good morning. it is 8:00 a.m. in seattle. in 11:00 a.m. on wall street. and squawk alley a live. ♪ good monday morning. welcome to squawk alley. on a day where we got record highs on the s&p, nasdaq and now the dow. >> we begin this morning with amazon continuing to drive fear amongst its competitors. the "new york times" putting out

a piece over the weekend diving into the tech giant's cloud computing arm saying it's quote snuffing out the competition. joining us now to discuss with us on set. >> happy monday. good to have you. >> the central question i think here is when is this sort of behavior selling your house brand not okay grocery stores do it. best buy does it. you know, they got best buy internal brand tvs and what not. is amazon so powerful and got good market share that this becomes kind of a soul crushing and anticompetitive activity. >> this is one of the biggest companies in america inside one of the biggest companies in america. if you spun it off it would be massive within amazon which has been accused of this kind of thing around retail, around all kinds of services it offers, it's not a great look for it.

actually, this company even though google and others have gotten into the business, it still dominates and keeps it rating feature after feature after feature. if you're a small software player, you've got to play with them. it reminds you a lot of microsoft back in the olddays. so the issue is have they gone too far in terms of using open source to then out -- to sort of strip mine other people's innovations. they make freely available so they can get other business. you can't compete once they start to copy. >> we are mongo db's ceo here. they're dealing with this issue themselves with amazon taking the same open source database that mongo is using offering it on -- it's the terms on the platform and sort of the ease of use on amazon's platform that's part of the issue. >> it's automatic to use it on

amazon. if you use other than it's harder to do. this is very similar to a lot of things. whatever is happening around the way, that's one of the reasons they're not on the platform because they would copy it. if you look for a way on amazon, you find a suitcase amazon is making. you can see it in retail much more easier. amazon has an argument of making them easier for customers. ease of use for customers are great things. the issue is when does it zero out everybody else's innovation. i think they're being investigated. there is a bunch of investigative bodies where this is going to be looked at especially a.w.s. they're point to competitors at microsoft and google. that will be their argument. >> is that not legitimate argument. >> if you look at the numbers

aws dominates. jeff besos called it a -- they did -- the others are trying to catch up. what happens is when elephants fight, the grass gets stopped, so innovative software companies have a hard time. they have to play with them. so that's the issue. >> they compare it to microsoft certainly a number of these companies are under anti-trust scrutiny. between the article, you think that there is of the different companies that we talk about that this could be one of the most substantial cases. >> it doesn't matter to the stock market. they are up like crazy. up and to the right everyone of them. so even if facebook or amazon or others are facing the scrutiny, it doesn't seem to effect wall street in any way. i think there probably will be

one of these companies will attract this anti-trust action. the issue is keeping ahead of it. they're like once we get one place, they're one place else. there was so much evidence and testimony. this is much harder, because it moves. >> i think this issue could get more complicated, too. yes, you've got amazon with overall clout. if you're talking about crm, sales force is extremely important as a platform for some of those companies. last week we had an ipo of a company that relies on intuit. it can be an incredibly important platform. do there need to be rules of the road for the cloud platform companies because of their power even in these micromarkets. >> it's land of the giants is what it is. the whole point of innovation is

to allow the small companies to bubble up. if they have to play by the rules of the big plormz and then get zeroed out when they have something worth copying, that's a problem when it's a clear copying of other people's innovation. >> from a stock standpoint, we put up the f.a.a.n.g. names. amazon is lagging everyone except netflix. i wonder if the market is starting to sniff out something that breaks in 2020. >> they have a harder business, that's all. the others are minting money. we'll see when if regulatory things really do happen. these investigations do take time. there is some in the state. there is some federal ones. there is justice department, ftc. it's certainly coming down the path. the question is what can they do about it and then once they do something, is it enough for the next generation that's the difficult thing.

