joining us now are horatio verona and anna from asml and a check for $250,000 you all are holding.t's a lot of money. >> yes. we value the partnership that asml has with second harvest and we're proud we're able to help. >> reporter: $250,000 over the course of a i year, how does it feel knowing this money will help provide so many meals for families in need? >> it's really rewarding. we feel when our community thrives, we will thrive and want to be a valued partner in our community. >> reporter: i'm bringing in leslie with second harvest. this is one of the longstanding partnerships you guys have with community supporters. $250,000 goes a long way, doesn't it? >> absolutely. we are dependent on partnerships like this and individual contributions to make this work happen and we are up to serving the same number of people we served at the height of the pandemic. so support has never been more important than today. >> reporter: support needed. the need is up. numbers are down. if you want to help out and contribute, a little bit goes a long way. even $1 can help provide two meals. he

really quick you like some picks, nvidia, taiwan semiconductor and asml. is that kind of tied back to that same story? >> exactly. we try to look for what we call choke points in the supply chain of satisfaction. places where companies really dominant so nvidia is the choke point for a.i. and they are like 90% of the chips. well then you have companies like tsmc. they are about 30-40% of nvidia's capital structure of all of the spending that they do is to tsmc, which is the most important company in the world, and then you have asml, which makes extreme ultralight machines that make all of those things happen so you have nvidia is a 90%, you've got tsmc about 38% of nvidia and then you've got asml which is about 48% of tsmc so you have these companies in the choke point of the supply chain making this happen all absolutely essential to a.i. moving forward. cheryl: by the way, one thing in your note i thought was interesting, gdp in the fourth quarter is indicated at 3.2% but you say the feds forecast of 2.1 gdp growth for 2025 is likely low. you are seeing

looking at asml, we were moving lower across the world for the names.e have them for you significant lower move there infineon down 3.4 and asml down 3.2% down. we will see how this moves throughout the day we saw a selloff stateside we saw pressure for european equities this morning and the chip world is also not an exception. >>> i want to take you to another corporate story with negotiations with volkswagen and the union cost saving plan will continue today the two sides told cnbc that talks ran until 4:00 a.m. this morning and will resume later today. the number of new vehicles in europe fell 2% with sharp declines in france and italy according to the european manufacturing association. ev sales sank 9% tesla posted a decline of 41% after becoming subject to new eu tariffs on chinese made cars. >>> to bring you to another development, norge mining announced it will buy europe's largest graphite producer skaland. it will secure the supply chains in the chinese export controls i'm pleased to introduce to you michael wurmser, the founder great to have

asml shares are trading higher this morning after saying they confirmed that financial guidance. >>>stry announced its own export controls on a variety of chip related materials, including, i should say, aluminum set to come in effect today. >>> tesla shares are lower in pre-market after the ev maker lost its second attempt to push through the $56 billion pay package for ceo elon musk despite shareholders backing the deal the court struck down the package for a second time with the judge ruling that the board had no procedural grounds for overturning the previous decision tesla has vowed to appeal the decision with musk calling the ruling absolute corruption on x. >>> and stellantis searches for a north american regulations and is looking for a new ceo according to reuters which says the board is considering external candidates. two have been appointed to the committee charged with finding a new ceo. to discuss the auto sector, i'm pleased to say tom at rbc capital markets is joining us today. good morning, good to have you on the show first, i would like to get your thoughts on stel

asml is sharing lego replicas. it's only available to asml employees.y to make them more widely available. rochus will set employees back $216 each. that is your brief. scarlet: we are both gawking at that lego set. katie: if it's only available to employees, i thought they would get it for free. maybe i am being greedy. scarlet: it does cost money to make that. coming up next, pricing in a less dovish fed. >> the way the economy is going, you should see a moderation in growth and a moderation and employment and in inflation. the market is very efficiently priced in for a benign policy pack. scarlet: what it means for the bond market. that is next. you are watching "bloomberg surveillance." ♪ katie: welcome back to "bloomberg surveillance." katie greifeld here with scarlet fu. everyone off today except the two of us and we are bringing you the premarket action. not too much to speak of but exciting nonetheless. s&p 500 a little higher. we have been camped out at these levels all morning. maybe we will see the shock and awe we got yesterday. the market c

