now think knew that blackrock investor class would hold blackrock responsible for making a profit. you invest in a company you want that company to make a profit if you return on your investment or what fink needed was a broader group to whom it blackrock would owe its fiduciary duty that would allow it to pursue social and political objectives. and that group would hold it accountable for. nothing. so fink instructed america's ceos that to show they were making his required posit contribution to society. whatever he would decide that might be, their companies must benefit all their stakeholders, not just their shareholders, but their employees, customers, suppliers and the communities in which they operate. in other words, they had to. they had. they had to benefit everybody. now, seriously, who isn't a customer? an employee, a supplier, or a member of a community, we all fit into one or more of those groups. collectively, fink intended these groups to represent society as a whole. so fink require companies to then serve a social purpose rather than his clients financial interests

agenda although blackrock denied any wrongdoing.rom the bbc sport centre. we'll start with the tennis and the first grand slam of the year is just a couple of days away — the australian open, which gets underway in melbourne. for the defending men's champion, there's still a potential doping ban hanging over him. jannik sinner was initially cleared of charges, but could yet face a ban, after the world anti—doping agency appealed the ruling at the court of arbitration for sport. sinner has been defending his right to play in the tournament, and didn't have much time for criticism from home player nick krygios — who's promised a hostile atmosphere if he takes on the italian. in my mind i know exactly what happened. and that's how i block it, you know? i don't... i haven't done anything wrong. that is why i'm still here. that's why i'm still playing. i don't want to respond on what nick said or what other players said. i think the most important part is

holder of bitcoin is blackrock.couple years after larry fink said it's not a great thing and he's all in and blackrock is all in as well. fascinating stuff, liz. back to you. liz: yeah, they've broken the record and charlie, thank you very much. we have breaking news to bring you in the aftermath or these wild fires in california that are 'til still going on. the los angeles lakers announced they'll be postponing tonight's game against the char lot hornets -- charlotte hornets so this is obviously affecting so many people and so many events in the los angeles area. there's been a lot of people here at ces who have picked up and leave to go home to protect their homes or see if they even have homes left behind in the wake of the massive wild fires. it's been a wild time and we'll continue to follow it on the fox business net would recollect. while the market is closed today, the futures market opens in just about two hours and we'll be all over the marks tomorrow. ashley webster, we've got the big jobs report tomorro

blackrock and rivals in november was sued by 11 republican led state of environmental agendas.rongdoing. luxury car maker mercedes—benz reported its best ever annual sales in india last year. encouraged by performance�*s pledge to open several other dealerships focusing on smaller indian cities. 0ur correspondent is joining us for more on this. what are the sales figures tell us about attitudes towards indulging in luxury purchases? i4541431111 attitudes towards indulging in luxury purchases?— attitudes towards indulging in luxury purchases? well this is very interesting. _ luxury purchases? well this is very interesting. mercedes i very interesting. mercedes happens to be the most popular lottery car seller in the country and it posted record sales of nearly 20,000 cars in the last day which is jump of about 12%. primarily driven by new offerings in cars and also significantly it's electric because segment which appears to have doubled in the same year. at the moment mercedes has about 125 for outlets in the country but they are looking to expand to 20 more outlets. notjust a

let dissect in my earnings announcement, i will talk about blackrock.dollar appreciation, we had a $200 billion evaluation, because of our appreciation. that will play a big role in earnings in the fourth quarter, and we will see how these multinational companies will be playing it. beyond the reevaluation of the dollar that you can't control, i do think earnings will be stronger than what people think, because they believe the resiliency of the u.s. economy. and i think the economy is in very good shape. that being said, is it in too good of a shape? are we going to start seeing elevated inflationary measures? we will know that probably by march. the range is broader. >> i also spoke with larry fink about wokism the politics of the moment, especially as they relate to investing. they left a climate group called the asset managers initiative and blackrock is somewhat of a symbol for principles and a target for those that see the initiatives of having gone too far. it didn't seem like investors were punishing the company for any of those negative percept

