sachs as a new a.i.extremely important i would say under the gendler era at the fcc there has not been clear regulation, that has been the problem how can you operate in industry when you don't know the rules you can disagree with the rules but if you know the rules you know how to operate and when you don't know the rules when ud banked and you find that you broke the rules because there's an enforcement action against you versus knowing what the rules are that's what leads in industry to flee a country that's what we seen in the united states and i think atkins represents a complete reversal in a way that could not be more bullish for this country. maria: trumps defense of the dollar is a window into how he thinks the u.s. should exercise the economic power and he thinks tariffs are more flexible harmful way of achieving goals. talk to us about the dollar and how you see this impacted as a result of the focus on crypto from the incoming admini administration. >> bitcoin encryptor were going to succeed

so, who exactly is david sachs, this new ai crypto's are? i heard he is a part of the ai mafia, venture capitalist with softer businesses there. is he intimately tied to crypto? >> the important thing to note is that he has been supportive of crypto for a while now, as well as in the ai space. we had reported previously that there would be a crypto's are. it was not clear at the time if that would be combined with this ai's are role. we now know that it is. again, that points to how far, you know, these emerging technologies, how big a role they will play with the trump administration. this is really capping what has been a turnaround because of his relationship with crypto. right? originally he was skeptical of it. on the campaign trail he said he would fire gensler. now we have adkins, supportive of it. sachs, like him, a supporter financially of trump, supporter of crypto, really helping to bring in not just the crypto industry to donate, but also younger men in general. abigail: absolutely -- scarlet: absolutely, that is part of what we

sachs is the former ceo of palo alto based paypal.his summer, sachs held a fundraiser for the president elect at his san francisco home. sachs has investments in major companies including meta, uber, spacex and airbnb. >> the a's are a major step closer to seeing the team's new home field in las vegas become a reality. the las vegas stadium authority has approved a 30 year lease and other paperwork that clears the way for construction. the stadium will be located on the strip and is expected to cost $1.75 billion to build, it was revealed earlier this week. the cost has risen by about $250 million because of inflation, and added player amenities. >> all right don't panic but we're less than three weeks away. let's panic. christmas is getting close to that time and postal workers are certainly going the extra mile to ensure that your gifts arrive in time for the big day. >> abc seven news reporter tara campbell went to see how all that hard work gets done. >> one package, one box, one letter at a time. the united states postal service

so team lifestyle in the criminal judges trial against the re, a rubbing from goldman sachs which was decided in 2023. i don't see how that's just too many or those dusty monies could effect the system in america because that's the many. so you would in open court hearings, an open quote here is accessed by public. so what is accessible by public and u. s? how would the domain will be detrimental to the u. s. criminal system, the, the stumps, me that is the shouldn't, by the americans a legislation or the legislative people know as far as we can see, make sure it has not released the education. all the information requested by and that you, that it was in my opinion be a problem. it make it look like.

david sachs as white house ai and crypto czar. trump posting that the venture capitalist will guide policy in artificial intelligence and cryptocurrency, two areas critical to the future of american competitiveness. katie ruth helps cover all things venture. we have another venture capitalist other than the vice president-elect is well-being one. david sachs has been close to trump of late. can you tell us how we got here? >> he was a big fundraiser for the presidential campaign and also quite close to jd vance, the vice president-elect. david sachs was hosting fundraisers and getting other silicon valley supporters to come on board and support trump. it is not surprising that there is some sort of partnership here. caroline: and indeed, not a full at the seat role in politics. that means he has to step away from craft ventures. we know he has focus there because he has a key man risk. his venture-capital history has been extraordinary. he has been in the angel rounds of some of the most successful exits we have coming out of -- w

talk to additional evidence from goldman sachs i'm. it's former banker team lives there in u. s. sports, us just a department and initiate civil for project actions in 2016, a lodging back over 4500000000 us dollar was mis appropriate from the funds. now if we look at the case, the one mtv is candle is one of the biggest financial scandals in history involving billions of dollars stolen from a malaysian state fund. met for economy development, the fund set up in to 1009 by not jeep her eyes. like himself, was used for lavish lifestyle, so as a luxury items of property and even funding bill. now not now, do you project fees? most of our charges including a use of power criminal breach of trust and also money laundry. when she was sentenced to 12 years in prison and find $47000000.00 us dollars. if i were complicit in the defrauding of one m d b, it would have been totally insane for me to ask for this evidence from the courts. because that would implicate me, i would be insane to have done it. a nigel claims, the subpoena of goldman sachs and he has former signed for was a deliber

