years and the mag-1 if we had to pick one and its had several consecutive quarters of triple digit growth but the question is how much can it continue to defy gravity so i'm looking at intel which is relatively cheap based on book value and it could benefit from a homegrown chip push and there's also been some take over speculation. >> that's an interesting pick, the intel fabs are cropping up in ohio corn fields. thanks guys. to read more check out this weeks edition at barrons.com. follow us on x, on facebook and instagram for the latest updates. enjoy the football, family and leftovers and that's all for us we'll see you next week on barrons roundtable. wonderful holiday season, from us here at fox business.

maria: and happy thanksgiving weekend to all. thank you for joining us welcome to the program that analyzes the webbithe week that was. in maria bartiromo. president-elect donald trump sending a clear message to china, mexico, and canada. stop the drugs and illegal migration now, or face new tariffs next year. the threat already sparking response from our trade partners, a spokesman for china's embassy in washington saying, "no one will win a trade war." canada's prime minister just in truman dough calling up trump and vowing to work with him while mexico's president is agreeing to take action against migrant caravans but she's also threatening her own tariffs. meanwhile texas governor greg abbott and incoming border czar tom homan sent a warning to us cities who might stand in the way of border security. >> don't cross that line. it is a felony to knowingly

harbor from immigration authorities, don't test us. the nation wants a safe country. we're not waiting until january. we're already talking and planning and we'll put a plan in place and secure this nation at the highest level its ever seen. maria: this as we saw more shocking video of unaccompanied migrant children, some as young as two years old, arriving at our southern border, completely alone. here to react is louisiana senator bill cassidy. he's the top republican on the senate health education labor and pensions committees that released a scathing report accusing the biden-harris administration of failing to secure the border leading to the exploitation of migrant children. senator, thank you so much for joining us. what can you do about this? do you believe that trump's warnings will move the needle? >> absolutely, i think they will move the needle. just to speak a little bit about the report. we all know the biden-harris administration 10 million people crossed the border illegally. they got overwhelmed with the number of unaccompanied minors. now the fact that a two-year-old

is unaccompanied is not true. but still, somehow it comes across as unaccompanied and they just at some point were overwhelmed they began to process people without vetting the sponsors they were releasing the child to. some of the children were exploited. either in hazardous working conditions or sexually exploited. some of the contractors hired people who abuse the children while under their care. unfortunately, neither the people abusing nor the contractors were fired or lost a contract. i expect all that to change under the trump administration. it should change. every piece of that, controlling the border as well as how the children are handled once they are in our custody. maria: i mean it's so disturbing to see two-year-old and we don't know who she's with and what she's doing. is it fair to say that it's likely that the drug cartels put her in place to cross the border the border? somebodi' pseudomosomebody's wa?

is it the drug cartels? >> clearly the drug cartels are involved with human trafficking. when i went down to the border, the border patrol said a lot of people over here and attract our agents to go get the folks crossing the border and then use that moment to run drugs further up or further down the river, and so they are coordinating the trafficking of people with the trafficking of drugs and making money from both so to go after the illegal immigration is to go after the drug cartels in another manner and that's something we have to do. maria: let me ask you about trump's other policies and of course he's readying plans to what he calls drill baby drill with his team putting out a proposal to boost lng exports, reverse biden era restrictions and revive the keystone xl pipeline. this is certainly impacting your state as well. how do you see this playing out, senator? >> i think it's a great idea. we should have a policy of abundance where we take the abundance of america's natural resources, of our

economy, the productivity of our workers, and we create a better life for all. now, using our natural gas and our oil resources is part of that, and by the way, when we use american oil and american natural gas, we produce that in the most environmentally clean way than anybody around the world. if you take oil coming from off the coast of louisiana, coming to our shore for refining, it has the lowest carbon intensity of any product that comes to our shore, and so i agree with the president. it's going to create a lot of good american jobs. it's going to boost our economy. boost our national security and boost the national security of our allies. i think he hits a home run on that one. maria: what's your take on the tax cuts and extending the tax cuts? is that going to happen through reconciliation and do you expect that to be a 2025 priority? >> i do. i think that the fact that we can use america's natural

resources in its abundance to help offset is good. we've got a debt and deficit problem and if we just do nothing that's going to be in the trillions and trillions of dollars. we don't want that so let's use some of our trade policy to offset. we do that we get the tax cuts but we also get the abundance. maria: well how worried are you about the impact of tariffs, president trump is already, you know, sending messages to china, mexico, and canada. do you believe that these tariffs will help growth or do you expect we could have an issue with regard to inflation? making prices higher for americans. >> well one thing i've been proposing is what i call a farm pollution fee and some of the administration have similarly advocated for it. right now in china, does not enforce its environmental laws. they let their pollutants go into the atmosphere where it blows over to the united states.

