>> a remarkable day in what has been a remarkable rally for stocks was "speak, dow jones industrial average up 443 points crossing 24,000 for the first time ever earlier today and holding firmly above that that does it for us. "power lunch" begins right now we're going to pick up where scott just left off. i'm michelle caruso-cabrera. what's on the menu, mentioned, a monster rally on wall street dow hitting 24,000 for the first time ever. is 25,000 in the cards before the end of the year? one of the big at licatalysts, out of d.c. on tax reform. john mccain is in. live on capitol hill and wall street this hour amazing amazon that stock up 55% this year and just got the most bull ish call yet. the analysts who made it tells us why he thinks the bang will rack up huge double digit gains even from here and chip stocks had a rocking

year amd left out of the party recently stock down in 2017 a rare exclusive with amd ceo. her plan to power growth a 24 carat edition of "power lunch" starts right now. ♪ move yeah what y'all trying to do ♪ all right, bruno mars may make want to dance but these numbers on wall street will certainly get you out of your chair. welcome to "power lunch," everybody. i'm tyler mathisen dow, best day of the ye so far final trading day of november. the dow giving ply son macke a wonderful birthday present happy birthday mack! best day of the year dow, s&p 500, russell 2000, small caps and transports all hitting new all-time highs the dow up triple digits this hour look at that, topping 24,000, 25,000 in sight. intel, united technologies, goldman sachs, visa, other

movers, cvs aetna higher cvs closer to a deal to buy the health insurer price between $200 and $205 a share. sears higher struggling retailer posting a smaller than expected loss michael's companies soaring. double digits. arts and craft retailer beating profit estimates, and bitcoin. bitcoin dropping sharply again today hovering just above 95 -- 9500 ryan >> happy birthday to macke dig steak, all the trimmings tonight. i mean solid gold flakes. top story today, call the energizer bunny market rally, just will not stop. dow 24,000 bob pisani, never at a loss for hyperbole, running out of adjectives admit it >> gets tighter and more difficult to describe. a very short road to 24,000 from

23,000, folks. want to show you the dow a price weighted index october 17th, 23,000 now at 24,000. heading towards 25,000 dow's a price weighted index highest priced stocks in the dow. of course, boeing. goldman sachs, 3m. other big names. united health. home depot now should not surprise you these are the companies that had the biggest gains for the dow in the road from 23,000 to 24,000 take a look. united health, 3m, home depot, walmart. put that together, a couple others in there. boeing, apple as well. apple seventh biggest stock by price weighting, those six contributed. all well diverse health care, industries, retail, technology, nice group decliners, smaller priced stocks what i mean. dow price weighting influenced

them ge, smallest price and even though a terrible quarter, only down 32 points affecting the dow 32 points and merck one of the smaller price stocks you can see. influence not as great on the down side. a point about today. we talk about what kind of premium there is in the market for tax cuts we saw at roughly 1055 was it? senator john mccain announced he would support the tax bill, that's when the market moved up. bigger volume since then dow's move the 15 points since that announcement was made still premium for tax cuts in the market back to you. >> see it there on the intraday chart over your shoulder which brings us to elon. from wall street washington. why this stuff is happening. pisani just said new developments in the race for tax reform senator john mccain says he will vote for the bill. does that mean it has the votes to pass? elon is live. >> reporter: the votes appear to be coming together for

republicans as the senate is deep into debate on the tax bill with john mccain becoming a yes. he was a crucial swing vote here for republicans and he put out a statement that said he doesn't think this is perfect legislation, but he does believe it brings much-needed relief to american families. now, another key supporter here is lisa murkowski of alaska. she was someone who had not supported the health care bill, but she is for the tax bill. so republicans are getting really close to locking down those 50 votes they need to pass this legislation there is still, however, three very prominent undecided lawmakers including senator ron johnson, senator bob corker and senator susan collins. but they all are working through their issues with leadership republicans have already agreed to increase the deduction for pass-through businesses to help appease ron johnson. for bob corker, working than fiscal trigger automatically increases taxes if federal

revenues fall below a certain threshold and for susan collins, she's gotten assurances republicans will take up a legislation that would stabilize health insurance markets as part of any deal over year-end spending negotiations. there's support for another proposal she had, including the $10,000 deduction for property taxes that was in the house version of the bill to put that in the senate version of the bill so there is still a lot of horse trading happening here today, but senator mitch mcconnell, leader of the senate republicans, said he does expect a vote to happen either late tonight or tomorrow morning. back over to you. >> and elan, just need to turn one of those three undecideds, right? got the numbers right? >> reporter: still a few more f. those lead it. >> prediction, 93% chance now

that this gets done. 93% almost all the percent according to my math. >> reporter: said it jumped 15% when senator mccain announced a yes vote i don't want to say it's a done deal, but a lot of momentum and closing in on that solid 50. >> all right thank you very much. elan muy on capitol hill more from her throughout the day and into the evening. more records played in this market getting rich today, folks. the dow, the s&p 500 russell 2000 transports, all of them, simultaneously, hitting record highs. is this market unstoppable or are we nearing final innings doesn't feel that way today. bring in cnbc contributor dennis gartman, and john mariel let me start with you, if i might, john. a lot of people have been saying recently that the market had not priced in yet the power and potential of tax reform.

is that what's happening over these past couple of days in the rallies seen this week >> yeah. i agree with you, tyler. you know, most people think that tax reform, the way it's coming out would increase the corporate earnings and in the 7% to 10% range. that's 2000 to 2400 dow points showing me it had not been priced in before now that it's looking like it really could come to pass, that it is being priced in. >> does it matter to an investor like you if the final corporate rate is 22% as opposed to 20%? >> you know, a tiny bit. not really you know, i just want to see corporate america competitive again. i think, you know, all of the inversions of the recent past, all of the different companies choosing mexico and other places to go instead of our country for our corporations, i think that

more important than the immediate boost to earnings is that the boost of corporate competitiveness. we can draw in those companies, maintain those companies that will be humply beneficial for not just this year but several or many years to come. >> certainly a lot of long-term benefits, but dennis, in the short term, there's an old saw buy the rumor sell the nupz should investors get nervous the second this vote happens indeed tax reform is passed, we might actually see a sell-off? >> well, we're going to see this tax legislation be passed by the senate either tonight or tomorrow morning sometime. we have to remember, however, the final version still has to go to the committee between the house and the senate to take care of the differences between the two types of legislation then you have to have the president sign it. that will probably be the time when you buy the rumor, sell the fact may still be another week and a half, two weeks into the distance at this point in the stock market where it did do anything.

