you need something like that as well as an endorsement from jpmorgan, which they got when jpmorgan put $300 million in the continuum. cheryl: hurt. >> yeah. we'll be talking about this a lot in 2025. cheryl: thank you, jon, appreciate it. happy new year's to all of you at home. taylor riggs in for liz claman. taylor: okay, cheryl, this is the last time we're doing this. ly miss it. i want to wish you happy new year, cheryl. meanwhile, welcome, everyone. they're celebrating new year's in dubai at this hour. take a look at that beautiful country, beautiful, tall building there. we're going to be across it all. this is as here in the u.s. we are entering the last hour of trading for your 2024. there certainly was a lot to celebrate. i'm taylor riggs in for liz claman. let's do it. the s&p 500 on pace for the best two years since 1998. you have back to back gains of more than 20%. the top winners in the s&p 500, palantir, vistra energy, nvidia all up anywhere from 350 to 170%. and then there was bitcoin. remember that? it more than doubled. at one point it was up to to $108,000. we're belo

we will talk about the jpmorgan analysts. >> one thing that will affect that sector is the labor marketnd what happens with respect to immigration because many of the people that work in that industry as builders are immigrants, so we will find out. plus, the grinch bots that stole christmas, the same thing we have happening with concert tickets, driving up prices on the secondary margin. this doesn't affect me. >> we should find that out. >> it doesn't affect me. we will start this big week, folks, with the fed. investors are widely expecting a quarter point cut on wednesday. the key question is whether the fed will take a pause after that. in an article out today, "the wall street journal" raises concerns the fed could be going too far, and apollo global management chief analyst says the fed may have to raise interest rates next year. here to make sense of it loretta mester. professor, governor, president, welcome and good to have you with us. >> thanks, and good to be with you, tyler. >> i will anticipate you expect the fed to go a quarter point on wednesday, and then what? >> i expe

jpmorgan sees a coming re-acceleration in the u.s.y drink category and that no doubt will be welcome trend for investors in celsius because shares have been cut in half over the past six months. constellation energy's growth may be written in the stars, bank of america upgrading the clean energy provider to a buy from a neutral, saying constellation is in the best position to benefit from rising demand and upcoming regulatory clarity. bank of america analysts calling constellation energy under valued. so it's up 1.6% today, and they are still calling it under valued with shares up more than 305% year-to-date. and a brand new stock hitting the nasdaq this afternoon, cloud-based software maker service titan opening for trading just before 1:00 p.m. eastern and it popped up to about $101 per share. it gapped up 42% from its ipo price of $71 so with about 44 minutes left to trade service titan is close to the highs at $100.76 with a gain of 42%. this jump gives the company, which is a favorite with the heating ventilation and air conditio

and jpmorgan says the housing market though won't get any better next year.pects a less supportive demand supply environment for u.s. homebuilders in 2025. jpm blames barely any improvement in key areas that drive housing demand. mortgage rates, affordability, and job growth. the firm downgraded d. r. horton to under weight and toll brothers to neutral so down 1.6% and toll brothers getting hit to the tune of just under 4%. jpmorgan is taking a gamble on entertainment upgrading the casino and gaming business to overweight from neutral and boosting its year-end 2025 price target to 27 bucks from 19. the stock right now is at $20.58 a gain of 2.8%. the success of espn bet is apparently the single biggest driver for the sports betting company's stock. a good finish for upstart. that stock hitting a 52 week high, needham upgrading the a.i. lending platform to a buy from a hold and set a street high price target of 100 bucks at $84.92. the brokerage says upstarts balance sheet is transformed given loan sales and debt refinancing. we're going to be talking a lot mo

let's ask joyce chang chair of global research at jpmorgan. it's great to see you. you could weigh in here. i'm thinking back to 12 months ago when one of the talking points looking into 2024 was some huge majority of the world would be going to the polls and the possibility of these kind of sweeping policy reorgs around the world. i guess we've gotten a lot of that. i wonder what you think now the implications are of all of it? >> it's great to be with you. happy new year. well, i think it's still a story of u.s. exceptionalism and what we're seeing is greater uncertainty in europe and that we still have elections that are coming up there at the national level, votes of no confidence. we've had the surprises that have come out in korea as well recently. but, you know, the geopolitics haven't changed the dynamics on the macro side. the u.s. remains the global engine for growth. there's still a lot of reasons why the s&p 500 is going to be favored over other markets. even though we're seeing a less certain and more cautious fed here. so we've seen the electoral uncer

