this market basically thinking all news is good news, as we sit at or near record highs on all three markets. >> i do want to point out shares of signet that owns the mall jewelry stores, has thanks for watching "closing bell" starts right now. welcome to "closing bell", everyone good afternoon i'm wilfred frost. i'm at the morgan stanley post, that stock soaring, mellon with weak earnings, that is down 8% we'll dive into both, and the broader markets, we'll set for three record all-time highs. hello, everybody i'm contessa brewer in for sara eisen today. new record highs as wilf mentioned on the dow we're watching for them as the

s&p breaching 3300 trump says the united states is in a great position for phase 2 trade talks with china retail sales rise in december, capping off a strong year for the u.s. consumer. joining us is anastacia am rosa great to see you today, so the second point is -- so that's what's lifting the market. as you we were talking about before the show, there's quite a few notes and and that is as

likely to improve the business sentiment. the fact we're still willing to engage with china despite, you know, the different agenda we may have on the tech space, i think that's actually quite positive >> thank you for being here anastacia. will -- mike santoli has market dashboard. david faber is covering up unveiling of nbc universal's streaming service, peacock morgan stanley soars, a very strong q4, let to about a 2% pop in the shares, but the new guidance they issued on the earnings call and the targets around that really drove shares higher q4 revenue what 10.9 billion eps was 1.30 per share it was a broadly strong quarter

in all segments, particular standouts with strong folksed-income trading, an4 billion, about 600 million ahead of expectations. the new 2021 guide is 13% long-term guide is 15% to 17%. in wealth management, it -- they had a 27% margin in q4 the new target margin is 28 to 30% and over 30% long term the ceo optimistic about growing wealth and investment management on the call. >> we highlight the growth in long-terms net growth which

reflect strong long-term performance. with combined revenues of approximately 21 million wealth and management businesses are among the largest platforms in the world so this move puts morgan stanley ahead of goldman sachs in terms of 2020 year-to-date share price perform uses well ahead of the rest of the pack wells fargo is at the bottom of the pile, sharply after their earnings report. what's your take, an stationia, in terms of if you want exposure to the bank, and which investment versus retail banks do you want you have to exposure to >> i think banks are at the top of the list we're expecting higher treasury bills as well, and also if you think about

inflation, it's not much of a concern now, but i suspect through the course of the year inflation itself will start to pick up. banks typically give you one of the better hedges against rising inflation, and back to the business, this is an economy that's doing pretty well commercialsh and we also expect the consumer to do pretty well as witnessed by the housing data as well. >> great, all right. the chip sector is digging -- digging into that space. dierdre? >> the report last night, the chip maker, and it's betting big on 5g demand by raising the -- and building on nearly 60% gains in 2019. this is also broader it's the 4r5ider sign that 5g could propel a pickup after a weak 2019 in terms of demand

tsmc's report being viewed positi positive on the streets. we also want to mention western digital popped nearly 3% on a deutsche bank report raising the price target to $8 on from $65 the broader etf estimates that more than a person up on the session as more shops get bellish. back to you. >> thank you for that. i like the chips, too, i find them compelling? >> i think it's a good time to be talking about the chips we recently upgraded the number of 5g smartphones we expect to be shipped, but these companies are positively preannouncing

the consumer electronics show a week or two ago unveiled a lot of the growth from 5g to a.i. to electric vehicles, so a lot to be excited about there we are at session highs, we should mention, six minutes into the show about 0.7% let's get over to mike for today's dashboard. >> we are observing this parade of riching going down wall street right now obviously it's been a relentless -- orderly, it seems almost automatic on some days, but it's beinging more inclusive or showing signs of doing so this is a three-yard charlotte against the russell 2000 you can see that it still has a lot of room to make up, if it's going to do so this is the high all time for the russell 200. it remains a percentage below that from the latter half of 2018 it certainly shows you it's

becoming a more generous type of market here is a different way of looking at it. it's the equal weighted s&p, as -- so when this line is going up, the equal weighted version of the average stock is outperforming the s&p. that was the early part of the last decade you could say, and now we have unwound all these gains, and you're right back to essential parity from where we were a couple years ago. the rsp is outperforming today, but also over very long stretches of time the equality weighted version has outperformed at some point this may go into reversion. a lot of attention on the fact that over 17% of the s&p is in about five stocks, so maybe we're approaches some kind of upper limits. to the peacock streaming

service. here's a reminder, comcast is the parent company of cnbc you're sitting there, david, what are the key crucial drivers? >> well, you know, 4:00, contesta, we're going to get more details on a service that would be rolled out. certainly price will be important. ist going to say ad-supported, but a tier in which you do not necessarily have to have ads the questions will be what will be the prices for either service, as well as subscience targets? will they offer any in terms of how subscribers they'd like to sign up. the company says they're going to spend $2 billion in the next few years. break even over five years, but there's a hope as well for more details around the financials. not as an important effort certainly as the central effort was for that company or even hbo max, but seismt not --

>> david, giving the nature over comcast, slightly more on the utility perspective, do you think the overall low amount of spend, $2 billion will be something that's welcomed by analysts and the type of shareholders that already own comcast stocks >> i think they would be, wilf, they would be more concerned if the numbers got higher it's almost as if you were spending 2 billion on an acquisition, a company that wasn't going to be profitable. it's going to be more than that over time, as we know. it's only 1% or so on revenues as the cfo pointed out that we got on financial implications of the service about a month or so ago. so, yeah, it's still being watched closely, though.

