we already today had headlines from ikea and abercrombie & fitch. are calling this out at this point. what is going on with them? >> you see an extension of the risks we are already aware of. the houthis have been increasing their attacks and the u.s. has stepped up its competition. companies are trying to be cautious. it does not hurt to take extra time to go around versus subjected to a missile attack. jon: on the geopolitical front, for the u.s., what should we be watching? bloomberg reporting on the potential for action but the hope for some kind of diplomatic solution? felice: the israel-hamas war is complicated. you had israel's president herzog yesterday talking about a humanitarian pause. if there can be progress on that front, the situation will calm down. the houthis are backed by her ron -- by iran and so is a must. you have many moving parts in the situation. vonnie: you have saudi arabia, the united arab emirates, all complicated. but if you want to buy a shelf from ipf and suddenly it is not going through the red sea, will you have to

profiting in the oil market from hosting cop or whether it's sexual abuse allegations in abercrombie and fitche from the middle of bbc news and they're spread through all of our outputs — our podcasts, our linear programmes, ourwebsite. they reach far more people. and in the end, ourjob is to get thatjournalism to the maximum range of audiences we can. former bbc news executive roger mosey was also on newsnight last week, and he said the bbc should be cutting some of the fluff from other parts of his output, like daytime, rather than making these cuts to the news content, which is the heart of the bbc�*s reputation. i think the bbc�*s reputation does rest a lot on what the public service bit that the bbc does, and news is at the forefront of that. i saw roger's interview and i saw michael couric�*s interview on the programme last week. i think if you had representatives of other parts of the bbc sitting with me today, whether it's daytime or entertainment or comedy or drama or sport or whatever, they would also... we've tightened our belts, too, over the years. there's very little original pro

i don't think that fitch is inaccurate in making that assessment. only piece that they're not considering is, if we miss that soft landing, which in my mind, we have not proven that we're totally there. so there is a possibility still that there could be an outside black swan event and that recession in my opinion will actually see home prices fall alongside interest rates if that does occur but right now the narrative is, the soft landing. ashley: the soft landing. you know, i was going to say on the other hand you posted a chart on twitter showing that the post-pandemic housing correction hadn't even begun yet which i find is very interesting. is everyone looking the wrong way right now? >> yeah, in my opinion when you look at the case-shiller chart for from 2020 to now it is half of a parabo-la. how is that going, geography or geometry wins in the end. it remains to be seen what timeline that occurs on. in the near term i'm not seeing enough weakness in the economy we'll see anything like that in q1 of '24 i think we're risk of credit event or de

el inspector del servicio postal jeff fitch ha confirmado el asalto a 2 carteros a punta de pistola en hayward y asegura que están analizando cómo mejorar la seguridad y arrestar a los responsables. >> mientras tanto, a personas como eunice se les agotan las opciones para intentar proteger su correspondencia. >> told that we weren't allowed to do that anymore because we weren't actually on vacation. >> ya que la oficina postal no pueden poner en espera sus cartas o paquetes porque esa es una opción solo para las vacaciones y ellos técnicamente no lo están. en cambio, les sugieren obtener un apartado postal si desean recibir su correo permanentemente en esa oficina, o bien los vecinos también alegan que incluso han solicitado comprar un nuevo son de correr de correo, hacerlo ellos mismos, pero la solicitud les ha sido denegada. y ahora, al exponer públicamente la situación, esperan respuestas y una solución pronta. por cierto, si usted sospecha que ha sido víctima de robo de identidad, debe reportarlo en el sitio web. robo de identidad o por teléfono a la línea que aparece ahora en pant

abercrombie and fitch is ditching the ships and going airborne to avoid the red sea entirely. white house has not fired any direct military attacks against houthi rebels from terrorizing the seas including houthi attacks on us warships. that's not off the table is the white house tiptoes not getting into direct standoff with houthi rebels main backers, iran. >> these attacks have to stop. they are unacceptable. the united states, allies and partners have to counter these ships. >> reporter: foreign policy applications aside their economic implications, 30% of global container traffic passes through the red sea. billions in goods and supplies. houthi rebels are aggressively making the red sea, gas prices globally, global trade overall. >> i'm deeply concerned about ensuring maritime cargo around the world. we can't lose control of the red sea and biden comes in, bumps the houthi is from the terrorist watchlist and by april of 2,020 they already fire on the southeast. >> reporter: there have been 37 vessel attacks by the houthis over the last month, we will see if in the new yea