>> i want to also talk about your column you recently wrote about uber after the company's report identified more than 3,000 incidents of assault in 2018. you applauded the company for, i would say the report that they released and used that report to point out the real reason that tech issant safe. these plormz aren't engineered to be safe in the first place. i tweeted about this uber report saying that i think the report itself, the way it was structured was really good and admirable and should be copied by others. i got attacked for saying something good about uber. >> they're just awful. they got out in front of this thing. nobody ems has done the reports including the taxi industry. maybe it's this bad because it's rr bad everywhere else. data always gives you information about what's going on and then leads to reforms. the point i was making is using it as a larger thing is that

most people that design a lot of things that are considered unsafe, the reason they're this way is because it isn't designed. safety is not a concern in the beginning. go go growth is or market share. the people who designed it don't feel unsafe. a lot of people who created uber are young men who feel great getting into a car. it's like just a second. there is nervousness. so they're not even thought about. the safety features especially background checks, that should be the lowest hanging thing you do when you're doing these services, but it wasn't done. safety of the cars and now he's having to clean all of it up. he gets dinged for not being visionary enough which means not being unsafe which is kind of fascinating. he's got a tough road. now i want to know what they do

about it. >> i can't help but think that it's a longer term bull case, if you will, at least from a safety standpoint from uber. the longer term arguably you will improve your reputation and have more consumers who want to use your product. >> what are the steps? some of this is just life is fatal. so you have to like -- there is going to be lack of safety. it's a question of what safety things you can put in place to mitigate. tech companies go humans act like this. russians cheat on our elections. people are terrible to each other. that's not really an excuse. if that means what are you going to put in place to make it as safe a system as possible? they never think of it from the beginning. >> it's new and it's a new thing.

safety to me a really big opportunity for silicon valley and lots of tech companies is what is safety can you make a business out of really promise s safety to people we'll see if that's the case. if not, people trade convenience for safety, there you have it. >> if you look at some of these dating services that women have started, a lot of them are engineered to shift the balance of who gets to have initiative and it has safety implications. things can be engineered that way if you try. >> if you start from the beginning. now they're bolting it on. first beginning is transparency. i give kudos to uber. i hope i get a lot of tweets at me. you want them to not do this >> you think we will get a report like this from lyft >> where is lyft >> contradictrickets. >> a lot of businesses have

employees who do bad things. the only way to get clarity is -- >> especially when there is so much human to give an interaction. >> it's not just the customers getting assaulted. it's the drivers, too. >> thanks so much. >> when we come back, it's the trillion dollar question, what to do with tech in 2020? getting a check on major averages at this hour. we have record highs again for the dow, the s&p and the nasdaq. squawk alley is back aer ts fthi short break. don't go anywhere. woman: my reputation was trashed online. i felt completely helpless. my entire career and business were in jeopardy. i called reputation defender. vo: take control of your online reputation. get your free reputation report card at reputationdefender.com.

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tech continues to build on all-time record highs led by calls on micron, western dig. the sector is trading at 22 times, continues to outpace the s&p. joining us is senior tech analyst. welcome back. >> thanks for having me. >> you spent a good part of the year writing about how tech has gotten more expensive. that hasn't changed. so what does that mean for 2020 in terms of play books >> i think really our observation is that both tech is more expensive and particularly for high priced tech stocks, expectations are high. now, that means there is just more risk in the sector. structurally tech is a stronger growing sector.

return on invested cash flow metrics are very strong for tech, but you're fully paying for that. expectations in terms of five-year growth rate for tech is very, very high relative to issue. so our observation is tech is riskier today. there has been huge multiple expansion in the sector this year. so investors need to balance that and be really selective. we're advocating a market wave in tech. we're advocating that investors focus on reasonably priced names that have high quality indexes. and be cautious about higher priced names. we have seen this play out with the rotation more towards value oriented names. we think investors should continue with that play book. >> how do you balance it, though, when investors are -- the bulls pound the table saying there are secular stories that investors still don't get the

potential of, 5 g, autonomy? over time those expectations have been fulfilled. >> look, that's the trillion dollar question quite frankly which is there is a price for everything. and we do hear from investors. there are new cloud models that are quite different from what existed 10 or 15 years ago that allow for higher levels of free cash flow and greater sustainability. that may be the case, but you're likely pay frg that. tech valuations are at 15-year highs. tech has outperformed the market for seven straight years. in the last three years, all of the outperformance has been driven by multiple expansion. in the first four years it was all by superior earnings growth. the last three years has been multiple expansion. i think it's too tough to say

this is going to reverse because there is better structural growth in tech. i think investors need to be aware that they're really paying for that now at elevated multiples. we would air on trying to find high quality names with more reasonable valuations. >> i want names. like what? >> we run a bunch of quantitative screens. names that scream favorably are names like dell, f 5, apple, check point software. these are all names that are in the bottom quin tile of or second of valuation and have high quality scores. conversely -- >> you say apple, but you have been kind of behind on apple for much, if not all, of the year. are you changing your tune on that stock in particular were you wrong or do you still think that that's at the high end of the

