also blackrock. j.p. morgan asset management. also local players like schroders and baillie gifford. these massive asset managers that are big in this part of the world. in particular he has targeted one fund he has gone activist against. and every u.k., as the u.s., it is a similar narrative where he thinks there is good arbitrage here where you can get these funds to close their discounts and because you know the underlying asset values of the assets they invest in a few close the discount, to him, he benefits and the retail investor also benefits. katie: great details in this piece include that going along with this the fact that 25% of their bets are in the u.k., they actually saw a reopened office in london, it looks like. justina: they closed their office in 2017. now they have reopened an office. behind that is the fact they have launched a new fund around late last year focusing specifically on the u.k. fund. i think this really shows his shift to this part of the world. he came to london last week. he spoke to me. he spo

all of those companies are owned by blackrock. and they make money on it.ckrock got the contract not only for destroying ukraine, which we have done, including 450,000 kids, they also now have the contract for rebuilding, estimates are about half $1 trillion. all the bridges, the buildings, ports, everything they destroyed, they know they paid to rebuild. this is a story and have been watching tournament again. you think it would be safer to shut up. [indistinct shouting] i am going to close. after i close, we are going to do a selfie line here, so anybody who wants to get their picture taken [applause] -- i will say this, when i was in boston, eight months ago i said that one of the things i wanted to do, one of them is to not eat into the rancor, the vilification. our country is more poorly raised than any time since the civil war it is toxic -- more polarized than at any time since the civil war. it is toxic. eric said we have to be grateful for everything that happens to us. part of that is not hitting other people. when you hate, when you resent somebo

you can't underestimate the power of blackrock in this thing.aying it like this, the case he would make if he was talking to people in the biden administration which he has a strict line to is by taking -- direct line to, taking crypto out of the shadows, putting it on an exchange, having blackrock be the minister of this thing you can regulate it better than it is in the shadows. liz: people didn't want etfs to happen. etfs are like mutual funds only you trade stocks. you got to evolve. >> this is another level with crypto which has a very controversial reputation, i know that's larry's pitch. it worked with bitcoin, the one complicating factor with the etf before i wrap up here, gensler has been very again, obtuse whether he thinks this is legal or not. he actually said i don't know if it is legal. it is not registered. bitcoin doesn't have to be registered. he believes that is the one crypto that is a currency. he doesn't believe that, he is on the fence about ethereum. he definitely, they have litigated against xrp, ripple's native coin. tha

bing, we've talked about this before, the blackrock flexible income if fund, b-i-n-c. pretty well since you put it all together. you are the artist here o you know, stirring the witches' brew. i'm kidding -- [laughter] you say that in here you're looking for high yields and good values. 22% of it is corporate bonds, 6% from if emerging market debt, 24% from so-called junk bonds that are not necessarily investment grade. teach our viewers how the spot good value in bonds like this. >> it's a great, so great question, liz. by the way, think junk is less junkie these days. [laughter] there's some crazy stats now. we went through this incredibly low interest rate cycle. about 70% of companies refinanced their debt. when the fed funds rate was under 1. it's now at 5.38. fixed income, there's 68,000 securities in fixed income. the s&p 500, what we do is we go around the world. we're owning -- we like buying european debt. there's a long story about the currency benefit as a dollar investor you get, but you can get high yield with, european high yield at 8, 8.5 president. you

we seem layoff announcements already from amazon, google, ups, macy's, citigroup, blackrock, the listeason forecast the economic slowdown and increased costs of inflation. >> we see layoff announcements from a number of companies like amazon, google, macy's, blackrock and more, is 2024 going to have a lot of layoffs? >> when my dad was my age he was laid off and had two kids going to college and i remember it was devastating so of course the reason why we feel like the jobs report is a good sign and why we are so focused on job creation and job growth and connecting people to jobs is it makes all the difference in the world. >> we will have to see what those layoffs mean for the next jobs report. ashley: thank you very much. retail crime theft runs rampant in blue cities across the country. democrat lawmakers looking to crack down. brian, good morning. what are the states looking to do? >> reporter: kathy hochul is proposing new state police units go after organized retail theft and smash and grab. she is proposing to help with adding more security and an increase in penalties for ass

