i said if it breaks through 105, it's a good time to buy. it's going higher. >> joey. >> 5g technology coming in 2020. strong holiday season and no further tariffs being implemented. that leads to price appreciation for best buy >> minneapolis >> it's up that does it for us. the change starts now u. . s&p hitting 3200 for the first time dow and nasdaq hitting new highs as wall street taking back the trade and year ahead plus investor access versus investor protection you wou would that do more harm than good then a look at how easy it is to sell trash like real trash, on amazon you don't want to miss it. but we begin now with the markets and dom chu who has the numbers. >> i got to hear that story, but like you said, weather got records across the board 3200 as you can see here

the first time ever for the s&p 500, but we're going to put little yellow stars next to every one of these things because they did hit record highs in all three major u.s. indexes. so the dow industrial, s&p and nasdaq hitting those record lefl levels we were up 12 at the highs, so right towards the high-end of the range now the interest rate story, especially long-term interest rates could be one of the biggest themes you'll play out in 2020. can we see those go higher at one point about a year ago, the ten-year note yield was 2.86%. at the lows, earlier this year, we were 1.43% and you can see here, just hovering around 1.9 now. will rates go higher will the trend continue? that's a big theme to watch. then the stock of the day. con agra because for the longest time, this stock has been stuck in a tight trading range. you can see here, not much movement but here wharks a breakout today. better earnings, better sales. improved forecast for 2020 and it's all thanks to among other things, andrew, frozen and snap

foods. con agra, your stock of the day, the best performer in the s&p 500. back to you. >> we have breaking news want to get to elon who's got that news. >> well the senate now has enough votes to pass the first of two spending bills that would fully fund the government through the end of the fiscal year the vote tally is currently 63 to 18. so more than enough to send this to president trump's desk for his signature. now it is unclear when the senate will vote on that second funding bill but of course we will keep you posted and let you know when we have more >> okay. appreciate it very, very much. we want to switch gears for a moment because kayla is also in washington right now as we wait for that, we have another vote this one within the hour expected to be a landslide we can tell you on the u.s. mca kayla. >> yeah, just on the other side

of the capitol building here, the house is continuing debate for about two hours. we're near the tail end of that and we're expecting a vote on the usmca within the hour. the white house expects this to pass with broad bipartisan support. it's a a year end victory lap following last night's impeachment debate and the trump administration believes it will significantly increase gdp growth despite the fact that the noncongressional budget office estimates it will also $3 billion in additional tariff revenue by the u.s., largely paid by auto companies steven mnuchin was on cnbc today and he said not only will this deal replace nafta, but it will set a new precedent for other deals. >> this trade agreement is going to be the model of what we use going forward in many of the chapters and a lot of the currency provisions that we developed in usmca were put into the china trade deal so that's one of the

examples >> some of that usmca language is already baked into the 86 pages of the china deal with secretary mnuchin andrew says, he's very confident will get signed in early january. >> kayla, thank you for that report meantime, to help us try to wrap our heads around all happening in d.c. and how investors should be die jesting it, want to bring in robert schwahah peer and derk czyz ors good afternoon i should say to bo both let me ask you this, robert. the thing i was trying to understand as i heard secretary of the treasury earlier this morning, this idea that being a model of this usmc ara deal beig the model and what it really means going forward. we talked about china. kayla referenced it. but in your mind, how does it change the game? >> hardly at all the fact is this is, this is

nafta with a couple marginal changes and the marginal changes were necessary to get democratic votes. and so consequent ly, the u.s. content of cars entering from mexico duty free, that goes down a bit. it's a victory for amazon. the nemesis of the president because it protects e commerce and data transfers, which was not in the original nafta because we didn't have any of them at the time but the fact is, the international trade commission has forecast that this will add $68 billion to gdp and 176,000 jobs over six years. that means the amount that it's boosting gdp is kind of a rounding error

and but that just says that nafta worked so when the president says this is the best deal in u.s. history, that's a great compliment to george herbert walker bush and bill clinton >> derek, you're nodding along with this? does the president get credit or no credit? >> i think there's something important about usm krrca i agree that it's going to have a huge affect on our committee economy, it's not. when we came in, when president trump won, a lot of people thought he's never going to negotiate a trade agreement, especially not with mexico, who he has attacked repeatedly for various reasons, but he did and it got through the congress. it's important for the u.s. to say you can negotiate with us, u you may not want to, but you can and we can finish it and remember that usmca is going to last for at least 16 years regardless of who's president in 2021 the china deal could be gone in a year

