shows officers with guns busting in and handcuffing an innocent, naked, and very upset woman in her own home and now you know the news of this wednesday, snow day, 2020 i'm shepard smith. hope you'll follow us on twitter . it is 5:00 a.m. and a cold snowy new york here is your top five at 5:00. futures are hot again. we'll show you some big naming leading the rally. just how good the small cap run really has been. it is your morning rbi but forget stocks, it is all about bitcoin for many the crypto now crossing 22,000 amid its powerhouse run. and in d.c., congress closing in on a stimulus plan, they have just one day left to get a deal done. google being hit by yet another antitrust lawsuit.

and get out the shovels, maybe get the hot cocoa ready, digging out after the first major winter storm in a few years it is thursday, december 17, this is "worldwide exchange" right hiere on cnbc. good morning, good afternoon or good evening and welcome from wherever in the world that you may be watching. i'm brian sullivan thanks for joining us. lit us get a check on the markets and your money to start this thursday. futures are higher across the board. we're seeing gains for the dow implied open up 132. it was a mixed day yesterday nasdaq up you, dow down, but maybe here is a stat to wake you up on this thursday. 30 different s&p stocks hitting an all-time or multiyear high on

wednesday, including names like chipotle, yum brands, as well as retailers like tapestry, formerly known as coach. meantime, bitcoin powering to new highs, over 22,000 now if you go back to their lockdown lows in march, bitcoin was as low as 4200. it is at 22765 right now so carry the one, exit quoin is up about 415% since it bottomed out back in march. and other cryptos have done even better as well bitcoin, up $1400 right now, 22,784 let's go around the world, stocks in asia finishing mostly higher on the heels of the fed policy announcement yesterday. the kospi the lone index to fall and we are seeing a mixed trade

there, but the big story is one that came out just moments ago french president emmanuel macron has tested positive for covid-19 officials there confirm that macron will self-isolate and continue to work and carry out his duties remotely. again, this news crossing the last 15 minutes or so. we'll continue to follow this as the story develops throughout the day. now the big headlines, including just how close congress may be to getting a new relief bill passed seema mody is here with that and more >> good morning, brian congress appears on the verge of reaching an agreement on a virus relief bill after a month's long stalemate. leaders are increasingly signaling they are ready to sign off on the main elements including direct payment to americans, small business aid and covid distribution funds leaders say the fine details

remain if a deal is not reached by tomorrow, the government will shut down on saturday and 12 million people will lose unemployment benefits the day after christmas. meantime knmoderna's advanv could receive approval today and extra doses of pfizer's vaccine can be used after reports of some doses being thrown away after confusion. they were throwing away one in every six doses of the first round of treatments because of the issue. and in technology, we're watching google facing a new antitrust lawsuit, ten states led by texas have filed a legal, a claiming google unlawfully acquired, attempted to acquire or maintain a monopoly in several steps of the online ad marketplace and claims that google and facebook harmeded competition when facebook announced plans to compete with

google in the ad tech space. before they cut a deal to stop the competition. a google spokesperson says the claim of unlawful auction rigging agreement with facebook is not accurate. facebook did not immediately respond to our request for comment. but certainly one we're watching closely. brian, back to you >> no matter what the headlines are, the stocks don't seem to go down it doesn't matter how many lawsuits you they at them. seema, thank you very much let's get bakd to the mck t markets. dow futures up 130 points adding to an incredible few months for, well, everything small caps up 30%. naz c nasdaq up 15%, all in just 90 days so nothing can stop this powerhouse run, right? let's welcome in robert teeter

good to see you. obviously i'm saying that tongue in cheek you and i have been doing this job too long to know that when you see everything powering higher, everybody getting bullish, bitcoin up $1500 overnight as retail investors rush in, how much caution should we have right now? >> well, there has been quite a powerful rally and one of the big sign posts, small caps have caught up to large caps. so it is time to start looking ahead and say what is the next leg of this journey. for us, that means focus on evaluation and where it might go going forward. and we look at that in two ways. the first is on the financial side, you look at where yields are right now on corporate bonds, you look at the risk free rate on the ten year, dividend yields on the s&p. it seems that valuations are pretty well supported. but the other side of things on