i mean, even esg, you know, larry fink, who is the ceo of blackrock, the largest asset manager of the world, who has been a huge, quote unquote catalyst, which is a very kind word in terms of ensuring that companies comply because of his his ability to or not allocate cap at all and to vote for directors and the like. he's been very that we've all figured out what esg is and said add a recent retreat that okay well i'm going to use the esg anymore because it's been politicized now he didn't say he's going to stop doing the things that he was doing that that wasn't his problem, which is my problem. i don't care what you call it, but it was oh, i'm mad that you figured out this. and so we've already some changes to impact investing in sustainable development and you're just going to keep seeing this cycle and through with different words and phrases. so i think it's really important for people to understand the underlying concept because it's going to come with some lipstick and a new bow and it's going to be the same old tired. another thing that's been. since nine, 1071 is this concep

gargi chaudhuri, blackrock head of ishares investment strategy, america's.ll ahead, we will take a look at the companies making the most social buzz today. this is bloomberg. ♪ thanks to avalara, we can calculate sales tax automatically. avalarahhhhhh what if tax rates change? ahhhhhh filing sales tax returns? ahhhhhh business license guidance? ahhhhhh -cross-border sales? -ahhhhhh -item classification? -ahhhhhh does it connect with acc...? ahhhhhh ahhhhhh ahhhhhh was also the first time you heard of a town named dinosaur, colorado. we just got an order from dinosaur, colorado. start an easy to build, powerful website for free with a partner that always puts you first. start for free at godaddy.com than help you reach your goals. i can make this work. it can help you reach them with confidence. no wonder more than 9 out of 10 of our clients are likely to recommend us. ameriprise financial. advice worth talking about. katie: it is time for social climbers, and look at the stocks making waves on social media. first up we have intel making the social rounds aft

the head of blackrock global allocation team and chief investment officer of global fixed income. great to see you. i think there was a lot of comfort that we had a solid economy and the central banks were in a good place because they could be patient as the economy did not be much help and inflation was going the right way. does anything interrupt that view? >> that cpi number, it was not the headline, it was scary, relative to the trend. when you dug into it, there were a couple things to respect, service level inflation, when you go down the list, insurance, medical services, education, it is pretty firm. the federal reserve as a hard time bringing down the level of inflation. those are not areas that are interest-rate sensitive for the most part. we have sticky service level inflation. however, the marc istook that, my god, inflation is going the other way. you have to respect that inflation, the fed can be more patient and start in may or june. i still think they will get 75 basis points this year. two weeks ago, the consistency in the market -- consistent -- they can be pati

then we had fidelity and blackrock catching up a little bit, and now we are seeing everyone else catchas well. it will be interesting to see how this plays out in the weeks and months down the line, but ibit is now competing as far as trading volume and liquidity goes. >> increasingly the folks speaking to bloomberg are talking about -- and they are trying to do the math on it. how big a factor is it for you in your model? >> i'm paying attention to it. but for the most part i'm just looking at the hard data of what is being bought and sold. these inflows, if it really continues, i would point out that dcg, gemini, genesis, there's a whole bunch of stuff going on with the genesis bankruptcy. they have roughly 67 million shares as of september that we know they own. that could be another huge selling point. i mean, selling catalyst which would be selling of the underlying bitcoin. we need to see what is going to happen. we don't have insight or that i'm more interested in that van exactly how that is going to impact what is going on here. the one other thing i would say that i'm watchin

blackrock says it's time t le down on this strategy if you want meaningful returns in the market. we'll tell you what it is, what the committee thinks about it as well next. [sfx: wind, rain and rolling thunder] nobody's born with grit. british announcer: rose is really struggling. it's something you build over time. american announcer: that's 21 missed cuts in a row. [car trunk slammed shut] for 88 years, morgan stanley has offered clients determination and forward thinking to create the future... crowd: stop it! ...only you can see. american announcer: rose, back in the winner's circle. [crowd cheers] [music out] encore energy, america's clean energy company, now in production in south texas. energizing america with reliable and affordable uranium for nuclear energy fuel from our environmentally friendly extraction process. encore energy. with nurtec odt, i can treat a migraine when it strikes and prevent migraine attacks, all in one. don't take if allergic to nurtec. allergic reactions can occur, even days after using. most common side effects were nausea, indigestion, and stom

