three major breaking stories. the uk reaching a historic brexit deal with the european union. full details ahead congress kicks the can lawmakers pass a two-week spending bill. and burning out of control california on edge as a string of wildfires intensify we're live on the scene. it is friday, december 8, 2018 "worldwide exchange" begins right now. ♪ good morning a warm welcome to "worldwide exchange" on cnbc. i'm wilfred frost. a fourth major story is the

basel iv banks regulatory information. u.s. futures pointing higher on the back of a global rally this morning. 100 points higher for the dow. we are down about 0.2% for the s&p and the dow. nasdaq down about a half percent. as i've said throughout the last couple of day, even though there's risk-off move in the market, we're not really down this week. we're seeing big swings in the pound on the news that the uk reached a landmark brexit deal with the european union. let's get to cnbc's willem marx live in london with the story that's broken overnight. willem >> that's right. very early start for the british prime minister and the head of the european commission and jean-claude juncker, they met

around 7:00 a.m. brussels time to settle the financial bill, the irish border issue and come to an agreement on european citizens rights in the uk and vice versa, that seems to have been kicked down the road to phase two of negotiations. leo varadkar, the irish prime minister, here's what he had to say about the announcement this morning. >> i'm satisfied that sufficient progress has now been made on the irish issues the parameters have been set and they're good now we can move on to work out the detail of what has been agreed to talk about the transition phase, free trade, and the new relationship between the eu and the uk. this is not the end. it is the end of the beginning >> that's a key point there, that we are now moving intod discussing transition before

talking about a future trading relationship the prime minister requested a couple of years for british businesses to understand what the implications are and settle contingency plans for that new relationship we've seen the pound rise significantly against the dollar this morning, strengthening early on but falling back now, trading flat so, traders there seeming to get excited about this, maybe they started digging into the fine print and realized a lot had not been settled, including the irish border issue this specific detail from the report we have this morning. it says the uk will maintain full alignment within the rules of the single market and customs unit if the deal is not reached about specific solutions there is that fallback this is something that made varadkar happy, the idea if things don't work out, britain will maintain regulatory alignment. >> willem, of all people, for you to call me will. >> wilf. there was a silent f there

>> silent the key point. thank you very much for that the big win for theresa may, domestically and michael gobel the brexiteer out on radio this morning placating the desires and issues within her cabinet and her party. still a lot to sort out. let's continued looking at what this means for markets. joining us on the news line, kit juckes from socgen the pound there seesawing this morning. what's your take in terms of reasons it went up and back down again? >> well, the -- the reaction is positive news that we're moving to the next stage of the negotiations optimism tempered by the fact this is just moving on to the next bit the real test is still to come the real question is the debate

that goes on about the impact on the economy. the pound is stronger. it is particularly stronger against the euro there's a back drop of a falling euro rate, as we look at pound against the dollar, it's masks the fact that against the euro, the pound is at levels we have not seen since early june. that's a more significant move >> in terms of domestic uk politics, this sorts the question of theresa may's future, you have to say at least until the new year >> for sure. i think it makes it clear that certainly the european union would like to have stable government in the uk and it's getting its arms around theresa may and giving her credit for getting off to this point. so that level, i think, yes. europe doesn't want a leadership contest. it doesn't want an election or domestic uncertainty and it will probably get it for a certain amount of time now, which is a

positive >> just quickly on euro/dollar, i've been reading your takes on that a lot, a few weeks back you were hoping it would push and break out above the 1.20 we pulled back what's your latest take? >> there's definitely a lot of negativity going on about euro/dollar. positive sentiment about the dollar because of the tax bill that makes some difference also an increase funding costs in dollars over the turn of the year so that's making it more expensive for europeans to hedge dollar assets. that's pushing us down to 117. the range has been miniscule looking and thinking it's more likely to break out of the top and the bottom it feels like we're about to fall out of the bottom than the top. i'll rethink that again after the non-farm payrolls this morning. euro/dollar is going higher next year i wouldn't be surprised if a lot of bullish sentiment for the euro fades away into christmas