in the semi conductor space with a festive twist asml created an item for 208 euros employees can buyature of a lithography machine, celebrated or created to celebrate their 40th anniversary, hard to get if you're not an employee so maybe a secondary market lookout for those. the real thing costs well above 200 million euros. plenty more, stay with us, this.... is bloomberg. ♪ tom: happy christmas eve. the focus is french cabinet, they will carve out a new budget and a reminder that the breakdown has impacted equities. underperformance versus europe is the most since 2010 and it could continue with no sign of stability for clarity whether you will have a government to enact any budget they doing. let's flip the board to where the u.k. is looking cheap. shares trade 40% valuation discount to lean into the dividend stocks. valuation is there, and finally more details what is planned in china. chinese stocks has performed well. we will see if the detail comes through. stay with us, this is bloomberg. it's our son, he is always up in our business. it's the verizon 5g home internet i got u

asml in europe. so bay i think sjeng took a number of actions seeing them retaliate in ways where they cut off a couple minerals that are important to the clip industry and the defense industry in particular gallium and germanium so they are showing they have cards to play. caroline: thank you so much. let's stick with china and u.s. we have president-elect trump saying he had an exchange with the chinese leader in recent days. the first clear indication of direct contact between the two since his re-election. here he is with "meet the press." >> i had an agreement with president shi and we were going to give the death penalty to anybody sending drugs into the united states. caroline: let's get out to mike shepherd in washington. that was notable conversation has already started and the environment where we see china having to respond to its own economic issues as they have to look to what trump might do to their economy come 2025. >> it highlights the uncertainty around the u.s.-china relationship a

asml down 3.5% >>> turning to home builders, lennar missing on the top and bottom estimates for the fourthmand remains strong and chronic supply shortage continues to drive the market, but results drive inn ny affordable issues. shares down 9% >>> ms also looking to apple to integrate into iphone. apple and tencent have not responded. >>> amazon workers across the facility will go on strike this morning. teamsters union said the company has followed to come to the bargaining table san francisco and southern california and new york city and atlanta and illinois represent 1% of amazon's hourly work force. shares of amazon rebounding up .75%. >>> we are watching shares of fedex this morning the stock has traded lower since the last earnings report under performing on the guidance revenues are expected to be flat year over year forecast expected to fall 2% earlier this year, fedex combined the ground business the margin estimates 1.2%. it is not actually comparable to the big number the question is will the company spin off the freight the goal here is to unlock shareholder value with fedex as

japan, south korea and netherlands and for the companies there which is tokyo electric in japan and asml holdings in the netherlands. there is likely to be an impact on u.s. companies whose sales to china will be further limited. that includes micron and manufacturers like applied materials. i will note both could see less of an impact than presently expected given today's rules appear milder than previous draft version was have looked. u.s. officials also do say there is still room for the u.s. and china to keep working together. national security adviser jake sullivan told reporters that basic commercial commerce would not be disrupted. this is one area where they are looking to crackdown on china before officials leave office in january. frank. >> megan, i want to get back to the invest or impact. it is down .13%. when we look at the near term, what impact should investors expect? >> reporter: it is going to be interesting to watch the shares today because i would expect some of the american companies could fall on this while some of the companies abroad could rise. although there is

the chip maker asml says the decision would not impact their financial guidance that has actually propelled the stock this morning however, the move hit chinese semiconductor names during the asian session with the new trade curbs likely to hit the ability to develop new technology. let's see how this will continue to develop, frank, but no doubt, also important developments here when you think about the outlook for some of the chip names. >> also the political developments and we have to keep an eye on france and the cac silvia amaro, thank you very much. >>> time for the check of the top stories that includes new concerns ahead of the final fed decision in 2024 silvana henao is here with that and more silvana, good morning. >> good morning, frank christopher waller is still leaning in favor of another interest rate cut later this month. cautions of possible inflation trouble ahead. listen in. >> recent data have raised the possibility that progress on inflation may be stalling at a level meaningfully above 2%. this risk has raised concerns that the fmoc should consider holding the policy