walmart for example, the top of the list, i think other retailers if you look at the abercrombie and fitchhings that used to be small related book struggle of mistaken get something on my be on it sounds like it will be a great year, what a pleasure to start this week with you. as you can hear the opening bell is ringing on wall street if we can look at the board, it takes a little while to kick in but we expect to see, so far it is in the green. we see some on the screen, i would say recorder screen so it looks like we are doing well on the dow, the s&p is in the plus side as well, percentagewise it is up a little more, ten points, about ten points, 4729 on the nasdaq, 14814, it's up less than one, a fraction, we are showing the tech if we could develop and we seek mostly rain, meta, amazon and alphabet but microsoft apple down a bit. let's go down a little more, u.s. steel found buyer, who is it? >> 26%, it is from japan, they made $13.9 billion offer for u.s. deal, $55 a share, 40% premium and how do they justify the price tag? reason one, steel prices are expected to rise as automakers

we saw some coming is like ikea and abercrombie and fitch detailing how they are trying to get theirheir consumers in a different way. how much of what you see is affected right now? jett: it's very significant. 30% of containerized global trade goes through the suez canal. it's about $9 billion of goods a day that goes through. over $3 trillion a year. very large numbers on that scale. manufacturers, retailers, auto, oil. everyone will be impacted by this. seven days up to four weeks because of unaffected delays start to shake out and we see the downstream impacts inland. we will continue to see that. companies should be prepared for higher rates and more delays as long as this continues. jon: what about for the consumer? what should they be prepared for? jett: i don't think it will help on the inflation side. higher rates will get passed on to the end consumer or it will impact corporations' earnings. that will not play until q1 of next year. someone will have to absorb the costs. the shipping lines themselves will be able to pass this on. the research urge we saw cma start that ye

fitch says it will continue to pressure retailers in 2024 in the same categories.ers favor travel and experiences. to that point, tourist spend in could present new growth over 2019 levels back when it was normal. the tourists are traveling to the u.s. with the intent to shop. while artificial intelligence long existed in retail, particularly for product suggestions on linelonline, exp see more targeted ads for suggested products powered by a.i. on retail and social media. machine learning will help improve inventory management and uncover cost efficiencies. harder for human analysis to detect. frank. >> great human analysis from courtney. let's get back to jessica. do have have a top pick? >> with 2024, we believe the first half is similar to 2023 in the second half. consumers are cautious with their spend and retailers are conservative with the outlook and also the way they are managing their business. i don't feel that will necessarily change. we have a tough consumer back drop and geopolitical issues going forward. as far as favorite categories, wellness and be

sonali: it's everything from oil tankers to ikea to abercrombie & fitch saying they will be impactedargo shipments. it's a critical time of year so give us a range on the types of goods that will face pressure? >> certainly, all consumer goods but there is many goods that support industrial manufacturing. really from what you find in the grocery stores to building, products that are required to support medical field and building products, a wide gamut. you will have them affected with delays, shortages, rerouting and inflationary pressures. the cost of oil will go up. guy: does this accelerate the reassuring story? is it another reason why want to bring my supply chain to home? >> absolutely. the risk, supply chain risk, the need to have quick deliveries, all of those factors are compounding and the need to reassure is just paramount. if we want to have a secure and available supply chain, we need to be looking at reassuring. in some cases, near shoring, bringing manufacturing closer to where your key customers are. sonali: they've been talking about the reassuring concept for years

abercrombie & fitch up 300% this year.t was the brand's best annual performance since going public in 1996. something that is down slightly to end the year is the 30-year mortgage rate. we're closing out the year with a rate of 6.61%. that is after the 30-year mortgage rate hit 7.79% in october. another rate we saw come down, the rate of inflation. the peak for 2023 will end year 0 over year inflation was 6.4%. right now we're at 3.1% inflation. that's a lot better. still well above the fed's goal of 2% inflation. even still, the fed has now signals that they will start to cut rates in 2024 making wall street very happy and helping to drive this end of year rally. will it continue in to 2024? that is the question, edward. we'll have to come back to work on tuesday to find out. >> yeah, we will find out right here from the market guests. we ask the big panel here to see if this market wave will continue. we have the market pros there. new york stock exchange trader, peter tuckman and kenny polcari. look at those glasses. al