gone parabolic a wonderful fellow, reminiscence, best book to get, old turkey once said, this is, after all, still a bull market and can continue to go high perp stunning, surprising but still wants to go up, i guess. >> dennis, i wrote on my facebook page, it's like a cabbage patch rush in 1993 i toys toy toys "r" us bitcoin, a huge year the point, everything is up. pardon me if that makes me just a wee bit nervous. where is this money coming from? >> well, still coming from the sidelines. from the federal reserve still coming from out of the sidelines from the consumers coming out of the debt market. coming out of savings. it's just coming, and it will stop eventually. when it stops --

>> when? when do the sidelines run? when the waterboy has no water left on the sideline jthts call us, dennis when it stops, when you know >> i wish i could tell you that, tyler. it will stop one of these days right now it is still a bull market >> gentlemen, got to go. more breaking news back to elon muy on capitol hill with breaking news on a different topic. >> reporter: michelle, nbc news reporting that house republicans are planning to propose a stop gap spending measure that would fund the government through december 22nd. expected to vote on this next week, and if you remember, december 8th, next friday, that's the deadline for them to come up with some sort of deal to keep the government open, or otherwise, risk a shutdown right now what we know that they are preparing a proposal that would keep the government open through december 22nd. back to you. >> avoid a shutdown. all right. when i started at cnbc, three live shots out of washington, d.c. in the a block.

would have been a cold block in hell third shot out of live d.c reports rex tillerson will soon be out as secretary of state eamon javers is live in washington with that eamon? >> reporter: yeah. the white house not denying the report that appeared in the "new york times" earlier there is a plan here at the white house to replace rex tillerson as secretary of state with mike pompeo who is currently running the cia. the white house putting out this statement under the name of sarah huckabee sanders saying simply, as the president just said, rex is here. there are no personnel announcement at this time. the white house simply confirming the secretary of state is in the building here at the white house today, and saying they don't have any announcements to make right now. could that be an announcement tomorrow or sometime next week or in coming weeks we don't know you can imagine over at foggy bottom, where the state department is located they will take this very much as a message of white house intent here it's clear that rex tillerson and the president have not been on the same page for months now starting with some comments just

yesterday. take a look what rex tillerson said on russia yesterday a much harsher tone on russia than the president's been giving russia often employed malicious tactics to drive us apart. the president himself has taken a softer tone on russia when asked about vladimir putin and u.s. hacking earlier this month, said simply, every time putin sees me he says i didn't do that and i really believe that when he tells me that he means it. so the president taking a more conciliatory approach towards russia than his own secretary of state. also we've seen the president undermining the secretary of state saying he's wasting his time negotiating with the north koreans. maybe an ouster here is inevitable at some point, michelle. >> yeah. rex is here. i want to say, comma, for now, how it feels. >> reporter: might be on the verge of rexit, they're calling it. >> and speculation, side note, whether or not he stayed a year owe taxes on all the stuff he had to sell? he will not.

got the certificate of divestiture filed for approved february 7th long number here, anyway he will likely not pay capital gains long as he rolls that into other investments within a 60-day trialframe after departure. >> would have had to do that earlier in the year i believe. had to roll it into approved government investments including t bills. >> february 7th. he did that. yep. >> that ship sailed. already got the savings from that doesn't affect his decision-making here what does, leaving such a high-profile and successful career in business and coming to the secretary of state's position and then leaving in less than a year that would look certainly not like a success, not the way he envisioned this going at all. >> eamon javers, thank you very much. well, an absolutely huge thursday show continues. coming up, three big ceo interviews you can't miss. first, ceo of a pharmaceutical, best performing stock in boston power city index up 250% this

year banks. they've been bank for investors. speak to the head of huntington bank and bitcoin. rare interview with lisa sue, ceo. bitcoin play as well check out this rally as we head out. tyler said earlier, everybody's getting rich today dow is up what 360 points best day of the year i speak for michelle and teryl you're welcome, america. we're back after this.

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dow up 340 points now. pretty much every sector higher. one flat, ten up one dow stock down -- ge if you own shares of this pharmaceuticals be a family who buy as new car with a giant new red bow on it for christmas. shares up 250% this year meg tirrell at the forbes health care summit with the company's ceo. meg, i'm sure, is smiling. >> reporter: thank you, brian. and thanks for being here. >> thank you great to be here. >> brian mentioned stock tripling this year a lot of that in anticipation of approval of your first medicine. even before that drug gets approved you've already put out a pledge how you're planning to think about pricing. tell us about that. >> meg, we've been innovators in r & d.

as we transition to a commercial company we want to be as innovative as a commercial states company as an r & d company and put forward a set of principles we will adhere to as far as drug goes as company. approve not having drug increases beyond the rate of inflation, that 2%, 3% increase that happens annually. our limit. we want to grow through innovation and new medicines we can bring forward and includes working with payers to establish value-based arrangements for our medicines. basically sharing risk where patients and payers only bay for the drug if the drug actually works for the patient that approach will be proactive with all payers we bring forward. these patient access principles are really part of our compass going forward into how we'll d advance the pipe line. >> in terms of pricing pledge, tieing it to inflation, 2.2% a year you mentioned, is that in response to political pressure

and what donald trump has put on the industry >> more than that. about the fact that it's hard to justify drug price increases if you get a medicine and the medicine makes an impact in patients, you price the drug appropriately and where it ought to be priced, what's the rationale for increasing the price every single year? we don't have drug -- car price increases every year so it doesn't make sense and is hard for the industry to defend that overall on top of it we believe we can grow through innovation. we don't have to use drug price increases as a way to ultimately deliver value back to shareholders. >> a lot of companies in your space argue. allergan put out a pledge on pricing limited to less than 10% a year and companies say they need to build a fuel innovation taking price increases and argue it goes to middle men in the system, quote/unquote? >> every company looks at it differently. we have a robust product engine. an ability of generating with our platform a steady flow of new medicines. just don't have to rely on drug

price increases as a way of fueling future growth for the company. so in ways we're obviously looking at our own capabilities and ability to deliver on that growth and think we can do it with unothvation within the company. >> and lead from the bioindustry side how is that looking and the potential entrance of amazon talking with them yourself >> we're interested. obviously, a very disruptive change in the overall description model to have a company like amazon in the space. we'd welcome a conversation with amazon to understand what they're thinking about and how the industry can work together with amazon, just like we work with other parts of the system to understand how we can work together to make sure patients get access to important medicines. >> welcome a conversation but not yet having it with amazon? >> we haven't started. haven't started. talked about having it and hope to have one indeed. >> john, thank you for joining us. >> thank you. >> stay tuned. >> back to you. >> meg, thank you very much. and mark your calendars for