>> great stuff, kit. thanks for joining us. seeing big moves in the european banks, as you can see, up some 2% to 4% we've taken a nice spread of uk, german, french, italian and spanish bank this is off the news that the latest basel iv set of rules as they're dubbed were passed last night. and crucially there was no significant boost in capital requirements for various european banks, and it shows a sentiment of the u.s. regulators, european regulators and global regulators working together and that that pendulum in europe also is not continuing to swing against the banks. perhaps it's not moving back in favor of the banks as much as it is in the u.s., but not continuing to swing against them that's why you see a reaction in european banks this morning. nuances in terms of how they'll class certain mortgage securities and risk-weighted

assets but the broader sentiment that is boosting those banks across the region it's also affecting u.s. banks as well. if we look at the premarket moves -- we don't have those we are seeing decent reaction in u.s. banks that global confirmation that regulators are not continuing to punish banks let's look at futures again. 100 points higher for the dow, 112 points now as you can see. and bitcoin pulling back from the all-time high. the current price on the bit stamp exchange is coming up for you. it's just pulled back down to 15,000 decent pullback overnight. down 9%. let's talk markets again guy adam i joins us good morning >> good morning. how are you, sir good to speak you 12 hours after last speaking to you on "fast

money. >> you're burning the midnight oil, i love it >> so are you, my friend as we stand this week with the premarket moves, we'll be back in positive territory again for the week it puts a negative and volatile week in perspective. it's resilient, in fact. you mentioned volatile week, and you're correct a couple days where the market traded lower, we saw the volatility index down 3% one day, down 5% the next day. though the market appeared to be volatile, the volatility index was saying there's not a lot to worry about here if you watched the vix over the last couple of days, it followed the move in the futures. >> clearly we have a big jobs print and implications from that on what it means for the fed is that a big factor today are we more talking about market sentiment, momentum and things

like that? >> i think the market understands what jobs are. we have digested these numbers now. they're confident in what they'll see. with this infrastructure plan that president trump is putting forward, the fact that the two ten-year yield spread broke a bit. you saw a softening in the bond. so i think the fed is happy about that at least for a day or so it gives them some recovery what concerns me is the back end of the curve continues to be stubborn, not wanting to go higher the front end continues to grind higher what the fed hopes is the infrastructure plan and some runway on taxes and infrastructure gives them some air cover to sort of continue to go on their rate hike cycle. >> terms of the big tech stocks that may have seen a pullback of late, which is your top pick >> micron. i tell you right now, micron

if you look at what they did, $38 stock when they reported earnings, shot up to 50 dollars. within the five or six trading days, went back to 38. it's sort of backfilled, and now is back on the trajectory higher i think risk/reward, obviously there's a bevy of stocks we could talk about but i think micron sets up the best >> great stuff thanks for joining me bright and early. >> love you, wilf. >> late breaking news out of capitol hill congress passing a two-week spending bill that averts a government shutdown for now. let's bring in ben white, a cnbc contributor. good morning >> good morning, wilf. >> this is a temporary reprieve. >> it is sets it up for december 22nd, another showdown over funding the government there's a lot of differences between democrats and republicans on how you fund the government disagreements on the daca

program, disagreements on spending levels, and president trump still wants to build his wall and wants money in this for that we could be looking at a shutdown on the 22nd >> those crucial issues are needed to be solved if we're going to get a long-term solution as opposed to the short-term solutions >> they want a two-year deal basically. both sides wanted to push this issue beyond the 2018 mid term elections. it's not clear that democrats would not welcome the idea of a shutdown if it comes down to their fighting against funding for a wall, and they're shutting down the government over that, and democrats wanted to be able to portray the trump administration as extreme on these issues it could ab be a decent issue f them >> on this issue still, in terms of the december 22nd potential deadline, we can just have another short term extension if necessary. >> if necessary, they could punt it into the new year republicans are eager not to do that, to get a spending deal

