welcome. fantastic to have you with us. we are waiting for the prompt. >> and the headlines. >> an early christmas present for investors with all major european markets rallying as u.s. futures point to a positive open. >> they still make sense even with lower oil prices. the energy giant says the -- all right, the break even with future crude prices in the low 60s, the deal would still make

sense at that point. >> nike beating the street. shares jumping in after hours trade as they post a rise in revenues. >> u.s. consumer spending rises in november with americans opening their wallets ahead of the holiday season. >> all right. if you're just joining us and you can't wait to get trading in the u.s., this is what we're looking at. u.s. markets called higher so that's what we're seeing on the future's board. when it comes to the ftse global 300 we're looking at it higher by .4% or so and we're still hanging on to the gains up by

around 1.5% so coming back after the recent elections taking place in spain. >> commodities rallying across the board today. you have to wonder why that is. a pick up in industrial commodity prices in the trading session but maybe some investors are buying the loser of the year at 60 basis points. we saw that increasing yesterday on the back of the slightly better than expected gdp numbers revision for the third quarter coming in at 2% and consumer spending fairly robust. those sales were certainly disappointing. the weakest print in four years. overall, liquidity very, very

thin. we're seeing a further rally. copper prices up by 2-thirds of 1% wti closed above brent for the first time in four years in yesterday's trading session. this is certainly historic and in part because the u.s. moved to call it the export ban for the first time in four years so that helped speed up closing the gap. in the currency markets what we're seeing is japan being closed today and that means very little yen trade but in terms of the u.s. dollar trade a range bound on the back of data points. that's 109.22 and dollar yen off by 0.1% that's after three

consecutive sessions of selling. third quarter gdp beat expectations to grow by 2%. retail sales plummeted by 10.5% in november being the biggest drop scene in five years. good morning, steven. >> good morning. >> merry almost christmas. >> thank you. same to you as well. >> yes, thank you. so the u.s.gdp stronger than anticipated consumer spending rising. the dollar up 11% this year against the basket of currencies. is it going to continue higher next year? >> we think absolutely, yes. it is. i would say the key theme here is what happen with the u.s. economy because the key driver for the dollar is what the market prices in we would argue

the market is not pricing in enough tightening. so the key point we would say here is that as we go into 2016 we're likely to see higher u.s. yields. particularly at the short end. say two year which is is very important for the fx market and the dollar and as that happens as two year yields move consistently above 1% we think that's going to drive it. >> how many hikes should we be pricing in? >> the fed is more or less telling us four. maybe it is a little bit tricky. maybe beget three and they pause but that's quite a bit more than what is currently priced in by the markets so the risk is very much to the upside. >> but didn't you see the home resales the lowest in four years? didn't you see the manufacturing numbers? it only counts for 12% of the economy. there's certainly weak patches. why would the fed be so hawkish if overall the economy is not

firing in all cylinders. >> very good point and we'll get pockets of weakness, particularly in home sales which is quite seasonal but i think the key point here is unemployment and inflation so remember unemployment in the u.s. now and remember janet yellen and the fed are not so interested in inflation now but inflation in the future. usually two years ahead. they have to try to predict what's going to happen to inflation there. you already have core inflation at 2% on a year on year basis. with unemployment now give or take 5%. so if the fed is looking into it's crystal ball two years ahead it's going to have to suggest that inflation will pick up and therefore it needs to tighten. >> what's the risk of a major policy mistake? maybe that's the biggest policy mistake the fed ever committed

because it won't return to its precrisis state. >> i would say the possibility is actually fairly low and i would play devil's advocate here and say the opposite. what's the possibility that the fed is significantly behind the curve because the point i would make with interest rates and base rates barely off zero, the big risk would be that inflation accelerates to the upside and certainly the fed, c inflation, accelerating not dramatically but we could be wrong on that. it could accelerate more than we're think sog the prude-- thi so the prudent path would be to hike. >> it's the one that could catch everybody out. >> it's the key one driven by the unemployment and there's a lot of comparisons at the moment. far faster than policy makers