a new report from ratings agency fitch found u.s. 10% above their actual value. and in a recent "wall street journal" poll, just 36% say alive and well peer that is down staggering 32% last year. meanwhile, many of americans young adults are not even considering homeownership thanks to high cost in inflation. in 1981, the average home buyer was 31 years old, now, that average has jumped all the way up to 49 years old. kkym, 55.5 homes in 2023 were affordable for the typical u.s. household. is the american dream dead? >> kym: i have to tell you, nicole, you said you have three little ones and i have one son who moved out here in finance, real estate investment banking. i talked to him and all of his colleagues and friends from school. got a great education and at all the right things. got involved in charity and checked all the boxes peer they all say they are so discouraged. he has five years away from that 31-year-old that you just said. he said, "mom i will never into i'm 55, griff's age be able to afford a home." especially in lig

the dark lighting and intense perfume smells from the stores of the early 2000's, abercrombie and fitchits irrelevant brand and that's why sales have been soaring this year and the stock is having its best year ever and its longest winning streak in 25 years. it's down 1% right now with the greatest a lot but it's one of the best performing retailers this year, of 280%. >> thank you. >>> next, alphabet shares are still higher despite this late day selloff. we break dowthe new report that sending the tech giant into the green this afternoon. "closing bell" is coming right back. benefit more growth. when you realize you can give your people everything, and more. thank you very much. [applause] ask, "now what?" here's what. you go with prudential to protect, empower and grow. with everything you need to deliver, you guessed it... more. one more thing... who's your rock? learn more at prudential.com you got this. let's go. gobble gobble. i've seen bigger legs on a turkey! rude. who are you? i'm an investor in a fund that helps advance innovative sports tech like this smart fitness mirror. i

and you're right, fitch downgraded us. obviously moody's went negative.son for all of this because they're saying where are the conversations? we just totally erased the debt ceiling through the election which i think is completely unconstitutional. that is lot of things happening no one is addressing. yeah it will cost us more for us to continue to act like we can print indefinitely. charles: from the market perspective, if yields don't keep coming down we saw what the summer was, it will be a ugly summer for markets. trade was, cheap knock-off of wines. we're seeing a big-time, there are defacto trade wars going on right now. i know our friends at "the wall street journal" hated, they hate it when trump put in those trade policies but biden hasn't removed them. covid proved we should. >> all the pharmaceuticals are coming from china. what did we do about it? nothing. charles: right. >> they give us the disease, talk about rsv, they make the cure. come on, really. >> ship it to us. charles: so i mean, no matter what then you think these trade battles are

. >>> fitch ratings have warned the adjustments will be painful while the new president had warned thaten. here we are. they unveiled their ten points. i'm happy to bring in the manager. let's start with argentina. your focus is a lot more broad, but it's interesting because the news came out in the last 24 hours. argentina has been a mess economically and politically, if i can use those words. my question is whether the treatment, the cure will actually end up killing the patient. >> i think this has happened before. the benefit here is he did not win through the first round. he has gone through the second round, which means he has to govern through somewhat of a consensus at the first part. the ironic thing is the very reforms and changes that the argentinian people want to take place will hurt them first. you're absolutely right. they have a very tight frame to be able to instigate change, bring fdi, and, you know, have real consequential change. i do believe the biggest obstacle is because of the change in 1949, argentina has been involved in one political battle after another. so i

retailers which is why 40% are tacking on a fee to return items by mail including tj maxx, abercrombie and fitchfee at u.p.s. stores. if you have a whole foods or kohl's location. you can avoid most of these fees by making your returns in store. to give yourself the best chance of a smooth return, don't open the box or remove the tag. if you have one, bring the gift receipt with you. other updated retliestoing fees at some stores or shortening the return window. retailers like macy's and walmart will let you return gifts through the end of january. best buy is only giving you until january missing the cutoff could mean you're stuck with something you don't want. trevor? >> trevor: we would never return a gift from you, alexis. >> thank you. >> trevor: we have a shopping update on popular gifts. today is the last day you can buy two recent apple watch modems in the stores. the online sales came to a stop on thursday. apple's pulling these devices after the international trade commission banned the sale of those watches in the u.s. after finding apple used technology patented by a medical device m

