the nasdaq opened this morning hot hitting an all-time high, quickly cooled off. let's head up to the midtown exchange and check in with morgan brennan. >> the nasdaq quickly coming off those earlier intraday record high. we've seen right now coming into the close it's poised to close in the red slightly lower, about 0.1%. that being said, the nasdaq is on track to end the week about 1.7%, outperforming both the dow and the s&p and the big bright spot here has been chitmakers this week. you have the stock sem se conductor etf on track to close the week up more than 4% thap that's thanks in part to upbeat earnings including nvidia and applied materials. you can't talk about that and not talk about mega cap tech. a big sell-off in these names last week and the first part of this week. analysts saying maybe that sell-off was overblown.

one source of pain for the nasdaq and stocks appears to be rising rates. year yield last at levels seen and may. desk in may. may. only going to the bloomberg and take a look at a chart we looked at just a few years ago -- weeks aqua,e have the nasdaq in in white we have the 10 year yield, and the new normal of bonds selling off is shown as this divergence, we are starting to see the divergence close with the nasdaq coming down, rates going higher. if this continues it suggests we could see that nasdaq and stocks correct a bit more as stocks go higher. as for what is moving today, starbucks trading lower, one of the worst drags on the nasdaq. deutsche bank lower. at 4%.e now looking they are bearish ahead of the andany's report on monday starbucks did put in a 52-week low. one bright spot, we are seeing a rebound and biotech. biogen and silky recovering. -- celgene recovering. 65% of s&p 500 companies have reported their third-quarter results and 76% beaten estimates. with barely the average gain shy of 1/10 of 1%, it is a typical quarter. our next guest sa

the nasdaq at 5368. and nasdaq, it's been a couple months since they have been able to do that. the transpacific partnership has been tabled. let's get back to seema moody with a look at how america's retreat from the tpp could open some doors for china. seema? >> hi, kelly. well, president-elect's rhetoric with china could be a negative, but his potential plan to tear up tpp could be a big positive for china as experts say it would i understaundermine the a allowing china to step in to fill the void. this was brought up by xi jingping. there have been reports of china working on its own trade deal to counter trump's proposal. three countries most likely to strengthen their relationship with china including japan, south korea, which both are dealing with their own economic did stress at home, and phillip keens who continues to praise china, a move that could have geopolitical repercussions in the south china sea. >>> the trump victory has helped the dollar rally. another win for china and its exporters. >

the dow, s&p and nasdaq holding on to slim gains. although the russell 2000 which you don't see there, is in the green. that would be the 11th straight winning day. very rare going back more an a decade. >> the stronger u.s. dollar may be great for u.s. tourists traveling abroad but for american companies doing business overseas maybe not so much. we'll run through the list of u.s. companies that stand to lose the most. >> also ahead old media stocks have shot up since the election. ironically they could have more room to run thanks in part to all the fake news that erupted during the election. alpha seems more elusive today. is it because so many go after it the same way? chasing after short term returns. instead if getting caught up with the crowd, the investment managers at pgim take a long term view, teaming specialized active investing with risk-management rigor, to seek out global opportunities. we manage over a trillion dollars this way, attracting many of the world's leading investors. partner with pgim. the global investment

the nasdaq is up as well. lding back the gains on the s&p 500 are companies like allergan. stanley fischer is speaking at the brookings institution. text. a prepared he says that bond market fire sales are a policy concern. he says we must watch the potential for market stress. he says the flash market events may be more frequent and he is not commenting on the u.s. , it's all fed policy about market liquidity which he says is adequate i most measures. -- by most measures. fischergo to stanley when he starts his comments. text of the speech of market liquidity -- he joins a string of federal officials meeting this week. more on what we are likely to hear in the wake of the election, we are joined by joe weisenthal. let me take one headline -- stability benefits may out -- may outweigh the cost of liquidity? a conversation emerging after the donald trump election about what happens to financial markets. seen a huge rally in financial stocks since the election of donald trump on the belief that there will be a ro

the nasdaq was up a little. ose declines were small it was a reversal of the trends we've seen since trump's election when tech stocks did well and bank stocks did badly. they had their first down day in seven. fell 1.5%. while the headlines falls of the market it was a trump rally reversal. this morning we're flat in the premarket. the dow called higher by seven points. let's look at oil prices. they rallied strongly on tuesday. they suffered a bit yesterday. they are up again today, 45.7. but they were one of the main drivers for outperformance earlier in the week. >> across the bond, let's check in on european equities. we're early in the european session. like the u.s. markets, we've seen healthcare and bank shares pulling back which have been the drivers of the market rally we've seen post-trump. let's look at the dax, down by a third of a percent. the french cac, not going anywhere. ftse 100 seeing minimal gains. later on today we will get the minutes from the european central banks october policy meeting.

