goldman sachs has predicted — those in the uk. goldman sachs has predicted 0.996 _ those in the uk.edicted 0.996 growth in i those in the uk. goldman sachs| has predicted 0.996 growth in uk has predicted 0.9% growth in uk this year which is significantly less in the boe predicted. what do you make of that? ., ,., ., , that? there are some headwinds for sure. that? there are some headwinds for sure- the _ that? there are some headwinds for sure. the fiscal _ that? there are some headwinds for sure. the fiscal position i for sure. the fiscal position is challenging but i would point out yields are moving in line with other markets particularly in the us and inflation is persistent but i think the bank of england have made their position very clear. some of the reforms we expect to come online will have an impact so we are constructive. you do need to deliver some time and take some time to see some of the impact of those reforms coming through into the real economy. but we remain constructive on the uk both as an investment destination and importantly a place to do business for us as

ken: a strong delta for goldman sachs.oldman sachs. 15% of total net revenue comes from net interest income. it is on face service revenues across all its businesses. i like the announcement where they are trying to get a front row seat for private credit. we will be speaking about that more this year. i like what goldman is. the rearview mirror was consumer banking. goldman will define. jonathan: we will talk on the numbers drop around 7:30 eastern time, 20 minutes away. stay close. ken leon. joining us to extend the conversation is edward yardeni. welcome back to the program. equity futures up on the s&p. does this give you the all clear on the economy. -- economy? edward: i think so. bull markets are not sustainable unless the banks are doing well. they seem to be doing very well. the economy is growing in loan demand is growing. as you have pointed out. -- pointed out, the new administration will be easier on regulations. as a result of deregulation the banks will benefit. the most obvious beneficiaries immediately fro

maria had a guest talk about goldman sachs, goldman sachs earnings-per-share is expected to jump 49%-year. i'm assuming that will be one of the stocks you will watch tomorrow but i'm curious your thoughts on walls forgot big of america we had guests come on let the loan under mortgage loan portfolio have a lot of california exposure in the going to have to come out give us some commentary may be on the conference call, what do you think. pete is also significant i don't get enough to bring down they have been under set strict regulatory scrutiny and dirt under tremendous diversification in a think there will obviously be insurance to supplement those people devastated by mortgage from the fire. i'm not looking at that as an event that the pop elected from a financial standpoint. it is a personal standpoint these are broad diversified or cautious on community banks and regional banks. i would be cautious about banks that are centered in california and overweight in a small community basis. maria: the other day a week ago ubs downgraded goldman sachs due to neutral having dependence on

we were waiting to hear the role of david sachs. what do you make of this?that out loud. sounds like what we need. the complaint from the crypto world, we are part of that, wouldn't make any decisions at all, wouldn't decide what the rules were or tell people, not how of a rule of law works. you can say some things are legal or illegal. the crypto industry needs regulation. from bad actors in this space. having a legitimate crypto bassists requires people knowing this i can trust and this i cannot. anyone who is a real business player in the crypto world isn't against regulation but it is regulation that is sensible and that you know what it is to comply with that not risk going to jail, first time in four years the sec and the federal government said here is something smart and sensible. we have to see what the task force comes up with but is this the right first step? absolutely. taylor: is this what the market was waiting for? >> i don't know. i don't think the market necessarily needed this, bitcoin getting up to 109 but -- one hundred 5. i don't think r

encryptor czar david sachs wrote this on x it will be very competitive and president trump was righto resend the bite in order and the companies without asking if china would do the same i'm confident in the united states but we can't be complacent writes david sachs, trump his writing to keep a competitive watch this. >> in the future we're going to be placing tariffs on foreign production of computer chips, semiconductors and pharmaceuticals to return production of the essential goods to the united states of america they left us and went to taiwan with 98% of the chip business we want them to come back and we don't want to give them billions of dollars like this ridiculous program that biden has given everybody billions of dollars they needed incentive and that's going to be there i want to pay a 25, 50 or 100% tax. maria: fox business has confirmed that deepseek a.i. will not respond to any questions related to the ccp or the 198019 elements a protest, the uighurs, slave labor, whether xi jinping is a good leader no comment on any of that from deepseek, when asked about taiwan dee

they said, how did you get david sachs? how? he is doing it for the country more than anything else. we appreciate that. >> this is an executive order establishing a presidential commission and advisory commission on science and technology. pres. trump: good. you want to explain that a little bit? >> the basic idea is to get together top people from the government and from the private sector, technology industry as well as educational institutions, to make sure that america maintains its leadership position, in science and technology in the years ahead. pres. trump: good. that's great. >> next are we have a presidential memorandum encouraging departmental agencies to promote federal recognition of the lumbee tribe of north carolina. pres. trump: oh, i love the tribe. they were with me all the way. north carolina, the lumbee tribe. ok, you will send them a copy of that? they were great. >> yes, sir. if you can get them that pen sir, as well. pres. trump: yes. >> next, we have a set of pardons for peaceful, pro-life persecutors wh

