next our exclusive interview with citigroup's jane fraser on her five-euro turnaround plan.loomberg. ♪ tom: citigroup ceo jane fraser is entering the final stages of her efforts to symbol phi and streamlined the american bank. investors remain tepid with the stock lagging behind peers and analysts predict and she will miss her 20 26 profitability goal. fraser spoke exclusively to bloomberg's sonali basak. >> my ambition is to be a high returning, high quality earnings, modern, simpler institution that continues to play a shaping role in the global financial system. we are truly privileged to be in as many locations as we are with a talent base with such a global mindset. and an ambition about it. we have got the right strategy and vision. we are executing with the right organization. making sure we have the right talent and culture in the firm. we are simpler and a well-controlled modern organization. >> if you could give yourself a grade behind the research ring plan, what would you give yourself? >> we aren't done yet. i have always had this is a multi-your journey. we are

since the election we have seen financial stocks outperform and in particular citigroup shares. the cfo today announcing that the firm is set to hit the high-end of its 2024 revenue guidance, and once there is more clarity on the outlook for capital, the bank does intend to boost share buybacks. citi is the subject of today's "big take" story, in which the ceo jane fraser says she needs five years to pull off the elusive turnaround, and now that we are halfway through that period, she says she is committed to those goals. she spoke exclusively to sonali basak. jane: my ambition is to be a high-returning, high-quality earnings, modern, simpler institution that continues to play a shaping role in the global financial system. we are truly privileged to be as -- in as many locations as we are with the talent base and such a global mindset and an ambition about it. i think about we have the right strategy and vision, we are executing with the right organization, we've -- making sure we've got the right talent and culture in the firm, and that we are simpler and more controlled organi

you can see the crowd on the floor watching him, included in that crowd ceo of citigroup, the boss of goldman sachs, not your average crowd at the new york stock exchange, i must say, but certainly an exciting day. you can hear the cheers from the floor, perhaps not so surprisingly given the run up we have seen in financial markets since donald trump was elected on november five. markets since donald trump was elected on novemberfive. that said, it does not look like president electron can enjoy a strong opening. they are printing and reflecting on the time person of the year cover, posing for photos to mark the occasion. they are revelling in one of the most visible symbols of success, which is bringing the open bell, a long tradition here in the united states. you can see with his wife, posing for a couple of selfies, as is the way these days. and there you can see one of trump's cabinet, he was heavily involved in the transition process and recruiting people. there you have it, the crowd waiting for the first trader to take place on the day, that is usually a bit of a delay after w

, the crowd was made up of some of the biggest names on wall street, the ceo of goldman sachs or citigroupmegarich donors during the campaign. they were all there in the crowd and said of the usual market watchers you also see. he spent time i understand talking to some of the traders on the floor, this is a place used to seeing celebrities, dignitaries, politicians around the world, but they often do not spend that much time on the floor. i understand donald trump took the time to speak to many people there and the reception was very warm in part. because of that trump bump. find was very warm in part. because of that trump bump.— of that trump bump. and joe biden defending _ of that trump bump. and joe biden defending his - of that trump bump. and joe | biden defending his economic record, saying he has been left with a really healthy economy, and everybody is looking at the state of the economy, what it will be under donald trump and whether he can fulfil the promises he made on the campaign trail, that he reiterated again today. he inherits a _ reiterated again today. he: inherits a str

look at jp morgan, b of a, citigroup, all in the red, several of the country's biggest banks are setsue the federal reserve over the annual stress test. take a look at european markets, ftse, cac 40 are green, dax in the red. asia overnight, markets mostly higher. the hang seng closed, nikkei, shanghai higher, kospi a little lower. joining the conversation all morning long today we've got the lonski group founder, john lonski, and west front strategy founding partner, ashley davis. and "mornings with maria" is live right now. ♪ cheryl: it is time for the hot topic of the hour. president-elect trump's upcoming inauguration just 25 days from now, on track to become the most lucrative one yet. inauguration officials estimating that trump will rake in far past the 107 million that he raised in the first inauguration. president biden raised $61 million, just to give you contrast there. big companies are also going all-in for trump. amazon, meta, open a.i., ford, iint uit donating to the fund. goldman sachs, gm, b of a, at&t and stanley, black and decker also contributing. this is shaping

