goldman sachs by far is the biggest beneficiary. what you have is resiliency, regulators acting pragmatic and return of capital well earned by the banks. >> you reached out to me last week ahead of friday saying, hey, i'd like to come on and talk about what's haepd f-- ahed for the banks, you hadn't factored that in yet and then this comes out friday and does that create concern that if you have a lower rate environment the banks can't do much from a stock standpoint and whether that's now changed because of buyback scenario? >> scott, i haven't seen you or been on your show for quite some time it's holiday season, i thought i'd get one last time before the new year what you mentioned on your show last week is we did increase our estimates on citigroup, jpmorgan and goldman sachs because you have stronger for longer capital markets. this idea that it's a good quarter and it's done, no way. the banks are part of the solution to the pandemic-driven economy. they're helping to fund companies, whether it's underwriting a debt in equity,

goldman sachs wants in on the deal.he beta testing, they already have in the works with their own employee base. they are inviting their employees and consumers in wealth management to try this new service. it provides model portfolios composed of goldman etf's as well as other offerings. when will we get our hands on it? potentially 2021. taylor: let's go right to the reporter. bostick -- cinelli sonali bosak. that they have known wanted to do more of this. they mentioned checking accounts. they have wanted to be a full-scale digital bank here. we are not seeing robinhood, they are offering active beta, access etf's. they are not offering you the individual tesla stock. the hope is that you are bringing a wider set of investors who want to use all the goldman tools and it is still the somewhat more sophisticated investor. caroline: a more sophisticated investor who has a thousand dollars to start with but also will have to pay a fee. sonali: that is correct. it is about 0.15% of an annual fee. robinhood gold, about fiv

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

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

amy sachs, i'm grateful you because you didn't go along with this, so many people have.ting back and were certainly rooting for you. thank you for coming out tonight. francis, the giver representing her. >> thank you. >> thank you. >> tucker: you heard a lot about voter fraud in the last month election. tonight, a specific example. of top republicans in the state of georgia filed a suit that they identified enough examples of a different kind of fraud, low tax irregularities. it might change the outcome of the race. he joins us to explain what he's found. next. ♪ >> tucker: you heard a lot of allegations of high tech fraud in the last month selection. people messing with the software, putting an unauthorized thumb drives, et cetera, but maybe not enough but low tech fraud. traditional fraud. there is evidence there was quite a bit of that. in georgia, the state secretary of state released a affidavit from the chief investigator who looked into election fraud. it rejects the claim that ballots were retrieved from suitcases on election night. the affidavit does contradict

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 it's all being broken up and reconstructed newry. constituted and the ideas are still there the american ide

amy sachs joins us along with her attorney francis beloff happy to have them both.ery much for joining us. so, amy, to you first, we put one of the memes on the screen and in the stories, the details are what matters.ar tell us what the memes said. were they extremist material would you say?wo >> absolutely not. they were literally, you know, a political post that really showcased the absurdity that was going on at the time in the news. >> tucker: yes. so basically you said you were against joe biden. you did not prefer to vote for joe biden. that seems to be the gist of the memes where putting on the screen here. that was too far for the superintendent? >> apparently. yeah.sc you know, the one memes specifically had biden's name in it. that was definitely apparently sensitive and offensive to somebody. >> tucker: as a lawyer, are you allowed to fire someone because they are voting for a candidate you don't like? >> you're not allowed to fire someone and take a political viewpoint in a school. in schools, in the united states, we have a great rite which is the first

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

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

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?

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

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,

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

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

laggards that many of you have talked about are being talked about now a lot on the street goldman sachs for one calls it the laggards trade, the stock's best position they say for up side in the first quarter of 2021, united airlines, haliburton, boeing -- you owe b -- own boeing calls and the shift of money going into stocks like this. >> yeah. and josh owns simon, i own brookfield preferred i think both are just going to continue to soar as far as that first quarter by goldman, scott, i think you're going to be looking at all of those reopen stocks doing exceedingly well after we get through this very difficult basically let's say 30 to 60 days here, scott i'm not saying it's over at that time i'm just saying by then some of the essential workers, some of the folks in health care and nursing homes as well as the people in there, nursing homes in particular, are going to be getting the vaccine here in the united states. so i think once that starts hitting, you're going to see a lot of thosestocks that goldma talks about on that list do extraordinarily well to that crowd strike discussi

sachs: it is fantastic.he most experienced policymaker in economics, probably ever in history, coming in as treasury secretary. she has had every role. she will help coordinate the overall economic response. public procurements, investment, budget, the tax policy. it will be a range of measures. we may have some innovative long-term financing. maybe a green development bank -type structure that has proved to be very useful in other parts of the world. i expect a lot of innovation from our secretary designate, yellen. chat withs good to you, columbia university professor of sustainable development. we are talking about carbon prices in the record high in europe. the globalnow is there's asearch -- lot to get through, the quarter you guys have had. that start with carbon pricing. how big does it get, what is the uptake, what is the activity? >> it is good to be with you today. a big described, this is initiative, really about creating an addition to our energy division. for us significant area going forward. w