next march cnbc hosts our first-ever health care conference called "healthy returns" focuses on the crossroadses's health innovation and investment featuring top aunt pentrepreneu about the market of health care. mark your calendars. march 28, 2018 right here in new york city. although we're in new jersey for more information to get tickets, go to cnbc.com/healthyreturns. tiger woods starting another comeback today this time says he's pain-free. is it for real this time there's his tee shot on 1 and a big rally on wall street dow up big-time folks. you see it 24,000 more than 1.3% goldman sachs, united health, boeing pushing the index higher. "power lunch" will be right back

tiger woods is back. he is teeing off today in a tournament for the first time in nearly a year. he says he is pain-free, but should we believe that he can make a comeback? joining us, tiger back his tee shot on 1, got a charitable bounce, landed in -- a member's bounce right there. brian saying, playing from the gold tees or the black >> red, gold, whites playing from the tips this time around, down in the bahamas's we're talking about guy with multiple back surgeries. a dui there. he's had a bout with prescription pain medication and i mean, he's back finally, but

the question is, whether or not he is really back. if you look just a little over an hour ago. first tee shot tyler mentioned got the bounce got in the fairway he was minus 1 the last time i checked. but the last time he was ranked number one in the world was actually back on october 24th, 2010 really has been that long. what is that stake for tiger the brand overall according to forbes number sixth best athlete brand out there. it's ironic, because he's fallen now to the second best golfer. mickelson tops him in terms of brand value. slipped 28% in brand value just over last year he has a value of around 16 million to 17 million. at his peak in 2010 worth around $81 million, $82 million, brand value alone. people trying to cash in here. the brand we know most associated with tiger. it's nike. jit we know he's a nike athlete. the guys at eric small, apex market group took a look at brand exposure given tv coverage

on golf channel and nbc broadcasts over the course of this week. $1.7 million, $1.8 million by the time it's done look at that particular issue. nike will get a lot of brand exposure from this particular event. >> thank you very much dom chu. rooting for tiger to hit 'em straight. take a look at the screen. huge rally on wall street. big banks rallying as well all sharply higher smaller regionals going along for the ride huinonanupntgt bk more than 8% just this week the company's ceo joining us, next sure, these are investments. but they're not what people really invest in. what people really invest in, is what they hope to get out of life. but helping them get there takes a pure focus. because when you invest their money without distraction, hidden agenda or competing interests, something wonderful can happen. they might just get what they want out of life, and maybe even more.

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sponsored by comcast business. built for business hello everyone i'm sue herera what's happening at this hour. at her morning news briefing house democratic leader nancy pelosi says representative john conyers should resign after sexual harassment allegations brought against him. >> -- the allegations against congressman conyers as we have learned more since sunday are serious, disappointing and very credible it's very sad. the brave women who came forward are owed justice

however, congressman conyers should resign. >> attorney general jeff sessions testifying on capitol hill in a closed-door hearing into russian election interference he arrived before the house intelligence committee one of two congressional committees leading the investigation. the man accused of a string of murders in tampa making his initial court appearance howell emanuel donaldson facing four counts of first-degree murder the judge ordered he be held without bond until his next hearing tuesday. that's the news update at this hour. i will send it back to you, michelle. >> thank you, sue. standing by at the opec meeting in vienna. talking whether or not they would extend production cuts steve? >> reporter: i've got a piece of paper in my hand and chamberlain, don't i like look it. they decided what we thought from january to december 18. ripping up the last three months

replacing it with a brand new 12-month deal. basically review in june so the date for your diary, june 21st when the next opec meeting will be i think saudis on the committee and oil minister said i will be breathing down the necks of the other 24 members as well making sure compliance is very good issue about russia versus saudi arabia, a difference seen them onstage. embroilment strong as ever the point, there is no light between us we are completely aligned. the only other lit bill of brand new news for oil, nigeria and libya, run-up in production agreed to take a cap in 2018, 2.8 billion barrels where they are in 2017 as well. this is, i suggest, satisfying all kinds of players russians get review half way through the year, saudis a deal through 2018 as well market under pressure, of course, big shell numbers. what these guys are afraid of.

back to you. >> explains with we don't see a big reaction 5704 for the delivery. big rally in the stock market. wow. 118 s&p 500 companies sitting new 52 week highs. delphi automotive, hilton hotels, mcdonald's, citi group among them check out the bond market. two-year yields, fresh highs back to two years. and highest level back to april of 2000. seeing yields rise started to move and learned senator john mccain was onboard for voting for this tax bill get to steve liesman rapid update and one fed officially warning about bitcoin. >> somebody has to inject reality into this party you're having spending numbers disappointing brought down -- reverse, guys. bring up the rapid update

screens. down 0.3%. good job back there. pick your favorite economist, go with it. now at the top, amherst, 3.2%. stanley there followed by the atlanta fed at 2.7 morg morgan stanley down to 2 bottom on 1.7% randall quarles, vice president, strong comments about bitcoin saying digital currencies could pose a risk to the financial system if used widely. not a lot of risk now. not in heavy use if they get heavily used, his concern, what happens in times of stress? will they provide liquidity? will banks, institutions get the liquidity they need? digital currency problems if widely used. not backed by any secure assets. no intrins it value, no backing from any institution at all as far as he could say.

going back, looking. some of the harsher words made by any fed official or by the way, any essential banking official when it comes to comments on bitcoin itself. >> steve >> pleasure. >> rather surprisingly, perhaps no group of stocks better investments in the past weeks than regional banks. etf up more than 6%. names up 10%, 20%, many names. like well fargo, huntington bancorp and suntrust up over the past 90 days completing the trifecta of steves, speaking of huntington, steve steinour, huntington bank's ceo and president steve, thank you for joining us. >> great to be with you, brian. >> okay. your stock's on fire up 15% in i think 90 days' time. however, the "wall street journal" saying that nationwide loan growth is actually slowing. do you think your stock has gotten ahead of itself >> i don't what we've seen all year is

anticipation we have an economic policy agenda complete and there's optimism now that the tax portion of that will complete i think that will be highly stimulative for the economy overall. certainly in our footprint in the largely midwest. >> you think tax reform -- i think people are confused. i say people, i mean, me connect the dots between tax reform and your business getting better outside of the benefit in tax rates, how does it improve your core business, steve >> i think fundamental economic activity expands with a great new tax code coming out. hopefully in a matter of weeks now. for the year i think we've seen a lot of deferred investment and that deferred investment, if you think back over an eight-year recovery, talking a 2% gdp growth now at three and a faction i think we have upside on that growth. >> is the underlying -- i get the idea that -- that all things considered lower tax rate puts more money in corporate coffers and so forth is the underlying demand there,

