hi, everyone. good monday morning. welcome to "worldwide exchange." i'm susan li. >> i'm wilford frost. here are your headlines from around the world. u.s. president barack obama uses a rare speech from the oval office to vow to hunt down terrorists and protect america from a new phase of threats. >> i know that after so much war many americans are asking whether we are confronted by a cancer that has no immediate cure. off the table, electrolux shares sink after general electric terminates a $3.3 billion deal to sell its appliance business costing the swedish firm $175 million in

break fees. there is an uneasy calm in financial markets. that's the warning from the bank of international settlements. b.i.s. which says that a fed rate hike could trigger renewed panic in emerging markets. getting the icahn service. the billionaire investor takes a 12 billion stake in service retailer pep boys sending shares higher after hours. good morning, i'm carolyn roth. coming up on the show, nothing ventured, nothing gained. google's head of venture capital says tech startups are waiting too long to go public. sweeping changes in venezuela. we assess the implications of a new government after nearly two decades of socialist rule come to an end. and can climate talks in paris propel us towards a

greener future. the ceo of vestas speaks to us later in the show. here we are kicking off new trading week. off the 2% rally that we saw on friday. it's the biggest number that we've seen. the implied open looks like we are above fair value. looks like the rally continues today. industrials up 14 points. nasdaq higher by close to 10. the s&p looks like we are gaining 4 points or so. now let's quickly check in on european benchmarks and continuing to i guess follow through on the big advance we saw on friday thanks to the non-farm payrolls for the month of november. pretty much seals it when it comes to the 15th and 16th, december, yeah, federal reserve meeting. let's check in on the ftse. seen gains and the cac 40 and

the german dax advancing by 2 and the ftse 100 also climbing. let's talk about m&a. right now we have shares of electrolux trading lower, and this is after general electric, ge, terminated its agreement to sell its appliance business to the swedish firm. electrolux saying that it regrets this decision to scrap a $3.3 billion deal. the u.s. departments of justice, meantime, has been investigating this proposed deal since july. they have actually rejected the efforts made to gain a ruble. electrolux, well, they say they will have to pay ge regardless a breakup fee of $175 million with the swedish company warning that fourth quarter earnings could actually be impacted. so carolyn and will, i guess they had some concerns about this tieup since -- if electrolux did buy the ge business they would be selling two out of three ranges in the united states. >> big set back for electrolux.

one of the reasons they wanted to go into the u.s. market is they wanted to double their presence there. it would have actually doubled their footprint there. so, again, big, big blow for electrolux. they also wanted to lower their dependence on the european market which is growing a lot slower than what we're seeing in the u.s. markets. so analysts have been very quick to point out this morning that we need new avenues of growth for electrolux. they need to be able to grow their margins through another avenue. >> yeah, electrolux ceo keith mclaughlin, he's come out to say that the group's operation in north america proved to be stronger, and that is true. this is such a small base. this would have given them a big boost. i think what's a surprise is that most people thought this would be approved. yes, it was a merger of the second and third biggest players in the space, but given that ge was keen to get rid of it before the competition would allow it. obviously share price reaction today down 12.26% but it had

risen 50% over the last two years. we're still up 13% over the last two years. >> they say that they will continue to manage this business going forward but they are actively looking for a buyer to buy the appliance business. we were talking about this, weren't we, carolyn? it doesn't have to be a european buyer. >> it doesn't have to be a european buyer. it could be a chinese buyer coming in. again, my question would be what is the d.o.j. going to say then? if they're so concerned about the antitrust issues then, what sort of a buyer will it have to be to allay those firms? >> i think it's the electrolux name because they sell so many appliances in the u.s. market. >> it must be a really small player then, someone who wouldn't have that much market share. >> by the way, ge gets a breakup fee. >> even though they called off the deal. isn't that interesting? >> on instructions from the u.s. anyway, let's move on. president obama vows that they will open up a new phase of terrorism that threatens to