what does he mean, this idea of animal spirits are being fueled by the likes of blackrock and vanguardsive funds? >> it is nuanced. this is a guy who launches a fund in 1996, crushes it for 15 years, shorts lehman brothers before he goes belly up and then has trouble in the 2010's, not coincidentally a parallel period where we saw a huge influx of capital into blackrock, vanguard and state street. what his thesis was was something has fundamentally changed, what is it? and they figured out that we have seen short funds disappear, value investors have seen outflows. money has gone into growth and passive and we cannot rely on other value investors to come in after we identify a cheap company and make it rise. we have to change the way we look at the world. over the past five years they have been outperforming. unusual to see this sort of second act. sonali: what is interesting he has having a bit of a renaissance. this is not just in the way he is thinking about value but in merger trades that have paid out. you can appreciate that he is throwing shade not only passive investing but he

for model portfolios, a ready-made strategy of index etf's packaged together that state street or blackrock clients. talked with state street about their plans to hire employees and scale their business to about 25 dollars in assets. -- $25 billion in assets. sonali: these days you have seen a lot of different companies capitalize on them. what are the options that people are talking about? emily: everyone was talking about income, which feels like that has been a theme for a while. but jp morgan's fund is one that comes to mind. saw a lot of advertisements for that at the conference. but everybody was talking about launching a new fund that had some sort of options overlay strategy, where the investor can get equity upside, but also protection from an options overlay type of strategy. sonali: how are things to emily grafeo two in next week at 12:00 p.m. eastern. coming up, jason robins joins bloomberg technology with caroline hyde and ed ludlow. that is up next. this is bloomberg. ♪ >> from the heart of where innovation, money, and power collide, this is "bloomberg technology ," with carol

ramaswamy: blackrock. pretty easy question. >> rafy, federer or djokovic. mr. ramaswamy: djokovic.had the courage to stand up. those guys can all hit the tennis ball in a different way, but who has the spine to actually stand up when it was unpopular? that was novak djokovic. he sacrificed grand slams for his principles. >> we only saw you hit forehand. do you have a good backhand? mr. ramaswamy: i like to hide my weaknesses. >> you have been on the campaign trail with a lot of talented people. and you met a lot of politicians over the years. we know what you think about donald trump. everyone else, including those you ran against her president, who are you most impressed with? you can admire people on the left for the fact that they are killers. mr. ramaswamy: i will give you a guy who did not run for president last time, rand paul. this is a guy who -- the tempting thing to do is you see what direction the winds are blowing. sometimes that takes if you want to win election. he stuck to principal and i respect that. having been through this process, i respect a guy that stayed tet

>> blackrock has $8 billion in their fund, and they're out there telling people it's a flight to quality. charles: bitcoin is a flight to quality. >> of course. how are you going to protect yourself, right? if they're going to devalue your currency and you need something to protect yourself from currency debasement, i think that's why larry fink is going to get institutions onboard. charles: my man. congratbraces -- congratulations es, you've been spot on. you know someone else who is always spot on, liz claman. liz: pomp's the man when it comes to bitcoin and, boy, has he been right. fox market alert, the bulls right now are hunting high and low for a catalyst to push the markets to maybe a new record. right now not having much success. the dow, which lost 96 points at the closing bell yesterday, is down another 85 after squeezing out ap an 8-point gain yesterday, the s&p 500 losing 10. the nasdaq at the moment down 81. the russell, both of these also saw points added on the board tuesday, but now they're looking at goose eggs or worse. nasdaq down 80 points, the russell 2000 down 10 po

we just saw an event the other day where blackrock and then citigroup bailed out of this organizationis climate 100 organization, to force esg through their dominance of the market. ag's did the same thing. they came out and said this appears to be a violation of american antitrust law. and we will pursue you if you don't stop. on the judiciary committee, we sent out letters asking for documents and sure enough, they also have scattered like rats leaving the ship. we will keep looking for opportunities like that. we will work closely with other republican attorneys general across the nation. what we are trying to do and what stephen miller has done with america first legal, we are pursuing the law. we are trying to enforce the law, not abuse it by circumventing it through the position of executive authority. whether you see that homeland security or the experiences can has talked about, that has to be stopped and that is ultimately our strength is conservatives. we support the rule of law but we've got to be more aggressive as stephen suggested in getting after it and showing we don't

