liz ann sonders, chief investment strategist at charles schwab. great to have you back with us. should we listen to the fed speak? should we look at the bond market? where do we look for cues on the direction of equities? liz ann: i think at this point in the cycle the bond market and what longer-term yields to was more of a short-term driver of equities than fed speak, for comments were things like the probability adjustments around the december meeting and thereafter. i still think what matters is what currently the market has built into expectations, a pivot to rate cuts starting by midyear this year. if you were to extrapolate the current set of conditions into the first half of next year, that simply does not justify a pivot to rate cuts. it may perfectly justify the fed staying in pause mode but not cuts. that is where they are still -- there is still a bit of a disconnect. it is not so much yields as a driver up and down. part of today is that you saw volatility come down in the treasury market. that may be as much of a key as a continued d

. >>> the restructuring of financial services company charles schwab continues. the company announced plans this week to close the downtown san francisco branch, going to close in december 1st, on top of that, charles schwab has confirmed that it is cutting up the 6% of its workforce, that means about 2000 of its 36,000 employees in 2021, the firm moved its headquarters from separate cisco to dallas. charles schwab said the changes are to ensure that the company remains highly competitive. building community through conversation. >>> the call a special event sponsored by the redwood city library today. it was called meet your neighbors, the goal was to plant the seeds of friendship. understanding, and except as for all. after a panel speakers, tennies were able to hold conversation with a specific neighbor, among the volunteers sharing stories, someone who lives with anxiety and a family which experiences the civil war in salvador prospectus with anything going on in today, today, it is important to learn about what someone else is going through. and again, just

details and the layoffs hitting charles schwab. after the charles schwab. after the break. travel. there is nothing like it dancing is my passion. but with my moderate-to-severe eczema, it hasn't always been easy. i was constantly itching. whatever i was doing now, i'm staying ahead of my eczema there's a power inside all of us to live our passion. and dupixent works on the inside, to help heal your skin from within. it helps block a key source of inflammation inside the body that can cause eczema. so, adults can have long lasting, clearer skin and fast itch relief serious allergic reactions can occur, that can be severe. tell your doctor about new or worsening eye problems, such as eye pain or vision changes, including blurred vision, joint aches and pains, or a parasitic infection. don't change or stop asthma medicines without talking to your doctor. healing from within is a powerful thing. ask your eczema specialist how dupixent can help heal your skin from within. charles schwab has laid off 2000 employees about 5% of its workforce as the financial services firm is working to c

that will do it for the lightning round. >> the lightning round sponsored by charles schwab. >> comingh the mall to get a read on the industry. next. trading at schwab is now powered by ameritrade, giving traders even more ways to sharpen their skills with tailored education. get an expanding library filled with new online videos, webcasts, articles, courses, and more - all crafted just for traders. and with guided learning paths stacked with content curated to fit your unique goals, you can spend less time searching and more time learning. trade brilliantly with schwab. in the u.s. we see millions of cyber threats each year. that rate is increasing as more and more businesses move to the cloud. - so, the question is... - cyber attack! as cyber criminals expand their toolkit, we must expand as well. we need to rethink... next level moments, need the next level network. [speaker continues in the background] the network with 24/7 built-in security. chip? at&t business. >> imagine if we could stop talking about the magnificent seven and start talking about the gap. it feels like's it's be

e*trade from morgan stanley >>> lightening round is sponsored by charles schwab. time for the lightening round. and then the lightening round is over. are you ready? start with charles in california. charles? >> caller: hey. how is it going, jim? >> good. how are you, charles? >> caller: pretty good. i'm fairly new on the scene, but i came across this stock called crisper therapeutic. >> they are doing great stuff. there has been good news there about some of the discoveries. i would not buy it all the way up here. i think it has to come down a little because the stock is losing a lot of one. let's go todaysy in florida. >> caller: boo-yeah. greetings from florida. >> absolutely. i learn something every day in this show. what's going on. >> caller: we want to ask the big kahuna what is the best market strategy to ride the wave of dell technology and not get bit? >> buy some here and wait for pullback. it's been a great stock. how about sam in colorado? >> caller: jim, how are you doing? >> i'm good. how are you? >> caller: i'm good. jim, i was home out of philadelp

