Let's get to Rick Santelli. Hey Rick. >> Hi Carl.Indeed. These are December preliminary S&P global PMIs. On the manufacturing front coming in light at 51.8%.Also sequentially lower than last month's final 52.2%. That would be the lowest read since this summer July. If we look at the services 52.9%.We're expecting 54 in the rearview mirror. 54.1%. 52.9% equals where we were in June.To find a lower number, you're going back to April of this year. And finally, on the composite, 53.9% expected. 53 is what arriv ...

It's Harbor Capital celebrating four of their ETFs. And at the NASDAQ, it's Newark, a commercial real estate advisor, Jim, as the NASDAQ sort of hustling with the 50-day lately. >> I think that theory is there.I would not say there was pretty badly the leakage continues. those who try to own any of the stocks associated with the big data boom are getting their head. What CEOs have told me now is not only that I have nothing to do with the data center you're here I'll buy that stock David what's happened is ...

All right. So, Kevin, we know that the president seemed to be uncomfortable with the way that he had to deal with J. Pal and J.Pal being listen, I'm very separate. I'm not I have to take any answers. I think the president's kind of a head coach and if you got that job, you're a player. Now, if the head coach says, listen, you're going to have to go this way and this way is to take rates down 200 basis points right now.Are you going to tell him, "Uh, no, coach, I'm not going to do that." You know, the bottom ...

Joining us this morning with some reaction. First from the White House is the National Economic Council Director Kevin Asset. Kevin, good morning.Good to have you. >> Great to be here. >> Uh, lot of information uh that the streets trying to absorb.How do you characterize both October and November. >> Yeah, I think it's best to sort of combine the two. And if you do that, then you're looking at private sector gains of about 120,000, maybe 121.And then uh we dropped about 160,000 government workers, federal g ...

Employment Data - Non-farm payrolls increased by 64,000 [1] - Average hourly earnings rose by 01% month-over-month and 35% year-over-year [1] Unemployment Rate - The unemployment rate increased to 46%, the highest since July 2021 [2] - The underemployment rate (U6) also reached 87%, a level last seen in July 2021 [2][3] - The average work week expanded to 343% [2] - Labor force participation expanded [3]

Market Trends & Analysis - The market's reaction to delayed jobs data indicates that education and health services are the primary drivers of employment [1] - There is a mismatch between available jobs and the skills of the workforce, specifically in sectors like construction [2] - The current job creation rate of 64,000 jobs for 340 million people is considered insufficient [3] Economic Policy & Outlook - A 1% interest rate is suggested as a potential solution to improve job growth [4] - The need for more creative solutions beyond simply lowering interest rates is emphasized [5]

Joining us now for more on the markets and jobs, Joe Mato, president CIO at Newberger Berman. Joe, great to have you with us. Good >> to be here.Thank you. >> Um, it's interesting to get the jobs report now after the Fed decision. How important is this for you.>> I think the data is really important. I think the state of the labor market is one of the critical issues in terms of determining what the Fed path is going to be. And, you know, our sense is you're going to continue to see a grinding, weaker labor ...

CBC team coverage uh this morning involves Steve Leeman as well as Rick Santelli. Rick Santelli, let's go to you. You're standing by at the CME.Let's get straight to the numbers. But Mike Santelli, by the way, is out the NY. But Rick, get the numbers, please.>> Yes. October and November for the big job job jobs report. The only thing is it's not Friday.Here we go. November's number comes in at 64,000. 64,000 on non-farm.And if we look at average hourly earnings, they are up onetenth up onetenth of a percent ...

Healthcare Policy & Reform - The Republican proposal aims to lower healthcare premiums for all Americans, contrasting with the Democratic focus on insurance company bailouts [2] - The "Lower Premiums Act" seeks to reduce healthcare costs through measures like association health plans and health savings accounts [2][3] - The proposal includes cost share reductions to lower premiums for individuals in Obamacare, potentially resulting in a 12% reduction [3][4] - A key goal is to create a more competitive marketplace for health insurance, offering consumers more choices and lower deductibles [5][6][7] Consumer Impact & Choice - The plan intends to provide options for individuals to buy different kinds of health insurance plans that better suit their needs, offering lower costs and better coverage [7] - The proposal aims to allow individuals to use employer funds allocated to high-cost plans to purchase lower-cost plans in the open market through health savings accounts [12] - The initiative seeks to establish a health insurance marketplace similar to those for car and homeowners insurance, enabling consumers to shop around for better deals [13] Market Dynamics & Competition - The current health insurance market lacks competition, limiting consumer choices and potentially leading to higher premiums [5][6] - Opening up the health insurance marketplace is expected to give people choices to get lower premiums [9]

AI IPOs and Venture Capital - The venture capital industry anticipates blockbuster IPOs from companies like SpaceX, Ramp, Anthropic, and OpenAI, potentially valued from 500 billion to over 1 trillion USD [2] - These IPOs are expected to release capital that has been invested without immediate returns, marking a crucial year for venture capital [3] Market Concentration and Bubbles - The economy exhibits significant concentration, mirroring trends in public markets where Nvidia's dominance is notable, and MAG7 stocks constitute over 30% of the S&P [4] - A substantial portion of private capital is directed towards large foundation models and frontier labs, representing a high percentage of venture capital investment in the last decade [5] - The key considerations for assessing a potential bubble include evaluating demand for AI buildout, the viability of infrastructure depreciation, and the reasonableness of multiples for companies concentrating capital [6] Large Language Models (LLMs) - LLMs may become commodities, similar to cloud storage, which is a business generating 10 to 30 billion USD in annual revenue with 30-40% year-over-year growth [9] - LLMs are specializing in specific areas, such as Anthropic focusing on coding and enterprise applications, OpenAI targeting consumer use cases and media, and Google pursuing a broader approach [10][11] Investment Opportunities - Public investors should consider the agentic app layer, as reasoning models developed over the past 18 months are enabling practical enterprise applications [13] - Opportunities exist in companies that are effectively replacing services with AI in sectors like insurance, law, healthcare, and commerce, potentially leading to margin expansion [14]