goldman sachs is up 7% upon wells fargo, city, up at least serve. seven. to me that's a multi-year period where banks are going to do very well and this is a risk on environment with animal spirits coming back and capital markets coming up so it should be good for all banks. >> stocks to avoid, intel, airbnb, alibaba, verizon and nike. nike is just not going to be out of its own way still or what? >> these are one-month views, and so yes, i think it's -- in the absence of a fundamental catalyst, i think many of these have been already companies with not clear visibility and weakening fundamentals and poor price momentum. so i don't think they're stocks that i want to be trying to pick up. >> all right. good to catch up with you, tom. as lways, tom lee. right here at post 9. >> up next, we debate the fate of the techtrade and vista equity partners ashley macneill, and we are back on the sector after this. lammed shut) for eighty-nine years, morgan stanley has offered clients determination and forward thinking to create the future... crowd: stop it! ...only

digital assets he is now in the united states to be the capital for crypto here is crypto czar david sachs in an interview with fox business. >> america was about to lose the technology of the future and we want innovation happening in the united states and i think it will happen in the united states because president trump has declared the u.s. must be the crypto capital of the world. >> after trump telling business leaders of the world economic forum he's going to lower taxes if they manufacture in the u.s. or if they faced tariffs if they don't meanwhile as trump visits storm ravaged north carolina into her wildfire damage more of the cabinet nominees are clearing the respective committees with john ratcliffe confirmed as cia director futures right now were looking at a pullback countdown 62 nasdaq 1029, the dow of 400 points as the s&p 500 finished in record territory fueled by trump's comments that he made about davos and abby earnings season as well. let's take a look at oil big story he was talking about crude yesterday, right now crude is up experts in, let's take a look at rates w

goldman-sachs senior consumer analyst.hares rising 2.6% on higher volume rather than price hikes. but with do see other companies signaling price increases in that space. coming up, the world economic forum currently underway in davos, switzerland, and among those in attendance is the president of ukraine. our exclusive interview with him next. this is bloomberg. ♪ why do couples choose a sleep number smart bed? i need it a little cool and i need it a lot of cool. sleep number does that. sleep up to 15 degrees cooler on each side. 9 out of 10 couples sleep better. and now, save 40% on our new special edition smart bed. shop a sleep number store near you. scarlet: this is "bloomberg markets." i'm scarlet fu. the world economic forum currently underway in davos, switzerland, and pong those in attendance is ukrainian president volodymyr zelenskyy. yesterday he said he sees things moving in the right direction for ukraine after president trump's inaugural pledge to expand u.s. energy exports after he campaigned the promise to

thank you for your time ken shinoda of double line and lindsay rosner of goldman sachs.nings, inflation data, the fed and ecb's first rate decisions of the year. a lot is going on. stick with us. this is "really old" on bloomberg. -- this is "real yield" on bloomberg. (♪♪) (♪♪) what took you so long? i'm sorry, there was a long line at the thai place. you get the sauce i like? of course! you're the man! i wish. the future isn't scary. not investing in it is. nasdaq-100 innovators. one etf. before investing, carefully read and consider fund investment objectives, risks, charges, expenses and more in prospectus at invesco.com sonali: i'm sonali bassett. this is bloomberg real yield. it's time for the week ahead. monday, remarks from ecb president christine bogard and earnings. earnings from lv mh, royal caribbean on starbucks. more of a read into the consumer. wednesday i said rate is instead at a press conference from chairman powell and big tech earnings kickoff. hard to know which will have a bigger impact on the market. it may be technology this time. thursday morning

. >> did you see ubs is downgrading goldman sachs this morning ubs downgrading goldman sachs to neutraly a strong well positioned franchise valuation downgrading gold fold to neutral business modeled leans heavily on gbm, 65% revenues your thoughts on this downgrade of goldman sachs this morning your pick? >> yes well it is trading at 13 -- 1/2 times next year's earnings and drops in 2026 obviously,. we think they are going to continue to leverage their business, i don't pay much attention to analysts upgrades and downgrades they tend after the fact we use them for factual research but for upgrades and down grazed usually you want to buy when wall street is pessimistic a fabulous year last year may stall out all in 12 best ideas portfolio outperformed market since inception in 2019. we don't need all of them to work all the time, we just need most of them to work so i still like the name despite the downgrade. maria: all right. just wanted to mention because this morning what ubs is telling clients nancy great to see you as always. >> a "fox business" exclusive 1789 capital partner dona

