ackman's letter comes as anti-semitism on college campuses continue.achusetts amhurst student was arrested after allegedly punching a jewish student and spits on an israelly flag fright night. according toes the university, that student was released on bail and prohibited from returning to campus. funding for universities is a talking point on the campaign trail and gop candidate and south carolinastand senator tim scott and nikki haley saying schools that do not combat anti-semitism should not get funding. billions of dollars are potentially at stake. harvard received more than $3.1 billion in federal payments like garages and contracts over a four-year period. university of pennsylvania received nearly 4 $4.4 billion and now universities also benefit from tax breaks that save them billions of dollars in payments every year. that's according to open the books. we've heard from gop lawmakers saying those tax exceptions should be evaluated too . stuart: i wonder what will happen. >> yeah, it's a bit complicated here, but there's a growing call to evalua

ackman has money on it. me and mike mckee don't. so you've got to listen to bill, but markets priced for a full cut by may now. so first quarter would be pretty aggressive. guy: this is a debate in the u.k. at the moment. the market is pricing cuts. the bank of england is trying to push back on that. it is trying to push back on it. where is the fed on this? does the fed need to signal that it is comfortable with current market pricing? does it need to confirm current market pricing? at what point should we see this divergence closing? liz: the fed, history shows they don't like to surprise the market. you know, we have asked this before. if the market goes so crazy on cuts, which they are starting to -- if they are not happy with that at all -- we had the fireside -- we have the fireside chat with pebble on friday. you would think there would be some kind of pushback to say there is a lot of risk that if inflation does not come down,- i mean, powell has said we are not talking about cuts. just the math of doing it is -- like waller

bill ackman has given a big interview to bloomberg.key takeaways from that is, he is saying the fed could cut by the first quarter. the market reaction we are seeing based off the fed being done with its tightening cycle is coming through with a softer dollar. yields continue to retreat but led by the front end. stocks position for a day in the green. the rbnz is in focus, as its rate decision is coming up in about 90 minutes from now. we expect policymakers to keep the key rate on hold at 5.5% for a fourth straight meeting. all the economists in the survey are seeing that happen but it comes down to the messaging. we could see the rbnz pushing back haidi: still ahead, we will look at oil, and a dead lookover output levels. and the fed may be at peak rates. this is bloomberg. ♪ the chase ink business premier card is made for people like sam, who make- everyday products, designed smarter. like a smart coffee grinder, that orders fresh beans for you. oh, genius! for more breakthroughs like that- i need a breakthrough card. like ours! wit

ackman, though, he's blaming social media for what he says is amplifying the hate.- he also sites -- cites a poll that shows 51% of the tiktok generation believe hamas' barbaric acts are, quote, justified. remarkable. stuart: thanks, ash. have you ever thought skipping on a tip for your doorcash driver? it could affect how fast you get your food. we'll tell you all about it. >>> a federal ruling in the real estate market could be a game-changer on how people buy and sell homes. it's all about the commission. jerry willis breaks down the numbers for us next. ♪ you act like you don't want to listen when i talk to you. ♪ you think you ought to do the, baby, anything you want to do the ♪ ♪ tourists tourists that turn into scientists. tourists photographing thousands of miles of remote coral reefs. that can be analyzed by ai in real time. ♪ so researchers can identify which areas are at risk. and help life underwater flourish. ♪ municipal bonds don't usually get the media coverage the stock market does. in fact, most people don't find them all that exciting. but, if you'

that is one thing that bill ackman addresses in his letter.udine gay made her tepid statement, she said this has been a problem for years. it's not true. she took over as leader a month before october 7. this was her opportunity to shine as a leader. i think it's a message for every business leader, for every university leader, you need to have complete intolerance when it comes to anti-semitism -- >> neil: maybe it was there, samantha and it took an act like this to bring it out? i hope that's not the case. there might have been this anti-semitism beneath the surface, an incident like this brings it to the surface? >> i think that's a very good point. i'm sure there was bubbling anti-semitism that was not as overt. the terrifying thing about what we're seeing in america post october 7th is that it's now become acceptable under the guise of free speech to speak out against jews. we would not accepted this if it was another ethnic group. when you're running a campus or company, you are in charge of keeping your clients safe. in this case, it's

all right, bill ackman saying there will be a rate cut in the first quarter.e is betting big on it. wall street jumped on the bandwagon. where are you on this? >> we have to ask under what conditions? we know the fed signaled a willingness to do a little bit after insurance cut, but that is 25, 350 basis points,. charles: >> that is different than the 100 basis points the bond market is pricing in. that 100 basis points if they deliver it, likely under more recessionary type conditions. charles: if they go march, wasn't long ago we were talking june, may, if they go march, does that hint at an emergency? >> possibly not. they have been talking about the idea if inflation falls it gives them room to ease policy. the question is, if they ease policy could that spark inflation to reaccelerate. could you sigh the dollar weaken. could you see commodity prices move higher. importantly those financial conditions, markets going up that could spur a big rally, and does that is that something the fed doesn't want to see. charles: right. i had a list of things that the f

