goldman's investment services.emember, goldman sachs asset judgment is one of the biggest investors in the world. but, there are growing pains. another story we have out today coincidentally as well as about the losses old men is having to file in the consumer bank. remember, the consumer across the entire board is not the same animal as a big institutional investor and they do have their own challenges. taylor: what the heck is a lovable teddy bear? sonali: a person you have spoken to on your program, he said he wants markets to be that lovable teddy bear. at the same time, there are these lawsuits in this consumer bank that you are seeing as lending begins to ramp-up. with that said, they are having a banner year. taylor: thank you as always for breaking it down. coming up, the pandemic is causing even america's wealthy to shore up their finances. harold levine from bank of america joints next to his latest survey. this is bloomberg. ♪ caroline: today, we are focused on how banks manage their money and how you ma

of course goldman is a favorite. i've been waiting for a better opportunity to get into it i might bite the bullet at some point and buy both those thinking so i own freeport, sqn and i if i believe in the copper story, then i believe in the inflation story, then i believe in a stevening yield momentum coming to the banks >> you deserve to get in on this conversation you own bank of america, citi, morgan, stanley justice and i think this announcement just provides more if he now the banks can really role their the one piece of like about all these thanks is the wall the alternative products and the other vehicles they are selling to their customers are very proftable. everybody's got a stake here points well taken. make mayo, thank you so much i appreciate you reaching out to us happy holidays to you and your family. we'll see you on the other side. >>> straight ahead, a bullish call on one dow component. it's seen a rise offin. we'll do it next i switched to geico and got more! more savings on car insurance!? they h

new street high, $780 at goldman sacks. they see a shift toward evs happening faster than expected john najarian, you own calls what a shock can you believe that's the reason why they upgraded the stock, john? >> scott, you'd be grasping to put reasons of why they hadn't done it earlier of course. but now this is a great move by goldman. it's a recognition of what elon musk has actually done in terms of deliveries. so i continue to own it, i own the up side calls. i don't intend on getting out of it >> they admit they missed it the concern about the second half of 2020 growth slow down was incorrect. they say since our downgrade the tock is up 192% goo cnbc.com/pro up next, john's latest trades and unusual activity we're back in two minutes for that the applied digital skills courses, i'm thinking i can become more marketable. you don't need to be a computer expert to be great at this. these are skills lots of people can learn. i feel hopeful about the future now. ♪ the team's been working around the clock.wire, we've had t

immigrantssion of the anarchist emma goldman is amazing. she emerges in 1892 following the shooting of henry clay by her partner. she returns to homeland headlines following mckinley's assassination and despite persecution, harassment, she remained a public figure, continuing to write and lecture widely. you quote her saying, "nothing helps the movement like suppression." imprisoned she was and deported during the red scare in late 1919. shipped off on the ss beaufort, the red ark, shipped off to the new soviet union. can you talk about goldman and how she managed to escape some of the worst of the anti-anarchist crusade for years and what changed? goldman is a fascinating case and what is so interesting about her story and why the narrative is so important is that it takes a long time to get her out of the country and the government is determined to rid the united states of this notorious goldman. leader, emma she's an immigrant from lithuania which is part of the russian empire and comes in the late 19th century. she is radicalized by the

this makes goldman the first global bank to do so.china security's regulator approved goldman's bid to take full control of security's company which it plans to rename goldman sachs chinese security company. jon hilsenrath, it's interesting to see what's going on in china and the united states whereas the u.s. keeps pushing back on bad behavior but the financial service's sector wants a foothold and a bigger foothold, they were granted that with the deal that was agreed upon that china would finally open up but so far just financial service's companies that can expand in china. your reaction. >> right, you called this interesting story. i totally agree. i think there's a good news, bad news situation here. the good news is that wall street has been trying for years, the financial service's sector has been trying for years to get a foothold into china and looks like china is finally starting to open up. i know the treasury department in steven mnuchin were pushing hard for this. i think a lot of american viewers are going to be watchin

