thankfully we have arjun with us. >> he will join us in a moment.efore we get there, it is key to talk about the price action in bitcoin today. up .90%. silvia, there is an expression in finance is buy the roumor an sell the fact. anytime i spoken to anyone in crypto, they talk about the carrot dangling in front of the community about the possibility of a bitcoin etf. we know there is approval despite the back and forth in the last 24 hours and it will happen. we have not seen any reaction on the price of bitcoin. this was baked into the price. the question becomes what is the next catalyst for the move higher? arjun has talked about bitcoin halves, but it is a well known fact. you think perhaps all the of this is to do with rate cut expectations which is similar to what we see in broader equity markets. >> it is also the question that i have at this stage about what will happen to bitcoin? it seems we are seeing investors paying attention to the next big thing and next etf. will the love for bitcoin dissipate throughout the year? as you mentioned,

arjun is at the conference in europe.ple believe it will hit all-time highs on the back of the new etf. >> i think this is the most important moment in bitcoin history or in the last tempeten years. it is a huge unlock to the space. this is an important moment. >> according to a survey, your portfolio managers have been waiting to add bitcoin and other crypto currencies. etf is the opportunity. now it is approved and once it starts trading, what are you adopting? do you believe it is a certain allocation? what are you hearing? >> yeah, we're hearing huge demand. bitwise is launching bitb. as you said, we heard88% of advisers who said they wanted to wait for an etf to be approved to allocate to that space. that moment has arrived. we heard demand from our cleaned base. we serve tens of thousands of investors across the country. how they will incorporate it will be different across different investors. what we see is a 1% to 5% allocation in portfolios where the volatility but low correlation of bitcoin can be added to the

let's go to arjun at the crypto conference at st.moritz. >> reporter: excitement and then a bit of depression for now is the mood at the camp at the moment. i want to get a thought from fred till, ceo of digital holdings. fred, what was the take for yourself and the industry after the s.e.c. and the approval of the bitcoin etf. >> what happened to the price of bitcoin was very reflective. it was a little anti-climatic. i think we're still expecting some good news today, so we'll see. >> is there anything to suggest otherwise? >> at the moment, no. i think it's basically 95% factored in. what could happen, well, they could essentially delay a little bit further, say that the two different departments within the s.e.c. that have to approve it, one is the market side, the other the regulatory side, there could be a timedelay around that. but i have a feeling they're likely going to approve a whole slew of them this week and move on. >> the big hope around the etf that underpins the rally last year and into this year is the idea the etf

we have arjun kharpal with more on the story arjun, talk about the importance behind the drop in marketaluation for tesla. >> it was a big shock to the system for investors at this point for tesla. we were expecting a slowdown of some sort in 2024, but i think the fact that on the call you heard about a notable slowdown which was a concern. i think also the big story around tesla last year was the fact it was happy to cut prices and sacrifice margin for the sake of gaining market share i questioned it a lot last year. how long would investors be happy with that? it looks like that strategy of keeping up prices low and tesla is having to be forced into that in 2024 because of the broader slowdown in the market it admitted demand is weakening. i don't see much scope to up prices significantly again as it continues to invest in new production for whatever generation vehicle comes next, those margins will continue to be under pressure. that turn around in margins is unlikely to happen in 2024 not only is it the fact that volume growth will be slower in 2024, but i think also the margin pict

surprising after the tesla report arjun kharpal, thank you >>> time for the check of the top corporate stories with silvana henao. silvana. >> good morning, frank we are watching shares of boeing making another sharp move lower this morning after the faa put new limits on the company's 737 max jet production expansion plans. the agency said it will not agree to any new requests from boeing for expansion and production or approved additional production line force t lines until we are convinced the problems have been resolved. the news has a small sigh of relief with the other airlines will return to service as soon as friday. >>> shares of paramount global popping in the pre-market. sources close to the matter tell cnbc that sky dance and backers are exploring a deal to take paramount private. sky dance has exchanged preliminary information with paramount, but full due diligence has yet to begin it will be national amusements which controls 77% of the paramount voting stock and sky dance merging with paramount. >>> and hpe hacked by the same russian intelligence group that compromised m