poison the minds of people around the world. in a rare address from the oval office on sunday night, the president says it's clear the two shooters that killed 14 people in california last week were radicalized. there's no evidence they were directed by a terror group overseas. he said the u.s. muslim community needs to be a partner in the fight against extremists and the west is not in a fight against islam. >> our success won't depend on tough talk or abandoning our values or giving in to fear. that's what groups like isol are hoping for. instead, we will prevail by being strong and smart, resilient and relentless, and by drawing upon every aspect of american power. >> president obama is calling on congress to make it harder for mass shooters to buy guns. he says the u.s. and allies are stepping up the work for the financing. the president is urging silicon valley. british security services

are treating a stabbing incident in east london as a terror attack. two people were injured after a knife wielding man attacked and threatened a number of onlookers. witnesses reported hearing the assailant cry out, this is for syria. the attack occurred days after the commenced airstrikes against isis and syria. local police with tasers subdued the attacker who has been named as mohayden meyer. marie le pen is giving a press conference in france. once we have more information on what she's saying, we'll give you the highlights. her party took 30% of the overall vote. so clearly terrorism in europe, at least, has had a really big impact on politics. it will also make a dent in terms of u.s. politics and the presidential race. we have marco rubio coming out over the weekend. he says there is a growing sense

that the president's completely overwhelmed by the terrorist threats and you would expect a lot more response to come from other public contenders. >> i think absolutely right. the fact that obama did this speech from the oval office was clearly attempted to be a statement of intent, a statement of credibility on his part. this is only the third speech he's done in eight years from the oval office though many people, susan, somewhat underwhelmed by the content of it. >> yeah. you wouldn't be surprised that a lot from the republicans criticizing obama. paul ryan, the house speaker, saying this is a spin on the current strategy. there's nothing new being offered. but, you know, i guess also he's trying to prime and assure the american public that a democratic office and a democratic administration will deal with the terrorist threats in the u.s. >> how can you deal with that if its lone wolfs were acting independently, how can you send across the message that, look,

guys, american people, we've got this under control? >> i think he's also trying to say he needs help as well from congress. vote through some of these -- some of these measures to clamp down on a visa program that one of these attackers in san bernardino got through the gates with and help me with gun control. why should people on this no fly terrorism list be able to access semi-automatic weapons? >> i think in the president's defense there's a sense with which leaders don't want to sensationalize what's happening unnecessarily. i think the incidents in london over the weekend as well. you don't want to jump to too big conclusions and start to grandstand events and give isis, therefore, the credibility and applause that they are seeking. they're seeking this significant stage to announce what they're doing. that is something that cameron and obama and everyone has to balance when they give these types of addresses. guys, we're going to quickly take a break here on "worldwide

exchange." still to come, politics and the venezuelan election results has brought an end to two decades of socialist rule but will the markets applaud it? we'll try to examine right after the short break.

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threat. president obama uses a rare oval office speech to denounce the attack in san bernardino. no deal. ge terminates the $3.3 billion deal to sell to electrolux and the head of google venture says some of the biggest startups are waiting too long to go public. venezuela has voted in a new government. the country's position which is made up of centrist and conservative party has won a majority from venezuela's congress. the incumbent socialist party has been ousted after two decades in power. it follows a deep recession in the country and a collapse in the venezuelan currency. so let's talk through this. joining us dave delmoya, latin american analyst. great to have you on the program. some say this economy, it was not in recession, it was in virtual depression for many,

many years. even with the new administration coming in, isn't it too little too late? >> i think the key thing is that your position having secured a majority in the national assembly is a game changer in venezuela. it changes the way for the possibility of the position, eventually taking control. this has characterized the administration and the 15 years by an intervention and a burden and a lot of price and foreign exchange control which certainly have detriment effect on the recent embargo. >> venezuela the worst performing economy in the world. rampant inflation of 200% where people can't get access to toilet paper. what can this new administration really do to fix it?