morgan and goldman sachs.ks are loosening restrictions on what they can do with stock buybacks and dividends. but we are watching the news continue to be bad across the province of ontario back to the same kinds of restrictions we saw at the beginning of march. provincewide lockdown for the most populated parts of the province in southern ontario till the end of january. for the whole province -- that will affect schools, day cares, some businesses will be reduced to their previous lockdown levels. it is the kind of thing happening even as we see the vaccine roll out beginning. it is the big question -- what will happen as vaccines roll out across north america? visorair of the national he committee on immunization here in canada is with us. i one to start with your sense of how it is going. it is very early but one concern some of us would point to across north america is while there has been a lot of excitement about vaccines and pretty pictures of the first front-line workers getting a shot in the arm, ther

we know goldman traders are going to be expected to be paid sachs, and goldman currently declining toon the issue. this reportedoes a bonus boost at goldman compared to other rivals on wall street? far, it is appearing to be on the more generous and of the spectrum. wall street banks across the board saw staggering gains. people close to the matter are saying j.p. morgan chase is 15% to 20%.uses by you may recall that bank of executives floated the idea of keeping the bonus pool at last year's level. we were told the decision was not final. we are told no decision has been finalized at this point, so as we slide into the end of the year, this bonus issue carries with it a lot of anxiety for traders. back to you. rishaad: su keenan in new york. thes have a look at some of latest business flash headlines. aftersh on the way down its ipo was described as "the most ridiculous share sale of the year." ining intense competition food delivery, potential government regulations, and a lack of brand royalty. it says the shares are worth 40% at best. pay onod markets is to , putting a compliance

i want to highlight a note from goldman sachs. this period, you outside risk to their 12-month target. the broad dollar weakness has been very much in focus. >> let's move on to the luxury carmaker who has weathered the pandemic storm keeping cash margins helping. bloomberg asked the ceo about demand returning across europe and when he expects business to return. >> 2022 is a pretty good estimate. we're flexible. should the vaccine come back faster. we'll be able to react for that. we have made adjustments to our cost structure. if the market is not on that level, we can protect healthy margins and healthy profitability. there's a germany, prolonged lockdown in many parts of the western world. does that make you have to rethink your most recent forecast? the situation is fairly robust. two factors are key compared to what we had in the lockdown in april and may. our dealerships are open. more importantly, the registration office is where you register your car. should they shut down, that would have an effect. we watched this situa

goldman leaving less. the stock market matters this year.ill continue to, is what you are asking. you are saying volume can make up for -- especially if you get a tag on m&a after that. sonali: on top of that, a lot of the biggest ipo's in the world and even happen in the unit states. looking at one of the more active markets in the world, what drove activity on this side of the atlantic was that market, on top of all the other ipo's you saw in asia. who knows? reporting and are talking to your sources, what they have stock that has been the case april 1 of this year? angelica: one of my favorite anecdotes -- sonali: one of my favorite anecdotes was talking to the ceo of evercore. he was counting hominy days evercore had cash on hand if their clients paid them nothing. from march, when you are wondering whether you are going to make much money at all, to having one of your best years on from where far cry we thought we could end up at the beginning of the year. by the way he also said a lot of this is because of the monetary and fiscal stimu

that's in addition to -- exxon, conoco, wells, nike, boeing, ford, raytheon, goldman. it is typical of year end, but it is adding up. >> i don't mean to be a dollar sign represented by a man, but every one of those stocks is worth buying because of the tough actions they're taking the top line is not that bad all those companies, i have been recommending ford, goldman, i'm trying to get my arms around 3m, it has been dealt a bad hand, and a lot of different places, but i think they're coming back. and i don't want to -- it is very tough you have to distinguish stocks from people. and it is painful to look at the deaths and then look at the layoffs and then look at the profits. >> without a doubt and as carl said, 2900 positions globally for 3m, and the numbers there, you know what they wanted to tell us, total pretax charge, 250 to 300 million and various other charges, with the hopes that annual pretax savings between 200 and 250 million from the actions. the actions themselves sounds like things that businesses just do really they're going to eliminate redundancies a

they're not going to close goldman.hey also can't merge it it is 85 billion goldman sells at ten times earnings largely acknowledged being the best of the brokers. >> yes they're frustrated at goldman because they also think that they have an incredible merchant bank, alternative asset business they get no credit for to the extent they can start to focus investors on recurring fees from that business, a la black stone, they believe they can get the stock price up what is the larger question for goldman, of course, revolves around their efforts in retail and markets and whether that money they put toward it is going to end up boog a goeing a return on investment. >> i feel like what happened is that people don't understand that investment banks are different from regular banks and that, again, is because the etfs lump them all together f you speak to james gorman, he's eloquent in talking about how he's an asset management business and asset management is sticky and it is good i don't know i like him >> i'm thinking what