sachs is the former ceo of palo alto based paypal.hs held a fundraiser for the president elect at his san francisco home. sachs has investments in major companies including meta, uber, spacex and airbnb. >> the a's are a major step closer to seeing the team's new home field in las vegas become a reality. the las vegas stadium authority has approved a 30 year lease and other paperwork that clears the way for construction. the stadium will be located on the strip and is expected to cost $1.75 billion to build, it was revealed earlier this week. the cost has risen by about $250 million because of inflation, and added player amenities. >> all right don't panic but we're less than three weeks away. let's panic. christmas is getting close to that time and postal workers are certainly going the extra mile to ensure that your gifts arrive in time for the big day. >> abc seven news reporter tara campbell went to see how all that hard work gets done. >> one package, one box, one letter at a time. the united states postal service is ready to del

sonali: now, none other than richard ramsden over at goldman sachs. big conference. about 1300 people had registered, almost 1400 people. what was the takeaway? i was trying to read the room the whole time i was there on just how much optimism there was. his next year going to be kind of good or really good or very good? how did you feel at the end? >> we findling this conference for a long time. this was the 35th that we've done, and this was definitely toward the more optimistic. a few things that stood out to me, the first is the banks are pretty upbeat about the economic outlook heading into next year. these banks obviously have got great data around what is happening to consumers and corporate's, and they say consumer spending is still healthy, corporate confidence is improving. everyone that spoke said we are inspecting a pretty sharp recovery both in m&a activity as well as ecm activity. and then lastly from an operational trend standpoint, these banks have seen interest rates come down, have been able to bring down the positive pricing and at the same time, t

do i buy goldman sachs or buy the field? >> you buy goldman sachs. i will be talking about that at our wednesday meeting. we have a club meeting. i think it is worth focusing on just the exact question that you asked and i thank you for it and thank you for the kind kudos about yesterday. let's go to tyler in florida. tyler? >> caller: cramer, man, loved you on "seinfeld." >> that was hard for me. i had so much hair then. it was such a great treat. >> caller: hue do you feel about alibaba in 2025? >> baba is the only chinese stock i am recommending. i'm working on a piece, you'll hear it later on, about the idea that maybe president trump is going to do -- president-elect trump is going to do something more creative than president biden did when it comes to china. let's go to mike in my home state of new jersey. >> caller: big hometown boo-yah. i'm recently retired. >> there you go. >> caller: listen to your advice daily taking chips off the table. i'm talking about at&t for growth and income. >> i've got to tell you i've been impressed. i was not im

then goldman sachs' cfo dennis coalman also spoke today.re overt guidance except to say that m&a activity into 2025 is accelerating and normalizing back to ten-year averages. he added there is no reason we can't go above those averages if we sustain the momentum. we will hear from the wells fargo and bank of america ceos in day two of those events. >> leslie, thank you. these stocks moved a lot and moved a lot since the election for all the reasons that everybody already knows. >> fascinating intraday chart of jpmorgan. when the comments came out from the cfo stock popped 3 bucks. it came right back down that $3 because of exactly that idea. exactly, they are up where they're already trading because we expect deal activity and markets, you know, revenues to be strong. it doesn't mean the stories are obsolete, it just means we sort of got there already. >> angelica, what about moderna? >> those shares taking a big hit today after bank of america analysts saying that there are, quote, too many layers of uncertainty here. that's with the stock

an investigation is ongoing in malaysia against goldman sachs malaysia is full list investment banking chart. the chief of this over the one with laser development bar hod scandal, the nation's phone from minnesota is involved for the claims the us government has intervene in the us government to intervened in the proceedings after the goldman sachs group requested an extension to comply with the subpoena on 9th of february 2021. the us government intervened in the proceedings by filing multiple motions, including a motion to intervene and stay the proceedings a motion to seal and their respective supporting memoranda, former malaysian prime minister and as the price of already served during a 6 year prison term for corruption charge a link to the one mtv scandal leaned on monday that she is a victim of us back. conspiracy. according to nadia and just legal team, this conspiracy was forward because treat it in collaboration with malicious political opposition to ask him from power and implicate him. and the scandal not, you argue that the u. s. government lost his attempts to provide e

