mary barra gave a very upbeat forecast for that company, both raising earnings per share estimates and other metrics to investment. >> sad faces in ann arbor. announcing for the nfl draft. local boy. >> thanks. >> "closing bell" starts next. is that a market reference? >> i'm kelly evans with the new york stock exchange. >> record highs today. small business optimism is soaring. is this the making of a sugar high for investors. we're going to talk about that coming up. >> some strong guidance. in a $5 billion buy back sending shares of general motors soaring today. we'll have details on why the automaker is so optimistic. >> what a transition that was. that was great. i don't know who's djing today.

you're doing a great job. after being targeted on twitter by president-elect trump, we have more on the business blame game that's coming up. for the first time since that epipen outrage peaked milan ceo heather bresch will join us in an exclusive interview after the bell today. stay tuned for that. let's start with small business confidence surging to a 12-year high. just last month former treasury secretary larry somers sounded this optimism. he was on "squawk box" this morning. take a listen. >> consumer confidence at 12 year highs, market's at record highs right now, how would you characterize this? >> sugar high. >> is this a sugar high? >> sugar high. that can last for a while. >> kate rogers joins us now with more on the optimistic data

coming from small biz right now. >> small business optimism continuing to hold strong post election. the national federation of independent business out with its monthly read on sentiment. it's hit a high not seen since 2004 of 105.8. that's an increase of 7.4 points over last month. it's also the highest month over month increase since the index even began in 1986. small business owners feeling particularly optimistic about their outlook for business conditions and real sales needs. those two categories accounted for 73% of the gain this month. despite the optimism though job creation remains weak as did sales. the single most important problem for small businesses in the survey remain taxes followed by government regulation and red tape. poor sales and quality of labor tied for third place. leading up to the election both pointed to small business owners supporting donald trump despite his lack of a formal plan to help them grow. the president-elect did meet with alibaba founder jack ma who

pledged to create 1 million jobs here in the u.s. by helping small business owners selling their goods on his platform. donald trump pandering to the small business community. it makes them more optimistic. >> that's true. kate, stay with us. we want to talk a little bit more about the implications of this rising confidence. small business, talk about that. >> they're not really public companies. it's not small cap stocks. 1, 2, 5, 10 employee companies. it is genuinely independent business. it fits in with other measures of psychology, investors, ceos, consumer confidence. you did post election have this rush of optimism that things have the makings of maybe getting better next year. i do think you should point out that you often see spikes in the small business optimistic -- optimism index around the time when the stock market has already been rallying and might

be due for some kind of a pull back and vice versa. i circled some turning points there. what's interesting to me was a big plunge in this optimism index after the 2012 election when president obama was re-elected, there was a plunge there. it wasn't about current conditions, it was about we don't think things are going to be good next year. it was a great buying opportunity for stocks. stocks went up 30% in 2013. i only say that because this has been the pattern of kind of buying bad attitudes and selling optimism. the question right now for this environment is whether that's changing. whether, in fact, you can have a self-reinforcing confidence cycle in the economy and the markets. that would be a shift from the environment we've been for a while. >> kate, as you point out, a lot on the small business side is about hope, about expectations for lower regulations, lower taxes and all the shackles that they seem to have been -- that they were put in over the last eight to ten years, yes? >> yeah, absolutely, bill and kelly. you have to remember a lot of the uncertainty factor has been removed. we now know who will be

president. we know trump administration is imany nen imminent. donald trump wants to work on repealing obamacare. replace it with what? what does that look like? even though they're feeling optimistic about regulations like that going away, we still don't know what the future holds. until this translates into better sales, consumer confidence translates into people walking through their door and that turns into new jobs being created, those are things that will actually mean business here to stay for me as somebody who's been covering this for a while. >> indeed. and you're doing a great job on it, too, by the way. thank you. we're very optimistic about that. kate rogers, mike, here on "closing bell." liz an saunders joins us from charles schwab. we have steve grasso, stewart frankel, i have no idea what he's going to say. our very own rick santeli is at the cme. i was looking at a chart of the dow. i could have looked at the s&p. i looked at a chart of the dow.

before the post election rally we've been going sideways for a while. we had a big rally in february when jamie dimon said he was buying his own company stock. we've had two rallies and then it's been sideways. what do you think the next catalyst is for this market? what are you looking for? >> i think the next catalyst is obviously the inauguration of at least a portion of the first 100 days. i really think that, you know, with all due respect to mr. summers, it's not as though he hasn't advocated for many policies during the years after the crisis like the reason we're not going anywhere is more stimulus. many of the reasons never seem to hold water, and confidence, as mike santolli pointed out, is a tough thing. but i personally believe with the entire world looking for blemishes on scarlet johansen, meaning the stock market and all the consumer confidence in it isn't just small business.

you have basically 14 year highs on consumer confidence from the credit guys, you have the same thing for university of michigan. so even though confidence isn't factual, it's definitely more than hope. it's more than optimism because it's founded in something. this isn't like the fed saying i think things are going to get better, confidence goes up, the market rallies for a while. this is about tangible things in the reach of the political class and i think it's totally different and as far as sideways movements and markets that have had trending large moves, i think that they are distribution areas. so i look at stocks distribution to go higher. i look at rates distribution to go higher. that's what i see. >> liz ann, you were talking about watching these optimism numbers including the best optimism. do you see signs there that it's getting overdone? >> so if you look at the attitudinal mesh measures of aai, investors intelligence,

they arguably show a little bit of fraud but it's not matched by the behavioral measures of sentiment, whether you look at things like mutual fund, exchange traded fund flows. so i think there's still a lot of runway in terms of the behavior of investors. i think that shift back towards interest in u.s. equities is new and still young enough that we probably have a ways to go. i would add to what rick said though, i think a catalyst, an important catalyst is earnings season coming up. maybe not what's said or what's reported for the fourth quarter, but the outlook looking ahead in the next couple of quarters to see whether that ties in with some of these confidence indexes. >> that's where i was going to go with you, steve. with earnings coming out plenty of people are saying it's not the inauguration that we should be looking to as a catalyst for this market. we have to look at the earnings. we have to prove them to justify the rally. what do you expect here?

>> i don't know if we've had an earnings season that can live up to that. logic will tell you that we should backtrack and come in a little bit in the overall markets, the macro markets. reality is we've been so under weight financials, energy, eight years of a different administration you've seen people with the bonds. now they're unwinding that. you cannot tell me they've unwound in a month. tremendous runway for stocks to move higher. if you look at the over all weightings in the s&p, the energy is being cut in half in five or so years. maybe a little bit more than that. a lot more room to trade up higher in those sectors. >> in the market, that ten year interest rate has been capped and drifting lower. it's usually a pretty good tell about where everything else is headed. what do you make of that when

sitting things out? >> we're sitting at 237. we settled at 244 at the end of last year. the high closer we had for one day was a whisker shy of 250. considering july you were at 136, i would think if you do retracement levels, that even though what you're saying is correct, they're not the type of retracements that would lead me to think that whatever was driving bonds up has diminished. >> the january outlook, he thinks the most important market to watch right now is not dow 20,000 or oil at 60 or dollar euro at parity, he thinks 2.6% on the ten year is what to watch because if we get a above that, that takes down the long downward trend line. that goes back to 1982 and the bull market for bonds will be over at that time. what do you think, rick? >> hey, listen, bill gross is a technician, i am a technician. i have santelli exchanges

talking about that very level as the wild card ford high yield of the year. we hit it once on a closing basis and a couple of times. i couldn't agree more. here's why it's important quite simply. it was the last thing in the high before the second leg of the double bottom in july of 2016. so that's september 12th, 2014, high of 261. he's referencing is in my opinion absolutely spot on. and the next major level is 303. i mksed that before. that was december 31st, 2013. the only close we had above 3% is mid 2011. so i completely agree with those levels. >> if that's the case, liz ann, clearly interest rates are going up especially if the fed is going to be raising rates down the road. where do you tell people to go for income without the loss of principle because prices are going down? >> we're certainly not telling investors to abandon bonds

because we're much more optimistic. we are telling investors you can find income in the equity market. that's probably the place you want to help on inflation. the one question i've been getting a lot lately, not about technical levels in terms of the bond side, but the question i get a lot is at what yield does it start to hurt the stock market. i think we're still a ways away from that. we're in an environment where we were in the post world war ii era. we're coming out into app inflationary area. when the yields go up, they're going up from a base and it takes quite a while before they start to earn equities. i don't think we move out of the environment at any time soon. >> we have to go at this point. thank you all. appreciate your thoughts on today's market action. see you later. 45 minutes to go into the close. dow is basically unchanged. s&p up 3 points and transports are a huge mover. index up 1%. nasdaq up 21.