goldman sachs is a bank. it has more than just asset management.we see more parts of the financial industry move there, the question is how much of the industry moves out of new york? jonathan: what it comes down to is not the end of cities, the end of expensive cities. that should be the conversation. over the last few months, people have been talking about, will cities make a comeback? the conversations we are having right now is about what happens to the expensive cities, like london and new york. >> that is the question. we are not talking about them moving to the middle of the country, we are talking about them moving to palm beach county , fort lauderdale, dallas, texas. another city i ask about is denver. you see so many tech titans moving there. about taxation. if your employees live in a lower tax base committed to you need to pay them as much? you can pay less for real estate as well. this is not about the death of a city, this is how about a city moves through a tough time and whether there will be flight from new york city we have not s

so when pete was talking about goldman, i think something really important to remember there is goldman, yes, it's worked but it's still only up 13% on the year. trading at 11 times earnings it's had phenomenal fundamentals there's room for the price to grow into the fundamentals versus the other ones on that list to me where the price is already here and now you need to hope and pray a that the funthae fundamentals and revenues crgrow it wouldn't be my top choice >> jenny, go ahead, quickly. >> on bitcoin, i'm never going to choose that because to me that's a speculation, it's not an investment. there's no intrinsic value whatsoever all that is is a reflection of other people eaves beha's behavd emotions there's nothing actually created, no dollars created by bitcoin. there there are some people who would dispute that some big names are placing their bets in bitcoin. >> farmer jim. >> i voted exxon mobil i don't own it because i own mayor than petroleum let me fill out -- i may switch from marathon petroleum once it goes through what it's going to go through with this sale, i might swi

are now telling you that there's aliens amongst us one of the big names in manhattan of course is goldman sachs and they've been there for well over 100 years goldman sachs plots florida base for asset management in a blow to new york the banks success in operating remotely during the pandemic has persuaded members of the leadership team that they can move more rolls out of new york area to save money remember this. this guy from the israeli space force talking about the galactic federation says they're here performing experiments so this pen demick could be an economic experiment on how to save money and reorganize this economy well because it is an experiment the creators anonymous i mean that's from me in the collecting federation obviously coping 1000 is a biological experiment see how that goes in the smog in the restless and silicon valley are busting up and moving to other states primarily texas wall streets busting up moving to other states like miami and this is the great rearrangement of the truckers border that just border the go border and the gameboard of the monopoly board i

warren buffet and goldman sachs ceo david solomon, join us to discuss.egins right now ♪ >>> good morning, welcome back to "squawk box" right here on cnbc i'm andrew ross sorkin along with becky quick and joe kernen. take a look at u.s. equity futures this morning about 2 1/2 hours before the markets expected to open up right now about 164 points higher s&p 500 up about 21 points, nasdaq up about 52 points but it's been a bit of a wild ride these days so we will see where things land at the open, and we will see where things land at the close. >> yep the first shots of pfizer's covid-19 vaccine being administered to health care workers, marking a pivotal moment in the country's long march to bring the virus under control. today, we're expecting news on moderna's vaccine, and its attempt to get emergency use application. i'm glad they didn't tell us it was going to be at least a year, meg, back in february or march, i guess, right bu, but it's goig to be over that at this point. but it would have been harder if we knew that maybe progress, progress, tell u

our bloomberg finance reporter with the latest on goldman sachs.ck of business flash headlines. waddell and reed are up after hours after an agreement about the u.s. asset manager for $1.7 billion. the deal at $25 a share represents a 47% premium to wednesday's close in new york. the deal will lift macquarrie asset under management. the vastans to fly majority of its pre-covid domestic schedule by early next year and says it is on beat about the recovery. the airline expects capacity on domestic routes to reach more than two thirds of normal levels , in december increasing to 80% and in the first three months of next year there will be no international flights until at least july. trade officials from the u.s. and european union are said to be pushing to settle a long-running dispute over aircraft subsidies before president trump leaves the white house next month. we are told washington and brussels are in regular contact. plenty more to come. this is bloomberg. ♪ wanna lose weight and be healthier? it's time for aerotrainer. a more effective total