remember, you know, it doesn't mean that over time the strategy can't necessarily adapt as comcast and nbc universal see how the new universe continuing to change, how many cord cutters there are. how much that accelerates or doesn't, what streaming looks like in a year or two or more. it gives them the platform, wilf, at this point, one they are spending money on, and the ability to adapt over time if and when things, as they probably will, changes >> well, you know, the interesting thing is here we are on a cable network owned by comcast. there has to be a lot of strategy into how do you keep your streaming service from cannibalizing the part of cable. you mentioned comcast is a big capable provider how do they do that? how do they partition it on which and say this is a value add? >> they start by making it free

to whoever it a comcast subscribers are so 23% of homes that have capable? immediately almost a quarter of the cable universe will have the product at no charge sos that one key way you do it obviously in the homes you're not bringing comcast into it, it becomes an option. >> i wonder whether you have any idea about this already, or practice also will learn about it in the next couple hours, but to what extent the acquisition of sky has lent them to this type of streaming service or whether buying sky pushed them that way the sky service has been around for a while, the technology is very successful, and the strategy is kind of similar. i wonder whether the acquisition led to this kind of move by nbc? >> that's an interesting question

i don't know the answer, except i do think i recall have been conversations about peacock prior to the purchase of sky, and the idea being it would differentiate itself as an ad-supported product potentially. that was some time ago before we saw disney plus or hbo max as youappoint out sky is an important part acquisition leverage ratios starting to come down overall, but one that precludes comcast, which has been built by acquisition, making another large deal anytime soon. >> david, great stuff. we look forward to your reports after the presentation, and tomorrow david faber for us as 40 rock. when we come back, shares of signet jeweler skyrocketing today. we'll speak to the company's ceo exclusively right here after

this short break. later we'll discuss the unveiling of nbc universal's peacock service. netflix's cofounder joins us at post 9 retail sales climbing 0.3%, matching estimates the nrf says holiday sales were up 4.1% versus 2018. "closing bell" wl rht ba ckilbeig make fitness routine with pure protein. high protein. low sugar. tastes great! high protein. low sugar. so good! high protein. low sugar. mmmm, birthday cake! pure protein. the best combination for every fitness routine.

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signet jewelers shining today. same-store sales group 1.6%. the signet stock is down 75% in the last five years. joining us exclusively is the ceo. great day for you guys. >> thank you

i kind of want to talk more at the scene. you set out a three-year turnaround plan. what has been achieved, what's still to cub >> we're just at the end of year two of the plan, called path to brilliance year one was more bon things that were broken, year two getting -- and then the next year looking to bring more transformational innovation into the category. >> every day in year three is a 40% price move or what drove this move particularly what went right in the holiday season >> first of all, a huge thanks to our team. everyone in the country worked incredibly hall. despite mall traffic down, we saw traffics up driven about conversion, so i get a lot of credit to our great merchants who got great product and

consultants who brought it home for customers. the omnichannel experience is getting better as well it sounds like what you have found what a lot of pyre are finding, that the maul is a bust but your digital platform has become an incredible focus what we know about customer says 75% of the time they go online first. but then they go in store. more than 0% of the time they actually finalize their sale in store.

really terrific while that's really important, we think brick-and-mortar is an important part as well >> you know, you mentioned the transformation that you're trying to push, what's a flair of some of the area areas? >> this omnichannel experience is important how we meet customers where they are. we had much more targeted targeting, more educational that really brought people to our web sites. once they get there the experience they have is not as integrated as i would like it to be i want in preparation there's this that mill len uses is not

necessarily interested in jewelry. i was interested in the idea presumably young people never really are interested in jewelry. it's only something as people get older that they get interested in it this gets more -- we think there are some myths and reality they're for sure as likely as their parents to mem raid their engagement with a diamond ring they're getting engaged three years later on the average, but there's other milestones to celebrate. and we also know we're much more casual as a society. i think we need to design differently. jewelry is still four times more memorable than any other gift. so i think it has its place in

the millennial generation as well. >> does it meet cheaper products -- different raw materials and commodity, not gold, but silver, not diamonds, but something else >> well, it can be we're doing well with diamond jewelry, so i think it's more of a mix. they're using jewelry increasingly as a fashion trend it's because they're seeing it as more of an accessory. >> i want to wrap around to this path to brilliant. you have an ambitious cost savings plan, over three years and you're taking what you're saving in costs, and put it towards drivers of growth. what do you see as drivers of growth we are transforming some of our

skill sets 2% of americans will get engaged in the next year we want to be in theirha you veh here we go, we have about 37 minutes before the bell. the dow still in record territory. we're up 7.3%. s&p 500 we're looking at a record here. the nasdaq compose up up bankle america says bet on the defense sector during an election year. they just named their top pick in face for 2020. we're counting down to csk earnings after the call. we're back in a couple minutes

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welcome back here a check on the dow. we are up session highs with just 34 minutes left three record closes expected with a major averages, 34 minutes, time to get word on the street bank of america says the presidential election --the firm naming raytheon its top pick for 2020. we also know that the pending merger between united technologies will create a large

capital alternative to boeing. the stock is up 0.9% morgan stanley raising its price tart from 2,100. the larger share games and steven downgrading tyson food to equal weight it says while it's positive for demand, domestic production remains heavy, to raise peak pricing. you try saying that five times fast stephens also believe it will need export demand to balance the u.s. market. we know there's a commitment from the china toes to make more agricultural purchases >> i think the deal could be a significant sector i mean, looking through the details, the agricultural

commitments, whether we get there are on or no, they're cal for doubling the imports even if we come close to the number, i would expect that filters into some of those producers. also i would point to the energy space, the fact we have 52 billion in purchase commitments. that's one space that i think we can deliver. china is growing demand, and u.s. is one of the top places. >> in terms of the call on raytheon, i get how there could be a call for eye defense spending, but i would think the market has already priced into that >> i think you're spot on. the market has priced it in. if you look at the valuations, they're in like with the market maybe a bit higher we also know the spending budget growth has been ramping up in the several year price to this

