we're going to get to that in a moment with the great liz an sonders. why the inflation roadblock makes doge folk ifs -- focus' success even more critical. we've got a special guest on that. meanwhile, the market down, but i've got to tell you these days it's not about the market, right in it's more about individual stocks for retail and hedge fund investors. in fact, aye got to tell you, fourth quarter earnings releases have seen really compelling individual stories that are starting to emerge. and this is great for your portfolio. and, of course, everyone looking for artificial intelligence. and the move beyond sort of the picks and shovels, right, what's going the dominant theme for '25-'26. one name that's emerging is in the a.i. living market, a company called upstart. upstart last night reported, blew 'em away. revenues up 56%. by the way, they've been doing this for over a year, these amazing results. and, of course, the stock has erupted. it is up significantly higher,. 1.3% higher. and thissen continues a trend of overpriced ipos and spacs, rig

. >> charles schwab liz ann sonders opens her market playbook how she sees washington policy impacting plus her biggest takeaways from earnings season. john fort, nate jones... steps up to the mirror... lines things up... towels off... checks his fidelity app... looks to outside analysts to get a second opinion. nate likes what he sees... same page? -[ dog barks ] and he places the trade... before anyone hears him talking to himself. [ dog whines ] buy u.s. stocks and etfs for as little as $1, with no commissions. talk about easier investing. next on the red carpet we have gina costa... looking simply stunning... with this season's hottest accessory. -[ cellphone vibrates ] -oh, what's this? she's opening her fidelity app... to buy that stock... for exactly the amount she wants... no fees or commissions... what will gina do next? gina has roller derby at 6:00 pm. i'm there. get started investing for as little as $1. talk about easier investing. >> call 877 cash. now to get a $100 gift card for a free quote. >> all right, we're 15 from the bell. back to seaman. now for a look at the sto

to the floor show and charles back's managing director and chief investment strategist liz an sonders. i don't know, what have you and if your team at charles schwab noticed in does the market look speculative to you guys? do you use the term froth in your meetings now? >> i think there have been projects -- pockets of froth in the markets, not just traditional equity marks, but in the art and crypto markets. yeah, signs of froth, but not the kind of broad, speculative the froth that would be characterized as late 990s. and i'm glad you brought up the investors' most pessimistic in a while, that's the aaii. you have seen a big jump in the percent that call themselves bears. but importantly, that's an at nudal -- attitudal measure of sentiment. if you rook at things like fund flow, if you look at the put-call ratio, if you look at the b of airks a fund manager if survey showing funds have the lowest amount of cash that they've had in 10 years and a a aii itself does a measure of their members' equitial allocation. and in the time, the percentage of bears has doubled you have only, you'

liz ann sonders joins us this morning.ment strategist listen, you had some great data this morning just looking at trade uncertainty and sort of where we are right now relative to say the. >> last 20 years. >> yeah. you know. >> if you look at the us. >> trade policy uncertainty index it's actually. >> spiked up. >> it's not quite. >> to levels. >> we got. >> during the 2018 trade war, but it's gone parabolic. >> you know carl, i also wanted to pull on a couple. >> of. >> threads that. >> that you. >> as a team. >> there were just talking about what's, what's interesting to me throughout these past several days is and i understand the. >> focus on. >> importers, i mean. >> they're the actual. folks who pay. the tariffs. it's us importers to pay the tariffs. but there's been less focus. >> on. >> us exporters. and the exports out of our economy is 2.5% of gdp. and especially. >> with retaliations as. >> announced by china today, i think that has to become. >> part of the conversation. and then. >> to your other. point about

liz ann sonders of charles schwab. a fastening time to be in the market. doing well. you mentioned this over the past 30 days is see met a closer 20%, tesla down by 16%. there's a lot to get your hands around the moment. lisa: this is a storytelling market everybody is telling a different story and each company has a different reason for it to do well or not. and you are seeing that dispersion increasing. who was it that said investment is a trade that went wrong. i kept thinking about that. jonathan: he is like a hedge fund legend. lisa: if it is a trading market it will be a need for a long-term. >> i will say this i have heard some great tactical calls print the likes of blackrock getting long europe and taking the overweight off u.s. equities to close out 24 into 25 that's already a call to the far. >> it is going to be inflationary with tariffs, it's going to be deflationary with tariffs and you see it shifting in real time. you can understand the shelflife and if you don't know how to read trump maybe you can win big. >> equities on the s&p up by 0.5

charles schwab liz ann sonders ons her market playbook how she sees washington policy impacting the market, plus her biggest takeaways from earnings season. john fort, morgan brennan closing bell overtime today for eastern. >> cnbc welcome back. at healthcare focused ai startup called open evidence, raising some capital from sequoia boosting it to $1 billion valuation. and it's just the latest big funding round for ai health care a segment seeing increased investor attention. i wish them all the best. it's going to be tough. kate rooney has more in tech check. hi, kate. >> hi, kelly. yeah, this isn't easy, but this intersection of ai and health care, it's getting a lot of buzz in silicon valley. it's also seen as sort of the antidote to some of the doom and gloom around the more nefarious use cases. and the downside for this tech optimists think i could help cure diseases, help with the messy back office, and then make burnt out doctors more productive. open evidence is trying to tackle that burnout problem with a chatbot. they call it an ai copilot for doctors that the company claims is b

charles schwab liz ann sonders opens her market playbook how she sees washington policy impacting thetakeaways from earnings season. john fort, morgan brennan closing bell overtime today for eastern. cnbc. >> welcome back to squawk on the street the future. >> investment initiative. >> priority summit. >> kicking. >> off here today. >> in miami. >> of course fii ceo richard attias is here with me now. nice to have you. >> thank you for having me, david. >> bigger and. >> better than. >> last year. this year we've got. >> cameras along with me as well. >> gives us. >> an opportunity. >> to talk. i guess. let's start off with the president. >> he's going. >> to show. >> up here later. >> any expectations. >> in terms. >> of what. >> it. >> is that he's going to be focused on, or what. >> you think the attendees here. >> would want to hear? >> you know, he will spend. >> one hour with. >> us, which is, i think, a lot of time. he will deliver a speech, which i'm expecting to be on geo economics. it's a unique moment to speak in front of an audience of global ceos, investors, private equit