so i think the fact we were able to negotiate a deal and bring it to a conclusion is a very important political development. economically, yeah, this doesn't matter >> let me askyou this. and rob seemed to have a sort of dare i say skepticism to it. derek, this idea that this is a model in terms of how these deals get made in the future u and what this means to the future deal making of china. is it different? >> it better be different. canada and mexico are much better trade partners than china. i don't mean to say they're perfect, that we don't have problems with them, but the c chinese are predator t.o. rs in trade. we need to have a different agreement with china >> but when mnuchin says this is a model, what does it mean >> it could be a model for taiwan, for united kingdom after brexit there are countries which we have good relationships with with that we have good relationships with better not be a model for china. >> just want to pivot the

conversation for a second. you have the capitol behind you. we haven't, the word impeachment hasn't come up yet so let me raise it with you if i could investors seem to be i don't want to say taking it in stride. ignoring it completely is that the right decision >> well, i think it is for now the fact is that there's very little uncertainty associated with this impeachment. the fact of the impeachment was known. the overwhelming likelihood that he won't be convicted in the senate is known. and so the markets know what the expect they're you know, when knicnixoa impeached, the economy was in recession and that certainly didn't help him. when clinton was impeached, the economy was booming and that probably did help him. this economy is growing at a fairly modest rate

it's not a big negative. and it's not a big president oba obama positive >> to me, the issue isn't about whether he's going to be ejected from the seat in the white house. i don't think that's happening, at least that's not the prevailing wisdom this second, but the bigger issue is how this plays come next november and to the degree you think it helps his hand, hurts it, helps the republicans rngs hu, hurts the democrats, the republicans especially when it comes to the swing state, you're talking about independent voters what way do you think this cuts? >> i think it cuts very marginally against the president. the fact is the news is going to be filled with details of actions that the vast majority of the public reject and so that can't be a positive for the president. the interesting thing about the economy and the election however is that while growth is 2% or

so, it varies enormously among the states there are ten states growing less than 1% and ten growing more than 10%. among the slow growers, we have wisconsin, minnesota, michigan and georgia. that's not good news for the president, but among the fast growers, we have texas and colorado and new hampshire that is good news for the president. so so we'll have to see whether the economy remains on track rob, derek, we'll call it a jump ball for now appreciate your time and perspective. meantime, as trade tensions with china persist, it is not all bad for some u.s. companies. we have a look at the companies winning, winning, debt pispite trade war. what are they? >> so, china has become an increasingly challenging market to operate in in 2019.

rising fears of nationalism, a slowdown in the economy, yet a slight group of companies have been able to grow their sales in the mainland take nike. our research team found it's seen double digit percentage growth in sales every quarter over the last five years but it's not just nike there are many consumer facing companies from starbucks, proctor and gamble, lvmh, i'm sure you like to shop at these places marriott from the hotel side of things what these companies have in common is a laser focus on the aspirational chinese millennial that has a this affinity towards western brands when you're living in a country with $1.4 billion people, experts say the reach for status is a real thing and that's something all these companies have in common plus, they're expanding their retail footprint nike, take a look at starbucks it has about 4100 retail locations inside the mainland. it's expected to get to 6,000 by

2022 and this is not so much to generate sales but as a way to increase their brand recognition. >> thank you >> go to china now and shop and drink coffee >> i want to talk about starbucks. we don't have time to do it, but i was in shanghai it's real issue. i wonder about certain brands that represent the united states whether this is going to help or hurt long-term don't go anywhere, folks there's so much more to talk about including this >> coming up the sec wants to give more investors access to start ups before they go public. good idea or recipe for disaster plus, why netflix and disney are poised to be the big winners in the content wars and from the dumpster to your doorstep, a look at how easy it is to make cash from trash on amazon.