what goldman sacks is reportedly thinking of doing. it's monday, december 7th. this is ""worldwide exchange." ♪ >>> good morning, good afternoon, or good evening welcome from wherever in the world you may be watching. i'm brian sullivan thank you for joining us here is one reason to like this monday there are 25 days left in the year 2020. it can't get out fast enough can we agree let's see how your money looks now. futures are down about half a percent down dow off about 133. wall street coming off another good week for stocks the dow was up last week that's the ninth record close of the year on friday of course, it's not just the dow. the s&p and the nasdaq also closing at record highs. that's the first time the three have done so at the same time! three years. that's an rbi for you. hard to believe but true one thing watch, of course, inside the markets is this increasing growing fight between so-called value and growth stocks the two kind of at an inflection point in some ways one on the way up. one may be on the way down or at least flat something to watch

that was part of goldman's point. nobody really truly believed and that's why some of the expectations they think are going to be coming up. we'll talk more about that later on today we'll take a break got to talk some tesla third capital raise of the year. and some story lines that dove tail with goldman on that. we'll get to stitch fix, toll brothers, uber, as david said, at&t, this fight with t see rurwknolan when "squa onhetrt"etns i felt like... ...i was just fighting an uphill battle in my career. so when i heard about the applied digital skills courses, i'm thinking i can become more marketable. you don't need to be a computer expert to be great at this. these are skills lots of people can learn. i feel hopeful about the future now. ♪ people are saving hundreds on the most reliable i feel hopeful in a land not so far away, network with xfinity mobile. they can choose from the latest phones or bring their own. and choose the data option that's right for them. they even get nationwide 5g at no extra cost. and sin

goldman sachs and on the other side is morgan stanley who is getting it right?etation of one data point, saying the long lead time. meaning they are going to be selling 11s over 12s whereas morgan stanley says there is demand for this product. >> it is not only the demand, but when i read through, kate was talking about services and products, like the air pod max they have got that is $549 when we look at this, the fact she is focused on that particular area because of the margins and the reiteration of a sell on a stock just coming off the all time highs katie has been right and more consistent and i think she's focusing on the right thing. we all know that the 5g phone will be something that is a nice piece, the addition apple needs. but on the other side she and they are focusing on where are they getting the money and margins. i think that's the most important question and where the growth is. i still lean towards katie i know she has a price target well above where the stock is here >> it is rare to have accelerating on any stock, let alone one of the most

. >>> goldman sachs has picked some new winners and losers, and at this hour goldman's warning there'shead for best buy next year saying it'll struggle to match sales seen this year. goldman lowerrerring it to a sell rating from a neutral, but retailers levi's and ralph lauren, the jeans maker has an attractive risk/reward profile heading into the new year. i don't know what that means, but it's fancy goldman speak, right? levi up 2.6%, and goldman also giving ralph lauren a two-notch upgrade based on confidence in the company's digital channels and new brand initiatives. that i get, up 3.5% for rl. we've got some moves in the auto world. tesla's market cap falling below $600 billion after news street research analyst downgraded the stock to a hold telling investors, you know what? may be a good time the take some profits ahead of tesla's inclusion into the s&p 500. not killing the stock, it's up 3%, 622.79. but we've got to get to human far which you can see -- luminar falling after a crazy great ipo last week. it is extending losses after citron research and its short seller calls sa

taxes and empty buildings during covid have some companies moving south we look into the news that goldman sachs is eyeing new real estate ♪ the times, they are achangin' ♪ >>> and bob dylan selling off 60 years of music the decisions he made early in his career that made this move possible

maybe the goldman sachs judgment, for instance, and there's more trouble ahead it's on a knife's edgee. the risk to the downside, just for what it's worth, is the stock gapped up on its earnings be on july 22nd, on a big beat from 90 to 100, and that gap looms below. this is the kind of thing we have to do with your options, buying the stock outright here is too risky >> all right for everything "options action" check out our website optionsaction.cnbc.com while there sign up for the newsletter here's what's coming up next >>> buckle up "options action," fangs. tesla just zoom the its way into the s&p 500. professor koh takes the wheel and explains why that's a big deal for the entire index. >>> plus, calling owl "options action" fans, reach into your pocket, grab your phone and tweet us your question @optionsaction. 'lanert nice, wel sw ion air when "options action" returns. ♪ ♪ ♪ ♪ ♪ ♪ >>> welcome back to "options action." a check out shares of tesla. they are moving lower in the after hours as the company zooms into the s&p 500 with a market cap of roughly $632 billion. tesla is no