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

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

he walked off camera because he had a meeting at goldman sachs.know what, i'm wrong. maybe he's a jerk but he is so smart. maria: maybe he's not a jerk. jon: on the laws, the market is telling us that -- like the cars are selling. the market is going to outlaw the internal combustion engine. dagen: 2% of the cars in this country that are sold every year are electric. just 2%. we only get to the volumes that the market is betting on with tesla with government regulation. jon: well, they're selling a lot more of them and they're making money doing them. i think the market is tellings us that people are going to buy them, people want to buy them. dagen: if they're forced to. maria: we'll know if we see the regulation go that way in january for the senate races, by the way. when we come back, we're spotlighting she-eos, female executives. we're talking to nissan know mos first, to get her take on the electric part of the car market. a new sport is making an olympic debut in 20124. we're going -- 2024, we're going to break it down in the morning buzz.

--us: coleman sachs says annmarie: goldman sachs says we could hit $10,000. you agree?agree 100%. what is going on as we have been so successful in the transformation to digital and online that the underlying physical structure no longer can keep up. as we talk today, we have the highest rate from china to europe and the u.s. we have the massive increase in delivering these goods, so the investment in the mining sector that goes to the root of your question has been there for 10 years. now everyone wants to do online and green transformation and infrastructure. that has not even started yet. we are in the early stages of seeing that. the critical thing to understand about commodities is what we call the yield role has become positive. for the first time in a decade we paid to be long commodities, which adds to the underlying strength of all of the industrial and in particular the available copper used in places like china is very short. annmarie: thank you so much. i want to move on to your 2021 addictions. i have your note called outrageous predictions, and one of the

stuart: goldman sachs thinks 2021 the economy will expand 5.3%?iven the 10 year average at three, that's huge. stuart: that's huge. we have to go. futures are on the screen. we will be back right after this. ♪ ♪ ♪ ♪ birds flyin' high, you know how i feel. ♪ ♪ breeze drifting on by you know how i feel. ♪ ♪ it's a new dawn... if you've been taking copd sitting down, it's time to make a stand. start a new day with trelegy. no once-daily copd medicine has the power to treat copd in as many ways as trelegy. with three medicines in one inhaler, trelegy helps people breathe easier and improves lung function. it also helps prevent future flare-ups. trelegy won't replace a rescue inhaler for sudden breathing problems. tell your doctor if you have a heart condition or high blood pressure before taking it. do not take trelegy more than prescribed. trelegy may increase your risk of thrush, pneumonia, and osteoporosis. call your doctor if worsened breathing, chest pain, mouth or tongue swelling, problems urinating, vision changes, or eye pain occur. take a sta

air bnb is now bigger than target and goldman sachs we could talk about money being left on the tablege first day pop, but the question we need to answer tonight is does that make sense? guy adame? >> they are expecting double digit revenue. start doing the math it will take five years to deserve this valuation maybe that's the way the world is maybe it is the greater fools theory thing but when you look at this and door dash yesterday and say what am i missing, it doesn't make any sense to me. it takes a long time to grow in these valuations, but the employment situation in this country is not getting better. as a matter of fact, it seems to be getting worse and we could talk about things getting back to normal but in my world it's ridiculously expensive, melissa. >> karen >> one thing i find interesting that i didn't notice until this afternoon, the entity of the company was not selling stock. it looked employees, hundreds of names of people selling. i don't know if the company left any money on the table even if they did, they were selling 31 million out of 260 or whatever the numb

joining us is the head of commodities research at goldman sachs.never ever really talk or start with bitcoin, but i had to get your take. when you look at the commodity world, how do you think about bitcoin? chart of overlay a bitcoin on the price chart for copper, they look very similar. what do they have in common? they are both a risk on growth proxies and i would argue that bitcoin is the retail inflation hedge. if you look at gold, people like to say that it stole demand from gold, but there is no evidence of that. gold is traded lockstep, the way it should, in this big rotation towards, you know, defensive assets and cyclical rotation. you know, i don't argue. i don't think there's any gold -- gold into bitcoin can coexist and in terms of thinking about the run-up this year and bitcoin, remember what happened to iron ore and copper? they behave similarly. interesting. a risk on asset. does it have any correlation to the real yield? it used to, now it just has a correlation to copper, which people are using for a proxy as the risk on to a glob

goldman sachs is a month one of the most positive on what the vaccine does for the world economy.re we finally going to see inflation when 50% of the population are vaccinated? >> good morning, francine. yes, we are very positive on a vaccine lead recovery in the global economy. i think that is despite the rally that we already had peter it has been in november to remember for global markets. lots of economies in the world are still substantially below the levels they were pre-pandemic with the exception of china. inexpect a strong bounceback the global recovery. along with that, you will see some price pressure come in, especially around the turn of the first quarter and second quarter because you had some point andects at that commodity price increases. on the whole, volatility and upward pressure, you don't really expect to see the kind of output gap tightness driven inflation that would worry central banks in a big way to come through in 2021 created 2021 might be too early for that. one wrinkle to that argument is we still have to see what happens in the senate were enough el

