ken langone has decided to throw support behind nikki haley. what was your reaction? was grateful, appreciative, excited. not just with my involvement but that she's beginning to get significant traction. i've been to a few of the events and these guys know how to raise money and having them in her corner is no small feat and i do believe, you know, the other thing that she said when she came in to see me, did you know that she's flying commercial in her campaign right now? i was shocked and i was pleasantly surprised. just thinking of that, and i think she comes in second in iowa, which is a good chance, in my opinion. i think that she will have that with the rest of the candidates. >> well, ron desantis plans to win iowa outright. >> welcome that's my point if he doesn't win it and trump will win iowa, if ron desantis will come in second. >> he thinks he has a good shot at winning. >> welcome let me say that he would be a good president as well. we just have to have a winner, we need a winner badly. what has gone on in the country for the last eight years is disgrac

ken langone is here.g her in this election. >>> a big interview thwi treasury secretary janet yellen coming later on "squawk on the street." stay tuned. we'll be right back. accelerate growth, predict trends, you need to begin with trust. introducing watsonx governance. helping you govern any ai, as data, models, and policies change, so you can scale it responsibly. let's create ai that begins with trust, with watsonx governance. ibm. let's create. in the u.s. we see millions of cyber threats each year. that rate is increasing as more and more businesses with watsonx governance. move to the cloud. - so, the question is... - cyber attack! as cyber criminals expand their toolkit, we must expand as well. we need to rethink... next level moments, need the next level network. [speaker continues in the background] the network with 24/7 built-in security. chip? at&t business. >>> just moments ago the governor of virginia announcing a $2 billion development braasch in the city of alexandria set to lure the nba's

meanwhile ken langone. we often say one of the founders of home depot. will: there's three.hur blanken that earns the eagles and bernie marcus and ken langone and he endorsed nikki haley. >> you sized up the field and like nikki haley and you want to support her. >> yes, i am going to support her. i think she's just what we need right now and i think her approach is smart, i think she's clarified herself on some issues, which is very important and very importantly, the american people need in leadership and stakes run high. >> you do not like ron desantis. i didn't mean to jump on you there. why not ron desantis? >> no, i did like ron desantis. miz numbers aren't moving, neil. the handwriting is on the wall. now on the other hand nikki haley had a substantial upswing and what's going on in the country today is mayhem, absolute mayhem. rachel: he did say i liked ron december and fogs nation handout and we had that discussion and if he dun run where do all the trump people go and we on the panel saw it and analyzed and thought they'd go to ron desantis and he's really an ameri

while some investors increasing exposure to tech, this riffs off what ken langone just said, our "countdownden stock gems are outperforming tech titans long term and they have been around a long time. joining us with 1.3 billion in assets under management, capital cio tim pagilaro. these names are among the home depot type, right? >> absolutely especially from hearing like a great american kenny langone. investors should focus on pepsi, snap-on tools, and all these companies with stood the test of time and outperformed the s&p 500 over the last 24 years. liz: let's make that point, ken made the point and sounds like you are step for step with him. important to focus on investing rather than trading, even a smart guy like him gotten the pants beat off him, he tries to trade, he doesn't do it anymore, microsoft has gained 674% since 1999. snap on, 805%. costco, 1127%. that's, that's unbelievable. you wouldn't have thought that, but at the moment how do you get people to look at these and by the way some of these also pay dividends? >> unfortunately a lot of investors will find out the hard wa

liz: that was ken langone, the home depot cofounder and billionaire.rview got so much twitter response and heat. some people loved it. some were very unhappy about it but langone says he is just about ready to endorse nikki haley for president. this as haley squares off against former new jersey governor chris christie, florida governor ron desantis and vivek ramaswamy in tonight's gop presidential debate in tuscaloosa, alabama. that is where grady trimble is to talk with a business owner what he wants to hear from the candidates? >> reporter: yeah, liz. larry: we talked to small business owners across the country over the past several years and several have expressed the challenges they faced during that time with rising costs. of course in many cases they have to pass that on to customers and that's no different here at knight sign industries where cal holt is the president. he also owns two restaurants here in town. you've been juggling all sorts of inflationary issues and you were mentioning just the cost of your materials and labor have gone up su

