theaters on big screen, sometime it is doesn't work. this is really working. >> it is working on a lot of levels. liz, first of all, comcast did an amazing job. universal and marketing right they created this global event, and the fans are responding to it. even in country where is they didn't see the play. and they didn't know much about it and then they made two at the same time as you started to say they have one coming out this year. and one coming out in '25 huge budget behind it. people take those swings, and they don't always work this time it really worked for them a global phenomenon. >> and kids are coming back from college people are arriving back home and wake up after thanks giving andment to do something or go see a movie. do you think that this number and by the way, globally it was

more like $165 million. do you think that those numbers start to pile up like water from a tsunami? >> maybe not water from a tsunami but i do think what's going on it is not just really wicked it is the beginning of wicked, gladiator and mona 2 opens this weekend and any one of the movies could have anchors big weekend and in this case you have three of them. all releasing around at the same time. and one way we think of it imax you know program one moiflt at a time. so we'll program 'oppenheimer' and not barbie fortunately the way it came out this year, we could program all three of the movies. so we opened gladiator internationally opened a week earlier. then this weekend we wicked and gladiator and now moana opens wednesday and sharing all three something we never could have done before. so this enables kind of this cumulative effect rather than having to pick which is the

winner how many weeks does it run and how many shows can you get in and how many people can you put through the door. >> domestically internationally rather gladiator there's huge overseas interest in that movie correct it almost feels like more twoangd imax to see gladiator than to see wicked. is that just sort of the feel that you want to see the big roman coliseum fights? on a big screen like that? >> you're definitely on to something and that's that -- they're complimentary that's a big thing that's making all of this work because for men who want to see, you know, big guys clubbing each other's heads -- liz: i want to see that forget men. i want to see that. >> there's something for them who people want to see their favorite broadway show in a new way. there's something for them and moana more of a family audience and numbers being talked about for that movie opening for thanksgiving a consistent with what happened this past weekend.

so you have three of these huge movies at the same time and the way you deal with it is different programming so this weekend we had wicked at the matinees in the afternoon. we had gladiator at night this coming weekend moana during the day when the kids want to come. with their families so this is not just existence of the movies but they all fit with each other if they were competitive they would -- you know, numbers would cannibalize each other instead of add to each other. liz: that's an interesting point because there was that concern. you have the exclusivity deal with 'oppenheimer' and barbie only came later. so now you're figuring out a way to be able to sort of flit the difference pep we've got mufasa how big is that possibly going to be? >> a very big film. as you know it is a prequel to the lion king. and the last lion king did over a billion dollars.

so again, i predicting movies is like predicting stocks it is not a good idea. but i think it is going to be a really big holiday movie and again what works best at the holidays family movie and family movies known into actual property. that are in imax biggest way to see them so the end of this year is shaped out really well. and it is a great onramp for 2025 and 2025 looks amazing we have 14 movies that were made with imax cameras. for imax there's included a new mission impossible an avatar next year, there's formula one which is joe kaczynski with top gun and superman and marvel and something in it for everyone next year. >> canceling plans for every night i need to see all of the movies. rich happy thanksgiving thank you so much for being here.

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liz: fox business alert. scott bessent, yes, friday, late friday, was announced as president trump's nominee for treasury secretary, but the knock-down throw-down fight here behind the scenes has been revealed. trump's commerce secretary selection howard lutnik was not only at the enter of the drama but basically the heart, the aorta, the lungs, all of it charlie? charlie: listen, i want to point this out. i don't know mr. bessent. i know how and lutnik and i actually like him a lot. he's a tough guy, estreat fighter, a new yorker. he came from nothing to become a

very rich and successful man. buried his parents when he was younger. i think before he was 20. liz: lost a huge number of friends and family. charlie: lost his brother in 9/11. the firm almost was eliminated and he brought it back. so when i write something that's a little bit negative about howard, i don't, it's not like a relish i that as it may whatever he did in the last couple weeks, in the sort of run-up to bessent's selection as treasury secretary, has angered a lot of people within trump's inner circle. people in that inner circle tell fox business so i'm getting this not from trump haters, not getting this from democrats on the hill. it's from the lincoln project, but some people inside the trump camp, and it was like overboard on scott bessent. we should point out we were first to report it. my producer got the tip that lutnik was making a last minute

sort of push to become treasury secretary. we reported it i think on the day of the 13th, november 13, and he was looking to get rid of bessent and basically saying, you know, telling the negative stuff on bessent that he worked for soros, his fund wasn't doing so great when he wasn't working for soros, you name it. it was a harsh push when bessent all but had the job locked up. he was doing this , pushing himself as treasury secretary, as he was head of the transition team. i mean, a little bit of a conflict of interest you might say. i do know in that push, he did anger a lot of people in that inner circle and that's one of the reasons why from what i understand, we've asked him for a comment. he has no comment and i wrote a whole piece about this on fox business which you can go read about. it's in full detail. he hasn't commented on that. by the way i gave them my story before i wrote it.

both sides. both sides did not deny what i reported. liz: it's on foxbusiness.com. charlie: correct. i had firsthand sources i went to bessent's people and to lutnik's people and said here is the rough draft of the piece and they both refused to deny anything. it's pretty solid. liz: maybe they just didn't want to talk to you. charlie: that could be it, but howard has talked to me, by the way howard could have called me. he knows me, so my point is that then when he didn't get the treasury secretary job, got a constellation prize as commerce secretary and then he went further to work on bessent where he opened up the process to other people, he got rfk jr. , however you say his name, elon musk went second to support him and bessent still

got the job. it is, from what i understand, not a good situation for him inside that white house right now, from what i understand. liz: charlie thank you very much. president biden carrying out the annual white house tradition of pardoning two lucky turkeys, sparing the lives of peach and blossom today. our countdown closer has two sector picks. he loves those , but he's calling another one a turkey. metlife chief market strategist drew mattis is joining me. let's get to what you like. financials and tech how come? >> it's the s the shame of thed curve and how companies play the economy going forward which is investing in productivity, making sure they maintain their margins, which will enable them to grow, and enable the economy to grow. liz: okay, you know, people could get baskets of these, xlk, has a bunch of the top technology names. it's the one you don't like which is consumer discretionary. we're coming up on the holiday. do you not see people breaking

the bank just to, you know, scoop up all kinds of holiday gifts and things like that? the consumers remain strong. >> well i think inflation has done its damage, and when that exactly will show, we don't know, but what we do see that people are increasingly stressed. we're seeing higher delinquency and default rates on credit cards and i think right now it's concentrated among lower income workers but i believe as time goes on, the continued sticky inflation will mean that that will process will migrate further up into the income chain. liz: drew mattis, great to have you. >> [closing bell ringing] liz: the dow hits its 45th record of 2024. markets in the green on this monday. who knows what tuesday will bring for your money and your portfolio. we'll be here see you then. larry: hello, folks. welcome to a special edition of

kudlow i'm david asman in for larry kudlow. president trump is quickly filling up