Joining us right now is New Bank's CEO David Veles. Good morning to you. Um, this really is a a big move for you guys and I I wonder whether it wonder what it portends um in in a larger way for where you're trying to go here.>> Thank you, Andrew. Well, this is really the continuation of the thesis that we've been executing for 12 years since the beginning of the company in Brazil in 2013. Our view is that financial services will go through the same transformation that all industries across the world have go ...

Joining us now, financial services committee chairman French Hill, Congressman, Mr. . Chairman, it's it's always good to have you on. Can you um >> Oh, look at this.>> Oh, wow. >> Save that tape. >> Bring and bring it in.It's not signed yet. >> I can't put it down. >> Oh my goodness.Thank you. Thank you, chairman. >> That's That's nice.Um the I was thinking about what AI mean. I was trying to figure it out actually where the concerns are. Uh I I imagine both sides of the aisle have different concerns about ...

All right, we got to start with futures. What do you make of futures turning negative. They were just very slightly higher earlier, but now pretty firmly in the red.>> Yeah, I mean it's not not much to make of it right now. I guess it's a little bit of it's ahead of the Fed meeting today and you know, I I don't really have any kind of don't have any expectation there and I think we're waiting to see. >> All right.Um, looking ahead today, does it matter to you as an investor if we get that hawkish pause that ...

All right. So, Rob, you have a 315 price target outperform rating. The street has it at 3 uh, excuse me, 336.So, you're a bit less bullish than your colleagues, but you still say that this is a buying opportunity. So, if you're less bullish, why do you still think this is a buying opportunity. What is exactly is the opportunity here.Well, I mean, first of all, Frank, the the the price targets are are hard to formulate right now because the numbers for free cash flow are so are so wildly variant and and that ...

the action on that meme ETF. We were actually talking about it as a as you know a group all of us how interesting it is that it launched. What do you think that says about retail investor interest and not only the meme trade but just risk in general.>> I think actually that the meme stock ETF is really intended to be a reflection of where retail investors are most interested in at any given point in time. And so what we're seeing is that the meme trade actually has come off significantly since we launched. ...

FOMC Decision & Market Angst - The options market is pricing in a 1% move on the S&P 500, which initially seems complacent, but is actually above average compared to the muted moves seen around recent FOMC announcements [1][2] - Market participants are showing more angst regarding this specific FOMC decision due to a record number of dissenting votes and the bond market pricing in only a 20-30% chance of a rate cut before June 2026 [2] - Investor angst is reflected in the VIX, which has increased in recent days [3] VIX & Volatility Play - A large trade involving over 52,000 contracts of the December 20 by 25 VIX call spread, costing $1.4 million (28 cents per contract), represents a bet that the VIX could reach 25% by December expiration [4] - This VIX trade could yield a net profit of nearly $25 million on a $1.4 million investment if the VIX reaches the target level [5] Dissenting Opinions & Market Impact - The market anticipates a potentially "hawkish cut" and changes to the FOMC, with data suggesting a 50% chance of three dissenters at the meeting [6][7] - Dissenting votes, reflected in the dot plot, are expected to have a greater impact on the broader market rather than the MAG7 stocks [8][9] - Small caps and value stocks are playing catch-up, while MAG7 stocks are lagging slightly, with concerns about the debt these companies are taking on to pursue AI initiatives [9][10] Financials & Rate Sensitivity - Financials, excluding JP Morgan's recent news, have generally performed well and are expected to be more sensitive to interest rates going forward [11] Oracle & Options Market - Oracle's stock pullback has led some investors to bet on an upside move if the company beats earnings expectations [12][13] - Nearly 2,000 contracts of the December 26 weekly expiration 225/240 call spread were traded at just under $5.50, representing a $1 million premium outlay with the potential to make 1.8% if Oracle is above $240 by the expiration date [13]

Market Outlook & Potential Risks - The market anticipates further stimulus, but a "hawkish cut" by the Federal Reserve, signaling a potential end to rate cuts, could disappoint investors and compress market gains [1][2] - Mega-cap stocks may not experience significant further gains, potentially leading to market consolidation [2][3] - A hawkish Fed message, indicating a pause until the next Fed president is in office (February), could benefit mid and small-cap stocks while the MAG7 stocks may underperform [4] - Historical trends suggest that after three consecutive years of 10% S&P returns, the median return is only 25%, raising concerns about potential consolidation or pullback [5] 2026 Forecast & Volatility - The firm's 2026 S&P price target is 7,150, representing approximately a 4% increase from the previous day's close [5] - Technical and fundamental analysis suggests higher volatility in 2026, with strength in the first half followed by a drawdown in the third quarter before midterm elections [8] - The firm anticipates mid-single-digit returns for 2026, requiring a recalibration of market expectations [8] - A potential 20% pullback is expected around Q2 or Q3, driven by midterm elections [9][10] - The potential loss of the House or Senate by the current administration could trigger the drawdown, while subsequent Fed cuts could catalyze a market recovery [10][11]

Welcome back to Squawkbox. Five things to know ahead of the opening bell. The price for Warner Brothers Discovery, it could head higher.Bloomberg now reporting that both Netflix and Paramount Sky Dance have signaled they have the ability to raise their bids for the media giant. Separately, longtime media investor Mario Gabell telling Bloomberg he'll likely tender his clients. Warner Brothers Discovery Shares to Paramount in an effort to spark a bidding war for Warner.Meanwhile, computer memory maker Nvidia ...

That's such a good picture, huge there. I don't know what you're doing. You're like secret agent man.Um, give you a number. Take away your name. Uh, with Walmart CEO Doug McMillan about to step down from the the head job at the retailer after more than a decade.Taking a look at the wealth of Walmart's first family. This is an interesting calculation to do. Robert Frank joins us now with more tomorrow or yesterday.We were just talking about in one man's life, Sam Walton to start that, you know, in Arkansas a ...

Uh joining us right now to talk more about the broader markets is Megan Shu. She is chief investment strategist at Wilmington Trust, also a CNBC contributor. And thank you for coming in this morning, Elizabeth.Megan, sorry, Elizabeth Shu. That's that's what's in my head, Megan. Thank you.[laughter] >> Um let's talk a little bit about where you see things with the Fed meeting today. I I know you're of the opinion that they should cut and you know this is a pretty difficult time for forecasting with what the ...