it will be more in the 2% -- so i think a lot of that is priced in, but having said that, you look at the stocks, the actual revenues from higher budgets approved before, they will actually show up in the top line in 2020, in 2021 they're not exceptionally cheap, but i think there's opportunities. the border market up the s&p now breaches 33 hundreds president trump says a strong year has capped off for the consumer. time now for an update with sue herera hello, sue. hello. the senate passed the united states mexico/canada trade

agreement. it now heads to president trump's desk for his signature the deal now only needs canada's approval to take effect. u.s. health officials recording three more deaths tied to vaping, taking the death toll to 16. after of jan wear 14th, the cdc records 62 new cases associated with the use of e-cigarettes or vaping products. the new orleans police department has issued an arrest warrant for odell beckham jr according to witnesses the contact with the police officer was in the locker room in lsu beat clemson. and sam's club has or i don't popcorn, right in time no national popcorn day on sundays. it's drizzled with the cream

from the middle of the oreo, and covered with -- i don't know. >> sweet and salty makes this -- is the way forward. >> do you like caramel corn. >> i like the butter-kissed kettle corn, whereas if it's a well-made sweet and salt one, go all day. >> i do love an oreo >> we'll get a bag and try it out. >> a taste test, that sounds like a good idea, and we get ice cream later in the show as well. it's just getting better and better. >> we're up here, we don't get the ice cream. >> i'll bet there will be some, it's about 4:30, sue, so join us. >> all right i would love to. see you then. i'm being told we have to move on. we have 28 minutes after the session at the moment.

the dow is up 218 points. and anastacia has a way to play the face one trade deal. after the break, mike santoli takes a look at the holiday sales numb bers, and the retail name leading the charge check on bonds treasury yeels getting a boost today after drove. the ten-year lead is bacabe 1.8% "closing bell" is back after this do you have concerns about mild memory loss related to aging? prevagen is the number one pharmacist-recommended memory support brand. you can find it in the vitamin aisle in stores everywhere. prevagen. healthier brain. better life.

welcome back mike has the second ink statement of today's market dashboard. >> you were talking earlier about the pretty strong sales report, we also got new that the percentage of online sales as a portion of the total has also soared to a new high the market is acting like we're going to be a nation of shopkeepers. sh shopify, we're talking about a

50 million market cap, the way to set up a digital online it's about conaccepted and growth this is compared to amazon bright and early 2019, as amazon started this long period these are actually pretty good this is the average retail stock. it's an equal-weighted sector index. however, outperforming, and i wonder if you're getting a hint with the likes of gap, l brands, they're all about 20% or so off the lows, so we'll see if the dynamic starts to shift. pivoting a bit, amazon itself, how has it been of late? >> actually it's been a pretty consistent story it's not outright down, not

outright under pressure, but relative to what's happening in the traditional nasdaq 100, it has not been setting the pace right now. it's roughly january 2018 is when it hit a wall they're at a point in their growth they're just not getting incremental tom line >> mike, thanks so much for that we have 23 minutes after the session highs, up 235 points on the dow, about 0.8%. we are set for three report closes we have your last-chance trade, next. plus earnings from csx the key thing to watch, coming up ♪

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that's what happens in golf nothiand in life.ily. i'm very fortunate i can lean on people, and that for me is what teamwork is all about. you can't do everything yourself. you need someone to guide you and help you make those tough decisions, that's morgan stanley. they're industry leaders, but the most important thing is they want to do it the right way. i'm really excited to be part of the morgan stanley team. i'm justin rose. we are morgan stanley. is welcome back 19 1/2 minutes left in the session as the big board martial

averaging up 0.9% for the nasdaq and set for the record closing highs. the best performing sector is tech, and below the major averages, some of the best performing tech companies. all sectors, though are positive. >> 19 minutes left to go an stationia, what is yugs lauer trade? >> i think you look to china tech they have trailed since july of 2018 when the trade tensions broke out. now as trade tensions abate, you look to the places that were hit the most, that was china tech, so it stands to reason it may rally the most china tech is trading a the a bit of historical discount, so

it's very attract effortly positioned the catalyst is we are going to roll back a bit of tariffs that is going to benefit some tech, some textile, some industrials, but just keep it simple and broadly looking. >> but the b buy daidu, they wi a footprint here really. they were never really hit by the tariffs. >> some of the companies were hit, supplying phone parts, for example, but some of the biggest ones were not. however, they were still hit by the fact there's a uncertainties that there was a lack of confidence also the domestic slowdown in china, but you couple the phase one deal with the fact there's a lot of stimulus into the

economy. we're not calling for a return to 6.5 numbers, but if we can pick it up 1% over the next couple quarters that could affect some of the largest companies. we have 17 minutes after the session. we're at session highs, next we bring you uninterrupted coverage of the final minutes as we hit the breaks, here's a check on the major averages. he can always watch us live on the go on the "closing bell" app. closing bell in a few minutes. especially by something like your cloud. it's a problem. but the ibm cloud is different. it's open and flexible enough to manage all your apps and data securely, anywhere, across all your clouds. so it can help take on anything from rebooking flights on the fly,