. >> blackrock.ty easy question. >> rossi, fedor or your kvetch. >> your kvetch. >> why the? because you have the courage to stand up. he wasn't my favorite at first. talk about the graceful strokes. those guys can all hit the tennis ball into different but who has the fortitude to the spine to stand up when it was unpopular? that was novak. he sacrificed a number of grand slams for his own principlee know heac was right so he won me over. >> we only saw you before hand. the also have a good back and? >> i like to hide my weaknesses. >> there enough. you've been on the campaign trail with a lot of talented people. and you've met a lot of politicians over the years. we know what you think about donald trump. not donald trump but i'd what else including those you ran against the president, who are you most impressed with? >> of the people who ran for president? >> general. by the way you canyore at by pee on the left for the fact that they are killers. >> i'll give you a guy who didn't run foror presid

don't want to get into the specifics except that probably most of you who follow this know that blackrock and others have investments in some of these problematic entities. when i say problematic entities, they might be on one of those entity lists. they might be on the uyghur force labor prevention act list or might be on one of the military sanctions lists, and so, you know, what we want to do is-- you know, finish the investigation, publish our findings and then go to legislation. >> and then the committees report last year laid out a number of economic recommendations. it called for an overhaul of the u.s. economic relationship with china, but stopped short of endorsing ending normal trade relations with china. why did you stop short of that? >> well, i think that here is the issue, which is that if the ccp decides to play by the rules of those wto, then i don't think that the counter measures that we have adopted, whether it's increased tariffs or otherwise, the urgency of having those goes away, okay? and we can kind of go back to potentially a regime that is much more normal, so to

shifting their their power towards. china, this is the reality, the eurasian axis is something back by blackrock and larry fink and and the likes of the big money men, so clearly there is a change in the status quo around the world that the money men want, so the likes of the very people who are actually behind america's success and its economic economic ascendency and the west's hegemony actually now have started shifting eastwards more, it's a bit of kin to the post 1945 scenario where you got british colonialists and sorry, so we in this period of flux, i'll just conclude quickly, sure, what, what we really need is is is to recognize that uh, the leavers of power are losing their grip and they're in a desperate state, and of course that's why they're acting desperately, and the the biggest desperation is all right, thank you very much for that, mussan abbas, unfortunately we just out of time for this, we do appreciate it, simon abbas, journalist and political commentator, with that we come to an end of our coverage. now, let's bye bye. hello and welcome to another edition of face to face. i'm

thus, blackrock neurotech first implanted a device for interacting with a computer into the brain back created an implant for paralyzed people, which looks like a piece of very... film and is placed on the surface of the brain, but the real breakthrough occurred last year: in switzerland, a paralyzed man had implants implanted in his brain, and after a series of training studies, he can walk again, albeit with limitations. it's been a long journey, but in the end i can actually function almost normally. it took me 10 years to stand on my own two feet with a friend over a glass of beer. and i think a lot of people... don't even know what it's like, but what gives hope to some causes fear and rejection to others. with the development of chipping technologies , the number of those who will say that all those subjected to the procedure have become toys in the hands of puppeteers from among the shadow government. they say the implant did not give the person anything, but took away his will, and now all his movements, desires and thoughts depend on others. someone will remember about the law

funds breaking $2.8 billion in net the likes of loud rock -- blackrock infidelity.in two years we have seen it jump above $50,000. quite a comeback from a series of industry setbacks. let's get more from hannah. what are we seeing as the drive of this recent rally? the question is, is there sustainability? >> there is optimism around bitcoin. they -- there are healthy inflows and -- into etf's. people have celebrated online and they are saying i told you so. bitcoin's back but we have to keep in mind it is still off from the $69,000 hi from november 2021. haidi: what is next when it comes to crypto etf's that have driven the latest rally? >> now, everyone is awaiting approval for ethereum etf's. ethereum is the second most popular cryptocurrency and traders are looking forward. they think bitcoin has paved the way with bitcoin etf's. maybe we will see other cryptocurrencies have etf's. there is excitement on that front and we will continue watching etf's as it continues upward. haidi: hannah miller with the latest on bitcoin. a reminder, china, hong kong, vietnam an

haslinda: let's get more on markets with our guest from blackrock. he pushed back, the markets still pricing in the 30% chance of a rate cut in march. what is happening? >> there are two parts to it, i think chair powell was clear that they are not keen to go in march, but at the same time, it did remind people about some of the regional banking risks still sitting in the system. if you roll back 11 months, march of last year, the 10 year rallied almost 75 basis points in three weeks. i don't think we will see that but clearly the market is split between rate cut expectations, but there is still original banking risk that is coming back. haslinda: likely in may, now the market is expecting deeper cuts for the rest of the year. >> if i take a step back and think about not what the fed will do but what they can do, i think it's accommodation of balance sheet and rate cuts. they have a lot of room to cut rates could will they cut 150 basis points? maybe, maybe not. i think they've created the room for cutting rates as the economy needs, but base case sc

