the right thing, spend the money they have to spend and make the commitments they have to spend because, again, i don't think president-elect trump is going to do it. >> absolutely. i mean, the expectation is that there will be probably demands to increase the share of defense spending up to probably even 3% from the gdp and to get more involved in different military conflicts in the direct neighborhood including obviously the war. charles: you started off talking about the different dynamics and different paradigm shifts, one being technology. we don't have time to go into it but i advise people to look at your tweets and expos, and you talk a lot about drones and that's a difference maker. we hand it over to liz claman. larr.liz: the s&p and nasdaq at there today, we've got the s&p

down 31 s, nasdaq down 114. earlier the nasdaq did hit an intraday record. dow jones industrials down 128 points, led lower by travelers and nvidia. we're going to get you much more on the markets and nvidia in a moment e first, we've got breaking flus on the massive manhunt for the gunman who murdered that united healthcare ceo in midtown manhattan last wednesday. a suspect is in custody this afternoon, police grabbed 26-year-old luigi mangione, a former ivy league student in a mcdonald's in altoona, pennsylvania. police say he had a gun on him that resembles the gun used in the brazen attack. wednesday, the gunman walked unbehind brian thompson as he entered the hilton on west 54th street. the gunman fired multiple rounds, killing the insurance executive. details are flooding in on the story second by second including specific items found on mangione

that matched those of the gunman. coming up, we'll get you a live report on the fast-breaking developments. in the meantime let's go to the markets. looking on risk off right now, nvidia was the dow's problem child at the market open until travelers took it over. the a.i. chip maker is down just under 3% at the moment. it sold off at the open after finding itself in the cross hairs of the chinese government. the 234 initiated an investigatn into the company, for quote, violation of anti-monopoly laws. shares are off session lows right now but barely and considering the stock has gained 179 points year-to-date, opportunities on buy on any dip don't come very often. shoed yshould you scoop up somee selloff. dan 23450e niles has a very spec

window on when you should buy nvidia and when the window could close. the best performing asset since election day seeing selling pressure this hour after topping $103,000 a year ago. bitcoin is pulling back by 3.8%. it is falling below $97,000. and while xrp is also recoiling at this hour, what a runup it has had since election day. gaining dramatically, the play the rippletoken has skyrocketed. he took center stage for 60 minutes on the power he believes donations had in helping pro crypto candidates win senate and congressional seats. now he's making a major request to the s.e.c. coming up, s.e.c. commissioner hester purse, crypto mom, is here. we'll tell you what darling house and the digital money sector want and we'll ask the trump appointee how close they

are to getting it. in the meantime, the broader market may be retreating, the mag seven a team, apple and amazon, hitting intraday records. they are the two safe havens now or are they getting too hot to handle? after multiple market records, what else might be entering the danger zone. joining us with 590 billion in assets under management, senior portfolio manager brian van cronkite and superstar trader kenny pollkari. you're striking a reasonable but slightly sort of disconcerting tone about the markets at the moment. tell me what you see. >> i'm very worried about complacency with most investors. the s&p 500, the gift that keeps on going, the mag seven has been a big part of that right now but looking at valuations we're in a precarious spot right now. market cap to gdp is high, leads to modest returns from here. if you get into the nuance, the

weeds, the mag seven is 30 plus percent of s&p 500 and earnings growth rate for the mag seven is coming down and colliding with the modest 493. do we still want to pay high valuations for the mag seven stocks that are at seven times price to sales. i'm getting worried about complacency if you hold that. liz: aside from valuations, you see several yellow warning flags, not necessarily red but certainly things you say investors need to take into account and among them you say, again, stretched over all valuations, passive exposure in the magnificent seven, uncertain fiscal spending under the future president trump could make the fed's job harder. what would that have to do with how the market moves? because people have put up warning flags for a couple years now and if they sold out of the market, they've lost. >> it's exactly right. an interesting level. the fed's job is to predict the future. they're going to use data, predict what's going to happen, there's a long lead time, long

lag time to what they do and needs to work hand in hand with fiscal policy and it's possible that the incoming regime is going to have more volatility to it, more uncertainty of what's going to happen which makes it hard to predict whether we're going to see fiscal expansionary policies, different tax policies, tariffs, et cetera. if they can't have visibility, it's hard to make decisions. i think the fed's job got harder. we need to consider the chance of an error and if there is an error at these valuation levels the downside could be significant. liz: could the error be a week from wednesday which is when the federal reserve makes its announcement about its decision on interest rates for the final meeting of the year. you said last week right here on the show, i don't think the fed should cut. i mean, we've gotten strong data. we're getting more this week. consumer price index, we are also getting the producer price index, those are two key inflation gauges which if you look at the expectations, they look really kind of sticky. 3.3% for core pce? so what if the fed pauses?

