put into eggnog. lauren: whiskey. i think whiskey is good or spice wine is also good. >> i would say vodka because vodka does better. stuart: camera guy frank says it has to be brandy. where did it originate? >> i will go with france too. france. >> frank is saying that. the answer is britain. to the thirteenth century. we know old it. totally out of time. sorry about that. is it neil? it is yours. neil: how are you doing? just kidding. have a great one. thank you very much.

we are looking at markets poised to to think the inevitable will come today. more rate cut of the federal reserve accorded point. what he says after the fact, as they digest the fact that all we did is pounding and the dow, remember this update is after 9 down days we' ve not seen since 1978 so they hope to disrupt that moment. edward lawrence at the white house, consensusbuilding of another quarter point cut but that could be it for a while. >> the worst kept secret in washington dc that the federal reserve will cut that 25 basis points. we are watching the tone of the news conference, jay powell might offer clues as to how aggressively the fed will get interest rates down to where they want to be so we will get economic projections along with the fed statement of those projections showed in september

four rate cuts from 2,025 and it has cut back to 3, because the inflation data we've seen the past few months, overall inflation is taking slightly up for inflation gauges and the fed looks at, core inflation is moving sideways at 3.3% and that's the stickier inflation. >> when you look at the resiliency of the us economy, inflation is a little stickier than the fed had hoped for. we expect a little more of a hawkish tilt today. >> to see what's good for the economy might be two things, the markets love cheaper money. strong jobs reports might require the end destination for those rates be higher but that is the problem for many watching, they don't know where the fed is actually going. >> the most important thing we hear from the fed's where they

see long-term fed funds. that ranges too wide. >> i will try to get some clarity when i talk to the fed chairman into and a half hours. neil: thank you very much. a young man who follows this closely, the chairman and managing member of radio capital. it's not meant to be like that because everyone is younger compared to me because it gives a good perspective on this and i wonder if these nine down days, there's no connection to the overall tone of the market. a bit of a relief rally. what do you think? >> the 50% of the 1500 point drop in the dow, 50% was attributable to united healthcare. as a matter of fact, healthcare relative to the s&p is having

its lowest performance since 2008. lauren: 1 is happening before that, go ahead. >> of the 500 is simply components 62 are healthcare, the average healthcare stock, down 19%. as mark twain used to say the rumors of my demise are greatly exaggerated. this exact same thing happened in 2016 after trump was elected and before the inauguration. he was going to tear up the affordable care act, didn't happen with john mccain and use biotech rally 75%, there's going to be tremendous opportunity to take advantage of healthcare that's part of the rotation you are seeing in december. the other parties tax loss selling. growth has performed so nothing to selling people sell those after the new year. value stocks of underperformed so they are creating tax

assets. neil: let's forward to the next week or two, an incredible year, the dow is up 18%. >> santa will come together with tax loss selling is over. neil: santa always wears red. hopefully no grinch this year. we have strong earnings. it is a great question. they will be more subdued, 8%, 12% for general indices. jack: not bad. we are use used to 30%. goldman sachs is saying 3% if we are lucky. >> the correlations of stocks are at the lowest level in 24 years going back to 2021-22.

the 493 are going to pick up the slack. if tech does perform more modestly than it did this year, there's tremendous ways to make money under the surface. you have to be a little cautious if you are too overweight, some have become fully valued. neil: the magnificent seven, even though you get nvidia in correction territory, tesmer is a little under duress today, not much but how do you play that up? a lot of people by virtua stock performances are disproportionately in check. what do you tell them? >> look for simpler stocks in 2025. boeing is turning around, the

union problems are solved. neil: you still have those astronauts. wall street doesn't seem to care. a whole heap of problems here, the sentiment that it was over beaten, is this a genuine turnaround? >> if they have a 10 year, half trillion dollar backlog, if the duopoly. you can only get it from boeing or airbus and if you say i don't like boeing, you've got to wait 20 years from airbus. they will fix it. at rockwell, created a four -- for his shareholders. another symbol when is disney, still down 50%. it is starting to recover. neil: how do you play this?