that covers the next couple of years. that's very much the goal by the 22nd, to get a longer term spending deal done >> let's touch on tax reform even if we end up hitting 22% corporate tax rate or any other smaller kind of giveback from the republican side of the bargain, politically if this passes before christmas, how big a win is it for the trump administration >> it's a significant win regardless of whether you're at 22 or 20, relatively small difference in the top line corporate rate they need a signature achievement for the first year of the trump administration. this has been their goal since the efforts to repeal obamacare fail failed there's a piece of obamacare reform in this, they can point to that. this is important for republicans in congress and the trump administration to say we're not 0 for 2 in legislative agenda, we got something done. >> the question is what can they kick on to next? perhaps back to healthcare or focusing on infrastructure what

do you make of that announcement that came yesterday or the reports of that announcement >> it's interesting as guy was talking about, if they can move forward on infrastructure. that's something where democrats and republicans could work together democrats like the idea of spending on infrastructure i'm skeptical that they can do that they're very different approaches to how you do it. democrats are eager to spend government money and make it a federal program to put money in infrastructure republicans want incentives for corporate america to do this and do the spending. there's differences of opinions on how you spend forward on infrastructure i'm not sure that's something they can do. house speaker paul ryan talked about moving on to entitlement reform and welfare reform. those are unpopular things to do if you're talking about cutting social security and medicare it's not clear what the agenda for next year is infrastructure sounds good not sure they can get it done. >> what else are you focussed on in the remainingcouple weeks o this year?

>> pretty much can they keep the government open and can republicans thread this needle where they get a tax bill done before that date that's a lot to achieve in a couple weeks to pass tax reform and have time left over to fund the government those are the two big ticket items. we could get a train wreck or tax reform government funded for two years. >> great stuff thank you very much for joining me this morning. ben white of politico. still ahead on "worldwide exchange," burning out of control. tens of thousands of people fleeing homes in southern california as a string of wildfires grows in size. we're headed live to the front lines when we meco back.

welcome back to "worldwide exchange." it's a strong global session this morning though some asian markets are looking at declines for the week, particularly hong kong, slightly shanghai, japan with the rally today getting back to flat for the week. today is positive indeed hong kong, japan up more than 1% the banks, some of those basel iv rules allowing european banks to rally 2%, 3%. that's picking up the continental indices. the ftse 100 is up 0.3%, despite a historic divorce settlement for the uk and the eu, allowing them to progress finally to the second stage of talks and discuss trade negotiations

the pound is muddying what the ftse 100 itself is doing u.s. futures strongly higher if we get these opens now and closes as well, we will be in positive territory for the week coming into today, down 0.2% for the dow and s&p, down a half percent for the nasdaq we're continuing to follow a developing story out of southern california tens of thousands of people are fleeing their homes as a string of wildfires intensify jinah kim is live in ventura, california with the latest for us good morning >> good morning. we do have a bit of good news. it is that the winds have eased up a little bit to about gusts of 55 miles per hour that's a good improvement when you consider we had hurricane strength winds yesterday we will still remain in dangerous territory through the

weeken weekend. >> we're getting surrounded by fire >> the devastating wildfires that have been largely confined to the los angeles area exploded into san diego county thursday within a few hours, the lilac fire had eaten through entire neighborhoods, burning 32 structures as it sped towards the ocean. >> for those who have not been currently impacted by the fire, they need to prepare as if they will be impacted by the fire this fire could make it through oceanside to the coast if it continues. >> reporter: in what's become a familiar sight, anxious residents were told you have to leave now. >> we beg and pleaded for them to let us through. they said you have ten minutes >> reporter: north of san diego county, another fire erupted in marietta, sending more families packing. there are six major fires burning throughout southern california with the largest still being the thomas fire in ventura county late thursday officials said nearly 500 homes and buildings