investment banking jpmorgan says q4 revenues up 45%. okay, fundamental support.ut regional banks that don't do deals that are up, maybe pumping the brakes there are trades happening now where i see q1 results that will kind of give me some indication that the stocks are up okay i'll stay with us. it's a lot more -- i think she is right rotations underneath. >> steve, we had a super-sized cut and another cut. i think it's interesting that adam suggests that the biggest risk may that we are closer to the end than just getting going, even if we pause how would you assess that? >> yeah, i think that's right. i mean, look, it's not exactly right to say, scott, that all bets are off there are bets on next year. if you look at the cnbc fed survey, we are still looking at 50 basis points next year. look at the futures market, there is not a ton of conviction around it. it's in the 60 to 70% range. if you look, for example, at the 25 -- december '25 fed funds contract, you will see we are below 4% there is still some built in in terms of cuts. the other a as pekt, adam wa

joined me at post nine is a jpmorgan head of technical strategy, j.p.unt. >> the bond market holds the key to the whole market in your mind. >> yes. we have a lot of macro uncertainty here. as technicians, you follow the trend provided it still looks healthy, which it does. if you are trying to get some kind of foresight and you worry about inflation and reflation and disinflation, we feel that this is the thing to watch. and for right now, it looks okay. like i said, things are constructive. >> if it breaks out of that range to the upside, reading, you could have this reflation affect? >> that would be more on the inflationary side. looking at a tendency to break even. 240, 250. multiple quarters. when the first inflationary panic comes off in 2022 and it is 2023. like i said, going below the area. the most recent run-up we had into an after the election, rejected the resistance again and fell off suggesting inflation expectations are contained in their is no real fear of inflation at the moment. >> so you must be pretty positive on the stock market. >

it seems the president-elect and jamie dimon, ceo of jpmorgan, have a dynamic. with jamie dimon or other big name ceos, what are they offering? what does mr. trump want to get from them? >> it is typically about his main agenda to put america first and do more innovation and improve the competitive situation for america because we have a trade imbalance. he wants to use selective tariffs to help with the imbalance. if somebody has some ideas, whether it is reducing costs or reducing or reducing unemployment or ing employment in the u.s., then absolutely i think the president is open for business and is open to successful ceo, but who has to show up when the topic is hot. it cannot be any other time. it has to be when the ceo is thinking about certain things. as in the case of apple, it was tariffs at the time and tim cook was able to get very good treatment for apple. >> fred, you lead me to my next question. tim cook and peter thiel there with donald trump. a lot of people look at him as a ceo/diplomat. what is he doing right that other ceos can learn from? >>

maybe jpmorgan, blow owl, caterpillar, other industrial names that we love. liz: yeah. and that have gotten extremely expensive. >> correct. but if we see this pullback that's coming starting today, if this continues for a couple of days, some of these stocks will take some of the froth out and set you up for an opportunity the as a long-term wealth -- long-term investor and wealth adviser. liz: what he said about a prices was very interesting to to me. you know, that was a big campaign discussion. donald trump went on and on about how high prices were. he blamed joe biden. prices are the sticky. if you look at the most recent core cpi at 3.3%, it matched expectations, but it was hotter than the prior month, gabriela are. let's listen to what powell said about prices, and then we'll talk about what may be an opportunity for price-sensitive stocks. here's powell. >> what i think people are feeling right now is the effect of high prices, not high inflation. so we understand very well that prices went up by a great deal, and and people really feel that. and it's prices of

that's sounding somewhat similar from what we heard from jpmorgan saying investment banking revenue therehigher. then goldman sachs' cfo dennis coalman also spoke today. he didn't share overt guidance except to say that m&a activity into 2025 is accelerating and normalizing back to ten-year averages. he added there is no reason we can't go above those averages if we sustain the momentum. we will hear from the wells fargo and bank of america ceos in day two of those events. >> leslie, thank you. these stocks moved a lot and moved a lot since the election for all the reasons that everybody already knows. >> fascinating intraday chart of jpmorgan. when the comments came out from the cfo stock popped 3 bucks. it came right back down that $3 because of exactly that idea. exactly, they are up where they're already trading because we expect deal activity and markets, you know, revenues to be strong. it doesn't mean the stories are obsolete, it just means we sort of got there already. >> angelica, what about moderna? >> those shares taking a big hit today after bank of america analysts saying tha

jpmorgan, 14 times forward earnings. all of these stocks are much more appealing.e keep waiting for the rotation you and i have been reporting all year, and it doesn't happen. we've been waiting a decade. >> it's happened in little bursts but they haven't really last for a couple of months at a time. going into next year, the bull case for the rest of the market is earnings growth is supposed to broaden out beyond the very largest stock. whether that's the magic or not -- >> materials up 18% expected earnings growth in 2025. health care up 17% or so. yeah, and these are relative valuations are there. the tracked evaluations are there. it looks like the close rally is still fizzling. it's the fourth day. there are seven days, so it's not over. we're negative here. 59.74 is where it started tuesday morning. we're below that right now. so, we're down. this would be -- if this was down, this would be the second year in a row the stand of close was down. >> it is interesting in the sense that in theory it was supposed to be somewhat predictive of whether the next year w