citigroup up nearly 2%. let's bring in jacob sonnenshein.ob, which stocks -- let me begin here -- which stocks are on your shopping list. >> oh, yeah. it's time to start looking at some stocks to buy. you just mentioned big tech is really carrying the rally. there's a lot of stuff over the last few weeks has really, really been down. i love novo nordisking, it was the down about 20% in one day because a new weight loss drug that it's putting through trial right now didn't have the effectiveness that people wanted it to have, but it's still pretty effective. you still have two big players, eli lilly and novo nordisk, that are going to sop up tens of billions of dollars in what is a growing obesity drug market. novo nordisking is going to grow earnings 20 percent annually for some time. when you're getting that type of growth in this market, paying 22 times earnings is not that bad. i love novo at this price. ashley: you know, jacob, many, you know, market observe ors will ten you it's great -- will tell you it's great we've had the leadership

. >> you're picking citigroup. i've got two questions. really? and why?] >> well, a perpetual underperformer. it's been the worst among the big banks. i think it finally could be turning around. jane phrase frazier's been the ceo, she's refocused it. their three largest businesses have good, international payments, investment banks as well as one of the top credit card companies. the stock's pretty inexpensive right now, 3% dividend yield. it's the only to one of the big banks trading below tangible book value, so mike mayo, the analyst at wells fargo, it's his top pick. he thinks the stock could eventually double. >> schlumberger, or slob as the old times call it. what do you like there? >> s.o.b. is the ticker, hence the nickname, slob. it used to be dominant as far as what growth investors wanted. it's been out of favor. the strock's -- stock's trading around 40, but i think oil's going to be around and natural gas is going to be around for decades. it's going to be servicing that industry. stock's around 40 which is is 1-12 times next year's earnings.

fortune 100 companies such as goldman sachs, comcast, citigroup. the typical board member of these fortune 100 companies. we know titans of their industry. they're highly qualified. and as such, they're well compensated. even so, hunter biden was paid significantly more. this is how well he was compensated. did so. hunter biden is paid over $83,000 a month while the average american family of four during that time each year made less than $54,000. and that's according to u.s. census bureau during that time. and this is what's been reported about his work on the board. the washington post said, quote, what specific duties hunter biden carried out for burisma are not fully known. end quote. the new yorker. quote, once or twice a year, he attended burisma board meetings and energy forums that took place in europe. end quote. speaking with abc news about his qualified commissions to be on burisma's board. hunter biden didn't point to any of the usual qualifications of a board member. hunter biden had no experience. natural gas, no experience in the ene

wells fargo outperforming citigroup by more than 500 basis points year to date. three-fourths of analysts have buy ratings compared to over majority for wells fargo. both banks undergoing their own transformation, shedding underperforming and parts of their portfolio, while also contending with regulatory uncertainty due to a slew of consent orders. for wells fargo, the big potential catalyst for 2025 is the potential removal of its asset cap. this $1.95 trillion ceiling was imposed in 2018, if you recall, following the accounts scandal. reports indicated it could be lifted during the first half of 2025. meanwhile wells fargo has been simplifying the business, pairing back areas they see as less strategic like mortgages and investing in investment banking and credit cards, which executives there see as having more upside. citi too is facing some regulatory uncertainty as it embarks on its own strategy shift. the occ and fed in july said they made insufficient progress on reporting, which ceo, mark mason, confirmed last week is still a prevailing issue. in the mea

jpmorgan on one side, it's unassailable, then citigroup up and wells fargo among the big banks and theyany problems, but they can be fixed and that gets people excited. then you have bank of america which is kind of blah. but when i picked it back in april, i said the stock will do okay. it's up more than 20%, and i think it's going to continue to do well into 20 that. -- 2025. the fed has cut rates and, you know, will keep doing a little bit of that. and then you have trump which is a very good thing for bank stocks. jack: okay. what's one you could take back? sem, and, a company from mexico that picks cement and gavel. i thought this was a cheap way to play u.s. stocks that have high multiples and, boy, i got it wrong. i think the biggest problem is it's from mexico, and that's not a great thing right now. investors aren't looking for that, and it's just not as good a company. jack: all right. elizabeth, you had an interesting pick here. it didn't do so well, but you are sticking firmly by it. >> yes, i'm standing by nike which is down about 2 11th since i -- 21%. inhasn't add -- it h