that ikea is warning there will be delays, some products might be unavailable, and abercrombie & fitchg to bloomberg, is ditching the ships and going airborne, flying cargo to avoid the red sea entirely. senate republicans say the white house scolding the houthis will not work. >> a sternly-worded statement is not going to scare the houthis or to deter them from these attacks. shooting down their helicopters when they approach ships is going to deter them. if we took down all the houthis' capabilities to launch these attacks against ships and naval vessels in the red sea, then they would not be so stupid as to try to retaliate and, frankly, they wouldn't be able to retaliate anymore. >> reporter: and, liz, about 30% of global commercial traffic goes through the red sea, so this houthi aggression could have major implications on gas prices and global trade overall. liz? elizabeth: wow. hillary vaughn, always terrific journalism from the one and onlyhill erie vaughn. thank you so much. merry christmas to you. let's welcome back retired lieutenant colonel davis with the group defense prio

(we did it) start today at godaddy.com what we told him is when a clear stand a and abercrombie fitch handily outperforming it peers, shares up nearly 300% the retailer even managing t be the a.i. darling, in video, with its more than 240% gain abercrombie is having its best annual performance since going public in 1996 it's the best performer and s& 1500 index when shares were down 34% -- for the year abercrombie up about three billion in market cap, but nvidia, of course, of 80 billion. percentage gain. zola abercrombie just on example of the strength we'v seen in retailer, with the x r t, etf about 20% there can the retail industry is resilient carry forward into 2024 joining me now is bernstein's niche a sherman. to help us discuss that. anita, great to see you. how are you viewing, i guess the current state of the consumer and how it is creating winners and losers in the retail sector? >> it's very bifurcated. this year, we saw the kind o stabilization of the low incom consumers who really suffere last year from the rise of inflation and the rising foo prices, from the rollover o

my name is brad fitch, i am so happy to welcome you here on such a beautiful morning. it is so exciting to be here for another one of our awards ceremonies to recognize the best in congress. i am grateful for the founder of the democracy awards, the bridge alliance. they are a diverse coalition of organizations committed to revitalizing democratic practice in america. it is kind of like a trade association for democracy reform. you will hear more about it when debbie lynn comes to the stage. the vision for the democracy awards are simple and based on the congressional management foundation's 47 year history of working with u.s. congress. this award actually goes to the office and the members. because we recognize that the members have to be great leaders and need great teams to support them in their mission. the second reason we wanted to create the democracy awards is to offer examples of best practices for members of congress. offering them roadmaps for how they can improve their operations and their constituent services. the third reason we want to create the awards

went with performance, the number one performing stock in the s&p 1500 composite is abercrombie and fitch almost 300% but it is too much this stock has a boom and bust cycle. several times it had 300%, 400% returns only to give it back if you look back over the last 20 years and we suspect that is what is coming a lot will be given back in terms of 2024, gold again. >> i didn't see that coming. >> you never saw that coming. >> no, shocking. >> and general electric also just to point out, this is an important -- of all of the stocks when we say a stock is up 300% or that affirm, those are not important companies. general electric is a very important company. it just had its best year ever, up 95% i would think there's more to come >> all right julie, what do you think about yours? >> so i think you heard the option of getting a stock that did as well performance wise as tesla but you get it without a megalomaniac mid life crisis guy running, so this is fair isaac fico the company delivered 94% growth in its performance it is a really stable, high-quality business that obviously has exposur

coming up, we are looking at fitch ratings. insight coming up later. ♪ hello, brent. hi?f you had to choose, would you watch paint dry or compare benefits plans? compare benefits every time. come on, you know how complicated benefits can be. well, i run payroll with gusto. they make it easier to find benefits like medical, dental, and vision for my whole team. man, i think i'm going to need new glasses. don't worry. i've got you covered. yes! choose benefits without the mess. that's working with gusto. yvonne: a message is likely to disappoint investors >> this is at the core. severe external realities that china is dealing with. that is going to be a bit more of a challenge because we have seen the consequences, it's going to be much harder getting to 5%. there was a mention of tax cuts, cars, all of that kind of thing. supporting syndications suggest beijing is thinking about how to get consumption back on the road. rishaad: people re-coupling, supply chains. we had no [indiscernible] vietnam is showing they are not anyone side. >> this is interesting, in terms of publi