blackrock and rivals in november was sued by 11 republican led state of environmental agendas.y wrongdoing. sales of electric and hybrid vehicles broke records in china. sales of electric and hybrid vehicles broke records in china. purchases were driven by a brutal price war and subsidies to encourage from greener cars. cells rose by 40% from 2a making up almost half of all competences. chinese manufacturers saw excellent results in their home market but the prospect of higher tariffs in the us and europe could dent sales this year. luxury car maker mercedes—benz reported its best ever annual sales in india last year. encouraged by performance, now pledged to open several other dealerships focusing on smaller indian cities. our correspondentjoins us for more on this. what do the sales figures tell us about attitudes towards indulging in luxury purchases? which is jump of about i2%. primarily driven by new offerings in cars and also significantly it's electric vehicle segment which appears to have doubled in the same year. at the moment mercedes has about 125 for outlets in the

think who's ceo blackrock. he was formerly at first boston. he serves at the museum of modern art is a trustee that is on the board of directors for the world economic forum in davos. he's on international business council. the business is director. he's a council on the council of foreign relations. he's a trustee at new york university. he grew up in los angeles. his family were, i think his dad, older a store of some sort, but they weren't incredibly. but he you know, he did let's see. he university went to ucla, an mba, then got hired for first boston. his net worth now and he just got added to by forbes this is a billion and he gets 36 billion from blackrock and he 400 and some million dollars in shares from their he donated 50,000 the council of foreign relations a few years back the other the other example is james gorman. he's australian and u.s. he is chairman, ceo of morgan. he worked for merrill lynch, a visa. he serves on the federal reserve bank of new york. he's he's an institute of international finance. he's a partner in new yo

the financialfirm said that its membership had caused confusion on blackrock's practices and invitedber, blackrock and some of its rivals were sued by 11 republican led states over its environmental agenda, though the company denied any wrongdoing. around the world and across the uk, this is bbc news. to venezuela now, where president nicolas maduro will be sworn in for contested, third term later afterjuly�*s election, which the opposition says he stole. the opposition says its leader maria corina machado was briefly detained after addressing protesters who opposed the inauguration, a claim the government described as false. mr maduro begins his third term with a slightly better economic picture. in february, venezuela finally said goodbye to the rampant hyperinflation that had seen price rises peak at more than 400,000% a year in 2019. now annual inflation is more manageable, but still high at about 50%. let's speak now to andres abadia, chief latam economist at pantheon macroeconomics. let's turn —— let's talk about the turnaround on the economic front. what has led to the improve

so this is a huge thing, if blackrock goes there. my guess is they're moving towards going there.hat ask for it like blue state pension funds and overseas investors. but as a discipline that's widely used, esg is out at probably the biggest asset manager proponent of esg, blackrock. as you know, we've had larry fink if on this show. he's spoken passion passionately in the past about the need for esg and sustainability, but even he has cut back on some of his prosthelytizing on this, liz, and they do drop out -- stay tuned, they're not out yet -- it's going to be a big story. liz: yeah. i remember 2018 when he wrote that letter that he really was a forward thinker about it, and he was trying to be ahead of the game. but, listen, the facts changed for him, he bent, he changed. i think that's important for a leader to do. it's a very interesting, interesting development. thank you so much, charlie gasparino. >>> folks, we have some breaking news. we need to take you to georgia where the casket carrying the body of former president jimmy carter -- d.c., rather, d.c., making its way ac

the money management said that they had caused confusion on blackrock and invited legal officials.the environmental agenda, though the company denied any wrongdoing. during the covid lockdown, online dating exploded and apps like tinder, hinge and bumble sky rocketed in popularity. but are they still as widely loved as they were during the highs of the lockdown. a researcher centre surveyed 6,000 americans. and in this week's talking business, my colleague spoke to one of the authors of that report. we do see differences overall when we ask people about their experiences of online dedating. to get into the detail, we explored some of the more negative experiences that people encounter when online dating. and we see that younger women, women under 50, stand out for experiencing these things. for example, they were more likely than other groups to say they'd received unwanted sexually explicit messages or images, for example. another place that we see differences is when we asked people who had been on dating apps more recently how they feel about the number of messages they receive.

