ge's debt a $20 billion credit facility comes due in 2020 that is the key thing to watch let's hope there's no economic slowdown >> price doesn't matter as much as shares outstanding. >> thanks for watching >> closing bell starts right now. it's time for the closing bell stocks finding a little bit to close out what has been a volatile month >> executives with big business riding on the outcome. >> a massive data breach leaving half a billion customers exposed. we'll take a look at a previous hack attack and how companies faired in the aftermath. raising fresh questions

about facebook sheryl sandberg >> the closing bell starts right now. happy friday we'll get to all of those stories in just a moment >> some nice gains the dow was down 87 points at the low currently up nearly 198 points the s and p is up more than 4% it would make it its best in more than six years.

>> giving us an update between him and of china it is the big event here as far as everybody is concerned with the fate of the u.s./china trade relationship hanging in the balance. here is what the president had to say >> we are working very hard. i think they want to make a deal and we would like to we'll be meeting with if president in a little while. for the most part tomorrow would be our big meeting people are working our staff is working a lot of talented people working. there are good signs we'll see what happens >> the question is what form

could those good signs take? not entirely clear a lot hangs in the balance here. the official told me, gave me a sense of the president's thinking here. i think it is an important knew answer for markets to pay attention to they said the president doesn't make a deal. the president doesn't necessarily feel like he has to get a deal tomorrow night. the economy continues to show resilience despite the equity markets. so therefore this administration sees this as a very good time to take a strong hand with china 23409 to take whatever deal is offered initially. finally the senior

administration official telling me about the appearance of peter navaro he is scheduled to attend. he is mentioning him by name the new trade deal and an indication he is including him in the china dinner deliberately the president wanting to go into this dinner tomorrow night from a position of strength he is willing to bring the biggest china hawk to the table at the dinner here that is suggesting that one possible outcome here could be sort of a squishy new cycle tomorrow night in which both sides immerge from the dinner with positive rhetoric. no documents, that sort of thing but perhaps maybe an agreement to continue talking and maybe even an agreement on the united states part that is scheduled on

25%. it is one possible scenario. everything depends on the two men that will be on either side of that dinner table >> a lot of stake here >> what's the tone for the other leaders towards the president at this summit? we have seen him sort of -- >> do we have the class photo? >> it is always good >> we have that coming up. >> but the sentiment towards him hasn't been this time compared to other global summits. does the kind of battle he is having act as something that unites other leaders behind him or not is he being left out some what >> i think this administration feels very much that they have support even if it's quiet support from a lot of countries around theworld and particularly asia for dealing with chinese balances. i think they feel em boldened by some of the other leaders.

two counter points at the trade agreement signing refusing to hold up his copy and declining to hold his up i would say you had abe going out to praise the president and congratulate him which of course is u.s. political observers know was not necessarily historic victory. abe finding an excuse to compliment the president he is getting a mixed bag of treatment i would say. >> okay. thanks very much we look forward to reports of a squishy positive over the weekend. it is the last trading day of november. bob shows us a look at what december could hold in store >> 2000 point swing in the dow in november. health care immerged as investors sold off technology

stocks he'll ca health care up tech sold off nearly 3% along with communication services. they moved up an down depending ton pace of talks for trade. you get more optimism the energy etf had a remarkable month energy stocks went down 3% oil is down 20%. that is the orange line. the decline in oil is mostly about a supply not a demand drop. oil stocks would be down a lot more looking ahead to december tell me how to trade talks turn out that is how it is. if there is a deal over the weekend look for industrials and materials to rally on monday along with chinese stocks which have also begun to move a little

more sideways. back to you. >> he just told us it was the -- >> yeah. >> thank you very much for that. we'll show you that later in the show time for the closing bell we are at session highs as we get in. jack is here economist up 107 points ton dow what was the kicker this afternoon that got us into this positive territory >> i think oil will be the major focus until the end of the trading day. everyone is focused on the din are we have saturday it will play out monday more. as bob just said we have seen other stocks take the lead here. we have seen financials out pretty well despite a ten-year

yield coming in. >> how do you explain the action we have seen in bonds, 3%. do you think it's because of the fed that we saw a strong week for u.s. stocks and 4% plus jump for the s&p 500? >> absolutely. we started to see it flatten out. one of the reasons for that is because the market flattens out when it is at the end of the tightening cycle that's where we are at that's the signal he gave us the other day. you had this rush for yield. think of the endowments their yoeyes get real big. >> when it gets redeployed will

depends what might not come out this weekend you could literally see a tsunami of capital hitting the market it is one of the things you were not expecting a bit ago. we are starting to see the same thing develop now. >> clearly it is at an impact on markets this week. has it changed your market for 2019 and how positive or negative it could be >> it might have been misread a little bit bond markets seem to get it right. we are at the end of the cycle it is economic growth. it will be a built more selective. you go into the end of year and maybe a built of rotation i agree there has ban wall of

worry. i would look at some of the beaten down sectors particularly if you get this great to good story. >> if you look at the monthly performance here that you got at the very top health care winning by a milestone and energy and kplun ca communication services what does that tell you? >> we kind of felt it earlier with tech flolg failing. where was it going to go health care will be one of them. oil will be one. is there plenty of risk reward there? >> we'll have to leave it there it is now the best week since december 2011 if it olds

thank you. still to come here on the closing bell a massive breach sending the stock plunging as half a billion customers gets compromised. we'll take a look at how target and others performed after their hacks. plus we'll dive deeper into the g20 summit and the meeting, a top expert lays out the worst case sen familiar owes if the meeting ends on bad terms. reach out to the show on twitter, facebook or send us an e-mail the closing bell will be back after a break. your muscles look good, but we should be seeing