we'll have more on this later, but the outperformer, it's the mirror image of what happened last year. small cap russells are making a bit of a come back up .9 of a percent. >> we have the ceos of milan and dominoes on deck in the next couple of hours. we'll get their views on the economy, how much they're expecting president-elect trump's policies to impact their business. all kinds of things coming up over the next couple of hours here. and general motors announcing better than expected earnings guidance and a multi-billion dollar stock buy back. you're watching cnbc, first in business worldwide. the first stock index ♪ (musicwas createdughout) over 100 years ago as a benchmark for average. yet many people still build portfolios with strategies that just track the benchmarks. but investing isn't about achieving average. it's about achieving goals. and invesco believes doing that today

requires the art and expertise of high-conviction investing. translation? it's time to bench the benchmarks.

on a perfect car, then smash it into a tree. your insurance company raises your rates. maybe you should've done more research on them. for drivers with accident forgiveness, liberty mutual won't raise your rates due to your first accident. and if you do have an accident, our claims centers are available to assist you 24/7. call for a free quote today. liberty stands with you™. liberty mutual insurance.

welcome back. shares of general motors up nearly 4%. an additional stock buy back. phil lebeau has all the details. >> here's the reason why. the company getting the guidance for almost 2017. it's an improved profit outlook. primarily driven by the bank that's expecting higher revenue and maintain or improve its ebit

and ebit margins. it confirms with the consensus of 572 to 575. general motors says when it looks at the rest of this year it expects strong sales in china and the u.s. those are the two largest markets in the world and two markets where they are number one in sales. gm emphasizing profit per vehicle. it's not market share, it's profit per vehicle. take a look at shares of general motors over last year, the stocks surging to a 52 week high. earlier today rurp on invested capital is going to be at least 25% for all of 2017 and this company has just announced it's authorized an additional $5 billion stock repurchase. those are the reasons this stock is having a move that we have not seen in a long time for gm shares. >> phil, stay right there. we want to talk about this. you know, as gm provides this update on its financials it's also pushing back against mr. trump's calls to create more jobs here in the u.s.

it's taking a swipe at apple in the process. gm north america's chief told "the wall street journal", and we quote here, i'm not sure we're the bad guys, he said. i think there are a lot of other industries that probably over time will get into this discussion. i don't know, for example, he continued how many iphones are made in the u.s. for u.s. consumption. as apple comes under pressure from mr. trump, some are wondering if it's facility in mesa, arizona, will spur job growth. josh lipton has that part of the story. >> that's right. apple plans to a semple hardware at its facility in mesa, arizona, to be used in the data centers. specifically the tech giant will build all of its u.s. servers at its facility and ship them to data centers in oregon and north carolina. those servers critical for tim cook's business. that's technology. it helps apple run its own operations as well as power services in the cloud. apple originally purchased this

factory for sapphire supplier gt advanced technologies but that company went bankrupt. apple has since used the facility to store icloud backups. basically it's a large server farm here. important to note there will be no significant jobs impact from this facility. apple says this plan has been in the works for a long time which should suggest it is not a reaction to president-elect donald trump who we know has sharply criticized apple and many other companies and industries from manufacturing and assembling goods overseas. guys, back to you. >> phil, i can understand why the auto industry is anxious to say, we're not the only ones. they have really, if you want to put it this way, been picked on a lot. >> they have been and keep in mind that for donald trump, this was a campaign promise that started with ford and then expanded into, look, a lot of things are built in mexico and nafta is bad for the u.s. the auto industry is the biggest exporter from mexico into the u.s. so it's a natural target in that

regard. i've talked to alan baity a number of times. i didn't talk to him at the detroit auto show, but i think what he's getting at is, look, the auto industry creates jobs in the united states. if you go back to 2008, 2009 when we were at the depths of the auto meltdown if you will and the bankruptcies of gm and chrysler, since then it's had the biggest job growth of any industry in the united states. so they're looking at this saying, wait, we're creating jobs here in the u.s. we also manufacture in mexico because of nafta. if that changes we're going to have to be pragmatic and change with it. we're not the only industry here. that's the feeling of a lot of people in the auto industry. >> meanwhile, josh, it's not lost on mr. trump. somewhere we have video from the campaign of him he says explicitly i want to see more iphones made here in the united states. i mean, but -- but apple has not really responded that much and let's face it, it doesn't make as much economic sense for them to make them here in the united states, does it? >> yeah, no.

certainly, bill, on a campaign trail trump took a lot of shots at tech broadly. amazon, google and apple. i think, you know, apple can and probably will respond to trump saying, listen, we do directly employ some 80,000 people here. that doesn't include our suppliers. that doesn't include the universe of developers writing apps for us. and we do manufacture stuff here they could say. they are manufacturing macbook pros, components and processors. when you talk to people who actually really study global supply chain management they will say it doesn't make a whole lot of economic sense to bring any kind of large low scale assembly line work back here for apple or anybody else. the economics aren't there. the same people by the way will say the politics could make sense to bring maybe smaller targeted manufacturing back here if you want to stay on the good side, for example, of the leader of the free world. >> yeah, trump it up anything you're doing at this point. thank you, both.

phil, josh, appreciate it. on apple and gm. >> i heard what you did there. >> we have an update to an apple story we brought you a few weeks ago. the company fixing a battery flaw highlighted by "consumer reports." the magazine's test of the latest macbook pro plus lasted 3 3/4 to 19 1/2 hours. apple says it has fixed a bug that was affecting the battery life and that consumer reports uses safari in tests that are not used by consumers. we respect "consumer reports" and we're glad they decided to revisit their findings on the macbook pro. no, it was not your imagination because the music was playing. it works the same way, when we talk music plays. we've got to go and we're going to do that right now. we've got 40 minutes -- it's going to get louder as we go. the dow up a whopping 2 points as we head towards the close. yahoo!'s ceo marissa mayer leaving the board. the company is spawning an off shoot named altaba.

details next. and stick around for a great lineup of ceo's, milan's heather bresch, editas ceo bossily and the ceo of domino's pizza all weighing in on donald trump presidency and how they expect his presidency to impact their businesses and their stock. coming up. and thousands of miles away. with the help of at&t, red bull racing can share critical information about every inch of the car from virtually anywhere. brakes are getting warm. confirmed, daniel you need to cool your brakes. understood, brake bias back 2 clicks. giving them the agility to have speed & precision. because no one knows & like at&t. what are you doing? getting your quarter back. fountains don't earn interest, david. you know i work at ally. i was being romantic. you know what i find romantic?

a robust annual percentage yield that's what i find romantic. this is literally throwing your money away. i think it's over there. that way? yeah, a little further up. what year was that quarter? what year is that one? '98 that's the one. you got it! nothing stops us from doing right by our customers. ally. do it right. let's get out of that water.

welcome back. here's a look at shares of

yahoo! which are up 2.25%. ceo marissa mayer and co-founder david feela will leave the board. that's after they get the core internet businesses. this bill makes it all the more likely that this is going to be moving forward. >> the remaining business, they've got a name for it already. altaba. their holdings will include yahoo!'s stake in alibaba and yahoo! japan. that's where it comes from. altaba comes from the words alternate and alibaba. i was hoping for wohoo. >> altaba. >> on we go. the music is about to play. 34 minutes left in the trading session with the dow down two points. a leading trader will tell us what he's watching coming up. don't miss our interviews coming up with milan's ceo heather bresch, editas ceo and

domino's ceo with how president-elect trump's regime will affect their company and stock prices.