and billionaire investor bill ackman.t's now believed a potential rate cut could come in as soon as the first quarter. with more on this, let's bring in vince. good morning. >> good morning. >> what do you think about seeing cuts as soon as q1? agree or disagree? >> agree. that's kind of the perspective we've had at clough capital right now. we're not sure people can handle the inflation hikes for a long time. the growth issues that are occurring in the economy may cause it to happen sooner than later due to some of the charge-offs and write-offs and delinquencies we're seeing. we think the rates will have to go down sooner rather than later and that puts us in the big ackman camp this morning. >> how does that shape your wroder view of not only equities but also bonds? >> good question, frank. what we're trying to do at clough capital is perform fundamental research. we'retive managers. rewrite now we're in a position to play offense and defense. so despite some of the concerns of the economy slowing, we think there are

ackman and the mediterranean.and success should deal with their shock at our american universities? david: the american university system is still the envy of the world and our private universities are places people all over the world want to attend. many people did not realize how strong the anti-israel feeling has been in the result of that has been outraged by alums. i'm the chairman of the board at the university of chicago and we do not issue statements on political matters and we have not issued one in this case. but other universities have not had the policy and gotten in trouble. it's a difficult way it's a walk this fine line. tom: a glorious day for bloomberg surveillance with doug cason howard marks in remembrance of charlie munger. talk about berkshire hathaway? david: charlie munger was from omaha and moved to los angeles and reconnected with warren buffett. he had worked for his grandfather in the store once. he was an outspoken lawyer who transition from lawyer to investor and his track record was b

the ackmans and the wallers of the world? we have to juxtapose that with what james bullard told "the claman countdown" yesterday about the recent restrictive policy. >> we are seeing the fruits of that policy as inflation is coming down. we are in good shape for a soft landing. liz: the fresh gdp report signing with bullard reinforcing the story of a resilient economy, second read on third-quarter gdp showed up 5.2% level of growth versus estimates of 5%. last month, 4.9%. tomorrow we get the fed's favorite inflation gauge, the personal consumption expenditure number for october. that is the data that will give investors the best insight into central bank's next move. joining me, teddy weisberg, let's show everyone the top gainers as we kick off the final hour of trade. we are from different sectors. you've got software, salesforce, intel, technology, goldman sachs, american express, nike, retail, visa, credit cards. to we care to make a bet why the market seems to like everything if you look at the dow 30. >> the fact that

what is different now from ackman?at harvard and other schools are now being discriminatory by allowing these demonstrations and not taking action. to him, it is a civil rights issue. the schools could lose federal funding because they are now allowing an unsafe environment for jewish students. billions of dollars. federal dollars potentially at stake here. >> such a disgrace. an absolute disgrace. jon huntsman, they have donated billions and hundreds of millions of dollars. he has not even jewish. he is more men. he is very unhappy about all of this. as we continue to watch us, thank you. college campuses continue to grapple israel must now grapple with iran's ever-growing presence in this war and pressure from countries around the world for israel policies fire. the biden administration says it is not one of them. the white house announcing today plan to send $320 million in weaponry to israel. that according to the wall street journal. national security council coordinator john kirby confirmed the united states cont

elon musk, bill ackman. bill ackman is not on the biden brand right now, and bob iger.e can get some democrats and some big with democrat money to come over to her. stuart: i think what he was trying to do was to swing american business away from trump and towards someone who might be considered more moderate, nikki haley. up lauren yeah. stuart: swing american business in support of that moderate because he may like trump's policies when he was in office because we had a very successful economy, but they don't want that chaos to return. lauren: i saw the same outcome but a different take. i thought he was trying to take money away from the bide incorporate donors, the big money that is -- corporate donors, and swing it to a mored moderate republican like nikki haley. stuart: maybe he was. lauren they're final point, vivek ramaswamy's political director spearheaded everything that vivek just did in new hampshire, he's moved over to the trump campaign. tooth i wonder how long vivek will stay in the race. we'll see. now this, bill ackman says biden should drop his 2024 ca

>> just going to that quote from ackman, think it is really unlikely, non-recessionary rate cuts. let's just say the economy goes into a really nasty recession now, a severe recession now, then maybe you could get a rate cut in early 2024, but outside that, the possibility is very unlikely, we need a recession before we even think about rate cuts. rishaad: 15 years of essentially zero interest rates, and we have perhaps a cleansing process to go through. >> what i'm saying is we need a recession if we want to kill inflation and return to price stability. this is the thing that people might not quite get, which is, at what point can we declare victory against the war against inflation? a lot of people say once we get close to two, we drop down. i'm saying no, that is much to early, because we've had a massive overshoot of inflation versus the target, not only magnitude but length of time. we do need a degree of undershooting. two is not a victory line. if you say we bottom out at two or 2.2 or 2.3, then by definition, the historic numbers going to be rising above two. that's one of