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month, both positive here with your leaders industrials having a good day. caterpillar leading the charge here intel higher by 2% as well goldman sachs the biggest. marriott plunging after the company closed a massive date a breach exposing information of half a billion customers we are from san francisco with the latest what do we know about all of this >> it is a stunning figure of people involved. marriott announcing up to 500 million guests with reservations could have had their data compromised and the company says for 327 million of those guests the hackers had access to some combination of personal information including names, addresses, passport numbers, dates of birth and details about their reservations some also have their payment

card information stolen. it is unclear whether they have it need today use those cards. the unauthorized access began in 2014 marriott acquired in 2016 in a statement. marriott's president and ceo says we fell short of what our guests deserve and what we expect of ourselves. how does this stack up against some of the most high profile hacks? last year caused the credit agency shares to go down to about $94 a share. today trading at around $102 a share which is lower than the $123 a share the company was trading at right before the breach the 2013 target hack sent the company's stock down to $56 a share. the retailer shares are trading today around $70 that is higher than the stock price right before the reach the attorney generals for new york, maryland and illinois are launching informations back to you. >> 2014 the start date of this,

is that right? >> 2014 and what's interesting is i talked to some that say the fact that it's been going on for four years suggests they may have had access to more assets than the company realizes right now. it is pretty disturbing to say the least. >> how dangerous is it, do you know for hackers to have passport data in particular it is not social security data it does feel very personal >> absolutely. as you know from covering so many of these recent hacks is that that information is taken and kmodtized and put on the dark web for sale. what is interesting one analyst pointed out for me is at least to our knowledge we don't know of this information being sold on the dark web as of now. it is pretty alarming they had access to pass porport informatn >> thank you very much for that.

>> i have to raise concerns about identity theft >> of course but these apologies i don't feel are very sufficient all of the companies, there is a theme which is we were the victims of an illegal pack you take this and you have to take responsibility for it this is another example. >> clearly there was a vulnerability in the system. >> of course that's on them they are making money and they require this information then it's on them >> there is data and data. the fact that there's passport numbers, i don't know. i feel like we are used to having names and addresses stolen >> it gets embarrassing passport photos as well >> you can retake those. >> my new one is very smart. i hope they didn't get my last one. >> 40 minutes to go before the closing bell the dow is still at triple digits 140 points near session highs. optimism between them tomorrow

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>> welcome back. we are looking at 4 to 5% for the week let's check in on individual market movers. general electric falling on a price cut. they cut from $7 a share to 11 it expects modest downturns in renewables it is 6.5% target price below that current level of 43 target price is 7. it is not down but the target price is below the current level. >> aviation is usually the

reason for optimism. >> there is not enough in general. it is down 58% year to date. wells fargo upgrading stock. they say the worst is over for the stock. it is totally a late call. the worst has been over far while with stock of 80%. they do see more positive catalysts on thehorizon. it is one of the reasons under armour is up this year we have 35 minutes left until the close. session highs 169 points now and take a look live at the market

caps of microsoft and apple because microsoft in the lead $849 billion market cap ahead of apple. it would be the first time it would close bigger than apple if it does that today as a moment it looks like it is. apple is down near lay percent we'll discuss that and keep an eye on it throughout the close facebook sheryl sandberg under the microscope we'll discuss what it means for the future of the company. and up next will the trump-xi meeting give investors something to cheer about something to cheer about that's when we come right back decided in as little as 60 seconds. the powerful backing of american express. don't do business without it.

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the sector in the red. the leaders right now are utilities, industrials and technology we got better chicago manufacturing numbers and then

some optimism, signs of progress into the face to face tomorrow on trade >> time for a cnbc news update here is what's happening we begin with bill walker tweeting that has issued a declaration of disaster after the earthquake struck. it is in direct contact with the white house. the victims are receiving millions of dollars making the announcement at an event in cincinnati >> today the department of justice is announcing that we will provide $16 million to the victims of last october's las vegas shooting and to the first responders it has been used to help pay for counseling and rehabilitation,

trauma recovery and legal recovery >> take a look at that that is the city of lights paris. it has become a magical wonder land every year in paris 150 streets are lit up with millions of lights this rear the city is using all led lights for environmental reasons. it is beautiful at this time of year or any time of year but especially the holidays. >> very special. >> w the closing bell let's talk about this rally. there seems to be a burst of optimism here. >> up until about an hour and a half ago president trump saying things are going okay. no deal yet. the chinese officials can move