30 minutes of trading left on this tuesday with the dow down 30 points. kenny palcari from o'neill

securities. here we go again, sideways trading. >> except for the nasdaq. it's interesting, no one is talking about it. they're all worried about dow 20,000. nasdaq and s&p made new highs but they weren't sexy and dramatic so therefore we didn't get anything. >> what catalyst are you looking for? >> earnings friday. listen, tonight you have obama's farewell speech. tomorrow you have trump's here i am speech. i think really the market's waiting for friday. earnings are expected to go 3% this year. they're expected to grow double digits in 2017. are earnings going to be able to grow at the rate the market's expecting? anything off that mark is going to cause the market to pull back a little bit. >> very quickly, bill gross said if we get above 2.6% on the ten year the long bull market and bonds is over. if they move appreciably higher, when do they start to crowd out stocks? >> listen, i think the number is

3% that will really crowd out stocks. once you get to 2.6, 2.7, you'll start to see the market struggle more. i think 3% is when you'll see the market back off of that. >> not there yet. >> not there yet. >> thanks, kelly? >>. >> thank you, guys. nasdaq composite going for another ride. bertha coombs is watching. >> the nasdaq continues to be perfect in 2017. 6 for 6. up six days in a row for a very strong gain. it really started with the large caps. that's where you've seen the biggest gains, but not today. apple has been sort of waivering in and out of positive territory and the names are a bit of a brag with large caps not really the cap stallout. take a look at some of the new highs coming from pacific continental bank. that's the best performer in the russell 2000. columbia banking is 644 million.

ho hostess brands, twinkies, doing well. biotech is really the reason why the nasdaq is doing as well. take a look at the i.b.b. up six straight days, 8% gain, kelly. that's what's driving things with the jpmorgan health conference. >> yeah, it's helping the small cap russell's as well. strong start to the year. it's time for cnbc news update for sue herera. >> kelly and bill, here's what's happening at this hour. vice president joe biden speaking to small business owners who have earned awards from the motor city match program. he called that program a huge success in helping spur new businesses in detroit. >> because of the grit and determination of american people, there's no quit anywhere. there's no quit anywhere. it does not exist. it never happens. there is no quit in american people. we went from crisis to recovery on the cusp of resurgence. california's governor jerry

brown proposing $122.5 billion state spending plan. he warned of a looming $2 billion deficit because of falling tax revenues. it was his opening salvo of six months of spending negotiations ahead with state lawmakers. and a deer jumped through a window into a lexus dealership in rosswell, georgia. the poor confused thing running through a dealership before the car salesman eventually got it out, emphasis on eventually. no word on whether the deer returned any of the follow-up sales calls. my personal opinion is he thought it was a john deere dealership. >> i have all kinds of lines going through my head right now but we don't have time. >> thank you. >> you're welcome, bill. >> on we go. health care live from jpmorgan. >> meg terrell.

ka treen bosley. meg? >>. >> one of the hottest new technologies. you can explain what this is. >> i'd like to introduce you to this. that's what this technology is all about. the idea is pretty straightforward though. what if you could repair broken jeans. dna is at the root cause of who we are. if there's serious diseases, our goal with this technology is to repair those broken jeans. >> tell us about this.

>> this is one of ours. >> this is our first program into clinical. they are going to file an imd this year. the program is to treat a form of genetically driven blindness and our approach with editing the gene that causes blindness would be to try to arrest the progress of that disease. we hope to bring that into clinical development later this year. >> do you have a question? >> i'm just fascinated by this as megan will confirm. i'm into dna anyway, but the editing of this. do you wait for the symptoms to show or do you know ahead of time that somebody has a predilection for this disease because of dna testing? i mean, how is that going to work? >> well, it really will depend on the disease, and that's part of how we think about what to work on, is to try to find patients earl whether i in the disease process so that we can hopefully give the biggest benefit possible.

and the progress of dna testing actually helps with that. >> and, katrine, this is kelly here. i'm just wondering as you're pushing at the forefront of this industry, do you think there needs to be a set of ethics to avoid what some people are calling market based eugenics as this technology is becoming adopted? >> ethics is at the core of what we do every single day. we think about the ethics with regard to patients, with regard to drug development. it's part and parcel of who we are and what we do. certainly there are many, many standards that have existed for decades to help guide us in this how do you do clinical development appropriately. and also engaging with patient groups, with the fda, with clinicians. we take that very seriously and we want to make a big difference for these patients. we think we have a technology that can do that. >> when you think about actually repairing broken genes, what are the limitations to what this technology could be applied to? are we talking cancer, alzheimer's? anything we understand the

genetic underlying basis of? >> well, that's one of the great benefits of the progress that's been made in understanding the human genome over the past 10, 20 years, we have a much better idea of what genes lead to what diseases and now that we have the technology of crispr to address that, we have a lot of knowledge what to go after. for example, genetically driven blindness i mentioned is one disease that we're working on. there are approaches to cancer. there are approaches to diseases like cystic fibrosis, muscular dystrophy. the knowledge of how a genome relates to a disease has helped enable what we can do at editas medicine. >> i have to ask you about the patent case going on in crispr now. it's one of the hottest stories in science. how much does the outcome of that case affect your business? >> we're building a business for the long term and we actually have a lot of confidence in our patents and our intellectual property position. we have 35 issue patents, over

400 patent applications that span across the field and we have a lot of confidence in that so that it can really enable us moving the science forward, making medicines and getting them to patients. >> just really quickly, is it a winner take all situation or can multiple players exist here? >> we're excited for the potential for the whole field. we think there are a lot of different medicines that can be made for this technology. we're excited to be leading that field and we hope there will be many medications that come out of the crispr technology. >> thank you for joining us. >> thank you. a lot more coming up from the jpmorgan health care conference including next hour an interview with ceo of mylan. back over to you. >> that's a biggie, meg. >> great stuff. >> meg terrell doing tons of coverage. we look at the performance of these biotech stocks and it's amazing. >> they are now. the one year chart for editas, down $45, now down to 18. again, a lot of the risks

involved in that crazy business there. there it is now. there's that chart. look at that. >> up about a quarter percent. the patent case, how that's resolved will be a key thing for all of this. 20 minutes to go into the close, a little more than that. dow trying to hold on to a gain of 8 points. nasdaq is up half a percent and russell is up nearly 1%. heather bresch was the center of one of the heated sessions on capitol hill last year. we'll talk to her about the epipen aftermath in an exclusive interview. >> should be great. president-elect trump now wants obamacare gone asap despite gop senators launching a delay to find the right replacement. more on the repeal and replace saga when we come back. d the ur. tell your doctor about your medicines, and ask if your heart is healthy enough for sex. do not take cialis if you take nitrates for chest pain, or adempas® for pulmonary hypertension, as this may cause an unsafe drop in blood pressure. do not drink alcohol in excess. to avoid long-term injury, get medical help right away

for an erection lasting more than four hours. if you have a sudden decrease or loss of hearing or vision, or an allergic reaction, stop taking cialis and get medical help right away. ask your doctor about cialis. knows how it feels to seees your numbers go up, despite your best efforts. but what if you could turn things around? what if you could love your numbers? discover once-daily invokana®. it's the #1 prescribed sglt2 inhibitor that works to lower a1c. a pill taken just once in the morning, invokana® is used along with diet and exercise to significantly lower blood sugar in adults with type 2 diabetes. in fact, it's been proven to be more effective at lowering a1c than januvia. invokana® works around the clock by reducing the amount of sugar allowed back into the body, and sending some sugar out through the process of urination. and while it's not for lowering systolic blood pressure or weight loss,

it may help you with both. invokana® can cause important side effects, including dehydration, which may cause you to feel dizzy, faint,lightheaded,or weak, upon standing. other side effects may include kidney problems, genital yeast infections,changes in urination, high potassium, increases in cholesterol, risk of bone fracture, or urinary tract infections, possibly serious. serious side effects may include ketoacidosis, which can be life threatening. stop taking and call your doctor right away if you experience symptoms or if you experience symptoms of allergic reaction such as rash, swelling, or difficulty breathing or swallowing. do not take invokana® if you have severe liver or kidney problems or are on dialysis. tell your doctor about any medical conditions and medications you take. using invokana® with a sulfonylurea or insulin may cause low blood sugar. it's time to turn things around.