this is the exchange on cnbc e c. is a new kind of credit card, created by apple, so it's simple and transparent with a new level of privacy and security. it lives here and here- on your iphone, and it will save you 6% on holiday gifts at apple; like iphone, apple watch, airpods pro and so much more. ♪ apply in as little as a minute, right in the wallet app. apply in as little - [spokesman] if you've tried colleg(group cheering)shed, 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

more american access bob pisani joins us with the e details of how it will work. >> sec chair has made it clear

he's worried about the expanded role of private equity in keeping companies private for longer he's been pushinging rules this that might make it public for less regular lace and broaden the people who might have access to private equity. you must be an accredited investor to do this. you must earn over 200,000 or combined income of over 300,000 if you're married or hold at least $1 million in assets excluding your own home. the sec is interested in expanding that definition to people who may not meet the financial qualifications, but may be knowledgeable based on their businesses like hedge fund employees and holders of series 7 and other licenses the sec is not changing the rules yet. this has not happened. they're just requesting comments on the proposal. the questirequest was passed 3-2 both democrats saying they were concerned about fraud.

>> stick around. i want to get into this. bring in kenny, he's slate st e stone's wealth senior market strategist cnbc contributor, diedra kenny, i'll start with you you think this is a good idea? i have to say, i understand the other side of this which is to say there has been a number of instances where private companies have had problems i'm thinking wework. straight up. it wasn't until it became public when people realized the problems >> it's so recent and it's so raw. change the definition and then they lost. and respond how they're going to regulate themselves. they're trying to open it up at what point do you allow people, you kind of have to save them from themselves

the next hot deal. there are plenty of hot deals, so it works, but other deals it's a slippery slope. i think they have to really define it much more than they haven't even defined yet where they want to go with it. i think that's going to play a a lot into whether people support or not >> diedra, what's the view in the valley about this? >> i think people here see both sides but if you talk to vcs, they say getting in in the angel round is a really tough thing to do you have to be prepared to lose that money because for every uriber, lyft, every successful enterprise company, there are hundreds if not thousand, that have failed. but we have been seeing these companies, these unicorns, stay private for much, much longer. we're seeing most of that growth happen before the company comes to public markets, before many investors can look into them look at the ride sharing companies.

of their growth was done before they ipoed >> hey, bob as part of this plan, is there any intention to expand the kind of disclosure private companies might have to provide to these now private investors? >> yeah, i think there's going to be, the devil''s going to 's going to be many the details they're asking for information and feedback from people when they actually write the rules, i'm sure they'll try to put it in there. kenny's right. you're not using financial metrics that are clear they're saying they have to be knowledgeable and that's fuzzy the sec is worried wealth is gelting konz trayed in smaller hands. jay said that. he said we have to figure out ways to address that this is way to put it out in the public and say let's talk b about this and see what we can do >> let me turn around. the other thing that's happening is some of the big pension funds, some of the black stones tea rose and others are taking public money and investing in

private companies. that's one way to do it. again, in that instance, as a professional, agent, if you will, in between, does that make more sense >> listen, if you're part of those public pension fund, like you said, they're taking that money and putting it into these investments, but i think what this, what this article was about today was bringing it right down to the doorstep on knocking on your door and saying okay, and rua, the door is now open, go for it. i think that's where it's going to get antsy in terms of at what point you really regulate it because look, they're very ill liquid investments you're going to get picked off then the fguy's going to say, hey, somebody took advantage of me you have to look at all the arguments. >> diedra, jump in >> yeah, and importantly, too, as we talk about hedge funds and mutual funds participating in

these rounds, it's very unlikely that individual investors are going to have those tools so understand these companies or get access in the same way >> does anybody believe this 200 or $3000,000, having that only means you can't afford to lose it, but maybe you can. it doesn't mean you're any more educated than the next guy >> thank you that's right there's virtually no evidence that accredited investors are necessarily smarter or even more successful than not accredited investors. with that all said, let's not get too cynical. i think it's important to have this discussion. >> diedra, we got to go, but i imagine people in the valley would want this to happen because it means a greater in flow of cash in the same way that people might have you know, they might have been skeptical about soft banks and their vision, but they want the money. >> but it's exactly, that's exactly part of the problem. that's part of the prop problem

b? >> yeah and after soft bank and wework, there are still a ton of deals happening here there's still plenty of cash in these private markets. i don't think the need is for more >> okay. thank you all for the conversation bob pisani, ken and diedra thank you guys happy holidays if i don't see you before then. still to come, a lot more coming up on the exchange here. one man's trash is another man's treasure as the sayi ining goesd one online retail giant has gotten caught right in the middle then take a look at this mystery chart of the day the name has climbed nearly 200% over the past year still some room to run guess on twitter curious as to what you think plus what steve liesman playing the guitar has to do with the strength of the retail sector as he plays out all of that and more on the exchange when we come back ♪ this is a historic moment.