have been damaged or destroyed there. more than triple the number from the day before >> we want to urge everybody in the area to follow the principles of ready, set, go for evacuations. i would urge everybody to be set, have your stuff ready to go >> as the firefight continues into the weekend, some 23,000 homes are still in the fire's path >> five people were hurt in that fire down in san diego, including two firefighters >> jinah kim, thank you very much for that report. still ahead, the big changes coming to disney's board, plus some activist activity in one beaten-down pharma name. as we head to break, here's the national weather forecast from nbc's bill karins >> good friday morning to you, wilf can you believe it's snowing in south texas? all the way down to corpus christi. hasn't snowed in houston in two years. the snow is expending through

louisiana, mississippi, alabama. winter storm warnings for southern mississippi, central alabama. a lot of school cancellations, a lot of school belays snow totals are not blockbuster, one to two inches, but could get more than that in the north george mou georgia mountains we are watching snow possible for areas of the northeast on saturday this will be saturday during the daylight hours hopefully the roads will hold up okay this is 2 to 4 inches of snow, boston, hartford, providence, new york city, d.c. and philly, one to two inches for you. atour business travel forecast more "worldwide exchange" when we come back (news anchor) downtown traffic is still bad. expect massive delays. (radio channel changing) (news anchor 2) all lanes on highway 50 remain closed at this hour. (news anchor 3) the stats are in and this city leads with some of the worst traffic,

with the average driver sitting in gridlock the equivalent of three days a year. for every hour that you're idling in your car, you're sending about half a gallon of gasoline up in the air. that amounts, over the course of the week, to about 10 pounds of carbon dioxide. growth is good, but when it starts impacting our quality of air and quality of life, that's a problem. so forward-thinking cities like sacramento are investing in streets that are smarter and greener. the solution was right under our feet. asphalt. or to be more precise, intelligent asphalt. by embedding sensors into the pavement, as well as installing cameras on traffic lights, we will be able to study and analyze the flow of traffic. then, we will take all of that data and we use it to optimize the timing of lights, so that traffic flows easier and travel times are shorter. and sacramento is just the beginning. with advances in cameras, sensors,

and network speeds, we have the ability to make cities smarter, and happier. what excites me about this technology is that we're using some of the most cutting-edge machine-learning, and ai, to help solve the most fundamental challenges that cities face around the world. who knew asphalt could help save the environment? (lani) and the possibilities are endless.

welcome back to "worldwide exchange." let's get up to speed on the market action. triple digits for the dow, up 111 points the s&p up 13, the nasdaq up 46 the pound was up nicely on the news of a brexit divorce settlement deal allowing talks to move on to the second phase it just pulled back a bit. the irish prime minister's comments highlighting there's still a lot to be done there's still vetoes that exist moving forward either way a positive day for

theresa may and her british government some stocks to watch today, western digital dropping its effort to block the shale of toshiba's memory chip business to an investment group the companies have been locked in a dispute since the 1$18 billion deal was struck in september. disney nominating two new board members, oracle's ceo and ilumina's ceo. the election will take place in february disney currently has 12 board members including sheryl sandberg and jack dorsey. elliott management is reportedly seeking changes at alexion pharmaceuticals. the new york times says elliott could launch a proxy fight as they try to boost alexion's share price. still ahead a round up of the top headlines, plus more on that major brexit break through between the uk and the eu. the full details when we come

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the uk reaches an historic brexit deal with the european union. congress kicks the can lawmakers pass a two-week spending bill. and countdown to jobs. wall street rallies as investors await the november payrolls report the dow currently up triple digits it's friday, december 8, 2017.