liz ann sonders at charles schwab joins us next. this is bloomberg. ♪ ( ♪ ♪ ) ( ♪ ♪ ) ♪ (when the day that) ♪ ♪ (lies ahead of me) ♪ ♪ ( seems impossible to face) ♪ ♪ (a lovely day) ♪ ♪ (lovely day) ♪ ♪ (lovely day) ♪ ♪ (lovely day) ♪ a bank that knows your business grows your business. bmo. >> we are at this inflection point in the midst of the slowdown. >> pretty significant headwinds. >> seeing those cracks in the consumer. >> consumers are under pressure. >> there while it under pressure. >> the data we have gotten over the last few weeks have been on the softer side. >> the economy is decelerating. >> there has been this slide in oil prices. >> i don't think you want to take all the probability off the chance the fed has more work to do. >> the fed needs to give the market on its back foot. >> faces a tricky balancing act. >> a soft landing is incredibly difficult to pull off. >> people are going to get nervous about the state of the economy. >> we still do not know if it is a soft landing or grated downturn. >> are we going to

adam, you brought your stock picks with you, and your first one is charles schwab. >> yes. the american ingenuity portfolio say what's ingenious about charles schwab? it's an extremely well run business, it's also the largest broker in the world. as people got scared over the past year and took money out of stocks and put it into government bonds because they yielded more than 5%, obviously, that was money out of schwab's pool of how it could try to earn, right? if true interest -- through interest payments, financing, etc. and and now all of a sudden that money is finding its way back into portfolios which is good for -- stuart: it's 59 now. where's it going? >> probably going back to 75 or 80 where it belongs. it's trading right now at about 4 or 15 times earnings. -- 14 or 15. historically, it's traded at 20 or 21 is, which is a people if yum, but it's done a wonderful job. stuart: ford motor company. not like you to be buying an automobile company. >> yeah. well, i'll tell you what, the stock trades at 7 times earnings, the pe is 7. it yields 7%, how's that for a divide

foundation, the tepper foundation, the asness family foundation, the mckenna family foundation, charles r. schwab, and by the rosalind p. walter foundation, and damon button. corporate funding is provided by stephens inc. - dr. kimberly kagan, welcome to "firing line." - thank you. - you are a military historian, the founder and president of the institute for the study of war and you advised general david petraeus in kabul for 17 months during the afghanistan war. currently, there are two major wars underway, the israel-hamas war and russia's ukraine war. describe the mission of the institute for the study of war against the backdrop of these conflicts. - the institute for the study of war exists to help civilian leaders, policymakers, military leaders, and journalists and the american public understand what is happening in conflict zones around the world. isw conducts what we call open source intelligence analysis. one of the ways that we follow the war in ukraine is through watching or listening to how it is that the russians talk about combat operations in ukraine. they don't tell the truth. b

gentlemen, is the conclusion of the lightning round. >>> the lightning round is sponsored by charles schwab goes picking for reasons why any analyst could be down on a stock to own, not trade. next. ameritrade is now part of schwab. bringing you an elevated experience, tailor-made for trader minds. go deeper with thinkorswim: our award-wining trading platforms. unlock support from the schwab trade desk, our team of passionate traders who live and breathe trading. and sharpen your skills with an immersive online education crafted just for traders. all so you can trade brilliantly. >>> there's the apple you and i know, then there's the apple that never the twain shall meet. after last name eye quarter report, i found it on the nearly all the analysts are focused on the growth of china, phones, and werewolves. i am focused on the quality of the phone itself, the sky-high level of customer satisfaction and the amazing service industry. it just keeps growing and growing. also, look at the degradation in gross margins for the ipad. i look at all the new services people are signing up for. you pay

. >>> "lightning round" is sponsored by charles schwab. trade brilliantly. >>> it is time!me for the "lightning round." cramer -- say bye-bye -- [ buzzer ] and then the "lightning round" is over. are you ready skee-daddy? let's go to leanne in hawaii. leanne? >> caller: aloha, mr. cramer. thank you for taking my call. >> mahalo. what's happening? >> caller: the recent downgrade of fortinet. was it overdone? >> no, i want you in palo alto networks, panw. i think that's going much higher. let's go to scott in arizona. scott? >> caller: boo-yah, mr. cramer. >> boo-yah. what's up? >> caller: boo-yah, boo-yah. thanks for everything you do for all of us. >> i appreciate it. thank you, thank you. >> caller: i've got ai plays in nvidia, microsoft, adobe and meta, and i'm interested whether or not you think i should have more of a speculative play, ticker symbol path. >> no. that doesn't even belong in the same paragraph as the ones you just mentioned. stick to the ones you mentioned and if they go down, buy more of those. do not touch path. joe in new jersey? >> caller: hello, this