though, for corporations to invest and expand? i. believe so. largely in our footprint, more labor constrained than any other factor so as profitability increases further off the tax reduction, i believe we'll start to see further wage inflation seeing wage inflation a couple years. that will attract more labor -- >> modest. nothing -- nothing huge. >> right, but that will attract more labor into these midwest markets, which had decades of population diminishments. >> what's the most common loan you make and if there is tax reform, how much of that type of loan will go up and where will you see the most loan growth >> we make a lot of sme loans. >> smauld and medium sized enterprises. uh-huh. >> privately-held companies. we think this will be a substantial boon for those companies and many of them are poised for expansion we think deferred plans for '17 pending some of the policy changes. >> you -- excuse me. you heard, i'm sure, jerome

powell's testimony the other day. one of the things that stood out to me. >> yes. >> when he was pressed by several senators about the level of -- including i believe shared brown of your state, the level of banking regulation and mr. powell really said maybe the level is about where it ought to be or maybe a little lower are you encouraged by that and what would a looser regulatory regime mean for you how would it help you? >> i think the last eight years have ban compounding regulatory set of expansions. some of them going off of unplanned or unknown events, to be fair. bringing those back with a view of making them more efficient. our ccar commission is 20,000 pages. we run a simple business model >> ccar being the stress test? the feds. >> right we would do that anyway but not at 15,000 or 20,000 pages. wouldn't have quite the army of people decked against it that we

have today, and that would allow us to employ more resource into making more loans. same with our capital. going through a one-year test versus changes is circumstances over the course of the year, employ more capital loans. >> i look at regulation and don't spend my time the way you do how many regulators do you have? >> we have -- >> fed, state, you've got comptroller currency. >> ftec -- >> every day, right? >> we do. >> they live with you? >> multiple teams with us, regulators. >> what percentage are dedicated to compliance? >> several hundred that would be dedicated to compliance and then we have beyond that hundreds, many hundreds more in a have interactions with complaints-related matters routinely. >> asking every ceo about sexual harassment of what we've seen over the last several months anything new you're doing? discussions at the board how are you ensuring that these cases obviously, look at them.

they went on for years how is that possible what are you doing >> a number of things. first of all, very aware and empathetic to the victims of this and we've been working on trying to create an environment that's far more open and more inclusive. an example of that would be we joined a group of ceos called the ceo action for diversity inclusion. so got about 300 ceos of the fortune 1000 that are sharing different best practices and that was just formed this year i believe those best practices will also pick up things like sexual harassment, workplace conduct that's acceptable as well there are a variety of things we're doing. those are a couple. >> great thank you so much for coming in. >> thank you. >> appreciate it. >> great to be with you, thank you. get to the bond market rick santelli tracking action at the cme. not just bonds reacting to what's going on. not just stocks reacting to what's going on in washington. bonds as well? >> i know. nice to see the fixed income

market pay a little attention to the big run-up in stocks pair it with what looks like a bill with a good chance to pass, yeah, really is a gun powder market exploding. 24-hour chart of tens, the need thing today a technician, this wasn't that hard the minute we started trading above some key tops, whether 235 or 240, you could just see look at the two-day chart it jumps out at you the minute we hit 240, looks like hit stops, boom, off to the races to some ex-tebts open the chart to the first week in march interesting. march 13th, high yield close nor the year 263. all wait to october 26th, your only close after that high that was higher than we closed at 2016 that was at 246. settled at 245 last year you see where i'm going with this here we are in the cross hairs of that and it's important while all of that is going on, one market seems not to be paying attention

the dollar index can't hold a bid something to pay attention to. michelle, back to you. >> got it, rickster. a & d shares, cashing oinn the crypto currently craze that's next. ♪ [alarm beeps] let our your inner child at the lexus december to remember sales event.

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here for a "power lunch" exclusive, lisa sue, ceo of amd. >> great to be here. >> for better or worse lately your stock trades with the perceptions of the rise and falls of crypto currencies for the novice viewer maybe doesn't understand you make high power processing computer chips and a lot of people use those to mine different crypto currencies. when morgan stanley said crypto currency mine wog fall next year, your stock dropped in a single day does that frustrate you? how important is the mining of bitcoin to your company? >> michelle, the important thing is to really understand what are we all about amd is really about high performance kpooucomputing. we're in the newest came consols, microsoft, sony in apple's new imac pro. working with some of the largest data centers and yes, some people buy our graphics processors for myroning.

it -- mining. a small percentage mid-single digits of the business put bitcoin aside. nobody can predict it on daily basis. talk about the underlying technology which is around block chain. i view that as a positive foundational technology that can change the way we interact on a daily basis. so we are about high-performance computing. go into a lot of applications, and very, very, you know, pleased to participate. >> the rise of block chain means that people will buy more of your stuff down the road >> absolutely. when you think about block chain technologies it's really an opportunity to transform how we do business on the internet, and i think cryptocurrencies is one piece of it. we view block chain as an important foundational technology as i said, it's a small piece of our business today mid-single percentage.

lots of other gruowth. >> what will it be in ten years? >> we have to see how it develops over time it's really about thinking how businesses are going touse block chains and enterprises will interact with each other and the overall market from our perspective, we provide a lot of high-performance computing capability into the data center, for example, and data centers are going to change over time as well. and we view that as a tremendous growth opportunity. >> and esports may be the next football i say that a little tongue in cheek. a huge thing that's your world. does bitcoin hurt you a bit, lisa, in the sense because minomino s are buying up your chips, holiday season at best buy, shopping for their kid, and intel or nvidia processor is cheaper? >> we're seeing gaming is a tremendous growth market for us. we love gaming we are in the game consols, sell

a lot of add-in board graphic cards, sell quite a few graphic systems, and what we've seen is that, this is going to continue to grow. for us, we just passed black friday and actually had very strong results i was actually quite pleased at amazon and newegg. saw our processor sales of our new rising processors triple from -- >> triple? >> from last year. we saw our graphics card sales -- >> wow. >> -- grow strong double digit percentages. bitcoin is a bit overplayed, i would say. really not what we view as the strong evidence driver it's just one of those interesting things that people are asking about, and we love the fact that gamers want more horsepower these new 4k tvs, everybody wants more gaming horsepower the visualization is wonderful there's a lot of growth in those areas. >> tax reform, looks like it's finally going to happen. what would it mean to your company and what would you do with the extra money >> certainly are watching tax reform closely

i think the opportunity to invest more in r & d is so, so important for a tech company we're building our road maps out the next five years actually we're making investments today for the technology that's going to be in computers five years from now so 23 there's an opportunity to invest more in a rmplt a r & d. we'll do t. a lot of audience pays attention, moving stock based on comments on amazon and newegg can you dig into a little more for people that missed it? your consumer-based sales tripled from last year >> right look, we are a product company, and we have been about building great products we have announced ten new product families this year it's been an incredibly productive year for us as a company. and holidays, they're important to us. a lot of consumers decide to spend money around this season, and we absolutely are very proud of how we're positioned in the