the market saying they are making progress but no deal yet. the market is for a rally. it believes some kind of truce can happen and you see what's going on here. essentially nothing. >> this tells you and they want a deal powell threw it in trump's lap i think the market wants to believe they will get it done. at least a foundation gets something done >> what do you think about the rally? >> i think it is very encouraging. so much damage done over the month of october i think it's healthy what we are seeing i love to see it right across here it is one of two sectors it talks about a healthier mark. >> and potentially good signs at a g20. what could it do if we get

clarity? >> we saw 600 points we want better clarity on earnings most traders believe they must only move twice and then we get here on a deal on china even just a truce that's all the market wants. >> absolutely. the market will explode. it is only going to help the senate rally if there's a true side out of the g20 you'll see this market take off >> i will tell you the real reason market is rallying now. one on the new york stock exchange, this is his last day >> it is 38 years on the floor of the new york stock exchange they were trading in eighths of a dollar back then >> 19 years old. >> i was 19. >> and now just 29 it changed the course of my life i never looked back.

it has fwn greatest ride of my life >> that man has been my friend >> i have ever known not everybody acts the way on tfrgs than in real life. let me give him a kiss unbelievable day and then all through the 90s such a great place to be. certainly events of 9/11 in not only the market but here as well

>> we were just talking before the break that microsoft has overtaken. it has been through all sorts of cycles do you kind of believe it is the shape of the market these days >> i do. i think it has been fascinating but now where we are in the 21st century with technology i think it's absolutely on par what we are seeing >> i know you as an optimist when it comes to the fundamentals, to the markets, what's your feeling? >> the italian recipes >> i am very optimistic about, you know, what next year be l bri -- will be. i think we'll make progress. i think trump is going to come to a deal with china i think the u.s. economy and global economy will do better in 2019 >> not to much for your colleagues here but for us we'll continue to see you on our air congratulations again.

>> where ever you go >> yes >> he will land somewhere. >> i am not retiring >> every time there's a big market move it's like straight in front of the camera let's get an update from the nasdaq over to you. >> hey there congra congrats the nasdaq is higher by .65% at times we have been positive for the month of november. to close positive the number is 7305 we are around 7318 or 19 or so the biggest movers on the upside nasdaq are up dad and nvidia, american airlines and marriott marriott on news of the massive data breach. in terms of point impact to the index it is all to the up said side and downside today.

they are having the biggest point impact and then apple and marriott were shaving around 10 points or so off last i checked. it is also the fourth positive session for the nasdaq the index is also on its best on pace for the best week since december of 2011 up over 5%. we'll see if this rally holds into the close back over to you >> thank you very much for that. my apologies >> that's okay all right. world leaders are gathering in argentina this morning for the start of the g20 summit. this is expected between president trump and xi could leave with a trade deal. robert so what's your level of optimism

going into this meeting? >> my optimism is pretty high. the g20 has two responsibilities it has to look out as a whole and has to excess stewardship of the global system. the issue for both is to head off a u.s./china trade war it aims to do that i think they realize the responsibility it would maybe move towards a trade conflict there is the overwhelming job. i'm sure owl aall of the other countries will be encouraging it >> are you as optimistic >> i am if we define it in the following way. i don't expect any major breakthroughs because a lot is normally required to do that i think there could be process breakthroughs, that is to say a truce in which the two

presidents ask their people to work together to deal with a number of the issues between china and the united states, protection and intellectual property to get people moving in the right direction over the next six months or so to really reach agreements in those areas. that would cool things down. it would give experts time to develop concrete measures to dissolve these issues. there will be differences between the united states and china because they are very competitive countries and china is growing you can reach a process where they work cooperatively. it would be a very productive outcome of this stomach miummit. it is important to both countries and to the world >> so you worked, you flow, in the state department are you still in touch with the chinese and how do you expect them to react if he is in the room >> well, i was in china for ten

days leaving aside personalities and there are obviously issues between peter and the chinese on a wide range of issues is book is one thing the chinese obviously took a lot of exception to but basically the president really understands i think or at least from people like kudlow that heading off a trade war is very important to the united states we should expect that it could be launched at the summit. >> you said at the top that the leaders would be kind of pushing the two sides to make a deal

i'm interested because isn't it one of the few issues many other world leaders are united behind president trump on that is to push china much harder >> they are but they also want to head off their own trade wars with trump fortunately president trump has already declared cease fires or truces in his trade battles with europeans and with the japanese. he has signed off on the new nafta agreement with mexico and canada and he did one with korea. he has declared a truce with the other trading partners that enables them to support him but also means they keep an eye on whether their own trade conflicts with the u.s. can move from cease fire to solution. so they want to move the whole trading system become in the direction of where it was before trump came into office so they have got kind of a dual focus, but what it leads to is

they are wanting to encourage trade peace across theboard. he could say to the farmers in iowa instead of the chinese blocking your sales they committed to buying more soybeans he has a big victory for his heart land i think the chinese know that and i think there's some possible that you might get an early harvest as we say in the trade business >> a lot of people know that >> i want you to respond we have this great graphic of

the top s & p 500 companies >> well, the worst case scenario the chinese could really make it easier to move things along if they were to make commitments to the kind of things they are talking about. that is that if there is a real break down in these talks those companies would suffer the most because many of these companies

use components and intermediate goods. the real conflict near some cases is about as the administration considers too much on the technology front it would restrict market contend. if there were a big escalation they would suffer if there was an improvement then those company stocks would be major beneficiaries. >> we'll have to leave it there. thank you for joining us we have 17 minutes left of trade. we are near session highs 173

points on the dow and the battle to be the biggest company in the world is yoyoing microsoft again and then as we stand it is just microsoft with the lead if they close like this it would be the first time microsoft is the biggest in the world. >> like you're hosting a soccer match or something >> i could be. it would be fun. almost as fun as this. we'll keep an eye on that until the close there. apple is back ahead. we'll keep an eye on that. goldman sachs one of the biggest losers on the dow today. we'll eabrk down why one firm downgraded that stock today.