lower your blood sugar with invokana®. imagine loving your numbers. there's only one invokana®. ask your doctor about it by name. 18 minutes left. the dow up three points. we have some other movers to tell you about today. valeant pharmaceuticals going up higher selling three skin care brands. cash deal worth $1.3 billion. they also announced the sale of the dendreon cancer business to china for $820 million. valeant ceo tauted all of these

sales on the halftime report. >> we're going to pay down about $5 billion of debt over the next 18 months. these two asset sales help us tremendously to make progress on that. you know, i was with the chairman of sanpower yesterday. it's an important step. there are thousands of more important steps to go. we're excited about this but importantly there's more we need to get done. >> meanwhile, a volatile session for walmart. the world's biggest retailer reportedly plans to cut hundreds of jobs this month. "the wall street journal" says many of those jobs will be in the human resources department affecting employees at walmart's headquarters and in regional offices around the country. walmart cut about 7,000 office -- back office jobs back in september. kelly? >> surprisingly retail broadly is doing okay today. president-elect trump saying he wants obamacare repealed immediately and replaced soon thereafter. john harwood. >> kelly, we've had a fascinating back and forth on what to do of obamacare.

republicans have campaigned to repeal the law for years but they don't have a consensus on replacement. the plan of congressional leaders entering the year was so-called repeal and delay. go ahead and repeal it early in the session using expedited budget procedures but take a couple of years for a transition to a new plan that they would continue to be working out. then you have members saying, no, we can't leave the country in limbo for two years, it could be chaos in the insurance markets so a growing number of republican senators were saying let's slow down the process and not repeal until we have a replacement. donald trump today put on pressure saying, no, we cannot do that either. we need to repeal immediately, perhaps as soon as next week, but also put as much pressure as possible to have a replacement law soon thereafter and paul ryan came before cameras today to say he's on board with that, too. >> without delay we are taking action. we are putting in place the tools necessary to keep our

promise on this law. we're acting quickly because obamacare is failing. you have to remember this, obamacare is failing. >> now we still have considerable uncertainty over exactly how this is going to come out and what the timetable is going to be. again, much easier to repeal obamacare than it is to figure out what to do with people who would lose insurance if it were repealed or if insurance markets are put in short-term turmoil. republicans just beginning to work out those challenges. >> you know what i hear, though, with mr. obama's comments today, a ceo talking and a negotiator talking. even with his own people, right? i mean, they are trying to figure out the time line and he's giving them an ultimatum at this point. you wonder if this will be the evolving relationship between the executive branch and the congress as we go forward right now, right? >> yes, it will be an evolving relationship, but some of it's shaped by the idiosyncratic qualities of donald trump. he is not steeped in policy.

he has not done public policy before and, in fact, in an interview with the "new york times" he expressed some uncertainty about exactly what the congressional time line is going to be. so not clear precisely what he was disagreeing with and i think you're going to have a continued back and forth perhaps facilitated by mike pence, the vice president-elect who does have experience on capitol hill and help the incoming president have a better sense of exactly what's possible and when. >> all right, john, thanks. it's all fascinating to watch it unfold. in fact, tomorrow don't miss mr. trump's news conference that begins at 11:00 a.m. eastern time. his first one since the election. should be very interesting. >> immediately after we hear from the president himself tonight. >> exactly. that's 9:00 p.m. eastern time tonight for mr. obama. heading to the close, 14 minutes left in the trading session. the dow down four points. >> after the bell an exclusive interview with mylan's ceo

heather bresch. the lexus rx, rx hybrid and rx f sport. this is the rx...elevated. get up to $5,000 customer cash on select 2016 models. see your lexus dealer.

welcome back. we've got about 11 minutes left.

art cashinsaying the market closers very fitting. $150 million to sell. pretty much a non-event here. >> markets are now negative. the dow has dropped 15 points. the nasdaq and the s&p are still hanging on to gains. joining us on the floor of the big board, dan mcman from raymond james and from tiaa. are you with them or against them? >> in the long term, we are with them. we believe we are in the midst of a secularable market. could be short term volatility. most of it driven by politics in washington, d.c., specifically. concerns about trade wars and of course we've got earnings right around the corner. >> yeah, coming right up. what about you guys, brian? how do you feel about the nasdaq among others has been at record high levels? >> right now u.s. stock market is not our favorite place to be. i think this is probably a prudent pause. we're not expecting a pull back. if you expect to see earnings

numbers come in stronger, you may not expect to see it come in one for one. the market is well in excess of earnings. >> where are you going for income? we're all talking about bill gross's comments that if the ten year gets above 2.6%, the bull market that's been in place since 1982 back when paul volker started to loosen the reins, maybe that bull market is finally over. what do you think? >> we've seen the bottom. i point out it's been six consensus bottoms. we do think this is going to be the one that will mean a bit of a headwind. every tick up we see in interest rates in the u.s. means forward looking returns on fixed income has gone up a bit even though you may not be happy at the time. >> if you have a lot of bonds right now, that's a problem. dan, there's that. there's also i see here that you like energy at a time when oil prices have been falling and people aren't sure whether this opec thing will stick. how confident are you in that

sector? >> we are reasonably confident particularly in 2017. we think it was well over done to the down side. we think it will rally and be overdone. longer term we like about $60 a barrel. >> what about financials? people don't feel the earnings season begins until friday when the big bang starts to report here. if rates continue higher, that's great for the banks. they love these things right now. are you in that camp? >> not necessarily. they've had a pretty good run. i base my call on what we're hearing from our clients. i think people were well under weight. that's why we had the huge run. i think people are comfortably weighted, not necessarily getting overweight. adding to those where they're still under weighted. as my trader said today, the only certainty right now in fig is uncertainty. >> what about interest rates going back to the discussion with brian. do you think that has to be true for the banks to do well? >> we do. we do think that they need some help from that side, it's just a question of how many rate hikes are we going to get in '17.

no consensus on that right now. >> you saw jamie dimon make some remarks about how the pace of growth and rate hikes would have to be more than the market is expecting. >> he would know more than i. >> that's the idea, i guess. >> where do you go to find good equity growth if you don't like the u.s.? >> i think the sectors that have lagged after the election, consumer discretionary, technology, not the most fashionable places to be. those are the places our portfolio managers like especially if we get an acceleration u.s. growth this year to next year. >> health care? >> under weight health care. >> we have seen a rally into health care. particularly given the thought that obamacare will be changed if not repealed outright. we've seen a huge rally there. maybe now a bit of a pause. >> try to figure out why. this idea that it's going to be repealed is supporting the health care stocks, the same ones that rallied because we had obamacare? >> yes, indeed, because it didn't work out as planned by a lot of estimations. you're going to see some more

volatility. you saw mergers announced. you haven't seen that in many months. there's positive momentum. >> puzzling sector because it was one of those that was lagging as the market expected hillary clinton to win. when she didn't win, it never popped. >> puzzling is a good way to put it. >> especially after mr. trump is talking about capping drug prices anyway. we're still waiting to see how that will unfold. good to see you. thank you very much. going out with a ten point decline now on the dow but the nasdaq is looking for a record on this tuesday. we'll have the closing countdown in a moment. when we come back after the closing bell, look for accelerating global expansion in 2017 and our interview with patrick doyle, the ceo of dominos, to tell us about a slew of crazy new products that they have as they become more and more of a technology company. stay tuned.