you have b of a and jpmorgan over a zelle probe. regarding community reinvestment act rules recently modernized. so there is this movement, this push. there has obviously been push back. banking system sees these regulations as being duplicative. diamond said it is time to fight back. he said this at american bankser association event. we don't want to get involved just to make a point. but if you are in a knife fight, you better bring a knife. that's where they are. >> a lot of extra reporting and background on the stress test. we have the perfect guest, the former federal reserve vice chair. what's your reaction to the fact that the banks are taking this fight a notch up with a lawsuit against the fed, their regulator? >> i think it's a little surprising. maybe more than a little surprising. i think obviously the fact that the statute of limitations was looming was a precipitating factor in this. if it weren't that, i would imagine they would keep in dialogue with the fed. the banks have been upset about the capital requirements.

didn't help that jpmorgan downgraded the stock to neutral from overweight, but you know, you're talking clothing. contrast that with rival gap, which shot up on november 22 after it lifted its annual sales forecast prompting jpmorgan to raise the stock to overweight from neutral. gap has suddenly been reinvigorated thanks to a cooler vibe generated by celebrity fashion designer zach posen named chief creative officer back in february but even before that, a co-lab with cult gaya, a trendy clothing and accessory design site set sales afire. it includes the sold out iconic gap sweatshirt, swapped with the word "gaga" instead of gap. joining us now in a fox business exclusive, because i've got one right here, is designer and founder, you can't, it's so cool that you can barely read it. >> we did it on purpose. we like things to be a little bit discrete and subtle. good to see you. liz: the founder and head of cult gaia. i'm really interested in this , because i wouldn't say your brands are similar, if you know what i mean? yours is high end and hip and trendy. >> yeah, thanks so much for h

the jpmorgan down grade was disconcerting but prediction for the future. not a new data point.till, i have to admit i am concerned. there are two things coming up if the homebuilders that i'll be watching. wednesday night, we need to see if they're having some of the same problems as tol. second, the fed meeting. nick pimerus suggests we might get fewer rate cuts than people are expecting. if the fed does anything to indicate had that -- kit that on wednesday the homemadebuilders will roll -- homebuilders will roll over. the trend i described, not lasting forever, right? things that were good, things have gotten tougher for this industry. so keep an eye on these stocks because as long as the bond market refuses to play ball, the homebuilders -- [ sound effects ] they're going to struggle. back after the break. >>> coming up, cramer checks the vital signs of the health care stocks going into the new year, next. is a bitcoin etf the same as owning bitcoin directly? while bitcoin etfs might offer a familiar face, they lack the true ownership and flexibility of directly investing i

you need something like that as well as an endorsement from jpmorgan, which they got when jpmorgan puteryl: hurt. >> yeah. we'll be talking about this a lot in 2025. cheryl: thank you, jon, appreciate it. happy new year's to all of you at home. taylor riggs in for liz claman. taylor: okay, cheryl, this is the last time we're doing this. ly miss it.

dow can winners topping that list, we have cisco systems, boeing, jpmorgan chase, chevron, 3m.the winners there? there's quite a few, brown forminnesota, american -- forman, southwest airlines, united airlines, tesla. the airlines are up by several percentage points. and brown forman tops the nasdaq list. all right, that's what a we have for you. coming up, charlamagne tha god challenges "the view" for defending the hunter biden pardon. >> at some point you get to the place where you just go so i'm just gonna follow the straight and narrow always, because that's what's expected of democrats. >> why can't you say when democrats are wrong? stuart: okay. we'll see what kennedy has to say about that. she's coming up in the 11:00 hour. >>> bitcoin topping $100,000 for the first time ever. it's now at $103,000 a coin. kevin o'leary, we're going to ask if he's ready to sell or if he's buying even more. kevin is next. ♪ i'm looking for a partner, someone that gets things fixed -- ♪ ask yourself this question, do you want to be rich? ♪ i've got the brains, you've got the looks. ♪ let's

i say goldman sachs up 56% year to date, jpmorgan up 44. >> right. >> you're like, yeah, but. i mean, that's just getting started? >> that's just getting started we have had a very difficult environment for m&a, m&a activity what goes with m&a activity? ipos what goes with ipos? trading, trading activity. we are not there yet furthermore, as you start to deregulate, as the banks need more capital there's more available, more risk taking and more opportunity we think it's just beginning to get started, but the other thing to think about is the momentum trade, the face in the momentum trade is financials. if you look at the momentum etf, one of the biggest if not the biggest sector is financials that wasn't true a year ago. a year ago 40% of it was tech. now tech is something like 20% it is broadening out. >> we're going to broaden out our conversation, you're going to put your earpiece back in so you can hear one of our guests because they are remote. we will bring in mike rode of american century investment, iako, i think you heard everything that mr. harvey had to say what do