keytailors this is really an opportunity for us to grow going forward. >> because we're asking all of our guests who are running >> let me ask our guests about sexual harassment. what are you doing there are people that believe the next big wave of central harassment cases are going to be in silicon valley. they'll lead the media and move some where else. what are you doing and how are you creating an inclusive, safe workplace. >> i think this is an important conversation and obviously, you know it is sad and some of what we are seeing coming out in recent months. you know from our standpoint, being in tech and being a woman ceo in tech, my focus is on

dloo thriving the right culture in our company. it is a culture where females get to express themselves and open about their thoughts that we let the best person wins and we make for that where we are encouraging that it is about corporate culture and how we drive that culture and you know the fact is it is a very important issue right now >> broad com is going to move headquarter to the united states so you can buy stuff >> consolidations over the last few years are interesting. we view there are opportunities for us to look at companies that can make us bigger there are also opportunities for us to really improve your technologies from our stand point, we are all about technology and how do we ensure that we have the best product road map over the next three or five or ten years we'll look at that opportunities. thank you lisa su, good to have you on

the kate snow of amd >> sticking with another hot stock starting with the letter a, the most bullish call on amazon he's coming up today to make that case and another big b interview that you cannot afford to miss, stick around. duncan just protected his family with a $500,000 life insurance policy. how much do you think it cost him? $100 a month? $75? $50? actually, duncan got his $500,000 for under $28 a month.

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all right, stocks surgining everywhere amazon among the gainers of 40% rally. the physical locations actually are most important thing for the company. joining us now is the man that made that call, tom forte, reading your notice really interesting. you are saying retail location is the most important, why is physical the new thing for amazon >> great, thanks for having me on if you look at amazon, i think they recognize when they acquire whole foods if they want to continue to take market share nor grocery and i believe in

apparel that they'll have to go physical when gouyou go to a whole foods physical today, you are just getting started. you can see an amazon locker and you can pick up and return items you purchase from amazon, echo dot was the pop performing device sold at whole foods i think they are getting started of standing their physical presence which will enable taking a lot of market shares >> we have talked about amazon entering many things i think the first time that i read anywhere that you believe amazon could quote, "pull a cost costco" and entering gas business >> exactly 10% of revenues are coming from gas. commercial addresses and not

jer residential so less expensive for them to get packages to locations and for consumers to pick up amazon purchases and not quite to the level of uber but data of where consumers on, on a physical basis all of a great opportunity for amazon >> believe the highest on the sale size. tom, thank you >> thank you >> all right, the dow is up and i do mean it is way up today lets take a look there it is, can i read that 300 points 24240 on pace to be the index's best one day gain this year. apple is one of the stocks that's lifting the dow one analyst says iphone x offspring could end it out higher a look at the staggering come back and the names that are leading the rally.

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what an exciting day we have welcome to "power lunch" i am tyler mathisen the dow is acting like bit coin, jumping a thousand point in a little time and all about above

20,000 at a time we'll break it all down. the iphone x offspring, one analyst says there is plenty ahead for apple and investors should stop worrying and keep buying and we look at the 5,000 cheesecake and some other elaborate things that our robert frank has eaten. "power lunch" starts right now >> robert frank's goal, take the family out look at tharks tt, the dow is crossing 25,000 for the first time ever. as the market goes off, risks up jaus bit something to watch the dow's transport considering hitting an all time high expediter and southwest and jet blue is leading many of the big

games. pushing the dow up intel, united technology and goldman sachs the srt is a positive year to date winning this year, conns way fair and even groupon. >> bob pisani is joining us. >> we are at 24,000. let me show you the path from 23,000 to 24,000 it was six weeks ago october 17th, it is going to hit 20,000 that's the chart of the dow since the beginning of the quarter. dow price weighted we always emphasized that. if you look at the biggest stock by price of the dow in exception of the goldman sachs are the one that is move the dow the most. move up in the stocks a little bit and you have a big move.

take a look at biggest mover, united health and home depot and walmart, this is a well diversified group. boeing and apple, you got a nice group ear, healthcare industrial and retail technology, these six are 20% of the dow worth 60% of the gains. now, the one step ahead of negative impact on the dow's movement were the smaller price stocks this is what i tell you. it is politics of index and ge is the lowest price stock. it had a terrible quarter so far. and merck at 55 points and proctor and gamble at 24 points and chevron 21 points. there it is on the s&p 500 and we went straight up from there we moved up more than 50 points. everybody is out there debating oh, is there any premiums for the market for tax cuts.

i don't know what chart they are reading, it is clear to me there is some kind of premiums for the par market right now the question is how much more will there be at this point? >> thank you very much according to ups, the rally is not likely to en the company is releasing its 2018 investment play book not to bail out of the market too early. mike ryan, cio of the america's at ups michael, welcome, it is good to have you with us >> thank you >> lets start with tax reform. you say that it could boost up u.s. earnings per share by up to 10%. looks like your assumption of what the tax rate would be for corporations of 25% compared with the 20% that is in the current bills. do you think that's where it ends up or are uyou making a conservative estimate there? >> well, we think that when you get us through the reck

reconciliation -- what it does is it translates to the bottom line it is not going to have a huge impact on ged growth about $10 per share. it is difference having 151 so it is a difference between solid year or steler earning >> lets assume it comes in at 25%. what level of growth do you see and what price per dollar of earnings do you see? >> well, first of all, what we are likely to see is you are going to get double digit earnings after that and 15% through 2018 there is still further upside for the market that reform is not the only thing that the marnket is focusd on the fed begins to continue to reset rates and also shrink the balance sheet.

we have to be careful and not attribute anything >> strong head winds or weak head winds of the monetary thing? >> it is a mild head wind because i think a lot of us anticipated of the pack of the fed. inflations will it will start to pick up. >> lets talk about deregulatio s how much of a tail wind can that be and their earnings. if you get tax reform and you have a deregulatory regime and this is an economy that's going a little bit this is a trumpy economy and how much credit does he deserves >> i certainly think of a fair amount of credit will go for the administration and congress as well the regulatory front is under appreciated of how big of an impact it has. there is three regulatory reform that's important while everyone focuses on those

th that's repealed or rescinded, that's only one piece. what's more important is the way we basically interpret and enforce regulations and lastly, it stops the regulatory. one thing of uncertainty in business is held back investment spending is the uncertainty of regulations down the road. >> you are encouraging people to get in technology sector you don't think it is expensive. in fact, it looks like you think it is creating a relative discount >> historically, you tend to see technology trading on much more higher to the market we think this upside to see a rating of technology stuff i do think a lot of it is secular driving here we think this ongoing secular shift towards mobility and the absolute incredible lift that you will get off of the in implementation and big data and not to mention the ongoing and cyber security these are all secular driving

that have powerful impact. >> the importance of the bottom line is result to tax reform, does that make the united states the best place to invest in the world right now? >> we are pretty evenly split in terms terms, we start to see other markets emerging markets the rest of the world. remember we are further down in the monetary cycle we get a little bit of a tail wind we are evenly distributed and we like the developed and emerging markets but we don't have any strong preferences on u.s. person or non u.s. that's still largely play on the dynamics mike ryan, ups, thank you. >> so much of the show including retailers maybe able to amazon proof their holiday sales. there are some, we'll have the list another big interview, the ceo of the pharmaceutical talks

anweonhis plan, of regener d 'll bring you the most expensive piece of cheesecake. we'll be back after this