but this is not retail driven, it looks and feels like it is post etf, certainly looking at what blackrocknd fidelity have done in terms of growing on the back of their etf volumes, potentially driving some of this volume and not what we have seen previously so it speaks to the stability, increasing institutional money into this asset class and it started with bitcoin and i think it will end with bitcoin and this is just the beginning as predict did, i think. haidi: when it comes to skeptics, have they been washed out but what we see in the successful etf launch? >> i think we can watch the skeptics fully out of the market but they have a role to play. we do need some exuberance -- exuberance taper down from time to time because certainly when you look at the previous bowl run things got ahead of themselves and that is true for any cycle, certainly looking at tech stocks similarly, so skeptics play a role however those naysayers who are completely ruling out the role of bitcoin are doing themselves a disservice. i do not think anyone can now say, it has been 2013 and we have not seen impro

. >> then powell joining us earlier from blackrock talking about ai and frenzy continued and probablyking at momentum going into today with nvidia scorching rally and over to amazon and alphabet at the close and this has been a slow moving ship to get to the point but now it has overtaken tech [indiscernible] >> it has been a phenomenal little ride, just looking at the perform an instance of the start of the year this stock has climbed 50% in the past month and a half and it is insatiable appetite for the processors used in data centers and needed for ai applications, the run up overnight has helped it overtake the market cap of alphabet one day after overtaking the market of amazon, 1.8 $3 trillion. let's look at how it fares globally because it is just behind saudi aramco that has a cap of $2 trillion. this is the metal tally and worth noting that it is becoming an investor dolly -- darling in the ai frenzy, set apart from the rest of the pack because it has demonstrated revenue growth and gave us a glimpse of investment strategy and has stake in arm that has been disclosed and stak

collapse, but we are back hire and you are seeing the launches of these etf's, particularly for blackrocktest number of assets in brought in ever for an etf launch of any asset class, so you are seeing traditional wall street hop in and help give that value proposition to bitcoin. we are seeing it hop back up to levels we saw when you initially saw the excitement around ecf. does it reach new highs again? there is an argument to be made that some of that is priced in, but it is not just bitcoin that is seeing a lot of love lately. even other altcoins or tokens outside the initial big two -- solana is up. this is a network that had seen an outage a couple days ago, so a lot coming back to the crypto markets today. caroline: $3.1 billion. thank you for the inside track on all things crypto. coming up, president joe biden is joining tiktok for the campaign. this is bloomberg technology. ♪ how am i going to find a doctor when i'm hallucinating? what about zocdoc? so many options. yeah, and dr. xichun even takes your sketchy insurance. xi-chun, xi-chun, xi-chun! you've got more options than yo

what is happening as you look alphabet, amazon, blackrock, ebay sloshing job that layoffs are being normalized the other thing to remember with the story for years through covid, company successfully passed on their higher cost through higher prices to customers. but many of them have lost their pricing powers, now they/jobs, we used to see what a company said we were laying off a thousand workers the stock price would go up because investors said they're getting more nimble but were not seeing that this time around sometimes are making the announcement of a layoff and then we see the stock price go down because investors are nervous there might be another problem with a copy. >> that is quite a list of companies on the screen. two brothers on tiktok are going viral for the videos on inflation of all things wire they so popular. nikki and jojo are twins from staten island they say inflation is so out of control from the price that their dad pays at the daily for his pastrami to their car insurance, listen in. >> my credit score is 800 i'll be 25 in two weeks in my car insurance in the last two

. >> or supported by blackrock. >> pete: exactly. thank you both for breaking this down for us. will be watching in south carolina. stephen and rachel, god bless you both. two american gems. by the way, watch bret and martha tomorrow night on fox news for full primary coverage that starts at 7:00 p.m. eastern on the fox news channel. now, you can also stream fox nation on a second device. watch fox news channel but then, you know, pull it up on your iphone or ipad. pull up fox nation where myself, rachel will be here as well, will cain and other special guests. think as watch party. all watching bret and martha together. watch on fox nation as we take in the results, too. that event is going to be live at back streets grill in columbia, south carolina. so if you are in south carolina, back streets grill, columbia, south carolina. fox nation. you know, back up to the news channel tomorrow night. fox news alert, a suspect is in custody after a woman was found dead on the university of georgia campus. police just saying he is not a u.s. citizen. much more on that breaking news. and