january will bring the jpmorgan conference that's considered one of the largest of the year and february brings the nba all-star game to san francisco. so there's an interest in building momentum out of this year into the next calendar year. getting union square back on a more stable footing, something that as you heard is going to take some time. >> it would be so nice to see. >>> christmas in the park is asking for support this year. for 44 years this san jose tradition has brought families from across the bay area together. it is a free walk through event featuring animated displays and hundreds of decorated christmas trees, but fewer sponsors mean the nonprofit could face a $100,000 shortfall next year. the organizer says donations could help enhance next year's holiday. >>> food banks across the bay area continue to see record need this holiday season. meeting that need requires a lot of time and donations, which is why second harvest of silicon valley is pledging to triple all donations that come in through midnight tomorrow, which is also giving tuesday. so that triple match is be

consumer financial protection bureau filed suit against zelle operator as well as bank of america, jpmorganhase and wells fargo. the suit claims zelle failed to implement proper fraud prevention safeguards, and that the banks failed to properly investigate customer complaints. according to the suit, bank customers lost more than $870 million since zelle went into business seven years ago. seven on your side has helped many people who have lost money through zelle. if you or someone you know needs help, reach out to us by going to abc7 news.com/7 on your side. better late than never. next, the newly announced date for the familiar sound right there. some familiar faces helped the salvation army's red kettle campaign today. abc seven news reporter gloria rodriguez and sue hall rang bells at san francisco's union square this afternoon. it was the annual celebrity bell ringing. miss san francisco and others were also there. looks like a good time all around. if you want to get into the holiday spirit, we're streaming the yule log again. look for it on abc seven news.com and the abc seven bay ar

jpmorgan on one side, it's unassailable, then citigroup up and wells fargo among the big banks and theyany problems, but they can be fixed and that gets people excited. then you have bank of america which is kind of blah. but when i picked it back in april, i said the stock will do okay. it's up more than 20%, and i think it's going to continue to do well into 20 that. -- 2025. the fed has cut rates and, you know, will keep doing a little bit of that. and then you have trump which is a very good thing for bank stocks. jack: okay. what's one you could take back? sem, and, a company from mexico that picks cement and gavel. i thought this was a cheap way to play u.s. stocks that have high multiples and, boy, i got it wrong. i think the biggest problem is it's from mexico, and that's not a great thing right now. investors aren't looking for that, and it's just not as good a company. jack: all right. elizabeth, you had an interesting pick here. it didn't do so well, but you are sticking firmly by it. >> yes, i'm standing by nike which is down about 2 11th since i -- 21%. inhasn't add -- it h

. >> i think when you look at the price of the darn thing, ahead of the jpmorgan conference, perhapsiting to see where it could bottom and deutsche bank is taking a leap, might be a little too early because there could be one more bad quarter, but it's worth talking about and i think it's good it's better than honeywell which is down 5 because they don't know how to tell the story what a bunch -- really i mean, the gang couldn't talk straight. >> target is 66 from deutsch on cbs. how about tonight? >> tonight is sales. mark seems to not really like co-pilot i think we have to check on that because co-pilot is microsoft and it's not selling the pcs that have it are not selling that well with the consumer. i'm watching that. i'm watching honeywell and just being -- and cry in my beer there because we own it and i cannot believe how the split must occur and i think that elliott, by the way, david, is dead right on honeywell. dead right. >> well, it's a lot of capital they have invested there remains to be seen what's going to be happening. >> the company does not seem to understand they

senator we use jpmorgan chase and we partner with visa. okay, so one of your customers has your credit card. united airlines credit card. american airlines credit card. they go to the retailer. and they use your your credit card. do you have any idea how much the retailer is being charged for that swipe fee? either american airlines or united? i do not. so it's over. you know, around 3% at seven times more than what folks get charged in the european union. and now you are just you make 3 billion, $5 million off of this is just is this a kickback from the swipe fee or did the banks give you money in to that? how does that how does that part of this work? mr. no. well, senator, we don't make $3 billion off it. we take in $3 billion in revenue, but there are costs with transporting the passengers. so in this case, the passenger spends money they earn miles and they later redeem those miles for travel on united airlines. okay. i'm still confused. so you. $3 billion from this. let's not cash. we take in $3 billion in revenue. it doesn't represe