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move to the enterprise-grade cloud that's built to handle all your apps. ♪ ♪ the ibm cloud. the cloud for smarter business. shares developing. what's the reasoning is it the scandal? >> it is one of the most bullish. they did have over 40% upside when their stock target was 280. they are downgrading it. they have 17% price increased target from here now, they point out that the stock has lost 12 billion during the month of the november.

they have looked at comparable cases in terms of how big the settlement could be. they say up to 2 billion they don't have confidence because there's a lot of guesstimation in that. with that considered they say it appears to us the stock has more than discounted the outcome. the reason for the downgrade is the timing is not known. it could hang at these levels far period of time and there could be widespread deeper issues again, they don't know that. it is leading them to downgrade despite thinking a lot is already priced in. they are saying the evaluation is trading at a one and downgraded at 1.1 in terms of the price target down a lot some 12 billion in one month >> the biggest loser on the dow taking 28 points off at a time where financials are higher on the day. >> all right we have 12 minutes to go before the closing bell

we have a rally until the end of the week very strong week best for the dow in years. same with the s and p 500. the dow up 154 points right now. up next we'll discuss if the feds should pause on interest rates or not options fees? are you raising your hand? good then it's time for power e*trade the platform, price and service that gives you the edge you need. alright one quick game of rock, paper, scissors. 1, 2, 3, go. e*trade. the original place to invest online. sometimes, they just drop in. obvious. cme group can help you navigate risks and capture opportunities.

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>> he weighed in on the expected december fed rate hike >> i think you would like maybe do december and stop, right? we have peter here from the advisory group good afternoon to you. >> i will. >> do you agree with him >> so he voted in 2017 and descended every time the fed wanted to raise interest rates according to him it should be at

a range of .5 to .75 so him saying now they shouldn't raise, he hasn't voted for one rate hike. i think it's a very tricky situation. i'm confident how this ends. the fed has only accomplished 20% of the time a soft landing since world war ii the odds of them creating another soft landing is very difficult. if you believe that at some point we'll have a recession the next year or two, well, i would rather have that and go into it with a feds fund rate at 3ish than 2ish. 2ish gets you to be like japan and you get stuck and you had very little ammunition to deal with downturns that will inevitably come our way. >> that soundspainful.

we are in the mid-2000s. it is threading a needle here. if they stop here at 2% where they go to 2.25 it will not step the next session from occurring. i would rrt have it at a higher level. whether they were or not is irrelevant to me they had every opportunity to raise interest rates i feel like over time real interest rates should be positive and that while it may be painful to an economy it is extremely interest rate dependent and interest rate sensitive over time it's a better foundation for economic

growth >> with immerging markets and the fed being close to this it will not be helpful it is not in negative for the market. what happens with europe it is purchases. it will slow regardless of what happens with anything else they are in a deleveraging cycle. sit naturally slowing right now because of what they experienced the last few years >> thanks very much. >> thanks. >> by the way, chinese cmi 28 month low came in overnight. still signs are pointing to a weaker economy >>e whave four and a half minutes left of trade. we'll be back with the closing we'll be back with the closing countdown.family business

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same amount as those indexes there it is up 0.6%. here are the sectors for week. flipping to the dow this month bob is big swings. >> down and slightly positive for the month. there is that good finish we have had this week the dow is up 0.7% >> 1.7% for the month. >> the nasdaq just went positive as well. no deal, the president came out and said good signs. we had another leg up in the

middle of the day. bottom line is it's trump and tariffs and a little bit of the fed moving things. the big gainer this month. caterpillar up 11% for the month. >> want to check in on the battle for the biggest company in the world we have that up. back to you. >> happy friday. welcome to the closing bell. rejoining me in just a moment. i'm here with mike and cnbc senior market commentator. strong all around.

almost all of the groups ending higher ks septemb higher except for energy nasdaq popping by itself the rest makes small caps up half a percent that will do it. best week for the dow in about two years. best week for the s & p 500 in seven years. closing the s and p up more than 4% on the week finishing the month ieer we are now positive it is exposing 500 million guests coming up a professional hacker reveals why it could be even bigger apple was the biggest decliner

we compared a lot this week. >> yeah. i think it was a built by people who thought they could get a year end rally today is sort of interesting the market trying to express the ideas that it is not high in terms of what comes out of the meeting. by that i mean when we woke up monday morning it is not the vote passes or it fails. this is open to interpretation no matter what happens >> are you sure? once we get a excellent saying we are not able to reach a deal we'll go ahead with the tariffs and the increased rate >> and i guess it's priced in.