you're watching "worldwide exchange" on cnbc. ♪ >> hello friday, indeed. good morning welcome to "worldwide exchange" on cnbc. i'm wilfred frost. let's get straight to the market picture. triple digits, 112 points for the dow. s&p up 13. the nasdaq up 44 off the back o a global rally coming in today, dow down 0.2%, nasdaq down a half percent with these gains we may end in positive territory we have seen wild swings in the pound this morning a nice move higher initially, then back and forth over the course of the morning based on various headlines coming out those headlines will be summarized by willem marx live in london for us >> i will do my best you can see now the pound back to a flat point in its day

we did see that massive bump earlier. it could represent, of course, a realization that essentially things are not that straightforward. we had this break through deal, we will move from phase one to phase two, jean-claude juncker and theresa may having breakfast this morning coming to an agreement on that. there's a lot still to be worked out with the uk's future trading relationship with the european union and the transition government floated one of the key elements is the irish prime minister, leo varadkar here's what he said about the break through this morning >> i'm satisfied sufficient progress has been made on the irish issues the parameters have been set and they're good now we can move on to work out the detail of what has been agreed to talk about the transition phase, free trade, and the new relationship between the eu and the uk. this is not the end. it is the end of the beginning >> there's been relatively warm

noises for theresa may within the uk domestic political scene here a lot of members of her cabinet coming out saying how happy they are this happened. that seems to give her a second chance to continue as leader and prime minister here. there was a lot of pressure on her to try to get the talks moved through to the second phase by this european summit next week in brussels. she's seemingly done that with help from the european side. michel barnier, the negotiator speaking as well saying this morning what he wants going into the next stage is clarity. that's something they sought for the last eight months when it came to the divorce bill, now they also want clarity about what the european also expect from the british government when it comes to the future relationship and huge splits remain inside british prime minister's theresa may's cabinet over what that relationship will look like. >> huge splits, but the big develop ment for cabinet and may is they has a deal, and the brexiteers came out in support of it, so it gives her some breathing room personally.

>> that's right. we had reports that michael gobe said he was willing to confront her essentially on the future relationship with the european union. it now seems he has backed her dealmaking prowess this morning. that will give her a bit of relief >> willem, thank you very much for that we have seen big moves in the european banks off the back of the so-called basel iv agreements that came out late yesterday. as you can see, french bank, bmp paribas up 4%. 3% move in deutsche bank and barclays a spread there of euphoria highlighting the moves off the back of the agreements which are basically rallying because we have a clarity we have the details of these deals which we were waiting for for a long time. they're not worse than they could have been. the implementation time is long. 2022 that's why they're rallying some niche improvements as well in

terms of certain assets and thousand they're calculated. the u.s. banks are up this morning. markets are up gentlemanly, but this generally, but this impacts them it's a sign that european regulators perhaps are starting to move like the u.s. regulators, not a big easing of regulation at all, but perhaps the pendulum is not swinging continually against the banks in europe kind of global reprieve slightly in terms of where it could have landed banks rallying across the board globally >> back in the u.s., late breaking news out of capitol hill congress passing a two-week spending bill that averts a government shutdown for now. let's get to kayla tausche in washington with the details. >> good morning. the house and the senate yesterday evening moved to delay discussions on government funding for two weeks as they buy time to finish tax reform setting up a potential government shutdown scenario three days before christmas as

leaders attempt to reach across the aisle to bridge huge gaps in funding priorities the house freedom caucus and it's chairman mark meadows says he doesn't expect much to change between now and then >> we're optimistic that the 22nd of december will provide any different kind of outcome than december 8th that provided. we had the december 8th deadline almost three months now, here we are punting again. >> gop leaders are working on a new deal that would extend defense funding through september and all other programs through january. yesterday the president hosted the leaders of both parties at the white house to discuss how to proceed on that, on letting caps on defense spending be raised, and immigration, both parties afterwards called the meeting productive the white house saying that the president, speaker ryan, and leader mcconnell also stressed that negotiations on immigration should be held separately on a