. >> a persecutor of christians, a friend of blackrock. >> ever since tucker carlson landed in moscow the state-run media has said it all. they've treated him like a true celebrity, down to the details of when and how he charged his cell phone. they ran video of carlson eating at a fast food joint and the fawning goes both ways. >> reporter: most americans have no idea why putin invaded ukraine or what his goals are now. you've never heard his voice. that's wrong. >> actually, that is wrong. that is not true. we do hear from putin regularly, we hear his voice, and what he says is written about we play him on the show. here he is in a four hour press conference in december specifically telling all of us what his goals are now. >> translator: there will be peace when we achieve our goals. they haven't changed. this is the demilitarization and denazi if i case of ukraine and its neutral status. >> there's the goals in his own voice and he says they haven't changed. the world knows why putin invaded ukraine. he handed out a document why it is not a country in the summer before he invaded.

wei li of blackrock. let's get you a update on stories elsewhere.ef with dani burger. dani: republicans in the senate have to decide how loyal they want their next leader to be to donald trump. mitch mcconnell is stepping away. his successors are known as the three john's. john thune of south dakota, john cornyn of texas, and john barrasso of wyoming. all three have endorsed the former president although john thune held out until this week. the sec is investigating -- the wall street journal reported regulators are looking at internal columns by the ceo sam altman related to his ouster in november. sources familiar with the probe say the sec subpoenaed openai in december and told senior staff to preserve internal documents. openai's board chair says the company will continue to strengthen governments. amc theater is cutting the pay for it ceo by 25% after about 2023. the fourth quarter profit missed estimates despite the sales boosts from taylor swift and beyonce concert films. amc sees a 9% revenue drop because the slate of films being released is

my thesis was extremely simple, blackrock was expanding into bitcoin, they're masters and overlords,y pelosi into a couple trades along the way. i'm into bitcoin. you have me at proxy for fiat currency. i believe there's poor stewardship of our currency and around the world. i was in bitcoin before i understood what it was and believe me i am only this much further in understanding it. it represents mistrust and i have plenty of that. maria: jump in here, adam. >> you, me and certainly a lot of us, jim. when i see bitcoin rise to 57,000 i think it probably goes up from here, to me that is risk on, people willing to deploy capital into what had been perceived as risky assets. are we over the whole inflation thing, jim? i want your opinion. cpi is the only one of the four may score inflation numbers -- major inflation numbers that's above 3%. pce is at down at 2 and gdp price index is down at you about one and-a-half. is the inflation thing a rear view story? >> no, i think it's still here, it will be lingering. i don't think it will explode again. i would like to calling you on . ther

as you know blackrock is in there.e the push to the bitcoin, got it over the finish line. he might be able to do so here but again this is different ballgame. etherium, bitcoin, two different coins, two different institutional sort of support levels and just, and gary gensler has been just sort of non-committal on etf whether it is legal or not. pay attention to this if you trade bitcoin this is one of the big things you're trading on, trading any crypto. this is a big thing but i would be real careful, liz, back to you. liz: okay, being careful. we shall take your advice, charlie gasparino, thank you very much. well just as the stock market at this very point yesterday was tanking, the u.s. dollar was charging to a fresh three-month high against the pound in the united kingdom, the euro, and the chinese yuan. the euro is down about one and, let's see 2.8% so far this year and you can see the pound is down 1 1/3%, chinese yuan is down 1.25% against the greenback. guess what? if you look how the u.s. dollar affects equi

what blackrock is doing his breath be -- breathtaking.an army of salespeople saying this is important. we did not have that six months ago. i do think like it will be hard to figure out where equilibrium is in the next six to 12 months. sonali: say that the demand stays constant. we have seen more demand with these etf's. you have where you will have the new coins minted daily dropping. we know that miners do not control the market. there are a lot of large holders. what do you think the flow looks like? mike: think about it. before that having, 60 thousand bitcoin about $54 billion a day of new supply. we have one customer who is one of the retail apps that pretty much buys 30 to $35 million a day just with us and i am not -- and i'm sure they are not buying just from us. there is a global demand for bitcoin. when you see what is driving the market data day is at 8:00 at night all the etfs talk about how much they bought or sold and it was $500 million or $400 million. as long as you see them staying positive they are selling bitcoin and