>> yes. well, the political change which is happening in venezuela at the moment is a new national assignment so the incumbent administration will remain in place until there are new presidential elections or if the opposition as it's being directed authorizes a referendum or calls for a national constituent assembly to draft a new constitution and renew power in venezuela. what we expect now is possibly policy paralysis. obviously the current administration of maduro does not have the political capital to conduct a comprehensive program of economic reforms in the scale needed, meaning it's in foreign exchange, price controls and the opposition

while having a majority in the national assembly probably will not see the legislation that they managed to pass to limit their interventions role of the state in the economy implemented. that's the key. but certainly it's a game changer. the opposition has become a key power broker in venezuela and that is going to create a very, very interesting dynamic and certainly increases the prospects of the administration ruling this country which holds the largest oil reserves, largest proven oil reserves in the world. >> very much depend on crude for 96% of their export revenues obviously. but what i think is really interesting, diego, is the fact that we're seeing several, not just one election, swinging to

the center or to the right across latin america. argentina, that's a good example. are these two isolated events or is there a bigger change? >> there's a bigger change. we saw the end of the commodities boom cycle and certainly it's -- it's the beginning of the end of these nationalist populist coalition which has failed to deliver economic growth and have introduced basically social policies which obviously are not sustainable and the current commodity prices. in the case of venezuela, they have used social programs which obviously are not sustainable and the current oil prices. so the case of argentina, we're starting to see movement in brazil. obviously in venezuela they're following more pragmatism and

certainly less nationalistic, less, you know, interventionist role of this day in the economy. venezuela has a high level burden and basically -- yeah. >> sure. diego, thank you very much for your time. still to come on the program, president obama addressing the u.s. nation for only the third time in his presidency from the oval office. we'll cross over to d.c. for the latest.

welcome back to the show. in a rare speech from the oval office on sunday evening, president obama sought to reassure americans that the country is able to overcome the evolving threat posed by terrorism. >> as we've become better at preventing complex, multi-faceted attacks like 9/11, terrorists turn to less complicated acts of violence like the mass shootings that are all too uncommon in our society. it was this type of attack that we saw at fort hood in 2009, in chattanooga earlier this year and now in san bernardino. and as groups like isol grew stronger amid the chaos in war in syria, and as the internet erases the distance between

countries, we see growing efforts by terrorists to poison the minds of people like the boston marathon bombers and the san bernardino killers. >> so what's the reaction been to president obama's address? nbc's tracie potts has the story? >> reporter: half hearted according to paul ryan here. republicans said what the president outlined is nothing new. it's the same old strategy that they insist is not working. president obama did admit, as you heard there, that the threat is evolving and it's real and that his military commanders and the u.s. government is evolving as well to deal with that challenge. he outlined a strategy that we've heard before, airstrikes and arming iraqis and syrian special ops forces, cutting off the finances, trying to end the war in syria, but the big point that he made yesterday that we're also getting reaction to this morning is that we should not be treating muslims differently in this country. it is not our american value to do so, but we need to enlist

their support. we're hearing from muslims thanking him for doing that. he also pushed congress to stop gun sales from people on the no fly list and it zblafailed. >> tracie, thank you for that. the head of google's financial arm says they're waiting too long to go public. bill marist said they're setting the bar too high and many will be unable to raise more cash next year or be forced to accept lower valuations. let's get a view from the disrupt conference in london. nancy is there now. nancy. >> reporter: hi, wilford. valuations as you suggest top of the agenda here at disrupt in london where a lot of people are looking at some of the stars of the show, the european unicorns, the sartups that have reached

the level of above $1 billion valuations. i'm joined by the ceo of one of those corporations which is clarna. you are a unicorn here in europe. not just that but you are a profitable one as well. looking ahead, growth is still obviously on your agenda in terms of pushing out further. the united states, a key market there. can you give us an update on how your success in the u.s. has gone so far? >> sure. it's super exciting. we launched like six months ago. we aligned with overstock.com, shoes.com and a number of great merchants. i think that we'll be at a run rate of $1 billion gmd by the end of this year. i think after six months that's probably the fastest growing startup in the u.s. ever. it feels really exciting. >> extremely high growth but at what zmost how much do you have to spend when it comes to partnering with these retailers? >> you'd be surprised. if you have something that delivers and promotion rate