different track, and not as part of the government funding bill democrats who are pushing for protections children of undocumented immigrants, said nothing has been agreed to but discussions continued. so there's a whole long list of issues that need to be worked out between now and then it's likely that republicans will punt through january. it is clear there could be issues that cause democrats and some republicans to withhold votes. >> in terms of what could be the top of the agenda for the start of 2018, we heard about infrastructure yesterday >> we did. white house officials saying that an infrastructure plan will surface in early january no word on what the math will look like or what the level of that plan will be. we heard the president talk about a $1 trillion plan with 200 billion coming from the government there's interesting parallels here in march you might remember healthcare was just about to stall. the president started talking

about tax reform seemingly changing the subject before something did not go his way. some people are talking here in washington about the fact that focus on tax reform. focus on funding the government, focus on the huge priorities worry about infrastructure when that plan is actually ready to be published don't start changing the subject now. so that is an interesting parallel that some here in washington are talking about and perhaps we'll see history repeat itself. if republicans can get tax reform done, obviously they will >> i can't believe that was way back in march. how time flies thank you very much. switching focus to today's wall street agenda, the labor market will be front and center. the november jobs report is out at 8:30 a.m. eastern forecasts call for 195,000 in non-farm payrolls, versus 261,000 in october let's talk nor about what to expect from the jobs report, i'm joined by danielle

dimartino-booth, and danielle, the key things you're looking out for today? >> we're seeing strength out of small businesses we're still seeing evidence of supply chain disruption. we saw a huge pop in manufacturing hiring in the adp report most economists right now are of the opinion that the disruptions from the hurricanes and the first of the two major california wildfires is already making its way through the labor market data. i'm not convinced because there's still antidotally if yo look at conference board and the data signs now that we could see an upside surprise today and that the unemployment rate could break below the 4% mark for the first time since 2000. >> david, your take in terms of

where expectations are, particularly in light of things like the adp report. >> this might be one of the few times that danielle and i disagree you know, i'm looking at the consensus of 195,000 that's well above the pace of which the economy can absorb labor. we saw throughout the recent fed beige book that if anything we're hitting the wall on labor. there's massive constraints. i'm looking at the consensus, there's 78 forecasters, nobody is below 150,000 the consensus is 195,000 to me, perhaps more of a deceleration than from the month before but still a huge number. i think there's going to be disappointment today i think the number comes in below expected i saw the isms, both manufacturing, nonmanufacturing, the employment component was at a four-month low jobless claims in november averaged 242,000, october they were 233,000 so actually the tea leaves i'm

reading are telling me to expect a below consensus number today something i think at the low end of the consensus, closer to 150 and 195. >> danielle, your take on the overall economy, aside from the jobs data at the moment. >> i think the overall economy now is throwing off confusing signals. we've seen supply chain disruptions. it's very difficult to source labor. he and i completely agree on that front i think that some of the cross currents that are emanating from the economy right now are going to be a point of confusion going forward for fed policymakers the yield curve is telling us everything we need to know at this juncture about the underlying strength of the economy, but the sugar high from rebuilding efforts is going to cast an air of confusion that i hope does not push fed policymakers to overtighten the economy into a recession the first thing you learn when you step foot inside the fed where i worked is that the

unemployment rate is the most lagging of economic indicators i'm hoping fed policy americas don't chase it all the way >> in terms of broader factors, tax reform, your hopes for what that will do to the economy and bring it in to what the bond market is doing at the moment as well >> from the numbers i saw, the warden budget model actually showed that the tax reform and all the other impacts -- everybody looks at the impact of tax reform or tax cuts, they look at it in a vacuum they don't see a federal reserve response to this net-net the wharton budget model had 0.1% of an upward impact on gdp growth this doesn't spin the needle that much as far as the economy is concerned back to what the mantra is and the narrative, amazing that all of a sudden we have had a burst of economic activity above 3% in the united states without looking at it from the fact that we did get significant repair