the nasdaq could do it. and the oil story about to explode as opec appears to be in full blown panic mode ahead of the big cartel meeting tomorrow. we have just got a flurry of activity in the past couple of minutes over at trump tower. the president-elect has already named his choices for transportation secretary and also health and human services secretary, but a name familiar to our business audience, goldman sachs' president gary cohn, is expected there at any moment. could he be up for treasury secretary? our cameras, as you see, are live right there. we'll take them when we see anything for you. we have arrests ramping up at minimum wage protests across the nation. we're going to take you live to chicago where o'hare airport workers are demanding $15 an hour. jeff flock has just pressed one union rep on the issue. we're going to show you that heated exchange. but you can see the crowds that are only getting bigger at this hour. to ohio state, federal investigators leaning toward terrorism in yesterday's

and the nasdaq up by 11. we had a strong week last week even though things did end down for the day on friday for the three major indices. still very close to those all-time highs. it's been quite a couple weeks in the markets after that election result. if we can take a look at what is going on in the currency markets around the world, the dollar is still on a very strong run. however, today does look like the euro has pulled back or started to gain a little bit against the dollar, but remember the run that we have had there, the yen here relatively flat against the dollar. and the pound is weaker against the dollar as well. we have comments from a number of world leaders including teresa may talking about corporate tax policy hoping to be potentially one of the lowest in the g20. we'll see if that happens. then oil is higher by 1.5% last we checked and still sitting there for wti. around the $46 a barrel mark. we have comments out of putin potentially giving some more credence to what opec could do with that

the nasdaq up 3.4%, the s&p up 2.9%. by the way, if we take a look at the market today, look at shares of deere which is up 10% today, and the earnings were a huge beat. they expected a smaller than normal drop in their earnings. they even said this year is one of their ten best ever. >> that is huge for the economy overall. if you can see companies like that do well, that's a good sign right there. with the dow up 40 points, we're in record territory. a leading trader will tell us what he is looking for on the close this thanksgiving eve. >>> how a judge's decision on overtime pay could affect workers across the country. stay tuned. is it because so many go after it the same way? chasing after short term returns. instead if getting caught up with the crowd, the investment managers at pgim take a long term view, teaming specialized active investing with risk-management rigor, to seek out global opportunities. we manage over a trillion dollars this way, attracting many of the world's leading investors. partner with pgim.

the nasdaq has gained more than 4%. elf. >> this is a big question, and joining us with our picks are mark and -- and reverend luna. wealth management. give under the circumstances some places to look here. >> both of the subsectors of the market are up 15% to 20% post-election, and i think they've gotten way ahead of themselves. i think that some backing and filling to the tune of 5% to 10% would be in order before i would be a willing and able buyer at that juncture because i do think they stand to benefit from the trump bump that lasts well into 2017 if not beyond. >> you think jp morgan is another one. it's come so far in the last few weeks. you would hang on, but you wouldn't buy is here, i guess. >> yeah. i would agree with the other guests, bill. financials have been a dog for several years now, and you are starting talking about trump initiatives like deregulation. you are starting to see interest rates rise up. finally the sector is going to face some tail winds instead of head winds. jp morgan, though, is one o

how would that affect the nasdaq? e now have a republican administration and to the extent they continue to show a pro-business orientation, that does tend to come with balance and regulation, and one of the significant areas of regulation that has impacted our industry has been dodd-frank. while a lot of safeguards have frank,t in place from. there has been unintended consequences, most notably that banks are no longer in a position to offer liquidity into some of the markets where we operate. we would like to see the opportunity for dodd-frank to be modified to allow banks to take risk in the markets as they had to provide that liquidity. to recognize the fact that an enormous amount of work went into the creation of dodd-frank, and there were a lot of reasons for it, so we need to recognize the history we come from, but we also know that whenever you put in new alwaysion, there is unintended consequences that come with it, so how can we make sure we are more likely modifying regulation to make sure that it really is