so what are some of the things that david sachs and donald trump are going to be doing in this area?es with crypto is nobody knows how much to regulate it should there be any regulation at all and i think from a -- stand point of having some clarity reducing uncertainty, that will certainly make it much more likely that you have more crypto bowls that bitcoin continues to climb higher. but then further more you look at the rest of the trump appointees and nominees whether it is scott bessent in the treasury and howard and fcc they're trying to make this a legitimate currency and all if at some point you see a company like amazon allowing people to buy goods with bitcoin, or with crypto overall the coin is going to go to the moon. it will go up substantially. so i think you'll see more use cases. i think they'll have some clarity on regulation and both of those are going to be great for crypto. >> of course donald trump is first president to come along who embraced crypto like this why do most politicians think crypto is such a threat to them? >> well i think probably the biggest issu

the us government intervened in the proceedings after the goldman sachs group requested an extension to comply with the subpoena on 9th of february 2021. the us government intervened in the proceedings by filing multiple motions, including a motion to intervene and stay the proceedings a motion to seal and their respective supporting memoranda, former malaysian prime minister and as the price of full already served during a 6 year prison term for corruption charges linked to the one mtv scandal leaned on monday. that is a victim off of us by conspiracy. according to nadia and just legal team, this conspiracy was for it because treat it in collaboration with malicious political opposition to ask him from power and implicate him. and the scandal not, you argue that the u. s. government locks his attempts to provide evidence. that's what this cruise the allegations me and the several for per check please says against him. i also believe this forfeiture action was politically motivated and orchestrated as part of a collaboration between the united states democratic party and the then opp

sachs is the former ceo of palo alto based paypal. this summer, sachs held a fundraiser for the president elect at his san francisco home. sachs has investments in major companies like meta, uber, spacex and airbnb. cryptocurrency, bitcoin surged over $100,000 for the first time this week. the record high was sparked by president elect donald trump announcing a pro crypto pick for the sec chair. paul atkins is the nominee for the securities and exchange commission, which regulates cryptocurrency. bitcoin has increased a lot over the year, with most of its increases happening in the post election season. >> in today's gma first look, ariana grande is responding to criticism about her appearance during press. her press tour for wicked. here's abc news reporter eva pilgrim. dear linda, you are just too good. >> how do you stand it? i don't think i could. >> in this morning's gma first look, wicked star ariana grande opening up about scrutiny over her appearance. >> i've been kind of doing this in front of the public and kind of been, you

. >> goldman sachs they won't let you get away with anything. >> goldman sachs i would like to work at let's take a break and we'll be right back. >>> with the market more or less treading water, the big banks showing some real strength this morning. citigroup, jpm up over 1%. wells fargo. kind of a nice move. the deregulatory tone would be adding to some investor enthusiasm on what we should point out has been an incredible year for so many of these names, led by goldman sachs' 56% share increase year-to-date. >> what's the price -- 17. around 28, 29, 17. how can you not buy that then say listen -- >> all right. >> terrible. >> think about stop trading because that's coming up next, jim. >> i'm all over it the global injectable drug market, including high demand glp-1 weight loss drugs, is projected to hit $800 billion by 2025. lexaria bioscience is breaking down barriers with a patented technology that enhances bloodstream absorption. and the best part? it's an oral delivery platform. as an innovator in drug delivery, lexaria bioscience has partnered with a global pharmaceutical comp

>> okay, i'm not as pessimistic as goldman sachs. could see tariffs increasing price inflation by between half a percentage point and three-quarters of a percentage point. still that implies that prices will be higher than otherwise, because of tariffs. you know, one thing i want to add is the markets don't appear to be especially worried about tariffs. my goodness. we have the 10-year treasury yield that has actually been declining at last look and was down to about 4.25%. that happens to mean mortgage yields will be a little bit lower and moreover, the implied probability of a fed rate cut on december 18 has risen from 55% up to 66%, so what the markets are telling me is that the imposition of tariffs will not be a disaster for the united states economy and let's not forget why trump is increasing these tariffs. that is to help bring about a halt to illegal immigration as well as stop this inflow of fentanyl. maria: i agree. these worries over tariffs are probably a lot of nothing given that president trump talked about using lever