first, goldman sachs cohead of m&a. and after that, live to the annual jp morgan health care conference in san francisco where we are going to hear from gsk's ceo. first, a quick check on markets. >> the s&p 500 is moving lower, and then of course the biggest selloff now happening across big tech. meanwhile, we do see that some hedge funds put into prime brokerage data are buying the dip in some of those tech stocks. 10-year treasury yield's are moving slightly higher. we do see the 10 year is approaching this 5% level and finally crude. this is again a potentially inflationary pressure. oil is now trading around five months highs on concerns that supply will be really tight after u.s. treasury department issued more sanctions on russia. now let's talk about single stock movers. first, macy's. the stock is down after the company boosted -- posted disappointing outlook for sales for this current quarter. the stock is currently down by 7%. this is the lowest, the biggest drop since august. a big day for retailers overall.

in such a long time and what's exciting i was with david sachs talking at the summit in september andthe technology and how it's changing the industrial and government spaces and david sachs is the right person that we need right now he's well-balanced thoughtful and wise he will draw attention to innovators or big problems to ensure that we do best in america that's out innovate anyone else. a lot of bullish sentiments with the technology ceos behind the president at the inauguration yesterday. obviously a.i. is a major focus from davos this week, what you hear on the ground and what are you hoping to learn and what do you think the industry and you want to come out of dallas. >> a.i. is on the maps of so many people for the past 18 months one thing i can tell you behind closed doors is a lot of frustration and anger specifically was ceos and executives that have bought the packet of goods that were sold to them on slide decks by companies that actually are on the prominent today in the impact that they were promises not be delivered in some cases as worsening things in it draws all

from san francisco, harmeet dhillon, stanford doctor jay bhattacharya and former paypal exec david sachsp is surrounding himself with a lot of bay area voices and leaders here, which doesn't really fit the narrative of the bay area historically in terms of unless you go back to the reagan days of having republican leadership here, right. we've seen a few during the years of republicans, but not all that many. and we've also seen a lot of bay area types say, hey, we're not about d.c. let us do our business out here. but now we're seeing the two worlds mix quite a bit. it's going to be really interesting to see what happens in silicon valley because of the people you just mentioned, whether it's a high profile doctor or a vc or a lawyer. these are really people that have made us move, and now they're going to dc to make dc move, and silicon valley could be even more a powerful place and a place where the rest of the world is watching, not just for tech, but for political influence as well. and we really haven't seen all that, all that much as job security for you, perhaps. so we have a lot

but he's creating a working group on crypto, which will have david sachs involved.achs was in the oval office with the president moments ago, explaining the details of it to reporters, who will explain it to us when they come out to the press briefing room. but it does look like there's a working group here and maybe some more details from the white house changing federal policy on crypto. so a couple of different buckets there to watch for, but particularly interesting in terms of his relationship with jay powell, scott and so much attention had been focused on whether or not he would try to remove powell, whether that would even be legal. he has signaled that he wouldn't do that. but clearly today we are seeing an effort by the white house to rattle the cage a little bit over at the fed. the president saying he expects the fed to listen to him when he talks about interest rates. >> yeah, we'll follow that for certainly the crypto news. interesting. but just to underscore a working group, not a definitive national digital asset stockpile of yet. correct. >> yeah. w

. >> brian: goldman sachs $39 million as his bonus.vidently everyone at goldman sachs got less than they ever did before. to me fundamentally not that the people at goldman saks are hurting but you walk in not making an a lot of money as entry level salary if you are pulling the same way. ceo i'm not taking $39 million and cutting my workforce a smaller check. i'm just not doing it. >> steve: do you know where goldman sachs is moving one of their main financial hubs? dallas, texas. >> brian: there did you go. >> ainsley: tax free state. >> steve: coming up. >> brian: that was steve's voice intone nation i should read. president trump is calling on republicans to stand united in florida on ways to move the president's agenda forward. tom ehmer on how he will whip his party in line next. ♪ since she was able to enjoy a smile of her own. good thing aspen dental offers affordable, complete care all in one place. and new patients without insurance get 29 dollar exams and xrays. plus 20% off treatment plans for everyone. loving our patients