play the dogs or the dow and they have their day. the dog still bark for a why your. there is no here here. >> bookie is low to no leverage. that is when people get hurt. know that over time, good quality businesses recover. that extends to disney. neil: does it extend to the borrowers who want to purchase these stocks? some are borrowing on leverage of their own. margin accounts. >> that away to get stopped out and nervous too soon with good quality businesses. good things come to those who wait. the name of the game is the turnaround situation, a durable business that has been around for decades. is just solvency risk. boeing get our little worried

and disney is cash flow positive. just wait and they -- he will be very happy. you say it is disney. everyone likes disney and they are down materially. neil: the rally continues. >> index holders will be underwhelmed. other than the last we 10 days we saw a real broadening sense of the summer. this is a pause that will refresh and we will see 493. neil: the other s&p stocks. >> in trump 1.0 everyone was worried about x us, you can't give away international stock. there is some value there.

some our location, don't have to go crazy but what we saw they outperform. that could be a surprise for 2,025. neil: global etfs percolating. we watch what happens. good seeing get you. thomas haynes follows this closely. chad pergram, we had two rich guys looking at what this measure is. they are not happy at a certain speaker could be in duress. >> christmas is the time for giving and might be giving mike johnson a headache. conservatives are apoplectic about the spending package, jammed with take it or leave it bill. >> if they didn't think that was going to happen, they are paying attention for the last six years.

it doesn't matter. >> some republicans blame johnson. they expected him to handle it differently. for kevin mccarthy. johnson texted with musk and vivek ramaswamy last night. >> you are in an impossible position. a razor thin margin, and a bill has to have democratic votes. it is not directed to you but we don't like the spending and i don't either. >> fiscal hawks say the gop can't talk about cuts via doge and support a package like this. also a congressional pay raise. should members get a pay raise? is that deserved? >> we are not taking the increases, there's some semantics of their and i want to see how it is worded. >> do you think people are for that? >> since 2009 when the last

raise was given it has been an issue every single congress. no surprise it is in this one as well. >> reporter: johnson must rely on help from democrats to pass the bill. some republicans may threaten to withhold their support for johnson to return in january. the plan must move through the center. funding expires saturday morning and we've just been told that the house might, i will underscore might vote on this later today, less than 24 hours after the text of the bill. neil: to me the biggest event is they stop for you. you can chase the best of any of them. >> the famous goalie dominic hasek said it is all about positioning. neil: are you body blocking the more they can't get around you?

they are not walking and talking but i've got to talk to chad but i stop and talk. >> we do a little body blocking and strategic, knowing how they take it. it is all the above. i don't give away my state secrets. neil: you are a thin, fit guy. i could body block if i wanted to through no skill of my own but i'm intrigued by that. the next fellow congressman chip roy, republican of texas follows it closely, on board with some of his colleagues of late but standing still just to vent. always good seeing get you. merry christmas, you are not feeling very mary when it comes to your colleagues. what is it you don't like? >> merry christmas to chad who does a great job. he stopped me in a restaurant to get information.

here is the thing. opening this segment, the whole conversation was about inflation. how do we help the american people? you are not going to curb inflation without two things, hammer regulations, deregulate and stop spending money we don't have but here we are, since republicans were given the majority on november 5th what have we done? by my count if we pass this bill, which we should not, we will have passed 310 to $30 billion of increase in deficit spending, none of it paid for. we pulled our financial thing together as a country but it is not. this is a 1550 page builds we got the text last night at 6:thirty p.m. we've been working in good faith. to get rules put to gather but