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14 minutes left in the trading day. we're now in the "closing bell" market zone, commercial-free coverage going into the close. >> today we have anastacia amarosa with us as well today. the averages are on pace for record closes. nasdaq, which didn't have a record close yesterday will have one today. mike, what is the sentiment today that we didn't have yesterday? >> there's not much. i think the sent machinement was yesterday was no harm done, even when some of the leading stocks took a break

you had a benign rotation just decent enough economic news to recharge things. we're in a mode where it's a virtual circle corporate credit markets are very strong, the standard wall street s&p 500 target is still just a few percent up from here. everyone seemed to come into the year now it's about whether we finally stretched this maybe by the end of this week. >> that's an interesting important point, but i would say the catalysts are in place, whether it's some uncertainly around the china trade, below clearly reflecting better data, but i think you make a good point. you are starting to see the positioning starting to rise look at valuations we're getting close, the more that goes on, the more vigilant we should become it's not to say we're out of stink here

the market up side is done, but i think it's becoming more limited ar more susceptible than in the past. there's news of a possible spin-off frank holland has that store hey there, shares rising 14% after announcing it's explore a sale or spin-off with the goal of mac mizing shareholder. it's the shipping of large appliances or equipment. the company set there's no timetable and a sale or spinover is not definite any. turning to rails a decline in q4 earnings in the pry they're quarters, two thirds of the value and revenue came from shipping coal and containers ceo commentary was also of interest last year he called the freight environment puzzle, due in large

part to the trade war. >> why no? why spin it off or sell it off >> acquiring companies that build the xpo we know now, but the ceo said this is about maximizing shareholder value maybe he has an argument i think the market has to decide it looks like they're in favor right now. >> thank you, frank. appreciate that. mike, what are we looking for for csx? >> it's the kind of thing where if you want to see the domestic reacceleration story get some strength, and you said to hear the commentary, so i think it's all about what they can tell us or what is coming in the next couple quarters. >> the transport will be very important. i wouldn't view rails and the trucking business as definitely a beneficiary of the rollback of

some of the tariffs and the purchase commitments i would expect to see the carloads improve, and that's likely the case, but i want to start pre-positioning for that now. another quick comment on the types of businesses like xpo, i think there's a lot to like in those businesses the reverse logistics, the reverse merchandising, outsource of of logistics, and the packing and the shipment i think there should be some interested buyers in parts of that company. we have just under nine minutes of that session. morgan stanley cutting its rating on tesla after a big run year to date phil has the details. >> wilf, this is the reason why shares moved lower today widely respected and believedb many to be the best analyst on the street when it comes to tesla. but one of the most widely respected, he put an underweight rating on shares of tesla.

this is basically a valuation call, he said, look, the price target moves from 250 to 360, but he believes a lot of investors in this run-up, they were just out over their skis. taos la was due for a pullback also there's a report at california vehicle registrations. tesla's california registrations feld by 46% in the fourth quarter. keep in mind you had the expertation of some incentives for electric vehicle credits those are expiring the federal ones are essential going away what you have with tesla here is a company that, remember, wilf, it delivers all of its vehicles for the most part out of the plant in fremont, california it's always had lumpy deliveries by states and regions. some quarters get more than others i wouldn't read too much into that report. don't forget, we probably will

get their guidance sometime in early february when they report earnings. phil lebeau, thank you very much >> honestly the big mental is the stock is down 1% when the supposed ax on the name downgrades it. that just shows you the fever has not broken yet on this move. it looked like it will be a bigger loss. we'll see how long it lasts, though >> the national retail federation is out with holiday retail sales data. courtney reagan has the details. >> it was a strong holiday sales grew 4.1% to 730.2 billion or about $29 billion more than last year.

slightly above the initial estimate but not everyone -- morgan stayly lower the fourth quarter estimate for walmart's comparable sales to 2.5% growth after target disappoints with the holiday results and noted weakness in electronics, toys and home the data says sales grew -- so there is growth there, but we probably won't get the full result s back over to you. courtney, thank you for that on the retail front, it really is a mixed bag when they report the holiday sales. >> there's so much divergence between the he different players you have to get you have to have the checkout process work very effectively.

>> and say looking backwards, it's as positive as it's ever been there's absolutely no concerns about credit quality it's still growth, but not quite as good as it was. >> i mean, even we were talking about an unstoppable consumer we had, it was mostly steady, consistent spending, and i think that that also goes for demand for new credit one sector quietly making you highs for the first time are the utilities. next era and endergy are the top performers for the month

now as a major indices trade, worth noting the uniform performance in the materials it's also one of the two sectors in negative territory so far among the l-- mike, you have to commend utilities today. today yields are back up and still in the middle of the pack. >> yeah, this market is not punishing will have anything, but yields are at a low enough level where utilities can work i don't know if i read into it on a relative basis, they have not really pulled out of their pullback from late last year >> i think the utilities have rallied, because yields have been range bound here.

mike, let's have a look at the market i6r789s they've been pretty strong, look at the up versus down volumes. it's lopsided in a positive direction. also new highs versus new lows, this is almost a shutout i think there were zero stocks in the s&p you have 300 to 14 people are clearly kind of pressing the up side right now then i wanted to look at momentum verse value look at that over six months it's been a give-and-take race now they are virtually equal >> mike, we are at session highs as we approach the close the vix was actually below 12. >> it's been hanging in there, to be honest, i think given how the market has been, it could be

lower, wee is it not? also in record close territory. rick has a check on bonds. rick >> sdhur we're up several basis points, but up from six-week lows coil around 180, finally one week of the dallas index bertha, today's low is above yesterday's high

we're seeing a bunch of services today, but it's only about 6.5% we see a lot more percentage-wise. among them the chips today, amd, lam researchal all-time highs. and i am watching alphabet i've got my glasses on right now they are herman cain's favorite number. knocking on 1 trillion over to you. >> another big name. nearly 20% of the s&p at new highs. that's a very rare occurrence. financial been have choppy this

week, has a new high for that. builders are outperforming we have new highs on lennar. and fin tech kills it. there's the closing bell we had a real rally going into the close. well come. >> let's check in on whether the market closed at three record highs, strong gains that continued up to the close.