my point is the market is going to render what it is going to render it will continue next week my point is i think the market realized it was kind of more likely than not it was going to be some excuse to continue the rally coming out of this weekend. also fuinally it brought it int this neutral spot. >> it would not be enough. >> no. it would be positive >> i think the market doesn't feel as if it needs that open e presentation >> i'm stuck on the bear hug >> yeah. suddenly we have gone from a market that didn't respond to anything the first half of this year we could get bad news every five minutes. the market kept going up for an

extended period of time. now it seems like everything mattered i think in the near term it is kind of a coin toss whether or not it will be interpreted positively or negatively i think to some extent it is good news for investors because we want to focus on fundamentals >> let's talk about tech it was a tough month for the sector down over 2% some big moves in some of the major names like apple down 19%. twitter down 10% microsoft bucked the trend up 3% so much so we should mention at the close microsoft has overtaken apple as the world's biggest company. >> it happened >> back to the soccer sports there. micro sof microsoft biggest in the world >> yeah. >> obviously these are kind of distractions and moving targets.

it says a lot about how weak apple has been. it is fascinating because it has been a net drag. i think it tells you it is almost kind of reacting to its own dynamics in terms of what the corporate fundamentals are and how complacent some of the investors got. >> which is your preference in this environment microsoft or apple we should note it is trading at almost double what apple is trading at in terms of next year's earnings. >> yeah. i think it is super instructive.

i was investing when microsoft was a bull work for the market and when it was left for dead. so i think what it tells us is the management makes the right decisions you can return back to growth over time. in 2012 it was left then he would never be able to replace steve jobs the stock rallied dramatically we have to get used to the recalibration, no transparency, what's the next big thing and i think we'll find it services and something we haven't thought of yet.

look at the apple watch. it is just kind of been an outperformer it is bigger than swiss watch industry >> you mentioned for years everyone rightly commending the transition in the company after the great inflnovator. we should do that. >> sure. >> absolutely. he was considered to kind of presided over this lost decade very quickly kind of orienting >> i think it is interesting that tim cook is obviously celebrated ceo he failed his footsteps and investors and analysts are not giving him the benefit of the

dout to stop disclosing shipment numbers on iphones >> right i didn't answer your question. i am but i'm closer to selling microsoft than i was six months ago. we were doing the opposite i think it is because they get -- wall street gets embarrassed. they are like a woman scorned. they begin to pile on. you saw all of the downgrades that came through. i think it is an opportunity it is just like when amazon was in the hay day i suppose they still are it didn't matter what he did remember when he talked about the drones delivering packages and he said i don't know about that idea but the stock kept going up it is like he can't get out of his own way. i think it is a company that will successfully negotiate this transition and they will bring the street along it might take a while. for investors i think you get paid to wait >> thank you for that.

let's talk about the g20 meeting which is underway. we have the latdest. hi >> yeah. it is winding down here. it is 4:00 p.m. there on the east coast and 6:00 p.m. on friday evening we are reaching the end of a busy workday we have seen here with the g20 summit. a lot of multi laterals. tomorrow night that is the highlight of the event earlier today the president gave us a little bit of incite. le here is what he had to say >> we are working very hard. i think they want to and i think we would like to we'll see. we will be meeting with president xi in a little while but for the most part tomorrow i would say would be the big meeting. in the meantime people are

working. our staff is working a lot of very talented people working. representatives are dealing with them on a constant basis there are good times we'll see what happens >> so the president there saying if we could make a deal we would like to but we'll see so what could we see tomorrow in a lot of speculation and maybe that being just about it or sort of positive rhetoric and maybe the united states announcing that it is going to hold off on those tariffs. those are the things people are

looking at out here are possibilities for tomorrow and ultimately maybe some sign that both signs have agreed to continue talking it seems to be lower expectations here going into the weekend. >> yeah. to your point about specifics and papers and deal negotiations, what's your understanding of how much work has gone in from both sides ahead of this meeting? has he been working on this? how much behind the scenes preparation has there been in terms of the contours of some sort of deal? >> they don't show their work so

we don't flow what they consisted of but you got a sense there was talk coming into the session. we'll see whether it was enough to come up with any specific deal terms that could be announced as early as tomorrow >> we discussed this a little bit at the top of the hour in terms of market and expectations the performance in sector terms today doesn't suggest it has been based on hopes on china >> it seems more broad and more of a sense of whatever happens with china is not going to particularly get in the way of the other things we are looking at which is we had a very oversold market. it seems like it is a little bit softer we could probably live with what happens. that's the way i'm leading it right now. the dollar was up half a percent today. >> i don't know. >> i don't know. chicago pmi came in. >> i will say though industrials were higher this week. the best performing was caterpillar and boeing >> that's trade related.