which would be the mistake, a pause or a cut? >> i think a cut is going to be the mistake. i think they should pause. i think they've been very aggressive in september, october. i think the data is suggesting that not only the labor market is robust but the economy and inflation are starting to kind of tick the other way. right. they're going from -- they're going to start to trend upwards, not downwards. i think the fed should do nothing but the market has taken control of this conversation and 89% expect this rate cut. if they don't get it they're going to stamp their feet and scream and yell and start to sell stocks. i wouldn't be so opposed to it. i agree with brian. i think brian must be reading my morning note. everything he said is what i think. i think we're stretched. i think you have to worry about complacency. the vix is all time lows. i think the fed is going to cut. i think they're backed into a corner. i don't think they should. liz: okay. well, brian, one of the sectors

you point out is looking somewhat frothy are smaller and regional banks. they have had an unbelievable runup this year and that's certainly encouraging because we like small tboongs do well. they're community banks, they're the ones who lend to small businesses most easily but why do you say avoid these right now? because they have run up so much? >> i think people are pulling up the 2016 playbook. let's assume trump comes in, you have massive tax cuts, the economy surges higher. that's great for high beta, small regional banks. fundamentals aren't reflecting it in a material way. we're not going to see significant tax cuts. we'll probably see some potentially. valuations have ripped. and they're ripping out of deregulation which probably happens but i think what people are get betting on is consolidation. whether you're winner or loser on your picks, i don't like that set up. banks are challenging bringses. businesses. i prefer large cap banks over small cap banks.

if you want beta buy industrials and materials which are more attractive right now. liz: why? what pe ratio should you be looking for for those kinds of sector names? >> materials and industries space. it depends on the business. what i want to own is companies with strong pricing power and financially free balance sheets. the only way you control december at this any today is not by betting on regulatory, gdp, bet on the balance sheet being used to drive a change, acquisition, organic investment, buying back stock. look for companies with reasonable valuations and they have scroll of their destiny by using their balance sheets. liz: some of the names are graphic packaging and charles river. what are those names offering to investors right now that you say is an easy choice? >> all three have a little bit different perspective right now. vulcan is an aggregate player that will give you upside to the economy as it grows with good pricing power and discipline in operations. griff inpackaging is going threw

an important change, moving the quality of the cash flow up the quality curve, giving them financial freedom *678. they'rewrapping up a cap ex spe. charles river is in the healthcare space. it's a secular winner in the clinical research space. they're investing through the trough which makes them a big winner. liz: who knows, some of these may sell off if there is that moment that we're talking about and i'm with you. you know, people shouldn't fear a correction. that's an opportunity is it not? >> right. it is an opportunity. especially sings i think valuations are stretched so much that you could see the market if it doesn't like what it hears, one bad headline or the fed doesn't cut rates next week and suddenly everybody panics, you know, the trader times will run for the door. if the market backs up 5 or 8%, i think that's healthy. i would like to see that shake the branch a little bit after the runup since the election and let it settle down a little bit.

look, i'm bullish on the market. i'm bullish going into next year. but to brian's point, have you to be careful because there's certain sectors that i'm absolutely not chasing. i own them but i'm not chasing them, not buying any more for sure. liz: okay. let me just say thank you to both of you. we have to get to this breaking story on the united healthcare situation. fox business alert, a major break in the search for the man who killed united healthcare ceo brian thompson last wednesday. police at this hour say they have arrested 26-year-old man who was carrying a weapon consistent with the gun used to kill the ceo of the largest healthcare insurance company in america. ex university of pennsylvania student luigi mangione was taken into custody at a mcdonald's restaurant in altoona, pennsylvania after the employees recognized him from wanted posters. he also had on him a mask consistent with the person wanted in the brutal murder