sentiment, book call ratio, bull bear surveys, it makes it looks like a lot of brul lishness is already priced into this market. you have things line michigan coverager haven't fully recovered. san francisco fed looks at sentiment through an ai lens looking at news media sent himself. that has clawed its way back to neutral, but far from positive so a little room to go, but you have to be a bit more selective here >> you don't sound too concerned. but if i look at valuations, you could say that they are their high by most traditional measures, but then i look at interest rates and i think, well, with rates still below 1% on the ten year and fed funds rate basically zero and probably not moving higher for the next number of years, i could make the argument and you could too that when you look at with an interest rate lens on, we might still have a little gas in the tank >> i agree with that view,

you're right valuations are up towards the top end of historical averages could you probably squeeze a little more juice out of this with some improvement in sentiment and once we start to see covid cases come down, maybe a little bit of relief from some of the other bricks in the wall of worry falling out, but you have to be cautious and selective as well. >> you like financials >> we do you want to look to the parts of the market where the economy will be helping you. in a normalizing economy which we think we'll see next year, stronger economic growth, as you said, feds staying out of the picture on the short end, steeper yield curve traditionally better for financials we think that you will see a jobs recovery, we think that you will see that sentiment numbers pick up a bit once the covid situation gets better. there is pent up demand. we think consumer discretionary looks good and there will be a focus at

putting people back to work. we think that means whether infrastructure, on shoring or otherwise, that helps companies in the industrial space. so there are some good opportunities. >> i was just on the road for a couple days in texas and louisiana, and once you get west of new jersey and new york, it is a very different world. the optimism is palpable out there and people are getting on with it. robert, have a good day. thank you very much. saw a lot of help wanted signs and a lot of trucks. so much more do when we come back the latest on the massive winter storm that is still hammering parts of the northeast leaving a mess in its wake oil hovering at nine month highs, but your next guest says that the market may be getting ahead of itself just a bit and an exclusive look at the stocks that are seeing the most buying buyer that i own executives, it is our insider buying segment yeah, we're throwing it at you a

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while many of us are still able to work from home, look at that, millions more who simply cannot and for those in the northeast, new york city, times square, it will be a slow and maybe dangerous ride to work today

heavy snow and strong winds hammering the region jay gray is live in new york city's central park. and i won't ask you if it is cold because i know it is really cold and you know, i was thinking, when is the last time we had a snowstorm it has been i think a couple years since we've actually had this much snow on the ground >> reporter: you're absolutely right. two years since we've seen major snow here in new york. and we've already surpassed last year's entire snow total just in the last ten hours or so central park covered in white right now. the snow continuing to fall. we were here last night really since about sundone down. and shifting a bit to some sleet here and it is a mess really from the mid-atlantic through the east coast. 70 million people or more dealing with this winter storm not only talking about snow, you've got ice, a wintry mix

causing multicar pileups, one of those turning deadly in pennsylvania unfortunately, two people died in a massive crash there. and then you've also got the issue of business. i talked to some hardware stores yesterday and they saw a bit of a boost. they are selling sleds, shovels, ice melt, things like that but otherwise across the board this is another gut punch for so many businesses that have been dealing with the pandemic. now this look at restaurants that were really essentially only takeout or, you know, dinout they are losing that for the next couple of days. just a rough go. >> yeah, you can sit outside if it is 45 degrees with a jacket on, they have the heaters going. i don't know where they are getting all the propane, but now this and a lot of schools -- even schools that are remote are calling snow days trying to give the kids a sense of normalcy,

but now of course they won't be doing anything all day i'm crying on the inside >> reporter: you're right. the idea is get out and play in the snow, but it is a tough go it is 2020, what would you expect >> godzilla coming up behind you, maybe a couple giant ants crawling out of the ground there. who knows. i got to say this to you, and i mean this totally because i like to be on the road too, i don't know how you do it, brother. you're in tucson on a tuesday, walla walla on a wednesday, toledo on a thursday are you a triplet? are there three of you and you just pop up? >> reporter: no, i'm just cheap and easy that's all >> you got your own plane or really fast car. jay gray, you move around, i'm in awe, sir. thank you very much.