♪ ♪ ♪

this is my retirement. retiring retired tires. and i never get tired of it. are you entirely prepared to retire? plan your never tiring retiring retired tires retirement

with e*trade. i'm in vests and as a vested investor in vests i invest with e*trade, where investors can investigate and invest in vests... or not in vests. sign up at etrade.com and get up to six hundred dollars. about 2 and a half minutes here with the dow down 19 points. let's focus on what really is making money from the standpoint of an all-time high. that would be the nasdaq. nasdaq composite now six today running of gains. it's the third day in a row that looks like we'll have an all-time high for the tech heavy inbe decks. now i want to look at one-year charts. for this reason we are going sideways again. we talked about this at the top

of the hour. the dow in the last year we've had two rallies. the first one after february 10th when jamie dimon last year said he was buying his own stock. market took off. then it was sideways until the election. the same thing down there. sideways we were caught in a trading range for a while. until after the election. then it took off here and we did touch that 2.6%. that rick santelli and bill gross talked about today, that if we get above that appreciably, then maybe the long bull market going back to 1982. we're at 101.99. we're at the 103 range. oil, we all know the stories.

they wait for opec. we've been touching that $50 level. some people say maybe even $60 unless u.s. production picks up appreciably, which it's starting to show signs of right now. >> it almost touched 50 today. that ruined our little rally that we had going here. >> by the way, rex tillerson was nominated december 11th by president-elect trump, and you know what's happened? that was the top forex on. it's down 6% since december 11th. down six days in a row. this is killing our dow 20,000 rally. chevron is not helping either. i do want to point out we had an amazing day for the metals stock. freeport, glen core, look at these moves. volley up 9% overall. >> here's the problem. materials are a very tiny part of the s&p. they're 3 or 4% of the market cap. that's why you're not seeing any effect.

>> that's the way things are constructed. the politics of index. we will hit 20,000, i promise you. >> just not right now. thanks, rob. we go out with a 25 point decline for the dow. new record for the nasdaq. here we go again. stay tuned now for the second hour of the "closing bell" for this evening with kelly evans and company. see you tomorrow, kel. hi, everybody. welcome to the "closing bell." i'm kelly evans. on an otherwise quiet market day the dow closed at a market high. take a look across all the major averages. you can see how the things performed. the russell is nearly 1% today. 1370 is your level. nasdaq with a new high close of 5551. it is off to a tear so far this year. we'll have more on that in a moment.

the s&p 500 trying to stay positive as it settles to 2268. the dow dropping .1 of a percent. decline of 31 points. we've got two exclusive interviews coming up for you. first chief executive of epipen, heather bresch of mylan. patrick doyle, the ceo of domino's pizza will join us from the irc retail conference in orlando to discuss what's driving that stock's recent run. joining me on the panel today for the hour is cnbc's senior market commentator michael santolli. and charlie from ariel investments and david nelson. welcome one and all. before we get to you guys though we're going to head up to the nasdaq with the record high close again. bertha coombs has the rundown. bertha? >> record high. sixth straight day of gains. nasdaq putting in its best start to the year in five years. back in 2012 in january it was

up 7 out of 8, so it didn't have a perfect start to the year. it was down the second day but right now we are looking at what could be a record if we continue these marks. although today the big caps were not the big weight in terms of this move here over the last six sessions. it has familiar names. apple holding in above $119 a share. facebook, amazon, google, those four have combined to provide about 40% of the nasdaq 100 gains so far this year. facebook, although down today, up 8% year to date and its market cap today, it fell a little less than exxon did. so it now surpasses exxon at least for the time being in terms of its market weight cap in the s&p 500. finally, biotech is really what's been on fire here and has caught a momentum move that we had seen really drop after that initial response to the donald trump election of 8%, the

longest streak in six months for biotech. >> bertha, thank you. for some comparison as to how well the nasdaq is doing this year from last year, the six day streak is the longest winning streak since 2006. meantime, last year we began and you can see this on your screen there with the longest losing streak to start a year for the nasdaq since 1991. couldn't be more of a contrast, mike, but what does it really tell us about what's going on here? >> it's a little bit of turnabout action. it's looking at laggards. you see what's working today. not reflective in the big caps of the nasdaq. the average stock was up today. you saw autos, airlines, consumer finance. we had a strong consumer credit number. also that sort of job opening and layoffs number. >> the quitters number. >> record number of people leaving their jobs by choice. it feeds in. it's hard to extrapolate from a day with very little net movement. the market seems to want to wait for something right now. maybe it's waiting for the

buyers to get exhausted, but i actually feel like it's kind of gathering up a little bit of strength for its next move. >> it is surprising, david, to see names in the retail index do well. barnes & noble was up there, wayfair, office depot. that tells you how beaten down the sector has been more than anything. we're looking for pockets of strength that could drive us higher here. >> look, it's earnings season. at the end of the week we'll have jpmorgan, wells fargo, bank of america all going to be reporting. they have to justify this massive move that they had. of course, we're going to be looking at the guidance. we've had this myopic view on pushing the market higher in the trump rally. i think we've largely put that in perspective. i think that's largely happened. now we're back to the blocking and tackling. we have to deliver on some of these earnings. we have to remember that a lot of these programs that we're looking to see going out to the trump administration, they're going to have to deliver on that. and they've still got congress to deal with. >> it was a trump rally for four

weeks after the election. since then it's been about earnings rebound and people getting more comfortable with rising yields which they have to do for the stock market to work. >> also, the data for that period is coming through. sentiment stuff, you see it and you're reminded again how much things have changed. >> sentiment has gone up as much as the market has. it follows lock step. >> right. charlie, we want to bring you in here for a second. you had recently gotten more cautious on the financials, right? >> no, that's right. we value every stock relative to our calculation of its intrinsic value. financials had been very cheap relative to intrinsic value. this last rally some of them have gotten very close. they've not overvalued, no bubble but they're not cheap like they used to be. >> citi downgrading goldman, same kind of reasoning. actually, on the financials, let's get to dominic chu. he's had more on the run of the election and the volume that's

been drying up lately, dom. what's the selloff? >> it's interesting like charlie just said, there are at least a number of these names in the banking sector that have run up a lot. and perhaps giving some traders a bit of a moment of pause here. if you look at the q ef that attracts major parts of the banking industry, the kre, the regional bank etf, both of those you can see since the elections have gone up a very, very long way in a very short amount of time. we are now trading in areas where many say that perhaps we don't see very often relative to where they trade on an average basis. that's giving some traders a moment of pause. if you talk about the volume picture overall, yes, we are still kind of neck deep trying to get out of the holiday season. volumes have been down for many of these major sector etfs. look at the volume dropoff. this is the financials. xlf over the past ten days traded 45.5 million shares. over the last ten days, 42 odd

million shares. over the past 30 days and 60 days, check out the volume dropoff. yes, the holiday season does play into that, but many of the other sector etfs haven't seen the volume dropoff so perhaps a little bit of caution at least with the trading aspect. this week, rather, is a big week for these bank earnings. if you take a look at some of the sector standouts. if people are maybe cautious on financials, where has the action ben or where is it going to. health care stocks, we've been talking about the jpmorgan conference with meg terrell. health care up 4% so far. consumer discretionary and technology both up 3%. these three sectors along with financials represent the biggest sectors. where people are looking at where the financials run has gone and where it could go, it will depend on earnings. where it's going right now is in some of the beaten up names like in health care, also consumer discretionary, guys, back over to you. >> thank you, dom. charlie, what about health care?