and rebuild coming out of the hurricanes this is where economics is an abysmal science. you have a disaster and it adds to gdp growth. when you look at real final sales, you strip out inventories and net trade, the economy is running the past two quarters below 2%, not above 3% sometimes you have to dig beneath the headline gdp looking now, inventory accumulation is starting to decelerate and the trade deficit is widening. we'll see the emperor disrobed in the fourth quarter when the numbers come out and show the economy still trudging along at a 2% rate where it's been all cycle. >> great stuff we have to leave it there. >> thank you very much in corporate news, shares of american outdoor brands are lower this morning let's get to landon dowdy with the details. >> shares of americanoutdoor brands moving lower this morning after reporting disappointing guidance the firearmsmaker beating on the top and bottom line with

earnings of 11 cents a share verse 7 cents that analysts were expecting. revenues at 148$148.4 million however the company issued weak q3 earnings and revenue guidance the ceo saying lower shipments in the firearms business reflected a significant reduction in wholesaler and retailer orders, adding that strong firearm sales in the year ago quarter were driven by personal safety concerns and pre-election fears of increased firearm legislation. shares of smith & wesson, we don't have the extended hours, but i'm sure much lower. >> thank you very much for that. big sign of the times for point. today's top trending stories coming your way. as we head to break, another check on u.s. futures, which are pointing higher. triple digits for the dow. 122 points back in a couple minutes

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it can provide what we call an unlock: a realization that often reveals a better path forward. at wells fargo, it's our expertise in finding this kind of insight that has lead us to become one of the largest investment and wealth management firms in the country. discover how we can help find your unlock. welcome back to "worldwide exchange." i'm wilfred frost. time for today's top trending stories. landon is back with those. >> users of navigation apps like waze is warning that the service is directs them to neighborhoods in northern california where wildfires forced evacuations waze relies on information from other drivers, so when it notices gridlock on your route, it will reroute to you quieter

streets even if threatened by fires. people were tweeting saying it's saying to drive on the 405, but does it want me to drive through a fire >> i get the issue and how this trended quickly. but i don't blame the app for this when someone uses an app to get somewhere, they should mix it with common sense. you don't follow it blindly, like walking down a street and walking into someone i have a little bit of sympathy for them you have to take some commonsense. everyone wants to get in on the bitcoin fever. coin base hit the top spot on the apple's u.s. app store yesterday as the price of bitcoin surged past 17,000 dollars, but for many the app was unavailable for most of the day. it was down for maintenance, frustrating many customers

. >> crazy sign of the times this is an epic story. bitcoin can be the perfect gift for the bride and groom in your life the father of indiana bride to be ciarra is paying for her wedding this summer when the price of bitcoin was $4,000, he bought $10,000 worth of the cryptocurrency to defray some of the costs. since then the value quadrupled. now bitcoin is paying for everything >> i love this are they transacting with the wedding planners >> it's so funny you say that. the vendors don't like this. so he's putting it on the bit pay card because theydon't want to be paid in bitcoin. i'm thinking, dad, if you're watching, what were you thinking >> why not you could have had even -- >> i could have had nicer flowers. dad let me down on this one. what's on your to do list this weekend you may want to clear out a few hours as season two of the hit netflix show, the crown, is out

today. es one of the mo season two takes place in the 1960s. it's the last chance for you to see the current main cast in their roles. the characters will be recast for season three as the royals age. how excited are you? >> very, very excited. can't wait my aim is not binge quite as aggressively this time let it last. >> i know, but you want to keep it going >> do you wear a crown when you watch it you wear a crown every day >> no. there's a new teaser they released in the last couple days, which is the scenes with the kennedies in it as well. they -- season one was so good >> awesome >> landon, thank you very much. up next, we're counting down to the jobs report the dow is up triple digits as we wait for it we'll tell you what to expect when "worldwide exchange"