let's get to the nasdaq. ng major averages and bertha coombs has more. >> last sessions about bio techs. it is all about big cap tech with bio tech taking a rest here. big cap tech up for the second time in the last five sessions. apple up for the second time in five sessions. take a look at amazon, facebook, google all of them finally breaking a four session losing streak. amazon providing the biggest point impact. that said, let's not ignore the small caps, the russell 2,000 on pace for ninth straight day of gains. that is the longest winning streak for the small cap index since the first quarter of 2013 and today we're also seeing a big boost for airlines overall. airlines are up with warren buffett's berkshire hath away taking stake. jet blue going along for the ride. sky west impact with a 52-week high. >> bertha, thank you. we'll keep an eye. 20 minutes to go into the close and a dow that is positive by 37 points. the s&p 11 points shy. >>> president obama has opened up cuba to businesses here in the u.s

it sums up with the nasdaq down 2.5. the dow down 1.3%.k up in volatility, not a spike in volatility. >> not a panicked sell off like we saw after brexit. >> increasing caution and uncertainty around the election with more money going into cash, really, than anything else. a bit of buying. >> it's off the table. a lot of traders saying people are derisking, waiting for the results to figure out what trades to put on. >> i would point out, as well, the other factor, year-to-date, a thin layer of leaders in the market. it's not widespread. that's a reason for caution. people, at the end of the year, want to lock in the gains they have made. let's look at the european trade. they are down 4% for the week as a whole in europe. the ftse 100 declining because of the rally in the pound. all in all, europe looking at 3.5% to 4% decline. asian trade, we saw a sell off in the nikkei. the yen is not strong, but hanover the last couple sessions. the nikkei was closed yesterday for culture day, i believe. we have hong kong and shanghai into the week so

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the lobby of the nasdaq. is it open in the morning? >> they will open it up for you. they brought that location in just for you and did a combo taco bell starbucks just for joe. it's next to the golf simulator and the chef that makes the omelets to order. >> i wish this were all true. i really do. and the other stuff i don't even need. just the taco bell with the -- >> sadly, it's not true. we're just pulling your leg. >> with the shots. >>> our guest hosts this morning bill miller and his son bill miller iv of lmn investments. you mentioned your second biggest position. and it's about to embark on an actually field test in florida. what's the next catalyst here for this stock? >> a little bit like the wild ride at disney world. because it's a portfolio of options. it has -- nothing is really commercialization yet. arctic apple will hit the market probably next year. the market will hit next year. the friendly mosquito, to control that. apart from florida, there's going to be significant release of those in b

she takes the helm of the nasdaq in january. re watching is tencent the , chinese internet giant set to report third-quarter earnings on wednesday. last quarter, they delivered $5.5 billion in sales, a 52% increase. sales are predicted to rise 47% in q3. china's popular messaging app wrapped up a purchase of a game maker. up next, one of the fastest-growing startups in silicon valley, we talk about the future of cyber security under a trump administration. if you like bloomberg, check us out on the radio. my show is at 2:00 wall street time. check us out any time on the bloomberg radio app. this is bloomberg. ♪ >> is 1:30 here in hong kong did paul ryan has won unanimous republican support for another support -- for another term as house speaker and says he is backed by president-elect donald trump. texas senator ted cruz is said to be in the running for attorney general. he visited trump tower, but declined to say whether he is under consideration. trump says only he knows who is being considered. -- pboc has weakened for today'

the nasdaq added 17, and the s&p 500 rose 4 to close above 2200.hat will it take to get the blue chip index to the next big round number? mike santoli takes a look. >> by crossing before the 19,000 mark for the first time ever, the dow jones industrial average has exceeded most wall street forecasts made even a few months ago. yet as investors assess the meaning of this landmark it's worth remembering 1,000 dow points are not what they used to be. since the dow first hit the 18,000 level amounts to a 5.5% gain and took the dow two years to advance this modest distance after first reaching 18,000 in late december 2014. for an extreme comparison, after first reaching 10,000 in march of 1999, the dow added its next 1,000 points in only five weeks, at a time when 1,000 points equalled a 10% jump. during the 23 months since its first trip, the dow dropped below 15,500 after the federal reserve raised interest rates, oil prices collapsed and the chinese currency plunged. the bounceback from the february market lows came as the fed eased back on its rehik