. >>> welcome back to fast money, jpmorgan, goldman sachs, some of the marquee banks beating earningsimates. bny, discover, financial and american express hitting new highs today. everything about this environment is great for financials, karen. >> it really is. i mean, on every front. you have net interest income, which is great. you had other income, which is great. you had banking. you had asset and wealth management, growth in loans. i mean, and you're in that capital potentially more capital. they might be able to release some capital. and a great environment overall in the economy. so there's a lot to like there. >> so we've liked the sector. i do think the investment banks are getting a little pricey. we've still got solid earnings revision trends, and probably a bit more room to run. look, i think a lot of the sort of less challenging stuff for markets, good stuff, so to speak from the trump administration, easier regulation, m&a, increased business optimism, all of that stuff feels like it hasn't happened in a big way yet. it's still kindling, and things like tariffs aren't r

despite the yee -- geopolitical headwinds, goldman sachs is not forecasting a big jump in 2025.his year with an average of about $76. joining me now in a fox business exclusive, goldman sachs' global commodities research co-head, don. it's great to see you. you've done a lot of research that you've released this week on that. let's first talk about the sanctions from the biden administration against russia. now that the concerns about inflation are over, the biden administration in their last days seems to put them, has put them in place. the question is, will donald trump enforce these sanctions? >> yeah. thanks a lot for having me. it's definitely a broad package affecting the full supply chain of the russian oil industry. producers, traders, export if terminals, insurance companies. i think the two big questions now are, as you pointed out, number one, will the trump administration continue these tighter sanctions on russia? and second, as russia has sort of built out this alternative supply chain, how much bite are these sanctions really going to have? or base case -- our ba

but at the same donald trump use a jeffrey sachs video from a few months ago on his own true social. i mean, it's his, the people he's chosen or very uniform, but we still don't know what he himself actually thinks, putting that video out of what uh, jeffrey sachs said about netanyahu was a remarkable event, may be a historic event. go ahead tom. well, it's a, it's same similar to it is a, is remarks about put in russian ukraine a couple of days ago, which were when the, when's the last time we heard foreign policy, rationality about russia from an american senior american politician. never like she's about to become the only other one is he's about to become a director of national intelligence policy garrett. right. so what i say, you know, the, the, the, the risk here with this the ceasefire and i'm the pure strategies here. this is not my opinion, this is just me playing the game board. he's got he's gonna have problems. right. he's got yeah, yeah, he's going to have problems. and within, not only the, the movement itself because he's, it's, it's the people who backed them and put

but at the same donald trump use a jeffrey sachs video from a few months ago on his own true social. i mean, it's his, the people he's chosen or very uniform, but we still don't know what see himself actually thinks putting that video out of what uh, jeffrey sachs said about netanyahu was a remarkable event, may be a historic event. go ahead tom as well. so it's same similar to is, is uh, his remarks about putting russian ukraine a couple of days ago, which were when the, when's the last time we heard foreign policy, rationality about russia from an american senior american politician. never like she's about to become the only other one is he's about to become the director of national intelligence, tulsa garrett, right. so what i say, you know, the, the, the, the risk here with this the ceasefire and i'm being pure strategist here. this is not my opinion, this is just me playing the game board. he's got he's gonna have problems. right. he's got yeah, yeah, he's going to have problems. and within, not only the, the movement itself because he's, it's, it's the people who backed him and

, but we still don't know what he himself actually thinks, putting that video out of wood, jeffrey sachs, and about netanyahu was a remarkable event. maybe a historic event. go ahead tom. well, it's a, it's a similar to is, is uh, his remarks about putting russian ukraine a couple of days ago, which were when, when's the last time we heard foreign policy, rationality about russia from an american senior american validation. never like she's about to become the only other one is he's about the director of national intelligence, tulsa garrett, right? so what i say, you know, the, the, the, the risk here with this the ceasefire and i'm being pure strategies here. this is not my opinion, this is just me playing the game board. he's got he's going to have problems. right . he's got yeah, yeah, he's gonna have problems and within not only the, the movement itself because he's, it's, it's the people who backed him and put him in power. and i think the thing we need to look at here is, what is trump going to do next? these are the a, ron, because getting a ceasefire with a mouse is one thing, bu

jp and goldman sachs reported a surge in profits.fuelling the markets optimism that may be that post—election rally was justified after all. joshua mahony is chief market analyst at scope markets. relief all around if you look at what was going on in london and the us. give us your take on what has been happening in the last day or so. the focus of late has been of a potential reflation as we see donald trump coming into office, the potentialfor his tariffs have a knock—on impact and the fact that the pound has been weakening so within the uk certainly there is a perception that we could be importing inflation from the us. we are not necessarily out of the woods. there are still question marks about what will happen when donald trump comes into power and question marks about whether we see the impact of the labour policy to raise national insurance contributions by businesses and the minimum wage. there are still some question marks to be answered. this feels like a relief rally. it has been the best cpi day since late 2023 so really