incoming crypto is david sachs and crypto friendly sec pick paul atkins, bitcoin just hit $100,000, heren are we sure that crypto friendly is bullish for crypto prices? bitcoin has been running a four years with uncertainty and open ended predictions. for going to get more clarity and guidelines are investors going to stay as excited as they have been about crypto? >> they definitely are, crypto and a.i. are the top two priorities in the trump administration partly because we want to be number one in the world and the two technologies. a lot of cash, billions have gone into the uae and the middle east is the rules are clear and a ton of talent has moved over the critically unclear regulation, that means people will move their talent back to the u.s. i more important, crypto will play a big part and what were going to do next. the second is the crypto active be proposed this is a certain percentage of the u.s. reserve will be held in bitcoin and that's what's driving the price up anything else. then we seen quietly in the background, the institutional investors that have actually made lar

that is something that will not make what david sachs a second amendment for compute possible.let's go with looking how these technologies are used in 'tnot regulating the tools themselves. that is a path we don't want to go down whatsoever. >> trey: i think you are going to be a very busy person overto th be next four years. i think technology will move lightning pace. i am glad i have y your female address and cell phone number. i hope you have a happy new year an d a merry christmas and we will see you in 2025. >> merry christmas, trey. up next, one where sean will not throw out donald trump'st conviction. doesn'tht matterro and former prosecutor andrew zukowski after the break. business just to keep the lights on. you're here to sell more today than yesterday. you're here to win. lucky for you, shopify built the best converting checkout on the planet. like the just one-tapping, ridiculously fast-acting, sky-high sales stacking champion of checkouts. that's the good stuff right there. so if your business is in it to win it, win with shopify. the next mega millions drawing is

let's get downtown to the goldman sachs u.s. financial services conference here in new york. over 100 companies from the financial services sector gathering. sonali is standing by with one of them. sonali? sonali: scarlet, thank you so very much. i'm standing by with the co-c.e.o. of blue owl, focuses heavily on private markets. of course, you're a publicly traded firm, and i've seen significant appreciation this year in the markets, when you think about the past forward, is it really going to be tried and true, vanilla, private credit that's driving the growth from blue owl, or is it going to be something else given that you've made so many acquisitions in spaces outside of traditional direct lending? >> so for blue owl, always a treat to be here with you, for blue owl, three words i would focus on. there is scaling, there is innovation, and there's diversification. those three together i think are the words i keep in mind when i think about the future of blue owl. we're one of the market leaders. we had outstanding results for our investors, our l.p.'s, which ultimately is

i believe goldman sachs is the biggest laggard on the dow jones industrials. does it surprise you that they're getting hammered like this? >> well, i mean, it doesn't surprise me as a one-day effect. i don't think that particularly those large institutions, that this is in any way a dramatic event for them. i expect those stocks will recover somewhat over the short period. but it is not, you know, higher interest rates are in this circumstance given the effect on bank balance sheets is, you know, it can be a double-edged sword, and it will certainly have an effect. and this is a change from what markets have been expecting about the path of interest rate policy that will affect constitutions. liz: randy, thank you very much for your perspective on this pretty dramatic fed meeting day of 2024. >>> all right, folks, we do need to show you the dow industrials right now down 9544 points, but we just -- 954 points, but we just a few seconds ago saw the dow falling 1,141 points. it has not fallen 1,000 points since back on october 5th. particular sectors, we should

>> goldman sachs we talked about the banks activity picking up.ave a piece of that. >> uber. the stock is where it bounces, uber. >> thank you for watching fast money i will see you in the now year. i am off next week. mad money with jim cramer is up next. >>> my mission is simple. to make you money. i am here to level the playing field for all investors. there is always a bull market somewhere. i promise to help you find it. mad money starts now. >>> hey, i'm cramer. welcome to mad money. just trying to make money. my job is just to teach. i am going to do a lot of teaching tonight. so call me or tweet me. when they come along you need to know

equity strategist from goldman sachs and the views of how equities are underperforming in the u.s.ajectory of inflation. the waters are muddied. and you put in play the jobless claims. here is the work being done. going back to 2020 when inflation was not a problem. that is the light blue components. and then the inflation surge until june of 2023. services have remained sticky. bloomberg economics say if you take out the components of bpi and cpi and feed them into the pce gauge. then things look a little more benign. and for bloomberg economics the cut for next week is locked in but the questions arise as we push into 2025. it is the trajectory in terms of inflation and the role of services. sticking with central banks, let's look at the ecb. they cut 25 basis points as expected. officials telling bloomberg though that they expect to cut in january as well, 25 basis points but also in march. three perth that -- 3% right now. this is traders, not the officials but traders expect 125 basis points of additional cuts. traders expect to see the rate below 2% by june of next year. infl