citigroup suggesting brent will be in the 60's.oes that seem reasonable as an assumption given what we know now? >> yes, putting aside the political dimension, market fundamentals in the absence of significant stimulus in china, it is not unreasonable to look at prices between the 60's and 70's or a little bit more, but this is a current market sentiment. it will change depending upon how the situation will unfold in the coming months. tom: founder and ceo of crystal energy on what we can interpret from this situation from opec+ to delay putting more barrels on the market, delaying until april, so that story around the surplus will continue. thank you very much. we bring you live shots once again from the national assembly in seoul. you see lawmakers standing at this event. the situation is clearly volatile. we are getting reports from local media saying upland address by the speaker of the national assembly has been canceled and reports that president yoon who made the shock announcement around the martial law that the president h

companies like synchrony financial and citigroup have been raising rates on retail cards, and some ofm have been adding extra fees for paper statements. a hollywood legend is putting his baarea housey famous owner is up for sale. yes. actor and director robert redford is selling his home in tiburon. want to give you a look inside? it is four bedroom split level cottage built in 1968. home is 2800ft■!s with a view of the bay, including angel island, public records show redford bought it in 2020 for $3.1 million. the home is now listed just over 4 million. stunning views. don't forget to watch our newscast 24/7 on roku, pluto and other streaming platforms. raj mathai joins us now with what's coming up next at 530. it's a busy tuesday night. here's what we're working on. uncertainty in south korea after the country's president declares martial law. and then reversed his decision. how korean americans in the bay area are reacting to this unfolding crisis. we investigate a growing issue involving special education students. the reason some are saying they don't want diplomas, because a pus

. >> you're picking citigroup. i've got two questions, really? and why? >> well, you know, citi's been a perpetual underperformer. it's been the worst among the big banks. i think it finally could be turning around. jane frazier's been the ceo for the last couple of years. she slimmed it down. she's refocused it. there are three largest businesses that are actually quite good. one is international payments, another is an investment bank, as well as one of the top credit card companies. and the stock is pretty inexpensive trading right now, trading around ten times next year's earnings. 3% dividend yield. it's the only one of the big banks trading below tangible book value. and so mike mayo, the analyst at wells fargo, it's his top pick. he thinks the stock could potentially double over the next couple of years. >> okay. and schlumberger or slob as the old timers call it. what do you like there. >> well so slb is the ticker, hence the nickname slob. it used to be a dominant company in as far as what growth investors wanted. it's been out of favor. the stoc

goldman sachs citigroup. the u.s. chamber of commerce the ohio bankers league and the ohio chamber of commerce, they're filing litigation against the fed and they're really challenging the legal aspects of the stress tests. they call it the opaque aspect of stress test. while it's an important risk management tool for advisers the lawsuit seeks to resolve longstanding legal violations by subjecting stress test process. here's the backstory, the banks have been upset with the stress test process, this has been going over 15 years, as a result of the financial crisis to try to reassure the public that the system is safe. the problem is, it has been shrouded in secrecy as far as the methodology and it never received public comment in order for it to go into law which apparently is something the banks are challenging the legality here, why now, as i understand it, the statute of limitations is up a few days after january for the banks to be able to challenge this. which is why interestingly the federal reserve yesterday r

fortune 100 companies such as goldman sachs, comcast, citigroup. the typical board member of these fortune 100 companies. we know titans of their industry. they're highly qualified. and as such, they're well compensated. even so, hunter biden was paid significantly more. this is how well he was compensated. did so. hunter biden is paid over $83,000 a month while the average american family of four during that time each year made less than $54,000. and that's according to u.s. census bureau during that time. and this is what's been reported about his work on the board. the washington post said, quote, what specific duties hunter biden carried out for burisma are not fully known. end quote. the new yorker. quote, once or twice a year, he attended burisma board meetings and energy forums that took place in europe. end quote. speaking with abc news about his qualified commissions to be on burisma's board. hunter biden didn't point to any of the usual qualifications of a board member. hunter biden had no experience. natural gas, no experience in the ene