anticipated. the u.k. is already starting to see wage inflation start to pick up in the data but both economies are signaling to the central banks that they need to start the policy. >> thank you now but stay with us. we'll chat a bit more. get involved. if you have questions for any of our guests, anything you want to send through, we're on twitter or on e-mail worldwide@cnbc.com. >> let's give you a run down of what to watch today. november personal income data is out at 8:30 a.m. eastern expected to advance further after a strong gain in october thanks to the improving labor market and increases in rental and other proprietary income. also november durable goods. that's the big one with orders forecast last month. look for november new home sales and the final read on consumer sentiment. >> look at the other top stories

making the rounds. u.s. consumer spending in november as households open their wallets at the start of the holiday shopping season. spending rose by .3%. the data was released more than four hours early. the bureau of economic analysis didn't give an explanation but is taking steps to make sure that it doesn't happen again. >> second quarter results revenue drove future orders which reflect products scheduled for delivery rose 20% easily topping estimates on strong demand in north america and china. consumers buy athletic shoes and apparel for daily wear rather than actual workouts. nike already the best performer on the do you this year. rose another 2% in after hours trade. the stock is set to plsplit 2 f

one on thursday. >> i think it's today. >> is it today? >> yeah. i might be wrong. >> the company is forecasting a surprise loss for the second quarter. that would be the first loss in more than two years as the memory chip maker struggles with weak demand for pcs which is pressuring it's selling prices. micron has been investing to ramp up production of more cost effective chips used in smartphones and other devices to store music and pictures. falling by six hours in after hours trade and around 6% here in german trade this morning. >> time to go for a quick break but still to come on the show, kitchen sinking. bed bath and beyond warn on future earnings. we scrub up on the details, next.

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enter the x1 voice remote. now when someone says... show me funny movies. watch discovery. record this. voila. remotes, come out from the cushions, you are back. the x1 voice remote is here. >> european markets heading green as u.s. futures point to a positive open. shell sticks to its gun amid low oil prices and nike beats second quarter earnings expectations with a healthy revenue boost. >> now as we were talking about the fed could be set to tighten further next year after finally delivering on its much

anticipated interest rate rise earlier this month. one of the best trades to look out for and be in in 2016. global head of fx strategy, changing your title. >> hope flits improving. >> so what are some of the main trades? >> well, clearly we like the dollar. that's the key trade here but beyond that it's best to look at currencies as groups and one of the groups we like to sell is the commodity block. so specifically the australian dollar is probably top of the list and the reason is firstly we have spoken about the fed hikes and more priced in but if you look at the disconnect between new lows in commodity prices and oil is a big one and also iron oar. things like australian dollar is holding up well despite the fact that we have gone to new lows in

commodity prices. this tends to be fairly typical behavior. it remains elevated for awhile but then it will come off quite sharply in line with what commodity prices are signaling. >> off by more than 11% this year against the green back. qe is on the rise really and canada, the canadian dollar off by around 19% this year against the dollar. is there any upside to some of these currencies? >> it's interesting. those are good statistics you just highlighted. i look at the difference between australia and canada. clearly i think there's catch up for australia. probably new zealand as well and they're holding up quite nicely but particularly given that it's main export is as low as oil so

the top pick would be short australia verses the u.s. we could see it moving down to 67 cents or lower. >> aren't these all incredibly crowded trades. >> this is a really good point. i would argue no because we look at positioning and what positioning is telling us is that even long dollar is moderate. i would say they were very consensus and certainly you use the word crowded. crowded back in september or october but the market lightened up on those positions and a lot of it has been due to the fact that many investors have actually struggled in 2015 and it sounds like a goodyear but it was very lumpy. what we saw was a very strong trend but over the summer a lot of disappointment with the fed. first june and then september and a lot of us pushed the hike into 2016 but we came back to

december so it was hard for investors to track that that wasn't expected and plushed out a lot of trades. >> how do you want to play the yuan? it dropped 6% this year. we don't know how much further devaluations is in store. it's hard to second guess what the pboc is going to do but this could be one of the big trends? it's not free floating. from that perspective it's what the pboc is likely to allow. we're looking at around 660 by the end of 2016. maybe more but what that says is a fairly gentle decline but for

the chinese to stand in the way of that trend puts them at a disadvantage. so things like dollar career and dollar taiwan it makes sense for the chinese to allow them to participate in that trend. >> you're going to stick around maybe even a little longer. maybe we can get you a cup of coffee in the meantime. celgene will allow selling of generic revlimid. they'll make and market a generic pill starting in 2026. a year before it expires. the drug accounted for nearly 2-thirds of celgene's annual sales. german trade up by almost 6.