>> it's also vivek ramaswamy david sachs in the group of people is brought in into his circle who areonaires or close to it and very smart. elon musk is sort of the thomas edison of power generation there with einstein, a genius. he bring in this talent talent has financed the president-elect is the president-elect and will be president. i think it will go fine but if any of these people, musk or vivek ramaswamy or, no matter who but if any of them think they are running the show, they are going to find out that's not the case. we saw this already. lots of people but they were going to manage donald trump in his first term, they didn't make it to the end and i don't expect anyone to attempt to push around donald trump and i don't think anyone is dumb enough to do t that. >> in this case they can go back to leading when it comes to spacex and david sachs will be remarkably successful. i think some of the headlines the critics are jumping all over this relationship in newsweek elon musk, follows in his bookmarks. finance president musk. these in the past we get under 47 skin, my sense i

kate mcshane of goldman sachs.nagement on inflation risk in 2025. we begin with stocks on pause after a blistering rally for equities in 2024. the s&p 500 up more than 26% year to date. anna rothbun seeing upside ahead next year, writing "assets will go where there is higher relative value. from this perspective we are constructive on u.s. equities and even tack despite the how valuations." anna joins us now. thank you so much for your time. with all of these uncertainties into 2025 what are you most keenly looking for? anna: morning. the santa rally may not be here but maybe santa is telling us we had a lot of returns in the last two years. from that perspective it is difficult to imagine a 2025 where you will continue to see this type of return. going into 2025 we are still constructive on tack because we see that it is not just a want to have in terms of ai and other developments, it is a need to have, especially for corporations developing ai. if they are not on top of that they will lose out. from that perspec

mr sachs is 52 years old and a co—founder of french capital firm called crafter ventures and is an earlyfirm that was bought by ebay back in 2002. he was also an early evangelist of crypto currencies, as early as 2017, he was saying that it feels like we are witnessing the birth of a new kind of web. bitcoin broke $100,000 for the first time yesterday and is currently trading below. in other news.... stop the press! the sale of the world's oldest sunday newspaper looks to have gone through. the boards of the guardian media group and its owner the scott trust have approved the sale of the observer to tortoise media. the weekly is changing hands despite repeated strikes by staff. in the uk, thames water has received multiple bids for its struggling business and has warned that it could run out of cash by next year. the scottish utility firm castle water, is understood to have made an offer for thames ahead of a deadline for potential investors this week. thames is the uk's biggest water company and has currently has debts of almost £18 billion. don't forget you can get plenty more on the b

the crowd on the floor watching him, included in that crowd ceo of citigroup, the boss of goldman sachs, not your average crowd at the new york stock exchange, i must say, but certainly an exciting day. you can hear the cheers from the floor, perhaps not so surprisingly given the run up we have seen in financial markets since donald trump was elected on november five. markets since donald trump was elected on novemberfive. that said, it does not look like president electron can enjoy a strong opening. they are printing and reflecting on the time person of the year cover, posing for photos to mark the occasion. they are revelling in one of the most visible symbols of success, which is bringing the open bell, a long tradition here in the united states. you can see with his wife, posing for a couple of selfies, as is the way these days. and there you can see one of trump's cabinet, he was heavily involved in the transition process and recruiting people. there you have it, the crowd waiting for the first trader to take place on the day, that is usually a bit of a delay after what has been t

why is this well, goldman sachs economists say there's two big reasons. one, because there are legal limits and two, because there are logistical limits to executive action and those limits will likely slow down the pace of deportations. now, this will come as a relief to business owners who warn that deporting millions of people could starve them of workers. i mean undocumented people are a key part of this economy, right? they are cooking meals and restaurants, building homes and they're picking crops on farms. the usda found that a plurality of crop farm workers in america, 41%, are unauthorized. and experts have warned that if you deport all of these crop workers, they're going to send grocery prices even higher. john, we should note, just because investors are saying that the immigration crackdown isn't going to live up to the hype doesn't mean they're right. but i do think this helps to explain why investors are basically shrugging off all these inflation warnings about the trump agenda they don't believe that mass deportations are going to happen.