we look into the news that goldman sachs is eyeing new real estate and a cheaper hub for some of its workers. ♪ >>> and bob dylan's big deal, selling off 60 years worth of music. the decisions he made early in his career that made this move

if it's a scale play from goldman, they need to broaden their customer base. they need feeder clients for the white glove part of their business what you have seen with morgan stanley is a different scale business that investors really like higher, annuity type businesses with up and down in market capital this is where you want to get to scaling. >> you can read more on hugh's story as well as cnbc. wa walmart shares under pressure. we will be back right after this on "closing bell." with a bang, energy and change came to every part of our universe. seismic or small, it continues. change is all around us. shaped by technology and human ingenuity, we can make it work for you and your business. >>> check out shares of walmart. ending lower after report of a lawsuit centering around the opioid crisis. the doj claiming they underchecked for speed and walmart said it is cherry picked documents taken out of context. shares were down about 1.25 today. sarah? >> will this ipo lead to the end of ipo as we know it yeah, but what if i never hear back? that's gonna make

charlie breaks it on goldman sachs' deep dive into china and why it may just be the start of knockingmp administration's great wall against the world's second largest economic power. >>> and on this safe harbor day, where states must certify the results of the presidential election, my everyone talks to liz podcast guest this week is fox news senior correspondent and anchor eric shawn. eric has been elbow and knee deep in the election coverage. he was on the ground in pennsylvania. i asked him all about his coverage on the ground during this very controversial election. you've got to hear his behind the scenes stories, his ground-breaking reporting and of course, you may not know this, who his mom was. a soap opera star darling. eric shawn. you've got to hear it. a lot of people have already downloaded it. spotify, apple, google, wherever you get your podcasts. closing bell ringing in 19 minutes. we'll be right back. some things are good to know. like where to find the cheapest gas in town and which supermarket gives you the most bang for your buck. something else that's good to know?

i think what goldman sachs is saying is we are looking at moving gsam, goldman sachs asset managementt's final, maria. golgoldman sachsput a fabulous e west side highway. it's run by new yorkers. yes, it's a global firm. but new york has been and will always be, in my view, the financial capital of the world. capital of capital starts right here in lower manhattan. maria: yep. well, it's an $8 billion revenue generating asset management arm and by the way, right now this is a bloomberg story, there is now the most a office space empty in manhattan since 9/11 right now. dick grasso, always a pleasure. great to talk with you this morning. stay with us. we'll be right back. yeah!? i switched to geico and got more! more savings on car insurance!? they helped with homeowners, too! ok! plus motorcycle, boat and rv insurance! geico's got you covered! like a blanket! houston? you seeing this? geico. expect great savings and a whole lot more. hmaria: welcome back. two of the most wanted gifts this holiday season have been some of the hardest to find, both the play station 5 and the x-box serie

remember, goldman sachs at its peak had 90% oft(employees working from home.rcing and locating to lo+jcoste environments like india and poland and salt lake city it's not just for lower cost jobs anymore now we're talking about higher saving money you do have head winds in the banking industry they're not going away that's why whether you use technology or real estate or other means, banks must become this news that has not been confirmed by goldmanx sachs bu it could beÑiconsistent with their goal to save through effective real estate management area, every headline like that puts you on edge thank you for your thoughts today. u1=q of props. ;for ipos the airbnb isÑicoming out door dash. $debuts airbnb targeting a $42 million valuation. rorit's not just u.s. markets atecd highs, lpemerging etfs at an all-time high today. is this just the beginning of a bigger breakout? "power lunch." by putting people first. we see a bright future, still hungry for the ingenuity of those ready for the next challenge. today, we are translating decades of experience int

goldman upgraded exxon mobil today to a buy and is raising its price target from 52 to 42 setting theirm's bullishness on crude that you heard here on monday and it's the second upgrade in as many days. yesterday wells fargo raised exxon to overweight saying it's, quote, the most eyebrow-raising ratings change, an overweight but exxon is already up 20%, my, over the past 20 months. >> yeah. the market has prompted some of this re-evaluation of whether in fact the worst was priceded in a couple months ago and now we can price in higher volumes in terms of fuel consumption and then we see is the higher prize. it's very unclear as to whether in fact this is going to be a long-term renaissance for exxon. still questions around the dividend policy and all the rest of it and just on any long-term basis it looks like the pendulum is swinging back in a mean reversion way in favor of energy for a little while and probably will continue to be a reprieve for this group. >> bob >> yeah. that's why i would say -- i agree with mike. it's about mean reversion. that's why i don't think this is such a