>> it could be, yeah >> where do you want to buy if we get a truce >> well, i think some of the chip stocks that have been hammered like texas instruments i think is interesting in here they have huge exposure to china. i also think it's interesting that the president sited larry kudlow and singled him out i think that is good news and i think you want to be looking at some of the companies that have been talking about then you're right. boeing and caterpillar are two such companies you would think would not be rallying in the face of dpexpectations of a nondeal. i like where we are sitting and we'll be watching and making decisions based on that. >> we have to talk abiliout oils

well, guys plunging 22% during november closing out the weakest month in more than ten years. excess i excessive supply, weakerdemand they were very long in terms of big funds way at the top a few months ago >> that is interesting to see a woman brace between putinearlier today. today that pick up we did see, it pulled back a bit

it was a decent correlation there. >> i think it's likely the way that they would interact i think at this stage with oil this low already oil rebounding through december would be a net benefit to stocks not there. >> there is big dividends for the oil names. are you attracted to those >> yes >> we are overweight chevron because of the exposure. i think you can't walk away from a 4.5% dividend yield that is growi growing in low single digits we'll take more visibility in general. the supply issue is going to be

with us for a while producing at a handy clip >> and president trump repeatedly said he wants to see lower oil prices >> yes >> that oil crash began the day after he was killed. do we think it is fully an accident i doubt it does it continue is the job done? who knows? >> okay. we'll move on. thank you very much. have a lovely weekend. >> you too another facebook flash point today. coo reportedly ordered research followed criticism of facebook is she a media target? time is up we'll explore that story next. >> coming back from the g20 be some kind of deal with china

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sandberg asked facebook staff to look into whether or not he had a financial interest in the company previously he called it a menace to society in january. >> facebook responded to the times saying he is a prom innocent investor. we looked into investments that research was already underway asking if he shorted facebook's stock he said she takes full responsibility to discuss those we are joined by nbc news and msnbc.

we have been covering this story throughout if i start with you do you think that the new york times headline and story last night and with it reporting by buzz feed, were they onto something there or were the takes exaggerated >> the takes were exaggerated here you have extremely prominent investor who has a history of turning profits by shorting stocks. he notoriously broke the bank of e england in 1992. it would be an election of duty for an executive to say is it

not shorting our stock it fits so neatly into this sort of narrative that we have now of facebook being sort of, you know, this sort of notion that there's a gross mismanagement and that facebook is trying to hide something from reporters. any scrap of evidence sort of appears to about research it is sort of overblown or does it add to the whole culture and narrative of secrecy around issues like that sure he wanted to look into whether he was shorting the company. we should have known that after everything that has come out >> i think you're right. i agree that for sheryl to ask her staff to look into whether they were sorting the stock after he made the speech that

should not be a surprise i don't think that revelation is that sensational having said that i do think the reason why these criminaarticlee getting the attention is over the past several weeks it has been a sort of mixed confusion about what they knew and the role they played into it first they say they didn't know facebook had hired definers. a couple of days later sandberg says a couple of e-mails are saying they had crossed my desk. i think they are saying she asked the company to look into it it complicates things i think that the fact of her asking her staff to look into the, you know, his financial interest is not that big of a deal the questions of what's really going on there and whether the company would benefit from being

forthcoming from the very beginning. >> even if you failed at this particular example this has been overblown how big is the weight of opinion now behind more major changes at the top, whether it is ceo or bl it whether it is t many people criticize. >> the scrutiny on facebook, that's justified it is getting and certainly does the thing is that we know facebook is a company where that is a decision up to one person that person is mark zuckerberg you know, part of what's happening and i think part of what i found so notable about

these reports last night is there's really ban change in the way that the media and press covers big tech companies. there was a very long period of time where it was just what do these companies do today in the wake of facebook's two years new of scandal and controversy the question is what are these companies hiding it is beginning to leak over including google, amazon and so forth. i think it sort of is changing the public narratives surrounding big tech in silicon valley >> i think not just the media. >> i want to bring there mike. it is also changing wall street's perception. how does an investor read the story that we saw in the times about sheryl >> interestingly today it seems like this whole story line, whatever it was going to do to

sour investors it already did it before this week, right? the stock is up almost 7% this week it looks like maybe it made a little bit of a near term low. at this point my take on it is if anything happened in the position it would still be considered a negative to investors as opposed to people looking at her and saying wow, she is a distraction >> very quick, final word? >> just a final word that while the media has taken a much more critical stance than it had in the past and wall street has sold off since that high that facebook saw on stock price in july it is notable there seems to be bipartisan criticism from capitol hill we are very likely to see certainly a push towards privacy regulation more on data security which could not only be a cost

to facebook but just something additional putting pressure on the company as they move forward. anticipate moreov oversite from capitol hill >> thank you for weighing in on the latest facebook drama president trump signing his u.s. mca trade agreement with canada and mexico the agreement still faces roadblocks e rahthell you what and who they e rahthell you what and who they arstig aad making you wait in line. keeping billions of dollars of your interest. they've been treating you like you're lucky to have them. that's not right. show them who's the boss of your money. you. better is out there. ally.