yellen said sweeping terrace would lead to higher inflation, but the boss of banking giant goldman sachsthe impact of darrius will depend on how they are implemented and that mr john's administration could be good for business. the john's administration could be good for business.— john's administration could be good for business. the shift in administration, _ good for business. the shift in administration, which - good for business. the shift in administration, which i - good for business. the shift in administration, which i think. administration, which i think appears to be an administration thatis appears to be an administration that is going to run a mauga thing kind of playbook is one thatis thing kind of playbook is one that is quite good for our business and our business activity. whether or not it plays out that way, the markets say it will play out that way. in aviation use boeing says it delivered 13 commercialjets in november. less than a quarter of what it handed over to customers one year earlier. the playmaker has been hit by a safety crisis and a strike would shut down m

looking forward to meeting with kash patel and david sachs this week and have been talk with all of them along the way. they are all on a path for confirmation and that's an exciting thing and important principle for us to maintain come the the president getso choose his team and we're excited for that to be resolved in the early part of next year. near the end of this year i want to say, stopped as it would affect to the leadership team, these friends have done a great job helping us to leave the conference over the last year and last two years, helping meet the last year plus as speaker and leader scalise and with amber and elise stefanik was her conference chair, soon be serving the trump administration in new capacity, vice chairman blake moore has stepped in to fill the void, next week in a denigrate up and want to thank him for that. despite the challenges we have we're able to secure key wins in the congress. you heard blake and steve recount some of that beginning with h.r. one, energy policy we advanced and h.r. two on the border. we held this disastrous administration accountab

opening bell, the crowd was made up of some of the biggest names on wall street, the ceo of goldman sachs supporters, megarich donors during the campaign. they were all there in the crowd and said of the usual market watchers you also see. he spent time i understand talking to some of the traders on the floor, this is a place used to seeing celebrities, dignitaries, politicians around the world, but they often do not spend that much time on the floor. i understand donald trump took the time to speak to many people there and the reception was very warm in part. because of that trump bump. find was very warm in part. because of that trump bump.— of that trump bump. and joe biden defending _ of that trump bump. and joe biden defending his - of that trump bump. and joe | biden defending his economic record, saying he has been left with a really healthy economy, and everybody is looking at the state of the economy, what it will be under donald trump and whether he can fulfil the promises he made on the campaign trail, that he reiterated again today. he inherits a _ reiterated again today. he: i

goldman sachs is upgrading norwegian cruise line to a buy rating. another upgrade.n on american airlines moving to out perform. it ites a positive industry back drop and announcement of the credit card deal with citigroup. piper sandler downgrades pinterest and faces a competitive advertising landscape. shares off 2% in the pre-market trade. >>> ahead, the one word that every investor needs to know today and the stock pick every investor needs to know as well. >>> plus, toal ll brothers faci pressure and our next guest says now may be the time to get into the stock. we'll be right back. have you ever considered getting a walk-in tub? well, look no further. proudly made in tennessee, a safe step walk-in tub is the best in it's class. the ultra-low easy step helps keep you safe from having to climb over those high walled tubs, allowing you to age gracefully in the home you love. and now, back by popular demand, for a limited time, when you purchase your brand-new safe step walk-in tub, you'll receive a free shower package! yes! a free shower package, and if you call t

elon musk, david sachs, marc andreessen, just to name a few. our guest joins us to discuss the new intersection of tech and politics in 2025. some names that we already know much about with more lining up for a dinner invitation. >> i mean everyone seems to be making their way to mar-a-lago. there is a very different feel from 2016. at that point trump held that sort of famous meeting and trump tower where all of the tech executives ended up coming, but it felt like they were almost forced to be there, dealing with their employees back at headquarters in silicon valley complaining and protesting at all this stuff. this time it feels different, going one by one and having dinner at mar-a-lago, being very friendly. i think that the awkward situation here is the elon musk of it all. all of these people are competitors in some way or another to him and his companies and often when they show up to dinner, like jeff bezos from amazon, elon musk is often at the table. how much can you really say to donald trump or accomplish when one of your biggest e

goldman sachs. united health bouncing back a bit, almost half a percent.zon, a third of a percent. back to the dow for a second. we're talking about the slide of the dow. it's a nine session slide. it's looking to break that. it's the longest daily losing streak since 1978. take look at the downside move since all the way back on december 5. unh, nearly half. accounting for half of that slide since december 5. you can see the chart down more than 20% over that time. all right, we want to check the market this morning ahead of the final rate decision of this year. the benchmark holding steady at 4..4. and bit coin, backing off of the record high this morning. you can see pulling back 2%. trading at 104,000. about $200 per coin. week to date up, just about 2.5%. all right, that is your morning money set up. now we want to turn to the fed of 2:00 p.m. eastern time today. investors are counting with nearly 100% probability that the central bank cuts the prime rate by another 25 basis points. looking ahead to 2025, and into january. hit pause after three likely