outside of the new york hilton in new york city. he had a fake id that matched the one the suspect used to check into the new york city hostel where he stayed for 10 days before the ambush. details coming in by the minute. fox news' alexis mcadams has been following every twist and turn. she has very good sources on this. she joins us live now. what else have you learned about the arrest of the suspect in the case? >> reporter: hey, liz. thanks. here in central park we started our day because we thought this was going to happen here on the ground where they were looking to possibly find the suspect's gun. but now i'm being told they believe they have found that weapon at a mcdonald's location in altoona, pennsylvania. okay. so they go to this place, they get a call from somebody, rather, mcdondonalds employee wo says i think i spot the gunman. they say in the pocket they find a bunch of different fake ids

like the one that was used to check into the new york city hostel. they find a gun they believe was made on a 3d printer. they're trying to figure out if this suspect printed it himself. he had a tech background. he was very intelligent at least in the classrooms. he had a manifesto in his pocket. investigators are looking at the paperwork. watch. >> we don't think there's any specific threats to other people mentioned in the document but it does seem that he had some ill will toward corporate america. >> reporter: okay. so that's the latest from police there in manhattan, liz, is they're trying to figure this entire thing out but the sees ' suspect-- it keeps going back ad forth. i'm being told this is a suspect. they have him in for questioning right now and they're trying to communicate with him but i guesses not really talking too much at this time so they're also going to talk to his family and try to piece this together but in terms of a motive, if you

just look at the paperwork he had with him, it's about the ceo's job, about the health insurance industry and about corporate america i'm 208d by ty sources. they'll piece it together and we'll get more information. it wase good work by the nypd. they went through thousands of clips of surveillance video and they found the backpack in central park. they were searching for more evidence but the search looks like it ended in altoona, pennsylvania, liz. liz: tip of the hat to the cops. they have done an incredible job. the big question, though, alexis is this man went to university of pennsylvania, he's from maryland. people know him. why did it take -- i know you probably don't have the answer to this but i'm asking what everybody's asking, a mcdonald's employee to first out him, to first say i think that's the guy. >> reporter: i know, that's what one of the detectives who has been working the case, i mean, these detectives have not gone home in days because the manhunt

has been going on so they're wondering how come it took this elderly gentleman in an tool that to look over and say i recognize that guy when you know if somebody lived with somebody, worked with somebody, that's the person that would have recognized him so it goes back to the question of did the family see those photos like the roast of the country did and why did they not call it in so that's part of the investigation. we know the nypd just got altoona, pennsylvania, it's a four, five hour drive. they left when this broke. they went there to talk to him so we'll see what happens next. liz: alexis, one last thing. quote, the eyebrows and the gun match. that is what the police officers were saying. i don't know if those were altoona police officers who handled the situation very well as we understand it, but again, what do you think is going to happen next? do we expect charges? >> reporter: yes, so charges are possible. i mean, right now they have him on gun charges. what the want to do, the nypd, they want to bring him back here to new york city to face the

charges. the commissioner said earlier they've been working with the da's office in manhattan, alvin bragg, step by step on this. they want to bring him back here and charge him with pos employ the murder of the ceo, brian thompson. one more thing, t they have two dna swabs to compare those. liz: dna is the most important thing. it's hard to argue with dna. thank you very much. we understand the sensitivity of all of this but united healthcare is a publicly traded company and only on this news, there really isn't any corporate news, the stock is up 2 and-a-half percent at the moment. fox business has a statement from the insurer, thanking law enforcement and hoping the arrest gives relief to brian's family and colleagues. we're back in a minute.

(grandpa vo) i'm the richest guy in the world. hi baby! (woman 1 vo) i have inherited the best traditions. (woman 2 vo) i have a great boss... it's me. (man 1 vo) i have people, people i can count on. (man 2 vo) i have time to give (grandma vo) and a million stories to share. (grandpa vo) if that's not rich, i don't know what is. (vo) the key to being rich is knowing what counts. at harbor freight, we do business differently from the other guys. we design and test our own tools. and sell them directly to you. no middleman. just quality tools you can trust at prices you'll love. ♪ i'm kevin hart. i'm a leading man, ceo, media mogul, a board member... he keeps going and going and going... just like my chase freedom unlimited rewards! is there an off switch? no, you can't shut it off. 'tis the season to cashback with chase freedom unlimited. how do you cashback?

since 2019, john deere has invested more than $2 billion in our american factories. today, we're nearly 30,000 u.s. employees strong. in more than 60 u.s. based facilities, across 16 states, we couldn't be more proud to play our part in supporting americans who work the land and build a better tomorrow. ♪ nothing runs like a deere™.