it was led by technology energy was at the bottom alphabet did in fact cross into the $1 trillion territory right when we closed congrats to that record close for the three major averages. joining us is matthew income strat 'tis, and still with us anastacia ohm amaroso we've had some good news, some positive earnings, but not without a blip here and there. >> good enough news to have a market that seems to process new information as an excuse to carry higher it's this cycle spiraling higher somehow investors seem to have come into a year after this, up

29% feeling under-invested now all of a sudden prices are getting away from people so if you called it a melt-up, you were wrong, but it's becoming something like that right now. >> speaking of underinvested, it's easy to explain right now, the same momentum change we've had for several years. stocks are doing well, which i think will continue, but investors, we know, are invest they're. so i think those are the catch-up trades to be had. that doesn't mean you were walk away, but i would use it as an opportunity to add to it matthew, where do you see it decrease from there? >> on the bond side we had a great year in 2019

and we have trouble seeing the same type of return and fixed income in 2020 that we saw in 2019 we got almost 15% return on grade -- almost 15% on high yield. it's almost mathematically impossible to be the same sort of returns this year as last year, so i think it's a low to mid single-digit returns >> mike, in terms of why -- month to date, 3% of the gains already for the nasdaq so off to the races. >> there's no doubt there's challenges, though if you cut to the change and said we have evidence today that housing remains in good shape, and financialing are very well

capitalized, it's pretty tough to pick apart that story this bull market has kind of made its progress in streaks and chunks, and then gone to sleep for a while. we're in the middle of one of those big advances that will pile up the gains. i don't think that's something we can forget about. you know, so -- although balances are fine, we're expecting a bit of a circle, i think they could be in deficit 1/2 torrie are just a bit below the average. so getting long oil, getting long energy could actually be a geopolitical hedge for the portfolio. we have a news alert on peacock. julia boorstin has the details. >> comcast investor presentation

kicking off right now. >> there would be a max matchup of five minutes per add. peacock premium could included 15,000 hours of content with some ads it costs $5, but will be free to 24 million comcast and customers. those cable customers can -- without that -- now peacock will be available on april 15th it

will le we'll have more on the new original and licensed content that will be excluded in peacock. >> guys, back over to you. >> well, so they will be includes live coverage of the olympics a it's very unusual to do live,

and that's something that i see distinguished. >> reporter: they're going to have licensed shows from outside the universal university so "two and a half men" and more originals. they announced a deal with kevin hart, and also a series produced by tina fey. the industry watchers that you're talking to, is there any skepticism about the timing of

this coming on the heels of so many watching this >> it is coming after the launch of disney plus, as well as apple tv plus, but the april 15th launch, that's hail, it's launching in may this is a different kind of service. and bundling service in for free i think the combination of adding, hopefully will make it different enough to make it different from what's

already been out there coming up, we'll also talk with netflix cofounder marc randolph about what it's like to launch a new service like this of course, comcast is parent company of nbc >> shares falling almost a% right now. in lines with estimates, eps that was three cents above estimates. citing headwince in the coal market coal is about 17% of csx's revenues the company is considered a leader in the precision scheduled railroading. that metric reached a new record, but that was still higher than what the street expecting, the street expecting efficiency metrics to be even

lower. csx falling more than a% after reporting earnings. >> thanks so much for that, frank. nothing too major in this. one of big promises to the coal workers was to bring back jobs, and ougautomation has cut into that anastacia thank you, matthew, thank you for your

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that's 866-296-7451, or tdameritrade.com/learn. ♪ non-gmo, made with naturally sundown vitamins are all sourced colors and flavors and are gluten & dairy free. they're all clean. all the time. even if sometimes we're not. sundown vitamins. all clean. all the time. welcome back microsoft hitting an all-time high today in just the past year the company has added almost half a trillion in market cap it's come on the back of a number of large strategic stages we have another one today as the

company says it plans to go carbon negative by to 30 i think what happens is creating a lot of profit, creating more problems for a planet of people, i think it will catch up with you in sense, the way i look at it, i say, hey, go after the core of what we're doing our shareholders are the ones who give us permission on whether to think about it, whether it's the affordable housing it's our shareholders who care as much about this as anyone else imts jim joins us from re monday, washington epic that you could sit down, but this particular announcement from a forward-thinking tech

company, it's not necessarily the sector that you would expect to say they need to go carbon neutral. talk about how significant it is. >> you're totally right. this is not chevron. it is a company that has three keep first how much they use in carbon second, by the way, is how much the suppliers use. third is how much the users use. let's touch number two these data centers use a lot of electricity, probably the biggest source of new electricity. if you're a utilities company you don't want his business unless you get, you want to try to get a lot of solar and wind he changes the grid. second, he cares about impact per share, not just earnings per share. he has the lux why ary of doing that ed second largest company on

it's >> tell us specifically when the targets are rolled out, and how it relates to others amazon has made some pledges, but i think microsoft has gone a lot further, haven't they? >> oh, yeah, carbon negative by 2030 what they really want to do, as time goes on they're trying to not just erase their footprint or make it smaller, but to actually reverse, and i think this is 30r9, wilf, a lot of companies are happy with happy doing what i call green washing how about wiping the carbon that you used since the company was founded? that's what they're talking about doing here i think it's revolutionary i think he's a leader, and i think you'll see a lot of companies follow, whether they like it or not. >> he's certainly a leader and created an extraordinary amount of value at microsoft. i'm sure you have spoken to him looking backwards, his leadership, how he's achieved it i can't wait to watch it, but

how is that part of it a lot of what we talked about is how did he come up with azure. they talked about how the customers wanted it, but even six years ago it was not that point. azure is driving the value a cloud-based company that has walmart, walgreens, star becomes these guys are taking -- i'm wondering whether amazon stock hasn't move the way we thought because of how powerful azure is >> i'm just curious, how does the move on going carbon negative fit into the overall growth plans where is the financial return on the investment come? >> so, amy, who is a penny-pinching, some would say tough cfo, is saying it's too