. >> carley: long statement by bill ackman, he said we need to know the names of these protesters.forefront of speaking out in the business world and college campuses. >> todd: you saw the law firm letter last week, the white shoes law firms. if you get a job there coming out of harvard or yale, you are set up to become very successful attorney. those law firms said no more, we will not do on-campus recruiting, if you continue the policies. that should be a wake-up call. the job of president, your job is fundraiser, for the presidents to misread the tea leaves is shocking. >> cheryl: harvard, yale, west coast schools, as well, it is shocking to me. >> carley: totally, sorry to cut you off, i just want to say, reminded of an op ed i read talking about how hamas infiltrated college campuses and it was calculated. they are say whatting is happening to palestinian is similar to what happened to george floyd. they talk about progressive messaging and know who they are messaging to. it is a calculated efforts. >> cheryl: i read part of that. ackman, it is a huge letter, he does say if th

earnings up 40% this year with the record cash pile of $157 billion. >>> harvard fund manager bill ackman alma mater with the letter over the anti-semitic rhetoric. >>> and lvmh is buying eyewear maker barton for $80 million. >>> and mark zuckerberg undergoing surgery to repair a t torn acl. >>> and elon musk showcasing grok. the prototype is only available to a select group of users before the wider release. >>> here is what to watch, credit card numbers are out tomorrow and consumer sentiment is out friday. earnings season is slowing down a bit this week. 50% of s&p is reporting including disney and warner bros. and softbank. and the dow and s&p and russell and dow transports are on a five-day win streak. all posting the best week of the year. led by an 8% gain in real estate. let's bring in the strategist at pro shares. simeon, good to have you here this morning. >> good morning. >> big rally after the pause last week. it was after the pause and does that continue this week? >> i think we are running out of steam with regards to the impact of treasury yields. the issue there is we norm

bill ackman, a great investor, called the top just about perfectly. the biggest risk for him is that he's early. great investors are typically early because they have to go some place where others aren't seen yet. so i think it will be early in the first quarter rate cut. >> steve, you mentioned something about the economy saying stable, strong right now. first i want to go over to other comments from jamie dimon at the deal book summit. he said in part -- we're not going to show a quote or play a sound bite -- but he said, be prepared. rates may go up. the ten year specifically. he believes the odds are higher than other people believe, that we're going to have a recession, as you can see here. we do have the quotes. i misspoke there. joe, i want to come over to you. >> everyone has their own personal opinion about how deep an economic contraction could be in 2024. i think we could all agree the trajectory for economic growth will certainly be lower from what was reported in q3. i really believe what's important for markets is the communication tool

bill ackman another billionaire out of harvard.age. >> i think the issues are incredibly complicated. the underlying issues, the israel/palestinian situation. the issue of free speech on campus is not. certain speech is not protected speech. if you incite people to harm others by your words but beyond limitations under the law, universities, the harvard campus is a private space. it has its own rules. it has its own code of conduct. >> bill: my guess is that ackman probably never thought he would have to wage a fight like that against harvard. but he is and others are, too. are they having any success? >> they are having success. a lot of donors are fed up with what they're seeing. years of refusal by administration of colleges to protect the civil rights of jewish student to be free from harassment and this environment hostile toward them. donors are taking action. the next step is legal action as well. >> dana: legal action, what grounds do you bring? what are the cases? >> first and foremost a hostile environment unsupportable b

bill ackman called the situation dire. in a letter, ackman said the bab bab barbaric attacks several weeks ago call me to believe you will not do anything. he called on law firms last wednesday saying we hire your people and we don't allow this conduct at our firm. you can't allow this conduct at your schools. especially if we are hiring from there. we need you to train our people to have the values we will ultimately have. interestingly, in his letter, he is not calling for the president's resignation or the firing of the president. this is a unique way saying left me partner with you and show you all of the problems that are at hand. by the way, you go on tiktok and inst instagram. there are now movements afoot of people tearing down posters and not just to identify who they are and tell people do not hire this person. they will go to linkedin -- >> people tearing down the posters. >> tearing down the posters, not just tearing down the posters, but a food truck up on 80th and broadway. one of the guys there was tearing d

ackman says he is pro palestinian, as well as pro israel, he's anti-terrorist. league colleges have on their hands if this is going on? >> it's a real problem, john, obviously, and interesting the degree to which the universities has been exposed by all of this, because what you have -- the only way around this, the only way you fix a problem like this is you have to have people not just bill ackman, but you have to have university leaders and it's not just now, not just in the heat of a raging debate like this, but at all times to stand up and take a principled position about the way you have debates and you have to set the parameters of the debates where you have people talking about things that are real, and that things that are true. and you know, we talk about like social media these days is where a lot of people get their information from, and that's a whole pandora's box, obviously, the brave new world, total, and some good things about that and also some really bad things and the example where there was a report on facebook that went out showing that the