it lowers their cost of manufacturing by 20%. that lower cost attracts our jobs and manufactures to go to china, that's wrong so i think we should put a fee on their goods roughly equal to what they're not spending to control their pollutants. so, what they're not spending put that fee levels the playing field, makes it more likely jobs come back to the united states. our workers do better. our economy does better. maria: okay. >> it's a tariff but we're already paying for this. we're paying for all of the pollution control that we have to put in place because of their pollution. maria: yeah. okay, well we'll be watching that then. meanwhile a new poll shows that nearly 60% of americans approve of president trump's handling of the transition. he is stacking his cabinet in record speed. what are you hearing in terms of the upcoming confirmations? will the senate move forward with trump's nominees? >> i think most of them will, if not all of them. obviously, i've not seen any

reports on anybody, but i anticipate that they will, the president will have his way with, you know, most if not all but you want to get the reports. the american people expect the senate to do their due diligence and so that will give greater faith in who these people are, but marco rubio, not going to have a problem. great, great, impecable sort of credentials so i expect to see more of that. maria: what about the others? pete hegseth, tulsi gabbard? >> you know, those aren't before my committee so i haven't paid attention to them as much, so defense committee and intel will have something to weigh in. i just haven't paid attention to those. those are not before me right now. i think you just got to congratulate the folks. they had actually contacted the committee that i'll be the chair of, like a month before the election, getting ready for the transition, so

they knew what they were doing, they are getting their picks in place. they will hit the ground running. we will have hearings possibly on some of these nominees before he's inaugurated, and so hopefully, his government is in place, his assistants are in place as soon as possible. let's just start making america great again. maria: do you expect the hearings to start when you all come back in january, is it january 6? >> i don't know if it's that quick. there will be some amortization all-time, but i can see the hearings beginning before he's actually inaugurated. maria: so you think he will have a team in place to hit the ground running january 20? >> maybe not january 20, but i hopefully by february 14. congress never works quite that fast. maria: right senator great to have you thank you so much for being here. >> thank you, maria. maria: happy thanksgiving weekend to you. we've got a big week of economic data plus the markets weighing

un new proposed executive action from president trump. john lonski is here to break down the latest data and on what's ahead under a new trump

maria: welcome back. now look at where markets ended a holiday shortened week, following pce and gdp numbers all inned it sees ending the month of november with gains, as investors weigh what a trump 2.0 means for the economy, heading into 2025. all of this as trump is rounding out his economic team tapping trade lawyer jameson greer, nominating long time advisor kevin hassett to lead the national economic council. joining me now with a look at the team and what's ahead is the lonski group president john lonski. john, great to see you. thank you so much for being here. so we've got a pretty good rally underway year-to-date. we've got optimism going into the new year. how would you assess the trump

team and the macrostory, the backdrop, to all of this right now? >> well the trump team is a big improvement over the biden team, and as a result, consumers and businesses are more optimistic going into 2025. the only problem might be is that the economy grows so rapidly over the next several months that it brings about a revival of inflation fears but i'm crossing my fingers right now that that won't happen in part perhaps because we are going to see an increase in the production of crude oil, fossil fuels, and that will help to reign in possible price increases elsewhere. maria: yeah, and that certainly was what president trump has been talking about, if he taps into the energy capacity of america, he takes oil prices down and perhaps impacts inflation overall, but president trump is threatening to hit our largest trading partners with new tariffs on day one. his first day in office, goldman sachs is estimating the tariff

increase would boost inflation nearly 1% as a recent harris poll shows that two-thirds of americans are worried that tariffs could hit them, right in their wallets causing higher prices on everyday goods. how are you seeing tariff situation right now, john? >> okay, i'm not as pessimistic as goldman sachs. i could see tariffs increasing price inflation by between half a percentage point and three-quarters of a percentage point. still that implies that prices will be higher than otherwise, because of tariffs. you know, one thing i want to add is the markets don't appear to be especially worried about tariffs. my goodness. we have the 10-year treasury yield that has actually been declining at last look and was down to about 4.25%. that happens to mean mortgage yields will be a little bit lower and moreover, the implied probability of a fed rate cut on december 18 has risen from 55% up to 66%, so what the markets

are telling me is that the imposition of tariffs will not be a disaster for the united states economy and let's not forget why trump is increasing these tariffs. that is to help bring about a halt to illegal immigration as well as stop this inflow of fentanyl. maria: i agree. these worries over tariffs are probably a lot of nothing given that president trump talked about using leverage to help him elsewhere. in fact even his most recent tariff conversation was because of the southern border. they are saying, he's saying look, help us with the illegal migrants coming in. the fentanyl coming in or yes, you will pay. >> i say why not go ahead and use tariffs as a policy tool? why not use it as a negotiating chip? there's no reason we should not employ this after all. there's no consumer spending market in the world as large

as that of the united states, so it heeds these exporters to do thins that will help improve the quality of life in the united states. maria: john let me get your take on the markets and investing in 2025. we're going into the new year with major gains in tech stocks. nvidia is know a dow component, and the nasdaq is up 25 plus percent for this year. do you think this has legs into 2025? how would you allocate capital in the new year? big tech or broaden it out? >> i would broaden it out and look to diversify and i would look at, perhaps, some financially-strong companies that are providing you with dividend yields in excess of 3%. those are retract ever candidates and of course some are wandering into smaller company stocks. we find that the russel 2000 has outrun the overall market since election day, perhaps we'll see more of that, but again,

tech is so rich are valued there is indeed more of a downside risk because of high-value, more room for disappointment and of course when you have very high price to earnings ratios those stocks are more susceptible to any surprise increase by interest rates. maria: yeah, and a lot of this has to do with optimism over the incoming policies. investors are counting on deregulation, they are counting on the extension of the trump tax cuts but they're also looking ahead to potentially new areas of investment like crypto. president trump has said that he wants potentially a white house role that will oversee crypto and digital assets. i know that congress is also working on what they are calling a revolution to come in digital assets. john, what do you make of this move in bitcoin and would you allocate money to digital assets today? how is that going to play out? >> well, i'll tell you.