risky not to do this that they literally won't be able to get the pick of the litter if they don't do this it's -- and then also, i think that they feel like this is good for business if you don't do it, it's bad for business make the priced earnings multiple could go south. they were saying off-line, the multiples of companies who don't do it right -- and this is in snnc what larry fimpg talked about -- how did they not afford to do this i think this is going to be the new norm >> yeah, there is a lot of -- you mentioned amazon, you've got goldman sachs. delta, jetblue, the casino companies that i cover all have

environmental initiatives. i can't way to see this interview. thank you for joining us. >> two-part interview. >> oh, good. okay we can't be content with one tonight, 6:00 p.m. eastern only on "mad money" up next we will break down the charts. and marc randolph will weigh in on the prospects for peacock as comcast enters the streaming wars a reminder, you can always watch you live on the cnbc go app. we're back in a couple minutes

. we have breaking news on gap. hey, court. >> there's a lot of information here, but i think the biggest headline is gap inc. will no longer spin out old navy that was previously planned. shares higher by about 9%. a newspaper better of leadership change that i'll get to in a succeed. we just have this fine quarter left here. remember we are still without a named ceo of they're still looking for that permanent

replacement. however, mark breitbart, the ceo and president of currently some of the divisions will now by leading basically a group of the divisions altogether that's gap, banana remust be, ebe, athletica and the ceo running old navy will remain running that no longer spins out old navy they say the cost and complexity, combined with the softer business performance limits the ability to create an appropriate value from a separation, which is a change from when they announced the ceo was leaving. shares are higher by almost 11% now for gap after hours. >> courtney, thank you for that. let's get over to mike santoli.

mike, what do you have for us? >> it's been a matter of belief that things are getting better and the financial markets remain well insulated from shocks, and also keeping things very, very calm "wall street journal" ran this this morning, talking about the unusual length of time we've been out a 1% daily move it has been an unmoply palace i time right now since about mid-october. these are the longest such stretches over the last several decades. this isn't just recent vintage this was the one that ended in 2018, in january that was right before a major sell-off this one here in the fall of 2018, that also segued into a pretty good shock, but the other ones have not been as a rule the case 1995 was one of the strongest years ever in the market, and it

gave way to another strong year in 196 so there's no way to infer this means we're headed for something bad. you till have 25, 30 days more before this even gets to the longest ever take a look at the are at an indicator. it really does bathe the entire system in liquidity in a sense that cash flows will be there. this is the yield, not the spread triple b is -- you're talking about just over 3% as a yield. it's a cycle low as long as that's the case, it's difficult to say that the stock market could run into serious trouble in the short term. >> in fact when we get one it could be a multi-up. >> i would say that would be unusual and i would think that's not the more bullish option. the better op is a quick 1% down day, and people say no, it over?

>> we weren't far from that, but up obviously. still ahead morgan stanley shares soaring we'll ask a wall street bull on whether the stock can keep rallies. >> nancy pelosi's flamsing facebook's business mod and for schmoozing the trump administration here's another check on alphabet's market cap closing above 1 trillion for the first time we'll be right back. imagine traveling hassle-free with your golf clubs. now you can, with shipsticks.com! no more lugging your clubs through the airport or risk having your clubs lost or damaged by the airlines. sending your own clubs ahead with shipsticks.com makes it fast & easy to get to your golf destination. with just a few clicks or a phone call, we'll pick up and deliver your clubs on-time, guaranteed, for as low as $39.99. shipsticks.com saves you time and money. make it simple. make it ship sticks.

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let's get a news update with sue. >> hello, everyone here's what's happening at this hour supreme court justice john roberts was sworn in to preside over the impeachment trial of president trump. senator chuck grassley administration the oath, roberts then swore in. 99 senators with an oat to, quote, ensure partial justice as the jurors in that trial seven accident people protesting against president trump. a giant banner saying "remove trump quugs was unfurled tess russell senate office building. china successfully placesling a new communication satellite in orbit it was the first private 5g broadband satellite, boosted into space by a solid-fueled

rocket, developed and also built in china. a charitable group visited by meghan markle posted a forecast the photo showed her meeting with members of that group you are up to date that's the news update this hour will, consays that, back downtown to you. >> very nice to see her smiling as well, sue. >> yes, it was sue, thank you it's been a big week for the bank's heavy hitters all beating on eps and revenue while wells fargo missed morgan stanley rain showered before the bell, saw profits surge, the stock ending the day up more than 6%. for more let's bring in an analyst at ubs good to see you, brandon thanks for joining us. >> thanks for having me. let's start with morgan stanley how gressed were you

with this marges that led to today? >> i think that's exactly it the new targets were everything. the earnings in the fourth quarter was fine one these unveiled the earnings targets, that's when the stock took off when you think about it, in 2019 they generated about a 13% return now the new ranges 13 to 15 earnings estimates just needs to move up, and it's not crazy that earnings estimates would move up to the rough magnitude to what they did today >> earnings estimate, is it only deto go up for the likes of goldman and morgan stanley, the investment banks, if you sort of stripped jpmorgan out? a lot of it slightly disappointed, and took the wind out of the sails,y goldman and morgan stanley clearly leading the charge. >> and those were names that

came in at a discounted valuation. when we look at the valuation across those big investment banks, right jpmorgans, citis, goldman, goldman and morgan stanley are still only about ten times earnings the other names are -- jpmorgan is at over 13 times earnings if you think about where you're going, if you want a catch-up trade that still has juice, still at low valuations, morgan stanley is a great choice. from my perspective i procedure that over goldman, but as far as goldman, at the end of the month they have their first-ever investor day that's generaten a loss of buzz. i think when morgan stanley came out today, this was their hans -- hay, look, we've already transformed our business you want a story that doesn't have execution risks, a story that's already changed their

busine business. >> what is your view on wells fargo long term? >> they have a whole mess of issues that they have to dean with personally that's covered by a colleague of mine. i cover the investment banks, but they certainly have a tough road to hoe, as far as getting on the right foot. they brought in joey scharff he certainly has a great deal of experience in customer services. it will take some time >> brennan, thanks for joining us good to see you. >> thank so much. grubhub claiming miss -- customers for the --