let me bring in charles schwab and company chief investment strategist liz ann sonders.y opinion all the hand-wringing over the "magnificent seven" is sour grapes and experts got it wrong. it is taking a more sinister dangerous plot cities. if something doesn't happen soon we're all doomed. what are your thoughts about the whole thing, the "magnificent seven," how much they weigh in the market and just how much it means as a proxy for our overall economy and market? >> first of all it can work both ways. as recently a year ago when the s&p was hitting its october 12th low the carnage was felt more by those same seven stocks, collectively down 41% last year, versus down 12% for the s&p. then you started to see it turn back towards stocks which didn't kick in earnest until march of this year when we had the mini banking crisis. so it can work both ways. what is interesting s&p global will do the adjustment to s&p doesn't do it on a regular basis. they don't look at a situation like this and call some emergency meeting and make the change. they do believe these types of thi

. >> for your money tonight, charles schwab has laid off 2000 employees as a final show.rvices firm works to cut costs. the layoffs combined with reducing its real estate footprint across the country are expected to say the company at least 500 million dollars per year. the cost saving measures come ahead of schwab's merger with a td ameritrade, schwab moved headquarters from san francisco to the dallas fort worth area. back in 2019, francisco based next door is joining a list of companies announcing layoffs, the social network service announced in its latest financial report posted today that they are cutting 25% of their workforce. the post says the layoffs are part of the company's cost reduction plan. and authorities are warning of a new wave of scammers looking to take advantage of seniors with the recent launch of the medicare open enrollment period. the scammers pretend to be with medicare and also pretend to know your personal information in hopes that you'll give over your social security number, what authorities are urging people to do some research before selec

foundation, the tepper foundation, the asness family foundation, the mckenna family foundation, charles r. schwab, and by the rosalind p. walter foundation, and damon button. corporate funding is provided by stephens inc. - secretary brad raffensperger, welcome to "firing line." - thank you. - many people may know you first and foremost as the georgia state official who, on januarynd, 2021, was asked by donald trump to, quote, "find 11,780 votes" in order to help him overturn the 2020 election, whicyou refused to do. viewers may not know that, before you were in politics, you were a structural engineer, and you have written that, "as an engineer, i think about the machinery of elections. "i think about the process." how has your engineering background prepared you to run elections in one of the country's most contested states? - well, it's interesting. thmechanization, the operation of elections is really something that is well suited for someone that is very methodical. and so for engineers, we're very methodical about the process. - that call with former president trump, you've written how it t

foundation, the tepper foundation, the asness family foundation, the mckenna family foundation, charles r. schwab and by the rosalind p. walter foundation and damon button. corporate funding is provided by: stephens inc. - ambassador tom nides, welcome to "firing line." - thank you for having me. - israel and hamas have now been at war for more than a month since hamas's terrorist attack against israel on october 7th. you have said the next 30 days are the most important in israel's history. why? - 'cause israel's trying to do four things at the same time, and they all contradict each other. - [hoover] what are they? - one is they're trying to rid the country of hamas. hamas needs to be gone. and that's complicated and difficult. second, they need to get these hostages out. - yeah. - so obviously, that runs in contradiction to getting rid of hamas 'cause it's complicated, obviously. third, they got to keep hezbollah out. they've got to keep the north safe. and obviously, that's complicated as well. and lastly, and very importantly, they got to do everything they can to prevent loss of palestinian

foundation, the tepper foundation, the asness family foundation, the mckenna family foundation, charles r. schwab, and by the rosalind p. walter foundation, and damon button. corporate funding is provided by stephens inc. [bright music fading] - welcome back to "firing line", dr. cornel west and dr. robert george. - thank you. - thank you, and we salute you for your show, building on the great legacy of this historic "firing line" show. - well, i am honored because you are both celebrated scholars and public intellectuals who come from remarkably different worldviews and profess different perspectives. dr. west, you are a professed non-marxist socialist, and dr. george, you are a leader in the theoconservative movement. - not sure i'd say that, but at least i'm not a marxist. i'm like cornel in that respect. [cornel and robert laugh] - and we're both christians though, we're bo christians. - you're both christians and you respect each other enough to disagree and to engage in serious and rigorous contest of ideas in a civil and respectful way. and you also have in common that you were both guests