it ites a positive industry back drop and announcement of the credit card deal with citigroup.s pinterest and faces a competitive advertising landscape. shares off 2% in the pre-market trade. >>> ahead, the one word that every investor needs to know today and the stock pick every investor needs to know as well. >>> plus, toal ll brothers faci pressure and our next guest says now may be the time to get into the stock. we'll be right back. have you ever considered getting a walk-in tub? well, look no further. proudly made in tennessee, a safe step walk-in tub is the best in it's class. the ultra-low easy step helps keep you safe from having to climb over those high walled tubs, allowing you to age gracefully in the home you love. and now, back by popular demand, for a limited time, when you purchase your brand-new safe step walk-in tub, you'll receive a free shower package! yes! a free shower package, and if you call today, you'll also receive $1600 off. now you can enjoy the best of both worlds. the therapeutic benefits of a warm, soothing bath, that can help increase mobility,

former republican congressional candidate of new jersey, citigroup vice president of federal governmentations and barbara shrek, and fred hicks. just a couple of minutes with you both. i want to get to fred, to you first. i wonder what's going on in your head right now. do you believe this "washington post" report? is the president not getting the same numbers we're seeing? >> i think it's normal for someone to live with a bit of regret particularly given he was ushered out of the race in july of 2024 this year. but the reality is this. he is limiting decisions, reflecting but what he is not doing is calling on people to storm the capitol. he is encouraging democrats to be part of a peaceful transition. he plans to attend the inauguration january 20th. something that president-elect trump did not do. something that is normal and we watched it play out publicly over the last four years. >> aishah: should he have regrets he didn't drop out earlier? that's what democrats in his party feel he should have done. >> that's true. listen, as the reporter mentioned 75% of democrats said they did

citibank is out with a forecast, citigroup, that there will be 650 million versions of optimists by 2050, $7 trillion market. stuart: these projections of enormity. see if you can get people to start drinking more wine because we are in the wine business and not getting a resurgence resurgence of wine drinking. coming up, chilling new details about the shooting of the united healthcare ceo as the manhunt for the gunman is still underway. preemptive pardon, the white house is reportedly discussing pardons or biden allies, lose cheney, adam schiff, we are all over that. ukraine officials holding talks with incoming trump administration reportedly open to a peace deal with russia. former assistant defense secretary elbridge colby on what that deal might look like next. some things that work better together. like your workplace benefits and retirement savings. voya helps you choose the right amounts without over or under investing. across all your benefits and savings options. so you can feel confident in your financial choices. they really know how to put two and two together. voya, well pl

caroline: who has been serving you in this ipo are goldman sachs, morgan stanley, wells fargo, citigroup10 other banks working on the deal. if your shares do pop by more than 100% do you think they have done a good job or bad job? vahe: we have been incredibly grateful to the partners we have had throughout this process. this is our first time doing this, so having people we trust around the table, shepherding us through the process has been really great. for us it does not matter where the price ends today. we are focused on the long-term and what we care about is building a generational business. caroline: at the moment the business is lossmaking. is that going to change into 2025? ara: we are grateful to be cash flow positive, and have been for the past few quarters. that puts us in control of our destiny and allows us to continue to invest in the success of our customers, which is what is ultimately going to drive our own success. the same thing that has gotten us to this point is the same thing that is going to get us toward this mission of building the system for the trades. caroli

citigroup, bullish on micron technology, that's giving them a 2% gain. >> they reiterated thereby andrget because they expect results wednesday after the closing bell, to be okay guidance might be below consensus but city is saying don't worry about it that's because the dram chips are old news, micron is now investing the high-bandwidth memory chips and nvidia is already using them in there using the men blackwell, that is why micron is up 207%. let's avoid the computer section and move on to capri exploring the brands that they have. >> the super luxury, bruce saatchi and jimmy choo, the fashion publication is reporting that capri which owns michael kors, affordable luxury, the working with buyers and banks to fund buyers of jimmy to their strategy did not seem to work they tried to be the american equivalent of ellen bh and maybe do in a more assessable way that's why i mention michael kors, if that does not work now you have the report that they're trying to sell off the expensive brands like versace. stuart: if you can't beat all the mh, sell your brands, give up and walk away wh