back in a moment. >>> goldman sachs' conference call just wrapping up. wells fargo kicking off at the top of the hour. leslie picker has a lot of stuff to listen to this morning. give us the headlines, leslie. >>> the wells fargo call is ongoing. the ceo charlie scharf kicking off the call . against that backdrop, scharf was optimistic about the broader environment of wells fargo's place in it. >> the economy has performed very well and remains strong. unemployment is well in 2025. we succeed when the country succeeds so the incoming administration's support of u.s. businesses and the porters optimism as we look forward. >> and that the ceo said there has been a meaningful shift in confidence particularly following the result of the u.s. election. he added there is a significant backlog from sponsors and increased appetite for dealmaking supported by an improving regulatory backdrop. >> it is certainly setting up to be much more constructive and robust and the data says -- you know, what allows us to articulate that, we can track the backlog, but we can

jpmorgan and goldman sachs both reported a surge in profits.that market optimism that perhaps that market optimism that perhaps that post—election rally was justified after all. joshua mahony is chief market analyst at scope markets. he gave me his reaction to wednesday's stock market rally. the focus of late has been about a potential reflation, especially as we see donald trump coming into office, there is pent, potential has a terrace to have a knock—on impact, and the pound has been weakening so within the uk there is a perception that we could be importing inflation from the us. of course, we are not necessarily out of the woods, there are question marks about what will happen when donald trump comes into power, there are also question marks, questions about seeing the impact of the labour policy to raise national insurance contributions by businesses and the minimum wage, there are still some questions to be answered. sadly this feels like a relief rally, it has been the best cpi day since late 2023, and so really it feels like markets ha

goldman sachs pushing back there forecast of $3000 per troy ounce until the middle of 2026. let's cross over to asia. avril hong standing by. what is standing out to you? >> it is how it's been fluctuating on the benchmark is what is standing out and this is a risk off day as the dominant themes for the year are expected to still be about these tensions between the u.s. and china. the greenback uncomfortable for asian equities, starting the trading year on the back foot despite the weakness in the japanese currency and helping to cap some of these declines, the chip stocks as microsoft talks about plans for $80 billion in spending on the ai data centers, reinvigorating the ai theme and the stock gauges outperforming. and china continues to struggle after what's been a difficult start to 2025 and also concern expressed about chinese economic weakness and if you look at what we are seeing today via the pboc it is providing some support for the chinese currency. but if you look at how it's been varying based on the renminbis basket it has actually been gaining against some of i

and it must be said that the idea was from a conversation by another width and goldman sachs who came for the 1st time and talked about imagining economies, particularly the economist or need who talked about bricks to me in browse vill russia, india on china between the 200, the 2000, the 200112009. there are many activities with the fust measure meetings taking place in the 2009 and of costs. and the 12102011 south africa was admitted. and it was no longer brief but bricks and then i was off course of what was the reason behind this suggestion that there should be an economic broke or couldn't economic. but you know, not the brits. the reason must be understood in the context of history, in the context of history, to mean that many of african countries wide dominated by western institutions so that you had a government such as is a low man convention which was between the african countries on 03 in union, outside of below mich convention, you, i'd conventions i, to the quarter new convention. and aside from that, we also, so that the, i am i a mess and the log bunk. what very domina

goldman sachs, and the ceo of coca-cola. we will go around the world with the iggest and most important companies in the world. >>> so many things are coming out. i don't even know where to begin. the president of the nasdaq was speaking there. they did pick up an interesting anecdote, talking about the trump administration, and how ceos are looking at all of this. he says you should be thinking, need to be in the room and part of the discussion, so i don't become an unintended consequence. maybe that is why you have seen all these pilgrimage to mar-a- lago and washington, d.c. to make sure they get their points made, hoping to get their perspectives through to the administration. no better way to do that than to show up in person. we have earnings that are coming out today. we will be speaking with the cfo of johnson & johnson after their earnings get out. we will talk about everything they are seeing. we will speak with the procter & gamble ceo to talk about the big issues that international companies are facing as well. y

it's goldman sachs. financials reporting this week. what is it about goldman sachs that you like? we have a read on how they see the year ahead after earnings. one thing that is interesting is an increase in sponsor activity. you noted the number one m&a shop. >> that's exactly right. we like goldman for a few different reasons. we like the financial sector more broadly. i think the rate environment is going to be favorable for them. they are going to be a beneficiary of the deregulation and seeing signs of the new administration comes in. you know, they're pro growth. in a pro growth, deregulation environment and business environment, this is the best environment for them. that strong m&a that we saw and showed up in the earnings, i think we see more of that. they're in the best position. they retained their number one m&a advisory position. i think they're the best leader in this category. >> we also saw our first ipo yesterday. the ipo market may be restarting for the month of january. we have some other ones launching today. thank you very much. great to see you >> thank you.

