Stock Recommendations - Novo Nordisk is not a good final trade [1] - Freeport Macaran (copper) is a name to take a look at [1] - Boeing is expected to have another 20% upside [1] - Hershey company is mentioned with potential for a trade [2] Market Commentary - The discussion involves trading and market observations [1][2] - Participants mention being on the "squawk box" [2]

Shares of Nike down nearly 13% since it gave disappointing guidance during its earnings call last Thursday. The stock has lost almost a quarter of its value this year, but Oppenheimer ranks the athletic wear maker a top play for 2026 and its $120 price target is the highest on the street. This according to Faxet.Oenheimer senior analyst Brian Nagel is behind that call. He joins us now. Brian, great to see you. >> Nice to see you, too.>> What did you hear on the earnings call that makes you think that it's t ...

for more in its first ever GLP1 pill. Guggenheim partner Sheamus Fernandez joins us now. He is the firm's managing director and pharma analyst.Sheamus, great to have you with us. >> Nice to see you. >> Does this change the competitive landscape at all with Eli Liy's or four coming on um and and some other competitors coming, you know, down the pike.>> It's a great question. I mean, I think it doesn't necessarily change the competitive landscape that dramatically. Um but it does give Novo an opportunity to g ...

Market Outlook & Investment Strategy - A weaker dollar generally supports buying assets in foreign currencies, with some expected to outperform others [1] - Emerging markets are typically sensitive to Fed rate hikes; a weaker Fed and benign rate outlook create a favorable environment for growth countries [1][2] - The industry anticipates Europe to deliver surprising EPS (Earnings Per Share) growth [2] - The industry suggests focusing on developed markets, with a mix of 75% developed and 25% emerging markets for investment [5] - The industry believes there's no need to take excessive risk to find strong growth and superior dividend growth opportunities [6] Specific Company & Sector Recommendations - European money center banks and European staples like Imperial and British tobaccos are highlighted as potential investments [2] - Siemens is favored, including for the data center trade [3] - ASML is favored due to strong order book [3][4] - Taiwan Semiconductor is considered a crucial semiconductor company [4][5] Macroeconomic Factors - Above-trend growth coupled with benign Fed dynamics creates a positive backdrop [5] - A 4.3% growth print indicates a strong economic environment [2]

For more, let's bring in Joe Leavia, counselor to the secretary of the Treasury Department. Joe, great to have you with us. Would you do you agree with that sentiment.>> I do. I mean, the thing is the GDP numbers, which we could get into, were fantastic, was all private sector led, but what struck me, Melissa, is the profound weakness in the interests sectors of the economy such as structures and residential. Structures, which are factories, by the way, they'll get a huge lift with the tax bill.uh 2026 shou ...

So, does today set the stage for more records as we look to close out 2025. Guy, nice to uh have a record close here in the final days. >> You said you said ho ho.>> I did. Yeah. >> Yeah.Well, it appears that certain listen. So, today we have no half day tomorrow, right. We have a full day, I think, on Friday.>> Next week is the same type of week. It's hardressed unless some piece of news comes out where the market's just not going to continue to levitate. The old saying is don't short a dull market and tha ...

Our next guest joins us with his 2026 outlook. JP Morgan senior analyst Steve Tusa. Steve, thanks for being here today.Um, help us break down this sector because I think it was maybe one of the more surprising winners of the year. Where within industrials do you see the most opportunity right now. >> Yeah, thanks for having me.Uh, first of all, great to see Jake Morgan making new highs. But putting that aside, um, put putting that aside, this year was kind of like a tale of two halves where it was, um, a lo ...

Housing Market Sentiment and Affordability - Homebuilder sentiment remains negative despite a slight increase this month [1] - The Trump administration plans to release affordable housing plans in the new year [1] - Zelman highlights the complexity of housing affordability, emphasizing collaborative discussions between the administration and the industry [3] - Bottlenecks and inflation at the local municipality level (impact fees, approval delays) pose a significant challenge to improving housing affordability [4] - Federal government intervention in local politics is needed to make a substantial impact on housing affordability [4] Interest Rates and Monetary Policy - The Federal Reserve controls short-term interest rates, while 30-year mortgage rates are tied to the 10-year Treasury yield [5] - Several Fed rate cuts have not resulted in a corresponding decrease in 30-year mortgage rates [5] - Potential measures to improve rates include adjusting loan level pricing adjustments (LLPAs) and the Fed buying mortgage-backed securities (MBS) [6] - A significant reduction in mortgage rates in 2026 is unlikely [6] Tariffs and Construction Costs - Initial concerns that tariffs would increase home production costs by $5,000 to $10,000 per door have not materialized for large public builders [8] - Large public builders have used their size and scale to push back on trades, manufacturers, and suppliers, absorbing tariff costs [9] - New home prices have declined this year due to incentives like mortgage rate buydowns [10] - Reversing tariffs may benefit suppliers and manufacturers more than consumers [10]

Joining me now is Dr. . Ashish Ja. He is the outgoing dean of the school of public health at Brown University and the former White House CO 19 response coordinator.Uh doctor, thank you for joining us today. So what do you see just if we can take a step back here is the total addressable market for a pill of GLP1 how big ultimately do you think this could be. >> Yeah.So first of all, thanks for having me back. I think this is a big deal and let me explain why. I mean more than 100 million Americans have obes ...

Another positive day on Wall Street as AI stocks continue to push the market higher and S&P 500 closing at a record. But our next guest sees opportunities beyond the mag 7 in 2026. He joins us with names that should be on your radar.Let's bring in new construct CEO David Trainer. Uh David, so maybe we just get right to it. Where do you see opportunity outside of the Mag 7.And is it a safe bet to kind of diversify outside uh in a bigger way in 2026 just given the returns we've seen from some of these names o ...