range where it has been trading and investors should be cautious about that, too? >> very fair point. look, let me under score. we run quantitative screens. there are probably a list of 25 names that fit these criteria. apple happens to be one of them. we have been neutral on apple this year, and it's been the wrong call. we've missed it. i think anticipation for 5 g plus continued success in services has propelled that stock higher. my guess is over the next six months the stock could continue to go higher based on those tenants and based on the fact that from a quality perspective which is something that we think the market is seeking out in a time of high valuation and uncertainty, apple has that. to answer your question, we've missed it this year. >> i mean, a lot of people had their doubts, too, when they cut guidance and bought back 100 billion in stock.

stocks doubled since then. what if we divided into silos like sectors >> you know, software, again, you know, i wouldn't pick subsectors per se. i think our governing theme is to try and find high quality names at reasonable valuations. that's generally easier to do in hardware, but you have to be very selective. dell was a name that screened positively on the hardware side check point is a name that screens attractively. for us it's really and quality is a function of confidence in earnings and earnings and revenue growth visibility. so, you know, again, when you're in an environment where valuations are higher, you want to have high conviction in particular if you're going to pay up in good earnings visibility and quality. and so that's really our message rather than you need to

overweight specific subsectors. >> you've been honest and candid all year long as the stories evolved. we appreciate your guidance as always. we'll see you soon. >> thanks for having me. >> when we return, the ftc going after facebook ahead of talks it's looking to merge its social media apps. former facebook policy adviser joins us to discuss. squawk alley's back after this. don't go away. hnson is a baby company. but we're also a company that controls hiv, fights cancer, repairs shattered bones, relieves depression, restores heart rhythms, helps you back from strokes, and keeps you healthy your whole life. from the day you're born we never stop taking care of you.

welcome back to squawk alley. steve burke announcing his retirement from our parent company. >> that's right. steve bourk is stepping down from the ceo role on january 1. he will be chairman of the company until august 14 after the tokyo olympics. appointed new ceo of nbc university is jeff shell.

he will report to burke until his retirement and then to brian roberts. burke has been ceo since 2011 when comcast closed its acquisition of a majority stake. from 2011 through last year nbc universal nearly doubled the earnings. burke secured the broadcast rights to the olympics. he engineered the acquisition of dreamworks animation and created a cross program company called symphony. burkes' replacement is a 15-year veteran of comcast. he's worked with nearly every part of the company and has key international experience. in january, shell's job was expanded to be chairman of film and entertainment. before that the movie studio built out the franchise strategy and recorded record profits.

before that, he had no movie experience. he had been chairman of nbc international. before that, president of comcast programming growing its network's reach and profitability. right now the priorities will be focussing on the launch of peacock which is coming up in april as well as maximizing the value of nbc universal's brands amid cord cutting. he'll continue to serve on the boards of jp morgan. he wants to spend more time at his place in montana. >> thank you. european markets set to close soon. seema mody joins us with a look. >> european stocks hitting a record high on track for its fourth execuconsecutive month of gains. that puts the brexit plan on

track. predicting a four percent upside between now and next march. it is bullish on u.k. banks and home builders. you can see the banks are up by around four percent to five percent. >> another story involving china and europe over the weekend under fire after distancing from one of the players over his criticism of the treatment. arsenal saying the comments were entirely his and that he ad heres to the principiplprincipl. the criticism was met with outrage in china including the decision from the broadcaster not to air sunday's match. it follows a similar move by the chinese to block the houston rockets basketball game after the general manager tweeted support for the hong kong protests. >> i can see china's reaction to

sports leagues around the world. really interesting. thank you very much. the ftc readying anti-trust action against facebook. we're going to talk to former commissioner about that move from last week. in the meantime, dow is up 170. squawk alley is back in a moment. - at southern new hampshire university,

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welcome back everyone. here's your cnbc news update.

