President Trump uh is continuing his pressure campaign uh on Venezuelan President Nicholas Maduro's government. Heritage Foundation National Security and Foreign Policy Vice President Victoria Coats uh is with us this morning. She served in the first Trump administration as deputy national security adviser. And welcome Victoria. It's good good to see you. I saw the president talking yesterday and I I just thought it was funny, not funny, but interesting the way he said, "Look, a lot of a lot of past preside ...

All right. So, you're looking at the IIGJA, that big infrastructure bill. You say it was about 300 billion.About 170 has been spent and under 130 to grow. And you say that's tanamount to really a big tailwind for the material sector. >> Yeah.You know, and and what I'd say, Frank, is I look at it in three buckets. So, the public, you're right. It is we've got an incredibly positive outlook.Even though the bill expires in September, only 50% of the dollars have even been spent. Another really big bucket to wa ...

Safety Concerns & Regulatory Impact - National Highway Traffic Safety Administration 收到了关于 Tesla 安全问题的投诉，引发了对 Tesla 车辆安全标准的关注 [1][2] - 尽管存在安全问题，但 Tesla 车辆在 Nitsa 和 Euro NCAP 的安全评级中一直表现出色 [2] - SpaceX 的碎片问题可能影响监管机构对 Tesla 机器人出租车业务安全性的看法 [10][11] Robo Taxi & Autonomous Driving - 行业对机器人出租车市场前景持乐观态度，预计其安全性将超过人类驾驶 [4][5] - Tesla 希望在奥斯汀推出无人驾驶机器人出租车服务，并计划在全国范围内扩展 [3] - 行业认为不应只关注当下的事故或安全问题，而应关注机器人出租车的整体安全状况，因为从长远来看，它们将比人类驾驶更安全 [13] Sales & Market Dynamics - Elon Musk 的政治立场可能在 2025 年第一、二季度对 Tesla 的销量产生影响 [7][8] - 美国电动汽车补贴的结束对销量产生了一定影响，预计第四季度销量将从 40 多万辆降至 42.7 万辆，但预计 2026 年和 2027 年销量将反弹 [8][9] - 美国电动汽车市场竞争减少，对 Tesla 和 Rivian 等垂直整合公司有利 [9]

Gold Market Analysis - Gold is on pace for its best year since the 1970s, reminiscent of the years after abandoning the gold standard [1] - Central banks are moving out of dollar assets and into gold, hedging against economic uncertainty, trade wars, and geopolitical tensions [2] - Investors are starting to catch up to the gold trade, with flows entering into physical gold [3] - Geopolitical uncertainty and potential interest rate declines are expected to persist through 2026, driving gold prices higher [5] - Western investors have recently started moving into physical gold, suggesting further potential for growth [6] Silver Market Analysis - Silver is viewed as a complement to gold, typically rallying after gold's initial move [7] - Silver is increasingly recognized as an industrial metal, with growing industrial applications [7][8] - Investors are starting to allocate to silver, potentially due to gold's strong performance [9] - Silver miners offer more leverage than holding the physical commodity, but also carry execution risk [9][10] - Many silver miners have all-in sustaining costs below $15 per ounce [11] - Silver is often mined as a byproduct, making pure-play silver miners an area of investor focus [12] Copper Market Analysis - Copper is up approximately 35-37% year-to-date [13] - The copper market is evolving beyond its traditional ties to global economic health [14] - The energy transition, with nearly $2 trillion of investment last year, is providing underlying support for copper demand [14] - Increased electrification, artificial intelligence, and data center buildout are adding to copper demand [15] - Constrained supply and disruptions in the copper industry are likely to push the market into a deficit this year and in the medium to long term [16]

Market Trends & Investment Strategy - Investors are not afraid of risk and are buying risk in the later stage of the bull market [1][2] - Investors are focusing on growth around the secular AI story and cyclicals due to leverage to the real economy [2] - Equity markets have priced in over 10% compound annual growth in earnings for the S&P 500, leading to a more balanced upside and downside [4] - Risk is expected in 2026, with symmetrical downside days expected after big upside days, but still with a tilt to the upside [5] - Sentiment is high, and without new news, markets tend to grind higher, but any negative news could cause choppiness [10][11] Company Focus & Performance - Boston Scientific (a medtech company) is a way to balance the AI-related tech exposure [6] - Boston Scientific is expected to expand gross margins by 0.5%, net margins by 1%, and improve efficiency [7] - Boston Scientific is getting great incremental cash returns on its capital expenditure (capex) and research & development (R&D) investments [8] Short-Term Outlook - It's uncertain whether the Santa Claus rally will occur [10][11]

STRATEGIST AT THE CARSON GROUP RYAN GOOD MORNING. GOOD TO SEE YOU. >> GOOD MORNING FRANK I FORGOT TO GET THE MEMO TO WEAR SOME GREEN TODAY.BUT LOOKING GOOD FRANK. THANKS. >> WELL, THANK YOU VERY MUCH.I'M TRYING TO BE IN THE HOLIDAY SPIRIT. SPEAKING OF THE HOLIDAY SPIRIT, I FOLLOW YOU ON SOCIAL MEDIA. RYAN, YOU WERE POSTING ABOUT THE FACT THAT WE DIDN'T GET A SANTA CLAUS RALLY THE LAST TWO YEARS, BUT WE'VE NEVER MISSED THREE IN A ROW.YOU'RE ALMOST SOUNDS LIKE YOU'RE ALMOST GUARANTEEING A SANTA RALLY THIS YEA ...