ceos from goldman sachs citigroup, verizon, target all there. they say there was a bullish feeling in the air. >> we are stepping into the most pro-growth, pro-business, pro-american administration i've perhaps seen in my adult lifetime certainly. we had a nice little ceremony and it ceos of a broad array of big american companies and everyone is incredibly enthusiastic really about a new administration that's about efficiency, removing the impediments to growth, deregulation. >> jesse: they weren't on the trading floor today. they will be at the winter white house. jeff phase o's and a ceo of google are set to meet the presence like that marlo go. he just handed $1 million to trump's inaugural fund. mark zuckerberg also added another million. everybody wants to jump on the trump train. because they are witnessing more change across more parts of life at more speed than ever before. trump wants to usher in a great upheaval for wall street, silicon valley and washington. yuan musk has been telling trump its going to be the most traumatic -- drama

he was also citigroup's chairman after the financial crisis of 2008. new york times said he died of bone cancer. he was 76ers old. power outages can be unpredictable, inconvenient, and disruptive to your life, posing a real threat to your family's comfort and safety. when the power goes out, you have no lights, no refrigeration, no heating or air conditioning. the winds are not letting up at all here. we're going to see some power outages. number one thing to prepare for is extended power outages. are you prepared? you can be with a generac home standby generator. when a power outage occurs, your generac home standby generator automatically powers up, using your home's existing natural gas or propane, so your life goes on without disruption. you and your family are comfortable, safe, and secure. stay tuned, to get over a $500 value free on the most popular home standby generator in the world. with the generac, we don't have to worry about whether we lose power or not. if the utility company does not come through, our generac does. having a generac take

earlier on "bloomberg today," citigroup's veronica clark spoke about expectations. >> the market hasy high bar on how hawkish powell can sound. i think we have had data in the last couple weeks that is going to give the fed more confident that the labor market is slowing, inflation is easing. i think they will see that dynamic as evidence that rates are restrictive and they don't need to be and we can take rates lower. scarlet: i'm pleased to say joining us now with what she into debates -- what she anticipates is betsy duke, a former fed governor and chair wells fargo. always a pleasure speaking with you. the market has priced in a 25-basis-point cut, pretty much a done deal. my question to you first and foremost is should it be a done deal? is there a case to cut rates with the economy where it is at right now? betsy: i think it is a done deal. first of all, if it wasn't, you would've had some signaling from somewhere in the fed, somebody would've started talking about maybe it wasn't. but you haven't heard anything like that, so i think it is. i think this cut is a fairly easy one

what about citigroup with the total group of 45% to sneak into the billion dollar club and last, but, we have a cybersecurity company that cnbc investing club members know all too well up 37%. micron semiconductors and high bandwidth, 18% and it's up 11%. a huge journey undertaken, but both micron are high and the whole thing might be a bit of a comedown for them. i know we're experiencing a heightened market with expectation running so hot. you can't believe that a presidential rally or let's say an end of the year rally and a stock shortage rally are all in play for once. many are part of a sell-off that seemed to affect the year's best performers and i don't know how long it will last and maybe great buying opportunities already. when you get this much money buying in, you can see how the companies can reach $100 billion at least on paper. one more reason why it wouldn't be so bad if they took something delicious off the table. let's go to dave in illinois. dave! >> dr. cramer, my s&p oscillator watching friend. how are you? >> dave, i am fine. i'm glad you called. what's going on

underestimating the economy positive reaction to trump to point out an easier fit and you highlighted the citigroupconomic surprise index which is been on a tear let's pull back, by the end of the week with economic data coming out that number is going to turn higher as well. >> i think so all of the october numbers were depressed by the boeing strike in the impact that it had on its vendors and as well as the hurricane. i think that we can scope is obviously temporary and the numbers will see more strength were looking for 2,050,000 in the november jobs report partially because they rebound from weather insight the oppressed numbers but all in all it looks good for the economy continuing to be performing well especially for animal spirits taking them. >> before i let you go, but her focus was on your s&p 500 you could say it could go to 10000 by the end of the decade. a more intrigued by something by the nasdaq, we have the chart, nasdaq 20000 by mid-2025, the nasdaq is questioning it again today, does that get back to the fact that were underestimating the uniqueness of the company striving all o