fitch, yesterday, talking about pressures on cre in '24.hat's not going away. >> no, and when we talk about rate cuts, we're talking about maybe 100 basis points here. i mean, it's not like we're going back to zero in 2024. if we have a recession, perhaps, but i think the market is kind of looking at a lot of what's going on as this whole big regime change, given kind of the way that the fed moved this year, but you know, by and large, it's not going to be that huge game-changer that will unleash all sorts of kind of easy financing and back to 2020 and 2021 era. >> i'll tell you who's not fighting the fed. the dodgers. the dodgers just dropped a billion dollars for a free agent. >> what does he know about the future trajectory of the dollar and inflation, right? >> don't fight the dodgers. although, we'll see if it lives up to the hype. in recent postseason history, it hasn't exactly done that. but we'll see. the amount of money being thrown around is just extraordinary. >> well, their m&a too. >> whether it's sports or in the stock market

abercrombie & fitch has risen even more than nvidia which is incredible for a retailer. from a sector standpoint, utilities are down 11%. energy is down 5% and consumer staples down 2.4%. two defensive sectors are down and then health care up slightly, real estate and materials and make it tech sectors are up 41% or more. that seems absolutely ridiculous but more sectors are higher. if you looked at the section factor a few months ago you would've only seen those three sections. caroline: let's keep the conversation going with the santa claus rally. we have christina hooper joining us, chief market strategist at invesco. it's always good to have your voice. christina: what i would anticipate is as we head into 2024 were likely to see markets discount and a re-acceleration in the back half of 24 which should benefit small caps and the most. we've already seen a preview of that rate -- late in 2023. markets. the early part of 2020 four is likely to be positive. there is still some confusion around fed policy given the fed does protest too much. caroline: will dig into wher

i'm still thinking of the abercrombie & fitch story.nish today higher, at least a little higher, this would be the ninth straight week of gains for the s&p 500. carol: that is a momentum line. katie: exactly. manus: the big criticism is that, you have to think of the other 493 stocks apart from the magnificent seven. the magnificent seven are going to see and earnings bump next year over 20%. it justifies the environment, very much part of that. carol: let's get to other headlines on this friday. under surveillance this morning, man group considering -- according to man group's head of discretionary, the hedge fund plans to expand into different credit strategies to meet rising demand from clients and capitalize on the shift of corporate borrowing habits. this could be come a we are talking about private credit. every time we go to milken, the global initiative on the west coast that happens every spring, i think, public markets. no, it is about private credit and private lending. katie: you wonder, the returns when you look at private

vonnie: abercrombie & fitch coming out saying they were going to fly some of their products as opposedo your thoughts on real estate because you say you have 1100 retail outlets and stores, locations let's say worldwide. are there places where real estate may be looking attractive at this point? >> i think in places where you have a soft economy, if your brand is performing, i think there will be opportunities. western europe comes to mind where it is a slow growth market. we see opportunities of landlords to get good rates for extended deals. that is something we will look at aggressively. in the u.s. and you guys have seen this trend, the class a malls are still extremely expensive. hard to get into. they make sense where you can make money. class b and c are harder. the outlet centers are still performing well. for our retail season in line was good but out was strong as we expected. class a malls space will still be tough. there are always goes to be had if you are patient and you have a strong brand. sonali: you mentioned europe. how are you thinking about a potential slowdown in

profiting in the oil market from hosting cop or whether it's sexual abuse allegations in abercrombie and fitchore and a loyal audience who watch news on tv and they listen to the radio. what do you say to them who say, "look, we're not interested in digital." why do you risk throwing them away? you're totally right. that core audience is so important to us. if you look at the numbers of people who are watching, for example, the big programmes on bbc one live — so the figures are in real time — very often the top two programmes of the day are the regional news at 6:30 and the 6:00 news that precedes it. and the other programmes that come from news are right up there in terms of the, the big deliverers of audiences, in terms of live television. and i would say to those people, "stay with us." we've got linear — what we call "linear built" programmes on on bbc one, bbc to all the radio networks that people will be familiar with, they're in there for the long haul. we're not taking any of those programmes out of the schedule. we're not taking newsnight out of the schedule. we're moving resources a