it's our son, he is always up in our business. it's the verizon 5g home internet i got us. oh... he used to be a competitive gamer but with the higher lag, he can't keep up with his squad. so now we're his “squad”. what are kevin's plans for the fall? he's going to college. out of state, yeah. -yeah in the fall. change of plans, i've decided to stay local. oh excellent! oh that's great! why would i ever leave this? -aw! we will do anything to get him gaming again. you and kevin need to fix this internet situation.

heard my name! i swear to god, kevin! -we told you to wait in the car. everyone in my old squad has xfinity. less lag, better gaming! i'm gonna need to charge you for three people. liz: fox business alert. a new investigation by the chinese government has the world's most -- second most valuable company behind apple sinking at this hour by about 2.7%. nvidia under the microscope of chinese regulators. the chinese regulators said in a statement that the company's purchase of another company called melonox technologies back in 2020 has somehow spiked their interest. regulators initially green lit the deal with the stipulation that nvidia would not d discriminate against chinese companies. they have been held to u.s. rules by exporting to china.

they blocked nvidia from providing chinese businesses with the most advanced chips. how badly will this investigation hurt the leader in the a.i. revolution? should you be buying on this slight dip? here to answer that first on fox business, niles investment management founder and portfolio manager, dan niles. dan, first, your gut reaction to this investigation. i mean, nvidia doesn't really have that much exposure to china now, does it? >> no, i mean, it's really not that big of a deal. this is tit-for-tat. but the u.s. is restricting chips going into china so china has to respond. they talked about restricting rare earth metal shipments that help with semiconductors to the u.s. they're talking about this right now, begin nvidia can't ship highest performing chips to china anyway, it doesn't make that much of a difference. this is just the typical news flow back and forth. i'm more concerned about other things like have we hit a wall

with scaling laws and things like that. this is sort of a sideline distraction. liz: let's define scaling laws, meaning the ability to continue making these quantum leaps in the development of a.i. but if anybody's going to do it, at the moment it is nvidia with this blackwell chip. we had the ceo on the show and he was very clear that demand is outpacing supply. so give us a window on when that kind of i guess response in dollar figures would show up in the earnings and when you think it might kind of subside a bit and that would give people a sense of when to buy and when to not dive in. >> so it's a very tricky situation with nvidia because all semiconductor companies are the same. you saw this during covid. when you couldn't get the supply of chips you wanted, everybody doubled and triple ordered and so if you use nvidia as an example during covid, their revenues went from being negative year over year prior to

covid to covid hits and then their revenues go up 84% year over year in the beginning of 2021. then demand starts to slow down at their customers such as google, amazon, microsoft and their revenues go from up 84% to down over 20% year over year and the stock goes down over 60% during that drawdown. then this thing called generative a.i. hits and the revenues surge again and now you're back to the same situation that you were during covid where supply can't meet demand but i think the same thing's going to happen which is you get to a match between those two by some time in the first half of 2025, and you're going to see revenues really get cut as all these double orders go away because at the end of the day it comes down to your customers and can they generate incremental revenues from all the spending and one of the biggest customers, microsoft, cut revenues after they reported

the june quarter. they guided below the street again when they reported the september quarter and don't forget, they have 50% economic interest in open a.i. which started this whole thing with chatgpt and so that's what you should be more focused on. liz: what looks tasty to you out there when it comes to price to earnings ratios at the moment, but you talked about how, well, in 2025 nvidia looks pretty fair and reasonable but what else is there that you really think is an opportunity? >> well, for us we're really looking outside the magnificent seven. we've been talking about this really since mid-year and if you look at the market as a whole, you've seen it really start to broaden out where in the first half of the year through june, the s&p's up 14%. but the equal weighted s&p is only up about 4%. now, since june 30th, you've seen both the s&p and the equal weighted s&p up about 1 12% each and so you've seen the money

starting to flow into other areas of the market that haven't had this huge surge on anything that says a.i. so that's what we're looking more and if you're thinking about tech, areas like software, it's much more interesting now than hardware to us and things like networking, that sector is much more interesting than semiconductors to us at this point. liz: well e cisco reports after the bell. we'll be watching all of those and more. dan, thank you. it's great to have you on the show. >> thank you, liz. liz: dan niles. we are coming right back with breaking news out of syria and that entire story that happened over the weekend where bashar al-assad the leader is out. he has run away from the country. we're getting you the latest developments in the story, next. ♪ in any business, you ride the line between numbers and people. what's right for the business and what's best for everyone who depends on it.