. business is booming, the trend to profitability is

becoming a bit bumpier frank holland has the story. >> a lot of challenges, also a lot of opportunities, predicted to grow into a $467 billion business today we get a look from second measure how the top players finished door dash growing by 140%, just bassing grubhub that held 43% of the market back in 2018. doordash's rise is in part to promiscuous users. and more than a quarter of ubereats customers did the same. the growth of spending on those orders has declined steadily aggregators like food boss think expedia for deliveria could have a big impact on that

another key factor will be pizza penetration. 57% of delivery orders, they are still pizza, and they do it the old-fashioned way over the phone, for the most part. >> that's an amazing statistic, and 57% is still pisa. >> it travels well, it's hard to get it wrong just in general, as people here in the u.s., maybe even in the uk, we like pizza. >> i get that. >> you don't have these apps flowing through certain smaller towns across america, which probably influences that. >> yeah. >> i wonder what pizza penetration in manhattan would be >> i'm not sure. that might be a indicakate roge question or after a show do a survey. we can't tackle this. >> i'm going to the pub instead. frank, thank you. up next, taking the wraps off the streaming service

peacock. we'll hear from marc randolph and get his take on the streaming wars "closing bell" is back in a couple minutes sometimes, the pressures of today's world can make it tough to take care of yourself. but nature's bounty has innovative ways to help you maintain balance and help keep you active and well-rested. because hey, tomorrow's coming up fast. nature's bounty. because you're better off healthy. woi felt completely helpless.hed online. nature's bounty. my entire career and business were in jeopardy. i called reputation defender. vo: take control of your online reputation.

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on a flexible wealth plan. and with new brokerage accounts, your cash is automatically invested at a rate that's at least 20 times more than other advisory firms. personalized advice. unmatched value. at fidelity, you can have both. we're getting fresh details on nbc's new streaming service, peacock. julia has the details. >> nbc universal's chairman kicked off the streaming service. >> we think there's a clear opportunity to create a

streaming platform that we own and operate. that give people what they want when they want it, but allow us to monetize. we also think we're uniquely positioned to take advantage of this opportunity and play a leadership role in the on-demand streaming world. >> tina faye also introduced the sizzle reel of the 15,000 hours of shows that would be included, 7500 hours in peacock free the company say the service already has been hundreds of million in initial advertising contessa, back over to you >> thank you for that. sticking with streaming, morgan stanley reiterating the overweight perspective >> as a new phase begins, can netflix continue to hold the top spot marc randolph, cofounder and

founding ceo of netflix, also, that will never work, the birth of netflix marc great to see you again. >> thanks very much for having me. >> another day of another new sort of response to netflix launching, all of these massive traditional companies from disney to hbo to nbc were the giants when you guys started, now they're trying to answer your company's growth. did you ever think you would be in that position >> no. in some ways, i find of launch of peacock as well as hbo max and disney hugely validating netflix began streaming in to 07 for years we were alone in the desert all of a sudden to have everyone come in now is a validating response that says, maybe we were doing something right, and maybe this is the future of television. >> i wonder if there's one added threat that the sort of

comcast/peacock aspect might highlight. clearly think own the pipes as well to deliver the content through their capable platforms. do you work about those partnerships that netflix could get included from? >> i'm not part of the company, so i can't comment on that specifically, but i'm not word about that to starred usa is only one smart part of that global business two, the customers really decide what services they want to watch. at this point netflix's position is so dominant, it would be hard for me to imagine they would be cut off totally. >> we refer to it as streaming wars, but it is it a wore among streaming platforms or is it a war for cable for survival. >> i don't believe it's a war. that's a misnomer. it's almost like ""survivor"" or "amazing race. it's not winning, it's not losing who they're all competing with

is not each other. they are competing with other competition for time with linear television, with youtube, with facebook i think right now the penetrations are relatively low. youtube has 2 billion active users, so there is still a lot of up side, not just for netflix. one limit of pea sock is stole in part be ad-supported. some people have spec that ied a net application could consider, do you think it's core to netflix to be ad-free forever? >> i do. i think one of the things to require to be successful in streaming is being all in, which is betting on this outcome quite frankly i'm concerned about people who are trying to hedge their bets, who are trying to say how do i strayedle between several different businesses, spread my focus amongst them i think netflix does does not have that problem. i'm hone that peacock and hbo

max show that they're committed to this, really saying we are in this business. >> clearly you think there's room for a lot of these services out there, which may well be the case that said, does this now suggest that the easy part -- or at least the very fast part is behind the company and it's a grind from here? >> i would not say so. i think they still believe their penetration is low i think average american watches, what, 5 1/2 hours of television a day netflix probably amounts to 10% of that. there's still quite a bit of up side that's just in the united states. >> has netflix jumped the shark, if the name is now part of a favor for ben & jerry's, this is netflix and chilled. >> as you came to the set, you informed us. >> i thought you were being ingracious

i do have to say something, in 1998, on the first day we had 100 customers. it blew my mind. three years later we had subscribers, and again unbelievable we have an ipo, but netfl netflix & chill? i did not know. >> do you know that it does not mean come off, watch some movies and relax? >> yes, i do have childrens who have filled me in. is that new to you, by the way >> i found that out today,ened ooh i'm or horrified that you're asking more for something than just -- >> you found it out in a safe way, though, right what do you think of the flavor. >> assertive without being overpowering >> where is the one this came from i finished mine. >> it's only a pint.