. >> the lightning round is sponsored by charles schwab.a. up next. trading at schwab is now powered by ameritrade, unlocking the power of thinkorswim, the award-winning trading platforms. bring your trades into focus on thinkorswim desktop with robust charting and analysis tools, including over 400 technical studies. tailor the platforms to your unique needs with nearly endless customization. and track market trends with up-to-the-minute news and insights. trade brilliantly with schwab. ♪ unnecessary action hero! ♪ -missing punches? -unnecessary! -check reversals? -unnecessary! -time sheet corrections? -unnecessary! -unentered sick time? -unnecessary! -go! -unnecessary! -go! -unnecessary! -when you can take this phone, you'll be ready. -make the unnecessary, unnecessary. let your employees do their own payroll. >>> our government is trying to make nice with china. soon biden will be meeting with --. they seem to be determined to project -- against i want even of the philippines. but now they are trying to -- like the ones made by nvidia. w

. >> the lightning round is sponsored by charles schwab. >>> coming up, the economy can be one big puzzless it. trading at schwab is now powered by ameritrade, unlocking the power of thinkorswim, the award-winning trading platforms. bring your trades into focus on thinkorswim desktop with robust charting and analysis tools, including over 400 technical studies. tailor the platforms to your unique needs with nearly endless customization. and track market trends with up-to-the-minute news and insights. trade brilliantly with schwab. >>> i'm tired of playing the parlor game of guessing the fed's next move. things are going the feds way. does not have to be pushed more than it already has. things are going downhill. you don't have to chase it and push more. there is no need for the fed to push with more rate hikes. pushing 77 bucks and 4%. that's terrific. last year, just under seven bucks. people get their heat from natural gas. these are huge wins. we know that homes are up 35% from the pre-pandemic benchmark. people simply cannot afford to buy homes that the current interest rate of 3%. no

. >> the lightning round is sponsored by charles schwab.iving player has reached the rumble strips. cramer takes the wheel, next. >>> tomorrow, kick off the day with squawk on the street. >> my haircut? >> freebie, now we get the truth. >> buy one get one. i guarantee it. >> it is a freebie, the logan's burg special. >> it starts at 9:00 a.m. eastern. >> thank you for everything you do, wonderful source of information. >> thank you for all your advice. >> your advice let me quit a job that i hated. i love you to death. >> you are keeping us from losing money. trading at schwab is now powered by ameritrade, unlocking the power of thinkorswim, the award-winning trading platforms. bring your trades into focus on thinkorswim desktop with robust charting and analysis tools, including over 400 technical studies. tailor the platforms to your unique needs with nearly endless customization. and track market trends with up-to-the-minute news and insights. trade brilliantly with schwab. so... i know you and george were struggling with the possibility

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. >>> coming up on "worldwide exchange," charles schwab's liz ann sonders is with us and the stock picke fed's higher for longer decision. stay with us. power e*trade's easy-to-use tools, like dynamic charting and risk-reward analysis help make trading feel effortless. and its customizable scans with social sentiment help you find and unlock opportunities in the market. e*trade from morgan stanley. with powerful, easy-to-use tools, power e*trade makes complex trading easier. react to fast-moving markets with dynamic charting and a futures ladder that lets you place, flatten, or reverse orders so you won't miss an opportunity. e*trade from morgan stanley meet gold bond daily healing. a powerhouse lotion that moisturizes, heals, and smooths dry skin. with 7 moisturizers & 3 vitamins. and... new gold bond healing sensitive. clinically shown to heal & moisturize dry, sensitive skin. gold bond. >>> welcome back to "worldwide exchange." time for the "wex wrap-up." we start with the department of justices investigation of the ticketing scandal for ticketmaster. the agreements to book talent an

let's bring in jeff in charles schwab. good to see you. >> good morning.ving me on. >> i want to take your temperature. we're seeing futures up. with that in mind, what is your w.e.x. word of the day? >> my word of the day is "anecdotes." the fed uses this collection of anecdotes from banks and businesses across its districts to gather insights into the lag pace of rate hikes and the manufacturing downturn which may impact the timing for your the pivot of rate cuts next year. i'll give you a quit example. staffing firms noted that candidates were more realistic in their salary expectations and they noted that candidates were more willing to expect positions. i think this is interesting for a market that's hard to glean from the overall job numbers. >> i want to get your take on something. a note came out earlier today, first thing this morning, talking about the fed's policy and the possibility of rate cuts. here's what he's saying in part. they peaked before eight of the past ten recessions. the optimist which includes him are not expecting a recession th