and in davos, blackrock's larry fink, the ecb president christine lagarde and others, they speak with cnbc on everything from the global outlook to the impact of who else, donald trump. it is friday, january the 24th, 2025. you're watching worldwide exchange. good morning. thanks so much for being here with us. i'm frank holland. hope your friday morning is getting off to a great start. let's get you ready for the day ahead. we begin with a check of u.s. stock futures after the s&p closed at its first all time high of 2025. the nasdaq and the dow just near a percent of new close to new highs. yesterday's upside moves coming after the president's comments on u.s. tax cuts and central banks at the world economic forum in davos. >> i'll demand that interest rates drop immediately. and likewise, they should be dropping all over the world. interest rates should follow us. >> and taking a look at futures this morning again after the s&p closed at a record high, we're seeing a very slight pullback in all three indices. all three down fractionally. the dow down just about 50 points right now.

the move by blackrock suggest not yet. joining me now is an associate in bloomberg's markets team.ould 2025 be the year that the sun finally sets on coal? we had a reminder that blackrock and many asset managers are reluctant to walk away entirely. >> yes. we are expecting coal demand to have marginally increased and 2024 and we think that in 2025 and over the next for years coal demand will largely stagnate. the peak demand for coal looks to be almost here but a rapid decline from that point is unlikely. in advanced economies coal demand has been shrinking from coal phaseout plans and cheaper gas in the u.s. but emerging markets, mostly in asia, still have strong coal demand. china is still dependent on coal power even with its growing renewables capacity but to be on track global coal consumption needs to fall immediately from today but even then we don't see coal disappearing completely as it will be paired with carbon capture for power regeneration and remains essential for industries like steel and cement. >> the front page of the financial times this morning as the world brea

first, some breaking news out of blackrock.lie picker joining us with that. >> yeah, so i got off the phone with a source who confirmed some reporting from other outlets that mark weidemann is leaving blackrock. he was widely seen as one of the top successor candidates to larry fink on fink's departure down the road. that's not something that has a specific date yet. however, weidemann was head of the global client business there. he has done kind of the whole circuit at blackrock. he led ishares, he was the global head, as i mentioned, of client businesses. he helped stand up their fma advisory business as well. i'm told this was his choice. he has been a long-term veteran of the company, but he -- it's not clear where he is going, what he is doing. but it was his choice to ultimately leave the firm. >> these stories, you never know what to read into it. obviously, in the case of jpmorgan where this morning daniel pinto said he will be stepping down at some point at the firm. is this the end of an era? is it just, you know, he

if blackrock's okay with it, then we must must be okay with it. wasn't always onboard with bitcoin. he came around to it. his opinion changed, and he really did feel that it is digital gold. he said that right on our show here on this set. so how much credit do you give the reputational value of larry fink going into this bitcoin etfie etf, ibit which now has more than $50 billion in assets? >> yeah. it's huge. the fact that somebody with larry's credibility comes out and endorses bitcoin and is willing to go toe to toe with gensler expect sec on it was huge. and then all the others followed. you had 14 if etfs went live at about the same time. liz same time. >> and 7 or so of them -- 10 were the best lawn are. s ever. it's incredible. liz: yeah. i look at that and i said, people said -- vanek has a platinum reputation ooh too, a lot of these organizations. but larry jumps in, it's a big deal. president trump has announced he's putting together the first presidential crypto council. david sacks, venture capitalist, is part of it, obviously, bo hin

this comes from blackrock. on assets under management, huge numbers, a little bit lower than expected, 11.5 5 trillion, still massive, the estimate, of 11 point. . 66 numbers on the s&p positive by .2%. we will catch up with andrew sheetz of morgan stanley ahead of fresh inflation data. james lucier and gerard cassidy of rbc. investors looking for clues on the fed's rate path. andrew sheets of morgan stanley writing we think cpi will see a down taken core inflation and support the case for a marsh fed rate cut. an elevated reading the put that view in jeopardy. andrew joins us for more. lots to get her this morning. bank earnings and data as well. had a big backup and treasury yields over the past month or so. do think we are in the so-called by zone right now? >> yeah, so i think we are pretty close to that. certainly if we take a longer term view, our forecasts at morgan stanley are very much for global bond yields, including treasury yields, to decline. we have more fed rate cut's and our forecast than the m