>> now turring pharmaceuticals is moving on and launching the search for a new ceo. he re-signed on friday aisha daf ago arrested and charged with securities fraud. turring will also expand to include more independent directors and plans to cut an unspecified number of jobs as well. >> bed bath and beyond is slashing it's third quarter outlook citing sales. it now expects flat same store sales verses the previous estimate of growth of 1 to 3%. the company has seen softer in store transactions although online sales have been strong. bed bath and beyond falling 6% in after hours trade. off by a similar percentage in german trade. >> still to come here on worldwide exchange, donald trump continues to draw more criticism after spouting hateful comments against hillary clinton. what did the offender say this

time? we'll be back with more on worldwide exchange.

dow jones scene up by 74. the nasdaq seen higher to the tune of 20 points.

this is after they crashed the board on the back of oil prices recovering. the dow up by 1%. >> iraq's military stormed the isis held town of ramadi. they now control more than half of the city and expect to clear 300 isis militants in a matter of days. ramadi fell in may in what was a set back to iraq's government. the recapture of a town with roots to jordan and syria is expected to deal another big blow to isis after iraqi troops retook them earlier this year. >> presidential candidates donald trump and hillary clinton bypass their immediate competition entering a general election grudge match. trump spewed venom toward clinton that refused to back down from her claim that he has become isis's best recruiter. >> wow, wow, wow! >> donald trump again storming

past political decor rum. this time to criticize hillary clinton. >> what happened to her? i'm watching the debate and she disappeared. >> for using the bathroom during the democratic debate. >> i know where she went. it's disgusting. i don't want to talk about it. it's too disgusting. >> and going even further parading her with a sexual vulgarity for losing to barrack obama in 2008. >> she was going to beat. she was favored to win and she got slonged. she lost. >> firing back with humor. >> we should give a few more minutes for bathroom breaks at the debate. >> i'm just glad they had one somewhere. >> and a message to a little girl about bullying. >> you are looking at somebody that's had a lot of terrible things said about me. it's important to stand up to bullies where ever they are and why we shouldn't let anybody bully his way into the presidency. >> trump's grand rapid's rally, his last before christmas was anything but merry and bright.

the crowd riled up and angry. trump turned the tables on reporters. >> by the way, i hate some of these people but i'd never kill them. i heat them. no, these people, honestly, i'll be honest, i'll be honest, i would never kill them. i would never do that. his traveling press corp in the center of the arena as thousands booed and jeered. >> you're offended, the average american is not. the average american was just sitting on their couch saying that exact same thing. >> but today a new toll found that half of all americans would be embarrassed to call the billionaire president. and the same poll finds him atop the gop field but ted cruz is gaining fast. >> i don't need to be another political puppet. i'll let donald trump speak for himself and i'm going to speak for myself. >> we'll bring in tracie potts that joins us live.

what i find really, really fascinating is the fact that he seems to be pretty quite during the debates but then whatever happens outside of the debates, he polarizes so much. >> well, think about it. those debates are heavily focused on policy and that just is not the area that he has shown is his strong suit. when they get into these deep policy discussions in the debates you don't hear a lot from donald trump. when you do hear a lot from him and when he has a supportive crowd around him and he makes comments and he gets the immediate feedback from that crowd. now he was tweeting overnight into early this morning talking about this. once again blaming the media saying this was a term that others have used. that the biased media misinterrupted the term that he used but when you take a look at the polls he's still leading in all the polls but they tell different stories. a reuters poll shows him only four points ahead of -- i'm sorry, a poll that shows him

only four points a head of ted cruz. we have a reuters poll that shows him with a wider margin ahead of ben carson with ted cruz lower. the polls are telling different stories. the one thing consistent is they seem to all show donald trump in the lead. >> tracy, thank you for that. nbc news. still to come on the show, the u.s. government approves a natural policy to evaluate the use of technology for u.s. veterans with spinal cord injuries. more on this after the short break. don't go away.

