talking about the economy and maybe what the Fed's going to do. Uh we're going to talk about that, the markets, uh and everything else. Want to bring in David Servos.He is chief market strategist at Jeffre, a CNBC contributor. Uh good morning to you. We'll talk to Austin Goldby later.I'm curious what you thought of what you heard earlier this week from the Federal Reserve and uh what you think it portends and were you surprised that the equity markets actually moved up on the back of this news. You [clears ...

Why don't we start off with the action that we're seeing uh in the futures, a lot of it being driven by the Broadcom earnings. We had a guest earlier said it's another moment of doubt for the AI trade. Do you agree with that sentiment.And then how do you play this. We have so many moments of doubt even after strong reports. >> Yeah, there's a lot of moments of doubt and it's not just today.It's been over the last couple of weeks and I think that's why we've seen this kind of rethinking around the AI theme. ...

We've spent a lot of time talking about this, the potential impact on about 25 million Americans. However, you have a very contrarian take. You say it's going to impact a much lower number of Americans. Can you just explain your thesis and why you think it's going to be just a fraction of that 25 million genuinely affected.>> Yeah, look, at the end of the day, we've been talking about this for the first note we published was 772 days ago. So, long time conversation. When you look at the 25 million Americans ...

ETF Market Trends - ETF net inflows year-to-date are over 135% trillion [1] - Tracking moves above and below the 30-day moving averages for popular index funds SPY and Triple Q's [1] - Top inflows this week into the DGRW ETF (Wisdom Tree US Quality Dividend Growth Fund) [1][2] - Followed by VTI (Vanguard Total Stock Market Index) and IWD (iShares Russell 1000 Value ETF) [2] Investment Opportunities - ARKQ ETF (Autonomous Technology Robotics ETF) is a good pick for investors looking to broaden out from the MAG 7 [2] - Active management approach has demonstrated it can outperform, especially with beneficiaries beyond just chip companies [3] - ARKQ top holdings include Tesla, Pterodine, and Kratos Defense [3]

We've been talking a lot about the AI trade in recent weeks, some uh throwbacks to the dot area era when we're talking about circular funding and vendor financing. Right now, we're seeing this race in chat bots. Is there is there a plain language way to look at it. Is there some comparison that kind of applies to everyday life that we can look at it.Is it kind of similar to I've heard somebody talk about VHS and beta and the battle isn't over the tech. It's on who can just kind of take the mainstream aspect ...

Some questions about that order backlog at 73 billion. Also, Hawk Tan not giving a lot of clarity about the guidance moving forward in the near term, but you actually think that that according to your most recent note, you think that backlog number is very bullish for the company and you see more upside. Explain the thesis that you're seeing when a lot of other investors seem to be selling the stock.>> Sure. I I think if you look at the backlog that was through uh if you annualize it, that's basically almos ...

Crypto Regulation & Institutional Adoption - Crypto industry views regulatory clarity and lawmaker engagement with banks as a positive development [1] - The industry emphasizes that crypto is not about eliminating regulation, but adapting existing regulations to the current phase of innovation [3] - Institutions are compelled to develop digital asset strategies, driving the need for appropriate regulatory frameworks [3] Solana's Role & Use Cases - Solana is positioned as the infrastructure layer for blockchain technology, contrasting with Bitcoin's role as a digital asset [4][5][7] - Solana aims to be the fastest, cheapest, and most liquid financial infrastructure [6] - Solana's infrastructure enables the issuance of stablecoins and tokenized assets like commercial paper [8][9] Solana's Market Position & Future Outlook - Solana is reportedly the most used blockchain, exceeding the usage of the rest of the industry combined by a factor of 2 to 3 in 2025 [11] - Value creation for infrastructure blockchains like Solana is driven by usage, resulting in fee revenue that benefits token holders [12] Tokenization & Financial Innovation - Blockchain is viewed as financial infrastructure supporting various financial activities, including payments, savings, and investments [14] - Prediction markets are considered a new type of financial product enabled by blockchain [14] - Tokenization allows for the creation of "money legos" in DeFi, where positions can be used as collateral in other markets [15]

positive week overall, but this morning we're seeing the futures and of course the AI trade reacting to those Broadcom earnings. You call this another moment of doubt similar to Deep Seek much earlier this year and then also Oracle and some of the questions that we've seen about that company as an open AI proxy. If we're seeing so many moments of doubt, what does that say about sentiment for the AI trade going into the new year.Well, I think what we can see with AI and with the trade broadly is that of cour ...

AI Impact on Retail Strategy - AI shopping assistants are influencing shopper inspiration, shifting focus from traditional SEO strategies centered around Google to AI agents [2][3] - Retailers face the challenge of maintaining direct customer relationships through their websites and apps as shoppers increasingly turn to platforms like ChatGPT for product discovery [4] - The integration of AI in retail is still in early stages, with mixed consumer sentiment and varying degrees of success in implementation [6][8] - Some data indicates increased conversion rates and potential for billions in revenue driven by AI shopping tools during the holiday season [6] Retail Industry Adaptation - The retail industry is perceived as lagging in technology adoption, particularly in areas like inventory management and point-of-sale systems, posing a challenge for AI integration [7] - Companies are exploring strategies to optimize their product listings for AI search, akin to AI-driven SEO, by providing detailed product information and metadata [11][12] - Walmart has partnered with OpenAI to enable instant checkout through ChatGPT, while Amazon is taking a different approach by blocking chatbots from scraping its website [10] - Brands are creating detailed content, such as blogs, to improve their visibility and ranking in AI-driven search results, leading to increased search traffic from LLMs [13][14] Future Trends - There is potential for consumer feedback from platforms like Reddit to influence product rankings, potentially leading to a focus on quality and personalization [15] - The retail industry is entering a new phase with evolving rules and boundaries regarding AI, with the long-term impact on shoppers still uncertain [14][15]

CNBC’s Frank Holland speaks with Tom Staudt, President & COOO at Ark Investment Management, about the action in ETFs this week. ...