in my earlier days, i worked at jpmorgan running commodities trading oil and gas and power, and investment banking and energy, so i did many transactions with the former trans-canada and much of the canadian energy space. i think that's kind of -- as well as, obviously, the united states and globally. but i think the interaction of the energy sector in north america is intertwined by people, by infrastructure, by ownership, which i think, to a large degree, the private sector drives policy, because of the investment and the commonality across the border, and about the prospects of that coordination leading the world even more than it did in the past is upon us. so i'll talk through that a little bit. i did a paper last january or february at hoover, and i'll be talking through a number of the points here today. it's a large part of my speech, my hoover paper. so you can take a look at that if you're interested in more detail. and my hoover paper was u.s. centric, but diplomacy focused, entitled" u.s. energy super power and diplomacy" and my first seconds was about canada. a little history,

reserve, speaking of fed over annual stress tests the bank policy institute represent names like jpmorganman american banks association chamber, claiming to concurrent practice falls short of goals violates the law what do you say to that. >> they took it on chin, a few years ago, when they had to build silicon valley bank, bailout, middle market banks on chin banks, even more bureaucratic, in fact whenever sue a company, bank at bm-- not so much for bank as for bureaucracy with a they have to do, bank of america, they've because so stringent raise now, supposedly a million dollars, net worth to 10 million to apply certain things become very bureaucrat in ordinary to compensate, for i know, the bailouts they have to have for middle market. cheryl: talking about this earlier, stress test, this came out of the financial crisis with 2009, 2008 understood bad behavior in banks several years ago does it make sense to scale back do banks have a point. >> no i think banks do have a point i think the banks, went too far, and big money set of banks, you know the big money center banks, puts them i

there are dozens of competitive networks that routinely process debit transactions and jpmorgan chase launched a credit card in france with two processing platforms. a quick point. i'm especially grateful for this committee allowing the topic to be debated today. we've repeatedly asked, in fact, begged the backing committee to hold a hearing and they haven't answered our requests. i'll let you all decide why. and then i want everyone on the committee to know this. we did a professional survey of several issues back home. now, this was not a push/pull. it was a professional survey. over 10,000 people returned the survey. what were the findings? not 70, not 80, not 90, 96% of the people on this survey support our credit card bill. 96%. and i have to add, when the opponents of this bill spent over $80 million attacking myself and the chairman and this bill, that's over twice what was spent against me in a senate race. you know that you're over the target. let's be clear, whether it's inflation or sales taxes or in this case, swipe fees, when those go up, consumers ultimately pay the pric

then you saw jamie dimon of jpmorgan do a 180.e would think about working for kamala and said he would stay neutral when those polls change to. neil: not considering it. charles: they have a back channel, they do have a back channel of dialogue that goes on, larry fink was talking to trump. charles: both sides could be pragmatic, transactional. charles: didn't see the numbers. julie: google guys want to make nice, jeff baeza's next week, what do you make of that? charles: he really went after jeff bezos, all about amazon, cloud computing, defense contracts, he was mad at them about the washington post, being in his view very anti-trump, the washington post trying to move dramatically to the center as a news organization. it didn't endorse anybody. that's what you've got. i think -- you go woke you go broke. if you're cooking good food no one wants no one will eat at your restaurant and that is what media is doing, cooking get narratives most people think are absurd that this country is racist and we are bad guys, israel is evil an

jpmorgan, and the $27 price target. there is a positive outlook for penn saying favorable risk reward scenario. salesforce, keybank, top pick for 2025 and upgraded the stock. now 360, stock up 3 quarters of one%. stuart: elon musk want to turn star based site into a city. how does he do that? ashley: needs the county to agree. petition was filed asking for an election to turn starbase where it launches its massive starship rockets into an incorporated city. and the southern tip. and the social media company, from california texas. and the lawsuit claiming phase thegloggle is harming the area, and ashley: the labor fight over automation, and the money saved is no a new the stressed automation causes for american workers. xi jinping rejected trump's inauguration invitation. what does that mean for their relationship. is the collapse of syria and opportunity for regime change? we ask rebecca heinrich next. no. i can do some research. ya know, that's backed by j.p. morgan's leading strategists like us. when you want to inve

there are others outside the money center banks with jpmorgan and citi that you are seeing opportunityf the things we're seeing is asset managers are doing well. you just saw blackrock buy hps. all of these companies are going to really do pretty well in the new administration in terms of the ability to create assets and be part of the whole wealth management machine in terms of acquisitions as well as delivering through the spigot. >> okay. now the point about the interest rate dynamic is also going to be at play as well. we have a big rate meeting coming up. the consensus is the quarter point rate cut. how much does the market need the rate cut and to what degree in 2025? >> i think you have embedded the quarter point cut. the reason is how much for next year? if we still have a strong economy and some type of inflation, i think the growth part of the market will do great. what the market is telling you is we have growth behind it. if things are slowing down, i think you could see a pull back in the market and especially highly valued areas such as technology or the high pe stocks wi