. >> the lightning round is sponsored by charls schwab. >>> coming up, a simon property group we trusteal deal on real estate, next. the award-winning trading platforms. bring your trades into focus on thinkorswim desktop with robust charting and analysis tools, including over 400 technical studies. tailor the platforms to your unique needs with nearly endless customization. and track market trends with up-to-the-minute news and insights. trade brilliantly with schwab. - i got the cabin for three days. it's gonna be sweet! what? i'm 12 hours short. - have a fun weekend. - ♪ unnecessary action hero! unnecessary. ♪ - was that necessary? - no. neither is a blown weekend. with paycom, employees do their own payroll so you can fix problems before they become problems. - hmm! get paycom and make the unnecessary, unnecessary. - see you down the line. have you met them yet? [ gasp ] [ screams ] >>> during earning season, i like to look for stocks that change their trajectory in response to the quarter. winners become losers or maybe losers become winners. it gives you an opportunity to reevalu

[announcer] charles schwab is proud to support the independent financial advisors who are passionatelyo helping people achieve their financial goals. visit findyourindependentadvisor.com hive digital technologies. a leading bitcoin miner and gpu cloud operator is building the infrastructure of tomorrow, featuring a robust growth strategy that aims to double its mining capacity while accelerating gpu-on demand business. hive digital technologies. the last eight years have been the hottest in history. canadian north resources plans on doing its part to combat the climate crisis by developing a vast resource of critical minerals for clean energy initiatives worldwide. canadian north resources. this is spring semester at over 13,000 us school districts, which have become top targets for ransomware attacks. but there's never been a reported ransomware attack on a chromebook. which is why thousands of schools like the fairfield-suisun unified school district switched to google tools for education. so they can focus on teaching and 22,000 students can focus on learning, knowing that their dat

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charles schwab announcing an unfortunate significant reduction in head count. it's beginning. the lags are taking hold, and the economy is going to contract and, therefore, you have two powerful force that is work to the advantage of bond investors. >> he, bryn, druckenmiller, thinks you're going to get the resteepening of the yield curve, the short end will start going down on economic concerns more than anything else so you buy a massive position there. the yield curve is a precursor to the recession which he must think is on the horizon based on what he said. >> we've seen a steepening of the yield curve. the steepening has happened on the long end of the curve. i think a macro trader like stan says over the next two years i can have a bird in the hand 5%, i'll take that all day long. that seems to be a very good trade. outside of some munis on the longer end, i think bonds, long duration bonds, you're going to grow safely. i'll take cash and munis. >> scott, here is the risk of cash right now. it's reinvestment risk. anyone who buys a six month or a one year or two year an

guy: the chief investment strategist at charles schwab speaking earlier on.s us back to the question of the day. do you now fade the rally? joining us now, zeynep ozturk-unlu, deutsche bank head of solutions for central europe and the united states. nice to see you, as ever. are your clients getting ready to fade the rally? how are they thinking about this santa claus rally that seems to have already arrived? zeynep: in portfolios we run longer-term provisions -- longer-term positions, and this is the advice we give our clients. we like to buy the dip. it was this concept we have been talking about since the beginning of the year, and we have been getting into equities in particular when there is a dip, and the rally shows a great performance in the portfolios, which gives motivation to investors. and if people are asking to get more, we then say, it is time to kind of be more sensible and stay where we are rather than piling further risk. in a way we are not shying away from risk of what we have already built, but we are not building on further. and this is

gentlemen, is the conclusion of the lightening round >> the lightening round is sponsored by charles schwabto the nay sayers cramer shines a light on what's worked this earnings season. next ameritrade is now part of schwab. bringing you an elevated experience, tailor-made for trader minds. go deeper with thinkorswim: our award-wining trading platforms. unlock support from the schwab trade desk, our team of passionate traders who live and breathe trading. and sharpen your skills with an immersive online education crafted just for traders. all so you can trade brilliantly. (sfx: stone wheel crafting) ♪ the biggest ideas inspire new ones. 30 years ago, state street created an etf that inspired the world to invest differently. it still does. what can you do with spy? ♪ >>> even after today i keep hearing how we've seen a real slow down this earning season. yet other than big ticket discretionary items i don't see it other than whir pool and pfizer i've been very impressed it's almost all these earnings is coming from a parallel universe i'm not just going by gut feeling. according to data the