can that drive the whole market this year? >> i'm not sure about the whole market but i'm glad you brought that up. as we look at the cheapest sectors right now, health care is number one. zimmer is the stock i love the most there. hips and needs. it was beaten up over concerns about what mrs. clinton would do to the industry, what donald trump would do to pricing. frankly, there's more of a recognition that there's going to be health care demand throughout 2017. this is still a growth industry. names like zimmer trading at 13 times earnings are off to a great start in 2017. >> hang on, everybody. we have some breaking news on the world bank to get to with eamon jabbers. >> the world back is out with 2017 global economic prospects report, and in there a little bit of mixed news for the incoming donald trump administration in terms of the world bank's analysis of the economic impact here. they're saying that trump's proposed tax cuts could boost u.s. and global growth, but they

also warn that trump tariff proposals could trigger protectionist retaliation. the world bank is notching down its global growth outlook for 2017 to 2.7% and the world bank is also saying that weak trade and feeble investment along with uncertainty are harming global growth. so a little bit of a mixed bag there for donald trump and his incoming team as they get prepared for the inauguration next week. the world bank warning that trump's tariff proposals could trigger protectionist retaliation. overall the tax cut could boost u.s. growth. >> eamon, thank you. not terribly surprising stuff. it makes you think of one of the market themes, patty dom brought to our fore, joe six-pack and this was a bank of america/lynch feed, davos man, quantitative easing, probably long bonds and joe six-pack, no, opposite kind

of thing. more inflationary. >> it's a little bit more optimistic about the economy. that was probably a big part of the reason why the democrats lost the election. they didn't have an economic mission. this is as good as it can get and i think that's why they won. >> yeah. >> but i'm going to push back on some of what charlie just said. i understand the compulsion to want to sell the financials here. they've had an enormous run. there's a sector that's done nothing for a decade. on the long books of a lot of companies, huntington bank shares, their loan book is 60% adjustable rate. if the fed raises rates, they're going to be missing money here. i think there's a lot more up side to some of these names. >> that might be. the financial sector has outperformed the s&p for the past two and five years. it's not as if it's just been sitting there doing nothing for a while now. $7.5 billion went into the xlf etf since the election. it only has $23 billion.

basically people chased this trade in the short term and -- >> in the short term they chased it. >> it's also performed well if you look back on a two and five-year basis. i feel as if it can still work, but not because everyone hates these stocks. >> i want to talk about if you should be long davos man? >> main street. >> totally. >> it's main street versus wall street. >> wages -- >> totally. >> profit margins. >> power shift, exactly. i'm long street smarts, short book smarts and he said market participants are responding positively away from the move away from book smarts and towards street smarts and other things. charlie, you do you think there's something to this whole idea that the power -- the whole theory around the markets is shifting a little bit from the last eight, nine years of financial regulation and, you know, people kind of running things out of washington who are

being much more decentralized and maybe more innovative and start uppy kind of culture? >> sure. i wouldn't overplay that but there are some things that are absolutely true. we're not going to have the billion dollar fine for wall street banks that we've had in the past. frankly, joe six-pack, use that cliche, is feeling better about things today and that matters. confidence matters in housing starts. confidence matters in consumer spending. confidence matters in people buying a new house, putting their kids through college. joe six-pack, sorry, does feel better today, and that matters. >> yeah. that's exactly right. thank you all for joining us. charlie and david. president-elect trump's pick for attorney general coming under fire on capitol hill today. up next, we'll show you some of the highlights of what was at times a pretty contentious hearing. d mylan ceo heather bresch is here to tell us about whether she's worried about trump's vow

to bring down drug prices and the battle over the epipen. you're watching cnbc, first in business worldwide.

take one. directv now. stream all your entertainment! anywhere! anytime! can we lose the 'all'. there's no cbs and we don't have a ton of sports. anywhere, any... let's lose the 'anywhere, anytime' too. you can't download on-the-go, there's no dvr, yada yada yada. stream some stuff! somewhere! sometimes! you totally nailed that buddy. simple. don't let directv now limit your entertainment. only xfinity gives you more to stream to any screen. welcome back. the first of president-elect

trump's cabinet picks was on the hot seat on capitol hill. john harwood has the highlights of attorney general jeff session's confirmation hearing. john? >> kelly, 30 years ago jeff sessions had his first trial by fire. his second got off to a more promising start today. the alabama senator moved to limit his vulnerabilities in the senate judiciary hearing on his nomination to become donald trump's attorney general. he repeated his opposition to the roe v. wade decision legalizing abortion but said he would uphold the right to legal abortion under the law. jeff sessions said he supported president-elect trump's plan to limit immigration from countries with high rates of terrorism but he opposed a flat ban on muslim immigration. he said in 1986 those accusations are simply untrue. >> i was accused in 1986 of failing to protect the voting

rights of african-americans and of condemning civil rights advocates and organizations and even harboring amazingly sympathies for the kkk. these are false charges. >> now most important to wall street are his views on issues such as anti-trust oversight of corporate mergers. jeff sessions didn't offer much detail today but he noted the importance of using government's power very carefully. now generally speaking, fellow senato senators, steve, mostly positive but he will face a new challenge tomorrow when the hearing resumes with testimony in opposition with fellow senator cory booker of new jersey, an african-american and a potential democratic presidential candidate, guys. >> not over yet. thank you for now, john. our john harwood. donald trump also vowing to lower drug prices as president. joining us now from jpmorgan health care conference out in san francisco is our meg terrell

once again who is now joined in a cnbc exclusive by mylan ceo heather bresch. >> thank you for joining us. >> thank you. >> so you guys make the epipen, of course. this is one of the biggest stories in the drug industry this year. how would you reflect on what 2016 meant for mylan? >> you know, i guess as i reflect i would say looking back i think epipen started a very, very important and much needed conversation in the health care space. i think given the coverage over the last six, eight months of just how it works and starting to dive into these issues that i think are, again, very needed for us to get to a meaningful answer and solution. >> one of the things that you really i think brought up as part of this conversation is really the role throughout the system of drug prices and particularly of the middlemen. we had express scripts on earlier and we asked them, do they play a role in increasing or incentivizing raising list

prices and they said no. how do you respond to that? >> you know, again, i'll just speak from what i know, which is the epipen example that i shared, and, you know, when you look at a system where as the manufacturer, as the seller, as the person, as you said, who is owning epipen and we make less than half of that list price, i think that demonstrates an imbalance in the system. so it wasn't -- it was just really about exposing something that much to my surprise, even people within the health care space or people who have covered this issue for a long time were shocked and had no idea of really how it works. and i think that's what obviously started a much-needed conversation. >> a lot of people haven't been having that conversation maybe because they have a lot of power where they place drugs on formulary programs for people to access them. how has this whole conversation and really bringing the pbms

into the limelight affected your relationship with them? has it affected your relationship with doing business with express scripts? >> we have a great relationship with our customers. mylan is more than epipen. it's down in mid single digits what it means to our revenue. when you look at mylan's portfolio, we have over 630 products, over 2700 globally. you look at the significance -- the significant role we play in the u.s. health care system, you know, we're an important player so we have great relations. and it's about our whole product portfolio. our average sales price is 25 cents a dose. last year we sold 1 in every 13 prescriptions is a mylan medicine. that's more than pfizer, j. and j., merck. when people understand our scale, differentiation, it puts

mylan in a unique role. >> you have a very big and diverse business, but the epipen story really is driving and commanding a lot of your attention over the last year. as a result of that entire situation, is there anything you've changed about how you do business? >> yes. you know, look, i think every day is a learning, especially in this industry, and the dramatic shift in the way health care plans are delivering health care to patients has put a patient lens that really never existed from that pharmacy counter interaction. so it absolutely has made mylan a stronger company, me a stronger leader because i'm stepping back and looking through the lens of this dramatic shift and realizing that we really overnight, and i believe an unintended consequence, of having -- consumerizing health care and asking a lot of times the ceo of a household is a mother.