goldman's on board tpg. i think our viewers are probably familiar with your marketing, at least a little bit just why why now? is this about riding a technology tail wind or a moment we're in as a society? >> i think it's a bit of both. we have had a tremendous year. the world has had a pretty terrible year and anxiety and stress are on the rise we know to support millions of people with the tool that we offer. we're always getting hit up by investors and normally we wouldn't potentially be raising right now but we thought this would be worth putting some more on the balance sheet even though we have been profitable for many years and bring on some other great investors. we're excited to have goldman sachs. it was kind of an opportunistic thing really >> i've got two questions on costs. one is custom rack is it any different given the con tent business you're in and content creation i wonder relative to other types of content how expensive that is to produce >> costs is pretty favorable for us partly because

take a look at the driving forces behind that goldman sachs upgrade.y're talking about the battery adoption side of things. that is a key point for the upgrade. there is bullish commentary coming out for the particular analysts the next one, a little earlier on, alexander potter, again, piper sandler, after solid execution in the third quarter, tesla still deserves a must own status so positive kmen tacommentary te then they rounded out with something negative this is over at needham. we never saw a stock rise that fast that high without fundamentals tesla was a $75 billion company to start the year. $75 billion. we just showed you, $550 dlsh billion market cap if you look at the biggest companies in the s&p 500 which tesla will be at one point in just the next few weeks, take a look at apple, you take a look at microsoft, you take a look at amazon, those particular moves there to put it in context, apple $2.1 trillion. microsoft, $1.6 trillion amazon, $1.6 trillion. tesla will be the number six stock in the s&p 500 if it were to go in today so, carl,

sharon bell of goldman sachs is still with us. you like u.k. stocks? why? it seems like a brave call at the moment. there are a few reasons. beexpect a thin deal to agreed sometime before the end of the year between the u.k. and the eu. that is our expectation. reducell be helpful to his perfection when it comes to the u.k. we also like value companies including commodities and financials in the u.k. that have techge weight relative to where the equity index has very little representation. the sector exposure the u.k. has , the fact that is the u.k. economy will be quite choppy on the upside, we have an expectation of 7% gdp growth next year. that is above consensus. globally we expect -- it is above what we expect globally. the u.k. is digging itself out of a deeper hole. ,rowth has been incredibly weak but it is also because the u.k. is rolling out the vaccine quickly and it is a service-based economy. fewer restrictions. ftse 100 or ftse 250? sharon: it is a tricky one. probably has the least to from a brexit deal because it is global, international, and

that's right boeing, which is actually most of it, then you got goldman sachs, disney and honeywell.s been a pretty narrow run recently for many of the mega caps. you may not care if you own the dow etf, but still 4 of the 30 names accounting for all the gains of the past three weeks. >>> time for your real morning rbi. and the most random but interesting thing has to do with some other pretty amazing stuff that just happened in the stock market the nasdaq 100 actually fell wednesday. shocking i know because as you no doubt know, that index had been higher ten sessions in a row coming into yesterday. that's right, a ten day win streak, remarkable or is it because we've now actually had ten plus day streaks a few times over the past decade according to instanet. listeni longest winning streak was 14. we had 13 in 2010, two in 2009 and 2017 who cares, why are you bringing up all these numbers because get this, the nasdaq 100 was created all the way back in 1992 and do you know how many ten day win streaks there were in that index from 1992 to 2009? any guesses? zero that's right the go

we look into the news that goldman sachs is eyeing new real estate and a cheaper hub for some of its workers. ♪ >>> and bob dylan's big deal, selling off 60 years worth of music. the decisions he made early in his career that made this move possible >>> a thousand new jobs are coming to walmart. and that is topping "on the money. the world's largest retailer opening a distribution center in south carolina, part of a $220 million investment in that state. it means more business for the port of charleston, volumes expected to increase 5%, a positive for the region's economy. >>> sign of the times, the iconic ikea catalog will soon be a piece of history a victim of the digital aid. it acknowledges a growing shift toward online browsing the first catalog released in 1951 and at its peak in 2016, ikea printed 200 million copies in 32 languages. >>> and wayne gretzky may break another record the hockey great's rookie card up for auction expectations are high too. the auction house predicts it could fetch $1 million and if it does, it will be the most expensive hockey card ever. >>> on wall