wells fargo and goldman sachs, both cheap. it would have been a benefit from any of them.e in new york. >> caller: how are you? >> i'm doing okay. how about you? >> caller: i'm chilling. it's a friday. >> all right. five inches of snow here. it sounds cool. what's going on. >> caller: i'm a big fan -- i'm sure you are -- of jessica tisch. i was checking in on some stuff. they used to have this superstar ceo. he is leaving. i'm irked with the fires and stuff. i don't know necessarily i want to go into insurance. >> i get it. it has been -- i totally understand the bloodline, it's not the one i like. i like chub. these where i want to be. i'm not crazy about the book. i'm going chub. i need to go to joe in new jersey. >> caller: hello, mr. cramer. thank you for having me on. >> my pleasure. what's happening? >> caller: for stressing on the importance of diversification. i love that. that's what keeps me in. >> excellent. >> caller: i have owned visa for a few years. it has gone up considerably, over 200%. if the new administration lowers the maximum interest rate they have b

morgan and goldman sachs removing one were cut from their forecast. the conversation is how close are we to that threshold to hikes? many economists think we need to see a resurgence in inflation, maybe core pce breaching 3% to get that kind of narrative change but if you flip and see what's been going on in the equity market, it is not pretty. we saw that 11 basis point rise in those front end to your yields and that's been sinking the equity market overnight, down .4% after that slide on friday. >> we have the inflation data out on wednesday. above and beyond the u.s. inflation story, what are the other risk events on the table? >> a close inauguration day for donald trump due to take place seven days from now. the market is bracing for any more leaks on the tariff story so watch out for how the dollar reacts. that's mainly been traded by the fx market in the dollar index hit fresh highs overnight and we have heard many other comments about terrorists, one of which being last week we heard from governor waller saying he does not think tariffs are in

this very moment and i think president trump needs to investigate immediately weird heard from david sachs today. i do not think american companies will change the course of history or selloff in association with this. i think this is created a buying opportunity but something is happening the battle is joint it is begun officially in a gotta tell you something is very worrisome so we brought in the best to help us figure it out let's bring in tech analyst, i gotta tell you everything about you all weekend, guess what i i am studying this most of it is going over my head i created a checklist of the folks that said the deepseek is real and why they say israel i want your thoughts for instance the multi-token system let's go to the reinforce learning it gives an edge over chat gpt, do you agree? >> quite a few things on the checklist are things that chat gpt another's leverage now and will leverage especially as blackwell is released like experts in the multi-token system and mixed point floating precision. those capabilities are built-in to invidious gpu inward deep-sea cassette itself apa

they said, how did you get david sachs? how did you do that? he's doing it for the country more than anything else so we appreciate it. >> this is an executive order establishing a presidential advisory commission on science and technology. pres. trump: he went to explain that a little bit -- you want to explain a little bit? >> the idea is to get people from government, the private sector, the technology industry and educational institutions to make sure america maintains its leadership with respect to science and technology. pres. trump: good. that's great. >> next, a presidential memorandum encouraging departments and agencies in your government, including interior, to promote federal recognition of a tribe in north carolina. pres. trump: i love that tribe. this is the first big step, right? >> this would be. pres. trump: they were with me all the way. and you will send them a copy? >> yes, sir. pres. trump: they were great. >> if you like, i can give them that pen as well. pres. trump: let's do it. >> next, a set of pardons for peaceful pro

goldman sachs joining a new group for facilitating finance deals.tock is up this morning, about two thirds of a percent. how does that all square for you in terms of the earnings given this move in rates? >> i'll tell you what, it's a little hard to make a square of all of that. there's a lot of edges going on. maria: yeah. >> it does seem overall positive and when we really leak at especially how jobs did last week and combine with all the other economic data we're getting i'm expecting the big banks to be pretty positive. the other reason we're up on those banks is because of the comments that we heard coming out of goldman just talking to chris a little before the segment about the fact that we are sort of going into a financing world where if we're going to settle at this higher level of prices, americans are just going to start breaking up their payments for items that are not typically finance worthy as we would say. so maybe something that is $1$100starting to be broken up, putting more transactions on the payment rails which benefit masterca