blackrock, the winner so far, $4.6 billion.n seeing net outflows but that has stabilized and is helping the market. other price drivers include the market dynamic where the new supply of bitcoin gets cut in half. one big number around 48,000. crypto stocks getting a boost, coinbase reports earnings later today. jpmorgan upgrading the name pointing to better earnings power. back over to you. >> our kate rooney live in san francisco. >>> bryn, over to you, you have a lot of crypto exposure. you own the grayscale bitcoin trust and ethereum trust. the outflows when it comes to the grayscale trust, concerns about that at all? >> i have a small amount of exposure. yes, i think ultimately from a fee perspective, the flows are going to go to where it's cheapest, so i think long term grayscale will have to reduce that fee. only so many people are going to hold it because of gains. and i think that, you know, bitcoin could be 100,000 or 25,000. i wouldn't be surprised either way. i think people view bitcoin as digital gold. i get that. i

liz: as we're bumping up against the closing bell, ibit, the blackrock bitcoin etf, hitting a high of 296. i'm sure the rest will follow. george, thank you so much. [closing bell rings] the dow finishes in the red, not below the lows of the session. nasdaq up 65. coming up -- ♪. larry: hello, folks, welcome to "kudlow," i'm larry kudlow. as usual "the new york times" got it completely wrong talking about donald trump's inflation which by the way was, get this, 1.6% at an annual rate on average over his entire first term, 1.6. anyway our own sandra smith and steve forbes will set the record straight. house oversight chair james comer will be here to unveil a new subpoena for ag merrick garland regarding joe biden's illegal classified documents. senator mike lee is coming around. he will talk about joe biden's lawless student loans. why is wendy's jacking up their hamburger prices? finally is mitch mcconnell about to endorse donald trump? how about those apples? and then mark simone and jason chaffetz will weigh in. later in the show, why is joe biden betraying our great ally israel? fo

system still left over from the covid funds that came in and i got into bitcoin basically based on blackrock want to be aligned with the deep pockets. as far as the stock market it is rallying off the same thing. as far as i can say with the stock market i worry, the problems with the banks start to surface, the fed will close down the bank funding program in march, problems with banks, commercial real estate will surface i believe the stock market will flex its muscles for the fed into easing, easing quickly. i don't think bitcoin will suffer in that. if i look at the two i prefer to be in bitcoin. david: bitcoin is now, yes just put it up, close to 62,000, 62,000? >> 61 now but blink and it will be 65. all over the place in couple weeks. david: would you buy it into at this level? >> okay, so if i didn't have a position already, i'm not giving advice to anyone else, i've been building my position slowly. i plan to continue to do that. very difficult to buy something that has gone parabolic like this, particularly when it is subject to volatile swings. i want to be involved in bitcoin, the

liz: as we're bumping up against the closing bell, ibit, the blackrock bitcoin etf, hitting a high ofank you so much. [closing bell rings] the dow finishes in the red, not below the lows of the session. nasdaq up 65. coming up -- ♪. larry: hello, folks, welcome to

that are happening, and the kind of move away from esg, we saw a big announcement from jpmorgan, blackrock, we're going to do our own thing. i think jpmorgan is probably sick of moving out on the m and a deals out there. so, if the deals close or not, you can own them all >> and another deal to tell you about. cord energy to buy interplus for $11 billion in stock and cash this according to bloomberg. i don't know much about them >> don't look over this way. >> don't look over this way. anybody have a thought here? >> a lot of deals in the space >> a lot of deals in the space warren buffett now owns 37% of oxidental petroleum. this is a stock, pull up an oxy chart, it's going absolutely nowhere, but clearly, there are people that see value in a space that a lot of people sort of left on the side of the road, because of names like nvidia if they are going to go up 8% in a day, why own energy stocks that might grind along half a percent over a week when you can own the high fliers. but ever a rotation out of technology, it's going to find its way into energy. >> very interesting. >>> all righ