well, it looks like sucking up to china paid goldman big dividends. the investment firm just confirmed that it will be the first global bank to get full ownership of its securities business in china. and what about jpmorgan chase's ceo jamie dimon? ever since that meeting with the ccp official in 2018, he has been extremely bullish on china. >> as, you know, an investor in china, you slow down for 4-5 years until you see the lay of the land, or you go all in? >> we are all in, so we are not slowing down. >> laura: we are all in. we are not slowing down. not now. i'm sure it is a total coincidence that china decided to give jpmorgan full control of a futures venture in which it had a minority stake. huh. and lastly, blackrock ceo larry fink, i will put it this way, if traveling before the chinese communist party were an olympic sport, fink would be draped in old. in november 2019, he told his master's that blackrock should be a chinese company in china. to his chinese host, it was welcome contrast to the hostility from washington. larry fink wears his

goldman sachs the conference that was me i used to work at goldman sachs and in 2008 that was a conference that i held there's this absolute intuitive the peel that says population growth is outstripping the water supply that must mean companies are engaged in the water business are a sure thing that there can't mess they get mesmerized by these mega trend appeals and water. is water the next oil we set it up as a question and then mostly dismissed it. water does not have sophisticated trading market and has no substitutes. the question is not going to go away we're just probably not ready for it yet. goldman sachs and its investors must wait. public opinion is not ready yet. it's not until 2015 and the international climate change conference in paris that the will lead is finally declare a state of emergency. we act here if we act now. of replace our own short term interest behind. the air that our young people will bring even the food that they will eat no water that they will drink. in the hopes and dreams that sustain their lives then we won't be too late for them. in the developed wor

as you may recall, goldman set a very ambitious goal of saving $1.3 billion in cost. to people close to the matter, goldman may still decide to keep their asset management division in new york. it could also decide to relocate more jobs to dallas, another warm weather city where it has been expanding its role. unit, ast managing they mentioned, the firm made a billion in annual revenue from this division in recent years. the allureold or -- of florida is well known. it is a warm weather state, there is zero state income tax for employees, there is also a much lower cost for office space, for living space, and that has been part of the draw. the deliberations that goldman, which is often a trendsetter on wall street, is adding to the cloud over new york's future. as we know, the city has seen a steady exodus, not just of residence, but also of white-collar jobs to other areas where there are lower operational costs. juliette: you are talking about how this could all hurt new york city. do you think we see more firms follow suit and had to florida? su: let's talk about

that would be a huge blow to the city cost cutting said to be a driving force, and goldman is not aloner-tax states are trying to lure companies away from high-tax states. uproot be operations is easier than ever. here's cnbc's scott kohn >>> the gleaming office tower, so pre-pandemic. tom stringer says business is already looking past covid-19. >> corporate america learned it could do without a significant amount of real estate and cost associated with that on the balance sheet. >> reporter: goldman sachs is looking to cut more than a billion dollars in costs moving some people someplace cheaper would go a long way. hewlett-packard enterprise, a spinoff from the giant silicon valley company is moving its headquarters to texas. elon musk has told friends he's moving from california to texas. his company, tesla, is building a new plant in austin. >> it's the low tax or no income tax states making a difference >> reporter: with no individual or corporate income taxes, florida and texas have some of the lowest taxes in the country. new york and california have among the highest. but others

jump inted in a 39% goldman trading revenue and this has goldman trading division reclaiming its statustelling bloomberg the firm is likely paying the fixed income traders even bigger bonuses and this is in part out of concern that the star traders could be lured away by deep-pocketed hedge funds like ken griffin citadel or big funds owned by steve cohen that have already -- there have already been some reports the traders have already -- bonusesefore his have been handed out. haidi: how do these compare to other banks? we know banks throughout wall street really had stellar gains and we also know that j.p. morgan was clearly the leader of the pack. people are saying that j.p. --gan, chase are boasting boosting bonuses by about 20%, bank of america executives floated the idea last month of keeping the bonus pool at last year's level, no final decision has been made and we reported just yesterday that barclays was weighing boosting the bonus trade by about 10%, again, no final decisions. your quicks get check of latest's nest flash headlines this hour, a new report ahead of tesla's inclu