i think that i liked what ackman said about these pro-palestinian, anti-hamas.nization. it's -- everything seems, you know, free the hostages. i don't know. look, it's -- i do know they freed the hostages, but i just think that creates an element of gloom that's been part of the bear market that may be running its course. and that's a yardeni view. >> pretty steady open so far. dow is up a point. s&p, 4,360. we'll watch for activities in fixed income this week. for now, yields up a touch as the ten-year, once again, revisits about 4.62%. we'll be right back. >>> take a look at bumble. wolfe herd will be leaving stepping down after a decade. stock has had a rough run down 40% so far year to date. consolidation coming off of last week's big run for the bulls. best week in jt ouusabt a year. stop trading in just a moment. don't go away. all right, sheila, are you throwing a dress like a dad party, a birthday brunch, or a vow renewal for your dogs? yes! the right drinks delivered for any party. drizly. that first time you take a step back. i made that. with your ver

billionaire harvard alum bill ackman pending this letter to the unive university's president writingly become afraid to express their concerns many have felt the need to remove, stars of david and other overt evidence of their religion and heritage on campus and in cambridge to avoid being exposed to discrimination, bullying or worse. let's bring in vice president of communications with the cornell center for jewish living. cornell had a particularly heinous incident. got online and made horrific threats against jewish students. he has been arrested and charged in faces of the five years in prison if he is convicted. but the jewish students there are reportedly terrified. >> yes. when this came out it's pretty is prettyterrifying for all of . but now that we have moved past and the suspect is arrested were no longer fearing for her physical safety but kind of going back to what the letter said from bill ackman at harvard we are still afraid at cornell and other campuses to express our concerns to be outwardly jewish and that something that cannot be tolerated. jon: where'd you go fro

whether phil ackman or the letters, it is not consistently applied. but it absolutely should be consistently applied. there should be decisions that should be made on hate speech. >> i think that rashda tlaib, i think there ask a reasonable place for expelling her from congress. paul gosar was censured for sharing an idiotic and gross meme for slaying joe biden and some of those democrats who have become overnight free speech warriors here suddenly decided that that was entirely reasonable and appropriate, here and you have tlaib, not just about that one statement, it is about spreading a blood label about the idf deliberately targeting civilian hospitals. >> this is -- >> you're agreeing with you. >> and i want to be clear where i stand. i actually don't think anyone should have been censured because i think the censure is really, the bar is very, very high -- >> paul gosar -- >> well, let me give an example. years ago, use mark zuckerberg, he actually said to me, the hot kaufl deniers don't need to lie. i was like, they do. sir and i can't believe y

different high-profile investors warning about the outlook and last week as well, bill gross, bill ackmanas well, jeffrey speaking to cnbc, jeffrey gundlach and he said at this level in terms of interest rates, the current government deficit is really not sustainable over the longer-term. he is saying that a recession is possible or will arrive in the first part of next year. he says the key rate is going to be at 2.5% by the midpoint of next year. jeffrey is someone who is saying that 200 basis points of cuts could be possible over the next few months. quite a bit more than what the consensus is for markets and pricing for three cuts next year, 25 basis point reduction. haidi: thank you for keeping an eye on markets as we open through the next few hours. live, we see past interviews on our interactive tv function, tv . you can go to the security functions we talked about plus between the conversation by sending us messages through our shows. check out itb go -- check it out at tv . this is bloomberg. ♪ haidi: jp morgan is searching for a potential partner to grow its private cred

bill ackman dillion or hedge fund wants harvard to suspend students for the anti-semitic actions on campusout free speech former education secretary bill bennett deals with on the next hour. mortgage rates ticked out a little and the first time in seven weeks falling below 8% on the 30 year fixed economist anthony chan will tell us how little affect the real estate market if at all. that is next. ♪ will will will will. stuart: one hour and 12 minutes have given us a 50-point gain for the doubt in a 60-point gain for the nasdaq, modest gains after the last rally, the autoworkers strike has ended and the actor strike which is ongoing have cost the economy thousands of jobs. ashley is with us how many jobs are we talking about. >> more than 75000 according to data released by the bureau of labor statistics employment manufacturing decreased by 35000 in october and that represents a decline of 33000 jobs in motor vehicles and parts supplies that was largely due yes to the auto strikes. employment and motion and picture recording industries decreased by another 5000 as hollywood actors remained

bill ackman said he thinks the fed will cut sooner than the market expects. granted, there are critics that still believe there is too much optimism. for now, really it's just all the optimism. sonali: there have been and a lot of hopefuls potentially hitting the ideal market into next year. will the market to be receptive to companies looking to go public, particularly, if they are lossmaking? isabelle: whether the market is receptive remains to be seen. remember a rise in interest rates makes equities a morse -- a more attractive source of capital for many companies. for some a rise in interest rates is good and for some it is bad. talking about ipo revival after years of sleepiness it's already something. a trader yesterday was saying hopes of a soft landing is still there. we have kim kardashian's company, reddit, a microsoft backed cloud firm. look at various ipo indexes. it is slightly higher. still not up to its heyday, but the talk is there at least from dormancy the past two years. sonali: thank you for your time. now we bring in galaxy digital ceo m