stay warm. still on deck, moderna set to join pfizer in the push to get the vaccines ut s out to the masses we'll speak to an expert about the differences between pfizer and moderna and hopefully the oncoming astrazeneca vaccine, which one should you take? we'll find out today's big number -- 24 million. that is how many switch console units anyonintendo expects to sl in the year period between the start of the pandemic and march 2021 nintendo switch has stopped both xbox and playstation consoles in sas lefor the last 24 months straight

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welcome back would you believe that really the only major market out there that is hotter than the cryptos like bitcoin has actually been crude oil? that's right oil prices are up 21% just this quarter. you've got inventories down, demand seen growing and opec somehow managing to hold it all together but your next guest says things can change quickly we're joined by chris midgly oil has been hot

do you think you tthe recent mop is justified by the numbers and the forecasts that you've seen and that you have? >> no is the simple answer to that and great to be with you again the reality is we still think the worst is still to come i'm here in london feeling festive, but the lockdown has been reimposed and we're going to see more lockdowns. so we do see still some challenges to demand as we go through this winter period and into early 2021. you're right, opec is showing some constraints but they are bringing barrels on slowly as of january, 500,000 barrels a day more they want to keep prices i think in the 45 to 50 range. so i think that there are some challenges not only on demand, but also keeping that supply

constrained, but not you allowing the prices to get too strong which would overstimulate u.s. shale production. >> and by the way, we used to track pretty closely the friday rig count numbers and after months and quarters of going done, dow down, down, down, they are starting to tick back up do you think those heavily indebted shale producers, you know, they are all ultimately it is every man and every well for itself >> it certainly has been that way for a long time. but as you know, this year has been a bit about consolidation, bigger plans will show stronger capital discipline, they will manage their capital and not overreacts and although we've seen increases in rigs, we're still about 100 rigs away from being at a level where we could sustain production at today's levels so we do see that shale will

decline through the first half of next year before recovering again in the second half and we think the shale producers will be a little more careful around how fast they return. we've seen permitting in federal lands has dropped now since the election results we saw a large growth in permitting in federal lands. we don't think that the biden administration is going to stop fracking immediately, but certainly we are seeing now a little bit more cautious play there. so be careful not to overread too much into those weekly rig increases. >> yeah, that is a fair point. and by the way, without getting political, if the democrats ever have their eye on texas, which we know that they do, going after fracking may not be the smartest political play. just i'll throw that out there i had tweeted out yesterday because i was just in texas and louisiana the last couple days, drives around, airports were packed, my flights were sold out, once you get out of the new

york area, probably the same with london, people are moving around a lot more than we are. but i saw you thought that refiners may struggle. you don't think that refiners could have a big year next year as spreads tighten and margins hopefully come back up >> we're still sitting on a huge overhang although you talk about stocks tightening, the amount of gas oil that is still around, and usually as you go into winter, you expect stocks to be drawing down, and they still remain high so that is the one part of the barrel which still remains weak incentivizing people to stall rather than to draw the oil out. so that continues to put pressure on products we've seen driving is lower. we saw that over thanksgiving. we're likely to see the same across the world where people won't be able to travel to see their loved one, they will be staying at home. they will be heating their houses, using gas and

electricity to heat their houses and cook their dinners in their smaller group, but they won't be driving. so reminders will continue to struggle and it is not only the lack of demand that is causing a problem, it is also biofuels is starting to grow in its penetration and we have what we call more natural gas liquids, the light liquids that come from gas production which are used to make petra chemicals which is also growing stronger at 4%. and that substitutes the need for reminding. -- refining. so refining continuing to be under pressure >> chris, we appreciate it best to you and your happy christmas as you guys say in the uk. and i do hope we all bust out soon on deck, we are have got a little thursday morning quiz for you. can you name the hottest metal in all the land? no, not like be the nmotley cru