she's taking care of that household. she's in charge of how health care dollars get spent. i truly understand the outrage when you have no idea how much something is going to cost. so as i step back and try to look at everything through an employer and through the patient lens, it gives a different perspective and we're continuing -- and most importantly, if epipen started this conversation, i will at least do everything in my power to see it through. and seeing it through means changing the way that pharmaceutical pricing and the way a patient through that patient lens needs to change dramatically. >> you mentioned that outrage, of course. this really then embraces a populist issue from both sides of the political aisle and most recently by president-elect donald trump, he doesn't like what's happened with the price of drugs. what will that mean? what will that impact mean on you? >> i'm extremely optimistic. i believe he is obviously a very business-minded individual that's very solution oriented

and when you look at how the system works today, you can't help but think it's just -- it's not rational. we don't have a market-based system for brand pharmaceuticals and we have a rebate based system. i'm not saying one is right or wrong, but they are philosophically very different. people in the united states are angry and they don't know who to be angry over about making very personal and emotional decisions about products they need or their children need so if we're going to put them at that front line because deductibles are 8, $10,000. if you look at an uninsured patient until you hit that deductible, so if we're asking them to get engaged, we need to give them the tools and transparency to allow them to shop. i say that people in our country are the best shoppers in the world. we expect the highest quality and the lowest cost. you look at things like plastic surgery, you're engaged and you're shopping and that has happened there. when you look at your -- you don't have those tools. you can't shop, you can't compare so that lack of

transparency, that lack of engaging, you know, those ceos of households, every mother that's thinking about how to afford and pay for needs the tools and transparencies to know how to shop. >> this is obviously very complicated and nuanced situation, but we've seen the president-elect use a very blunt tool in addressing a lot of things he sees important which are tweets. >> yeah. >> are you concerned at all about being the target of a trump tweet? >> i can't speak to his tweets, but what i can speak to is we took a very decisive action on epipen. he appears to me to be someone who appreciates fair and decisive action. i hope he looks at what this epipen issue was and the conversation it started. >> thank you so much. kelly, we have one more interview for you from the jpmorgan conference. back over to you. >> working overtime. thank you. very much appreciated. meg terrell from our health care

conference. breaking news on ford to get to. what now, phil? >> kelly, this is from ford. it's giving its update to analysts in detroit and as part of that update it reconfirms a strong finish to 2016. lower profits, which has been expected for 2017, and then improffered profitability for 2018. the news ford investors want to hear about, there is a summal cash dividend. it works out to 5 cents per share. back to you. >> thank you, phil. you know, mike, it's interesting. we just saw a lot of news from gm today as well. this actually helps their credit rating. >> helps their credit rating, shows you balance sheets in great shape. all these years of near record sales have made them pretty flush. the stock market isn't giving them that much. obviously we're plateauing with sales. it shows that this industry kind of back from the dead. it's sharing a little bit more with investors. >> even after hours ford shares up about half a percent on that

news. coming up dominos ceo patrick doyle explains how the pizza chain has been thriving while so many restaurants chains have been struggling. stay with us. coming up.

welcome back. have a look at shares of chipotle today. up nearly 5% after the restaurant chain showed better than comparable sars. 414 bucks. >> better than comparable shares. if you saw the morning

commentary on this report, it wasn't that enthusiastic. the stock had a brief loss, then it came back 5%. i wonder if investors are starting to say we can see the incremental improvement month by month and maybe it's a hated enough stock that it can turn here because we don't really know what normal traffic is for this company right now in the wake of the health problem. >> there's december comps, 14.7% increase on the year. >> yeah. >> november down 1 point be point 4%. october down 20%. so we've come through the inflection point clearly but overall that comp number is going to not look so good as we get into the normal period. >> no, it's not. this stock never became cheap. it never looked like it was washed out. however, i think a lot of people look at the charts and say december's low is higher than novembers. january's looks higher than december's. like i said, it is hated. 17% of the stock is short. you have a small minority of sell side recommending it. at the beginning of the year i

wonder if they're laying bets for a big consumer turn around. >> more to talk about with patrick doyle. >> it's time for a cnbc news update. >> here's what's happening at this hour. jury deliberations are underway in the sentencing phase of convicted murderer dylann roof's murder trial. roof telling jurors he felt like he had to kill nine church members and he still feels the same way. the prosecution says he deserves the death penalty. iraqi special forces battling in eastern mosul pushing them back and advancing towards mosul university. dozens of civilians fleeing the district to avoid the fighting. they're being slowed by isis tactics of using civilians for cover. part of a colorado highway was closed today after an avalanche covered it with up to 15 feet of snow. that avalanche partially buried one semitractor-trailer. the driver was fortunately not hurt. a french auction house

displaying a nearly $16 million drawing by leonardo da vinci. it shows saint sebastian tied to a tree. it was made during the early years of da vinci's life around the year 1480. it was just recently discovered and, kelly, the french government just about half an hour ago declared that a national treasure. >> wow. >> now they have 30 months to raise the 15 billion euros to buy it. >> wow. they're going to need a pretty penny, that's for sure. >> they sure are. >> it's a beautiful drawing. >> it is. i think they found four previously undiscovered drawings. so it's a great story. we're going to follow it. >> thank you, sue. we'll see you later. bank stocks jump a massive 24% since the election. up next we'll discuss whether the group has come too far too fast or if there are still some bargains in the bank. plus, twitter is facing another lawsuit for failing to stop terrorists from using the social media giant.

we'll see whether these lawsuits have any merit coming up. this is my new alert system for whenever anything happens in the market. kid's a natural. but thinkorswim already lets you create custom alerts for all the things that are important to you. shhh. alerts on anything at all? not only that, you can act on that opportunity with just one tap right from the alert. wow, i guess we don't need the kid anymore. custom alerts on thinkorswim. only at td ameritrade.

welcome back. another record breaker for the nasdaq today continuing its tear as it began the year.

the russell 2000. they're up about 1,000. it doesn't happen that often. 2268.90. we have a news alert on united now. let's get back to phil lebeau. >> the airlines, united reporting december operating performance. what's significant is that the company saw an uptick. down 1.25 and 1.75 percent.

it's certainly encouraging news. >> we have 24.53. i think it was about a 7% increase. >> you like siynchrony in this space. is that related? >> as a credit card provider they're doing a great job branding cars for others. there's a lot of business up for grabs. >> what are you using buying on amazon? it's sink cloe any. >> the credit cycle, where do we

stand? >> good news and bad news. if you have a lot of growth, you have to set aside. >> there's definitely growth right there. we have job creation. >> not long ago we've seen things like sin cloe any on the list trading at all-time highs. >> now we do. a few months ak in late summers. it's short term the market sort of didn't quite it. >> on the auto side there was concern about credit degradation. is it still that overall households have delivered so much.

>> it's different, particularly. >> that's the technology. >> it seems like it's been that. >> if you're behind your payments? in a pickle if all of this takes a turn for the worse. >> in new york city, ipos, the proxy there. >> it's been a while. i like first horizon.

>> the currency by other companies. trade earnings. >> they're submitting records. >> the releases will drive that. >> the deals will get approved. that makes it better. i didn't find a reason not to approve that. >> anton, thanks for joining us. it will be a busy week. >> it will be, friday in particular. >> twitter becoming a target again, this time in a terrorism lawsuit. the families of two american victims in the terror attacks in

brussels and paris are suing social media service for providing resources to isis. illegal precedent the case could set next. we tail stocks under pressure as people are up for experiences rather than clothing sending casual dining names higher. patrick doyle weighs in on the trend and what it means for his company's bottom line coming up. you're watching cnbc, first in business worldwide. go ahead, s. the es and es hybrid. this is the pursuit of perfection.

welcome back. twitter is being sued by the

families of americans killed in terror attacks in paris and brussels last year. the suit accuses twitter of aiding and abetting terrorism and knowingly supporting isis by allowing them to recruit new members and to plan to carry out attacks. we contacted twitter which said, quote, unfortunately we're unable to comment on pending litigation, end quote. joining us is thomas ajamy. thanks for joining us. we want to get an informed take on the viability of these lawsuits. >> hi, kelly. they are cutting-edge lawsuits. are they going to succeed or not? we don't know. a similar case was filed in california and the federal court there dismissed it, but there is some precedent for this type of case and these are the cases that have been brought against banks for having sent funds via the bank vehicle to terrorist organizations. this is the same type of argument that the lawyers in this twitter case are trying to use, too, that twitter knowingly or certainly had the ability to

know that isis and other types of terrorist groups are using twitter as a means of contacting members, as a means of blowing up their image and such. >> tom, we've seen a couple of these as you mentioned that have been filed, but it's not yet become common place. it could, correct, if they are able to collect? >> absolutely could. absolutely it could be. this is cutting edge but, then again, the technology is cutting edge and the use by terrorist groups is something new that we haven't really seen before. so we're at the beginning of a type of lawsuit here. like i said, the financing, the banks have been sued and they've lost some cases for having aided and abetted or having given material support to these terrorist organizations. yes, i think it's definitely a risk, it's a risk for twitter, it's a risk for other technologies, facebook and others too, of course. >> tom, on that bank analogy,