goldman sachs with investment banking record is one of the better banks to position for that. you want to take advantage of the banks here. they are trading at good value and will increase dividends. leslie brought up a great point, i would stay in the banks. >> financials are one of the better performing sectors day in a pretty mixed day. what do you think? >> it has been a mixed day. we got a reasonable producer price index report. hopefully the consumer price index comes in line with expectation tomorrow . the reality of all of this scott is that we had a market that was expecting lower rates, that had priced in a lot of rate cuts over the past years and had to back it out. we basically backed out the rate cuts, all but one. we had a pretty significant steepening. at some point, rates get too high and you start to slow things down. we have done all of that. and yet, the markets, the broad market peaked, down 5%, a bit worse. but we have dup that. so the question is how much more policy uncertainty are we going to get? i think the producer price report helps and the consumer

the year, we've got a classic bull versus bear showdown on uber from the analyst community, goldman sachs.s. conviction list but jmp downgraded it. from outperform to market. now let's start with the bear case we got from andrew of jmp. there are two main reasons for his downgrade. the analyst believes waymo, the google offering, has a better service that will be able to take share from uber while tesla's robotaxi venture represents a risk. involving involving musk is a risk. basically jmp is arguing it's a real threat. waymo had 175,000 rides per week in november. that's up 15% from the month before. so i get why they're worried about this in theory but it seems like a bad reason to sell uber in practice. even when waymo quote, still too small to impact results, end quote. i'm surprised they have 135,000 rides a week. i think they should be doing better but the analyst argues that it's likely to be capped until uber transitions into avs. they're also worried about the trump administration. given elon musk's close relationship with the president. now i question this whole line of thinking

morgan chase, wells fargo, citigroup and goldman sachs all reporting coming up this morning, bank of morgan stanley will report tomorrow. commonwealth financial network chief investment officer brad mcmillan, great to see you thank you so much for being here, what are you expecting from the banks this quarter. >> i think it's going to be a good quarter, there is a lot of worry about how the economy is falling apart and the jobs report that we just got in worries about the demise are premature at best. i think you will see reversal of loan-loss reserves. you will see relatively strong performance in going forward which is the real question, the guidance we are seeing the yield curve normalize so i think it is going to be a lot more optimistic looking forward than they have been. maria: now that were talking about the fourth-quarter likely more important part of the story is what they say about 2025 angela get a backdrop of trump policies coming in. a lot of deregulation which is major. maria: this is beneficiary the biggest beneficiary of deregulation is the bank. >> in the energy sec

goldman sachs earnings crossed moments ago. let's get to cheryl with the numbers.r it's good news, what do you want to tell us on goldman. >> a plea you blow out on gold. profits jumped up to 105% at goldman, earnings per share came in 11, 95, estimate was 822. talk about that jump. 13.87 billion on revenue and the estimate was 12.39 billion. revenues were 2 billion in this quarter a year ago, they declared a $3 per share dividend. they bought back 3.5 million shares. this stock is adding 80 points to the dow right now, maria. they're also talking about the outlook and it is bullish. based on the incoming administration change, m&a, deal making, trading, debt sales were strong for the quarter and investment banking fees up 24%. that stock gained 48% last year. can't wait to see what it's going to do today. maria: invotement banking was up so much in the fourth quarter. i wonder what 2025 looks like because you're getting rid of lena kahn at the ftc and putting in busy friendly people there. >> they're putting in a whole new division. maria: there you go. stay with

and we're awaiting goldman sachs and citigroup.ink, chief investment strategist at hightower advisers and a cnbc contributor. you've own the some of these names in the past, stephanie. give us the snapshot of at this point in time, from what you know so far from who's reporting. reported. >> yeah, so far so good, right? i think the big theme on the positive side for the quarter for all the big banks is going to be fee growth, and this is exactly what we saw from jpmorgan and warg wells fargo, up 59%, these are huge numbers, and last quarters, very big fees as a surprise to the up side. you're going to continue to see equity capital markets from 40 to 60, 70%. bank of america is going to post a 70% number. investment banking, 30% on average, and equity and trading in the teens. that's the positive. also positives, m&a. remember last year, we did $3.3 trillion in global m&a. larry fink just talked about it, right, so we are going to see a tail wind this year from the momentum last year. but it should improve under the trump administr

goldman sachs ceo said something to the effect, there's been a meaningful shift in ceo confidence since the election. so, we're setting up, tim, for what may be a very good ainge for for the banks. >> it is. i think market action was about the cpi, i do think the bank messaging was fantastic. when you think about jpmorgan and citi bank and old versus new, you know, jpmorgan has really kind of kept pace with innovation. the big issue all along, citi bank, they were not. there were so many inefficient investments. what we heard today is that actually the long-term capital prognosis for this bank is fantastic, $20 billion, essentially repurchase and the dynamics around the cost efficiency that will get better in '26 from what we hear means i think there's a lot more to go at citi bank. and i know this means nothing. if you drew a chart back on citi bank, because of the dilution there, it's back to '09 levels, but that's tomorrow's money. and i really think citi bank is an incredible story that has an ability to outperform, but banks did send a great message. >> you sit in the ceo seat, joe