bill ackman said while musk isn't perfect, the world is in a better place because of him.r u.s. first lady rosalynn carter has died at age 96. she was an influential partner to her husband former president jimmy carter and led a presidential commission on mental health issues read carter had been diagnosed with dementia in may. ♪ kriti: welcome back to daybreak europe. and nvidia's ceo says europe is rich with artificial intelligence expertise and it is developing quickly in france. he made the comment to hundreds of executives in paris. >> ai is developing very quickly in europe. france particularly. as you know, france is the home of the fair ai lab. europe is the home of deepmind, and my friend dennis doing amazing work. europe has always been rich with ai expertise. we have nearly 4000 ai startups that we work with in europe. and for hundred of them are in france. this is an area that is developing very quickly. if you look at the advancement of ai, you can see it in several different pillars. you can feel the action of development, starting with venture capital and st

. >> dana: when big ackman says something they pay attention. >> yes. >> dana: are any of the universities hints of it. some is too little, too late. columbia university suspended palestinian student groups attacking jewish students. we see on campus one side of this debate is masking its faces and committing hate speech and the other side is holding vigils for hostages. the contrast is clear. what i would encourage a lot of these universities to do is start thinking long term. how will you solve this problem, systemic problem for a lot of these places. columbia suspends two student groups assaulting students and saying terrible things for a month. they instantly go on social media and say well, watch our actions. they will follow our words and watch columbia. thinly failed threat. they aren't -- the student groups aren't taking it as punishment. fine for now but stopgap measures. these universities need long term plans to solve the problem of anti-semitism. >> dana: it might not help with president obama with remarks like this. >> take in the whole truth and you then have to admit nobody'

. >> i do want to talk about a tip of the hat to one particular billionaire, bill ackman, did get that in terms of covering. now you've got a supply issue, and there's a lot of people on the wrong side of what's going on. but you know what? they have every right to be incredibly wrong and keep everyone in their chains. >> ackman's been -- said he was worried about the world, which it has been interesting to see treasurys. >> the world doesn't seem like a super duper place, although airbnb did have pretty good international, but there were others. >> outlook. they talked about volatility. >> i didn't like the outlook. new york has really -- they're not -- >> new york crackdown. >> how about the price of hotel rooms up substantially since airbnb was banned for anything other than less than a month? >> they take away supply and look what happens. marriott numbers. supply and demand. all comes back to basic economics. >> and the yen. >> the yen just gets weaker and weaker. we have to go shopping. >> toyota had 9% wage increases. look at south korea, just give it whatever they want. >> we'v

. >> john: i asked the question in that way, bill ackman, of course the big hedge fund billionaire, harvardhas sent letters to harvard saying this rise in antisemitism on campus is something that can't be tolerated, has said he's pro palestinian and pro israel, he's anti-terror and that's what he thinks should be the position of people on the college campuses. you mentioned from the river to the sea, a slogan chanted at a rally that rashida tlaib was at, put out a tweet saying it's only aspirational, drew a strong rebuke from slotkin, saying it's code language for the destruction of israel. you are runnings as a republican, what do you make of the divide in the democratic party? >> i mean, who she's trying to fool, it's a well-known slogan. number two, i mean, these women and the hamas caucus, the hamas squad clearly cannot find it within theirselves to at least condemn what hamas is doing or say hamas is a terrorist group. we are with the palestinian people and we are trying to find a peaceful way to save the victims of these terrorist groups. but would they ever do that, absolutely not be

bill ackman defended him. keeping the theme going.he federal aviation administration says it will oversee an investigation into an explosion and space ads said it was an improvement from the first test flight after multiple engine failures. affiliates held china at has injuries about sonar. the defense minister says the chinese military ignored west's. onshore and offshore markets, the hang seng index and weeks from now is an index of 82 stops, up 1.1% perhaps is why the regional benchmark is that a session high. and it with a market close so speaks a lot about the lack of speaks (car engine revs)ack of conviction, more on (engine accelerating) (texting clicks) (tires squeal) (glass shattering) (loose gravel clanking) rishaad: a solid company. this is a gain of about 27%. that is how we are going into the lunch break. yvonne: we will see if there is a fourth week. quite amiss. private consumption is up. we suspect this is probably the culprit. a percent growth. cash market opens in about 30 minutes. from thailand to taiwan. the questi