jpmorgan made a lot of money great things -- >> $122 billion company. >> has done a great job. i think he's a remarkable executive and good gardener. >> good gardener >> his tomatoes, his cucumbers in particular. >> i wasn't aware of that. but i've known frank as years as well from when he was at jpmorgan, of course. >> yes. >> interesting pick. we'll show you the stock price a bit later. we have a lot more -- >> we have to go ftc look lu look at that. that is -- you know what, if you bought when he came, you made a lot of money. >> yeah. >> like bitcoin and the younger people bought frank, frank did great, that's the kind of thing people are looking for. >> it has gone very well headquartered near here. >> i know. >> they have a lot of divisions. >> i know they do. >> not necessarily -- we have so much that i actually want to blend in i want to go to 1015 -- >> you saw it yesterday. >> what happened yesterday >> it went over. >> what went over? >> the deal -- >> you're still reliving last year when they cut into "mad money" with musk >> i am not. >> you probably freaked out. >

lauren: record high and it is jpmorgan's top investment pick. willey affirmed after cyber week sales, market researcher finds 80% of cyber weekend buyers shopped on amazon. 86% according to a data company. i can tell you black friday 2023, amazon was responsible for 18% of sales that day. these are huge numbers. stuart: next gen energy has to do with uranium. lauren: uranium powers nuclear plants. they are up 4% after signing deals with several nuclear utilities. this is the market saying they think nuclear is a reliable source of energy demand. stuart: you've got to have nukes to create electricity for these data centers. lauren: they are working on other stuff but none of it is proven or the right price point. stuart: marvell technology. lauren: another record high up 22%. they reported earnings, revenue growth better-than-expected. the reason is demand for artificial intelligence. stuart: thanks. back to this breaking news. we've confirmed through police sources that the ceo of united healthcare, brian thompson, was fatally shot just outside

jpmorgan an upgrading okta to overweight.active as identity security is booming as a bigger priority. >>> time for the global briefing. a mixed economic picture out of china. home prices fell in november at the slowest pace in 17 months in a possible sign of stabilization. retail sales last month came in short of the estimates, rising just about 3% compared to forecasts calling for 4.5% jump. >>> south korea's party voting saturday over the president's decision to impose martial law. the court is deciding if it will be removed from office. the court's first hearing is scheduled for december 27th, but it has suction ix months to mak ruling. >>> moody's downgrades french debt following the collapse of the government. formerly led by ousted prime minister michel barnier. >>> coming up on the show, one word that every investor needs to hear today and the stock pick every investor needs to know. >>> plus, sam altman's elon musk problem and the $1 million donation to the trump inauguration fund may not be enough to some outsized wh

a little confusing and needless to say those in the crypto space and even big banks like jpmorgan tellinistration to clear up the legal ambiguity around crypto and that is what donald trump says he's going to do. stuart: a house judiciary report reveals the biden administration to spy on people without a warrant to. house judiciary chair jim jordan joins me now. was the fbi targeting specific groups of people like who? >> we know they were doing, the government doing this to some americans and spying on others and we know this because the whistleblower came to us and said after january 6th, 2020, one the fbi sends an e-mail to bank of america saying show us the debit card, credit card purchases of your customers in the washington dc metro area on january fifth, sixth, and seventh an overlay that with anyone who may have purchased a firearm or ammunition at any time. without a warrant. we know this is happening at scale. banks are required if they see something suspicious to file a report with the treasury department but the fbi is soliciting the information. the fbi saying give us info

followed by disney and united health and jpmorgan chase.ant to check the bond market as the fed kicks off the two-day policy meeting today. we have seen yields move up approaching the fed meeting. questions about what happens after the meeting. the cme fed watch tool with the 25% chance of a cut tomorrow. you see bitcoin pulling back from the level earlier. trading just below $107,000. earlier this morning, above $107,000. remember, bitcoin trades all around the clock. more on bitcoin's momentum coming up later in the show. that is the money set up. >>> back to the big money movers. we continue to watch shares of broadcom after it soared 11% yesterday. hit an all-time high. it is up 1% in the pre-market. this stock up more than 44% in the last week alone. opening with a market cap well above $1 trillion. that's the expectations. the move coming in contrast to nvidia who was arguably the tip of the spear in the red-hot chip trade. look at the two stocks. broadcom up 50% and nvidia down 8%. nvidia in correction territory. down 10% from the mo