. massive rallies. >> earlier this year, do you remember this? the market was acting like every single retail stock was going t go out of business we on "power lunch" asked if retail stocks are under valued some of you thought they were. you have been correct. look at these gains in the formally beaten up retail stocks of the last few months cons, -- conn's and buckle and

ambercrombi & fitch at 42% lets bring in randy registrar when, chief investor officer with warren and financial service. it is whhard to believe, i don't think any one group of stocks have been hotter than retailers. why in the world does that deser deserve? >> you allude to it when you say these stocks have been beaten. we are calling it the amazonification where everybody is going to take their businesses away from them. >> who's been hurt the most in that group people thought urban outfitters, people thought they were toast

is urban outfitters is the perfect example of everybody pan paniking at the wrong time in stocks they are creating an experience at their stores and people want to come in at their stores and that's really important. you cannot come into a warehouse and expect for people to buy stuff off of your shelves. you have to create a little bit of an experience otherwise people are going to go to amazon and those companies that are just warehouses are going to get amazon >> there is the big rally, randy , on the tax market of corporate america, what would that do for retailers in particular and are there some that were on the edge that may survived as a result. >> absolutely, most of the retail industry is paying upwards of 30% tax rates so if you get some where of a 3 13% or 14% or 15% tax cut then about 20% more profits are going

to drop at the bottom line it is an exciting things for these retail companies basically to get this huge tax cuts. companies like urban outfitters or macy's with their new ceo or ulta beauty stores these are going to do great if they get a tax cut it is not a new trend but this is something that you know people are talking about is it baked into the market or not. >> go ahead. >> you know we are talking all the time it is not that big of a deal of cutting tax rate, the most effective is around 23% you are saying when it comes to retail sector, they pay a much higher effective tax domestic? >> yes, urban out tfitters is a 35% and ulta beauty is at 35%

and nordstrom is at 34%. cutting these rates down to 20 that's huge for companies. it is going give them a desperate breathing room that they need now. >> are you talking about cold bi combined tax rates there >> these are current tax rates that these companies are paying. >> that's reported in their earnings it would ends up being some kobe bryant -- kind of combination report if there is a tax cut, it is really important it is not just retail and i don't want to go eninto other areas here there is a lot of companies that's paying higher tax rate and that's going to be the official beneficiaries of this >> we are getting closer, randy, thank you. >> absolutely, thank you for having me. automatsuccess of the iphon0 maybe bigger or longer than we originally thought lets bring in michael olsen, it

is good to have you here >> good afternoon. >> people talk about the super cycle that's a big round of buying you are arguing when it come to apple, there is going to be a super, long cycle. what's the difference and why do you think that >> we are talking about super long cycle that everyone is h p harp harpening on it. one thing that helps apple elongate the cycle is actually the issues that hay had is having the staggering launch with iphone 8 and 10 also, as we look towards the positive impact of having the different components and things like that. i think that's part of it but also, as welook out towards next year, fall of 18, we expect a significant continued upgrade cycle as a result of three

iphones being put into place you have the iphone 10 today and that'll be the lower cost iphone of the reduced cost of that and you have the iphone ten plus and likely an iphone 10 s. three models and upgrade potential opt for people >> so you think normal super cycle is a couple of quarters to sell and the super long cycle is how long >> a year or two years or what >> i think it is a couple of years because you get the positive impact of longer than just initial impact from the quarter of lodge and the quarter that we see from previous cycles because of the component shortage that i mentioned earlier. the upgrade is really what helps next year. you will have people that's going to start to feel having a home button on their phone is not cool anymore and they're going to be looking to upgrade an iphone 10 style

device or a full screen device as that happens having potential for iphone tenn is a lower cost device this year and iphone plus giving more inspectioptions. >> the cell phone is a fashion item and it is not just -- it is at least of all and it is a telephone that people use to make phone calls with. >> lets talk about the other parts of apple's business. i wonder as we focus so much on the iphone, does apple run a risk of becoming not a one trip pony but a company that's sold dependant on one product line that it is maybe down the road, a risk i am just guessing >> well, that's a great point and that's what we are addressing one of the biggest questions that investors have had is as we look forward now that the iphone 10 is out,

what's next for apple. there is a reasonable argument to say that tlas lack here is a innovation there is not a ton of new to show for it. an argument that this pushes out the need for some megacategory innovation for apple >> we got to go, sorry to jump in the reason i ask is we use apple tv at home and i see every week there is new video games of apple tv you can buy an x box controller of that tv can video games be another source of revenue that we are not talking snaabout? >> it could be in long-term. of any thing related to games, that can drive up growth and revenues that people are expecting and many years out, we'll be streaming video games from the cloud and you won't need a consul anyway so that's

something that apple tv can benefit. >> thank you very much for joining us >> we appreciate it. >> thank you >> general motor rolling out their self driving vehicle strategy we'll tell you about their plan of autonomous future, straight ahead. cnbc trend tracker live data board is brought to you by the cme group. ♪ ♪ ♪ ♪ what we do every night is like something out of a strange dream.

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all right, lets take a look at the dow as you might imagine on a day of the dow up 316 points, it is pretty dog gone hot. lets focus on the stocks there ge on a day where the dow is up 360. >> it is off 1%. >> ge is down more than a percent. i was pointing out earlier and tweeted it out yesterday ge is worth performing stock, the worst is baker hughes which is owned by ge it is a double whammy. >> meantime, general motors rolling out its autonomous

vehicle strategy phil lebeau. >> analysts are getting a chance to gone go on the ride of gm's autonomous plan. they're going to start with a self driving by 2019, they may have sooner than that. thar targeting a bun maurban market say the business is potentially bigger than core business. their is mary barra talking about the business plan >> right now the focus is keeping it all together and moving it as fast as possible and winning and having the ailment to put the product on the road and is what we are going to focus on and we'll

evaluate >> they say they're going to do what's best for investors but investors are not impressed from this plan. the stock moves a immediate immediately lower and has not rer recov recovered. we want to show you waymo. right now we are in a dog race or horse race between waymo or general motors to launch a self driving ride sharing service, waymo will start in the phoenix area and gm will start in san francisco. it will be interesting to see how quickly it develops the next couple of years. >> it certainly is i am going to be watching. you know how oberholtze obsesse self driving >> thank you, phil >> what will today's opec's d d

means for the rally. coming up, that sector is seeing a nice rally today dnc financial is up high a % [monica] what's he doing? [lance] can we get a shot of this cold front, right here. winter has arrived. whooo! hahaha [vo] progress is an unstoppable force. brace yourself for the season of audi sales event. audi will cover your first month's lease payment on select models during the season of audi sales event.