. >> i want to point out bill ackman and major hedge fund or wrote a scathing letter to harvard overing down. mark rowe and the ceo of apollo a huge private equity going after penn encouraging to see wall street holding the ivy league to account. >> here's another one born rashida tlaib associates directly president biden with genocide in senator bernie sanders refused to condemn her comments, what exactly did they seem to say. >> he actively defended her despite her provocative comment. >> await on right now is a horror show. thousands of men women and children are being killed it has to end. rashida tlaib is a friend of mine and her family comes from palestine and she's been shaken as all of us about what goes on right there right now we have to address the humanitarian crisis. >> he is jewish. >> is brought up in a jewish household. >> is a leading progressive voice so is not going to go against her but what is genocide deliberate killing of a group of people. who is quibbling about words. >> is a socialist us not forget that. 2021 winner of ms. israel noa cochva is working to cha

i agree with bill ackman i believe the rate hikes or eases are coming sooner than later. james iuorio joining us this morning. a quick break in a major voice in rodlike diplomacy, doctor henry kinzinger that at 100 years old. we will tell you more about it when we come back. stay with us. ♪ i have type 2 diabetes, but i manage it well. ♪ ♪ jardiance ♪ ♪ it's a little pill with a big story to tell. ♪ ♪ i take once-daily jardiance, ♪ ♪ at each day's staaart. ♪ ♪ as time went on it was easy to seee. ♪ ♪ i'm lowering my a1c. ♪ jardiance works 24/7 in your body to flush out some sugar! and for adults with type 2 diabetes and known heart disease, jardiance can lower the risk of cardiovascular death, too. jardiance may cause serious side effects including ketoacidosis that may be fatal, dehydration, that can lead to sudden worsening of kidney function, and genital yeast or urinary tract infections. a rare, life-threatening bacterial infection in the skin of the perineum could occur. stop taking jardiance and call your doctor right away if you have symptoms of this infection, ket

the idea behind that is, interest rates, you know, the bill ackman real rates at 2%, 2.5%, is going to be punishing for the economy. i don't see that. i think the economy can handle 2%, 2.5% real rates. it did before qe, and it will now. and that's why i don't think the fed will see any urgency. >> jim, you talk about this, it sounds like this is a rates going higher is a good situation for the economy, for all the reasons you just stated. the move to 5.5%. but does something break on the move to 5.5%? i mean, servicing the u.s. dealt at 5.5% is a much different environment than where we are now. a lot of things can happen that are bad on that train north of 5% on its way to 5.5%. >> 100% agree. ben per unanimous key in 2019 said economy expansions, which we're in now, or no landing, don't die of old age, they're murdered. and some murder weapon has to show up, whether it's covid a spike in gasoline prices or crude oil, or financial crisis, or some unknown event comes through and murders it. >> so, yes, there are potential murder weapons out there and we can't predict those, but short

. >> i think one of the debates, and bill ackman revealing that he thinks the fed will cut in the first quarter. will he be right twice? he had a really good bet against the long bond that he closed out at just the right time when bonds started to rally. if that's the case, that's even better than the market expects right now. >> i suppose it is. that's the part that gets a little bit tricky. i think if the fed is going to be doing these fine-tuning cuts and it's not because the economy is really faltering, it seems like the first quarter is a little too soon. it's a little too soon to show enough progress on inflation -- >> or enough weakness on the economy. >> exactly. and you wouldn't necessarily wish for the weakness on the economy to be buying stocks right now. it's tricky, timing wise, but directionally, it seems like how things are moving. >> mike, thank you, for that set-up. our next guest is encouraged by fed commentary this week, seeing three rate cuts starting in june next year. a year-end s&p target of 4,700. joining us now is deutsch bank cio of the americas. it's good to h

it is still one of the best-performing stocks of the year billionaires like bill ackman and mark rowenhey start to speak out? we haven't heard from them yet i would like to add, it's easier to be in an iconic class if you don't have consumer brand and shareholders there are many outspoken business leaders and investors in san francisco and in tech, mark andreasen, peter teel these are private investors. elon musk is a brand in and of himself. his companies operate in the public market and among public consumers. it will be interesting to see if those consumers start to act, if this time it's going to be different. >> it's a really good point on the private investors having opinions, although elon has been teflon when it comes to controversial statements i'm curious about the impact on x and what you're hearing. i did get some comments from an x executive saying that their logs, none of these ads ran adjacent to what they are claiming there are screen shots and so engineers are trying to figure out how that would have happened i would think it's a blow for linda yaccarino who was brough

time but secondly when you look and feel the way it was just a trade that was overextended, bill ackmanrade, whenever you see the pendulum swing so hard like that, the expectation and then you have the fed one-two punch talking about the pause, we called on your show with you the pause that was happening and got verified yesterday. that's you're seeing the 10-year at 4.62% and i see it tucking under 4.5% which should continue heard it here first to light up the santa claus rally. >> thank you, santa. appreciate your time as always with kkm financial. >>> we'll leave it there. that does it for "the exchange." the dow up 500 points. for more analysis get my newsletter at cnbc.com/newsletter or scanning the qr code on your screen. shares of affirm are surging after amazon announced a partnership with the buy now pay later company. jon fortt is getting ready in for tyler. i will join him on the other side of this break. ♪ ♪ every day, businesses everywhere are asking: is it possible? with comcast business... it is. is it possible to help keep our online platform safe from cyberthreats? abso