. >> let's not forget that david sachs is crypto czar. there's a history with big tech. the company's trajectory changed because of microsoft and how the world changed. you have some really interesting dynamics to think about. >> i think that we have to wait to see how much influence mark has. i know he said he has been in meetings. i would say elon is more influential than him. i think the main priority is, can we let big tech acquire our companies? we invest in the companies. the ipo market has been in nd out. we need an exit. it's been looked at as anti-competitive. but silicon valley vcs need to sell companies they invested in to big tech to get the return. that's the number one issue. >> we look back and we say, okay, we are surprised by the number of deals that were actually able to happen in the context of everything that we have talked about? a friendlier ftc, but all of the other personality clashes and policy issues that are there behind the curtain. >> i think we will see lots of deals that will happen. i don't know if there's a lot of surprise. i think we hav

look at goldman sachs, they are quitting the net 0 banking alliance. is aimed at alighting bank lending and investments fighting climate change. goldman is the biggest to walk away from the group, no impact on the market, down a couple points, 594 for goldman. last night donald trump received the honorary award for patriot of the year, the fox nation patriot awards. he appeared in person. bill melugin joins me from west palm beach, florida. what is the latest trump pics? >> good morning. a handful of pics a couple are his choice for cvp commissioner and his choice for an artificial intelligence and crypto czar. he standing behind his picture defense secretary pete hegseth. he just posted on truth social earlier this morning and part, quote, pete hegseth is doing very well, his supporters strong and deep, much more so than the fake news what have you believe, he was a great student, princeton, harvard educated with a military state of mind or. he will be a fantastic high-energy secretary of defense who leads with charisma and skill, pete is a winner and

goldman sachs citigroup. the u.s. chamber of commerce the ohio bankers league and the ohio chamber of commerce, they're filing litigation against the fed and they're really challenging the legal aspects of the stress tests. they call it the opaque aspect of stress test. while it's an important risk management tool for advisers the lawsuit seeks to resolve longstanding legal violations by subjecting stress test process. here's the backstory, the banks have been upset with the stress test process, this has been going over 15 years, as a result of the financial crisis to try to reassure the public that the system is safe. the problem is, it has been shrouded in secrecy as far as the methodology and it never received public comment in order for it to go into law which apparently is something the banks are challenging the legality here, why now, as i understand it, the statute of limitations is up a few days after january for the banks to be able to challenge this. which is why interestingly the federal reserve yesterday r

the goldman sachs conference about expenses and about tne and about de regulation. and jp morgan and citi group talking about investment banking fees. >> citi is up 4.5% as we speak. jenny. >> i'm going back to organon. 7.5% dividend yield. >> good stuff. i'll see you at three on "the closing bell." "the exchange" starts now. >> thank you very much and welcome to the exchange. i'm kelly evans and here is what is ahead. republicans have an ambitious agenda for the first 100 days and there is already friction and a big bump in investment under trump 2.0 and another that could get obliterated. plus this name was put on the map last week. earnings crushed it and analysts loved it and the ceo is here and he'll talk about what makes them so well positioned as the a.i. buildout continues. tweet me if you think you have the answer. and could we get a three-peat of 20 plus returns next year. our market said there is better chance of that than the chiefs winning the super bowl again. that is the stats and the trades. let's start with the markets. >> i'm in green and i i'm loo

that is tony pasqureriello, goldman sachs.ne against, marathon asset management bruce richards is right here on this desk as well. with his forecast r foprivate credit in the new year. just after the break. "bell" is coming right back. ? my daughter. who gets married someplace more expensive? my other daughter. cancun! jamaica!! why can't they use my backyard!! with empower, we get all of our financial questions answered. so we don't have to worry. can we get out of here? i thought you'd never ask. join 18 million americans and take control of your financial future with a real time dashboard and real life conversations. empower. what's next. custom ink helps us motivate our students with custom gear. we love how custom ink takes care of everything we need so we can focus on the kids. we make it easy to wow all your groups with high quality custom apparel, accessories, and promo products, all backed by our guarantee at customink.com. >>> private credit as an asset class has surged from just $40 billion in 2000 to an estimated $