IPO Market Trends - The IPO market may see significant changes in 2026, potentially prompting major AI players to go public [1] - Private AI companies like OpenAI and Anthropic may need to consider IPOs due to increasing capital expenditure demands [2] - By 2030, data centers supporting AI processing are projected to require over $5 trillion in capex [2] Financial Considerations - Public equity provides lenders with real-time valuation certainty, enabling companies to take on more debt at lower costs [4] - Suppliers and partners require long-term financing durability, often through 10 to 15-year contracts, favoring public companies [4] - If OpenAI, valued at $1 trillion, floated 10% of its shares, it would exceed the total amount raised by all 340 IPOs in the US this year [5] Private vs Public Markets - There's been a decrease in the availability of public shares over the past 20 years [5] - Washington has been exploring ways to allow retail and high-net-worth investors access to private companies before they go public [6] - Democratizing private markets aims to give individual investors access to company growth phases [6]

Market Outlook - Freedom Capital Markets anticipates the bull run to continue, but at a slower pace of 3% to 5% from current levels, targeting the S&P return into the 7200s [4][7][8] - The market broadening will persist, with technology experiencing a divergence between winners and losers, potentially impacting the performance of mega-cap stocks [5][6] - Midterm election years typically introduce market volatility, but gridlock could create favorable conditions for 2027 [7] Sector Analysis - Financials and industrials are favored sectors, with specific interest in big banks like JP Morgan and Goldman Sachs, and Citigroup due to strategic changes implemented by Jane Frasier [9][10] - Transports are expected to lead, indicating slow, steady economic growth, with FedEx, UPS, and trucking companies showing strength [8][11][12] Potential Risks and Uncertainties - The Scottish ruling on tariffs poses a risk, potentially leading to uncertainty and market trepidation if tariffs are deemed illegal [16][17] - The transition to a new Fed chair and the increased visibility of voting members could introduce volatility into the market [18][19] Financial Sector Dynamics - Financials have performed well despite low consumer confidence, driven by strong earnings and M&A/IPO activity [14][15] - A pullback in financials could present a buying opportunity, as the sector tends to move in cycles [15]

Company Overview & Strategy - Frida started with the "nose Frida" (snot sucker) and expanded to over 150 products in infant health, wellness, and feminine care [1][6] - The company's strategy involves truth-telling and authenticity, marketing based on the realities of parenthood rather than Instagram perfection [17] - Frida's product line expansion has been driven by the founder's personal experiences as a mother, addressing unmet needs and taboo topics in parenthood [25][26] - Approximately 60% of Frida's product line is regulated by the FDA, adding complexity to the business model [32] Entrepreneurship & Leadership - The CEO, Chelsea Hirshhorn, transitioned from a career as a bankruptcy attorney and lawyer for the Miami Marlins to entrepreneurship [1][8] - Hirshhorn initially risk-averse, was encouraged by her husband to buy the "nose Frida" business [9][10] - Frida bootstrapped its growth without venture capital, prioritizing a measured pace over rapid expansion [34][35] - The company values patient capital and partnerships, focusing on building upon existing strengths rather than quickly disrupting [37][38] - The CEO describes her leadership style as empathic and transparent, evolving with her personal stage of life [42] Marketing & Challenges - Frida faced challenges with advertising censorship, particularly regarding women's health products, and leveraged these rejections into marketing opportunities [18][19][21] - A commercial rejected by the Oscars, showing a postpartum woman, gained 8 million views on YouTube after being framed as an educational effort [22][23][24] - The company innovated the mother care category, despite the lack of existing retail data to support the investment [67] Personal & Professional Integration - The CEO integrates her personal and professional life, planning both meticulously and setting goals annually with her husband [49][57] - Frida offers weekly manicures and haircuts for the team, reflecting a commitment to minimizing trade-offs for working parents [45][46] - The CEO's husband joined the company as a partner, overseeing brand marketing and sales [50][52]

Overview - CNBC offers Jim Cramer's investment guidance to help viewers make money by navigating Wall Street's opportunities and pitfalls [1] - CNBC provides access to live and exclusive video content through CNBC PRO [1] Content & Platform - CNBC encourages viewers to subscribe to CNBC TV and CNBC for business news and analysis [1] - CNBC provides access to its content on the go with CNBC+ [1] - CNBC delivers the latest stock market news and analysis, including market futures and live price updates [1] Online Presence - CNBC encourages viewers to connect with CNBC News online through various platforms [1] - CNBC lists links to its presence on LinkedIn, Instagram, Facebook, Threads, X (formerly Twitter), and WhatsApp [1]