before we head to break, former chairman and ceo of time warner chairman of citigroup and ceo of thesons has died. parsons was known for helping troubled companies navigate tough times. he also worked for new york mayor rudy giuliani's campaign. dick parsons was 76. there once was a tree lovingly made to look real. so real, something magical happened... it helped create very real memories. ♪ balsam hill. ♪ - bye, bye cough. - later chest congestion. hello 12 hours of relief. 12 hours!! not coughing? hashtag still not coughing?! mucinex dm gives you 12 hours of relief from chest congestion and any type of cough, day or night. mucinex dm. it's comeback season. demand that the panama canal be returned to the united states of america. >> this is what donald trump does. he stirs chaos. sometimes it has strategic value for him because it distracts from other things he doesn't. sometimes it seems completely bizarre. >> trump is a master at negotiation. it's a shot across the bough. it was not on anyone's radar until president trump tweeted it. and now it is. >> well, this all stems from a t

. >> meanwhile, citigroup allowsed takeover with royal mail to more forward.t will allow the requirements for as long as they own royal mail which they say is legally binding. >>> and coming up on the show, chinese data disappoints yet again. we will have details after this break. at betmgm, everyone gets a welcome offer. so whether you're courtside trying to hit the over... or up here trying to hit the under. whew! or, hitting that win with your crew. ohhh! yes, see defense! or way up here with a same game parlay. yaw! betmgm's got your back. get your welcome offer. and play with the sportsbook born in vegas. all these seats. really? get up to a $1500 new customer offer in bonus bets when you sign up now. betmgm. download and bet today. jen b asks, "how can i get fast download speeds while out and about?" jen, we've engineered xfinity mobile with wifi speeds up to a gig, so you can download and do much more all at once. it's an idea that's quite attractive. or... another word... -fashionable? i was gonna say- "popular! you're gonna be pop-uuuu-larrr!" can you

federal reserve over the annual bank stress test, the bank policy institute that represents jp morgan, citigroupgoldman sachs, american bankers association, u.s. chamber of commerce, all of these groups and banks claim the current process falls short of its goals and is in violation of the law. >> that's right. they're saying that federal reserve is not being transparent enough as far as the capital adequacy requirements are concerned and the listeners may say what is capital adequacy. well, what happens, for instance, if you go ahead and make a deposit at a bank, the bank has to hold a relatively small percentage of that deposit as capital and they are free to lend out the rest of the money, make mortgage loans and whatever it is. and w what the banks want to knw e they want to have a better handle as to how much capital they have to keep on hand in order to meet this regulatory requirement that aims to stabilize the banking system. the banks do not like the fact that they don't really know how the federal reserve goes about calculating how much capital banks are supposed to keep on hand. they

among the companies he was enlisted to fix: citigroup, during the 2008 financial crisis and time warners disastrous merger with aol. for a time, he was one of the most prominent african american media executives in the u.s. richard parsons was 76 years old. still to come on the "newshour." some international students are advised to return to the u.s. before president elect trump takes office and imposes a promised travel ban. a new movie chronicles a boxing champion's journey from humble beginnings to winning olympic gold. and a report sounds the alarm on extreme warming in the arctic. ♪ >> this is the pbs "newshour," from the david m rubenstein studio in washington and from the walter cronkite school of journalism at arizona state university. william: now that the assad regime in syria has fallen, the full scale of the government's production and distribution of illicit drugs is coming to light. leila molana allen reports from the drug factories in syria. leila: damascus. the epicenter of bashar al-assad's web of control. his regime's carefully guarded secrets are being unlocked. we ar