may maybe charles schwab's strategist liz and saunders has insights. this has been an unbelievable november. what is the collective driver of it? >> it is somewhat singular, if you credit the bond market. it went from late july to late october corresponding to the spike in yields and the 10 year as an example or proxy so you went up to 5%. you have a reversal and moved down and that set the stage for the rally in stocks. the bond market is in the driver seat of the equity market and that is going to be a situation. charles: liz: we are at 6. 4%, the close yesterday was 4.27. it's interesting to see we are up under normal circumstances that would send the markets into a tailspin. we haven't talked about this is that much. yield curve inversion between the 2 and the 10 has been screaming for a year and 1/2 that we are facing recession but we have such a banker of a gdp number growth of 5.2%. how are we supposed to read that? >> gdp is a lagging data point through september and we know all the component parts that go into gdp so far into the fourth quarte

if cryptoconcernty becomes a scape l, i'll argue it won't but if it did, people can trade at charles schwab or wherever they're trading money. don't want them to lose money in crypto. stuart: macys workers went on strike and want something done to combat the brazen thieves that threaten their safety. we'll have john ka when they coe back. soldiers refusing to get the covid-19 vaccine. what happens when there's another pandemic with a much higher death rate? should soldiers have the choice not to be vaccinated in that's a difficult question. the truth between hamas and israel extended for two more days but israelly forces say the truce has been violated. trey yingst and the latest from israel next. ♪ the chase ink business premier card is made for sam who makes, everyday products, designed smarter. genius! like 2.5% cash back on purchases of $5,000 or more, so sam can make smart ideas, a brilliant reality! chase for business. make more of what's yours. honey, i think i heard something. ok. ♪ from christmas tree mats... to floorliners... cargo liners.... no drill mud flaps... seat protectors.

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vonnie: some other corporate stories we are tracking, charles schwab has been discarding more than 2000utting more than 2000 jobs. the company is trying to find half $1 million in annual cash savings with cash flows falling as it integrates pd america. it is hard but necessary, steps. rhythm capital is planning to acquire a hedge fund firm, he could wipe out more than $30 million of shares that they owned. this follows a separate legal challenge pending in delaware. singapore's financial regulator has banned dbs from acquiring management and has been barred from producing his local branch -- reducing his local branch and local network. the changes in sure that the bank focuses on restoring the resilience of its online banking services. haidi: new measures to fight money laundering following the recent seizure of more than $2 billion in assets from unsuspected gains. big banks will be punished if the correct procedures are not put in place. >> some people believe that it actually enhances our image as a cleaner, no-nonsense place because we moved very strongly against a very large networ

kari, you bought more charter and charles schwab give me the reason why and we'll take a break >> charter is a stock selling for 13 times earnings, spending money on capital because of buildouts in rural communities which will begin next year interest rates have been high. that's hurt them and this is now a time we think interest rates are, you know, slowing to coming down they're going to start to see free cash flow from the markets. on schwab, again, it's a low multiple stock, 14.5 times next year we're almost through with cash sorting. people moving money into higher yielding money markets and perhaps those rates again are going to come down they have integration benefit from the ameritrade deal, and we think this is a premier company selling at a cheap stock in an environment that is going to be better for their customers and for them >>> all right. let's take that break. when we come back, targeting disney shares higher as another activist taking aim at that company. we are breaking down the fallout. we'll trade other names as well and will do it in two minutes. what do you see on th

our next guest warns of market indig indigestion charles schwab chief investment strategist joins usepends on the yields. yields are in the driver's seat. indigestion would come to the extent you get an outside inflation report or stronger economic reports which causes this retreat in yields to the benefit of equities in the case of the 10-year from 5 down to 4.5, sub4.5 today. i think any move back higher as we learned in the correction starting in late july, i think would be tough for the market to handle in turn a big drop in yields is not the right ingredient i think that would probably lead to some indigestion. i think stability in yields is probably the most important ingredient for this rally to have legs. i do still think yields are in the driver's seat. >> no question about it. i was going to ask you if the move from over 5% on the 10-year to now 4.44 has caused a change in thinking and your view of the market overall because we are away from those sort of higher, scarier yields, which we didn't know what it would do to the economy. >> right they weren't there for long enoug