senior portfolio manager jason katz and jpmorgan managing director and portfolio manager phil are rally. it was before the christmas party began. what do you think of this so-called balance. >> so much for holiday cheer. we didn't have a parabolic rebound. i'm glad we didn't see volatility to the downside. trees don't grow in the sky. it's not a surprise we see the fed pass the baton from monetary policy to the incoming administration's fiscal policy. the giveback was healthy. liz: the market was overbought. we had seen incredible record after record, basically the end of last week so when you see something like what the feds said, what do you tell your clients? >> using would be nice to have. we are 10% overweight stocks and today, 10% overweight stocks. 60-40 is 70% out location. liz: any cash? >> no cash. if the economy was interest rate sensitive and you needed this easing for economic growth it would be way up. i'm trying to understand why was the worst day since 2001 but at the end before, they were sitting down interest rate cuts. the fed slowing interest rate cuts. i don't see a

jpmorgan chase, bank of america, wells fargo, morgan stanley all closing down more than 1% in yesterday's session. in the early extended trade so far this morning, we are relatively flat on the session trying to find a bounce back trade. similar story with the computer chip stocks with news of china investigating anti-trust claims within that group and nvidia specifically. nvidia shares fell by more than 2%. amd closing down more than 5%. right now, we're seeing a mixed trade in semiconductors. nvidia down 1.25%. taiwan semi and micron mixed in early trading as well. also in cryptocurrency, bitcoin is pulling back from the $100,000 mark we hit this past week. current price is $97,634. it is up 1%. $1,000 per token for bitcoin prices. we were almost at $104,000 at record highs last week. >>> let's see how europe is shaping up in the early going. karen tso is with us in the early action across the pond. >> dom, good morning to you. on the back of the selling we saw stateside and ahead of the futures declining today, european markets were looking a little bit long in the tooth. don't forget

. >> neil: jpmorgan chase does offer this to investors. it's a weird kind of thing. >> they offer it. larry fink will turn around and tell you forget about that, forget about the speculative nature of it. this is a store of value. whether there is a utility for it or not so that's the two opposing viewpoints. larry versus jamie with neil cavuto in the middle. >> neil: there's a party. let me get your sense. what's weird now, the markets, the dow ended up down. the markets have been doing great. what's weird about this is bitcoin was seen as scene. jerome powell the fed chairman likening it to gold. all the markets have been following in tandem for the most part and normally they separate. you can't be into the safe havens are what you think are safe havens when the regular market is doing just fine. there's got to be a disconnect there. >> may be. there is a trump trade going on. trump trade involves crypto because its less regular asian i'm crypto. buying stocks because lower capital gains taxes are not tax increases. probably lower corpo

leaders on the dow even nvidia, goldman sachs, american express, we've got salesforce moving higher, jpmorgan, united health is even in the green after a very rough couple of weeks but give me a sense of how you parse all of the names that have maybe sold off a bit. i mean, still for the week nvidia is lower. do you get the sense there's some really spicy bits of the market that haven't been picked over at the moment? >> you know, i think there's probably some truth to that. look there's stuff that's been up a lot and its gotten wacked pretty hard in particular the middle of the week as you pointed out a minute ago. i'm not convinced that that sell-off is necessarily over. i think it's not that we're going to go up or down. it's how volatile we the side-wise be, liz. liz: i get it so give us your names. we need a couple of stock names for the stockings that are hanging from everybody's mantels. >> [laughter] well, one i put on the list as you know is low. second-largest do-it-yourselfer. they are having margin improvement. they are continuing with same-store sales, despite the difficult envir

jpmorgan chase is up there, boeing, walmart, amazon.miliar names, all of those stocks up anywhere from a half to 1%. take a look at the s&p 500 winners, why don't we? tesla is there, up 3% this morning. broadcom continues to motor if on, up more than 2%. we also have other familiar names. blackstone, for one, nvidia, of course, up another close to 1%. let's the take a look at those nasdaq winners while we're going through the list. and on the nasdaq eng -- again, tesla, broadcom, amazon is up as well as apple up more than half a percent. there you have it. very muted trading, but that's to be expected on christmas eve. >>> all right, coming up, the white house says pakistan is working on developing a long-range missile capable of hitting the u.s. the question is, how serious is this threat? we're going to ask former state department spokesperson organ ortegas later in the show. >>> progressive congresswoman alexandria ocasio-cortez issuing this stark warning about the state of politics: >> i don't think we're witnessing the start of an