goldman takes stitch fix to neutral today. we get a downgrade of snow, downgrade of tesla for the second day in a row. we'll get to some of that in a bit. i do want to get you back on vaccines, though because we got to this news out of sanofi, they have to do more trials, probably second half of next year. we already talked about vaccine supply worries on pfizer, the allergic reactions in the uk azar today did say that the agency is going to move fast to finalize this thing and then you had frazer of merck with characteristic caution on our air yesterday. take a listen. >> these vaccines have had stunning efficacy. and we should all be very optimistic about it. where are we going in the next six months as everybody knows is we have to assist in making sure that those vaccines get to the most vulnerable populations and to healthcare workers. after that, we can talk about a more general rollout but that's probably going to take longer than six months. >> so hhs today, jim, says 20 million in december in terms of vaccinations 30

>> goldman sachs wouldn't like that all right.e'll see. >> we'll see. >> don't people have some patriotic duty to their own cities a little bit is it just -- i don't know. >> who knows. >> yes i've moved around a lot. and i wouldn't mind my money going to new jersey. >>> guys, this theme is kind of playing out in the markets all over the place it's part of what blackrock is unveil agent the global investment outlook joining us now with an exclusive look at the themes dominating the next year is blackrock's global chief investment strategies mike pyle you think it's because of discussions like this one with goldman sachs, right >> i'm from brooklyn so i have my future -- right here. but, yes, we look ahead into 2021, i guess we say a couple of things one, like a lot of people, we see a constructive backdrop for equities and other risk assets one of the reasons we think that is so is one of these more durable investment themes over the medium term. what we're calling the new nominal. that's a view that interest rates will stay prett

goldman sachs sees a relatively rapid rebound given the rollout of the vaccine, also the reliance onhe services sector and the link between the vaccine and services getting back to normal. >> we are going to see a relatively quick rebound everywhere if you look at numbers in the sense that we had a large contraction in the u.k. as well as many european economies. a little bit less in the u.s.. those economies that have been suffering heavy recession this year will be coming back on the back of them vaccine. you will see numbers that are very high. similar to what you saw in the third quarter compared to the second quarter this year. the longer-term outlook for the u.k. is a bit less certain well the u.k.ow economy can flourish outside the single market. with the ability to set regulations, to set policies more independently of the eu, will this have the impact some hope for for growth in the u.k.? the immediate rebound next year should be numbers compared to this year. that will happen in the u.k. as well as elsewhere. anna: when you look at frexit negotiations, if we make the heart

should audience follow big banks, jpmorgan, goldman?oldman the big gainer today, is this a great time to buy them? >> i think it's a great time to banks will be beneficiaries as we get through the pandemic. they are huge part of the recovery. they do underwriting. they do asset management. they're involved in the ipo process. they will be a huge part what brings us through the pandemic through the second half of 2021. charles: right. >> i would buy banks. charles: friday after the close, tesla, golly, added to the s&p 500. it trade ad gazillion shares. set records across board for volume and everything. they got a new target, 750 from 517 at wedbush. are you buyer? a lot of people lost money trying to predict the top on tesla, even shorting it. can it keep going up? >> i don't know if i would be shorting tesla. the mow momentum is strong. a lot of hype is pushing people into the stock. the fundamentals are not great. when i look at the stock it is trading 250 times its 2021 earnings. it us really expensive when i look at a stock with va

we can ask, as a new yorker, i can ask the goldman sachs of the world to stay in new york.ould try to make a moral argument to stay in new york i could even go farther than that, which is to say that goldman sachs got $115 million tax break to build their headquarters in new york city back in the late 2000s when they built that headquarters, but the real question is beyond salt, which may be able to be repealed, though i don't think there's a big appetite to do that, what you think states and cities that are in these positions should be doing? >> well, i just want to stick with salt for one second, and i'll answer your question. we have to focus on repealing the salt deduction it's exacerbating the problem we faced before coronavirus but exacerbated by coronavirus, and the salt deduction makes it that much worse, the cap on the salt deduction, and anybody that contributes money to politicians that don't support the reinstatement of salt cap, we're going to publish their names starting in april. as far as other things cities have to do, municipalities have to do, states have