one hardline is the 72 hour rule we fought for under kevin mccarthy because this is the problem. when you get transparency the american people see it. a vivek and elon are exposing it. these guys can't hide. the emperor has no clothes. they can't run around and say go home for christmas and it happens. neil: speaker hudson is saying we have to get this out of the way to do stuff you are alluding. but i heard the same out of the prior speaker. is this one toast as well? speaker johnson jeopardizing becoming speaker again? >> i will put to you this way, it's not something that will earn favor with the conference that we are looking at such an enormous bill heading into

christmas. we should not, my message to the speaker privately and i will say to you and if we can try to figure out how to get it to the right place, we ought to do a simple cr with a small amount of supplemental and that is it. that's what we talk about doing but this has become a christmas tree bill and it should not be moving forward and the speaker should not bring it up today and we should not vote it in 24 hours after 1500 pages of text. neil: no way you can do that before going out on recess or you are all sleeping there. >> my argument, what could we do? what we said we would do, cr to marchant have something tight and narrowly confined to make sure there's money in the recovery fund, the people that are hurting but make sure we have a vote to pay for it.

we are fold all sorts of opportunities. we have a bill we filed yesterday called the doge active that would cut 9 defense spending by 13% to pre-covid levels that would pay for all of this. we wanted a vote on this because we can't keep spending money we don't have. there are provisions in the bill like the global engagement center that the house judiciary committee exposed as going after and colluding with big tech to -- we have friends like molly hemingway exposing federalism and what they are doing. neil: the fight continues. good having you on. merry christmas to you. it is jump all with this. they can avoid a soap opera but i don't know if you've heard this. we had a guest talking about boeing get, the company behind

the star liner, the marooned astronauts, they were just told we might not be able to pick you up until march. the second, boeing stock is coming get back. i can't tell you what they say after that because neither have been but it tells you the state of affairs after this. ♪ (vo) what does it mean to be rich? maybe it's not just about the places you can go... but also the people who welcome you home. it's not about living like a star... but about feeling like one. rich measures life in laugh lines... in moments, shared... and in days well-spent.

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julie: remember the series gilligan's island, it seemed like forever until ratings forced the show to get canceled, these poor astronauts on the star liner, supposed to have a 1-week mission to the international space station that was delayed a few weeks, they've been up there 17 years. may be not that much but they are told it is going to be made the march. boeing star liner, we had a guest talking about the fact that boeing is coming back, cold comfort to these astronauts who have been marooned for a while.

jonathan seri who i call my fellow astronaut has been exploring this. that is crazy. that is crazy. what's going on? >> they keep pushing their return later, they have their ride, space x crew dragon docked with the international space station but ideally they want them to wait until a relief crew, the next rotation of astronauts arrive at the international space station and nasa says they want to allow engineers more time to process the spacecraft that will bring those new astronauts, a new space x dragon. they arrived at the iss for what was expected to be an 8 day mission to test boeing's new spacecraft but intermittent thruster problems cause them to bring it back to earth without humans on board and they assigned. and suni to use an older space

x dragon, the only type of us spacecraft currently certified to carry humans. space x has dominance in the market and elon musk's close relationship with donald trump is raising eyebrows on capitol hill. democratic senator rights mr. musk's substantial interest present conflict of interest with the role he has taken on as your unofficial copresident. >> how is that different from the other legacy space company and the relationships they have within the faa and nasa? >> nasa has volumes of procurement regulation, she says those regulations keep the door open to competition and

she predicts a robust space economy and the coming years. neil: we've got to get these astronauts, you and me. here we go again, america. great job as always. more closer to earth, otto companies in japan when it comes to nissan in talks, there are a lot of impediments along the way. how likely is it these two, together? >> you are right. this is a big deal between honda and nissan. this could very well happen if these companies come together. if they do, it will make them the third-largest auto brand in

the world hosting 54 billion and making one of the top sales leaders. what is unique about this situation is in november nissan laid off 9000 employees as part of its global manufacturing unit. the writing is on the wall. they are a great american story, nissan is a vibrant brand, they have a new armada and the rogue is built in smyrna, tennessee. the chances of this merger happening are great but take into consideration mitsubishi is part of this conversation. sources tell me this could be a good thing for the brand. neil: is there nameplate? >> we have those fighting for market share against bigger brands like lexus in the market. if they do pull this off it will help rebuild the nissan

