thank you. >> thank you. >> jane fraser, ceo of citigroup, back to you. >> we'll see you in a bit withs&p gainers on the week. benefitting names like expedia, that's going to be the highest level since 2022. tesla as well is reapproaching a $1 trillion market cap. dow is up 233. session high, stay with us. ♪ >>> welcome back. i'm pippa stevens with your cnbc news update. a federal judge ruled against president biden's program, offering a path to citizenship for undocumented spouses of u.s. citizens. the judge said in the ruling the biden administration didn't have the authority to create the program. it's notclear yet if there will be an appeal. about half a million people would have been eligible for the keeping families together program. hungary's prime minister predicted today president-elect donald trump will end u.s. support for ukraine. the nationalist leader, viktor orban called on the european union to rethink its support for kyiv, saying it cannot finance the war alone. meanwhile, russian president vladimir putin congratulated trump on his victory yesterday. and dodged a quest

sonali: like jane fraser said to me, game on when it comes to m&a, everything up for sale. we thank you for joining us in new york. coming up, new federal rules under trump could relax regulation on self driving cars, according to sources familiar with those plans. what that means for tesla and industry, next. this is bloomberg. ♪ your record label is taking off. but so is your sound engineer. you need to hire. i need indeed. indeed you do. our advanced matching helps find talented candidates, so you can connect with them fast. visit indeed.com/hire at t. rowe price we let curiosity light the way. asking smart questions about opportunities like clean water. and what promising new treatment advances can make a new tomorrow possible. better questions. better outcomes. sonali: this is "bloomberg markets." i'm sonali basak. tesla trading higher after a bloomberg report saying trump officials will be looking to ease regulations on self driving cars. this comes over month after tesla's ceo, elon musk, held an event unveiling automated cars and buses into moment. muska has been a

jane fraser, and ibm ceo, both of them are on "squawk on the street" this hour.d palo alto and t-mobile. it will be a good chance to get a first response to the election and a lot going on there with generative ai and all the transformation. it has been a busy day for earnings and street calls. dom chu tracking some of the movers. >> some of the key analyst calls out this morning. tesla shares up 1% or so after bank of america raised the stock's price, and it was up 15% yesterday after the donald trump victory. arm holding shares after the price target increase at jpmorgan, and barclays. keep an eye on that one. on the flip side, jpmorgan lowering elf beauty and reiterating the overweight rating on the stock. this comes as the company's recently quarterly report shows a 40% jump in shares. and qualcomm, up 2% on the back of a strong fourth quarter earnings report. jpmorgan's price target sits at 200 with the overweight. >> thanks for that great roundup there. >>> let's look at the white house. president biden is getting ready to address the nation from the rose g

. >> that was citigroup ceo jane fraser talking with me friday in pebble beach, california.round lower regulation and more constructive policies. that was in response to a question i asked her about whether the stock move, her stock was up 7% last week, made sense. you know, for citi in particular, and i think wells fargo is in this bucket as well, these seem to be bigger beneficiaries, because they have been under more scrutiny from a regulatory perspective, under more punishments. i asked her if she was looking forward to getting rid of the consent orders, for instance, with the new republican-led regulators, which obviously she wouldn't comment on specifically, but it has been an issue for citi, so much so that in the last quarter, where we also talked about fraser's transformation, she's been undergoing here at the bank, she said there were signs of progress and all five of the businesses. the stock sold off, david, because there was this confusion about regulatory policy. she had to clarify that they are not under a new -- under any sort of asset cap because senator eli

yesterday jane fraser of citi said game on. our clients are waiting. there has been pent up demand.a lot of m&a. jonathan: we will play the interview later this morning. that is why the financials have ripped over the last five or six sessions. foreign-exchange. the u.s. dollar hitting eight two-year high -- a two-year high. broad-based ankle lasted 2025. the interest rate cycle will come to a halt earlier at a higher level due to trump's policies. jane, welcome to the program. not everything on the campaign trail will become reality. you are making some underlying assumptions. could you share them with us this morning? jane: with respect to the trump tariffs we don't know. no one knows how much of this tariffs would be pushed through on china or elsewhere. we are receiving some of the stairs will get pushed through. that will be inflationary. the economy as it stands now is relatively robust. we think we might see the fed cutting interest rates again in december and january. after that, we are skeptical as to whether or not the fed will be able to carry on cutting interest rates. t