>> i thought it was delicious. you only thing i would say, i love peanut butter it's too overpowering. >> still very -- >> you're a pinned half full person >> thank you for being here, marc. >> it's been my pleasure. >> i'm completely empty, alas. marc, great to see you as always facebook under fire again. we'll have the full details. and dorsey's diet, he's making headlines for unconventional eating patterns we'll discuss -- >> there's no ice cream. >> no, i don't think so. just a reminder, don't my jim cramer's big interview with satya nadella, coming up at 6:00 p.m. eastern on "mad money." ♪

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welcome back house speaker nancy pelosi slamming facebook during the weekly press briefing. ylan mui as more in washington. >> pelosi and zuckerberg have been on the outs since the

doctored video of the speaker went virile last year and facebook refused to take it down today she called the company behavior shameful. >> the facebook business model is strictly to make money. they don't care about the impact on children. they don't care about truth. about where it's coming from all they want are tax cuts and no anti-trust action against them >> no anti-trust action. that could change in the neither future because today pete buttigieg became the latest presidential candidate to rip on facebook he told "the new york times" that no one person or company should amass that much power meanwhile the house judiciary committee is wrapping upigion is quarter. and guys they are expecting to hear from ceos themselves before it's over back to you. >> of all the issues out there, i don't see why the election necessarily changes in is it not just a question of the fact that lawmakers over the

last two or three years have failed to get to the point of taking action? the peak of fury against the company is probably in fact past. >> i don't know that's true, wilfred i think the election crystalizes a lot of concern over big tech particularly in facebook, because of the way they approached political ads. earlier when facebook tried to make changes to its policy around political ads the pelosi spoke person slammed the company again. because facebook is so important to the lawmakers for reaching constituents and getting the meng out, i think the fact that these are all topics that are up for debate is going to mean this continues well into the election and afterward as well. >> ylan, thank you very much for that right to mike santoli for the final dashboard of the day. >> the team at headquarters new the references to adam smith quotes the first price of a product is

labor. >> the shop keeper nation. >> there you go. often on thursday looking at the unemployment numbers it declined again today on the one-week basis brought it to the 50 year lows this was in the spring of last year we nosed below what you have to see is an up trend in this number before you worry about the severe slowing of the economy or recession. the market checked off the box within the labor market has not weakened substantially and we are in decent shape pan explains the upside in the markets. >> thanks for that, mike coming up next, the buzz on wall street the big stories investors are talking about today. fights cancer. how the wod blocking the pd-l1 protein, lets the immune system attack, attack, attack cancer. pd-l1 transformed, revolutionized, immunotherapy. pd-l1 saved my life.

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>> announcer: what's igniting the market to new milestone. smart moves for investors now. strategy ahead of the bell sfauk on the street 9:00 a.m. eastern tomorrow. back for the wall street buzz first up, 1758 c.a.r.t.s, the largest rough diamond snapped up pb the buyer none other than lvmhh louis vuten. the ceo michael birk tells "the new york times" the company

spent millions and that the move is meant to wake up the industry is purchase is one of the company's splashiest since the acquisition of tiffany. >> they are taping it on a band. >> done, right >> there we go. >> it's going to be amazing how much of a clear stone they can get out of it. they look through laysers and see where the imperfections are. but you have the former president of the antwerp diamond exchange saying there are tepp people in the world who could buy and sell and the stone and know what td it could be a $50 million stone. >> i was wondering the yield. >> they are saying millions, not giving us more insight. >> it's chunky how does twitter and square ceo jack doorsy run two companies. he reveals his secret in an interview. >> i try to meditate two hours a day and eat seven meals every woeb just dinner.

>> i have to say sounds boring and restrictive, doesn't it. >> don't interrupt me i'm meditating. >> we had ice cream and talked about popcorn. >> tas that wasn't one of the seven for the week. >> one of myself for the day but, you know, if it works for him. i couldn't to it. >> a lot of people are into restrictive. if you are in kyoto diet it's like climbing a mountain. it's a challenge. >> but in the earlier ask that someone sent me earlier. he talked about favorite foods boiled fish, boiled chicken vegetables, greens. >> it seems it's not as much of a sacrifice for him as it might be for other people. >> one day wouldn't you be starving all morning. >> focuses the mind. >> really or just distracts you, you'd be rumbling. fair play, tim it's working he is a successful and impressive guy pivoting back to the markets,

mike, record trifectaa ea record closes again and session highs in a nice run up to the close. >> i think you basically have to struggle to find the why in today, except it's a strong patch much this bull market and continuing to kind of process all incoming news as reasons to go higher. up almost 3% year to date and we keep getting compareds to 2009 we were up 7% year to date in that year in three or four weeks. not even close to that and i think that iran conflict was a stutter step for the market that was just enough doubt injected into investors' minds to refresh the buying a bit. now that's not working forever but i think right now that's the evaluation. >> don't know if we check on the comcast share price after hours. the unveilment of the streaming service continues, hasn't of course been anything to derail netflix or anything coming into it in particular. >> no, it seems like people are

excited about the opportunities in the overall industry. and that the -- the older line companies are coming around. >> yes we are pretty much out of time here we close with rorpd closes on all three averages. >> thanks for watching "fast money" begins right now. have a great evening. yes it does. thank you. live from the nasdaq market site over looking world famous times square once again in for melissa. our traders on the desk. tonight on fast stocks surging to a set of record highs but if you think we come too far too fast we're breaking out the putback playbook plus check out bitcoin, up more than 20% in 2020 so what's behind the big move, b. chl k. we get answers later on pete najarian joins ups from the home of the twins with the fast