Joining us right now is Kelly Leler, administrator of the Small Business Administration. And thank you so much for being here today, ad administrator. Let's talk a little bit about first what you're seeing in terms of the health of small businesses at this moment.>> Well, good morning, Becky. Great to be with y'all. Look, small businesses are more optimistic than they've been in seven years, according to the data.In fact, small business confidence is above its 52-year average even after a protracted 43-day ...

Amazon Prime Video Strategy - Amazon is investing heavily in sports to enhance the value of Prime membership, aiming to make it the best membership program globally [7][8] - The strategy involves securing top-tier sports rights in different countries, such as NFL, NBA, and NASCAR in the US, Champions League Soccer in Europe, and NHL in Canada [6][7] - Amazon is expanding its sports offerings globally, including broadcasting an NFL game internationally for the first time, to grow its international fan base [13][14] Black Friday Sports Programming - Amazon is offering 15 hours of live sports programming on Black Friday, accessible for free to all Amazon customers [2] - The programming includes the Capitol Skins game, an NFL matchup between the Eagles and the Bears, an NBA Cup elimination game between the Knicks and the Bucks, and a game between the Lakers and the Mavericks [3][4] - Black Friday deals are available throughout the games, allowing customers to shop directly from their couches [5] Advertising and Profitability - Advertisers are responding positively to Amazon's sports and entertainment offerings on Prime Video, due to the ability to offer full-funnel advertising and close the loop to purchase [9] - Advertising for Black Friday on Prime Video is up 40% year-over-year [11] - Amazon does not disclose the profitability of Prime Video separately but indicates satisfaction with its financial trajectory, justifying continued investment in sports and entertainment [11][12]

All right, welcome back everybody. Black Friday is in full swing this morning and our next guest is powering many of those sales. Harley Finkelstein is the president of Shopify.And Harley, thank you for coming in today. >> Great to be here. >> You've got data that is not just up to the hour, but up to the almost minute.>> We do. Yeah, we have we have uh minute minutes to minute data. Right now, as we talked about, we have about 12% of all US e-commerce on Shopify.Obviously, most people think that we support ...

Fed Policy & Market Reaction - The market reacted strongly to comments from a Fed president, interpreting them as a signal of a potential shift in monetary policy [2] - The market's interpretation puts the Fed in a difficult position, risking market disappointment if it doesn't follow through [4] - A former Fed vice chair expresses concern that one speech significantly altered market expectations [3] Inflation Concerns - Inflation has been running significantly above the 2% target, around 2.9% to 3% [5] - There's a risk that the market may perceive the Fed's actual inflation target to be higher than 2%, potentially around 2.5% to 3% [8] - Maintaining short-term credibility regarding inflation should be a priority [8] - In the absence of clear inflation data, caution is advised to avoid difficulty in controlling inflation later [9] Monetary Policy Stance - A former Fed vice chair aligns with those advocating for a more cautious approach regarding potential policy easing in December [6] - The argument for needing monetary policy assistance due to a weak labor market is not considered strong [6] - Delaying a meeting to wait for more data is not recommended, as it could create uncertainty and questions about the meeting schedule [10][11][12]

Market Trends & Outlook - The luxury sector is experiencing a split, with ultra-luxury performing well while middle and bottom tiers decline [4][5] - The aspirational luxury buyer has largely disappeared, impacting soft luxury goods like leather goods, handbags, shoes, and clothing [5][6] - The luxury sector is expected to be globally flat in 2025, with potential for only slight growth [3] - There are 50 million fewer luxury consumers than two years ago [4] Pricing & Consumer Behavior - Doubling or tripling prices of luxury goods without noticeable improvements has negatively impacted sales [9] - Consumers are struggling to reconcile the high prices of luxury goods with their perceived value [14] - Younger generations are increasingly prioritizing experiences over conspicuous consumption and status goods [12] Company Strategy & Adaptation - Luxury companies, particularly those focused on logos, may face challenges [11] - Hard luxury goods companies are exploring experiential retail to adapt to changing consumer preferences [12][13] - Luxury companies need to revert to their original focus on providing exceptional in-store experiences [13][14]

Let's talk first of all, Bill, to you about the global state of macro right now and just what it means for the Fed, central banks writ large and interest rate policy. >> Well, Dom, I don't think there's any debate at all that the Fed is going to be easing. The real debate is how fast is it going to ease and when is it going to start the next phase of easing.uh and the December uncertainty is there because the more hawkish members of the FOMC are are clinging to the notion that well we don't have a lot of da ...

This is an interesting kind of situation developing right now because we've talked so much and the economic problems are real. There's no doubt about it and the estimates have been all over the spectrum with regard to just what people are going to spend or even cut back on. What do you see.>> Well, Don, the holiday season is here and price is the battleground. So what we're seeing is that affordability is the main theme as you said and this is because retailers are dealing with a highly discerning consumer ...

Market Outlook - Modest market strength is expected for the remainder of 2025, but caution is advised for 2026 regarding portfolio risk [1] - ETFs are pointing towards fractional gains at the opening bell [1] Investment Strategy - Focus on quality stocks, particularly those in consumer staples, healthcare, and select industrials, as lower quality companies have outperformed this year [2] - Companies with increasing dividends over the long run are considered a good investment [4] - Quality companies are defined as growing, profitable, and well-capitalized with reasonable multiples [3] Stock Recommendation - IBM is suggested as a potentially cheaper alternative to data center companies with a rising dividend and strong balance sheet [5] - IBM's server side of the business is expected to grow at 6% to 7%, with accelerating software growth and expanding margins [6]

I wonder Gina, from a market participants perspective, how does this influence how you will approach today, trading or otherwise. >> Well, you've given us a range that goes from nothing to a lot. So, uh it's a it's a pretty wide range, but look, our 2026 road map um does assume that we continue to see significant capex spending into the infrastructure of AI.Um and we do think that that continues to support uh the kind of let's call it the picks and shovels uh of that uh ecosystem which includes Nvidia, it i ...

Joining us now is an analyst who covers the sector, Ryan Lavine, city senior senior utilities analyst. Ryan, thanks for joining us this morning. >> Thanks for having me.>> So, how does this work. This huge increase in electricity demand from data centers. Is that primarily what's driving up electricity costs.>> So, electricity prices are up about 23% over the last 5 years, and it's due to a variety of reasons. Yes, data centers have impacted some of the Northeast and Mid-Atlantic utilities due to unique reg ...