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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

. >> because people that advance stakeholder capitalism, blackrock and vanguard, they believe they'reo what you believe in the best interest. when you talk about implementing climate policy or di policy that affect american businesses in the market economy. when enforcing those companies by the way that they both share of the companies into tierney and avoids democracy, it's a threat to democracy and it's a threat to a free market economy it's financial elites trying to take control of the issues away from the people because they don't think that we can make these decisions for ourselves. i think that's a mistake and historically proven to be a mistake in the whole book is about that hope you're reading it. >> great to see you both, thank you we appreciate your time. meanwhile frustration and anger at a boiling point and get california democrat leadership over the handling of the wildfire crisis. i'll be speaking with a progressive makes it easy to see if you can save money with a commercial auto quote online so you can get back to your monster to-do list. super helpful. see if you ca

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

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

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

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

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

sonali: we hear from blackrock. tim: a look at bitcoin this year. a little stumble out the gate.%.

a strategy that blackrock says is 100% correct at these levels. >> if you look at tech and the stock buyback and the amount of cash out there, pretty hard to see the equity market not finding its footing and not having a decent year like last year. >> you would be a buyer on the dip? >> 100%. >> joining me now is mark newton at fundstrat. >> thanks, frank. >> we heard rick say the market has pretty good footing. he sees more upside to come. we actually want to look at areas of the market where there's a little bit of pressure. you also see upside. why don't we start with the s&p 500. >> sounds good, frank. >> you don't mind if i start. a little bit of weakness down 3.5%. you say there is an upside trend you are bullish on. >> i agree, frank. despite the damage we have seen in the market this year starting last december, we have not really seen sufficient evidence of the market breaking down. that's thanks to technology. 5700 is an important spot. any weakness in the cpi is something investors want to consider. trends have not shown turning negative. >> does that mean we will see a bo

. >> one is blackrock with etf. it pulled out yesterday in bitcoin. three days of decline.t is atypical and i think i like bitcoin and i think people should watch it and maybe if they haven't bought it yet, they will get a chance. there you go. >> do you think it's cooled off enough? $96,808? >> i think 90,000 is the level. it's a nice hedge. i'm back to the $36 trillion. >> what has to work for bitcoin? the nasdaq? >> i think it is about animal spirits and younger people and driven by options on robinhood. we don't talk about robinhood enough. that's where young people are. the big firms have missed out on the younger people and robinhood. they will stay with robinhood forever. if you look at the chart, that is the stock. >> 234% gain in the past 12 months. >> because the company is oriented to the new investor. a lot of it is options. most options, of course, we know, don't make money. >> i tweeted a clip of myself talking in 2013 about bitcoin crashing below $200 of volatility. remember -- it wasn't secure in the japanese. >> we had the president-elect who likes bitcoin.

jeff rosenberg of blackrock.s well as some big earnings. a final thought around the table. we came into 2025 thinking about u.s. exceptionalism and global divergence, and lease and i have been talking about this for a number of weeks, the extent to which we can keep stretching that rubber band how far can we take that? how much oxygen is left in the story before we get these negative feedback loops and things start to move in the other direction? >> that's a great question and i am not sure i can answer. but i can tell you that the theme of dispersion is really important. because there's a limit to how long you can run a system with significant dispersion. and we have two main dispersion issue, u.s. vis-À-vis the rest of the world. the hope is the rest of the world comes up to the u.s. the fear is the rest of the world drags the u.s. down. within our economy, low income versus the rest. low-income that is struggling right now, we must not forget that. and these numbers cannot make us not also consider what's happ

surged and in just a moment, we are going to be speaking about all the market stress with christie of blackrockric from bloomberg intelligence is here with us looking at the flows. >> you said it, under pressure. that is a good word for it, especially on the tech side. that's over what we see in the inflows first.