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closing in on 23,000, all overnight. plus digging out, the east coast waking up to big piles of snow, high winds as a very serious storm takes aim at our region it is thursday, december 17, and this is "worldwide exchange. welcome or welcome back and good thursday morning that weather really nasty, by the way. i stepped outside before the show and just said let's go back to bed let's start your thursday morning not with stocks because that is so 2019, right but with digital money and metal money. i want you to look at bitcoin right now. that is not a year long chart. i mean it is, but i'm talking the current rice bitcoin adding to tesla's in

value, shares of tesla's in value. bitcoin is up $1145 right now. by the way, that is not a week long move. that is the current price, 22,500 we only broke 20,000 a couple days ago, we broke 21,000 overnight and as soon as it did, breaking 22,000 bitcoin up 400% from its march lows. i saw my friend yesterday said he thought bitcoin could question to $400,000 wow. there is your crypto by the way, old school money, call it like pirate money, is also soaring and here is the answer to your quiz before the break. it is silver, not gold, that's right, powering up, up more than 40% this year. silver up another 1% right now and oh, yeah, stocks, heard about those? stock futures are also higher,

dow up about 140 metals up, bitcoin oiup, stocks up, real estate up, oil is up, what could go wrong? now to a special thursday insider buying segment today because tomorrow is a day of rest, at least for me. and this segment is where we look back on the week and he find out what executives bought the most of their own stocks with their own money, all the data coming with our thanks to insider score do.com number five, delek, a board member i thought reminders could have a good year if their margins did come back up, and chris disagreed, so maybe put a little wani way wager there. stock number four, ati and stock three, coty. princess anna of bovaris, buy g

$232,000 worth and second most, enterprise financial services board member who is also a member of the san francisco fed buying $307,000 worth of that missouri based bank. and the most insider buying this week, cellphone tower builder crown castle chairman buying $330,000 worth there. his second buy of just this quarter. so no huge buys this week, but those are the names, refiner, steel company, cosmetics maker, a bank and cellphone tower company. and by the way, this will be your final insider buying segment of the year. you got the holidays coming up, buying slows down and by the way also five of the stocks that we've shown you in this segment last couple months have doubled so far this year now to the big developing story out of d.c congress nearing a $900 billion

covid relief bill. ylan mui is joining us with where we stand literally 123491t123491th, maybe 12th hour of negotiations. >> and i'll give you another time table 48 hours, there are less than 48 hours until the government shuts down and congress is making head way on that comprehensive spending bill and a covid relief package, but there is still no deal yet senate majority leader mitch mcconnell is now warning lawmakers that they might have to stay here over the weekend in order to finish work on these two bills. and one of the top democrats in the house, steny hoyer, said if this takes another three or four days, they will take the time that is necessary. and that is because there are some really tough tradeoffs here we know that this bill will be worth about 900 build in coronavirus relief there would not be state and local aid, there will not be liability protections, but lawmakers are still hashing out the details of stimulus checks

versus unemployment benefits the direct checks are expected to be about $600 a person, but some lawmakers are pushing for a bigger listen, working families need help they need support. and remember, when this started out, they were going to get zero >> to pay for those checks, the expanded unemployment benefits that were supposed to last through the spring may have to end a little bit sooner. >> let me tell you, i hope we don't see this deal slowed down or stopped to debate the exact number i think any help that we can give to american families, we should give them >> now, if they do not get this done by midnight tomorrow, congress will have to pass another stopgap funding measure just to keep the lights on in washington until they can finish working. back to you. >> how likely would that be, that stopgap measure

>> right now it is really unclear, it depends on how quickly they can finish up the agreement so that all the staff members can start writing the legislative text and sort of going through the process on capitol hill already it is clear that they will need consent from every single senator in order to speed up this process. and if they can get that, there is still a chance that they can get it done by friday night, but otherwise we're looking at another weekend in washington. >> ylan mui in d.c., but we are i thi inching closer thank you very much. of course while your other huge story of the week perhaps of the year is the progress of getting covid vaccines to americans. today an fda advisory committee is set to vote on whether to recommend authorization for emergency use of moderna's vaccine. if approved by the full fda, the vaccine could begin shipping this weekend, kind of following