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xfinity's winter watchlist. watch now with xfinity on demand- your home for the best entertainment this holiday season. welcome back to worldwide exchange. >> these are your headlines from around the world. >> an early christmas present today. all major european markets rallying as u.s. futures point to a positive open. >> it still makes sense even with lower oil prices. the energy giant says the tie up will break even with future crude prices in the low 60s as it makes another big cut to spending. >> nike beats the street. shares jumping in after hours trade as they post a rise in revenues and future orders. >> retailers benefit as used consumer prices rise in november

with u.s. consumers opening their wallet ahead of the holiday season. >> hi, everybody. thank you for joining us. european markets are also higher in this morning's trade and all the main european equity markets in the region of 1 to 2%. up close to 2% now. coming back and buying back into the spanish stock market after the elections that took place here over the past weekend. the ftse mib up by 1% and xetra

dax up by more than that. >> apple is reversing course in an sec filing the company says it will now allow certain investors to nominate board members after argument against a similar proposal at its last agm. apple says investors that held 3% of the company for at least three years will be eligible to put forth nominees they'll also be allowed to team up with up to 20 stockholders. now for a quick look in apple trades up by 0.7%. >> google is reportedly working on its own messaging app to rival facebook messenger and what's app. it will use the use of chat box or software programs that can answer users questions. it's unclear when the app will launch or what it will be called. alphabet is up by 1.2% in german

trade. >> four square may have to change it's name to two square. the check in location app is near funding that would value it at $250 million. wow, that's less than half it's worth. just two years ago. foursquare has reportedly talked to potential buyers. the app which was launched in 2009 has long been the subject of takeover talk with yahoo! being reported more than once as a possible suitor. >> now looking at some of the commodity prices out there and starting with oil we're trading a little bit higher. wti crude and brent up around a percentage point or so. both trading very close to each other. $36.46 and 36.48 for brent. a bit of a switch. >> wti trading above brent for the first time in four years. >> spot gold flattish and same for silver. royal dutche shell with a break

even. it expects the combination to be cash flow in 2016 with brent prices at $50 barrel or higher. also announcing a further $5 billion cut to spending. steven is still here. i think i said that in new zealand they indicated they weren't going to cut rates but they are. they're indicating that they might cut rates more. that's what i meant to say and they have a 2.5% rate now. do we think this is going to hurt more given that you have oil prices heading lower and you have the potential to move even further down as well? >> there's a couple of points to make here. china is super important and what's going on in china is that the economy is changing away from very strongly manufacturing

focused economy that's good for the chinese economy. not great for commodity prices. we tend to think that commodity prices will remain relatively subdued. that's going to put more pressure on the central banks to reach policy they're going to be able to ease if need be and we think pressure will increase on the central banks much of it goes to china. >> is it too late to put on a short on the euro dollar? positioning has been some what lighter since october or november but we think it's a fairly crowded position. would you still recommend that trade? >> we would very much recommend it. it's interesting, our

positioning would actually go against some of the consensus we have seen out there. if you look at the small component of the futures, that would suggest the position is quite crowded but if you look more broadly we'd say it's less crowded. so at close to 110 we think short euro dollar certainly makes sense. especially for a more medium term investor. our view is we can move back to around parity in q-3 of this year. now that will be consistent with the fed hiking but also the ecb under more pressure to ease. we don't believe it's too late or is the dollar the ultimate safe haven? >> the way we look at it is you have a very strong negative relationship between the funding currencies and risk and the funding currencies i would

define as yen, swiss franc and euro. so all the ones with largely negative interest rates. when times are good the currencies are weak because investors use them to fund but in times of stress as we saw over the summer of this year, these currencies tend to become the safe havens so it really does depend on the overall tone of risk in the market. >> that's it for this year for cnbc for you. global head of fx strategy. thank you for your thoughts. >> now flashes coming from brazil. the brazilian central bank seeing 2016 inflation at a rate of 0.2% and 2017% inflation rate at 4.8% and also how they see growth. 2015 gdp growth versus the previous estimate of minus 2.7% and gdp growth of minus 1.9%

through the third quarter of 2016. >> moving on, the united states department for veterans has issued it's first national policy to evaluate the use of product for all qualifying individuals that served in the armed forces. they build wearable exoskeletons that allows those that suffered from final cord injuries to stand up and walk. >> that endorsement coming from the u.s. vet vans in virginia that was a significant deal to you. but when will we see revenues from that. >> it will take a few quarters for them to build the training programs and conduct the evaluation so i think a lot of 2016 will be the building process. there are 42,000 u.s. veterans paralyzed and roughly half of them qualify for this product.