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welcome back to "worldwide exchange." we're approaching the top of the hour andrew joins us from new york for a look at what's coming up >> what do you think we're talking about today? only one topic >> bitcoin, jobs, tax reform >> okay, three topics. >> bitcoin bitcoin now and always but -- >> that goes without saying. today it's jobs. >> there you go. >> we don't get you to see you in the 8:00 hour, so we play a little game on the show where we ask people -- >> i'm doing a hit at 8:15 for you on the european stories. >> i wanted to you play along now. >> i'm ready >> i want a number, and play with price is right rules. it's the closest without going over >> oh, that's interesting. i'm going to go with my friend

from gluskin, 150. >> we'll mark that down. we'll have a conversation about that on the air probably without you, at 8:31 >> done. >> i will change it so 152 >> wilf is down for 152. >> very nice >> we'll see you then. >> we'll see you and the team in seven minutes time let's talk jobs. let's talk what to expect for the markets today. futures pointing 103 points higher we slipped a bit we hit 120 in the middle of the show let's talk to john silvia. i've gone for 152. what are you going for >> we have a stronger number 220,000. >> i should have gone higher, maybe. >> price is right rules, so you may win this one we have the unemployment rate at 4.1% picking up on your conversation, the challenge is you're seeing

wage numbers pick up because there's a shortage of skilled workers out there. should look like a good day. europe, seems like a soft brexit a lot of problem gres thergress. >> in terms of the broader economy, what you're looking at for gdp when we get it for the quarter, there's lots of swing factors, better retail headlines that say some aspects are following storms and fires what do you think we'll get for the quarter? what do you think we can extrapolate for next year? >> you still will get 2.5% plus what you do have going on in the economy, not only the consumer but more business equipment spending is happening. we'll have a bit of negatives in terms of trade 2.5 is good. 2.5 to 3 for next year looks solid with the consumer and business investment kicking in a bit of government spending as well >> so, i presume you're expecting a december hike.

what are you expecting for next year >> yeah. right now looking at december and probably two more. one in the spring, the summer, perhaps one in the fall. so three for next year in total. i think that's going to be consistent with what the fed sees for inflation moving forward. >> john, we continue to see a flat yield curve that coworries some people. to what extent does it worry you and to what extent is it just an international factor, so the u.s. is just reacting to that? >> i think the u.s. bond market is definitely international capital market we talk about international markets all the time what we're seeing is that there's a tremendous interest in buying u.s. treasuries, still a relative value compared it other countries in terms of sovereign debt risk. so, no i think it's an international marketplace.

that's really one factor keeping that long-term treasury down, as well as the decline over time in terms of inflation expectations. those two factors absolutely key. >> john, we've been discussing the impact of progress on tax reform bill on the market this week big move on monday since then it's been less impressive stealthily the dollar ticked up each day this week the dollar index up a percent week to date what do you take from that are you encouraged that the impact of tack reform can be significant on the economy >> i think the tax reform can be a positive for the economy we're looking at 0.2, 0.3% on a sustained basis, but for us, getting something done is positive for the markets getting rid of big negative factors in there in terms of corporate taxation and individual taxation. so we don't see a big macro

story. but we see positives >> john, thank you very much for joining me john silvia of wls fgoelar that's it for "worldwide exchange." have a great weekend "squawk box" comes next. we know life can be hectic.

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u.s. equity futures indicated sharply higher as congress works to negotiate a tax bill and kicks the can down the road on a government shutdown at least until just before christmas. the uk reaching a brexit deal with the eu we'll bring you the details. and bitcoin gone wild. big swings in the cryptocurrency really what if you paid out some money a week and a half ago. what if you paid someone, now it's four times or five -- whatever it's jobs friday that's a currency? december 8, 2017, "squawk box"

begins now >> live from new york where business never sleeps, this is "squawk box." good morning welcome to "squawk box" on cnbc. we are live from the nasdaq market site in times square. i'm becky quick along with joe kernen and andrew ross sorkin. it is jobs friday. we'll get the november employment report at 8:30 a.m. eastern time forecasts call for an increase of 195,000 in non-farm payrolls, that compares to 261,000 in october. the unemployment rate it expected to hold steady at 4.1%. check out the u.s. equity futures. you will see right now dow is looking like it would open up by triple digits. s&p up by 12 nap