We start off with today's big reversal in JP Morgan shares plunging into the red midday after the company's consumer banking chief told investors that 2026 expenses will rise to $ 105 billion. That's more than 10% higher than this year, more than what analysts were forecasting. Those comments at the Goldman Sachs Financial Services Conference pulling down other bank names like Bank of America, Wells Fargo, and City.Our Leslie Picker is here on set with more on this. It was a big decline for those comments. ...

Um, so that scrutiny in terms of ROI on that span, same thing as what's going on in the mag 7, but in terms of the 5% decline practically in JP Morgan, I don't know if you thought that was surprising at all. >> I'm I'm surprised, but I I'm it's an opportunity. I mean, it it the question is really more the surprise as to why one bank responded differently than peers um and less high quality peers.Um, but you know, to me, as an investor and someone who said, I'm sure yesterday on this show, how excited I was ...

All right, well we are less than 24 hours until the last Fed decision of the year with traders pricing in a near 90% chance that the committee cuts interest rates by a quarter of a point tomorrow. For more on the market impact, let's bring in Fast Money Friend and Richard Bernstein Advisors deputy CIO Michael Canopoulos. Michael, great to see you. >> Nice to see you, too.>> Let's assume that there is a cut. What is the commentary going to be like coming out of that cut. >> I think it's going to be hawkish.u ...

And the market is saying it's a 90% chance we get a rate cut at tomorrow's Fed meeting. But what kind. We'll have to listen closely to Chair Powell's comments for clues on the future cuts and the balance sheet.Joining us now is fast money trader guy Adami, co-founder of Risk Reversal Media. Guy, good to see you. What are you listening for from Powell.Assuming I mean 90% hey that we get the cut. >> Well, it's amazing and thank you. Hello Morgan. Hello John.Thanks for having me as always. It's amazing that at ...

But joining us now is Ben Silverman from Propagate Content. And Ben, it's always great to have you on the show. So I'm going to start right there.How do you see this deal. >> Well, I think there's some parallels to the Fox sale to Disney and then the Sky sale to Comcast and the way that two biders are looking at the asset in different ways. I do think there's a lot of value that Netflix can extract out of Warner Brothers, well beyond the scale they're going to add to their already amazing offering at Netfli ...

Let's bring in more insight from Strategy CEO Patrick Morhead. Pat, these chips are a couple years old, a generation two depending on whether you're counting uh what's about to to come out or not. I is this about securing Nvidia and American technology space uh place in the the global AI ecosystem or does it perhaps end up accelerating China.So, John, I've been uh pretty clear on this and consistent. Uh we need to sell as much technology that cannot create the best frontier models out there. We need to expo ...

But one of our next guests sees the S&P 500 falling next year with a target of 6,500. Joining us now, Steve Sausnik, chief strategist at Interactive Brokers and Bridge Corana, Wellington Management, fixed income portfolio manager. Great to have you both here on set.We have a full house. Um Steve, I'm going to start right there with you because you are a bit at a consensus here with what you expect for stocks next year. How much of this does hinge on what we are seeing right now in the bond market and as we ...

John G Vernova kicking off its investor day by revising its financial targets to the upside, announcing a bigger dividend and increasing its share buyback to 10 billion from six billion. First to the forecast, 2025 revenue guidance trending higher and even looking to 2028. The company's projecting margins of 20% which is up from the prior target of 14% and higher than Wall Street consensus as demand continues to rise for gas power and company.company says that it did sign 18 gawatts of gas turbine contracts ...

Vista Equity Partners, head of equity capital markets. Back with me at Post9. It's been a minute. It's nice to see you again. >> Yeah, great to see you too.>> So, if software is like everything when it comes to this whole AI story, why the lagging of the market this year. What's going on. >> Look, I think 2025 was definitely the year of predictable volatility we talked about and we wanted to see proof points of software really taking on AI and becoming that AI adopter that we've talked about.And the reality ...

All right, Keith Learner, set us up here. We got the Fed decision. We got some key earnings as we as we know.How you think. >> Yeah. Well, I think Mike summed it up well.I think I wouldn't be, you know, overly focused just on tomorrow, even though there could be a knee-jerk reaction. The important thing is historically when the Fed cuts rates and markets are near all-time highs, a year later, the market has been up about 93% of the time. Go back to the mid 90s, 97 98, the Fed stayed on hold at 550.for over ...