rescuers scrambling to find at least seven people trapped inside a three-story building that clapped in the strong earthquake in the philippines. harvey weinstein says he is a pioneer in advancing the careers of women in the film industry. in an interview he says he made more movies directed by women and about women than any film maker for the past 30 years. he face as january 6 trial on rape and sexual assault charges. after a fierce back lash, the hall mark channel has reinstated ads featuring a same sex couple that were pulled from the cable network. the ads feature a lesbian couple celebrating their marriage. nbc universal and comcast ventures are investors. and eating a healthy diet can keep your cholesterol in check according to a new advisory from the american heart

association. scientists found diets that emphasize fruits, vegetables, whole grains and poultry are naturally low in cholesterol. you're up to date. >> sue, thank you very much. facebook outlined plans to make access between apps seamless. now those plans may be under threat. the ftc reportedly planning potential action focussing on how the plans will affect consumers and competitors. with us here at post nine is former facebook policy adviser mozel thompson. do we believe this is true >> well, the answer i would probably say is yes. let's talk about this for a second. you know, when you have any sort of investigation, regulatory agencies begin by surveying the market, asking your competitors and everybody else what's going on out there. i have no doubt some of the competitors including some who

are mentioned in this wall street journal article have asked the ftc to weigh exactly this remedy, because they would like to see it happen. i'm not sure that that's the end of the discussion. >> you're not suggesting the agency is being used between rivals, are they >> no. that would never happen. are you kidding? no. i think that, look, companies do what they think will be to their strategic advantage. i think that it'sologist political silly season so you have people who have political interests, too. i think the burden is high for the ftc. if they want to go in for preliminary injunction, you have to show some sort of emergency. instagram was bought by facebook seven years ago. what's app five years ago.

you're going to have to -- there is already a lot of things, commingle, scrambled the eggs. i know we have talked about this proposal. that's not the only thing that they've worked on together. so in order to get some sort of emergency, you have to show something so extraordinary now that it warrants the court intervention. if the court intervenes now, that means the ftc would have to put on their principle case now. >> at the same time, you can't unscramble this egg. once they actually join the data in the platforms, you can't really separate them very easily anymore because then they've got models based on that co mingle data. given all the problems that there have been with data getting leaked and used in ways that facebook didn't intend, can we afford to have them move forward with this when there are questions about it >> you have to think about what is the consumer benefit versus

consumer harm. >> i can see the harm. >> i'm not sure i can. i think that if you look at some of the benefits, i can see how there could be some consumer benefits. at this point -- >> to mingle in your facebook data and instagram data. >> there is a lot of stuff integrated. don't forget the ad models. >> what does mozel get out of that >> to the extent that it's very easy for me to transfer data and for facebook and instagram to know what it is that i want and what i don't want would make it much easier. second thing, this is a service that i'm not paying for. so that it enables the company to keep providing that service. i can decide whether i want to participate in that or not. and i'm sure that one of the challenges for facebook and for instagram is to give people choices about what happens to them.

and so that's still something that i think is an opportunity. >> i can't help but think there are many -- there are so many cooks in the kitchen when it comes to scrutiny of facebook. many big tech companies we have been talking about whether lawmakers, ftc, doj, how is everybody going to work together are they are they not how does this essentially muddy the waters >> i think the investors need to relax a little bit. >> they seem relaxed. >> it's hard for me to think that something can happen immediately. as you point out, there are a lot of cooks in the kitchen. one of the things that generally happens is that the states and the feds tend to work together so they don't duplicate their effort. now, i don't know. i'm sure that they have already met to discuss that. i don't know whether this particular proposal is one that will throw a wrench in that or

not. but it seems to me that in order to have an effective investigation and prosecution if they think it's necessary, that's actually going to have to take some real thought and strategic decisions, not something that can happen really quickly. >> do we think that the fact that ftc has formalized fines against facebook, does that make then, do you think, more aggressive in regulation or not >> no because i think it's a different side of the equation. it's the privacy side. it's the consumer protection side, not the anti-trust side. that's a different kind of animal. they're two different divisions. the fact that there is already been a fine is not determining what the outcome is here. >> where do you think that leaves the ftc as far as how much room they have to make this call and justify it? you seem to be arguing that -- i'm not clear on the benefits of

mingling the data. it sounds like an advertiser benefit and a facebook benefit. will it be a stretch for them to say hold up, we have some decisions to make? >> i think that they have -- for the ftc, the talent for them is if they decide to perceive right now and they claim that there is some sort of emergency and the court decides that there is not an emergency, you have to show that there is a likelihood of some positive outcome once you get engaged in litigation. they've only been doing this for a fairly short period of time. there has to be a slam dunk case in order for them to be doing that right now in this early stage. i think that one of the things you always weigh is whether if you're not successful, what likelihood it will have to have a negative outcome because you're in front of the same judge later on in looking at the

case. that's a real challenge for them. now, i don't have what they have in front of them, so i don't know. that's what i think the challenge is. >> that's good insight as to how the regulators might be thinking. thanks. good to see you. >> thank you. happy holidays. the terror queue rr. we'll take you inside google's largest content moderation facility. first, rick santelli, what are you watching today >> reporter: it seems like a global wind blowing many indexes around the globe higher. what does it mean? have wrehethe acd e bottom and things will open up? we'll discuss all the possibilities after the break.