it will take a little bit of time though. >> what is your visibility on that, larry? >> so far we can see the veterans that have come to us. we have a small number, about 45 or so that have come to us and ask. we will help marshall them through the system. one of the nice things about the policy is it states out the centers for evaluation and it will have training centers and a procurement process all defined nicely in the agreement. >> larry, it's louisa. what does something like this cost? >> one of these is selling for $77,000 and we look at the health benefits that are gained from using this it appears to have a 2 to 2.5 year pay back and this comes out of their own

research that they had done so they used their own data to make this decision. >> are your products, are they also readily available for people who haven't been in the armed forces? >> yes, we are working actively to build the same support in the sector. we have 620 leads between the u.s. and germany in particular and starting in the u.k. now and we have a good number of pending claims and we're seeing very good case by case coverage by private ensurers in germany and the united states and will be working to expand the coverage. >> $77,000 that's a high price tag isn't it? >> you have come competition that you're facing also. i would think that you are probably working on making this product some what cheaper through technological innovation. where are you with that?

>> well we will certainly advance this. it's technically our 6th generation. the product has improved dramatically. i do believe the pricing will change but a lot of the way the government has looked at it is value. and we are reducing the amount of medication needed for individuals for pain, for the gi track. we're reducing complications that are very expensive. the average cost is $79,000 for an event so the price point is very competitive with what the markets need and we're focussing on providing economic data to show why this is beneficial. >> you do think you have a little bit of an edge over your competitors because that's the only exoskeleton that can be used at home. when would competitors catch one

that? >> right now we're the only one with new use in the united states. competitors are a couple of years behind us so i think sometime in the coming year we'll see our first true competitor but they'll be with our first generation product. we're already on our 6th so we believe we'll be able to stay ahead. >> thank you for your time. >> now still to come, lift is getting a lift at the airport in it's on going battle with uber for your ride sharing dollars. we'll tell you what that's all about on the other side of the break. you're watching worldwide exchange. e-mail worldwide@cnbc.com.

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sorry to interrupt. but i just have one question: how do i keep them quiet? (pause) watson? there is no known solution. nike is the best and another earnings beat overnight. the dollar was a bit of the drag. earnings did beat the street again. china growth up 28%. that's quite astonishing. nike set to be the best performing stock on the dow this year. now very very different story for walmart. have a look at the euro day performance off 29.5%. walmart which is the world's

largest employer has been partly hit by the tough retail environment, sluggish consumer spending as well as increased competition in the online space, specifically from one company and that is, we all know it, it's amazon. it also saw the profit warning in the month of october due to higher spending on wages and e-commerce to a tale of two companies, really. >> no, definitely. definitely. astounding how they keep going. but never tit's still down 30% say. the ride sharing wars rage out. uber gifting over lyft. let's hear more from kate rogers starting today the ride hailing service can pick up passengers at los angeles international airport. previously it could only drop people off. lyft will pay $4 a trip.

it's a big step forward for consumers it stit can't pick them up until it completes the permit. they're trying to get the same airport access as taxis and buses. it can uphold the outcome of a lawsuit filed by california drivers over the status. he said many more drivers can take part in the class action suit even if they did not opt out of an arbitration clause in the contract. three drivers claim their employees rather than independent contractors and are entitled to being paid including gas and car repairs. that could raise the cost and force it to pay worker's comp and unemployment insurance. they say the contractor model allows for more flexibility. back to you. >> thank you so much for that. meantime santa has an extra gift

for all the music lovers. john, paul, george and ringo. re-code reports they're coming to music streaming services on thursday. pandora also has the songs on the online radio service but with several restrictions. unlike artists such as adele, coldplay and taylor swift that decided not to release some songs to the free versions of music sites, the beatles catalog will be available to everyone. >> last minute shoppers might have one more thing on their mind this year mainly on christmas eve t. coffee chain sold 2.5 million gift cards on the 24th of december in canada. one in seven u.s. adults received one last year. gift cards have been the most requested holiday gift nine