lifts their sales, we've seen some of these partners grow themselves by 15 to 20%. the product works. you don't need to spend that much to get merchants to adopt it. >> reporter: you mentioned conversion rates. can you walk our viewers through how that works and what your success rate has been on average? >> sure. so, i mean, one of the great things about klarna checkout as a product, all of these companies are trying to optimize. it's hard to provide credit cards online, how do you enter them? we came up with this idea what if for some customers we wouldn't ask them for a credit card? we ship it to them and that will lift commercial rate. if you're on a mobile device and entering credit card number is a poor user experience. >> reporter: so the model is buy now and pay later but you take on the risk. what is your default rate like and how much is that costing you? >> it's low enough to be profitable. it's working extremely well. we've seen in all the markets, we're in 11 markets where we're issuing credit. our models have been built over

ten years. we know how to make this work, both from a fraud and credit risk perspective. >> reporter: and you mentioned fraud. also the risk of cyber security attacks, cyber threats to your business. how are you preparing for further attacks there? >> i mean, that's of course a challenge to everyone in the industry. we're at a bank license in europe. we have all of the regulatory compliance in place. that helps to focus and have the process in place to tackle these issues in a very structured and in a way that really, really works. it is, of course, a challenge in everyone. >> reporter: when you reach the valuation where you are now, the talk centers around what is the exit plan, are you preparing for an ipo and will it be here or in the u.s.? >> i've been doing this for ten years. i love what we're doing. we've never been better as a company. we have the future ahead of us. the last thing i'm thinking about is an exit.

you have the ceo of klarna. they continue to focus on growth within private markets. not talking to public space just yet. back to you. >> nancy, thank you very much for that. stoil come on "worldwide exchange", we'll talk from paris, cop 21. >> come on. >> "worldwide exchange" will be back. no matter how fast the markets change, at t. rowe price, our disciplined investment approach remains. we ask questions here. look for risks there. and search for opportunity everywhere. global markets may be uncertain. but you can feel confident in our investment experience... ... around the world. call a t. rowe price investment specialist,

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hello, everybody. good monday morning. welcome to "worldwide exchange." i am susan li. >> i am wilford frost. here are your headlines around the world. president obama using a rare speech from the oval office to vow to hunt down terrorists and protect america from a new phase of threats. >> i know that after so much war many americans are asking whether we are confronted by a cancer that has no immediate cure. off the table, electrolux shares sink after general electric terminates a $3.3 billion teal to sell its appliance business costing the swedish firm $175 million in

break fees. there is an uneasy calm in financial markets. that's the warning for bank of international settlements, b.i.s., which says that a fed rate hike could trigger renewed panic in emerging markets. getting the icahn service. the billionaire investor takes a more than 12% stake in u.s. auto parts and service retailer pep boys sending shares higher after hours. here we go. good monday morning. the weekend's already over. can you believe that? >> i know. flies by. too quick. >> too quick. now if you're just tuning in, thank you so much for joining us on the program. let's check in on markets. yes, we are kicking off a new week here after the huge rally that we saw on friday, the biggest gain for the s&p and the dow since early september. counting back two months. the implied open telling us we are pretty much in line. the s&p 500 called higher by 4 points. dow jones industrials looks like

we are opening up 15 points. nasdaq posting gains of 11 points. here's a look at the european markets as we are still getting that follow through from that huge rally on wall street on friday. we are coming back a bit, folks. from the european forces which saw a pretty volatile session last week thanks to the surprise from mario draghi. the ftse mib seeing gains. cac 40 up 2.4%. the german dax coming off the worst week. the ftse 100 seeing an advance of half a percent or so. wolf? >> susan, thank you for that. yahoo!'s board wrapped up a three-day meeting on friday with no final decision to go ahead with the planned spinoff on its stake in alibaba. they said it's unclear which direction the board is leaning but it's expected to come soon.

they scrapped the transaction. starboard reportedly has lost faith in ceo marissa meyer but rey/code said they're sticking by her. it's up 1.35% today. weight watchers is revamping launching an app and new online tools today. they're aimed at helping customers eat healthier, set fitness goals and reduce stress. the company says customers are more interested in good health and dieting. the launch came after oprah win free bought a 10% stake in the company. it's up 2% in german trade. someone else that moves markets is carl icahn. he's taken more than a 12% stake in u.s. auto parts retailer pep boys. in october they agreed to sell itself to bridgestone. they said pep boys retail auto parts would be a perfect fit for rival auto plus.