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welcome back duelling speeches on the senate floor a day after the house voted to impeach president trump. we begin with mitchnounced the . >> this particular house of representatives has let its partisan rage at this particular

president create a toxic new precedent that will echo will into the future. >> leader mcconnell is plot itig the most rushed and most unfair impeachment trial in modern history. his plan to prevent house managers from callinging witnesses to prove their case is a dramatic break from precedent. >> on a light e note, a charity raffle in paris offering a b chabs to win an original prk icasso painting. it's the 1921 piece up for grabs and currently on display at the museum in paris. 200,000 tickets are being sold for $111 each. good luck. that's the news update this hour and rue, back to you >> thank you for that. here's what else is coming up on the exchange >> ahead

the two survivors in the content wars plus, facebook tackling its first super bowl ad and retailers cashing in on christmas carols at a cinup on the exchange

the game is on we're going to catch you up on a few stories that should be on your radar it is time for rapid fire. we need music that i can goes along with it. >> rapid fire. >> here is the group with their take bill, contessa and robert frank. and we've got the topic. we're doing points again >> every time i come back, there's a different rule >> you know. >> okay, here we go. >> just figuring it out finally. >> first topic, pivotal research has been sizing up their streaming wars b and a champion has emerged. netflix. >> anticlimactic the firm hiking the price target to $425 after it broke subscriber markets in international numbers. ultimately, it will be a two way race netflix and disney, which both horses can win

so do you buy it >> is this a two horse race? >> so far. >> now i think he's saying eventually it's a two horse race and if it is, then what happens to hbo and hbo max what happens to apple, amazon prime? >> the producer of this segment today can attest that i was going to come out here and say that apple should with its cash hoard buy a movie studio "the wall street journal" announced that apple is talking to mgm >> please don't ruin james bond. well, all i can say. >> but if they have access to the whole james bond library and that becomes something that you can offer on apple plus tv, i'm there. >> and by the way, we haven't even seen the emergence yet of nbc universal's peacock. >> it's also -- >> it could with a horse and a

peacock. >> here they say amazon's on the periphery. there's a reasonable shot that at&t doesn't want to pay what it's going to cost hbo to remain competitive and this issue of how much you're willing to pay for eququality original content a big question and netflix just got there first. they said there was an unappreciated massive head start for netflix. i think we don't talk about that enough it's been in the game way long >> it's not so much is it the zero sum game. disney people canceling to go to disney i think these disney subscribers are going for free and we'll see how many stay on, but the question is how much growth will netflix have going forward and will they add as many subscribers with so many other choices. hard to see adding so many subscribers. if you have netflix, you have netflix. >> we got to go on this because i've another issue, but cover of the hollywood reporter saying apple buys netflix so if you take your "wall street

journal" story about mgm, which is sort of like a mini version of this, maybe there's more of an appetite to do this >> i don't know if they've got that much cash >> they can do this and that's like pocket lint they can do netflix and they have the money back. it's like 60 billion >> a lot to swallow. >> i think it would take them about a year >> hastings is now -- >> that's true top of two on our list facebook is going to go to the super bowl the company will air an ad during the game focusing on the company's more together campaign which is about getting users to try facebook's groups user it's going to feature chris rock and sylvester sta loan >> are you serious >> i am. >> facebook needs an ad like it needs -- >> no, it does it's got a bad public image. >> this is not going to solve a bad public image an advertisement in the super

bowl is not going to cut it. if they're worried about a crackdown regulatory potential break up, getting people not to cancel facebook because they don't like the way the company's behaving really, a super bowl ad? >> you think they're the faces of the, the faces of -- >> facebook. >> nice, smiley -- >> faces of people who are going to mick a make a lot from an ad. >> that's true, but i wonder if you were looking for spokesman people -- >> who would you choose? i mean -- who are we trying to convince that facebook is not a bad guy? that they're good people that they're there for you to bring everybody together >> do you want to seize up and make a cameo like you remember when -- bezos did. >> people are already going to make fun of this guaranteed no matter what they do tonally and in term of the add, people are going to make fun of this for days.