we'll ask our experts over the final stretch including blackrock's rick rieder.e recent selling has been most pronounced and it's down .75% off the worst levels of the day, below 20,000 as you'll see and we'l

coast citigroup out any moment we've had better-than-expected earnings from jpmorgan and wells fargo blackrockng a pretty good rally on the better-than-expected numbers, from goldman sachs, many jpmorgan, wells fargo also, as i mentioned higher the dow industrials right now up 193, jpmorgan component nasdaq up 70 s&p 500 higher by 18 points, adam johnson has been a good morning in terms of major bank earnings. adam: a very good morning not only are revenues better earnings are bret kenny you were talking about lower provisions for credit losses which is good banks perceived credit quality stronger what jumps out for me revenue growth has been about 10% and earnings growth has been 25%. so, that is called earnings leverage that means banks operating very feshly very healthy, this is very good for the market, because that is really the -- the first edge of where you see the consumer on wall street. maria: for assure. >> sorry about that waiting for citigroup jeffries note, fiscal year 25 revenue barred 84 billion versus expenses 54 medicine everybody zeroing in on expenses, the analysts at jeffr

everybody's on board with esg investing and then blackrock dumps its commitment to net zero and basically starts loosening the esg hold. you know that's a major pivot. immigration, obviously, a tremendous turnaround in attitudes here about immigration. law and order. just one thing after another, stuart. i think it is not just seats lost. it is also the philosophical underpinnings of everything that the progressive left has tried to do and that joe biden signed on to, have basically been left in the rear view mirror and hooray for that obviously. stuart: it's not clear where the democrats go from here? >> it really isn't and i must say watching pete hegseth's committee hearings yesterday. i was appalled at the nastiness and the sort of low road they took for this reason. for this reason i think part of the reason donald trump won is because they were so nasty and so over reaching with their insults and not just about donald trump but about his followers. so what did we see on parade yesterday? unbelievable, again, smears of pete hegseth. i mean, tim kaine going after his marital infidelit

and i could add blackrock today. they're staying away from all this climate change woke and zero.do they call it. zero net something or other. now you're on the street at least occasionally. what do you make of this? is it true? so it sure sounds to me like elections matter, larry. that's perfect. it sounds like there might be a two way door on the climate group. and that's a good news. it was a two way door. they all flocked together, but after the election, it's a two way door. and they've decided that they're going to make their own policy and their own interests. this wouldn't be the first multilateral organization that's been created whose interests aren't exactly in alignment with the interests of their members. glad to see independent, independent members, independent ceos making their own decisions. i mean, i you know, there were reports i don't want to obsess about this, but there were reports that they were debunking people. if they found out that such people were not involved in dei or this climate change or net zero emissions and whatnot, which is pure insanity and und

how is blackrock's bitcoin etf doing? >> you know, overall for the year, it was great.out $53 billion in assets, but yesterday you had three straight days of big outflows. yesterday was the largest outflow on record9 to the tune of $333 million. again, remember, there has been a big with balloon as crypto jumped up to that peak of about $108,000. since then it's been around $96,000, below 100,000. you have seen some people withdraw from that bitcoin etf, so yesterday not a great day. still in perspective not bad considering it's an over $50 billion fund. ashley: right. this story, interesting, temperature short seller hindenburg just hundredsed their latest target -- announced their latest target. what are they saying about carvana? >> yeah, they're at it again, right? they're saying carvana is alleging they are, basically, the the auto retailer's subprime loan -- retailers subprime loans are a lot weaker hand they thought and they have way too relaxed underwriting standards. as we know, there's a downturn. any subprime mortgages should be effectively written off the bo

number two, it's used by all of blackrock's institutional clients for not only trading, but actuallynd as a p p and l, profit and loss statement. so if the largest money manager in the country, arguably in the world, is willing to use coinbase as its ecosystem for clients, i think that's a huge vote of confidence. and then finally, point number three that i would make, ashley, is that when the price of bitcoin goes up, coinbase makes more money because it charges commissions based upon the gross value of the trade. so for all those reasons, yeah, i like coinbase. it was well over 300 only about a month if ago so, yes, i'm a buyer and have been buying over the past week on this kip -- dip. ashley: you've sold america adam, that's for sure. we're out of time but thank you very much, indeed, as always. >>> coming up, the college football sugar bowl in new orleans has been postponed until this afternoon. the louisiana attorney general calls that absurd. she thinks it's too soon after the terror attack. we're going to bring her outraged response. >>> meantime, incoming border czar tom hom