icahn owns 6.6 million shares of pep boys making him the second largest shareholder behind mario gabelli. it rises after hours. checking in on german trade, rallying up close to 17% higher so far. avon is in the news. avon's chairman is expected to speak by phone to the head of activist investor barrington capitol. which has demanded management changes and also cost cutting. last week it was reported that avon is in talks to sell its north american business to cubris capital. it would approve the sale. they've been criticized for capitalizing on the strategy to use brick and mortar investors. they're down half a percent or so. >> susan, the cop 21 conference enters its final week in paris as ministers try to thrash out a deal on tackling climate change.

the 48 page document showed delegates are far from united on an agreement. meanwhile, u.n. secretary general ban ki-moon warned that time was running out on securing a deal urging ministers to look beyond their national interests and act now. climate change does not respect national boundaries. it impacts all throughout the world, therefore, we have to have a global vision, global solidarity. the sea level is rising, global temperatures are warming. this year, 2015, is the warmest year in the human history, therefore, there's no time to lose. we have to take action now. the time for action is now. >> he's famous as a muslim man, blockbuster movie star and later the governor of california -- no, i'm not talking about you, wolf. no. now arnold schwarzenegger, that's the guy i'm talking about, is stepping out as a

climate change activist? who would have known. arou arnie says we should look at china. >> we are looking at china because they have been the only company with a gdp growth of 7%, 9%, 10%, 8%, back and forth. they have the biggest growth because the whole world is kind of sending to china to produce their products so, therefore, we basically are sending the pollution to china. and so now they have to deal with it and we all have to work together with them because like i said, it's not like finger pointing. it's not like them versus us, it's more like how do we do this together? >> let's get out to steve sedgwick who's at the cop 21 in paris. steve, do you think arnie can muscle other leaders into finding an agreement? >> reporter: well, let's hope he adds a bit of positive influence as well. look, a lot of hollywood stars have been in and around.

leonardo dicaprio is around. alec baldwin. a nice bit of soft power and pressure doesn't hurt. the fact is there are some absolutely enormous issues that have to be overcome. i was listening into the u.s. energy secretary talking about the modification that is a large issue. when emerging markets are prepared to take some form of verification, what kind of time scale? should it be straightaway from 2020 or given a little more grace, from 2030 and beyond? from the other side of the coin, the emerging markets are saying, show us the money. show us the money. we're talking about $100 billion a year from 2020 which has been promised potentially from the big developed nations. the problem, is that going to be enshrined in something that is legally binding. how long are you committing $100 billion a year from the

developed nations add inif i my tum? this is a deal that will take us through 2100 and beyond as well. those are two very contentious issues. also, what is developed? what is emerging markets now as well? what was emerging markets at the time of kioto, at the time of the rio protocol, is that now? not necessarily because some of these very large, very quick growing countries are bridging the gap and becoming donors on one side of the equation. another big issue is loss and damage. the association of small island states are very worried that they have basically potentially got all of the damage and not getting any of the outsource. they want loss of damage which could potentially be litigation for the big nations and could open up all kinds of compensation issues. so all kinds of big issues, but in the meantime it's the private sector that has got to pretty much stamp out some of this money as well. a lot of companies are just going ahead with greener, more

environmentally friendly strategies regardless. some are making a lot of money at it. not the least i'm pleased to say you. was it hard to get in? >> there was some process with security. >> the ceo from vestas had a problem. >> well on you. this is an amazing conference in many, many ways. you weren't in charge of vestas in 2009. you would have been aware of what was going on. how different is this in creating a stable business for vestas in 2009 versus now? >> i wasn't there personally. a lot more countries have done their commitments and their plans, i think, very encouraging that the big, u.s., china, india, but also on the european

level, that a lot more countries have actually published and now discussed their plans. the second thing i would say is that the involvement from the business community, from corporation is a lot, lot stronger this time. and we say that clearly in our business with companies like walmart actually investing in renewables, in wind. so i think that's a big difference as well. >> what difference can cop 21 make to vestas in a meaningful fashion? you already have, correct me if i'm wrong, 16 billion euros of orders back log as well. you have a big growth in sales. what difference would this make to vestas? because it's already proving -- the company's turned around, let's face it. the shares are up 12 fold since 2012. >> we've seen a good development