i thought blackrock would be higher but it's not moving enough.n opens up big so let's see if that will be the pattern. >> let's get to leslie on some of these earnings. >>> lots of news as you were talking about. that jpmorgan call ending a short bit ago. analyst asking jpmorgan executives about areas of vulnerability, rate cuts, and the tariffs. here is the ceo's response on what the macros mean. >> the biggest driver of credit has been and always will be unemployment on the consumer side and it bleeds into the corporate side, mortgages, credit cards. really, it is important for unemployment. that will determine that over time and the second thing, vulnerabilities. the worst case would be stagnay cross the board. >> the first question on the jpmorgan call focused on excess capital which they have a lot. the ceo said it makes sense to store extra capital in the current environment however after studying the issue they have determined they have enough and leave there is a good moment to deploy it at better levels. when asked about dividends, dimon

will be speaking to the invest core executive chairman, the oh mv ceo, an exclusive interview with blackrockairman as well as meta's global business head and the saudi economy minister. that does it for "bloomberg daybreak europe." the opening trade is coming up next. anna edwards and guy johnson will take you to the start of the cash trade in europe. this is bloomberg. ♪ ♪♪ ♪ three little birds ♪ ♪♪ ♪♪ ♪♪ ♪♪ ♪♪ ♪♪ the way i approach work post fatherhood, has really trying to understand the generation that we're building devices for. here in the comcast family, we're building an integrated in-home wifi solution for millions of families like my own. in the average household, there are dozens of connected devices. connectivity is a big part of my boys' lives. it brings people together in meaningful ways. >> good morning from london, i am anna edwards alongside guy johnson. donald trump vows to sign every 100 executive orders within hours of taking office later today, and the president-elect promises to extend the deadline to sell tiktok. the gaza cease-fire holds, three israeli

and on squawk box, after worldwide exchange conversations with the ceos of morgan stanley, blackrock,eywell and liberty global from the world economic forum in davos, worldwide exchange, we're back right after this. >> nothing stands still. not technology, not the market and not franklin templeton. we've been a firm in motion for over 75. >> years. >> always innovating. today we're a leader in public and private markets, digital assets and custom tax management, empowering advisors with solutions to build the portfolios of the future today. franklin templeton, your trusted partner for what's ahead. >> americans are demanding fresh, sustainable and healthy food, a consumer category projected to grow to $241 billion. meat edible garden symbol edible on the nasdaq a fast growing, zero waste inspired food producer backed by patented technology and delivering robust third quarter results. edible garden products are in over 5000 supermarkets, supported by walmart's project gigaton and usda food security g that we get to use every day. >> squawk box live from davos morgan stanley's ted pick

let's ask blackrock's rick rieder. thank you for joining us. >> the employment number on friday was pretty powerful and when you look at the confluence of data, you have an economy that's operating on a strong level. we talkeded about about it a b times on your show. if you look at how the service sector did again and look at the services economy, they're doing well. so you get asked all of the time, where do you start buying rates here? i find long end interest rates still not that interesting. there is a point that you start adding as you get to around 5% on the ten-year and you maybe add a little bit and you have an economy that's around well and you have uncertainty. the fed, and we'll get cpi and ppi this week. you're still operating year on year, core cpi at 3+ percent. the fed is still, you know, in a tough spot unless employment starts to soften. you have rates that will not come down of any significant attitude. >> you make the case that rates are going up for the quote, unquote, right reason. right? >> you tw

how does the appointment of adebayo ogunlesi, a senior managing director at blackrock, help with its has advised many leading companies. i think for openai this point is about signalling to investors openai is serious about growth and has a serious plan for commercialising its ai technologies in a market that is increasingly competitive. what does commercialising their mean? what do we expect openai to do differently under its new direction? i think it is about showing technologies like chatgpt and other models that open a high have developed have viable use cases for consumers, for businesses that are capable of generating a stable long—term revenue stream for openai, despite the fact there has been a lot of attention around openai technologies, they have not really proved that kind of long—term viability yet. we long-term viability yet. we were long—term viability yet. we were mentioning a moment ago the lawsuit elon musk is taking against openai, accusing it of joining up with microsoft in a monopolistic fashion. what are your thoughts on the merits of that case?— your thoughts on