. >> big money donors like ken langone in new york saying why do i need $3,500 a month.his has to change. what is the political calculus? that was a third reel untouchable. >> i think nikki haley has the political nuance to tackle something like entitlement reform and not fall into the trap that democrats often set which is you're taking away sbooimts. she is talking about reforming for the future generation, the some vensy ten years from now which has to be addressed and we will come to head with. listen the reality she now has the support of the cochenette work. this is a major priority. true fiscal conservatives many years. i think that this resonates in places like new hampshire and south carolina where she has to do well. >> the debate. obviously, trump's not going to be on the stage. it's been a central accelerant to nikki haley's rise. undeniable. what do you except on the stage? >> i think the fact that it's a shrinked stage and it's going to give everyone more speaking time, a bit of time to go beyond just talking points and the fighting. based on previous perfo

ken langone, the billionaire, trying support and financial support behind nikki haley, she has the best chance to represent the property in the best way and not donald trump. he made it clear in that discussion we had last night if donald trump's the nominee, he's not keen on the prospects there. i want you to react to this. >> it's between joe biden, it's between donald trump. you've got to make a choice. >> i wouldn't vote for-- maybe i write my wife -- i've got an idea, i'll write my wife elaine's name in. neil: he went as far as to say, nikki haley he's backing and if it's ron desantis he could go with that. likes chris christie, but does not like donald trump, says he's a certain loser, if it came down to he and biden, he would write his wife's name in not donald trump. what did you make of that. >> i think that's the kind of weakness of president trump. he's got people who absolutely love the guy to death no matter what he does they're going to support him and there are people who normally would vote republican who are not going to. i'll point out that four of the five swing state

i don't know what -- if you saw what ken langone, the founder of home depot had to say, but he seed af our entitlement practice. what the hell is a guy like me getting money from the government? he's worth more than $7 billion. why can't we just talk about this? but again, fear-mongering will be on the menu when it comes the trying to broach this. let's elizabeth let's watch governor ron desantis here. >> donald trump wants to blame america you know, he also said that -- he also took disney's side against us when we stood up for the kids. he also a said cuomo in new york did covid better than we did and attacked me for being pro-life are. maybe that's the reason will be we should have a debate on your show, laura. he's had a lot to say about me over the last year, say it to my face. i'm game. elizabeth: what do you think, should trump debate him in. >> i think trump hasn't debated to this point. i think with the lead he has over desantis and haley, he sees it as punching down, so don't expect him to be on the stage debating. perhaps even when the general election comes, because jeff b

[closing bell rings] liz: here we go home depot cofounder and business genus, ken langone will be hereook, the state of the world and yes, the political landscape. we'll see you tomorrow. larry: hello, folks, welcome to "kudlow," i'm larry kudlow.

neil: you know, karl, it was this as a backdrop that i had talking to ken langone, the home depot founderlionaire, who has decided to say all the a more reason for republicans no -- to nominate someone when's not involved in legal messes. he threw that support behind nikki haley. respond to this from ken. >> yes, i am going to support her. i think she's just what we need right now. i think her approach is smart. i think she's codified herself -- [inaudible] which is very important. and more importantly, i think the american people need this kind of leadership. statesman-like, elegant. just think of where we've within the last six, seven or eight years. it's not gooding neil, not good at all -- neil: so by that, you do not like ron desantis. why not ron desantis? >> no, i did like -- no, i did like ron desantis. his numbers aren't moving, neil. neil: yeah. >> the handwriting's on the wall. neil: he added, ken, that in it came down to joe biden and donald trump, he would write in his wife, just to add that there. your thoughts. >> well, look, these are the two most unpopular front-runners f

and ken land -- land gone, a lot of the work was done by ken langone. he spent a lot of money on fixing that a place up. we are so blessed to have all that here in new york. thank you, mara a -- maria, and is have a very merry christmas. good morning, everyone, i'm david asman in for stuart varney. pack your gifts and your patience. a record number of us hitting the road and the skies, of course, for the holidays. it's expected to be the busiest travel weekend of the year with. to the markets now, today we had a read on how much folks are spending and whether slowing of inflation is helping shoppers. well, the dow and the s&p 500 and the nasdaq at first took it in very much of a negative fashion, but at least the s&p and the nasdaq have come back in the green. the dow is still in the negative, down about 60 in premarket activity. the 10-year yield, by the way, is trading down a little wit, 1.5 basis points. the yield is now 3.87. the 2-year yield, if we can put that up, is actually in the green just a fraction, up .1 basis points to 4.35. and bitcoin, l

ken langone, the billionaire co-founder of home depot says he is on board. weeks ago the coke affiliated americans for prosperity action pledged its support. former secretary of state hillary clinton expected to pitch voters on a second biden term. already forcefully defending the president's israel policy. nbc reports clinton hosted a biden fundraiser last month that raised nearly a million dollars. the president maintains trump would be an authoritarian in his second term saying in a fundraiser last week quote trump is not even hiding the ball anymore. then there are the potential third party candidates. this weekend, retiring democratic senator joe manchin noted that biden and trump are 81 and 77 years old and if voters are ready for them to pass the torch to a new generation. someone closer to 76. big reveal here that's manchin's age. bret? >> bret: just 76 is how old manchin is and he is saying 77 is too old? >> a little tongue in cheek, i think, yeah. >> bret: okay. rich, thanks. today, lawyers for two georgia election workers played audio recordings o