donald trump has just announced his pick of silicon valley billionaire david sachs to be the new white house crypto and a.i. czar. you are probably old enough to remember way back in january of 2021 when sachs said this of trump after the capital insurrection. "i think he's disqualified himself from being a candidate at the national level. if you want to see this mob as a gun, i trump loaded the gun. he pointed it in a certain direction." that is our show for tonight. now, it is time for "the last word" with lawrence o'donnell pretty good evening, lawrence. >> turns out, alex, you simply cannot find enough people who have always been loyal to donald trump. >> literally, all of them at one point have said, you should retire forever from national politics. >> right, it's pretty amazing. alex, i know you know there was a house ethics committee, one of those closed-door house ethics committee meetings today to consider the possibility of releasing the report on matt gaetz. glenn i.v. is a member of the house ethics committee, he is going to join our discussion in this hour. >> that's a big

and cryptocurrency czar and will be tasked with creating a legal frame work for the crypto industry sachs hosts the "all in" podcast, and sticking with the president-elect, u.s. energy giant chevron says it will cut capital spending next year and dial back its u.s. oil operations in what appears to be in direct defiance of trump's drill, y, drill pledge this will be the first operational draw down for chevron since the pandemic oil crash. >>> and elon musk's xai has raised $6 billion in few funding valuing the ai startup at $40 billion. in may, they valued the company at just $24 billion, frank >> thank you very much. >>> moving onto this morning's top market story, and the upcoming november u.s. jobs report they expect added 214,000 compared to just 12,000 from october, though labor strikes and weather, they were largely to blame for what was the worst jobs report since december of 2020 the unemployment rate expected to tick up to 4.2%, and today's report will be the last economic data point before the fed's final rate decision of the year coming in in about two weeks on december 18th. j

venture capitalist david sachs as the country's first ever white house ai and crypto czar. in a statement, trump said sachs will work on a legal framework so the crypto industry has the clarity it has been asking for and can thrive in the u.s. in a rare move, fbi director christopher wray plans to resign when president biden's term in office comes to an end. wray is in his seventh year of a ten year term, but with the incoming administration, he was faced with two options he could leave or wait until president elect donald trump removed him. trump had signaled his intent to replace wray with ardent supporter kash patel. wray says stepping down is the right thing for the bureau. >> my goal is to keep the focus on our mission, on the indispensable work each of you is doing every single day. and in my view, this is the best way to avoid dragging the bureau deeper into the fray while reinforcing the values and principles that are so important in how we do our work. >> wray was originally picked for the position under trump, but their relationship soured after fbi agents searche

donald trump has just announced his pick of silicon valley billionaire david sachs to be the new whiteold enough to remember way back in january of 2021 when sachs said this of trump after the capital insurrection. "i think he's disqualified himself from being a candidate at the national level. if you want to see this mob as a gun, i trump loaded the gun. he pointed it in a certain direction." that is our show for tonight. now, it is time for "the last word" with lawrence o'donnell pretty good evening, lawrence. >> turns out,

but still, this is a record level of concentration, according to goldman sachs.as far as what all of this means, for as long as a.i. stays hot, we could keep seeing the markets go higher and higher and this will benefit passive investors, right? everyone who has their investment portfolios blindly tied to the s&p and other market indicators. you think about everyone who is a 401 k or college savings plan, but in the long run, it's not really healthy to have the market depend on the success of just a few players. it would be like an nfl team that can't score without their running back. what if the running back gets hurt or gets into a slump, right? you're out of luck and we have seen that play out in recent days where the mag seven stocks have fallen and they've dragged down the rest of the market. it's almost impossible for the overall market to go up when these seven stocks are all in the red. i do think that as we close out what has been a blockbuster 2020 for in the stock market, this does expose a potential vulnerability in 2025 because for the market to keep

oh, goldman sachs, please hire me. >> you're fired. what have you done in 2024 that landed you on the naughty list? >> goes to some girls. i my ex-boyfriend. i voted for donald j. trump. my ex called the cops on me. >> what did you do? >> oh, i threw a drink at his face. >> sounds familiar. >> have you sat on any santa's lap today? >> no, but if you're above the height of six foot five, hit me up. >> the only one i know taller is my son, barrett. that kid is tall. >> santa knows when you're sleeping and he knows when you're awake. what's that about watching me sleep? >> it's a little creepy. santa knows when you don't go to church. >> the fbi is watching me. santa is watching me. it seems like everybody's watching nowadays. >> who is the naughtiest person in 2024? >> diddy. that guy that just shot the ceo of unitedhealthcare. kamala harris. donald trump 2024. kamala harris supporters are just way too stupid. i shouldn't be saying that. i really should be saying that. >> but you are right. >> who's older, santa claus or joe biden? >> de