i allow americans compete with blackrock. and i'm going to do that by creating a class of single family home mortgages at 3%. and, you know, if you if you have a rich hunk of what goes on your mortgage, you can get a much better rate because the bank is basing your interest not on your lousy credit score, on your rich uncle's credit. high credit rating. so i'm going to give everybody a rich uncle, which is uncle sam. and going to create a class of mortgages at 3% for single family who will live in that community and work in that community. i'm going to give the first 500,000. the teacher is our most important profession, a neglected and beleaguered profession. okay. so that they can live in the communities where their children are going to finance at by selling treasury bills at 3% tax rate. this is not going add to the deficit and going to allow americans to now against corporations that are buying up all of our housing stock. i will bring the average price of a mortgage onto thousand dollars a month, which is affordable for

it is interesting because that is the blackrock trade in a nutshell. buying the belly of the curve and getting more uncomfortable once you extend out on the curve, which brings me to the term premium. can see here that one of the biggest seen a more expensive tail end of the curve, yields much higher is the term premium for the 10 year is at the highest level since 2015. a lot of this has to do with the costs investors are demanding due to uncertainty for extending a duration when it comes to treasuries which creates a conundrum for the incoming treasury secretary, who will have to figure out how to issue at longer ends of the wall. also speaking of policy, former fed chair has said the fed and the economy will need to remain flexible to rising yields. >> putting policy on serve into the context of where the economy is is where the markets need to be. bond yields can go up not just because of budgets but strong growth and optimism about productivity. the fed will have to do some signal extraction. if yields selloff because washington is running and irr

some of the tax on blackrock, blackrock would never have to vote on a proxy vote anymore, because everyrecord would be notified through a tokenization of equities. and we and it would save more money for more people. it would bring down the cost of ownership of stock and bonds. so those are the type of financial reforms we need, right. >> larry fink, thank you for coming. >> to see us. >> thank you. appreciate it for doing this. thank you. it's gotten colder here. >> it got. >> colder literally. as the interview has gone on i could tell we got we got i think. >> i think it fell five degrees while we talked. so i don't know what we did. >> i don't know why i. >> saw snow behind you too. >> yep. we got the snow. it's coming, it's coming. >> it's 11 degrees here too, so don't worry. you're not you're not. you're not alone. you'd be cold here too. we will be back with andrew in just a few minutes. in the meantime, american airlines reporting results just a short time ago. we want to get over to phil lebeau. he joins us with a special guest this morning. hi, phil. >> hi, becky. robert isom,

though i do wonder what you make of the relatively heavy outflow we were seeing in the blackrock etf that holds bitcoin, whether it was just sort of deferred profit taking into a new tax year, or something else. >> it is hard to tell. and i think with the etfs, it is creating an interesting dynamic which is that someone who sells a blackrock etf doesn't have a 30-day holding period if they buy another bitcoin etf. i think in some ways you can see people doing basis swaps and stepped up and tax optimization strategies and not having to worry about that 30-day holding period. >> right. that certainly would make sense as tax planning and tactical basis. again, on small caps, it feels as if we had these false starts which in terms of the comeback for smaller stocks and many theories fly around as to whether you really need market bond yields to go down, you really need the fed to get more aggressive or look like the start of a news cycle as opposed to the continuation of an existing one. >> yeah, small caps have been frustrating because there have been a lot of rug pulls, especially last

they put in strong results, maybe a bit of the blackrock phenomena, although blackrock was up 6%. >> part of it may be we are just so spoilt to j.p. morgan speed and raise and obviously the valuation there is much higher there for now versus wells, and citi, and bank of america, so that is a little bit of a ceiling on performance, too. but, honestly, i think the investors are sort of waiting to see what the company will do to unlock all that excess capital. the printed something like 15.7% capital, kelly, and that is huge. that is a huge level of excess. and if we are really going to be in a deregulatory type of year, then the definition of "excess" could be even wider even for j.p. morgan. >> so, what are they going to do, do you think? >> i think they are going to grow, grow, grow and that is so funny because the word "grow" is not usually associated with thanks, but given where the stock is relative to books, i think the company's priority is, let's continue to build a moat around this business. the fact that they are the largest bank in the world and they have to hold the largest