the same time table and logistics as pfizer's this week. let's bring in now researcher and engineer at m.i.t. we know that there are a lot of similarities between pfizer and moderna's mrna technology, a lot of differences in terms of temperature and how they are manipulated in the cold. how would you decide or define the biggest difference between those two? >> good morning, thanks for having me on so as you mentioned, the good news is that the moderna and pfizer mrna vaccines are very similar in that that they are both effective and safe. on tuesday moderna provided some additional info that their vaccine may reduce asymptomatic infections and there isn't enough data to say for sure yet, but when participants with no symptoms were swabbed between the first and second dose as part of

surveillance testing, there were more positive cases in the placebo group than in the group that had received just one compani dose so it may be that the vaccine not only protects against disease, but also infection. and pfizer is expected to have similar data in january. >> that is amazing and we follow the vaccines the last couple days down in louisiana and texas, and of course keeping the pfizer vaccine at negative 80, negative 90 degrees celsius was absolutely critical. moderna doesn't immediate those kind of ultra cold temperatures. why not? what is the difference between those two when it comes to temperatures >> so both vaccines use messenger rna to provide instructions for our cells to make that protein of the virus both companies use lipid in an know particles to stabilize that

mrna and help it get into cells, but each company have their own proprietary form uhe layiulatioe with absolutely different ingredients. so this leads to therefore the storage temperatures required. >> i'm not going to pretend i understood half of that, but i can look at a refrigerator and freezer and say that is the temperature there. you know, you think about the difference, we say who cares, it matters a lot. i mean, keeping something at negative 80 degrees celsius, trust me, i put my hand in the freezer for two seconds, it was very cold. it will be easier i think every step of the way for the moderna vaccine. >> yeah, and so the pfizer vaccine ships with a larger number of doses. and so with those added temperature requirements, it is likely that more densely populated areas and facilities with those specialized freezers will acquire the pfizer vaccine while the moderna vaccine could be used in less densely

populated areas that may not have the ultra cold storage. but even hospitals in less populated areas are investing in the cold freezers so they won't miss out on any vaccines >> and we saw some of them, but they cost $20,000 and up very quickly, the astrazeneca vaccine, assuming it is approved, and i don't want to go too far into the weed, i understand it is a more traditional vaccine, a lot of insiders say that they would rather use that one because it is sort of a more established vaccine technology, if you will. how did you define the difference between assist shen came a astrazeneca and moderna and pfizer's >> astrazeneca vaccine uses a viral vector and that is more traditional, but thus far all the data that we've seen with both the moderna and pfizer advantage establish vaccines are great for me, i'll take whatever vaccine is offered to me as soon as it is offered to me

>> trust me, i was down there with them and if there is one going in the garbage, i've got a left arm right here. but sadly, i think that we're way down on that list. but appreciate you bringing clarity to a key story there >> thank you for having me coming up, a major winter storm hitting the east coast if you are in this area, just look out your window we'll get you the latest on the snowfall amounts with bill karins coming up next. but first, as we head to break, some of your other headlines, the fda giving the okay to abbott labs' rapid covid test for at-home use. that is a big deal the $25 nasal swab does require a doctor's prescription, but you can get your answer in about 15 minutes. imagine that having grandma come for christmas, takes the test, everybody is clean, there you go hbo max will be available on roku devices as warner media

prepares to simultaneously he release its 2021 films on the streaming service and in theaters and dog supply startup bark box is reportedly going public in, what else, a spac deal wall street journal a says that the transaction could be announced as soon as today dow futures up 130 bitcoin up 1800.