[announcer] charles schwab is proud to support the independent financial advisors who are passionatelysit findyourindependentadvisor.com only the sleep number climate360 smart bed lets to helping people achieve their financial goals. you both sleep up to 13 degrees cooler or warmer on either side, and at your ideal level of comfort. your sleep number setting. and now the new queen sleep number® c2 smart bed is only $899. sleep next level. shop now only at sleep number >>> final trade time. julie beal. >> you know, the home builders always give me a little bit of heartburn, but simpson ssd gives you structural support for the home builders. you don't have to get the geographic right. >> tim? >> shout-out to audrey watching at home. ewz brazil. i think it has room to run. >> hello, audrey. >> west rocket traded up in the a hurry. expect it to go higher tomorrow. >> what's tomorrow, mel! >> saturday. >> happy birthday, melissa lee! >> whoo! >> 32, the big 3-2. >> 3-2 ainga. >> eagle mines. >> all right, >>> my mission is simple. to make you money. i'm here to level the playing field for a

[announcer] charles schwab is proud to support the independent financial advisors who are passionately goals. visit findyourindependentadvisor.com when you think of investment risk, do you consider climate risk? changing weather patterns are impacting the way we live and the value of businesses large and small. this can mean disruption to supply chains, changing demand for products and shifting regulation. what does this mean for your business, your clients, and your investments? ice offers data and markets that can provide critical insight. manage your climate risk with ice. >>> all right. disney reports next week. brian belski, go first. >> oh, yeah. >> you and every other disney shareholder has the same reaction, though this week it's up near 8%. >> we made a mistake, and the reason why we made a mistake is we took a little bit too long in our theme for communication services cash content and consolidation, and we really believe bob iger coming back, we bought into the management team. we do believe he's trying to create more of a scarcity proposal and trying to cut content and tryi

. >>> the lightning round is sponsored by charles schwab.shopify, small business, and the underground economy. cramer has more next. meet gold bond daily healing. a powerhouse lotion that moisturizes, heals, and smooths dry skin. with 7 moisturizers & 3 vitamins. and... new gold bond healing sensitive. clinically shown to heal & moisturize dry, sensitive skin. gold bond. >>> take your cell phone out. go to bfcm.shopify.com. watch the black friday numbers while you're listening to me. you're watching as the president of shopify said to me, the super bowl of entrepreneurs, this weekend belongs to them. look at the sales number go higher, as one of the most inspiring things i have seen. offering everything from point of sale to shipping. so $4.1 billion in sales and the platform for black friday. up 22% from last year. we can put the data into the mosaic, people are spending so much, should be worried about an overheated economy. we don't have brick and mortar, and amazon reportedly spent $100 million, driving more traffic than usual at their s

. >> the lightning round is sponsored by charles schwab. >>> coming up, a new cohort of wonder drugs stocks. don't miss cramer's take on the best one yet next. ameritrade is now part of schwab. ♪ ♪ tailor-made for trader minds. go deeper with thinkorswim: our award-wining trading platforms. unlock support from the schwab trade desk, our team of passionate traders who live and breathe trading. and sharpen your skills with an immersive online education crafted just for traders. all so you can trade brilliantly. ♪♪ we're not writers, but we help you shape your financial story. ♪♪ we're not an airline, but our network connects global businesses across nearly 160 markets. ♪♪ we're not a startup, but our innovation labs use new technologies to help keep your information secure. ♪♪ we're not architects, but we help build stronger communities. ♪♪ we're not just any bank. we are citi. ♪♪ >>> this weekend we got some amazing data from novo nordisk this is data on the new diabetes and weight loss drug with ozempic and wegovy and there were 20% less cardiac events among the target population of

joining me now, kevin gordon of charles schwab. >> hi, scott.d to see you. >> breath not consistent with a strong durable bull market, price construction outside of magnificent seven is lacking, got to be cautious. we've been saying this for like 10 1/2 months. when does it not matter? >> i will say some of it started to change in mid summer and we started to get constructive when all of that that you just listed started to improve. you saw breath metrics start to improve, small cap markets start to get some. >> no traffic. >> no head traffic but it was a head fake. july was the most recent peak, but also we saw more of a negative divergence where even though earnings beat rates started to improve, you haven't seen as much of a durable improvement as you move down the cap spectrum. so we're kind of in this scheme we've been in where now in the latest events from late october you've had mag caps leading the way and then everything else has been sort of just lacking. i will say in terms of the advance and whether it's sustained, you do have some p