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>> the dow up and that percentage was the same for the nasdaq and s&p a very positive week. russell up people sent running to the streets and triggering a tsunami warning. all flights were halted at the airport and the 800 mile alaska oil pipeline was shut down for inspection three people killed when a small plane crashed this southern i understood ind. it is believed it crashed taking

off. no survivors have been located a san francisco chef is the first woman in the u.s. to be awarded three stars. she celebrated with her staff where she congratulated her amazing team they also awarded one star to her new wine bar congratulations. adding a star on the hollywood walk of fame which includes three tony awards, three grammies all of this of course for his broadway show hamilton the ceremony comes 19 days before the release of mary poppins returns which he costars. congratulations to him that's the news update at this hour i'll send it back downtown to you. >> i love him. >> i think everybody does. >> he is such a talent >> i haven't seen it

>> you must see it >> i do need to see it underperformance in their portfolios it has the charts. it is a look at hedge fund positioning. it is from his own prime brokerage. they have less exposure. it means long plus short it is how much they have at risk it is for most of the year where we are right now at this

net exposure level brings us back into this zone. sit brexit and right here is sort of diamond bottom it is 2015 and 2016. what it tealls me is lightly positioned portfolios. if markets hold together that's likelihood we could maybe chase the rally. >> when i look at this earlier you're seeing a little more cautious i think emphasis on little it is opposed to deploy more money. >> there would be more money my interpretation if the financial markets remain healthy then it looks like caution it looks like it is probably

headed higher. if we had a total regime shift, if the markets will start trending lower then, yeah, absolutely if we look down here at 2015 you are much more defensive. >> all right great stuff. mike at the chart. >> will you be interested today with the chart >> we usually tease it highlight. hacked again the latest business to fall prey the cyber world. security experts would be here to weigh in on what business needs to do to defend itself to keep this thing from happening deal or no deal is what president trump is facing with his meeting at the g20 summit. ulmel ives and what that dea cod an

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chinese president if an agreement isn't reached they are planning to increase tariffs from 10% to 25% coming into this country. >> here to discuss what this moll policy means, rick president and ceo of american apparel and footwear association and kefren good afternoon to you all. give is specific examples of products that will see price increases and have done already. >> yeah. the ptd makes me nervous when he says we'll see what happens. although the talk there has been optimistic we got hit >> his favorite phrase >> yeah. i know we got hit in the wallet

literally. we have been able to hold off for now. when it hit it happened on september 24th so they were preticketed now they are in the stores and the president pardoned the turkey at thanksgiving and the retailers pardoned the consumer however we are in the real world right now and prices will go up no matter what if they go from 10% to 25% we are hurting big time >> some of the examples that we can tell you is handbags can go from $80 to $110 backpacks which i strongly suggested back to school people should buy two instead of one. it could jump at least $10, maybe $20. it's hard to say because it is mark up on top of mark up. >> yeah. he said we would see higher prices if the next round goes through. i guess alex, for you, you guys

like the tariffs don't you >> well, we are contract manufacturers. we pass it on. we think of companies like caterpillar. it is hard to say we pass a price increase on. it has been from 2 to 4% even though the tariff is on steel or aluminum it is industrial equipment so there is other parts that go into it. what i have seen some oems do is pass it onto their dealer. you think of them selling tlau dealer network it is hard for us to see what is john deer doing? are they running special deals it is spread out across the supply chain >> what's your view on this even in the worst case scenario do you think it will have a big

impact to have supply clhains there? >> not as big as people think. i want to point something out. in the last three years the cost associated with manufacturing in china, and i have about 37 portfolio companies involved in manufacturing that are domestic manufactures, that buy components or used to, the cost of buying in china have gone up dramatically this cost inflation, so these companies have been moving to places like street flavietnam ay have been doing it over the last three years. this is a very successful company out of boston that makes greeting cards these are laser etched in a unite football field facility. they are hand assembled. there are no tariffs in my portfolio we did a survey.

we found that 65% would be effected in some ways in componentry. it is too expensive for companies under 500 million in sales. nobody has looked at that. that's why i think the chinese ambassadors, the team sitting down there are sweating bullets. they can't afford to keep losing manufacturing the way it is going to vietnam and other places think it will be more flexible than other people think. >> yours have not moved production there is still a ton of production why haven't they moved >> you know, for years in our industry prices have gone up in china. everybody said we have to get out. the chinese are really good at one thing. they raise productivity.

they are able to stay ahead of what the cost is it is 41% for apparel sit between kline that and street flam to the united states that's 55% of the apparel you take the five countries that supply the united states, that's 70% of the market. so you know what that means? we don't have a place to go. that's going to be inflationary if they do hit it will try to vacate right now many are public companies

this the 45th president of the united states and he wants a 45% tariff on china. he said that numerous times. we are feeling the pain and feeling it a lot we are listening but it seems like there's no strategy here judging by what you said earlier do you hope president trump plays hardball still with china? >> yeah. i'm there now. i have been watching this for 15 years. i have so much invested in patents in the u.s every time i start shipping it i'm ripped off by chinese manufacturers. i find it on all over. i'm sick of it i'm tired of it.

i want to go to war and i want to go to war on access to market if we are not doing it now when are we going to do it? these guys don't play by the rules. i say go down there and squeeze chinese heads. keep squeezing they are hurting just as much. i have been ripped off so much millions of dollars and everybody says that's just the way it is. no that's not the way it is let's fight back go get them i say. >> goody v divergence there. he got one of his shark tank company plugs in that discussion shares of marriott, take a look, had a hard day today plunging after a massive data braefr breach why it could be worse than why it could be worse than originally suspected next. there are doers of good and bringers of glee.