i'm curious. did banks not have some kind of legal or regulatory standard, in other words, a responsibility that was in the law somewhere that they were supposed to be monitoring these things? >> oh, yes. they have a much higher standard than say social media does. they have a know your customer type of rule. there are a lot more structures. the standard would be higher for the banks but the idea of providing any kind of material support and don't forget this anti-terror law is very broad. it would provide any material support to a terrorist organization. you can be liable so the question here, this is a new question, is coming to the forein these social media cases is social media providing material support. and do they have the ability to shut this down? don't forget, twitter has shut down well over 300,000 accounts so they do monitor and they do know what's going on. they decide certain accounts should be shut down. >> there have been other internet companies caught up in

just this general idea of perhaps sort of the internet itself is allowing the facilitation of all sorts of nefarious things. if it happens on their platform or technology, should they be blamed if something goes wrong. is there a clear precedent being set broadly? >> i don't think there's anything clear right now but it is certainly an evolving area. i believe you're going to see precedents starting. this has certainly shed light on the issue and we often see that the congress or the laws trail technology by 5 to 7 years, meaning that this new technology that comes up and comes out but regulation and sort of standards don't -- don't come into effect until several years later. so i think you're seeing the beginning of a movement. this is not the end of it. i think you're seeing the beginning of it, for sure. whether congress might want to jump in or not, i don't know. but i think the courts are definitely going to see some of these cases. >> tom, thank you so much. >> thank you, kelly.

domino's pizza's shares climbing 54%. ceo patrick doyle joins us live to discuss that stock's run and what's next for his company. coming up on "fast money", biotech stocks have been on a tear to kick off 2017. the ceo of gilead will be here in an exclusive interview at 5:00 p.m. eastern. stay tuned. i am helping hospitals personalize treatments using billions of data points. and working with medtronic to predict the highs and lows of diabetes, hours in advance. and i am working with orreco to use biomarker data to boost the performance of athletes. hello, my name is watson. working together, we can outthink anything.

welcome back. the icr annual retail conference brings together financial professionals across the world to exchange insights in current consumer and economic trends. our own sara eisen is at the conference in sunny orlando. she joins us with a special

guest. sarah? >> kelly, good afternoon. i'm here with patrick doyle, the ceo of dominos. he just arrived. presenting tomorrow. always nice to talk to you. >> thank you, sara. >> we look at the stock performance of dominos double since 2009. we're talking to investors and they want to know from you, can you keep doing it? >> first, knock on wood, right? it's been a good few years. and i think we've done some things that have been a little different than a lot in the industry. we've really focused hard on the long term. so not a lot of ltos, not a lot of just new products for new product sake to generate some news. what we have been doing is ro looking hard at how do we make the experience better for the customer. and if we do that consistently, we think that will drive long term value and happily we've had a pretty good run. >> technology has been a big part of the story.

>> very big part of it. >> your industry is quite optimistic following the election. consumer confidence is up and corporate tax reform. you pay an effective tax rate of 38%. >> that's right. >> higher than the 35% u.s. corporate tax. >> right. state tax and that's right. >> what would this mean for you? >> well, broadening flattening of the tax would be terrific. so there is discussion 15%, 20% at the federal level, but we're full kind of 35% plus taxpayers. and so we look at it and it's clearly an opportunity. and the discussion around a revenue neutral way, getof exem. what it does for border tax adjustment, all those things. the border tax adjustment -- we're not importing pizza. but we look at all these things. and overall, that certainly would be a big positive. >> you've also potentially got

andy pozner from the industry as labor secretary if he gets confirmed. what sort of policies do you want to see and do you think it will broadly help the industry to have one of your people there? >> i think it would be good. andy knows our industry. and if you look at the labor department, the labor department was really set up to do two things. take care of workers and working conditions. and as well as generate employment growth. and i think what you would see is a lot of focus on how do we generate more employment growth and employment. and from our perspective, the biggest thing that we think about from an employment standpoint is employed people buy more pizza than unemployed pizza. that is the number one indicator, growth in employment. and both because they have more money in their pocket because they're working, but also frankly the more people who are working the more they will value the convenience of a restaurant meal. and so if we can generate

employment growth -- >> jobs, jobs, jobs. >> absolutely. >> patrick, i was going to say, i thought your number one buyers would be college students, but maybe that is just speaking from personal experience. i was also going to ask you about you said you're very focused on the restaurant experience and the customer experience and not about generating headlines. but i just saw there is a tomorrow know's wipable onesie or something that might have come around the holidays. in fact there is a picture of it. so how important are these kind of viral marketing tools to the sense of coolness that you do need to project to stay relevant in this day and age? >> yeah, that was our franchisee in the uk i think they were having some fun over the holidays. but look, you will do things that will generate some news and excitement around the brand and clearly you have something that will get passed along, that's terrific. be but at the end of the day,

where we spend our time and resources and our advertising dollars are on things that we think are going to be a permanent part of the business that will give them a better experience. you've seen a lot around technology. we launched the pizza number a years ago, back to the beginning of 2010. all of those things, though, that will help the experience permanently for the customer, we think will drive the business. >> and technology has been key. online ordering, you have invested a lot and you're working on drones. what is next for you in terms of improving the customer experience and growing the business? >> we're going through reimaging all of our stores. we should have that basically done by the end of 2017. problem with the old stores, they just weren't great looking. wasn't a terrific experience. for about a third of our customers who actually come to our stores as opposed to taking delivery. so we're getting that done. we think there is things that we can do with technology in the store. most of what we've been doing has been really about out of

store ordering, at home ordering. so there are things that i think we can do there that will help. and other things that we won't talk about yet but we're working organization trying things and, you know, it's a formula that has worked for us. >> to continued. also amazon alexa. >> absolutely. exactly. >> she orders dominos, too. >> alexa ordered dominos. turn the volume up. >> patrick doyle, ceo of domino's. kelly, back to you. >> thank you both. we have breaking news back at headquarters on the dylann roof trial. sue herera has that. >> yes, the jury has just come in with their decision and the convicted charleston shooter has been sentenced to death. the jury came back with the death sentence as you know, he confessed to that crime in june of 2015. basically the jury only deliberated for about three hours.

so he will receive the death penalty. and that of course for the charleston church shooting that occurred on june 17th, 2015. kelly, back to you. >> a toll order for david brock. sue, thank you. more he closing bell right after this. iful. what shall we call you? tom! name it tom! studies show that toms have the highest average earning potential over their professional lifetime. see? uh, it's a girl. congratulations! two of my girls are toms. i work for ally, finances are my thing. you know, i'm gonna go give birth real quick and then we'll talk, ok? nice baby. let's go. here comes tom #5! nothing, stops us from doing right by our customers. ally. do it right. whoo! look out. ally. do it right. will your business be ready when growth presents itself? american express open cards can help you take on a new job, or fill a big order

or expand your office and take on whatever comes next. find out how american express cards and services can help prepare you for growth at open.com.

welcome back. did you know some of your favorite tokens from the classic board game monopoly may soon no longer pass go and clekollect t $200? fans can go online and vote on the game pieces that will be included in the next edition. there are upstarts like the hash tag and emoji takes. so here is my question, what would be your face if you had to pick it and what is the piece supposed to be? >> yes, typewriter for sure. i always go old tech lud item stuff. i have a vintage remington typewriter. >> what is the monopoly piece supposed to be, is it a mode of transportation? because i looked on the website to pick out my own and i got so

overwhelmed. i had to pick the tortoise to slow everything down here. so what in the world is going on? >> do you think it should be like sorry, just different colored place holders? >> i don't know, but i don't understand the whole concept. >> this is how you refresh interest in an 80-year-old game. >> thank you for joining us. that does it for us. "fast money" begins right now. ♪ happy anniversary, baby, got you on my mind ♪ fast money's ten year anniversary week starts right now. live overlooking times square, i'm melissa lee. your traders are on the desk. and tonight, we have three major guests on tap. qvc of gilead will join us to talk about the huge move in biotech stocks this year. plus big banks could be in big trouble. and