arjun joins us more. why are we still saying magnificent seven?t is more like a sizzling six after tesla. >> absolutely. >> that set the tone last week. what should we watch out for with microsoft and alphabet? i guess a.i. >> it will be different angles. microsoft has been able to make money off a.i. and proven that. that has helped growth in the cloud business and they continued to launch new products. one focus for investors is around the product called copilot. $30 a month. that helps people use word with a.i. a.i. features. if the hype will continue as businesses to spend on cloud is the theme for microsoft. the question for alphabet in a.i. is how will they compete. they launched bard and the platform, but their core business is facing challenges from microsoft. search with microsoft and bing and generative a.i. is facing challenges as well. of course, the cloud business. google is a distant third behind microsoft and amazon. can google catch up? that is the big question for google and alphabet which is how they catch up and compete. >> arju

especially in the u.s. >> it is arjun here.here has been a lot of spec ta ulation for tesla and the talk of the mass market cars at a cheaper price point than the model 3. how big a deal is that for tesla? do they need to push into the price category at this point >> it is very important. especially for a lot of investors who are not in it for the car story. obviously, that is important for many folks for me, it is important. my view on the stock is 90% based on autonomy. you do need to get a lot of teslas on the road to get fsd in them you need that. we forecast 3 million of those vehicles that the lower priced one per year being sold versus 2 million of the other cars. it is very important i think the comments on the call were actually consistent with what they have been saying back half of 2025, they will be produced and hitting the roads in 2026. they are important i think we have to take a bigger picture view and realize how this company views the world it is very tactonic. it will be a great way to get fsd on the roads fs

moritz, switzerland, is arjun kharpal.. >> reporter: many on the ground said they were at dinner and drinks and saw the etf had been approved. the champagne was poured, cobs popping. five minutes later the cork was popped back in. you saw bitcoin spike. i think it underlines the market is still very excited about this product. they're still bullish. they think it will be approved and they think the etf will bring a new wave of investors into bitcoin and a wave of large ins sttitutional investors. that's something known as the halving. it's a technical event written every four years. this is when rewards are given to miners, and it's slashed in half. they slide it into the market and keep an eye on inflation. in the past when we've seen halving, bitcoin has often followed a big bull run to all-time highs. the question is does this happen again in the cycle. i spoke to many people this morning and over the past few days who said it's almost certain that bitcoin will hit a new all-time high above the $69,000 level set previou

arjun, thank you for latest on apple. >>> we'll take a quick look at u.s.head to the end of the session. yesterday was a bit of a downday for the majors. keep in mind with the nfp numbers come. this after softening jolts data suggests that job openings are dli drifting lower. there is a sign that the jobs are weakening in the u.s. all positive today. ev that is it for our show today. i'm joumanna bercetche. "worldwide exchange" is coming up next. stay with the channel. we will bring you more data and market developments when they happen. thank you for watching. ♪ ♪ ♪ ♪ ♪ ♪ >>> it is 5:00 a.m. here at cnbc global headquarters and here is your "five@5." >>> we begin with the santa claus rally. futures pointing to modest gains at the open and not just big tech, but another of the names you know getting hit hard. all of the more reason for the big idea for q1. it might be the best one yet. >>> the u.s. and allies issues a final warning to the houthi rebels

our arjun kharpal joining me from london with both. good morning. >> good morning, frank.o set the context here, microsoft and alphabet set a high. there was little room for disappointment for both companies. alphabet ended out the worst of the two. microsoft posted its most positive growth since 2022. cloud, meanwhile, was a bright spot with 2.6% while google attempts to catch up with microsoft and amazon. speak ing of microsoft, that i beat on the top line. more or less in line with the market expectations while azure revenue, which, of course, was closely watched was up around 30% year over year. the company says ai products boosted azure revenue by 6.6%. microsoft shares were around 2% -- down around 2% premarket. not as much as alphabet. investors talk a bit of a breather. perhaps it also signals a little bit about the way investors are thinking about the ai narrative around both companies. microsoft clearly intact and investors looking a bit more at alphabet for answers about what ai means for business going forward, frank. >> you're mentioning ai. it's big for alpha