solving today's challenges while creating future opportunities. it takes balance. cla - cpas, consultants, and wealth advisors. we'll get you there. i'm barbara and i'm from st. joseph, michigan. i'm a retired school librarian. i'm also a library board trustee, a mother of two, and a grandmother of two. about five years ago, i was working full time, i had an awful lot of things to take care of. i needed all the help i could get. i saw the commercials for prevagen. i started taking it. and it helped! i was better able to take care of all those little details. people say to me, "barbara, you don't miss a beat." prevagen. at stores everywhere without a prescription.

here's something you don't see very often... elves not working and why not? i gave them the day off. thanks to weathertech. with so many gifts for everyone they won't have to work as hard. there's laser measured floorliners and cargo liner. plus the child car seat protector. and cupfone to secure any phone while driving. or get a gift card instantly at wt.com ♪ i call winner! (♪) (♪) what took you so long? i'm sorry, there was a long line at the thai place. you get the sauce i like? of course! you're the man! i wish. the future isn't scary. not investing in it is. nasdaq-100 innovators. one etf. before investing, carefully read and consider fund investment objectives, risks, charges, expenses and more in prospectus at invesco.com

liz: breaking news, this is just happening in the last hour. israel striking major syrian air bases, destroying dozens of helicopters and planes. that according to reuters. it comes after syrian rebels overthrew the assad regime after a 1 13 year civil war, announcig today a new government will begin work immediately. the rebel alliance led by a former al-qaida militant who remains on the u.s. terrorist watch list. over the weekend the rebel coalition took over damascus and ousted president bashar al-assad. any new government will certainly have its hands full with a virtually nonexistent

economy and a very high cost of rebuilding, an estimate from the carnegie middle east center in 2019 several years ago put the figure as high as $400 billion. fox news' alex hogan is joining us live in tel aviv with the breaking situation. not only under folding on the streets of damascus but the israeli strikes that have just happened. alex. >> reporter: hi, that's right, liz. today people celebrated in the streets with civilians flooding to prisons across the country hoping to find loved ones who were locked up during the regime. this marks the end of the assad family rule, they have been in power for more than 50 years and syrian rebels now control syria. it is made up of a coalition of groups with the strongest group, hts, which the u.s. has designated as a terrorist group. the opposition forces started

their offensive only two weeks ago, taking advantage of assad's key allies russia and iran facing current conflicts of their own. rebels seized damascus yesterday with bashar al-assad fleeing to moscow. celebrations quickly broke out in the city and around the world. world leaders are optimistic that this marks the end of a brutal regime and it will mean a new chapter for the people of syria, washington is taking measures to prevent isis from taking advantage of the moment. there were 75 strikes against isis lie leaders and bases in s. >> we've been pretty successful. that's focused on isis to keep the pressure on isis and to deny them the ability to easily resurge. >> reporter: as you mentioned, liz, tonight syrian officials are claiming that israel bombed these air bases. we have not heard from israel on that but we have heard the

israeli government say that they did strike suspected chemical compounds, taking out long range missiles and rockets to prevent those weapons from getting into the hands of extremists. liz. liz: alex, thank you very much. we need to get you some individual stocks that are moving on this -- yet, merger monday, back in a big way. ad agency omni con group inking an all stock deal to buy its rival interpublic group. interpublic shares are gaining 5% on the news, omni con pulling back by 10% now. the deal if approved would combine the world's third largest ad buyer with the fourth largest and create the world's largest advertising agency. given the size of the firms, the merger could attract regulatory outany but on no con's ceo said he's confident it will not trigger anyish shies given that president-elect trump's inany nainclination to be more busines

friendly, this comes as ad firms are trying to compete with google and amazon who are attracting media dollars by offering a.i. tools. reports of another potential deal causing a sugar rush for hershey. hehershey stock is up 12% on a report that mo mondolez is exploring an acquisition, it would create a company with nearly 50 billion in sales. mondolez is pulling back slightly. work day shares are rallying 5 and-a-half percent on the announcement that hr and finance software maker is joining the s&p 500. the addition will take place before the market opens on december 23rd. meanwhile, on the other end of this, app love it is on pace for