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

that was goldman sachs global head of commodities.ppeared ready to boost bonuses by up to 20% for its trading division, we have the latest. bonuses have become tricky right now because you have record trading but at the same time, the outlook is so uncertain for banks. >> yeah it is truly a sensitive issue for the industry, but it is also one where banks are looking out to see how they are handling things and people close to the matter have told bloomberg that goldman sachs is planning to boost bonuses and to boost them by about what he percent. these heftier paychecks follow a major rating windfall that most banks have experienced in the last three quarters. jump inted in a 39% goldman trading revenue and this has goldman trading division reclaiming its status. alsoat the bank are telling 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 tha

jonathan: the roaring 20's for goldman sachs. coming up, julie norman, university college london professor. the first word news, i ritika gupta. the u.k. has become the first western country to approve a coronavirus vaccine. britt is regulators have given emergency authorization to the shot developed by pfizer and biontech. the two company's have said there vaccine is 95% effective in preventing the illness. it will be available in the u.k. starting next week. president-elect joe biden won't quickly end that phase i trade with china. biden told the new york times he first wants to conduct a review of u.s. policy with beijing. that will include consulting with key allies. biden also said he wouldn't make any immediate moves on tariffs imposed by president trump. in hong kong, activist joshua wong was sentenced to more than a year in jail for leading a protest outside a police headquarters asked year. it was one of the most high-profile cases in the government crackdown on the pro-democracy movement. wong'sher members of now disban

goldman sachs on the other hand drew a firmer line.you think you might actually make this an official requirement, and what would the impetus to do that? >> i think the one thing everybody we spoke to about this agreed on was there is a lack of disclosure, and that is really the first step in addressing the issue, making sure there is a consistent disclosure framework. a number of states have enacted legislation to require certain numbers of either female or diverse directors, but there has not been a consistent national framework, so that is one of the things that this rule proposal highlights. it allows investors and company stakeholders the ability to see what companies have in terms of their current level of diversity and what their goals are for the future. we think by taking the first step in making these disclosure standards along with a compliance framework, that will give companies the ability to articulate their position on the issue. emily: if this is a first step, do you see nasdaq taking more steps? >> i think we have been

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

partly because these companies own their own massive building is a goldman sachs or anyone like thatoving in full from new york city. maybe that will change for them in their children cities or vice versa for a bark close or b and p pary bar, et cetera will reduce their footprint in new york because they can chop the floors they take and that will save them money. that doesn't apply to a jp morgan or a goldman sachs because they own a massive building in the city they may as well fill night just noteworthy to watch where they are opening new offices a trend we will continue to follow here. >>> bill gross calling for a truce in his legal battle with his neighbor robert frank has more. >> bill gross hoping to end his legal battle with his neighbor over dueling restraining orders. this coming before gross is scheduled the testify either tomorrow or later this week. in an open letter released a couple hours ago gross said all the money and public attention spent on the harassment case against his neighbor should be given to covid-related charities. gross writes in the midst of this globa

sachs global head of commodities. a brief look at what is happening with global equity markets.ill in limbo with regards to the u.s. relief package. japanese markets going into their lunch break. , the fastestis rate in 10 years. the nikkei down as well. the yen is recovering a little bit, i should say the dollar is recovering. moment ares at the essentially telling us that we do have exporters struggling. we are going to discuss what is in store for airlines and the aviation industry, looking into 2021. this is bloomberg. ♪ >> the government could shut down temporary funding is not agreed to. includesd a draft funding for businesses, but omits funding for states and localities. moderna's covid-19 vaccine has one initial backing from fda advisors, setting the stage for a second shot to be cleared in the u.s. in as many weeks. the panel voted 20-0 with one abstention. the full fda could give its final ok in the coming hours. based on thet is same research as pfizer and biontech, which was cleared last week. a cluster of covid cases in sydney is threatening to disrupt celebrations