the nasdaq has been underperforming. it's a lot of the big tech names, and i think a lot of that is regret, if you will, with some of the tech leaders speaking out against donald trump and donald trump winning. i think a lot of that was just an emotional selling pressure on those names. you're right, while they have earned all the attention, when you think about what the trump policies will do to those particular names, if he gets them all enacted with regard to colonization and trade and growth from the fdr. the trap on that thing has been straight up since. >> and jeff, what would you advise people to do here. is it time to get more exposure fr from. >> we interviewed investors of schwab both before and after the election. 70 to 75% both times said they aren't changing their portfolio. i think the key is that the biggest sector of the global stock market, financials are, put on potentially more, and the thern. you seem to bode well. that's good not just for financials in the u.s., but also asia and europe. >> but do you

the dow, s&p, nasdaq, all trading higher. aps after these averages traded around earlier today. the nasdaq has been flirting with record highs all day. off pays a record lows ever so slightly. we will have to see whether or not the nasdaq can put in a record high. the s&p 500 may not be on pace for close to record highs right now. there is strength for the index. we have health care really helping the s&p 500 today. that does include unitedhealth group after an investment conference did erase the earnings view 5% above consensus .espite concerns we have the pharmaceutical company trading higher, and some are saying that president-elect donald trump saying that he will nominate tom price for the position of secretary of health and human services, a well-known oh -- well-known obamacare opponent, and this is giving the health care sector a bit of a lift. technology shares not just the nasdaq but also the s&p 500, alphabet and microsoft higher. our team was told earlier there is not anything specific there thewhat we have going o

and the nasdaq locking in its sixth straight day of losses for the first time since april. you have the vix soaring, gold jumping, high yield down in the last six and small cap stocks getting hit the hardest. so are election fears finally taking their toll on the market? are things only going to get worse? ahead of next tuesday? guy. >> things only going to get worse. that implies the market continues to sell off. i'm not convinced it's election fears. we're going to have that conversation. to me, more technicals. why is it technicals? i'll give a quick example. last night you've got great data in china, right? great data. what i thought was pretty good data here in the united states this morning. we would have rallied a month and a half, two months ago, in a

s&phe dow pullback but the 500 better and the nasdaq bouncing back. a flipping today but we have seen some remarkable to virgins over the past few days -- to virgins after the past few days the s&p and nasdaq gaining substantially less, this outperformance of the very largest caps off and the old economy companies of the dow but gance which test a come up 8% in that time, domestically the smallest domestically oriented companies have done the best followed by the large old economy companies and the s&p and the nasdaq trailing that. banks today and how they are diverging with the five-day performance, they are trading lower today which is a pullback from what may have been doing over the past few days. guggenheim downgrading bank of america and wells fargo, wells fargo going to a cell, the call based largely on dilation, wells fargo is the worst performance of these banks. the five-day chart, it looks quite different with all of the backs higher, citigroup fairy the least best of these. bank of america the best up 17% in that time. that leads you to a v

the new york stock exchange and nasdaq will close at 1:00 p.m. eastern time. e bond market closes at 2:00 p.m. eastern. commodity and currency markets observing the holiday and have a shortened session. here's where futures are trading. closed on wednesday at another record high. it looks like the gains are continuing. earlier this morning the futures perking up. dow futures up 60 points. higher yields as well. we reached 242 i believe it was earlier in the week. that was the highest level in years. >> the dollar particularly strong on wednesday. we just pulled back a bit over the last couple sessions for the dollar. the u.s. equity market, a record close for the dow. intraday, we didn't hit a day, the nasdaq pulled back a fraction. european trade today is a bit soft. well, basically flat now. germany, france, italy eking out gains. ftse 100 and spain just behind. asian trade was decent. we had some data out of japan showing improvement in cpi, despite the fact it was still a deflation headline print. the nikkei is, in fact, off the highs today. just showing ho