a record percentage decrease after the advertising tech company was not on the s&p 500 new addition list. the disappointment comes after baron's reported that it was a leading candidate to be added to the index due to its market cap. the perceived snub has the stock down right now 14 and a third percent. and we should just say the market cap is at $102 billion. well, the crypto world has since election day been celebrating donald trump's election and his choice for s.e.c. chair. former commissioner paul atkins is known to be pro-crypto. what does fellow crypto advocate and current s.e.c. commissioner hester purse mike make of the ? we'll ask her next. first she tackled the goal of turning a childhood dream of becoming a fighter pilot into

reality. her ambition was like a heat seeking missile that would not stop. she became one of those navy top gun pilots who flew nearly 440 successful combat missions during the iraq war. after reaching that goal and crushing it, she set her sights on something almost as difficult to achieve. a leadership role of the company that's nearly as big as the u.s. military. amazon. today, she spans the continents as vice president of the world's largest e-commerce business. the sky's the limit for sarah rose, she's this week's guest on my podcast. you can hear it wherever you download your pod casts. i hope you listen. let me know what you think. dow jones industrial down 179 points right now, red on the screen for the majors here. we're coming right back.

confident. measured. ready. the markets, like life, will turn and challenge us. but when emotions run high, we stay grounded. with the hcm buyline, we work to empower investors, in navigating market volatility and complex conditions. we provide a diverse portfolio with proprietary mutual funds and etfs aimed at growth and preservation.

so you can invest with confidence. visit howard c.m. funds dot com. taking care of mom was becoming a real challenge. i was so grateful to discover visiting angels. mom's visiting angel helps her shower and dress, and she keeps an eye on mom's alzheimer's. and our care manager gives me regular updates. best of all, mom has a trusted companion who cares about her. ♪ visiting angels america's choice in home care ♪ meet the traveling trio. each helping to protect their money with chase. wooo! tools that help protect. alerts that help check. one bank that puts you in control. chase. make more of what's yours.

it's payback time. all these years, you've worked hard. you fixed it. you looked after it. maybe it's time for your home to start taking care of you. we had a whole lot of equity just sitting there, you paid down the mortgage, invested in your home. i guess, you could say, your home owes you. if you're 62 or older and own your home, learn how you could access a portion of your home equity to give you cash. a reverse mortgage can put more money in your pocket by eliminating your monthly mortgage payments, paying off higher-interest credit cards,

and covering medical costs. look, finance of america can show you how a reverse mortgage loan uses your built-up home equity to give you tax-free cash for almost anything you might need just eliminating the mortgage payment freed up a lot of cash for us i get to do what i want when i want finance of america customers talked about the counseling they got along the way so they know how a reverse mortgage works, and how their home could help pay them back when they need it the most. i have no more worries anymore the fact that we're still in this home, means so much. it's done everything for us that we hope it would do for us. call now to receive your free no-obligation info kit. the kit shows you how to get you the cash you need using your home's equity with a reverse mortgage. find out how your home can start taking care of you. call this number.

the worry every single month to make that payment was gone our customers' homes are taking care of them. maybe, your home could do the same for you. call finance of america, the country's #1 reverse mortgage lender and get your free info kit. call this number. >> we haven't been asking to be

deregulated. we've been asking to be regulated. we're saying look, give us clear rules of the road. liz: ripple's ceo being handed kind of a major platform on cbs news' 60 minutes last night. he has spent years battling lawsuits filed by the securities and exchange commission that have accused the block chain platform of selling its xrp token as an unregistered security. he emphasized the need for clearer crypto regulation by the s.e.c. take a look at the token xrp, it spiked more than 364% since donald trump officially won the presidential election on november 6th. the current s.e.c. chair gary gensler is set to depart office on january 20th. how will paul atkins for the s.e.c. change the game? joining me in a fox business exclusive is the s.e.c. commissioner hester purse.

welcome, commissioner. you've been one of the few crypto advocates at the s.e.c. what's your response to the just give us the rules of the road request. >> hi, liz. it's great to be here. i agree, there has been a lot of interest in having clear crypto rules now for many years. and it's time and i'm looking forward to being part of creating throws rules. liz: how do you think that if paul atkins is finally taking the place on january 20th of gary gensler, will he absorb that? do you know anything, have you spoken to him about how sees regulation? >> well, i work for paul atkins. i know a lot about how he approaches problems. he's very good at thinking about how to use government efficiently and effectively to solve problems but not to step in the place of the market where the market can do its own thing so he's got the balance right and i think that's why he's -- he'll be very good at tackling this problem. liz: that is the big fear. they don't want to see somebody