. >>> 2020 has seen the rise the retail investors and now, goldman sachs, the firm known for cateringthe rich, is preparing to offer wealth management for the masses. cnbc.com's hu sun has the details. mike santoli also here to discuss this one what have you heard about what this initiative is, what goldman sachs's goal is. >> we have our hand on an internal memo that invited goldman sachs employees to take part in this they are charging 15 basis points, relatively cheap, and you be start with as low as $1,000 they stay away there the word roboadviser. they think goldman sachs fools like it uncuts the human minds, the human intelligence that goes into creating these portfolios but it essentially is a robo-advised product. >> mike, look, i get this is another step for goldman but it is not exactly ground breaking in terms of goldman has had its eye on the so-called every man and ever woman for a while now. whether it was the apple card or personal loans or savings accounts this is just another move in that vision it seems to me >> for sure. certainly on the lending side as opposed to t

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

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

what happens to macy's, what about sachs and neiman markus? on the luxury end a questionable future for the big players and then macy's, which is slightly below nordstrom, trying to move itself either positioned a little bit more up scale or going to cut back on a lot of retail locations and nordstrom just has to play their hand very carefully, not knowing what other participants in the industry will do there were about six years over the last ten where the company earned more than $3 a share. i think that's unlikely for a few years, if they can get into the 2s, 220 to 250 a share, put a multiple on that, it can trade over $40, into the mid 40s but there are a lot of ifs in that whole statement and i'm just not prepared to commit right now they'd have to start to show more cash flow, begin to pay the dividend back. you know, i just don't know. i think it's -- it's a good company and i'd say well positioned in an industry that's going through major disruption and maybe they can be a winner, but not one we would put money into right now >> i thi

we should note that the headline that crossed the bottom of the screen, goldman sachs announcing they will resume buybacks, didn't specify the' nouns, but goldman sachs to resume share buybacks next year that stock moving higher by 5% and wells fargo falls into the category of the 33 banks that were approved to resume buybacks remember, that it had been sort of put in the penalty box, but it does fall into this category where profitability has been existent for four quarters so it's able to do this brian kelly in, terms of the banks, what do you make of this? >> yeah. i think, i mean, obviously it surprised the market, but i think in the big picture it's probably not that surprising because the pandemic threw the biggest realtime stress test at the bank, bigger than any government regulator could have imagined, and they survived, so i think in that sense it's very positive for the u.s. financial system obviously very positive for banks, but if you're at home now and you're saying, okay, what's next for the banks, that's exactly what you just mentioned. it's the roll-off of the reserve

bet so i think selling a put spread makes a lot of sense obviously, i can understand where goldman sachs' rating on the stock is coming from, but it's interesting, because tony actually mentioned this. this is a stock that people have basically counted out, i don't know how many times over the last several of years. there was just a sense that the bricks and mortar retail, and also, electronics retailers in particular, as they were basically the only surviving one among them were basically as good as dead, and yet they continued to life. what we've seen is that some retailers have been able to transition to basically the more modern economy they seem to be making their way through it so i'm not going to count them out just yet they're trading at a slight discount to the market, a little bit higher than their historical premiums but i think the trade structure makes sense if you like it here. >> carter, what do you make of that chart >> tony said it, he said the chart is not good. so he qualified it by saying -- and perhaps this is a "so bad it's good moment," which means it is makinging

thates have also told us goldman sachs' unit boosted their stake in you in less than 12 months.vestors this market? what is the opportunity said? set -- yourtunity mentioned a couple of things, but i would say first we are thrilled and humbled to be partnering with peter selling goldman sachs. mentioned overgrowth, i would say our growth is fueled by the opportunities in front of us. , s had mentioned earlier investing $3 million. it was $2 million, but we bought freddie mac bonds that amounted to $3 billion. that was an outsized risk adjustment return, the portion of that was realizing in june. the only thing i am pointing out is that our growth has been a result of -- >> i have to jump in, thank you for joining us. we hope to have you back again soon. tom: thank you so much. greatly appreciated. dow futures of 93. stay with us. am: this morning, send me suitable bill, or else the next administration will have to deliver -- and maybe that administration will be me. stun mnuchin, mcconnell and surreally with the gift for pelosi. he will not sign the $900 million deal. trillion t

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 ♪ and keep your eyes wide this holiday at t-mobile, get an iphone 12 with 5g, on us, on every plan! and if you're 55 and up, switch to our essentials 55 plan and save 50% on your bill vs. the other guys. that's right, iphone 12 on us! holiday on with t-mobile. to give you the protein you need with less of the sugar you don't. [grunting noise] i'll take that. woohoo! 30 grams of protein and 1 gram of sugar. ensure max protein. with nutrients to support immune health. >>> a thousand new jobs are coming to walmart, and that's what's topping cnbc's "on the money. the world's largest retailer opening a distribution center in south carolina part of a $220 million investment in that state the warehouse means more business for the port of charleston volume there expected to increase 5%. a positive for the region's ec

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