now bill ackman wants him suspended from that position, but what do you make of all of this? generation that's growing up brainwashing washed -- brainwashed, and they're believing things that aren't true. when you have somebody telling you that killing 40 babies including cutting their heads off is not really an act of terrorism, you have people who are seriously out of touch with the real world. and i think it means we ought to have a very serious effort on two fronts. one, taking on terrorism head on, making it illegal to support and help terrorists and, two, really re-examining the entire university or structure potentially including repealing their tax break. why would we give harvard a tax break if it has $40 billion in its endowment and it's dominated by left-wingers who hate america? david: newt gingrich, former speaker of the house, great to see you. appreciate you coming in. >> good to see you. david: switching gears to our southern border and the ongoing investigation of biden family's influence peddling, joining me now is wisconsin senator ron johnson, member of se

like bill ackman are blaming the harvard president saying they are going to pull out the money for thesm, saying the university should suspend students if they are taking part in antisemitic events. he is slamming harvard, saying in part, jewish students are being bullied. physically intimidated, spat on and several widely disseminated videos physically assaulted. and slack messages, antisemitism with memes and messages. dozens of harvard awill you pleases have called the $1 pledge. not give more than a buck to the school because they feel the university has lost its way, and has really had an inadequate response to the october 7th hamas attacks on israel. there they were writing in a pledge that they are committing $one only and for the foreseeable future there. not in sadness, but in hope. >> shame. >> shame. >> just last week, the incident caught on camera at harvard, a jewish student was harassed by a group of pro palestinian protestors. it was reported to the fbi. harvard's president has responded saying the university will not tolerate any activity that violates the safety o

. >> bill ackman was talking to david rubenstein, and he thinks the fed is going to have to cut ratesooner than later. >> he's not the first person to say that. >> he's not. when they said it the first quarter of next year, we thought, are you sure? because we don't all of a sudden see something which is not going to be great. to get us the cut in the first quarter, what does that say about the economy. >> it probably says there's something scary that happened. >> right? or that we slowed down -- the lag and the higher rates really does bite gradually, gradually, and suddenly. a source telling cnbc that apple has given goldman sachs a proposal to end its credit card and savings account partnership, and that could come within the next 12 to 15 months. it means apple would need to find a new financial partner for its new popular card in its high yield savings account under the apple brand. the moves come as goldman sachs retreated from its foray into consumer banking, well known. but, you know, goldman at 337, for all the problems goldman's had, the stock really hasn't performed that ba

a lot of the billionaires, i'm not saying ackman personally on this, a lot of billionaires have beenay because you're seeing the dividend >> eric, thank you for joining us today >> happy to. >> "squawk box" will be right back r goals, whatever they may be. all that planning has paid off. looks like you can make this work. we can make this work. and the feeling of confidence that comes from our advice? i can make this work. that seems to be universal. i can make this work. i can make this work. no wonder more than 9 out of 10 clients are likely to recommend us. because advice worth listening to is advice worth talking about. ameriprise financial. ♪everything i do that's for my health is an accomplishment.♪ ♪concerns of getting screened faded away♪ ♪to my astonishment.♪ ♪my doc gave me a script i got it done without a delay.♪ ♪i screened with cologuard and did it my way.♪ cologuard is a one-of-a-kind way to screen for colon cancer that's effective and non-invasive. it's for people 45 plus at average risk, not high risk. false positive and negative results may occur. ask your provider f

bill ackman's foundation has a stake in twitter he would like elon musk to be one of his partners in going public i'll put that out there for what it is worth. the other thing which is interesting, elon musk says x a.i. and if you bought it at the high valuation, you will be 25 owners of the new a.i. vehicle will the investors make their money back if you believe in yoartificial intelligence and that could be interesting, that could be a viable way to do that. i thought that was worth noting. >> we have more to talk about with all of these stories and more news. >>> when we come back, several data points on the economic calendar for the holiday short trading week we get you ready for what to expect next. >>> you are looking at green arrows across the board. >>> later this morning, treasury secretary janet yellen will join us to talk china, the u.s. economy and much more. you are watching "squawk box" and this is cnbc >> announcer: this cnbc program is sponsored by baird. visit bairddifference.com. te with velvet smooth crema. now brewing peet's coffee. [ "i'll be seeing you" by the f