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hello everyone, i am sue herrera. here is your update at this hour paul ryan is joining nancy pelosi calling on john conyers to resign immediately. the comments came after his daily briefing this morning. >> i think he should resign immediately. i have been briefed on the torn of allegation and i think he should crin ukraine, a man threw t grenades during a court hearing, killing himself and two others the father of one of the victims was angered by the court's decision to postpone the hearing and laptunched those grenades. and jim nabors has died. he was a favorite in las vegas

and other shows. he was 87 years old. >> that's the news update at this hour. yeah, we'll missed him >> i loved him i thought he was great big day for the market the dow is surging, it is now crossed five 1,000 point milestones in 2017 the dow is higher by 330 points and nasdaq is higher a lot of stocks at an all time highs including fedex, aetna, hilton, bb&t and deer and raytheon a big move is kroger >> lets go to jackie deangelis

>> prices did take a leg down after the market got the production extension that it had been looking for opec says the cuts is going to be in effect until the end they said to be on board and sources told us there is commitment issue it is not until june that'll be a chance to reevaluate the session lows today. thank you very much. lets bring in bob foam, digging into what this means, this sort of what you thought, right >> exactly what we were thinking and we have been talking about it quite a while expecting to cut an agreement in 2018 we'll now have a stable oil

prices environment and prices will remain ranged between $55 here or $60 in the u.s. and that's a great environment >> what will it mean for those stocks and which stocks of our best position to benefit, one that you have a variety of your portfolio. >> yeah, so what's happening in the energy market this year is they can become disconnected from oil price we have positive oil price performance. e th we think the extension of this agreement will be the catalyst that'll help narratow that down what to buy and what do you buy? energy and infrastructure is the place to be. they're going up next year, we think that this agreement will be an extension and an opportunity for those spots to improve their performance. also, natural gas is a great place to be. natural gas and the u.s. from an

inventory perspective, we are in line of where we have been historically it is a great entry opportunity but the stock is down 10% for the year >> the disconnect between the energy prices and performance of the energy stocks would explain why some of your funds had negative performance this year, correct? >> yeah. that's precise and that's exactly it we see that as a great opportunity. investors shy away from investors. they are waiting on opec they thought opec at this meeting have an environment where they crankup their production volume in march when they exist in opec production agreement expire that's not going to happen opec made it very clear and they're not going to immediately turn up and produce another

1.2 million barrels a day in oil. >> you got the production agreement that's going to sort of cap supply or at least partially cap supply gout good economies around the world and in the united states gout rising demand, where does that mean oil prices will reside for most of 2018 >> yeah, so what i think what opec says is we like where oil rises are right now. so do we we like it where they are. $57 for wti and $2 on the global side for brent we think we'll be range amount of $55 that'll support a continued and strong economy both domestically and globally >> thank you very much, rob thummel. >> this is the best day of the year for the dow joining us from the cnbc news

line, richard bernstein, rich, i don't know if the most bullish person out there could envision this kind of scenario for the market the market rallies again is this a tax reform rally that we dare to call it the mccain rally? >> i don't know if i attributed to senator mccain, i would not go that far. look, the backdrop is corporate profits have been accelerating in the united states and they have been doing that for seven quarters the corporate sector has been very strong. what's now happening is as you point out is the probability of an addition to corporate profit is coming around you have a healthy corporate sector that's about to get a shot of adrenaline there is a lot of liquidity and many people pointed out on your show and other shows so you

combine, very strong fundamentals with the shot of adrenaline and a lot of lick qu liquidity and here we go what if we don't get it. predicted and 93% today and mccain today saying he will do it this is still congress you cannot get 50 people to agree of what kind of paper towels to put in cafeteria what if we don't get it. >> i agree with that one not exactly a mature bunch i think the key thing here is what i said at the beginning you still have corporate profits that are accelerating and a lot of liquidity that's a powerful combination. what it means going up 300 points a day or not, probably not. i think if something happens and we don't get this tax cut the way people envisioning it, and the market sells off, i personally would consider it a buying cold fro buying opportunity because you still have the existing of

liqu liquidity. >> when interest rates go up, it becomes a type of war. it is a negative effect of rising rates and positive effect of why rates are going up. remember rates just don't go up. they go up because the economy is get stronger and corporate profits are anomin profit are nominal i think if you something like a utility or consumer stable stock, you have a lot to worry about of rising rates. >> one of our earlier guests of low to double digits and if you get that kind of profit growth and pe stays where they are and you add a little dividend there, you get nice returns in 2018 >> exactly right, tyler. when you say, you know when

somebody says they're expecting mid single digit growths it is important to figure out is that the average for the year or is that what they are saying for the next quarter the issue of 2018 is profits will accelerate but the question is how long >> is it one quarter or two quarter event? the first half of 2018, i believe that people can be surprised boo i ty the strengthf corporate profit december '18 if profit grows 15% or something, i don't know, that's the way people should be thinking >> no worries of some of the red flags out there and some of what we have been see ing and peeks f market >> that's what happens here in the market of bitcoin and etcetera, anything that gets you worried? >> well, i think and the bitcoin in our shop here is, we call it the bit-con.

that's reflective of too much liquidity. i think for better or worst, unfortunately, for worse, that probably goes on until the feds start to withdraw so much liquidity from the economy a sign of that is an inverted yield curve. the difference between bitcoin and what's going on with the stock market, people don't want to admit is happening. >> corporate sector is healthy and i think it is a big difference between what you are seeing in bitcoin orb bit-con a we like to call it >> got it rich thank you. >> rich bernstein. >> thank you my pleasure. >> regeneron is not sharing in the biotech balance. it is down nearly 20%. ahead, we'll sit down with leonard schleifer, we'll discuss

of the company's plans and its future

welcome back to "power lunch," meg terrell is standing by with regeneron's founder doctor schleifer, thanks for being here >> the stock has investors are looking at things? >> well, i hope they are looking at the way we are. we have a bright future. we don't sort of pay too much attention for this short term move we are in it the long-term we measure at least in years and not in quarters and that's what we are trying to focus if you look ahead, 2018 or 2019, we see a lot of good things happening for patients based on the work that we are doing >> you announced an interesting partnership with a small company

focusing on hearing loss that's a huge problem around the world, what are you expecting on that partnership >> what we are hoping o f a company focused in one area can make a difference. the people can make a difference in hearing disorder, we thought we can add something that's kind of special in terms of technology and let them have access to it we think it is a cool partnership where we provide auer resources in term of financial but access to technology and our people and what we did with eye diseases that they'll be able to do with hearing. >> one of the things that regeneron is known is your genetic research and how you develop new medicines. we are talking about this morning how you are working with other pharma companies what can you tell us sns.