. >> because people that advance stakeholder capitalism, blackrock and vanguard, they believe they're you believe in the best interest. when you talk about implementing climate policy or di policy that affect american businesses in the market economy. when enforcing those companies by the way that they both share of the companies into tierney and avoids democracy, it's a threat to democracy and it's a threat to a free market economy it's financial elites trying to take control of the issues away from the people because they don't think that we can make these decisions for ourselves. i think that's a mistake and historically proven to be a mistake in the whole book is about that hope you're reading it. >> great to see you both, thank you we appreciate your time. meanwhile frustration and anger at a boiling point and get california democrat leadership over the handling of the wildfire crisis. i'll be speaking with a ok, noah's going to make a fire. our job is to let him do it...by himself. what kind of wood you got there? gregggg! it is important to challenge young homeowners turning in

and in davos, blackrock's larry fink, the ecb president christine lagarde and others, th s

the inability of kids to purchase houses now as these giant corporations, blackrock, state street andanguard try to monopolize single-family homes. we are looking at a colonial or feudal model rather than the cat -- the classic american capitalism and people are feeling it. they are living with a tremendous amount of anxiety as they live paycheck-to-paycheck. 57% of the people in this country cannot put their hands on $1000 if they have an emergency. and for those families they see the engine light come on in their car and it is like the apocalypse. they do not know how they will pay the mechanic. they start thinking about not being able to get to work, about losing their job and losing the home that they are barely hanging onto. the income, the average income in this country is now $5,000 less than the cost of basic needs, food, transportation and housing. and people are putting that $5,000 deficit that they are experiencing every year on credit cards. we have the highest level of credit card debt in the history, one trillion dollars and we just passed that milestone. and those card

fargo and blackrock leading the way on friday. analysts are expecting a better fourth quarter than last year's results, predicting the estimated earnings year-over-year from s&p 500 companies will be up 11.9%, and revenue growth also up 4.6%. maria had been bringing you all the a details on "mornings with maria," weekdays 6-9 a.m. and catch her this sunday morning on fox news, 10 a.m. eastern time live for "sunday morning futures." she'll be speaking this weekend with wisconsin senator ron johnson, florida congressman byron donalds and the federalist editor-in-chief, mollie hemingway. >>> that'll do it for us here on fox business. thanks so much for joining us and have a great rest of your weekend. ♪ ♪ ♪ ♪ ♪ jack: happy new year and welcome to "barron's roundtable" where we get behind the headlines and prepare you for the week ahead. i'm jack otter. wall street seeing a volatile start to 2025, chief investment officer cameron dawson on what to expect and why mid-cap stocks are now the sweet spot of the market. and later our roundt

we've got bank of america, wells fargo and blackrock leading the way on friday.ourth quarter than last year's results, predicting the estimated earnings year-over-year from s&p 500 companies will be up 11.9%, and revenue growth also up 4.6%. maria had been bringing you all the a details on "mornings with maria," weekdays 6-9 a.m. and catch her this sunday morning on fox news, 10 a.m. eastern time live for "sunday morning futures." she'll be speaking this weekend with wisconsin senator ron johnson, florida congressman byron donalds and the federalist editor-in-chief, mollie hemingway. >>> that'll do it for us here on fox business. thanks so much for joining us and have a great rest of your weekend. ♪ ♪ ♪ ♪

plus the one risk that blackrock's larry fink says isn't being factored into the markets. is he right that continue to lift here will debate and netflix shares are moving higher again today. after that. monster subscriber growth. it is putting more pressure on traditional tv. sure enough cnn slashing jobs today as they restructure toward a more digital future. our analyst tells you how to trade this game of thrones. before that, let's get to dom chu with a look at these markets. and how are we? how are we looking? >> we're looking pretty good right now. we're just about session highs right now. we are about a point away, two points away as i can see from the from the from the board right here from record intraday highs in the s&p 500. that's where we're going to start. the large cap measures at 6098. the session high was 6099. so we're right near session highs right now. and you remember the record intraday level was 6100. so we're just about a point away from setting another record level. so we'll keep an eye on that. but about one quarter of 1%. the dow industrials up ab