goldman sachs paying ceo david sullivan $80 million to stay put for at least the next five years. $80ns to raise the ceos pay by 26% up to a whopping $39 million. this according to a new filing. shares of goldman sachs are up 2% on the notion he will be at the helm for the next five years. >> stability at the top, i guess the market is happy to see. thank you very much. we're also tracking shares of salesforce today. seema modi with more on that stock's move. >> reporter: hey, mike. analysts at cowen raising their earnings estimates after conducting an extensive survey on how companies are thinking about artificial intelligence budgets going into 2025. and they found that salesforce ranks right behind microsoft and amazon, referencing general excitement around the company's agent force, its a.i. agent platform. they also see new tailwinds including opportunities for salesforce to grow inorganically that will contribute to their position in a.i. and investors are willing to be patient with seeing the return on investment for agent force, the stock as you know, has had an epic run over

remember, last week goldman sachs put out a note that said there was only a 20% chance that the trumpwould levy these tariffs against canada and mexico but think about overall message from that group of investment advisors or goldman sachs, they're saying it's a threat, negotiation. you have stephen miller and howard lutnick that are saying the tariffs are real and we're going to put them down, tariffs first and we'll talk later. so that's why when the colombia pushback came so fast and furious, before we had the discussion about february 1st, this is why because the trump administration is sending the signal. this will be happening. this isn't a joke. and so -- and i understand his anger about the flights. it's their citizens. they're criminals. take them back. you know what, that could have made a -- that would have hurt colombia's exports by the way with coffee and it -- maybe my cup of coffee would have went up five cents, i don't care. i would rather have the colombians go back, maria. maria: he was in las vegas over the weekend proposing a new plan for the nearly 90,000 irs agen

goldman sachs, the bank, up nearly $30 a share, that's 5%. home depot, 3%.. amazon a gain of just over 2% there. the s&p 500, these are the winners -- [laughter] they're big winners. edison international. bank of new york. p if g and e corporation. -- pg and e corporation. builders first resources, etc., etc. they're all up 5% or better. maas nasdaq dinners -- nasdaq winners, costar, tesla up 4%, that's $16. constellation energy up another 3%. here's a big reason why the market's up so much, a huge decline in the yield on the 104-year treasury. -- 10-year treasury. that's pushed the price up and the yield down, and we've got a yield now at 4.666% on the 10-year treasury. the price of gold, that's going up along with just about a everything else in this rally. you're now hooking at $2, 700 per ounce. and bitcoin, well, has it hit $100,000? not quite. 99,2 is the latest quote. price of oil, that's up as well, $78 per barrel. nat gas, that's up over $4. the average price for a gallon of regular up just one cent overnight at $3.008. look at car, $4.39 per gallon

reports from jpmorgan, wells fargo, goldman sachs, and citigroup all before the opening bell.blackrock. the numbers in an exclusive interview with ceo larry fink. the s.e.c. filing a lawsuit against elon musk over his timing, over the timing of the disclosures of his stake in twitter. musk blasting the s.e.c. overnight on x. it's wednesday. the ides of january as "squawk box" begins right now. ♪ ♪ >>> good morning, everybody, and welcome to "squawk box" right here on cnbc. we've already from the ncaa market site in times square. i'm becky quick along with joe kernen and andrew ross sorkin. and yeah, it's not just every three months we get earnings -- >> every quarter. >> every quarter, every month we get cpi. that may be the more important read that we're going to get today. >> they're all important. every earning report, every -- >> the cpi really is important yesterday. >> cpi. >> we expected producer prices. >> cooler. >> cooler than expected, and that really helped markets until marketsed, we've got to do this again tomorrow. you have green arrows. u.s.

jp morgan chase, wells fargo, citigroup and goldman sachs reporting on wednesday followed by bank ofrica and morgan stanley on thursday. joining me now is cfra director of equity research, ken leon. good to see you. thank you for being here. before we get into the banks earnings what is your take on yields here and the impact that spiking interest rates will have? >> great to be here, maria. i mean, mostly rates are going higher for the right reasons. we have a u.s. economy growing at 2 and-a-half percent or more, the best in the world and if we have that plus healthy job growth which we did noted on friday, that's a good picture to deal with the headwind of higher rates. you know, the bond market always likes to say when yields get to a certain level, equities are less attractive but the story i think for the market, for equities and for banks is having strong earnings and upward revisions which i think we'll see from the analysts. maria: yeah, but what about their bond portfolios? if you have a huge bond portfolio and interest rates have gone the right way are we going to hear some