good morning. thank you. you know, there is so many things that we have labelled uncertainty on over the last several years. but i really don't question the fact they are uncertainties. what is very difficult to handicap is how those uncertainties can be measured in terms of how much inursha, how much downward force they put into the market place. that's really all that matters, because if we have this feeling that whether it was brexit or the trade infractions or tariffs or all these things put together, if they're weighing on the dploebl economy, what happens when they disappear? and that really is a big point.

you know, there is an old addage on trading floors, the issue remains that when we know something, how does that change how the market interprets it today we had the home builders sentiment index. this is december so it's real time. 76, best level since june of '99, 20 years. we can see anecdotal evidence all across the globe. and it is slowly disappearing. look at a one month chart of the u.k. stock market. it shouldn't be shocking that had had a nice move to the upside after the very solid victory. it really represents in a way more than that. all throughout europe, investors are becoming tantalized. they're teased by the notion that if bottoming action does

occur, you want to jump into those markets that have been beaten up the most, have performed the worst. so you try to look for those multiples. so multiples multiply. has it occurred yet? no. i can tell you, if we are as impressed as i was about how the markets acted in an uncertainty world, i can't imagine what the dynamic of capital flowing with the hopes that the global economy has bottomed whether news in china, foreign exchange markets, that this is the time to be getting in. what would be the figure for that let's watch the rest in europe. if they get a second wind, i'd be very shocked if investors don't start to reverse some of the money going into the sovereigns and go back into the equity arkets. >> as we head to break, i want to mention intel acquiring

israeli chip startup strengthening the ai portfolio. the stock is up almost 1 percent. fat joe dropping knowledge on music's place in today's business landscape. squawk alley is back after this. snhu lets you transfer up to 90 credits toward you bachelor's degree. - [woman] it doesn't matter how old you are, you can do it, you can finish. - [spokesman] finish your degree at snhu.edu

toxicity at youtube isn't just an online phenomenon. tasked with keeping the site free of violent extremism. here is one former moderator's account. >> i was having nightmares. i wasn't sleeping. i had spent multiple days just crying in the bathroom.

and, you know, i was having all of these panic attacks. and my work productivity just dipped. and finally, you know, my manager was like listen we really need you to step up your productivity game. and i just snapped. and i turned to him and i said do you understand what we're looking at we're not machines. we're humans. we have emotions and those emotions are deeply scarred by looking at children being raped all the time and people getting their heads chopped off. >> joining us now is the reporter behind it, silicon valley editor casey newton. thanks for joining us today. this is certainly a topic more broadly content moderation that you have been breaking news on all year long. tell us a little more about what you found out is happening at youtube. >> reporter: part of what i have been trying to understand this year, one of the thoughts i had was maybe if you paid the

moderators better the work would be easier. what daisy's story tells us is that is not necessarily the case. she had the gold plated benefits. she had the good -- but they're doing it for $18.50 an hour. there is a real injust tls ooirng. >> the fact that it's companies like alphabet google that are in focus, how much of it should be falling on some of the companies that this type of work is being outsourced to, as well >> i think some of these other companies need to answer for the working conditions that they have created. but i think it's important to note that alphabet, facebook are very prescriptive in how these centers are set up.

they are acutely aware of what the working conditions are and choose to allow them to persist. >> you think they look at this stuff every once in a while? sometimes it helps to do what the workers do does she have an in-person i guess experience with every now and then having to moderate this stuff? >> my understanding is that yes she has dipped into those queues and the people who work on trust and safety which is the division that includes content moderation, they tell me they are shadowing the moderators. one of the things you learn when you talk to the moderators is it is typically not what you see on a single shift. it's that repeated daily exposure for three months, six months or two years of doing this work. >> i was struck when daisy said

we're not machines which reminds me of th remove some of that burden on these moderators but we know that when it comes to content moderation, a lot of judgment calls you have to make and machines are not going to be in a position to do that for a very long time what i fear is happening in the meantime is these companies are throwing up their hands and they're saying don't worry, machine learning is going to fix it and they're sort of letting that paper over the fact that right now every day tens of thousands of moderators are subjected to imagery that quersm what is the fix then any best practice on this? fewer hours at a time doing it, moving around to different cues? what is the answer to helping these workers psychologically? >> i don't know that there is any one answer, although i do