. >> it is timely that our good friend and colleague, arjun, is speaking to brad garlinghouse.et's listen in. >> the u.s. s.e.c. had a post on the x account on tuesday, the 9th of january that said the bitcoin etf was approved and then said the account was compromised. the day after, they approved what they hadn't approved. they approved it on wednesday the 10th >> you realize, if you were a public u.s. company and that happened, the s.e.c. would be i investigating you the next day >> what do you make of that? >> i don't know. this is not the original conspiracy theory, but was the account could mpromised or did someone post something premature? did gary gensler lie if the u.s. s.e.c. was a public company, that transparency would be there and the irony of the s.e.c. demanding transparency from those that regulate and not providing transparency about its own activities shocking. >> x did say the s.e.c. account did have two-factor a authen authentication the phone number was come compromised. >> it is required by the s.e.c. by their policies. they were supposed to have it on >> t

we heard arjun speaking about netflix.t are your expectations for what tesla is going to say later on today >> the good news is they reported deliveries three weeks back just as a reminder they reported 485,000 vehicle deliveries in the quarter, 20% up year on yar over year. i think there are two big areas. one is vehicle demand and the second is the operating gross margin what's that impact going to be on the gross margins going forward? on the flip side we've got some supply chain improvements, some easing which should help tesla obviously the geopolitical situation around the world puts that at risk. >> we did see them announcing e they had to stop production because of the tensions. i would like to get your thoughts on competition from china. how can actually tesla fight back that competition when it comes to chinese ev makers >> it's china. it's only a quarter but still notable byb shibhed more teslas last quarter, so that's going to be something that's notable. i think there are a couple of other challenges one is el

he is the manager arjun israel in a sense, given his many political issues and all of the various interestsing to please. he is the prime minister, so they have no choice but to keep trying to talk to him and go along with what they are suggesting. >> they are clearly pressing ahead with a perspective peace plan. they sent to the middle east coordinator to the region today. he is in cairo. axios is reporting in the last few minutes that israel is proposing a two month pause in the fighting in gaza for the release of all hostages. where do you see the difficulties in these discussions at the moment? >> look, i think the question is do you go along with the demands of ham or not? some of the proposed plans that have been reported are the basically hamas said we will give you these hostages if you basically pull out and leave us in charge. for netanyahu and the others, that is really not acceptable because pretty much everyone across the israeli political spectrum believes that hamas has to be completely defeated, even if there are some now who are saying maybe that is not a realistic goal. it

what many arjun times are saying is, how long can we last, how long can we stand this a country that's already has 3 digit inflation. the. the current seen was divided by 187 percent when president really took over just recently. it'll be just a month in a couple of days since he became president and many, many more hardships. thorough expected before as he says, things get better. so people say that for now they're going to give them the benefit of the doubt. how long that will last? there's another question. all right, me to leave that for now. thanks very much, said lucy, i knew and reporting think, you know, is parliament has approved a plan to allowed things he mind, you know, if it's coast under the plan, the country will lease rights for underwater exploration to commercial mining companies. opponents will not could endanger the environment for support as a mining will reach minerals necessary for green technologies. monitoring available as an oceans campaign and massage or at the environmental justice foundation. he says a d. c, mining poses a huge trip to the ocean of the nerv

arjun, thank doctor arjun singh. arjun, thank you very much for joining me.ding with junior doctors to get back in those hospitals. we've had critical incidents announced in nottingham . some hospitals are nottingham. some hospitals are under acute pressure. why a junior doctors not returning to work when patients lives are clearly at risk . clearly at risk. >> so there's a few things to say in terms of the derogations and the critical incidents we have an agreed process with nhs england and we meet with them four times a day to discuss patient safety matters. we actually agreed the derogation process before the first set of strikes, and it requires openness, it requires honesty and it requires trust to have exhausted all possible options before calling for derogation , before calling for derogation, because they are, of course, a last minute resort. so that that includes , uh, reallocating includes, uh, reallocating staffing , incentivising staffing, incentivising alternative staffing . what we've alternative staffing. what we've seen, though, is that trust