we shined a light on asml, a chipmaker in europe, saying u.s. authorities are imposing restrictions on manufacturers that will become effective immediately, but it does not expect long-term demand to be impacted by these new regulations. let's stick with all things chips and take a look at intel shares. one of the key drags on the benchmarks today. we are off 4% again after yesterday's surprise departure of the ceo, opening the door for the company to continue -- to consider more deal options, scenarios he rejected during his time running the chipmaker. first we think of m&a. plenty of reporting around what could be spun off and who would be buyers. what are you thinking about that being reignited? >> intel has been at the heart of deal talks. they have lost a lot of ground in the chip industry to their competitors, notably nvidia and tsmc. there been discussions and deals. pat gelsinger had been an advocate for keeping the company together. making investments in big companies and in particular he wanted to move into the foundry business that is

's la on that one, asml holdings and alphabet on the nasdaq winners' list. >>> here's what's still aheadtrump's tear writer -- tariff pressure building. alberta's premier, danielle smith, next -- shortly on the show. brian kilmeade will react to judge juan merchan refusing trump's bid to throw out his hush money conviction. christian whiton reacts to the white house downplaying concerns over the mysterious drones, and mike is coming up too. the 10:00 hour -- mike mike rowe is coming up too. he's -- the 10:00 hour is next. muck i'm on my way ♪ .. cising these rights well. the founders of our great nation chose independence, as do we. hillsdale college accepts no government funding, because independence makes possible the good to which we aspire. confident. measured. ready. the markets, like life, will turn and challenge us. but when emotions run high, we stay grounded. with the hcm buyline, we work to empower investors, in navigating market volatility and complex conditions. we provide a diverse portfolio with proprietary mutual funds and etfs aimed at growth and preservation. so you can

nasdaq, asml -- and we have -- don't know that one. lauren: mercado libre. stuart: that's right.head, liz peek will react to the biden administration not answering direct questions about the mysterious drone sightings. tennessee senator bill hagerty, he's going to be here on the backlash over biden selling border wall materials. ukraine says it assassinated a top russian general. what does that mean for the peace talks? incoming special envoy to ukraine and russia, retired lieutenant general keith kellogg to, has that for us. and some democrats are calling out biden for disappearing from the public stage the as trump tax over. bill hemmer on that. the 10:00 hour is next. ♪ oh, i wanna dance with somebody. ♪ i wanna feel the heat with somebody. ♪ yeah, i wanna dance with somebody -- ♪ .. xcom g7 is one of the easiest ways to take better control of your diabetes. this small wearable replaces fingersticks, lowers a1c, and it's covered by medicare. not managing your diabetes really affects your health for the future. the older you get, the more complications you're gonna see. i knew

for countries like japan, south korea and the netherlands and companies including tokyo electron and asmloldings. there is an impact on u.s. companies whose sales to china will be limited. that includes the chipmaker micron and some chip component manufacturers like applied materials. though both could see less of an impact than under the previous draft versions of those rules, still you see micron and applied materials, those stocks are each down fractionally today. >>> now to the box office. disney's "moana 2" brought in $221 million, smashing expectations of around $100 million. it is the highest thanksgiving weekend perform be as of any film ever. "wicked" continues to soar as well, bringing in more than $117 million over the holiday period. it is now the highest grossing broadway adaptation of all time. and then you got "gladiator 2" that brought in $44 million over the five-day period. overall, moviegoers spent an estimated $420 million at north american box offices making it the biggest thanksgiving weekend ever at the movies. >> did you see "wicked" yet? >> no. i did see "gladiato