who comes in and squishes in its incipient stages, although now they're the spot bitcoin etfs, cryptocurrency has certainly grown and expanded when it comes to the investment world but what was your gut reaction? i just got to ask you this. when gary gensler put out the tweet, just a few weeks ago in late november that he would be stepping down on january 20th, the day of the inauguration. >> well, it's not surprising to see the chair step down when the president is changing so that wasn't a surprise but i think this is a moment for us to all work together to try to come up with a regulatory regime that makes sense and then let the market decide. do they want crypto? do they want certain crypto assets and not others? that's fine. but let's throw it over to the market now. liz: how valid do you think the ripple xrp lawsuit that the s.e.c. filed was? >> i can't speak about any

specific lawsuit that we're still engaged in and the s.e.c. is still engaged in a lawsuit with ripple so putting that aside, i think having been at the s.e.c. now for -- since 2018, it's been extremely frustrating being inside the agency and seeing opportunities that we had to provide guidance, to provide clarity and instead our approach has been almost entirely driven by bringing lawsuit after lawsuit which is a really expensive way for us to regulate and it's also not a particularly effective way. liz: you've been kind of lonely, haven't you? when i say that, i mean it's really been your voice as the so-called crypto mom and we go back several years where you would come on the show and you would try explain to people, to viewers, we wanted to give you this opportunity because it is something that people have wanted to invest in and now they can mostly with the bitcoin --

the spot bitcoin etfs which is certainly a big move, which gary gensler finally approved. but give me a sense, when you look at what could be done as far as regulation, what do you think the industry would need and would also accept and want? >> well, i think step one is to stop this approach of trying to prevent crypto from getting access to the services that it needs custody, for example, to move forward. so that's step one. stop the choke point aspect of government regulation. point two is provide clarity around which things are not within the s.e.c.'s ambit, so which things are not securities and which people don't have to think about the s.e.c.'s regulatory framework and then the third piece is to work with i think entities involved in cro try to figure out how the existing rules apply and where adjustments need to be made and that needs to be a group

exercise. it needs to be done in the public so everyone can participate in it and i think we can get to a good place and do that relatively quickly. i mean, all of these things do take time. but i think if we put our minds to it we can get to a better place and i'm hoping that won't take too long. liz: sort of that public comment opportunity. we've got a comment from bitcoin billionaire mike novagratz of galaxy digital last week when bitcoin hit $100,000 for the first time. he predicted it would probably go -- who knows, 180,000 by the end of next year but he did warn our viewers that between now and then if that does happen there would be a, quote, vicious snapback because there's a lot of overleverage at the moment, a lot of people piling into something that looks like, well, even better than digital gold, if you believe jay powell, the federal reserve, who said it should be compared to gold

certainly. what do you think about that? is it something that investors could get bitten? glits.>> it's always importantr investors to think about can i lose this money i'm investing. you have to think about city verse fix. leverage can be dangerous. you have to think about that as well and so i think always approaching investments with skepticism, thinking about whether it's right for you at this time and the place you are in your life makes sense and that doesn't matter whether it's crypto or anything else. liz: do you support a strategic bitcoin reserve? >> well, that's outside of my purview as an s.e.c. commissioner so i'm really laser focused on trying to figure out how we can provide more clarity in the space where it makes sense for us to provide clarity and leaving those bigger questions to other folks in the government. liz: we would love for you to join us again once there's a change at the top. thank you, commissioner. >> thank you, liz. liz: hester purse. it is not just crypto facing

regulators, will president-elect trump's new administration look kindly at the sky dance paramount deal or is the $28 billion affair going to face its own hurdles? charlie breaks it next on the claman countdown. dow is now down a bit more, 215 points. what does a good investment opportunity look like? at t. rowe price we let curiosity light the way. asking smart questions about opportunities like clean water. and what promising new treatment advances can make a new tomorrow possible. better questions. better outcomes. patients who have sensitive teeth but also want whiter teeth, they have to make a choice- one versus the other. new sensodyne clinical white, it provides 2 shades whiter teeth as well as providing 24/7 sensitivity protection. patients are going to love to see sensodyne on the shelf.

since 2019, john deere has invested more than $2 billion in our american factories. today, we're nearly 30,000 u.s. employees strong. in more than 60 u.s. based facilities, across 16 states, we couldn't be more proud to play our part in supporting americans who work the land and build a better tomorrow. ♪ nothing runs like a deere™.