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welcome back if you are just waking up and you know the dog needs to go out, well, look at that. bundle up, that is times square. a couple brave souls out there we got crush ted by snow and wi here, and they are all laughing at us in florida, the question is what can we expect going forward? i stepped out this morning and the winds were just -- went right back in. bill karins is joining us with the latest on how hard certain areas got hit, bill. >> and these stories, there is always the overachieving and underachieving areas very rare that you say that you will get 12 inches and you get exactly 12 inches. the area that has overachieved, looking out the door and going oh, no, that is southern new york binghamton, they have reported almost three feet of snow with this storm and it is not the just one isolated area, it is kind of

widespread through southern new york you notice some of the other totals from 25 to 31 inches of snow the i -95 cory do dory door, at dulles, 2 inches philadelphia got 6 inches. central park with 6 inches new york is it i area is probably one of the most did that disa a pointing if you were hoping for big snow totals probably end up somewhere around 7 or 8 in central park.pointing hoping for big snow totals probably end up somewhere around 7 or 8 in central park so it is still snowing hard from binghamton the albany area, because lot of pennsylvania is starting to clear out. but still 54 million people under the winter storm warnings. the blue is snow and the white is whering it snowing very hard. so that heavy snow band is shifting toward albany, through southern vermont and new

hampshire, great for some of the ski areas. so additional snowfall, not a lot left, southern new hampshire could get another 4 to 8 inches along with areas around portland, maine. boston 3 to 6. but just about done in areas like new york city pretty good for the first storm and a lot of this should stick around for christmas >> i was going to say, is it going to be a white christmas simply because the temperatures won't go up? and also, go through that sort of file cabinet brain of your, i'm trying to remember when the last time that we had significant snow in the new york area was i mean, i think we haven't had a real snow storm here in a couple years, right >> yeah, two years ago we had one that was around 7 to 8 inches and this one will be similar yeah, last year we had one that was 4 inches in new york city and that was it. so yeah, 2, 3 years in many areas in the northeast since we've seen what we're looking at

this morning >> bill karins, looking at some of the snow totals, a snow day for many kids who were learning remotely thank you very much, buddy on deck, your morning rbi, a small stat with a big return plus, our time has finally come "worldwide exchange" is now a podcast, another way to get all the essential actionable information that we bring you every morning. bringing the heat on a cold day here on wex as we call it sbrern internally subscribe to "worldwide exchange" today. who is that guy? what if you could have the perspective to see more? at morgan stanley, a global collective of thought leaders offers investors a broader view. ♪ we see companies protecting the bottom line by putting people first. we see a bright future, still hungry for the ingenuity

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welcome back time for your morning rbi and today we'll stay focused on small caps because we have been talking a lot about tell for months now

and guests who have been recommending them have been spot on and they made you money he if you listened to them but here is what is random but interesting.he if you listened to them but here is what is random but interesting. you know they have done well, but maybe you don't know just how well they have done. check it out, the russell 2000 has outperformed the s&p 500 by 13% in the last month and a half and if that sounds like a lot of outperformance, it is. in fact it is the second best six week margin against the broader market since the russell 2000 was created back in 1972. if you are wondering, best ways a 21% margin back in march 2000. and this kind of movement hasn't happened that many times, but in the rare times it has happened, small caps tend to keep doing well even if they pulled back a little in the near term. about the line of all this the davids of the market have

trounced goliath lately and it is possible, possible, that they may keep doing it.dom but inter. and let's stick with the markets. jason is joining us. it is real early for those kind of numbers, but have you been a believer or a buyer in this kind of record small cap run that we've seen >> so it is interesting. first of all, sully, great to be with you and we've seen a lot of optimism across the spectrum in all sectors of the market obviously. a lot of optimism around the stimulus package coming into today and hopefully throughout-before this weekend is up, they will likely get something done so for us, yeah, small caps has been a nice basic allocate capital, but we lever towards industrial, materials and health care space as well where we see kind of opportunity in the long

end. >> it has been this run, and you know, when you look out, bitcoin is up 1300 bucks right now i mean right now, up $1300 overnight. small caps up, real estate up, everything is up except for the eagles record. i'm just wondering where is all this money coming from >> and the over thing i will say, there is a lot of capital that has been on the sidelines like my son mentions to me, fear of missing out, fomfomo, just learned that the other day but there is a lot of optimism across the sectors and again this year has been a year of multiple expansion i think going into next year, it will be more about the kind of -- the growth story and really looking at earnings making sure that those earnings are supporting the expansion that we've seen over the last couple quarters this year. >> it certainly has been is there any part of the market