october 21st, tomorrow, two days , citigroup and moody's, followed by a panel discussion on emerging markets. on november 15th, a former foreign minister of south korea for a discussion on u.s.-south korean relations after the u.s. presidential election. and in december, a conference on the economics of sustainable development. it is my pleasure to introduce the dean of the elliott school, alyssa ayres , an award-winning -- with senior expense and government. she was appointed dean of the elliott school in 2021 and the first woman to serve as the dean at the elliott school. from 2013 to 2021, she was a senior fellow -- she remains -- from 2010 to 2015, deputy assistant secretary of state of south asia. her work primarily focuses on u.s. relations with south asia, and the larger in the pacific. -- larger indo-pacific. she served on the board of -- in 2021, the what -- the washingtonian include her as an influential person checking politics. she will introduce the speaker tonight and moderate the q&a. dean ayres, pleasure to welcome you to the podium. i apologize, it is very hot. we ha

what are some of the macro themes that you and citigroup are telling your clients about for next year. >> so a couple things. first off, on the growth side, we think the a.i. story is real. i appreciate what bob's covering here, but honestly, a.i. productivity gains, high level fundamentals look really good for the s & p 500. i think that helps us get through some of the more volatile periods. but at the same time, inflation, not quite done yet. then when you think of the valuation setup, a lot of good news is price thin. >> so there's actually a lot to unpack there. some of the good news, you're optimistic about some of the a.i. themes. now the market obviously drew, very optimistic about a.i. for the last year plus. what will continue or what might change in '25? >> so it's funny. i think the fundamental stories at least for the picks and shovels names they continue. but where we think the trade is actually going to broaden out, and honestly, it has for the past year, is to some of the users of a.i. think of some of the car companies that do autonomous driving. even to some of the m

stuart: the next one is citigroup. what's with that?on standpoint, it trades at, like, a 17-18% discount to the rest of its banking pierce. it's kind of a restructuring play. they're looking to, number one, exit and enter some new consumer lines. they are really trying to focus on wealth management if which is all recurring revenue, and they're trying to eliminate some of their excessive amount of middle management. it's one of those companies where everyone's a vp, right? so they're trying to eliminate that, and that should lead to more profitability in the stock. stuart: all right, got it. thank you, mark tepper. robert f. kennedy jr. is back on capitol hill rye thing to drum up support as -- trying to drum up support. aishah hasnie is there. aishah, is rfk making any progress? if. >> reporter: hey, stuart, good morning to you. he would say so, and so would the transition team among some conservative republicans too. her all for him. they are all for him. it doesn't appear that that he has the votes yet, but there are, certainly, some

this at a 52 week high after the commercial carrier inked an exclusive credit card partnership with citigroupbank worked with american for 37 years on co-branded credit cards but what's new now is that it will now be the exclusive issuer taking over barclays share of the portfolio. citi in the green on the deal up about 1.6%. those shares are climbing to a two-year high. and look whose at the top of the s&p 500. jack daniels maker brown for man, james my floor director likes that, up 10.6%. the spirits giant is popping after posting better-than-expected second quarter results. despite whiskey sales dropping 1% year-over-year the company said it expects strong demand in the international markets to help drive a return to organic sales growth in fiscal 2025. and shine is off this hour, shares down nearly 12% at the moment the world's largest jewelry retailer recording a third quarter miss while sales dropped 3% year-over-year. the owner of kay jewelers said increased competition with lab-grown d diamonds which are the same makeup as real diamonds only they are grown in a lab. and other macroeco

citigroup goes up to 113 per share versus an $877 a share they had previously -- 87.eems like a company firing on all cylinders. one company said it's all about the intelligent agreement management platform. another company said it's all about billings growth. every analyst was able to look at company and find something they really liked. stuart: okay. peloton. they've got a new app. can you tell me anything about this app on peloton? >> the strength plus app. it's all about strength training, right? you get instructor-led videos -- it's not just doing dumbbells and the bicep curls. it's a full-fledged strength the training thing, it's only a dollar, we're hearing. i don't know, are you interested? would you do some strength training versus the traditional cardio that they offer? is. stuart: no. moving on -- [laughter] miss all that stuff. petco, the pet retailer, how did they do? they must have done well. >> yeah. again, good beat on both the top and the bottom lines, right in really interesting comments from the ceo. he really wants to simplify the can customer expe