in the prices. the orders are up 46%, therefore, not actual nine months year over year. so we've seen strong momentum. having said that, of course, like any business on a streak especially the energy business, what we rely on is long-term policy. long-term political policy framework because these are long investments in the energy, 20, 25 year investments so we have security in the long term policy is important for the business going forward, but we have the momentum. of course, we hope that we actually increase after this conference. >> reporter: this question is the same question i've asked siemens and other producer turbines, you're the biggest in the world, does your industry still need subsidy? a lot of criticism on brittain. does your country stand up on

its own two feet? >> we have to remember that this is a regulated industry so if we cut out all subsidies, including the 500 billion on fossil fuel, i'm very confident that we would be able to stand on our own without subsidy. so -- and i am a firm believer in the free market where the price and the cost of production and also the cost on pollution, but if we can get that system equal for all, subsidy free on all levels, that's a market that i would definitely welcome. when you look at the new build market where you don't come from a regulated environment, you look at addition, capacity for new build, we are in many markets are already the lowest without any subsidy. i think that is really the fair comparison.

>> reporter: ten seconds left. china's been the great growth driver in many ways. do you expect it to be in 2016 as well or a tailing off for other wind renewables? >> china's the biggest grower in wind but not much bigger than the u.s. i expect it to remain. for vestas we have improved greatly. we're on the lower level. for vestas' point of view it's an up side. >> reporter: pleasure to see you. glad you got in the building. as you say, it's nice to know that the security is hot. >> steve, you are so good. smooth as silk, isn't he? there you go. very easy. steve sedgwick there at cop 21. still to come on the program, more than 30 years ago that the buggles sang about video killing the radio star. new reports are that the internet is now eating tv's lunch in the battle for ad dollars.

some of the world's top thinkers and doers are in south florida this week for a conference to discuss how seismic changes caused by technology and globalization are affecting the u.s. and the global economy. cnbc's robert frank joins us from the closing the gap conference in palm beach, florida. good morning to you, robert. >> reporter: good morning,

carolyn. this is an unusual conference. billionaire jeff green organizing some of the best minds in the world on the subject of the global economy and technology to address the issues of inequality and upward mobility of the american middle class and, in fact, the global economy. you have people like robert rice, the former labor secretary, thomas friedman, "the new york times" columnist. the big keynote speaker is former prime minister tony blaire will be speaking later today talking about, i suspect, both terrorism as well as the global economy. mr. blaire talking about the need to focus more on the poor and get being private and public institutions together working more closely to address these twin concerns of technology and globalization which are just creating what jeff green calls a job destruction machine for the american worker. and what's interesting about jeff green is he grew up the son of blue collar workers in massachusetts, became a billionaire shorting the housing market and now has turned much

of his attention on helping the middle class. so it's an unusual kind of conference basically spending his own money to gather these minds together, what he's calling a moon shot idea. these are huge challenges but ones that he says government is not addressing, politicians are not addressing them, look at people on the campaign trail, whether it's the democrats or the republicans. he says, look, no one is talking about the most important issue facing the american middle class which is technology and globalization. so he's put these minds together paying many of them to come here and it's by invitee only. should be interesting talking about education, infrastructure, what companies can do, what investors can do and what governments can do better with the private sector to help the american worker. robert, thank you very much for that. we look forward to the coverage. of course that interview with tony blair. television has been the king

of the ad market for he decades. digital platforms have been nipping at tv's heels. they could soon catch up and pass the older medium. let's get out to kate rogers at cnbc hq with the details. >> good morning to you. two closely watched reports show how television's long-time hold on ad budgets is slipping as digital spending surges. magna global says tv ad sales are expected to fall slightly this year. magna says tv will account for 38.4% of the global ad market this year or $193 billion and that could slip to 38% next year. digital ad spending is estimated to grow 17% this year to nearly 160 billion and could overtake tv as the biggest ad category by the end of 2014. now a separate report from zenithoptimedia says tv sharing