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[announcer] charles schwab is proud to support the independent financial advisors who are passionatelynd prix choose t-mobile for business for 5g solutions. because t-mobile is helping power operations and experiences for hundreds of thousands of fans with reliable 5g connectivity. now's the time to accelerate your business. >>> let's look at the markets for today and week-to-date. there you see the kind of move we've had. this is either the best or second best week of the year. the dow industrials up 5, 6 for the s&p and almost 7 for the nasdaq. how about the russell, as morgan points out. >> the russell is up 8%. i will confirm it, it is the best week if we hang onto these gains for the year for all the major averages. it's the best week for the s&p 500 since june of 2022. every sector is in the green for the week as well. of course, we've seen this as yields have fallen. >> yields have come down. >> macro data, including the jobs report is softer. >> came in --s it a goldilocks jobs report. it's been great to have you with us today and this week. hope you made some money. thanks for

[announcer] charles schwab is proud to support the independent financial advisors who are passionatelychieve their financial goals. visit findyourindependentadvisor.com >>> welcome back. three minutes left in the show. a few more stories starting with the fact that it's been a rocky restart for federal student loan payments. a department of education memo published last night details thousands of errors made in just the past few weeks including one borrower being told they show $108,000 for the month of october, john. >> the problem here, i think, is that to the government that's not a lot of money to owe in a month. look how much the government owes. you have to answer them in their language. my house doesn't have a speaker. we can't pass a budget. sorry, we're shut down. >> i will be issuing more treasury bills to help cover that cost. >> and the hot, new seat on the plane is not at the very front. not quite business class, definitely not coach, premium economy cabins are hooking travelers willing to treat themselves to extra comfort for about twice the price of a normal coach seat o

droves because of the major employers move their headquarters out like oracle, human packard, charles schwabp metal black fencing at the site were 21 world leaders will meet the administrations of the discussion will allow the city to shine. >> a lot of crossover, there are certain government in the end of pacific looking how closely they manage the support to ukraine in israel and may be divinely certain lessons from that it's all the more important that we have this discussion as inferences go. >> president biden will be here tomorrow he will not see the true san francisco city, back to you. david with me for the next couple minutes you have anything to say about the meeting. >> i share your concern that biden will show the strength that we want and i don't want to give it away something for climate concession but i want to be clear in the most nonpartisan way you want this meeting to happen you don't want our leadership not meeting with them nobody wants is escalating with china i don't have a lot of confidence to get a better deal but we will see what comes out of it and i do hope that y

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>> charles schwab. for a couple reasons. the t.d.e another $1.3 trillion in assets. the big thing when you think about the banks, they had a tough time. but i was looking at the earnings. one thing that stuck out to me, they're looking at the cash sorting, so the move from their interest bearing accounts, to these higher yield with funds or different cash yield funds, they're seeing that slowdown ease off a bit. i looked at the valuation for sh one, they're trading favorably here, so with the rigorous expense control, they do historically -- i think it's a good move to look at schwab. >> solar has been on the news this week. how can i be a high roller in solar? >> i like fslr here. when you think of a solar company, this is a growth company and relatively stable comparatively, when you look at the market caps of the other solar companies. 2024, they're looking at earnings going up 65% roughly. so if you look at their forward pe at ten times, it's an undervalue play. so last quarter compared to one of the biggest competitors, their re

. >>> charles schwab cutting more jobs. the company used to be based in san francisco and it's moved to texas. it announced cuts before the weekend. analysts say they were surprised by how deep the cuts were. >>> reuters says tesla is planning to build a super low cost electric car at its plant in berlin. low cost like $25,000. that would be similar to a nissan versa or a small kia. tesla has talked about this idea but never with specifics. tesla raising wages at that same factory, up 4%. tesla's factory in germany is the only major car factory not unionized. tesla employees both there and here saw huge raises that united auto workers got. uaw president shawn fain said about the workers in germany, it's going to come down to the people that work for him deciding if they want their fair share, or if they want him to fly himself to outer space at their expense. elon musk's new artificial intelligence company xai announced a new chatbot over the weekend. it's grok. like chatgpt, but with a smart aleck attitude. the company say

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