liz: blackrock ceo, larry fink told fox business back in january that the federal reserve would waitabout new york community bank could judge and nudge fed chair jerome powell to cut-rates sooner than that says charlie gasparino. what else about the regional banks? >> not just me saying it so we're clear here. i'm not a economist. i talk to a lot of sophisticated economists, market people and here is the case for them cutting sooner. you kind of see this in the markets. markets have this resiliency. part of it is based on fed rate cuts. regional banking stuff is an issue. the balance sheets are still kind of screwy. larry fink has said that repeatedly on our show. number two you gaysally have the way the fed's balance sheet is arranged. we essentially, have the treasury sort of sold a ton, frontloaded borrowing with short term debt, never locked in with long-term rates. so you have to roll over that debt. you have to roll over it at increasingly higher prices if the fed is raising rates or not cutting. so that's another impetus for cutting rates sooner rather than later. i think the

million shares changed hands in the if the three biggest spot bitcoin etfs, gray scale, fidelity and blackrockpares with 200 million shares in the most valuable companies in the world. like apple, microsoft and nvidia. stuart: i liked your whispering delivery there. it reminds me of joe biden. lauren: oh, no. stuart: no joke. okay, let's move on to tj maxx. parent company of marshall's and a store called home goods -- lauren: which you've never been in. has anyone never been in a home goods? stuart: me. lauren: this was the holiday quarter. same-store sales at tjx up 5%, really strong at home goods, up 7%. why is the stock down a little bit? well, as customers shopped for deals over the holidays, the company is kind of guidance for all of 2024 let's call it underwhelming, and that's the reaction. basically nothing in the stock market. stuart: how about baidu, china's google? lauren: they have a chat bot, it is called ernie, 4,000 merchants are using it across industries. their a.i. contributions, their a.i. investments, they say it's going to be mooningful, but it isn't yet -- meaningful. so t

we've seen layoffs, announcements from a number of different companies amazon, google, macy's, blackrocke. is 2024 are going to start this wave of layoffs. >> but having a good job makes all the difference in the world. and so that is why, you know, the jobs report that crushed expectations is something that we are happy about. and is a sign that we should keep on going. >> and we'll have to see exactly how much of an effect the announced layoffs have in the next jobs report. next month at the white house, edward lawrence fox business. >> a fresh round of snow headed for the sierra. coming up, a live look at the conditions in tahoe. >> and across the bay area, we're awaiting the next big storm. i'll have a look at the timeline and what you can expect fo your neighborhood. coming two leading candidates for senate. two very different visions for california. steve garvey, the leading republican, is too conservative for california. he voted for trump twice and supported republicans for years, including far right conservatives. adam schiff, the leading democrat, defended democracy against tru

now in the hands of blackrock and other large investment vehicles that have weaponized the trillions of dollars they control. there's been some headway there that needs to become the norm across the nation for the right same principle should apply all large state contracts with notable that oppose an attack. the interests of american and state residents all special and giveaways that state and local governments designed in the past for corporations given to them. corporations are actively opposing the interest of their residents. american citizens. we need to reexamine those special carve outs, right, and take back the idea that that action conservative principles is so to me, i mean, strict libertarian have been talking for decades that special cut outs for businesses distort what should a level playing field right so getting of them should be applauded what would what did should be applauded with disney. the entire complicated landscape of our free market is already a distorted and corrupt war zone where states like california and new york, ceaseless rewarding their friends and pun

she has all the backing of the establishment, blackrock, wall street, corporations, and she is the insidermuch money they're throwing at her, by the way, she just got another injection of half a million dollars for michigan as well. so there are people behind her. what you didn't9 see in the speech, will, pete, last night was laying out the pathway for her forward -- pete: it's 40%, rachel. not 50%. i can do it with 40%. rachel: since she didn't really explain how she can one, it leaves wide open the possibility that she's just a saboteur, and that's, i think, what people are after. will: here's the most important, far and away the number one issue, what are we looking at three states running? take a look at this, 45% said immigration was their top issue that motivated their vote. 30% said economy and jobs, and and 7 said foreign policy were their top issues. pete: and then you talk about immigration, building the wall, topics like that have changed the party, do you support or oppose building the wall along the u.s.-mexico border, 70% of republicans say this -- hold on, 70% of voters said

>> blackrock has $8 billion in their fund, and they're out there telling people it's a flight to qualitycourse. how are you going to protect yourself, right? if they're going to devalue your currency and you need something to protect yourself from currency debasement, i think that's why larry fink is going to get institutions onboard. charles: my man. congratbraces -- congratulations es, you've been spot on. you know someone else who is always spot on, liz claman. liz: pomp's the man when it comes to bitcoin and, boy, has he been right. fox market alert, th