the ad hype peaked in 2012 and it will be surpassed by digital sometime in 2018. magna and zenil will present it today. many broadcasts have been losing subscribers including disney's cash cow espn as more people may be opting for dij nal streaming outlets such as netflix and hulu. the major players including disney, viacom and time warner are all down since august. zenith says over the past year it's more evident that ad dollars are flowing from tv into video. zenith predicts mobile will surpass desktop apps accounting for more than 50% of all internet advertising, but it may not all be bleak for television. even numbered years tend to be better than odd numbered ones. magna expects tv advertising will grow 4% globally boosted by the u.s. election, the olympics

and the uefa football championship in europe. >> people are still watching their football. here's the nfl routeoff. marcus mariota helped them win over the jacksonville jaguars. the quarterback, again, showing his running prowess taking the ball 87 yards for this touchdown in the fourth quarter. it took overtime to settle the new york derby. yeah, as the jets took the honors in overtime. o.t. winning 23-20 against the new york giants but not before odell beckham jr. picked up a pass down the middle from eli manning and ran in 72 yards. beckham setting a franchise record with his fifth straight game running over 100 yards. tom brady surpassing dan marino to move into third place in the all time touchdown lists, but that didn't stop the eagles continuing to get their season back on track. they pushed the patriots to a second loss in a row with this

blocked punt return. oh, i can see bill belichick not happy. and nfl history in new orleans. saints linebacker stefan anthony becoming the first person ever to return a blocked two-point attempt. not enough though to end the panthers unbeaten season. they are now 12-0 and the only team left in the nfl with a perfect season. still got monday night football as well. let's get you caught up on the headlines so far this morning. a new phase in the terrorism threat for president obama using a rare oval office speech to denounce the attack. no deal, ge denounces a $3.3 billion sale to electrolux. the head of google venture says some of the biggest startups are waiting too long to go public. the flu virus.

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we are coming off the best day for the s&p and dow on friday. a higher open on this monday. what are you watching out for this sfwheek. >> i'm watching a couple of things. first, the commodity complex. a nice bounce in silver as copper comes off voraciously the down side. i'm looking to see if we can extend support from 2100 with the s&p. with the impending fed move let's keep an eye on the flattening curve. ten year yields up towards 240. >> michael, do you think the dollar was excessively over sold last week? do you buy back more? >> absolutely. let's just touch on your point about the u.s. ten-year yield because 2.4% has seemed like a hard level to cut through. and on top of that, when you've got yields of 0.6, surely yields in the u.s. will be anchored moving forward. >> well, if you compare germany

to the u.s., it will have that same dynamic easily for the next six months. like i said, i'm really focusing how the two-year performs because i think the ten year will get through the 240 level. the problem is the flattening in the curve will be excessive. the ten year will show much more strength in the front. it will take three or four fed moves before we see the front of the curve start to peak. michael, wti breaking below 40. is that an important barrier? could we go further south from here? >> yeah, 39's a huge level down here. i'm looking for further weakness. 37.59 is a big down side target. >> michael, thanks for joining us. michael guerka. that's all we have time for today on "worldwide exchange." thanks so much for watching. i'm wilford frost. >> i'm carolyn ross. >> i'm susan li. u.s. "squawk box" coming up next.

good morning. an oval office address from the nation. president obama says terrorism is evolving but he says the u.s. is equipped to defeat the threat as today we're learning more about the san bernardino killers. market alert, oil prices dropping near 2015 lows following a big disagreement among major opec producers and good news for drivers in the u.s. new numbers out this morning show gasoline prices are dropping again. and no deal. electrolux's $3 million acquisition of ge's appliances falls through, the result of regulatory hurdles. shares of the swedish appliance maker dropping sharply today. it's monday, december 7th. it sounds familiar.

the day that will live in infamiliar now. "squawk box" will begin right now. live from new york where business never sleeps, this is "squawk box." good morning. welcome to "squawk box" right here on cnbc. i'm andrew ross sorkin and michelle cabrera sitting in for becky. u2 played to 20,000 people. the irish band returning. front man bono paying respects to the 130 people killed in paris that day and the 14 people killed last week in california. meantime, back here at home, president barack obama addressing the nation last night saying in his words freedom is more powerful than fear and discussed the broader threat of what he's calling a new phase of