[closing bell rings] liz: here we go home depot cofounder and business genus, ken langone will be here to talk about the economic outlook, the state of the world and yes, the political landscape. we'll see you tomorrow. larry: hello, folks, welcome to "kudlow," i'm larry kudlow. all right the israeli idf is punishing hamas murderers now throughout gaza but meanwhile iran terrorist proxies continue to hit u.s. military assets in the middle east. here with the latest our own edward lawrence, live at the white house, thank you, edward, what can you tell us? >> reporter: larry, two big briefings today, state department as well as white house briefing today with jake sullivan, the national security advisor. two big themes came out of that, u.s. criticism, criticism of u.s. administration about not standing for the fully enough behind women as hamas used rape as a form of warfare. about 90 minutes ago the state department spokesperson addressed what the israelis have shown the u.s. about those atrocities committed upon women on october 7th. >> we have been briefed extensively on a number of

like nikki haley would rather have the support of the big money guys from the koch syndicates to ken langone have it. then it's an issue of carrying yourself to the finish line. it's up to the candidate to do that. nikki haley has all the momentum. six weeks is a long time to carry it. what do you think? >> it's a long time to carry that momentum and then we're headed in to the holiday season. so a lot of people will be checked out. look, once we get into iowa, iowa will be very telling about which way this race goes. if donald trump is by and large the winner in iowa, he wins it handily, it will be interesting to see what happens then as candidates drop out or if they continue on. if ron desantis wins iowa or is able to finish closely to trump or if haley finishes closely to trump or desantis in iowa, then i think we're going to have more of a competition going forward in to new hampshire and south carolina. >> neil: julia, a read of the economic ebbs and flows and how they could affect elections. good economic news good be good market news. we have new records for the dow today on the heel

jamie dimon and others, looks like ken langone will back nikki haley. it's not touching donald trump's numbers. >> lawrence: yeah. if you look at it right now and all the candidates had an opportunity, there were several debates for them to make their case. but, as time progresses, it looks like slowly slipping away. the opportunity. >> brian: if we believe the polls. >> lawrence: to have some moment to gravitate these voters, when you look at the movement, when you look at the town halls and diners, it seems like everyone is singing the same old song we want donald trump back. >> steve: we are six weeks away from the iowa caucuses second monday in january. but we are still a year away. there's a lot of run way between now. >> brian: only six weeks for iowa. >> ainsley: i'm surprised they are doing the caucuses. it's actually falling on martin luther king holiday. a school holiday. >> steve: it's all because the democrats changed everything regarding the first primary for the democrats is going to be in south carolina because that was crowning glory for

>> did you hear ken langone this morning, guys? thought, on "squawk box," langone was articulate on succession and the importance of succession, picking the right person and how critical it is. and he's been in lilly forever. and by the way, the stock did not do a lot for a period of time, and then it exploded, but take a listen to langone on lilly, why he thinks it's going to lot higher. >> i think lilly will be the first trillion dollar drug company in history, why? the pipeline. and god bless john, in the dark years, when everything was falling off a cliff, he was firm in his commitment to spending the money on r&d, and protecting the dividend. john put the horses in place, and they got a team out there with david riggs and dan, who runs research, and i guess he's got all strategy now. it's all about the people. i don't know how you address pfizer's problems now, because it's huge. it's spread out. >> you guys know the cfo. her level of discipline i find to be as great as i've ever seen. >> you're talking about at lilly. >> yeah

this is ill-advised logic because when you listen to ken langone, he's not saying home depot is greatbut we need tapestry in there. i just think single stock risk is a joke. it's a joke. >> let's stay in retail and move to costco. those shares are up. quarterly earnings came ahead of the consensus balance. demand for groceries was a part of that. an increase in paid household memberships. the company declaring a special dividend of $15 a share. here's what costco's cfo had to say. he was on "mad money" last night. >> our estimate for the quarter just ended. inflation was in the 0% to 1% range. furniture sets due to lower freight costs year over year and things like domestics, bulky, lower priced items, again, the freight cost is significant. some deflationary items were as much as 20%, 30%, mostly freight related. tvs, the average sale prices have been lower and units have been higher. in talking to buyers, our sku counts are in good shape across all areas, and we had a good sell-through. >> that was the call last night. >> i think this is the great test case. this stock is perfect. w

ken langone here yesterday pointing out fiscal spending still taking place.ready passed, already put in place? >> absolutely. you know, the consumer is still in pretty good shape. i think corporate balance sheets, quite large. >> good news. we should say. >> exactly. talking about good things here. on balance, i think the commit will probably be a little bit stronger next year than consensus. so you know i would not be surprised if we don't have rate cuts next year. >> i mean, i guess the issue from the fed's perspective is, by their own concession they were late in latching on to the inflation story. >> no question. >> and don't want to compound that staying too tight too long when in fact you'restarting to see slowing, and when the policy rate at this point so far is above even current inflation rates loet alone the target. >> i agree late. everyone acknowledges that and i think the fed acknowledges that. the conclusion in my mind is they're likely to stay a little too long rather than exit too quickly. i think if you go back in history, the bar for actuall