. >> blackrock today okay. >> so blackrock is a fundamental position for the portfolio for my chapelg. the way the stock works is it has a big move that it rests big move and it rests. and the overall the long term growth rate of this thing is fabulous. i think it's going to stay that way. i'd like you to buy the stock. let's go to susan in new jersey. susan. >> hi, jim. thanks for taking. >> my call. >> and thank you. >> oh, absolutely. thank you for calling. >> yeah, yeah. >> you guys, thank you. >> shows the. >> national treasure. oh. >> my question. my question is about dlr digital. realty trust. >> okay. i want you to wait till that comes down. that's another stock that got overheated because of the data centers. and we cannot we cannot we cannot get involved with a parabolic move of, of a stock that could go much lower. it's 2.9% yield. i think a 4% yield is probably right for that one. let's go to susan in california. susan. >> hey, jim. >> thanks for taking my call. sorry, i'm a bit. >> of a cold. >> i'm calling. >> about a stock. >> that decided last. >> october to. >> put u

adebayo 0gunlesi — who's a seniorfigure in the financial firm blackrock — will sit on the board of the including elon musk, who was one of 0penai's co—founders. he's filed a lawsuit seeking to prevent the restructuring — accusing 0penai and its boss sam altman of teaming up with its partner microsoft to create an illegal monopoly. earlier, i spoke to max von thun from the think tank the open markets institute and began by asking him what he expects 0penai to do differently as a for profit company. i think it is about really showing that technologies like chatgpt and other models that 0penai have developed really have viable use cases for consumers, for businesses that are capable of generating a stable long—term revenue stream for 0penai. i think the fact that there has been a lot of hype and attention over 0penai's technologies, they haven't really proved that kind of long—term viability yet. we were mentioning moment ago the lawsuit that elon musk is taking against 0penai, accusing it ofjoining up with microsoft in monopolistic fashion, what are your thoughts on the merits of that ca

blackrock has told employees it is cutting 1% of its workforce, part of the company's efforts to realignfter a committed $25 billion for takeover to expand its reach in private market assets and data. the firm says the recent acquisitions will add another 2000 euros this year. jeffries reported profit that soared on the rebounded m&a and a surge in equity trading revenue. net income tripled and a near doubling of advisory revenue. the u.k. prudential regulation authority says plans to reduce bank bonuses will introduce more risk into the financial system. it shortens to the waiting period for top manager bonuses from as long as eight years to five, part of efforts to support the country's growth ambitions. new research about the impact of a eye the banking industry finds 200,000 jobs could be lost over the next 3 to 5 years, by the prophets could jump by up to 17%. a senior analyst joins us. what are the key takeaways? there is the profit upside but a real impact on jobs. >> the most key takeaway is the banks are bullish. if you look at the cost, it proves the point ai is expensive to in

the state of wisconsin was the 12th biggest shareholder in the blackrock etf. shareholder in the ethereum etf. >>> retail investors showing a lot of interest in the space. retail tracking purchasing over the last five days with 3 of 11 in the quantum computing stocks. >>> also, apple losing crown of the biggest seller of smartphones in china. data shows iphone shipments fell 17% in 2024. the largest annual sales decline ever. apple dropping behind rivals vivo and huawei. >>> all three major averages coming off the best day in months after the huge surge in big tech. the dow would open 60 points higher. for more on the trading day, let's bring in malcolm ethridge. malcolm, good to see you. >> good to see you, my man. >> malcolm, how do you see today shaping up? what is your word of the day? >> i know the jobs report last week came in higher than expected and made some investors and analysts fearful that maybe interest rate cuts are completely off the table for the entire year, but realistically, they are probably the same two or three cuts coming into this year