frank, weu have thehomd about the universities and those people who are defined dig them like bill ackmanleon cooperman you've got to go afteople arer those people becae you perfect out of my brain. yeah, because one of the things i was listening to the segment, i was saying, all these billionaires because are fundine schools for people who are anti hate america. how about taking care of the americans that are willing amerie to give us the life that we have? so, yes, i'm calling theseing people that are pullincareare g of these colleges and these universities to come on board tunnel to towerscoo . see what we do know that wellarr give 95.1% of every dollar raised, goes to our programs livable, and we coulaid get. >> and that's how we're going to get it done by bringing everybody together. i just want to say that.t to s >> great.ay give, jesse, you said you give half your salary h to. >> actually, i said, i give my entire salary. yeah. and it's cheap. >> take the number to see. and when i sai0.d my intolerance i ,i meant your entire generous offer. we know we cover homeless a lot, and it's

the questionrom here is, when do they cut do they cut in the first half, first quarter, like bill ackman market is expecting? do they wait until the later part of the year as the fed is expecting? the exciting part of the next fed meeting is not what theyo, they're expected to do nothing, it's the forecast because they get to have a flu dot plot which is an easy way to tell the market of when they think they're going to cut. so it's thathole like fed versus the market on when the first cut happens. >> they have a great line and say, if in order for core pce to hit the q4 sep you have to have two more prints of 0.5 which is hard to envision. it's definely possible -- >> they overestimated inflation. >>xactly. you might see some forecasts come down. >> their forecasts will come down for that, no question about it, and their forecasts for growth will go up because nobody expected growth to be this strong for this year. i think it's the dots on where they expect interest rates to go which will be important given that market is expecting 100 basis points of cuts next year and that's why it's

there's many reasons why these numbers have come together and my hat's off to bill ackman for some goodalls. >> that was a good call. >> two calls. >> the fall in rates has been significant, to say the least, given what it's been, three weeks ago, we were at 5%. >> we have a number of quarters that reported today. last time, we had crowdstrike, workday, intuit, and whatever multiple you wanted to put on them before this -- by the way, they were all good -- what you immediately say is, i got to pay more. i'm not paying enough. the line of the quarter so far was a neil bush read trying to set everybody straight on workday. he did not lead the quarter anymore. carl did. co-ceo, but still -- >> we're talking about workday. >> he just said, look, we keep hearing about elongated cycles, how hard it is to do business. forget that. it's a different dynamic for every company post-covid. they want to have platforms. so, stop focusing on this notion of, it's hard to do business, and start focusing on this notion that business is great. that's my read-through of his, because the workday quarter of

if you have the likes of bill ackman coming out and making these bold rate calls.ctivity or the levered bets behind some of these moves? jonathan: it is the psychology of investing. it never changes. you get to 5% and people are like sell, sell. 4.3%, buy, buy. lisa: you wonder if things are moving faster with the narrative shift. the markets are the only place where you can buy something when it is full price and you sell it what it's on sale. jonathan: totally. i totally agree with that statement. it is like the sales are on. let's go. markets are like no. coming up in the next hour, neil dutta. why he thinks it is soft landing there vona for this market. that conversation just -- nirvana for this market. that conversation just 60 minutes away. ♪ ♪ (sfx: stone wheel crafting) ♪ the biggest ideas inspire new ones. 30 years ago, state street created an etf that inspired the world to invest differently. it still does. what can you do with spy? ♪ the chase ink business premier card is made for people like sam, who make- everyday products, designed smarter. like a sma

on a contrarian side relative to where the market seems to be, by the way, relative to where bill ackman interest rates. he thinks that the game's not over yet. >> he speaks, people live. >> they do. they do. >> no -- i love jamie. >> yeah. >> no f words. at least in his interview, though, right? >> no. earlier in the day. >> it was earlier in the day. those came later, but -- >> so funny watching the interview from cnbc. if you know cnbc, some are on a direct feed. some on the tv feed. tv feed lags three seconds. so i'm on the lagged feed. talent, get the worst tv. i hear everybody go, oh! what's going on. three seconds later we go, oh. >> then again and then again and then again. >> and again. >> so great. then i belt bad for you. you commented on the civility in public discourse how it's deteriorated. >> i thought about that. we talked about the whole idea of trust. a lot of us comportous in a certain way. maybe we shouldn't. ideas in your head, sometimes said out loud, sometimes they don't. he says it all out loud and you see it all. >> get to why you're here. not just to -- >> go on

interested in the program because many years ago i remember having a long conversation with bill ackmanound a program called a birthright. >> right. >> it was about $6,700 per person with the idea being that actually every person by the time i think you're 62 retirement, you'd be a millionaire. >> correct. >> it was about a $6,200 compounded over time. >> yep. >> this is obviously less money, but he also had these ideas around how you'd do it so that you couldn't actually ever sell out until 62. you had to own it in various mutual funds, could not own individual stocks. so how would this work? >> so there have been, i would say over the course of the last 40 years, a lot of good initiatives. a lot of good thinking on this. they've all failed for certain reasons. baby bonds, senator cory booker has an idea to give certain kids bonds. the problem with a bond is it doesn't appreciate. you don't learn about capitalism. you don't actually own your slice of these companies. it doesn't benefit from compounding. the challenge with bill's idea -- and by the way, i like a lot of it -- the challen