to go further, you need to be ready for what's down the road. as energy demand continues to rise, we're harnessing breakthrough innovations to increase production in the u.s. gulf of mexico. our latest deepwater development, anchor, produces previously inaccessible oil and natural gas, allowing us to deliver the energy we all need today so everyone can follow their own road. that's energy in progress. at harbor freight, we design and test our own tools. and sell them directly to you. no middleman. just quality tools you can trust at prices you'll love. whatever you do, do it for less at harbor freight. ♪ (vo) what does it mean to be rich? maybe rich is less about reaching a magic number... and more about discovering magic.

rich is being able to keep your loved ones close. and also send them away. rich is living life your way. and having someone who can help you get there. the key to being rich is knowing what counts.

it's our son, he is always up in our business. it's the verizon 5g home internet i got us. oh... he used to be a competitive gamer but with the higher lag, he can't keep up with his squad. so now we're his “squad”. what are kevin's plans for the fall? he's going to college. out of state, yeah. -yeah in the fall. change of plans, i've decided to stay local. oh excellent! oh that's great! why would i ever leave this? -aw! we will do anything to get him gaming again. you and kevin need to fix this internet situation. heard my name! i swear to god, kevin! -we told you to wait in the car. everyone in my old squad has xfinity. less lag, better gaming! i'm gonna need to charge you for three people.

the red and deep crimson shade and the dow jones industrial down 235 points and i want to point out ibm is now the laggard here on the dow jones industrials and hit a 52-week high, which could possibly be all time high and reversed and now down 3.7% and we've got s and 3 down 37 points and the nasdaq lower by 118. we should look at oracle shares ahead of earning ands earning per share at $1.48 and on revenue of $14 billion right now. it's gone into negative territory and not down by much of three quarters of a percent and people looking very closely at ai cloud services provider and looking at shares of

paramount. moving higher by 1.33% and the companies deal with media company dye sky dance goes through and if the merger goes through, the deal is expected to win regulatory approval under new trump administration and may hinge on sweeping changes. the federal communications commission is eyes at its new arm. charlie what, kind of changes cs are they mulling? >> let's be clear. i wrote a column and people are confused of what keep of regulation is over the broadcast industry and we're all looking for a large extent and fairness doctor and it's el embedded. liz: is that still around? >> it's in the fcc rules

relating to public airways hawaii are the public airway s? cable is not a public airway so you know. we are -- we can do whatever we want. liz: we're not held to equal time rule. >> no, none of that and that's exactly it. if you're a public sell vision station, a broadcast station like cbs affiliate new york that gets feed from cbs national, you are held to that fairness issue; right. you have to provide both sides. this merger is probably the motion because conservatives are complaining about this that cbs in the past and conservatives and brendan car running the fcc under trump as its chairman has a pretty good case from what i understand that cbs is tilting the scales in favor of democrats way too long and they want his blessing and they'll have to fess up and make changes and

they'll have to at least tell him here's how we'll be fair in the future. the evidence he's compiling and talk about and people i'm talking to involves norah o'donnell and debate over jd vance and interrupted him several times. maybe not on the sort of hyperbolic scale of what he's concerned about. also mention what happened with tony and he interviewed letitia coats and far left author what she's really annoyed about is the potential and there's evidence to suggest this that cbs edited kamala harris' cbs60 minutes edited kamala harris' word salad out of 6 o minutes interview and there was

apparently a, you know, a promo that showed her answering the same question in much, let's say eloquent ways than what they had on the show. they want, and people called for the they're telling people from what i understand larry made the call to the president and they're underestimating that trump is all about the deal, the art of 8 deal. i believe they prove this on antitrust grounds and they'll believe that and it'll be a different cbs going forward and much more fair and has to abide

by the fair doesn't mean censor but abide. liz: just abide. >> equal tide for both. just equal. colbert won't be hosting democratic fundraisers again. that i can tell you. liz: he's a comic. >> doesn't matter. he's on a network tv and a dail, advocate for the democratic party every night and enthis he goes and hosts a democratic fundfundraiser. we don't even have the fairness dock racket. liz: someone once did and >> yelled at. >> we don't have the fairness doctor. liz: we do not. we're cable. charlie, thank you and markets feeling a bit of december chill to start off the week. the dow, s&p and nose dak in the red -- larry: hello, folks,