years in a row. you can never go wrong. >> you can never go wrong though the problem is you assemble so many and then they expire. >> that's true. >> and then it's worth nothing. >> i have a yoga card expiring. you're just reminding me. i have five sessions i haven't been to. >> shops across the u.k. are bracing for the busiest shopping day of the year today. last minute christmas shoppers are expected to snap up gifts and food for christmas day a third of consumers plan to do it today pinning down a specific time as the absolute busiest. 20 past 11:00 this morning is the businessest time of the entire year for the christmas food shop. so that's roughly half an hour away. if we leave now we can still make it for the busiest time. >> i can't wait to stand in line with everybody else. as we were saying, we're both not cooking this year. >> no, so we don't have to go

and be in the middle of all the masses trying to get their turkey and whatever else. >> what a luxury. >> but we want to show have you done all of your christmas shopping? do you leave it to the last minute or are you procrastinators? get in touch by e-mail worldwide@cnbc.com. >> now if you're just joining us, these are headlines this morning. european markets turning a festive green as us. futures also point to a positive open. shell also sticking to its guns and nike beating second quarter earnings expectations with a healthy revenue boost. the future belongs to the fast.

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>> we are in rally mode. xetra dax up and cac 40 up and ftse mib in italy up by 1%. it's the oil and gas stocks leading us higher today because some of the medals rallied in the asian trading session. no major reason behind it. some say more stimulus coming out of china but i guess it's one of those slow days, low volume days and big moves in the market. >> very much so. setting ourselves up for trade state side, the implied open is higher across the board as well. gains in asia and gains on wall street earlier. taking place here with the santa rally. >> maybe we'll get the santa rally overall but the trend we have seen over the last one or two weeks is two or three days of gains and losses. really no consistency. let's give you a run down of what to watch today. november personal income data is out at 8:30 a.m. eastern,

expected to advance after a strong gain in october thanks to the labor market and increases in rental and other income. also we get november durable goods. that's the big report of today with orders forecast to have dropped last month. and at 10:00 a.m. look for november new home sales and the final read on december consumer sentiment. >> top stories today, u.s. consumer spending picking up in november as households open their wallets at the start of the holiday shopping season. spending rose by .3% after holding steady in october. the day that that was supposed to come out this morning was released by the commerce department more than 12 hours early with monthly personal income and inflation numbers. the bureau of economic analysis didn't give an explanation but is taking steps to ensure that it doesn't happen again. >> nike second quarter results beat forecasts as revenues rose 4%. future order which is reflect products scheduled for delivery in the next six months rose 20%.

easily topping estimates on strong demand in north america and china. nike benefitted from the rise of the athlesiure movement where they buy athletic apparel for daily wear rather than actually workout. they rose another 2% in after hours but the stock is set to split 2 for 1 in today's trading session. currently in germany, nike is up 3.5%. it defies the strength of the dollar, defies china weakness. does well overall, doesn't it? >> it does. the movement into this athleisure or wearing your sports clothes for every day, it's so comfortable. which also leaves me the impression of whether or not you're seeing a deflationary environment for the type that you use. we're using more jerseys and stretchy stuff. it's so much cheaper to make. >> i don't think they ever used

cashmere did they? >> not nike. >> but the technical elements of clothes are become sog sophisticated. many of us want comfort. >> maybe. yeah. nike the best performer on the dow this year up 30%. walmart off 30%. 60% divergence even though you wouldn't think they're too far apart. both are related to the retail space. it's been such an incredibly tough year. amazon one of the few winners out there. >> definitely and especially during the holiday seasons and the whole click and order. it's very easy at the moment to get what you need online. anyway, listen we need to wrap up today. we need to rush out and do some last minute shopping. that's it for today's show. >> next up, squawk box u.s. we'll see you tomorrow. bye bye.

good morning, santa has to make it to town but are the bulls pulling the sleigh. a good session yesterday and oil prices also up so far. so i say smoosh, how about nike just did it? beating the street. the athletic wear giant's future orders up 20%. and the real life elf on the shelf. we're going to show you the video of a 4 month old going viral today. it is wednesday, december 23rd. christmas eve eve, 2015. squawk box begins right now. ♪

>> live from new york where business never sleeps this is squawk box. >> good morning, welcome to squawk box here on cnbc. i'm becky quick with joe kernen and andrew ross sorkin. they'll be available on all streaming music services starting on christmas eve. unlike taylor swift the beatles songs will be available on free versions on services like spotify. first let's get to the markets. yesterday was a good day for the markets. the dow was up by 165 points. you can see this morning the green arrows are up once again. s&p futures up by 8 and the nasdaq up by 20. >> let's tel y