that you would sell to raise money to buy stuff if there is anything by the way that may be slightly undervalued >> that is a great question. i mean, what we really sold, we haven't sold a lot of equity because you see the rsp is up almost 10% in the last 60 days we really sold some of the debt, some of the fixed income debt that we had, which was not a lot, and transitioned that into health care and we've been levered heavily on the tech and discretionary side, but we have started to lever to health care, materials and industrial space over the last several months to round us out from an allocation perspective. >> how much sort of, i don't know, vaccine risk -- i don't know what to call it a lot of optimism. i felt it on the road the last few days vaccines are coming. it will be a tough couple months, but people can see the beginning of the end is there too much optimism on

that priced in >> i believe to a large degree a lot of it is priced in but again, when i kind of look at going forward, you know, and the earnings story looking to companies with solid multiples you know, looking at balance sheets again because this year a lot of those metrics, you know, that we generally follow has been thrown out the window so i do think, you know, if you are looking for the value play and looking at, you know, some of the metrics, i think that is where the growth will be going into 2021. >> and there is a lot of expectation also that congress will get some kind of relief bill done. they are negotiating, ylan talked about it, they are getting close, but we assume, we assume, it will get done my cad used to tell me what assume means, makes something out of you and me. and what happens if congress doesn't get it done, how much

stimulus hope is in the market as well? >> so that would be very challenging. main street is struggling. that is the heartbeat of our economy and we need to get something done because the bifurcation between main street and wall street is growing every day. so we definitely need to see something happen, hopefully prior to the new year. and i do think at some point that it will impact the markets. obviously the small businesses don't he show up in the major indic indices, but they will impact as we look at everyday folks struggling and the savings rate coming down. you know, that will have an impact long term so we need to make sure that something get done >> yeah, a huge impact let's switch gears, are you a buyer of bitcoin bitcoin is up $1300 right now. >> so we really like the fintech

space. we've been major buyers of paypal just creating that platform for folks transacting in the bitcoin space i think has been huge. so i do think there is opportunity there and there is continued run and it will continue to grow the next several years. >> jason stipe, a pleasure to have you back on enjoy this beautiful winter weather and mayor write christmas to you and your. >> thank you very much before we go to "squawk box," i want to have a final comment. and a thank you. of course we've been out there on the road following the vaccineses last few days and something hit me, and maybe it will hit you too. and we've given huge and well deserved could you did hkudos al the top scientists who busted their you know what to get these

having a even vaccines out but we also want to thank the people getting them to you and one of them is ray of morris and dixon. we followed ray down to lake charles. the back of his van filled can coolers filled with the vaccines think about this, after the months of hard work, complex low xwr logistical challenges, to get the actual shot into actual arms, it comes down to ray and a ford econoline van amazing. thanks, ray. that does it for us here i'll see you on monday "squawk box" is next with dq cough and congestion. it's max strength formula coats your throat and provides powerful relief. new dayquil cough and congestion. the maxcoat daytime power through your cough medicine.

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good morning progress on stimulus negotiations, but no deal yet. we'll take you live to washington for a look at just how close congressional leaders are now to the finish line today is the day a key fda meeting on the moderna vaccine we'll tell you how soon the vials could be shipped out and check out bitcoin surging above 23,000 before pulling back now up more than 20% in the last week it is thursday, december 17, 2020 "squawk box" begins right now. ♪ ♪ the weather outside is frightful but the fire is so delightful and since we've no place to go let it knit snow let snow let it snow ♪ >> good morning, i'm becky quick look with joe kernen and andrew ross sorkin. yeah, let it snow.

we're warm and cozy. lucky us let's take a look at the u.s. equity futures right now you are looking at some glean arrows. yesterday the dow closed down, but the s&p 500 and nasdaq were higher if you are looking at these levels right now, if they were to open at these levels that are indicated, s&p indicated up by about 19, nasdaq futures up by about 58 if they were to open here, they would be looking at intra day record highs just based on these gains we're seeing right now anyway probably good time to look back and see where we've been this year because, man, things have been a little hairy. the nasdaq has been an incredible performer, another record close yesterday it is actually up year to date by 41% compare that to the s&p 500 only upy ou