some like jpmorgan and citi expect further appreciation of the swiss nc.urther upside here expected for the swiss franc. that would indicate to you that any moves by the smb today and in the future might not help so much. >> to your point, carolin, we are seeing statements we are ready to intervene in currency markets if necessary. stick with us. we'll return to you in a moment. i want to look at what is happening in rankfurt with the ecb expected to cut rates by 25 basis points. that is putting the benchmark rate to 3%. this is falling at three of the last four meetings with the inflation figure at 2.3%. annette, any room here perhaps to see a surprise from the ecb? some inspiration from switzerland over to frankfurt? >> reporter: no, we are far away from the proactive pproach from monetary policy here in frankfurt because the governing council is -- well, i would say hesitant to surprise the markets and go try to be ahead of the curve. what we are getting is moves like 25-basis points today and perhaps at least a hint of a discussion that 50-basis points

the way the dow is priced is share price so that says unh is more important toys as important as jpmorgan and twice as important as mcdonald's peer coke apple and amazon which is really not true it's just the way the index is constructed. >> all right if we could step back and look at the big picture what you seem to be seeing his luck i mean thanks are steady as she goes the economy which would normally be interpreted as good news we've certainly seen or reflected in companies and how much they are making into your point even with this tend to cell for the dow the other averages are doing just fine. the dow itself is still up north of 50% on the year and other averages similarly doing well on expectations thing we'll be really good with double jumper to the market get ahead of itself here? is it over placing big debts on donald trump and what can or cannot be delivered? we will get into some of the division and fights going on in the house of representatives on this just among republicans. >> the market had moved higher before donald trump and most likely will move higher after donald tr

verizon, american express, jpmorgan chase. the s&p 500, the winners, please.r a while -- super micro computer, micron technologies, pg&e, centerpoint energy on the winners' list. and the nasdaq composite, micron, astrazeneca, marvell technology, constellation energy, advanced micro devices. everybody likes 'em. >>> the 10-year treasury yield back to -- it's down now, 4.18%. that's significant, when it drops below 4.22. the price of gold, $2, 67 72 an ounce, up $13. bitcoin, $93,9000. it had been at 95,000 earlier. the price of oil, we have that pegged at $68.94 a barrel. nat gas well above $3, not that much. $3.13, to be precise. and the average price for a gallon of regular, look at that. all across the country the average price is $3.03 a gallon. but in california you've got to pay $4.40. >>> coming up, biden's pardon caps a long list of false statements from this administration. watch this. >> -- united states ended 20 years of war in afghanistan. the extraordinary success of this mission -- >> he's moving forward with his campaign. >> [inaudible] >> not. s

taking a look at the financials right now in, citigroup, morgan stanley, goldman, jpmorgan, b of a, allthese stocks are moving higher. citigroup up nearly 2%. let's bring in jacob sonnenshein. jacob, which stocks -- let me begin here -- which stocks are on your shopping list. >> oh, yeah. it's time to start looking at some stocks to buy. you just mentioned big tech is really carrying the rally. there's a lot of stuff over the last few weeks has really, really been down. i love novo nordisking, it was the down about 20% in one day because a new weight loss drug that it's putting through trial right now didn't have the effectiveness that people wanted it to have, but it's still pretty effective. you still have two big players, eli lilly and novo nordisk, that are going to sop up tens of billions of dollars in what is a growing obesity drug market. novo nordisking is going to grow earnings 20 percent annually for some time. when you're getting that type of growth in this market, paying 22 times earnings is not that bad. i love novo at this price. ashley: you know, jacob, many, you know, ma

dow winners, there are a few headed by amgen, goldman, jpmorgan, mcdonald's, unitedhealth all on thete -- not dominated, but we've got eli lilly, it's up nearly 5%. there's a good story for you. norwegian cruise lines, of course dissental -- occidental. siriusxm, amgen, broadcom, walgreens boots alliance on the nasdaq. >>> coming up, a vote was expected at 10:00 this morning, that is now in question. the news is coming thick and fast for us. the 10:00 hour of "varney" is next. ♪ if. ♪ mamma mia, here i go again. ♪ my, my, how can i resist ya? ♪ (♪) .. (♪) 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 independence, with that declaration, america was born. inspired by a belief in the god given rights of every human being, and in the good that comes from exercising these rights well. t

we've got post-game analysis with former fed vice chair of supervision, randy quarrels, jpmorgan asset management gabrielle santos, peter schiff, michael larone and much more right here 3:00 p.m. eastern, on the "clayman countdown." americans looking to unload their holiday calories may want to sign up at what jefferies is calling walmart of gym chainings. we'll tell you which company has investors pumped up. and no it's not walmart it's the gym he says is walmart-like and with bitcoin hitting new highs robinhood ceo vlad tenev is here in a fox business exclusive to tell us how many crypto investors are jumping on to his online exchange over the past month and we'll ask him about what sources tell the "clayman countdown" will be a $2 million contribution by robinhood to the trump inaugural committee. it's a fox business exclusive. the "clayman countdown" is coming right back. dow just made a new low down 372. quwe're coming right back. (♪) 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 investi