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the global investment management businesses of you're still here? we're voya! we stay with you to and through retirement. i get that voya is with me through retirement, i'm just surprised it means in my kitchen. so, that means no breakfast? voya. helping you to and through retirement. welcome back the company disclosed the data breach exposing the information of 500 million customers. joining us now is jonathan, ceo of red tyker security. he gets paid to hack into their systems in order to prevent cyber security breaches. thanks for joining us. it almost feels like we have become numb to this. so many data breaches. the numbers go from bad to worse. how does this one scale compared to some of the others in terms of the size and scope?

>> well, it's ten times larger than the facebook hack when you count the numbers that were effected it is so difficult to secure a network these days they only identify one vulnerability to get in. this one was in the network for four years what did shock me though is that many of these large companies and smaller companies aren't doing it enough to protect their assets against cyber thieves i mean they need to spend a lot more money on personnel and tech flolg. -- technology most of their staff is not trained properly these guys are really good at it these days at hiding urnds tndee radar. they are listening on channels and incrypting the data. i wasn't that shocked when i saw that this happened i just hope the message gets out

there that businesses need to really value their cyber security program, their personnel and technology defending their assets >> there terms of the actual bits of date that tha they havet information, not just data birth and credit card information. is that fair to gauge that as worse than other hacks. >> absolutely. because if a credit card is compromised that credit card is only alive another several hours beforethe credit card company shuts it down. but when the personal data is compromised, this affects identity theft that could potentially happen any time now in the future. these guys are selling the personal data to other people creating false accounts. and i would be mainly concerned about identity theft and it's affecting a lot of people one thing i realized when i read the marriott website in terps of what users could do to protect

themselves they are offering a free monitoring service if it's a free service sign up for it but it's not enough. it's just monitoring the name and other things that might show up on the normal web what you need to do is make sure you have lifelong or some system that's watching your credit. because your credit can be compromised any place any time it's probably on the dark web anyway that's not monitored by the services >> xiong be, come back we have more to talk about on this. >> thanks for having me on the program. >> jonathan polay. president trump signing the deal to replace nafta ahead of the g20 meeting. next step, congressional approval we talk about the likelihood of we talk about the likelihood of that next. ron! soh really? going on at schwab. thank you clients? well jd power did just rank them highest in investor satisfaction wirvice brokerage firms...again. and online equity trades are only $4.95...

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welcome back president trump signing the deal to replace nafta ahead of the g20 summit earlier today and ylan mu y joins us with the next steps to get it fully over the line >> hey, wilf, the deal heads to capitol hill where there is no guarantee that it passes this won't come before congress until next year when democrats control the house and today presumptive speaker nancy pelosi says she is open to the deal but wants changes. >> what isn't in it yet is enough enforcement reassurances regarding workers -- provision that is relate to workers and to the environment. there also has not been a law passed in mexico in terms of wages and working conditions in mexico so when all of that happens people will make a judgment about whether they will be support going. >> now some democrats are

already knocking the agreement, including senator elizabeth warren and chuck schumer says he wants the deal to do for more dairy farmers raise wages and address climate change some republicans are also pretty skeptical of the deal, senator marko rubio tweeted the usmca would put the seasonal vegetable growers in florida out of business america has to get vlk vegetables from mexico, unacceptable bob lighthizer addressed the deal chance in congress. he said a high number of democrats will support in deal he does consider it bipartisan but, guys, he said he will not reopen negotiations on this deal so any changes have to be tweaks not a major rewrite. back to you. >> sounds like even if it can get done we're not close yet this isn't an imminent situation. >> we are not close. >> ylan muy in washington. we are looking at the key

economic dat for the next week when the "closing bell" comes right back

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ism manufacturing data for november and tuesday november auto sales numbers as well as numbers from hue let pack ard and earnings from hulu lieu lemon and h and r block. thursday brings trade balance figures. alta, american outdoor brands. friday is the super bowl, november jobs report that's the biggy. >> it will be. the stakes are rising again for the jobs numbers now the fed is in focus now that unemployment claims picked up off >> what do you think of energy i've seen analysis that largely energy patch layoffs in the last few weeks. i would point to ism monday because if if you think we are looking for excuses for the fed to get more dovish you expect who are hope for the ism come down if you want the good news good news you want it to hold up. >> one other thing to promo i'll

be at the goldman sachs financial conference with a number of of big exclusive interviews, including ceo tim sloan. i can't believe my picture is on there. >> i'm laughing at your face. >> tim sloan, brian moynihan and paul marks amongst others. you want to tune in for that. >> it's to scale. >> enormous. that was does it for "closing bell." >> "fast money" begins right now. have a great weekend >> "fast money" starts right now, live from the nasdaq market site overlooking new york city's times square traders are tim seymour, brian kelly, steve grasso guy adami. tonight the meeting that could determine the fate of the market is under way as president trump and president xi go head to head in argentina we tell you all the words that wall street waits to hear. health care is surging if you missed the rally don't worry, the chart master says there is a group of stocks that could help you join the party he explains. first we start off with what was a big week for