but hermes might have a better shot because the consumer might be confused about whether hermes is associated with these meta bargains. -- birkin's. >> i am interesting in the financial guidance coming out of these. how do you think it will impact going forward? what are people going to be looking for to help dictate future decisions around this? haven't companies in particular potentially front run this so they -- how can companies in particular potentially front run this so they don't end up in court? >> companies can start filing trademark proactive categories that might cover in ftes. -- nft's. there is no specific category now that covers in ftes. or, -- nft's. or collaborate with artists from the start like louis vuitton has. otherwise people are watching the space to see if the supreme court or another court does clarify that this might give brands a better outcome for these cases. >> is this the first major legal action we have seen? >> yes. there have been other suits involving nft's and artist rights but hermes is the first large company, really high-profile plaintiff to take on the

linda duessel of federated hermes, thank you very much, indeed.c expected to continue with its 400,000 barrel a day hike. how much spare capacity is there out there? we will figure that out next. this is bloomberg. ♪ ♪ guy: oil tracking higher, up by about 1.5 percent on either side of the atlantic. opec+ led by saudi arabia and russia agreeing to revive some of the cartel's halted output. they are going to proceed. -- going to proceed with the $400,000 a barrel -- with the 400,000 barrel a day hike. julian lee, bloomberg oil strategist, joining us now. give us the take away from this. this all looks fairly straightforward. it would appear as if opec has a much higher degree of certainty as to what the outlook looks like. julian: they certainly seem much more comfortable making an output increase this time than they did last time. there was none of last month's dramatic decision to keep the meeting in session, and whiting that meeting up -- and winding that meeting up was the first thing they had to do today. this was a very smooth meeting, very q

jonathan: rj gallo of federated hermes, thank you.f you are just tuning in on tv and radio, moments ago with caught up with the former new york federal reserve president bill dudley. lisa, it has only just begun, the world to bill dudley. lisa: he is basically saying we need to do a lot more work and there is not the fed put that many people are expecting. what we have heard it's a number of different strategists saying they expect the fed to step in perhaps after a bigger selloff than people are comfortable with, but will they selloff at all, especially if the markets are as resilient as they have been? jonathan: you can't remain in the fantasyland of a dovish forecast indefinitely. some really powerful words from bill dudley this morning. tom: i think that is the point this morning. i have never seen a note like this from a former officer of the federal reserve. it is a forceful note, and direct. jonathan: a bit of news on novak djokovic. djokovic's released. he was training on the tennis court. this according to his brother. people

. >> before marilyn has time to take it in, the press descends on herm manhattan apartment. >> have youlooks so fragile and flustered. yet, she's someone that knows how to work the press but you can see the cracks of this is really overwhelming and i'm trying to make sense of this huge change in my life. >> when are you planning on having children? >> not right now. [ laughter ] >> only two weeks later, marilyn and arthur are married. >> she wore my wedding vail and what i did, my vail was white, so i dumped it in tea. she loved it. >> she thought she was getting the final thing she wanted, which was a complete and happy family but she doesn't realize that she's heading into a storm that's what is coming next. (vo) this year, t-mobile for business is here to help you hit the ground running. when you switch to t-mobile and bring your own device, we'll pay off your phone up to $800. you can keep your phone. keep your number. and get your employees connected on the largest and fastest 5g network. plus, we give you $200 in facebook ads on us! so you can reach more customers, create more opp

i've got montclair down by 11%, hermes down by 12%, nearly 13%. lvmh has been under pressure.t do you think about the sector right now? is this an opportunity? roland: like the tech sector, like all of the growth and quality sectors, luxury has been taken in this wage selloff we have seen on the high expensive and quality names. we think it is a good opportunity to reenter this name. we think if you look at earnings growth it is still around. this year we expect 14% increase in earnings, and you can enter at a much cheaper price. you can enter the sector, so it is much cheaper right now. if you look at fundamentals, clearly you have this huge quantity of savings from households. that is the benefit from luxury goods because if you look at the savings, it is really on the high wealth households. that is also a support for luxury goods. kailey: in the luxury sector, specifically in europe, how sensitive is that to china in a slowing china, and a china that has a very strict covid zero policy in place? roland: we did a lot of calculation and tried to see if there are some sensiti

heard from, again, putting too words what took place earlier today and obviously the creincredible herm from the men and women of the fire department, some of them who rushed in without their oxygen tanks. the governor spoke to individuals, many of whom lot of their belongings but one woman in particular losing her entire family. they're renewing this effort for many of these first responders and officials to try to make sure these families get the help they need. right now members of the community are coming out with clothes, warm meals for those families. they'll need assistance tonight and long term as well. >> a tragic day. polo sandoval from the bronx, thanks so much. i want to bring in bronx borough president vanessa gibson. ma'am, it's a horrific day for so many families, obviously, in that neighborhood. tell us, how are people doing there, how is the community responding to this? >> so far, you know, the residents of twin parks are very patient. they've been waiting for hours here in the evacuation site, at the neighboring school. they have been registered with the red cross to

hermes the luxury retailer was keeping shoppers locked out of stores because they were only letting ones been closed along with many other luxury retailers. so crime is going to create a recession of unprecedented proportions between workers not being able to work, shoppers not being able to shop and retailers not being able to sell. maria: wow. the lawlessness is so incredible, in 11 months' time our country has changed completely. burt, it's good to get your the take on all of this. thanks very much. we'll be watching the scary headlines. burt flickinger on retail. thank you, sir. >> thanks for honoring ronnie spector. maria: sports betting now legal in new york. how it could pave the way for gambling on everything from elections to the weather. we're going to check it out. bet on that. and then return to work hits a roadblock, what the majority of americans say about heading back to the office. we are exploring it in the morning's hot topic buzz. you're watching "mornings with maria" live on fox business. with my hectic life you'd think retirement would be the last thing on my mind.

joining me now, federated hermes chief investment officer, steven auph.ning the conversation all morning long, former trump and george w. bush state department senior advisor, christian whiton and ryan payne. great to see all of you. steve, where do the markets go from here? what are your concerns this week and this new year? >> we've got them going higher again this year, dagen, although it's probably our most muted forecast we've had in the past couple years, targeting 5300 on the s&p, which implies low double digit returns. we think there are increasing policy risks out there that are going to create more volatility. but if you look at the underlying backdrop, it's pretty good. the economy looks very strong. the fed is starting to taper be andhopefully getting off its hoe on interest rates fairly shortly because that's the big risk that i think long-term investors like us are worried about, that they wait too long, inflation gets out of control, it may already be, and they can't pull it in quick enough and then they have to start to panic. so for us, i