>> i'll tell you who you want. you want tom hanks when they needed somebody b to be mr. rodgers, got tom hanks. >> there you are >> and betty white >> tom hanks and betty white >> there's a commission there if they do it we solved it just won the whole game. the game is basically over topic three on the list. this guy's always wearing fancy watches. swiss watches hit a 35-year low. down 13% from 2018 alone the problem i'm the problem. the apple watch and other fitness trackers driving down demand especially for watches under the $200 price point >> something your wife would like to hear you say more often. i'm the problem. >> i'm the problem, but i wear the apple watch. >> that's part of the problem. one part of a two-part problem but the more important issue for swiss watch companies now are all these websites that sell you

s second hand preowned watches it's now a $16 billion market for preowned watches now three years ago -- >> used watches. >> used watch, exactly but these are rolexes. >> hair loom watches >> so what's happened is all the manufacturers three years ago said no, we're not worried about cannibalization. the it's a totally different market it's now a $16 principle market compared to about a p 3-billion market for new watches >> how much for fit bits and apple watches versus the ib you mentioned? >> i think half and half >> i'm wearing, i didn't prepare for this you know about this? this is an or ring there's text messachnology it's like a fit bit. >> or an excuse to take off my wedding ripg >> looks like you have two wedding rings. >> this tells me all the information. my temperature, my heart rate, i'm nor mefrs because we're

talking. >> how are you doing now >> i'll tell you in a second got to get my phone out. but i think people h go back to wearing these kind of watches. these fancy swiss watches then wear these or ring on top. >> no. >> that way you get to do the fashion. >> look at me. i'm wearing no watch and no fit bit and no device. no wearable and you know why because i just have to pick up my phone to see what time it is. >> you don't know what mood you're in. >> oh, i'll show you what mood i'm in >> okay. next topic >> my wife says this thing makes me more anxious b about sleep. doesn't make you sleep >> i agree >> topic four. you've been hearing it for months holiday music in every store from every radio, but you could play a factor in our holiday spending >> makes us more productive in

the news room, too and guess who's showing up here. steve liesman. >> with the numbers. cnbc, all america, survey and he's got a guitar. >> do people jepgenerally know a you profronted a really substanl band >> yeah, we're playing tomorrow night. a holiday benefit concert. >> what's beginning on here? >> so i was thinking like you were thinking. are people sick of the holiday music because i was kind of sick of it. but give me a second, guys don't prejudge me. please we went out to the field and asked in a survey. do you like the holiday music or not? 61%. no, i did not. it have not my music in general >> who has a survey that's going to admit to hating holiday music. well 8% of the public apparently does sxwl a lot more i think do >> it is fascinating more importantly for our purposes being a business news channel, look at what we found the more you like the music, the more you spend for the holiday season so 45% of those who spend under

$200,000 like a music, but 67% who spent over is $1-thourk love or like holiday music. >> this is a big no brainer to me because holiday u music while you're shopping gets you in the mood makes you feel generous. >> makes you want to leave the store as quickly as possible >> it's okay, you're part of the 8% of the grinches out there i get it >> are e we talking about mariah carey? >> women like it more than men >> yeah. >> older like it more than younger. but the northerners and southerners, democrats and republicans, about the same. >> it unites us. >> i get irritated with the repetition i was in the doctor's office and it was one where you wait like an hour to be told you're fine, which is great i was amazed and pleased by the variety. there was christmas rap and jazz and rock and country

and i was okay with that it's the repetition that gets to me >> right did you make up your own song then >> i didn't, but i can play one. >> i want to say did you hear the new taylor swift christmas song >> i did not >> you think i'm like a teen or something. >> mariah's number one for the first time in 25 years >> love that song. >> been a long time coming >> contessa, robert, by the way, you're the winner. >> little tip there for you. say it >> steve give us some music to tease us out of here. ♪ >> okay. when we come back, amazon selling nearly everyone. you don't want to miss this. the wall street investigation found it includes trash. the reporter behind the piece and the shocking details will do it all next. ♪

some of amazon's third party sellers are sorting through trash. literally. they are dumpster diving for goods. cleaning them up then listing them on the site this is from an investigation "the wall street journal" looked into how one man's trash becomes another man's treasure and finding the sales of other people's garbage is easy, lucrative and the real m that amazon has very limited control over joining us now is one of the reporters behind that very investigation. we appreciate you joining us what a crazy story how did you figure this out? >> we saw on youtube there was people amazon sellers boasting about being able to pull