blackrock went on a $30 billion credit buying spree last year, plus the perfect first private creditviduals assess. lack of regulatory oversight is among them. j.p. morgan has $10 billion set aside , drop in the bucket for them to compete in private deals. let's bring in to see how ceo of blue owl capital. it is great to have you here, mark. welcome. >> terrific to be here. thank you for having me. i'm sorry about the context of the tragic fires and we have partners and lots of players with them. thank you for having me here. >> appreciate that, of course. a lot of the real estate developers that we talked to, a lot of them say that they are turning to private credit for financing. >> one of the megatrends, if we want to use that word is the migration of more traditional asset markets into the private markets. you are hitting on one of the core themes that we see this year going forward. we have one of the best in the business and lending. the kind of lending you are talking about properties and residential packages is exactly what it provides. i think direct lending is that we will

blackrock. >> pulling in $640 billion in cash. both active and passive funds.oning. they pulled in $4000 billion in etfs -- 400 billion, 226 billion in equity funds and 164 billion in fixed income. total assets, a whopping $11.6 trillion. stuart: trillion with a t. wells fargo. >> also a story the about cost cutting today, and analysts like it. you're up 5%. head count has gone from 270,000 five years ago to 217,000. so they took a severance charge, but again, people like that they're trying to sort of get back, reare deucing head count and sort of refocusing on their core business. stuart: you know, banks have gotten us off to a good start for earnings season. >> i know. stuart: next one is microsoft. they're pausing new hiring. why? >> they are. in their consulting business. this is cost cutting. this is a pullback. this actually isn't new. we heard last week he were going to plan on laying off some employees. meta yesterday said they were going to cut bottom 5% of employees. brown forminnesota, the maker of jack daniel's, is cutting 12% of their work force.

you can allocate its bitcoin etf, just like with blackrock. its an exchange-traded fund has very low fees. you don't have to donate. you don't have to have the password. you don't have to spend it. you could just see it as an asset similar to gold. that's it doesn't make profits, but it is. it is currently an asset for sure. you got me convinced, ok? he didn't have to say much there with that. >> okay. let's talk about alcohol, not not a lot of the younger people are drinking alcohol anymore like they were about 20 years ago or so. >> yeah, and i pretty little too january december 31st. so now it's dry january. you the stocks that were alcohol related, like anheuser busch, recession proof not so much people under 35. only 62% drink. 22 you. 20 years ago, people under 35 72%. that's big drop of 10 percentage points. 2023 was the first plane ever in alcohol consumption. united states beer was down 4.4% consumption last year, wind down 8% spirits down. 3.9%. so companies like the idea which owns johnnie walker and guinness their stock was down 13

citibank, wells fargo, blackrock. all great. so financials are leading the market, which is what you really really want. don't want just tech stocks, ok? well, you mentioned consumer prices a moment ago exile. sure you've noticed everybody's been notice and it just up the price for a dozen eggs going through the >> roof. yeah, they're pushing $9 and counting. i'm for doesn't ultimately what we have here is transportation costs are expensive. we also have a big bird flue that spread through all 50 states last year. it's not killed over 130 million birds that lag. so it's gonna come down from here. but it's not going to go where we want you know, $3 and 64 3,006, $0.5 about him, which is where we were not too long ago. all right, ok, let's get to another story this morning typically, right. if i understand correctly, investors usually like it. when companies start cutting costs, meta says it's going to cut about 5% of its not elon musk, but mark zuckerberg earlier said it was because he wants to cut out some of their lowest perfor

we just ran one from a guy houston work for blackrock and knows a lot about esp's as result of that. he's become skeptical of it and wrote a big peace force, 3000 word sort of walking through i know this better than anyone is is and what it's not working. this is why it's not effective. that is the kind of peace, who else is going to run that come 3000 words about that? you can't fit that, "wall street journal" my degree but they can't fit that in there. what mainstream publication, "new york times" will never touch that, right? that's the advantage we have in terms of spots to be able to run the things the fault of the planks and all different arguments come from different perspectives but all united around that idea about the importance of free markets and standing firm on that. thank you so much for your time. >> thank you. [applause]