he spent much of his career stepping in during corporate emergencies including at citigroup during the financial crisis, and most recently at cbs after the departure of les moonves. he was also on the board of the national museum of african american history and culture. >>> welcome back to "fast money." the holiday shopping season may finally be over, but was it nice or naughty for retailers? mastercard saying in its latest spending poll survey that holiday spending was up 3.8% this year. but shoppers were searching for value. online shopping , holiday promotions, and experiences driving the jump in sales. macy's, foot locker, five below, dick's and ulta all seeing gains. target up 3% today, posting its highest close since its q-3 earnings report last month. so, what does the retail trade look like for 2025? and what was interesting in that survey, the uptick in spending on stuff. so, apparel, electronics. the stuff that we used to put under the tree is now back under the tree, or was back under the tree, bonawyn. >> yeah, listen, i -- given that there has been concern around the consu

served as chairman of citigroup in 2009. he stabilized that bank after the financial crisis. in 2019, he was named the interim ceo after donald sterling was banned for life. he stepped down after a month at cbs citing his health concerns. he has been battling multiple myeloma. the cause of death was cancer. i just e-mailed with him a couple of weeks ago. he was off to hospice. you know, started his career with rockefeller and became ceo of dime bank. he was considered a fixer upper. he would walk in a place and through force of personality and sheer will and spirit of good faith more than anything, he was able to take a situation that was impossible and work with complicated people, i think of carl icahn. he found a way toward peace. that's who he was. he was a very, very special man. dick parsons was 76 years old. ok guys, instead of getting weathertech, i saved a few bucks and got some cheap, foreign made floor mats. but they really stink, so put these on. ♪♪ really, gary? mom, i'm thirsty. don't settle for cheap, stinky floor mats. at weathertech we make our floorliners an

i spoke with the citigroup ceo one week after trump's election.is what her clients are focusing on. >> from our clients around the world, i think they would say four t's. the first one is the tempering of regulation. second would be taxes. third would be tariffs. the final one would be tightening immigration. as we look across the board, i would put that in the perspective of a largely progrowth agenda. sonali: of course, that was the citigroup ceo jane fraser in the middle of a massive turnaround story for her bank. i will now bring in a senior reporter for our finance team at bloomberg news. we used to sit back back so i missed conversation with you. i had to drag you on set two days before new year's. what do you think the prospects for next year? you already saw for example barclays ready to set up much bigger bonuses for their bankers. is it looking that rosy across the street realistically? >> i don't we just talked about the interview but if you had to see the best indicator for what people are expecting next year for the banks, look at wha

a line you mentioned echoed by citigroup, two months of jobs data in one day.r the prior month, we are also going to get revisions for october. pnb pair about says the number could be as big as 100,000. this might show us whether the weakening trend was real or it was all about strikes. annmarie: and it will show us whether the fed has a bias to the labor market depending on what kind of number we get today. andrew hollenhorst publishing with this report saying the average of today's leading in october will determine whether jobs growth is slowing or holding up more sonically, as is believed by markets and fed officials and also torsten slok. jonathan: fed officials going into the quiet period. we all understand the bias. they want to reduce interest rates by another 25 basis points. things could change a lot, january 20, when we get incoming administration, donald trump taking over and on day one making big changes. jonathan: this is the big risk -- dani: this is the big risk. what if jobs are weaker and they continue to cut until they come head-to-head with t

drew pettit of citigroup writing expect a more volatile phase of the bull market this year.ans first 100 a policy pushes could create bouts of volatility. drew joins us now and dan greenhouse is still with us. what are you expecting that first 100 days of the trump administration since everyone coming on this program says we have to wait for the policies? drew: that is the beauty of the set up. i am not sure what to expect. i think that creates volatility. in conversations with clients we have heard a lot about immigration fears. they are worried about tariffs. on the others you have the deregulation angle. when we talk about a bull market entering a volatile phase, we think fundamentals are strong but trips of news here and there bounce you around a little bit and you see a little bit more aggressive rotation between sectors. dan: do you feel like investors you talk to are actively changing portfolio allocation because of the immigration concern? everyone is concerned about it and worried about the potential for inflation. is anyone doing anything about it? drew: i don't th