unopened items out of store garbage cans and sell them as new on amazon.com. >> and let's talk about the breadth of products. >> books, electronic, toys, trinkets in our experiment, we did food and that worked out. >> so explain how you guyed did that you decided you were opening up an amazon store. >> we wanted to just test out the process and be able to see just essentially how easy it is and whether their claims were true so we went dumpster diving an retrieved those three items from the dumpster behind michael's and trader joe's and then we opened an amazon store and -- listed the items there. we had to send the items to an amazon warehouse so we packed them ourselves and sent them they were listed for a few seconds on the site and we purchased them back immediately because we didn't want anyone to end up with items from the

dumpster >> how easy was it to set up the store? could i just set up a store on a commerci break? >> i think about anyone can set up a store we just needed to have a driver's license and pay the fee. we chose the one that's $30.99 so it's pretty easy. we were never prompted for those items. never asked for the sell by dates for the food or where we got the items from >> so i assume there was a big reveal a big moment like a reality show where you had to call up amazon and say hey, guys, we just did this. what happened on the other end of the phone >> we did that last month. when i first went to them and we disclosed the existence of our store, at the time, they didn't have any explicit language in their policies prohibiting the sale of trash. just recently, actually last week, they updated their language to say they prohibit the sale of trash and they said they would increase enforcement efforts. they would do more spot checks

for documentation because we did ask them just changing the language, how they enforce this policy because some of the dumpster divers we spoke to, they go through a will the of efforts to refurbish these items and make them pass as new. shrink wrap them, do all sort of things >> let me ask you the larnler question here which is to say it's pretty clear that the way amazon's third party approach to selling works, there's not that many checks and balances and ultimately whether you think they're going to need more unless you think the consumers are going to come after them >> i mean the challenge here is that there's some confusion with customers because a lot of these items when they get the prime badge, people think it's coming from amazon because it's being shipped from an amazon warehouse and so ipg like for example in other platforms, ebay, there seems to be an understanding you're getting an item from b somebody and it might not, it won't necessarily be a

manufacturer, so i think potentially if for consumers, they have to lock at the listings very carefully and see who's selling those items. >> thank you for this. i want to tell you by the way that until i read your story, i thought the prime badge actually was exactly what you said. i thought that meant that it was either coming from amazon or effectively approved by amazon in some way that was different than the others, but this is great education. appreciate it. happy holidays to you. hopefully we won't be getting any trash on christmas >> thank you >> if you have not read it, go read the story meantime, here it is again today's mystery chart with shares climb iing more than 200% over the past year what is this and what is driving it near record highs we'll tell you the answer right tethbrk.afr e ea when i lost my sight, my biggest fear was losing my independence. mmm... good. so i've spent my life developing technology

to help the visually impaired. we are so good. we built a guide that uses ibm watson... to help the blind. it is already working in cities like tokyo. my dream is to help millions more people like me. it is already working in cities like tokyo. have you ever worked with dr. francis? oh yeah, he's ok. just ok? guess who just got reinstated! well, not officially. nervous? yeah. yeah me too. don't worry about it, we'll figure it out. i'll see ya in there! just ok is not ok. at&t has america's best network, now with our best plans, at our best prices, starting at $35 a line for 4 lines. new from at&t. apps except work.rywhere... why is that? is it because people love filling out forms? maybe they like checking with their supervisor to see how much vacation time they have.

or sending corporate their expense reports. i'll let you in on a little secret. they don't. by empowering employees to manage their own tasks, paycom frees you to focus on the business of business. ♪ music and a drumroll, please. yeah! tonight is a magical night. where anything is possible. it's party time. woo! here we go. ha, ha. now for the icing on the cake! come, we're about to begin.