brand into the hybrid market, if they pull this off it could be a good thing for the market. neil: don't know what role american regulators have, opposed to airline industry mergers bringing it to the ground. with the reception be more favorable? what role would we see? >> it is about surviving, based on lack of sales, we saw when you talk about global bands merging, the ceo of stellantis was let go, released by the brand first sales, we know mergers can be successful. in this case when you take two brands like nissan and honda

who have great technology and strong loyalty to the brands this could be a solid thing for both companies. kelly: been pretty accurate. we will have to see. merry christmas. in the meantime, charlie gasparino was way ahead of the movement and how much was costing companies and literally wrote the book on on the bestseller on that, now along comes some etfs to make the case that we will not invest in anything that borders on welcome. enter charlie gasparino. ♪ 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

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in play 20 i love talking to charlie gasparino, to add him away from that other financial network but he's ahead of this woke movement. he is on top when nobody was, companies that went a tad too far but having said that, they are an investment strategy. charles: environmental social governance imposing certain

standards on companies by asset managers like black rock. neil: nothing to do with making money. is counterproductive. charles: one of the reasons i believe asset managers did this is to get other business to manage the money of loose state pension funds had to go woke in investing habits. you had to push for 0. neil: they enforce that policy. charles: the back lash came in two ways, red states started growing in size, the pension fund started getting big and ron desantis hates woke. the texas investment fund started getting big and greg abbott hates woke. now you have another back lash from people, plain old investors, money managers, saying if you want to be in the anti-woke movement which is all the rage, go woke ago broke, we

give you an etf exchange traded fund that invests in companies that defy corporate woke. neil: what if those companies have woke companies? neil: none of this is perfect science. neil: there's an anti-woke investment strategy. the pendulum could swing the other way. charles: hopefully. they have a long way to go to make up for what corporate america did from when it reached its most absurd levels, larry fink was talking about changing behaviors. and disney was picking sides on whether florida should pass a law that says you can't teach

sex to toddlers. bob iger said that's horrible. he was in retirement and is back, the guy he replaced came out first, to stand out and not take part, the corporate left and jumped back in. he was pushing to do it. neil: where does it go? how does this proceed? charles: donald trump who is not woke, beat someone who is very awoke, money to be made in being not woke. if you look at budweiser, putting the dylan mulvaney flak back in the bottle, they are still the number 3 beer. charles: neil: companies are still trying. charles: budweiser went to the

trans-woman in a bubble bath drinking beer, now they are in bed with dana white, guys beat the hell out of each other. they are thinking budweiser is thinking of doing some sponsorship. have you seen that? two huge guys smashing each other in the face. charles: a fox show. it is not. neil: is it on tiktok? charles: it is not for the faint of heart. not a fox show. my phone is lighting up. neil: its our lawyers. charlie, have a good time.

speaking of every thing, taking up the issue of its future. what is going on? >> two hours of arguments are scheduled for january 10th, nine days before this potential ban on tiktok could go into place and the supreme court declined to put a pause on this diverse orban laws that could lead to tiktok going dark for users across the united states starting on january 19th. and after that, after january 10th, what we expect is the court could rule on the free-speech issue and whether this law violates the constitution or it could temporarily pause the law and that decision could come within days. the timing is significant,

january 10th, looks like it would be the biden administration, the biden justice department defending this line front of the highest department. and president biden himself signed it, donald trump on the other hand use to be in favor of a ban on tiktok in 2020 but he has changed his tune more recently meeting with tiktok's ceo suggesting at the press conference that he would be open to saving tiktok, the supreme court is hearing this case before he takes office. tiktok said this law violates the first amendment of 170 million american users, put it

into place in the first place saying donald trump could get involved by encouraging tiktok to sell to a company that doesn't have ties to china but tiktok has told us there were no plans in the works to sell. we will see what happens on january 10th. charles: will they make a presentation to the justice system? >> and an interesting thing, people using tiktok will also to make their case. >> this guys an influencer without being an influencer.