with rare exceptions arjun times have bought, sold and saved in us dollars for nearly half a century to offset repeated evaluations and inflation. this is circle that the new government vows to break with a brutal fiscal. the adjustment is down, you know, i, this year the government will not print any money to cover the fiscal deficit. in the next 3 months. there will be hyper inflation as subsidies disappear, followed by a steep recession. the government's objective is to achieve 0 inflation by december . right now it's hard to imagine. next week public transport and window site is will go up. 45 percent. low salaries remain stagnant. those who voted for president, have you had me ladies say they knew his cure for their economic clothes would be extreme with many on shore of now is whether they can withstand the medicine, see, and human algebra window site is the federal aviation administration in the us has lost a full more investigation into the buying 737 max 9. that follows the emergency landing of an alaska airlines flight last week. often emergency door fell off mid flight. th

an op appears to be a response to the we sense or try the groups attacks against iranian border of arjun? it was still and then back to just on pro i switch or stack is that way, december last year or the jewish war and a go to old event in the morning. a board of ours, a windows 6 others by attacking another check point in roster. journey short oddly, it's fully to be no issue. so the formidable jumped the locker room with my eyes to demonic ricky doors. capture to execute it. it was back in. wait. uh it was of yours, the treasurer of has intensified his operations against your wanting to cease found him better just found college to the group that was struck by here, ron calls itself the army of justice and was founded over a decade ago. it's claimed responsibility you for a pair of attacks and iran, which killed $84.00 civilians this generation and 11 police officers last month off of a december attack. your ron one is that the group will be punished. we asked the government of pakistan to protect its border, so not allow terrorist groups to build nests in this country. the perpetrator

op appears to be a response to the we sense or try the goals that actually gives iranian border of arjun. it was see style number of just on pro i switch for stack is that way, december last year or the jewish war and a go to old event in the morning of board of ours that windows 6 others by attacking another chick point in roster. journey short oddly, it's fully to be. i know i'll shoot over and we'll jump the locker room with my eye to demonic ricky doors captured or executed either one back in wait, it was of yours. the gesture of has intensified its operations against one of the seas found in battle just found holland. the group that was struck by ron calls itself the army of justice. it was founded over a decade ago. it's claimed responsibility for a pair of attacks in a ride, which killed $84.00 civilians this january and 11 police officers last month. after the december attack. you rand, ones that the group will be punished. we asked the government of pakistan to protect its border, so not allow terrorist groups to build nests in this country. the perpetrators of this incident wil

so it's name is a mouthful, the starting point law for arjun times freedom or the on the bus law for short. congress has now debating its $633.00 articles aimed at transforming argentina's current welfare states into what could become the world's most regulated free market system. this means that if, even if they side, yeah, this is a fundamental and necessary steve to of, to come out dick it in situation. if the lord is not approved, it will be unpredictable consequences. it's economic and social shop therapy allowing president to have you had relate to reduce pensions, privatized health care, some real estate companies, reform, electro and labor laws. even the right to strike. there's even an article to apply to the judges to wear black robes, and use a gamble to open and close the court ceremony. of this under the umbrella of a state of emergency that would give the president extraordinary powers to basically bypass congress for up to 4 years. mean a who likes to painted itself as a kind of lion chain has said that in the democracy of president is like an amber. and that is exactl

netflix taking off after reporting the best subscriber growth since the early days of the pandemic arjunoins us now from london good morning. >> good morning, frank investors shook off that mixed bag. instead it was the user numbers in focus, and netflix's password-sharing crackdown and ad-supported tier are helping the company. that i added 13.1 million subscribers during the fourth quarter, stronger growth than what wall street had expected. netflix now has 268 subscribers. it's higher than market expectation. it might not be great news for subscribers. it could raise prices again. clearly netflix very confident in its product even amid rising competition from disney and the others it's also taking its first major foray into live sports with a deal with tko group to stream wwe's flagship roll. it's offering content beyond just tv shows and movies, now into live sport and gaming the market was very happy with the report netflix shares up more than 10% in after hours, frank. >> very clearly the market was very happy with the report despite that eps miss. so i have to ask you i asked our