welcome back i'm julie with breaking news on live nation and the department of justice a source close to the situation tells me that the department of justice and live nation will announce a settlement over the doj's investigation into live

nation and ticketmaster's practices. is source says live nation will extend the decent decree it entered into it will be extended an additional five and a half years through december 2025. it was meant to expire this coming july. with the extension live nation will drop some clarify kags confirming there will be no conditions in which live nation will threaten to retaliation against venues which don't find to ticketmaster and no fine in the low millions of dollars to cover the department of justice's attorney's costs we are reaching out to the doj and to live nation for official comment. this all according to a source close to the situation you see live nation shares jumping nearly 4%. back over to you >> thank you for that. shares of carvana soaring. that was our mystery chart up nearly 200%. phil will join us with what's

driving the nation ame and othe dealers to record highs. >> for a few years you heard people say nobody will buy cars. really take a look at the used car sales in united states they are kexpected to hit a record high. more than 40 million expected to be sold. you have the strong economy. that means more people are working. record new car prices means people are saying is there cheaper option yes, there's a cheaper option. a lot of 3-year-old models that are coming off lease when you look at three stock charts we'll show you. let's look at sonic. these guys have been off to the races up more than 120%. each of them in the last year. as you mention, carvana is a stock close to an all time high. andrew, it was a few years ago that people said you know what with ride sharing people aren't going to buy as many cars. not true when the economy is doing well, car sales go up both new and

used we're seeing that. >> okay. thank you, sir great to see you when we come back, you have to hear about this 2019 a wild ride for media between megamergers. we'll look atht is past years trends and where they are headed, next hi. this is the man that's going to check your eyes grandma. cognizant ai solutions are helping healthcare companies advance diagnostics and prevent blindness in patients with diabetes. everything looks good. you have beautiful eyes. ♪ doprevagen is the number oneild mempharmacist-recommendeding? memory support brand. you can find it in the vitamin aisle in stores everywhere. prevagen. healthier brain. better life.

welcome back to the exchange variety out with it ts top business trends that define the entertainment spate it's part of the subscription base platform or vip here to go through some of those trends with us is the co-editor in chief at variety. good afternoon to you. or good morning to you since you're on the west coast it's nice to see you i want to talk about streaming since that was the biggest trend. there's a piece of news in the past hour from the wall street apple and apple plus looking to do a deal. maybe try to acquire an mgm. i was curious what your initial reaction to that news was. >> well, i'm not surprised i think apple has come out of the gate in the streaming wars

perhaps not as hot as disney one of the things they may be looking at is instead of launching with a handful of originals as they did, it probably should have gone the more traditional ru route with m library. they have the james bond franchise and so much more makes a lot of sense it will be interesting to see if apple goads for thes for this o sports business. >> we were talking about an analyst report that said this is ultimately going to be ooonly b two horse race it's not an apple plus race, not an amazon prime race and the list goes on what do you make of that >> i think it's too early to say that clearly disney has come out of the gate firing very strong and netflix is in a good place i would look at your own parent company, nbc universal, they

have the peacock coming in the second half. they have some really good con tent in there. i don't want to give hbo max short trip it's too early >> do you want to handicap it if we had this conversation next year >> let's have it i do think netflix and disney will run one and two every one else, that remains to be seen. i like every one's chances i think we're seeing maizing levels of investment >> there's been a big bidding war for classic tv hits. the spends is, as you know, big time i'm talking about the office, $500 million for netflix friends, five years, $425 million. what show -- what other shows are out there that could get that kind of dollar? >> i don't know if we'll see anything crack this half a billion mark but when you're look at shows on the bench like

gray eets anatoanatomy, the walg dead, would not be surprised to see the shows roach that level they have remarking staying power and going back to apple, maybe you can't launch a streaming service without one of these. >> does content spending go up or down next year? everybody says at some point it will pop does it ever >> i think there will be a correction at some point it's just not going to happen soon i think we'll be locked into spending in 2020 >> dud the correction happen in streaming or in podcasts first that's the other one on the list these days that may be in bubble territory. >> great question. i do think podcasts will run strong going into 2020 we're seeing all sorts of indication that monotizing that is a little difficult. not so easy to get that into the podcast business where as i see audience going up, up, up for a while now, i'm

not as bullish on the monetiz tarks ion. >> we should have this conversation in a year and see where this is headed it's been interesting this year. i hope to see you very soon. that does it for us on the exchange "power lunch" starts right now thank you very much. welcome everybody. here is what's new at 2:00 for thursday the record rally raging on as we head into the end of year. is this market about to rocket into the roaring '20s we have those details. the ecommerce elite. one tech giant is about the stage an online shopping coup and he will join us. later, running from ipos a fund manager for the ultra wealthy tells his clients to steer clear. we'll be here to explain why as power lunch begins right now