people pay attention to get the details. but he could be there. he was way ahead of the curve on that. we will talk to him after this. [coughing]

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>> the whole conversation was about the stickiness of inflation, how to help the american people. you won't be able to curb inflation if you don't do two things, hammer regulations, deregulate this place, stop spending money we don't have. neil: you wouldn't see this today, the dow sprinting along, stopping 9 days of declines in a row but the notion the house is barely keeping attacked to gather, what the speaker johnson face with the most slender majority here and could that torpedo what donald trump

wants to do might rock this bull market. the stock market going up was not an exaggeration, he referred to it as a new roaring 20s. this could be a disruptor, showing how tenuous that is among members aren't on the same page. it could disrupt your market momentum. >> absolutely could. we fed a lot of market momentum. almost feels like the melt up. on the borderline of a melt up given more valuation. i wouldn't be surprised a buyer pool back or a correction early next year. i have been expecting is that anyway because people have huge capital gains in their

portfolios, probably hesitant, they want to rebalance and might do that in january. there could be selling pressure in january and we could have trump coming in with tariffs right away and the government once again tied up over how to get a budget passed. neil: you talk about corrections, a couple instances of that in the roaring 20s but nothing of great note until the final year of the 20s. are you seeing anything like that? >> i have to be realistic about the roaring 20s did end badly and it ended badly in may 1930.

6 to 12 months of a lot of news on tariffs, some concern about the negative consequences, i think we will get through it. a lot of it is negotiation carrying a big stick with trading partners. going into the new year. neil: you mention it precipitates the biggest crash on record. in may of the same year. it is meant to be a cudgel for trading partners. what do you make of that.

>> the president-elect made it obvious he cares about the stock market and uses that as a popularity poll, he understands a big signal of how policy is likely. the secretary of the treasury scott bissett is market savvy. the signal sent by the stock market and the bond market. the mechanism that keeps of them on the straight path here of avoiding a recession. neil: the big powerhouse

looking at the market rate of full point from where we are. controlling marketplace, what if we get a situation they are lowering rates. and out of control, then what. >> the fed may be making a mistake here. stimulating the economy that doesn't need stimulating. it is a melt up in the stock market. inflation is turning out to be sticky here as we get closer to 2% and the fed is risking its credibility if inflation heats up.

we don't need a monetary policy again, it makes a comeback in 2022-23 as a result of that combination. i hope of the fed holds back. they may go for 1/4 point today but it might be a hawkish cut by 25 basis points, jerome powell will try to explain that may be it for a while. neil: i get the impression, the cut comes today but they don't want to do it but also doing the market's building and might be uncomfortable doing the market's bidding. what do you think? >> they guided the market to expect that cut. there's the traditional article in the wall street journal that

always appears early monday morning about the fed. the article said there is more dissenters on the committee you are not convinced the fed needs to cut rates. if it's going to happen it will be jerome powell pushing it, not the markets. neil: the roaring 20s, some bumps along the way but -- >> i absolutely am. we will see productivity better-than-expected economic growth, keeping a lid on inflation with more profits and wages rising faster than prices. we are happy days are here again. lauren: 1 the shout see. thank you, good read on all of that. 56 points, don't know if it is all a response to that. ♪

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julie: rates pickup and mortgage demand slips a little bit. it is uncanny. it is a rate phenomenon. a backup of a point or more. he is among those saying of a market can absorb it because it's a new thing you get used to and the underlying economy will support that because rates are moving up. it seems counterintuitive but we shall see. a slowdown in the latest period. want to go to jackie deangelis and "the big money show". jackie: i am jackie deangelis. lydia: i am lydia hu. brian: i'm brian brenberg. welcome to "the big