it's just one of the surprising stories, the latter part of this year, we have bitcoin approaching $100,000. that was unthinkable about a year ago. you have to recognize it. bitcoin is really not a type of currency yet, because it's so volatile in terms of price. bitcoin remains a speculative asset. if you want to go ahead and have some expo sure to bitcoin go ahead and do so, but don't bet the house on it. that is keep a relatively small percentage of your portfolio in bitcoin and no more. maria: okay, and what about the fed, john? in december we'll see the next fed meeting. there is a good chance that we see another rate cut, although the most recent commentary from jay powell was they aren't in any rush so what should we expect from the federal reserve and potential rate cuts to come? >> i'm going to go along with market sentiment. that is we do get a rate cut in december, fed funds goes down to

4.38%, but we may not have a rate cut during the first quarter of next year, as the fed takes a more cautious, wait and see stance. the fed wants to see whether or not the labor market does not overheat once again puts upward pressure on wages and that in turn would force prices higher, so yeah, you'll see one more rate cut at least for the time being, but if it turns out that trump's economic program sets off an economic boom in 2025, 4.38% could be the bottom for this current series of fed rate cuts. maria: it's a great point because why would the fed be cutting when in fact the economy is booming? we'll see if that is a good problem to have. john great to see you thank you so much. have a great rest of your thanksgiving weekend. >> thank you, maria happy thanksgiving. maria: and to you, john lonski. the post-thanksgiving retail rush has arrived with the biggest shopping weekend of

the year. we're taking a lack at how consumers are grappling with higher prices and tighter budgets that's next. progressive makes it easy to see if you can save money with a commercial auto quote online so you can get back to your monster to-do list. super helpful. see if you can save money at progressivecommercial.com. thank you.

maria: welcome back. well, the holiday shopping season is now in full swing. kicking off with black friday deals ahead of cyber monday next week. the national retail federation is reporting that sales are expected to grow bias much as 3.5% year-over-year. with total spending from now until the new yearing $980 billion. jeff flock is live in the middle of all of these shopping action with the very latest. jeff tell us what's happening now? reporter: maria i'm at the historic cherry hill mall in new jersey. this was the first indoor

climate controlled mall built east of the mississippi back in 1961. i was at this mall last year and i gotta tell you. i think there's more traffic this year than there was last year, and the forecast numbers would maybe bear that out. take a look from the national retail federation as much as 979 billion with a b dollars expected to be spent this christmas holiday that's almost a trillion. busiest day be on friday, 131 million shoppers expected, 64 million on saturday and 37 million on sunday. and if you think brick-and-mortar is dead, well, not so fast. 65% of the people shopping on friday say they are shopping brick-and-mortar and we talked to a couple of them. >> today i'm buying a lot of stuff for my family but right now i bought myself something just because when it's a sale i feel like i'm wasting money if i don't buy it. >> i got a northeast jacket, you know, had to get the jacket, but i'm not going to lie.

there was no deal on this. i paid full price. reporter: maria i can definitely relate to those two shoppers. i generally go shopping for somebody else and wind up buying something for myself and yeah, i generally do pay full price. thankfully most people don't. back to you. maria: all right, thank you so much, jeff flock. i've got one important thing you need to know about ahead of next week, that's next. (♪) car, this isn't the way home. that's right james, it isn't. car, where are we going? we're here. (♪) surprise!!! the future isn't scary. not investing in it is. car, were you in on this? nothing gets by you james. nasdaq-100 innovators. one etf. before investing, carefully read and consider fund investment objectives, risks, charges, expenses and more in prospectus at invesco.com

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maria: welcome back. one thing you need to know about ahead of next week if all you've ever wanted is a vacation here is your chance for some killer deals. december 3rd is known as travel tuesday and dozens of airline, hotel, cruise, and travel companies are offering exclusive deals to close out the year. we are talking $29 for domestic

flights with breeze, and under $400 for international trips on select airlines. major hotel brands like marriott, hyatt and hard rock offering discounts between 20 and 50% off room rentals and you can sail on the sea with voyages on norwegian cruises offering deals on their newest ships and save up to 1,000 dollars on group tours with the adventure company geographic expeditions and after your shopping spree i hope you'll join me weekdays on "mornings with maria" 6:00-9:00 a.m. eastern on fox business. that'll do it for us, thank you so much for being with me. i wish you and all of your family and friends a happy thanksgiving weekend. we'll see you next time.