like both of those things that you just described in my mind, it makes a lot more sense to be rotating these workers on and off cues instead of forcing them to review terrorism and nothing but terrorism for two years every single day that seems like there is a problem. i want them to conduct research. we know when it comes to certain chemicals a maximum level of exposure before you and i start to experience health problems. a similar understanding to how the content affects psychology invest in research to see what this work they're subjecting these workers to is doing to them over the long term. i think that would be a great starting point >> yeah. those are some key potential solutions or at least moves in the right direction, casey i wonder if it's time, i feel like for so many years we've been hearing from so many of these tech companies that the internet is going to be a great place and create a more connected environment and open up the world, et cetera, et

cetera, et cetera, what we continuously see over and over the dark side that will not go away and mushrooming up at a more alarming rate i wonder how that plays into these work forces at these companies and what it means for longer term whether just how involved humans will have to continue to be >> yeah, well, i think it's a great question and for me what i believe is that the internet needs a police force. just like any other society needs a police force what happened is that instead of treating these workers like the police officers they are, they'retreating them like they're doing the absolute most menial labor they're not valuing at all i think to improve the situation, we have to start by treating this work with great respect and surrounding these folks with much more support than they ever had because, my gosh, do they deserve it >> casey, great reporting. thank you for joining us we did reach out to google for comment. we have not heard back yet, but

you can go check out the full report >> thanks, morgan. > dow very resilient today and just five points away from s&p 3200

>> we use the music. culturally we love music but businesswise it just gets you in the door and it is almost like a coffee book. it gets you in the doors you need to get to because the kids love it, so their dads and their moms and they own big companies let me look more into this guy fat joe and it becomes a conversation piece once they meet me they are like, we can do something with this guy. let's get money. that's the only way to view music now. almost like a giant commercial to lead into other businesses. >> yeah. oftentime the money isn't coming from the music itself. that's hip-hop artist and entrepreneur fat joe discussing the business around the music industry we had a wide-ranging conversation at his sneaker shop touching on his new album with

dre, family ties and money mistakes and a lot more. for more video go to fortt.com redirect you there another great interview, john he is absolutely 100% right in terms of what we have seen happen in the music industry and the content creation, you're not necessarily making money off of it streaming is a fraction of what it used to be. you're making money off the ability to market that and leverage that for other types of investments. so, interesting to hear him talk about it because he's been in this game, he's been in the music industry for so long >> unless you're taylor swift or beyonce. >> they're the exception to the rule >> yes, indeed >> nice stuff. meantime, market continues to respond here to the news over the weekend and sort of the clarity we got over trade policy we'll be waiting to see, though, u.s. embassy get a vote out of the house finally and amid some

new reports that maybe there were some things that slipped into the bill that, a lot of clarity has come to the, mat in the past few days. also going back to the music conversation for a minute. flag to the doj is preparing to take legal action against live nationentertainment. strongarm concert venues into using ticket subsidiary. expected to claim that live nation violated terms of its 2010 settlement and place conditions on the company to ensure fair competition for one live nation was retaliating. guys, i think this is one to watch not just in terms of live nation, but also given everything we have seen play out with t-mobile and sprint there does seem to be a critical eye on some of the mergers and deals that have been approved over the years and what it has

ultimately meant for competition in those industries. >> unintended, but perhaps foreseen consequences. we're just talking about this when it comes to facebook and amazon when you start to snap up these competitors or even ancillary products we don't want you using it in this bad way what is to stop him from doing it once they do, what are the new rules as technology advances to protect the consumer will they exist at all don't know >> yeah. meantime, markets at record highs, again as we finish out the last two weeks of the year in terms of trading. kind of amazing. >> all right, two weeks from tomorrow, ten year getting, once again, close to 19 let's get to the judge and the half carl, thanks so much i'm scott wapner the final two weeks of trading are under way. is your money cleared for takeoff? it is 12:00 noon and this is the

"halftime report." the road to record highs the stocks that should be on your buy list headed into year end and beyond boeing getting clipped growing concerns about the production of 737 max jets what's next for the stock? financials hitting record highs. one of the best performers this year and a bullish new call on goldman and a number of other names. it's our call of the day