>> we have getting quite of a bit of buy in but it has not come in easy 250,000 people at regeneron and married to their identify records. we want to sequence another half a million from the u.k. bio bank and i think people are beginning to see the value of this kind of a data space that can inform job developments and target decisions and then we are getting quite a bit and we hope actually we'll hear about a g d good >> we are not necessarily making, does not make the most sense for us to find it entirely we expect a consortion and we'll

get together and find this and maybe some advance access that we are able to get and dealing with the u.k. but eventually it will be available to the public. we think of this as precompetitive, it is the right thing to do and the kind of information that the entire industry will eventually benefited from we hope to have a head start it is good for the business that we are in. all right, doctor schleifer, thank you so much. >> guys, back every to you >> coming up march we want to let you know, cnbc will be hosting its first healthcare conference, it is called "healthy returns," mark it on your calendar, march 28, 2018 new york city and for more information, get your tickets on

cnbc.com/healt cnbc.com/healthyreturns. the dow is hitting at an all time high, are keep ongoing up we'll bring you a debate on that we'll bring you a debate on that when "power lunch" continues good to know. >>thanks, mike. we got your back kate. >>does he do that all the time? oh yeah, sometimes he pops out of the couch. help from real traders. only with td ameritrade.

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season seven of "secret lives of the super rich." the world's most expensive cheesecake. >> yeah, i decided there's no such thing as being too rich either in food or in wealth, so chef rafael of new york's greenwich village, he was already famous for his cheesecake he decided to kick it up a notch and create what the guinness book of world records confirmed is the most expensive cheesecake in the world here's what's inside this is what really expensive taste looks like it's a $5,000 cheesecake, and you won't find philadelphia cream cheese in here raf's cheese of choice is a formagio made with milk from water buffalo schihipped in from southern italy. >> i'm going to add an amazinin cognac. >> reporter: this costs around 2,500 a bottle >> the cognac lovers of the

world are calling you criminal right now. but the real stars of the chef's indulgent dish are these white alba truffles that go for $3,500 a pound. the cake takes about a day to make and rafael needs five days' notice to source the pricey ingredients including $280 per pound madagascar vanilla >> oh, my gosh. >> yes, this is one dessert that truly takes the cake >> delicious was it >> so, so good >> beyond. >> so good. >> of all the foods you've eaten over the course of these seven seasons, what's the total price tag? >> all right, let's go through it over $20,000 to start with the $56 potato chips that i ate around $11 per piece i ate a $2,000 pizza at industry kitchen. i drank an $8,000 per bottle tequila. >> drank the whole bottle. >> not quite the whole bottle.

that was smooth. then i went to las vegas and i ate the $5,000 burger, the floor bergen that -- >> delicious. >> -- was my favorite because it came with a 1995 petris which by itself is around $5,000. so you get the burger with the wagu beef and the truffle butter basically for free along with your $95 petris. if i could have that, the petris, followed by the cheesecake for dessert, that would be my dream power lunch. >> you can bring that here any time you want. >> you can bring one. >> you brought no food today. >> sorry. >> next time. >> i ate it all. >> congratulations. >> taunk yhank you, guys. >> on the food and the show. >> thank you. >> catch the season finneale of "the secret lives of the super rich" tonight at 10:00 don't miss it. the gratest dead probably had it right, they called it the market rally

transportation index, hottest group of indexes, trade it with the q"trading nation" today rich ross with evercore isi. michael, everything's up do you see more gains in the future for things like airlines and trucking companies >> yeah, you know how ironic is it in today's technology-dominated world that we're speaking about the oldest index which was founded in 1884, and it's still relevant to us. we believe, to your point, brian, there is upside there's a lot of positive momentum behind it we think it was a little bit of a laggard and it all finally came together this week and it's up 11% over the year. it's had its biggest week since 2017. >> why, do you think, quickly, michael? what's behind it. >> look, there's three or four different components driving it. the markets overall are up we know that based ed on an administration campaigned heavily on rebuilding infrastructure if that hat, you'ppens you're g see the transports get more popular.

commodity-based world. everybody is talking about how high commodities are if that continues to grow, if we continue to grow with that, you're going to see the transports having a big yearfection yeyear next year. a stance in owning the airlines, owning some of the railroads if the infrastructure play really comes true, the transports will continue to do better >> rich rogs, i don't care if something's old, making money is kind of cool do you see future gains in the transportation index, you look at the charts? >> yeah, brian, making money is super cool especially for clients on my side of the business here. when you look at the transports, look at a bull market, what do we do? we buy strength. there's no stronger corner over the past week than the transports bring up the short-term chart first, brian, what we love is the symmetry of last november into december. resurgence of the trump trade. saw the transports shot out of a cannon before the election and kept going it's really deja vu all over

again, breakout above that resistance at 10,000 consolidate and go higher. when you zoom out and look at the weekly longer term, the story gets better. multiyear base of support, bullish continuation pattern once again that surge above 10,000 sets the stage for a move up to 12,500 clearly you want to be a buyer of the transportation stock. airlines have lagged we need those to get going to really supercharge this trade. >> wow bullish view there michael, we want to go we're going to see you on the online side. >> thanks, sounds good. >> we do two additional segments on our website, worldwide web. http://tradingnation.cnbc.com. "check please" is next. >> and now the latest from tradingnation.cnbc.com and word from our sponsor. >> position size and risk/reward ratio are two important aspects of building a winning trade. you don't want a single position

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they're leading the gains. some of the biggest individual movers are costco, paypal, express scripts, insight topping the nasdaq 100 goldman sachs the real standout in the dow followed by united tech, united health, intel, and the airlines they are flying high as well. >> yep if something happens between the next hour, it's "closing bell's" fault. thanks for watching "power lunch. ♪ 24k magic in the air welcome to "the closing bell," everybody, i'm kelly evans at the new york stock exchange. >> i'm bill griffeth we're rocking n rolling today. in case you haven't heard, the dow's best day of 2017, the average hitting 24,000 for the first time ever, moving well beyond that number today at our peak, up 387 points we're up right now obviously stocks started off strong, but tax reform hopes and promises of a yes vote from senator john mccain that's