arjun, i've looked at how the stocks have done throughout the course of january. that i had a big run-up to yesterday's events. i've got to think a lot of this was expectations were so high and stocks had formed so well in the first quarter of trading. >> the results were very good, but not good enough to meet the high expectations that were already priced in here at this point. i think if you look at the after hours move, 5% on alphabet, we've seen bigger before. it's not that big. microsoft, a couple percent down. this is really investors taking a breather here. the results altogether weren't bad. if you look at alphabet, revenue recovery, the fattest growth since early 2002, there was some weakness in ads, the ad revenue coming shy of expectations, but still up 11% year over year as the ad market recovery takes hold, which is a positive, and cloud growth. 26%. pretty strong growth in cloud as well. so it looked like alphabet was really sort of firing on a lot of cylinders. i think a lot of the concerns at this point is the ai story around it. is it as strong a

arjun is here tracking the very latest for us and those totals. >> yes, we had a big totals in the north where it rained all day long. so anywhere from about an inch and a half in tiburon to 5.5in mount tam. and we picked up about two inches in the santa cruz mountains, 1.27. mount diablo 51. danville 55. in san jose with mid 40s in the north bay. a lot of cloud cover and some fog keeping our temperatures a little bit milder. east bay, south bay peninsula north bay is cooling off 3 to 5 degrees cooler than yesterday, but we do have fog there up in santa rosa, a quarter mile visibility by 9:00. low 50s for most of us. still a few upper 40s in the north bay. and by 1:00 upper 50s to near 60, that should be the high around 330 or so for many of you. and then by 730, temperatures are still in the 50s. you notice the cloud cover sticking around. does that lead to more rain? i'll let you know in a few minutes. stephanie. all right. >> lisa, thank you. and the middle east now, today marks 100 days since hamas launched a deadly attack in israel that killed roughly 1200 people. a rally is taking

arjun is tracking a level two storm on the abc seven storm impact scale.rea business owners are preparing. good morning. it's saturday, january 20th. i'm stephanie sierra and we'll get right to weather in just a moment. but first who's excited for the niners. yeah look at lisa. she's in her niners red. >> yeah that certainly passes for the gold. >> well b

and the beginning of the liberation of the arjun time people. that's actually the name of this small, and it's being debated in commissions right now. it could take days, weeks, months to be approved. and the real question is, how much of it will be approved? because basically what it is, is the president calling for a state of emergency that would give him extra ordinary powers, amazing parole, the tubes over the economy, over social laws, over pensions, of, of the privatization of companies. it's a long, long list that he's asking for, and it would allow him to have these powers that could pretty much supersede a lot of the, of the attributions of the congress for up to 4 years. so he's asking for a lot, some quoted, even imperial powers, whether or not he will get some or all of it is what is going to be decided in these debates that have just to be done for you as president donald trump has appeared in court trying to convince judges that he should not be prosecuted on the federal charges. trump is accused of trying to every time the results

with rare exceptions arjun times have bought, sold and saved in us dollars for nearly half a century to offset repeated evaluations and inflation. a vicious circle that the new government vows to break with a brutal fiscal adjustment is down. you know, i, this year the government will not print any money to cover the fiscal deficit. in the next 3 months, there will be hyper inflation as subsidies disappear, followed by a steep recession. the government's objective is to achieve 0 inflation by december . right now that's hard to imagine. next week, public transport and window site is will go up 45 percent, while salaries remain stagnant. those who voted for president, have you had malays say they knew his cure for their economic clothes would be extreme. would many aren't sure of now is whether they can withstand the medicine, the see and human algebra window site is the v host and defending champions cut to one the opening game with vision cup. following the opening ceremony at the south stadium, they beat $11.00 and $3.00 meal in that 1st matching group. i actually have a fee for st

arjun is tracking a level two storm on the abc seven storm impact scale.now, bay area business owners are preparing. good morning. it's saturday, january 20th. i'm stephanie sierra and we'll get right to weather in just a moment. but first who's excited for the niners. yeah look at lisa. she's in her niners red. >> yeah that certainly passes for the gold. >> well good because that was my intention. yes of course. >> all right. well we are looking at a soggy game for sure. we're right in the middle of a series of systems that are going to continue to bring us wet weather. this is the second one. as we look at live doper seven getting in closer. the heavier rain there from bolinas, right along the coast. olema and then just some scattered light showers across central marin, but up to the north for novato and san rafael. more light showers over into oakland and san leandro. it's a wet start to your saturday and out through blin a few scattered showers across the bay area. right now. we are a bit of a in a break, but you can see offshore there are there's more