i'm paul sweeney, here with david gura in new york. ing to see how we kind of close out the year. again, 20 4%, 25% return on the s&p 500, that's darned solid. i can't imagine anyone complaining here. david: i'm struck by those we have spoken to who are not expecting those gains. paul: but the equal weighted s&p, only a 14 to 15% he will return. only. if you were in those big cap tech names, you might've missed out a bit. let's take a look at some of the stocks moving under the surface with alex semenova. what are you looking at there? alex: price target upgrade this morning unsurprisingly from wedbush being raised to a straight high of $325 from $300. dan ives, writing that the company is headed between multiyear ai driven iphone upgrade cycles that he says are still being underestimated by wall street. the growth catalyst now seen from the multibillion-dollar annual analyst estimate stream. there is an expected upgrade across the board for 12 to 18 months with an outperform rating on these stocks. up about 4 -- .4%, more than 30% this

lisa: bloomberg's david gura joins us now.e main takeaway given the fact janet yellen knows her time as secretary is limited and she is handing over the reins to administration with a very different view? david: i went into this interview wondering how she was going to be. was she going to be wistful or worried or running for the exits? i think she retains optimism that in the time she has left she will convey to the american people all this and ministration has done in terms of economic policy but also convey what is important. taking china as an example, she has the best conduit of communication between washington and beijing. she believes rebuilding that was crucial and it is important to maintain the integrity of that. she wants to convey to scott bessent and his team there should be an effort to preserve that whether president trump will be in favor of universal punitive tariffs. you misspoken called her secretary of state, you can be forgiven for that because she had such a huge diplomatic role. she is someone who has em

annmarie: david gura speaking with sec. janet yellen.ctions on russian crude. i and some colleagues in d.c. had reporting that before biden leaves office they may go after russian crude outright. could this be a premium added to the oil prices? sarah: anything where people talk about getting more serious can have a short-term effect. what we found collectively as the oil is a fundable good. intends to move anyway because it is a high-value cargo. if there is a stricter regime you may see a move in the price in the short-term, but you have opec basically holding back oil production because there hasn't been that much of a shortage that people were looking for because of the combination of sanctions and people thought the demand would be higher. there is a little tension going on. i think you need a higher demand picture before that happens. annmarie: saudi arabia, uae would be excited to fill some of those gaps. let's get an update on stories we are watching elsewhere. here is your bloomberg brief. yahaira: turkey is lowering interest rat

treasury secretary janet yellen speaking of david gura, you can find the full interview online and onerminal. let's continue this discussion with jennifer lee, senior economist. i've been on wall street since 1986. seems like we've been talking about federal deficits and the long-term debt of this country forever. is it ever really going to be an issue for markets, do you think? >> well come -- jennifer: well, good morning, and thank you for having me on today. yes, it's going to come home to roost at some point. when? i don't know. it's been going on for 40 years. how long? the first thing i thought about listening to janet yellen was -- the opposite is going on in germany, where they are trying to pry open the wallets. they can't even up the deficit more than 3.6%, let alone 5%. it's a very different situation playing out around the world. certainly u.s. deficits can keep going at this pace. at some point it will come home to roost. the question is when and i don't know. alix: for you guys sitting in the airport, american airlines appears to have resolved their tech issues that impa

janet yellen sits down with david gura as she