we look at why the nasdaq is declining. it's not participating even as the dow soars. >> the key question is who will be in donald trump's cabinet? mr. trump's advisers are considering jamie dimon for that job. >> jamie, if you would like to call and confirm or deny we would love to hear from you. >> plus mr. trump's energy plan. he said he would cut regulations and revise the coal country. we have the ceo of conoco phillips with us to tell us how he is preparing for the new administration. i will be interested to hear from ryan lance. >> live from the dealbook conference interviewing. we look forward to those interviews. goldman on a tremendous run as there is lots of talk about repealing dodd-frank and other factors. comments earlier have chipotle up. >> chipotle is benefitting there. let's start with the dow's run into record territory. bob pisani has been tracking the action. >> the dow is outperforming everything up 1.4%. very unusual because the dow has a lot of stocks benefitting from lower regulations and the infrast

the nasdaq up slightly. e dow is on pace to snap a seven-day winning streak, weighing on the dow and s&p 500 are the financials you had mentioned. when we look at an s&p 500 bank index, it's down 1.7%, a dramatic drop there. on pace for its worst, first drop in 8 days. let's of weakness within the financials. we go micro and look at the individual stocks, lots of weakness there. citigroup, wells fargo, all lower. some of this could be taking a breather from last week's big rally. talking about valuation. when we going to the bloomberg and look at a chart of the xls, which had its best week last week and quite some time, we are looking at a chart provided to us by mkm partners. this is g #btv 4872. he was kind enough to share it with us last week. that in fact has happened, you can see that over here. the xls is above the 20 15th highs. is outperforming the s&p 500 over the last three years. it has snapped a downtrend. we reached back out to him today to find out whether or not he thought this breakout was leg

the nasdaq is. e than 2%. >> microsoft and intels all outperforming the market. >> everybody's favorite proxy for fortunes of donald trump, the mexican peso and that has rallied today. >> invert the chart. >> so everything rallied today. i want to note it is a very strong day for the financials. we had new highs. only group of new highs were financials. all with 52-week highs. yields started to move up. pharmaceuticals was a tougher one. i think divided house, divided leadership was the argument people made. >> we'll see you later. what an interesting day as we head into election day. stay tuned now to hour number two of "closing bell" with kelly evans and company. see you tomorrow, kelly. >>> thank you, bill. welcome to "closing bell." i'm kelly evans a strong rally across wall street with the dow closing higher 369 points, a 2% gain. the s&p 500 nearly unwinding what we might call the comey trade closing around 2,131 to add 46 points. the nasdaq up nearly 2.4%, 119 point rally to 5,166 so undoing p

how's that going to affect the nasdaq? ena: to the extent we do have a republican administration and they show a pro-business orientation, that does tend to come with what i will call balance in regulation. one area that has impacted our industry has been dodd-frank and while there are a lot of good safeguards that have been put in place coming from dodd-frank, there has been unintended consequences. notably banks are no longer in a position to offer much-needed liquidity in some of the markets where we operate. we would like to see the opportunity for dodd-frank to be modified for banks to take responsible risk taking to provide that really important liquidity. betty: modified or retracted? what would you prefer? adena: we have to recognize an enormous amount of work went into the creation of dodd-frank and there's a lot of reason for it. we recognize the history we come from but we know whenever you put in new regulation, there are unintended consequences that come with it. how can we make sure we are modifying the regula

the nasdaq fell 42 points. kcbs reporter jason brooks reports on why the nasdaq is a little worried about a trump white house.>> reporter: the nasdaq lost ground with heavy selling a big tech firms like apple, google, facebook, microsoft and amazon. silicon valley may have gained an enemy and a republican white house and republican-controlled congress. trump is called for a boycott of apple products after the company refused to help the fbi access a terrorist iphone. he is accused the ceo of amazon of buying the unit -- the washington post to use the papers to influence policy -- politicians in washington, dc to get favorable tax rates for e-commerce. there is uncertainty about tech companies and their future with a trump white house.>> reporter: shares of amazon fell 4% annapolis down 3%. -- and apple is down 3%. >>> the only way to move forward is to move forward together. our company is open to all and we celebrate the diversity of our team. regardless of what they look like, where they come from, who they w

and then you saw the nasdaq. ybody is chasing that last return especially as we get towards the end of the year. it's hard to believe as i can keep continuing. we are looking at it up slightly. i think it was capped perhaps by a much stronger dollar today. anything happens here. they are going back to their price manipulation. and i do think we rally into the motet meeting. we are coming off thankfully in crude oil from that. i think the rally up. also last week were talking about natural gas. has rallied now quite a bit. i think we have a little bit more to go. i think that is everything. be sure to watch wall street week. they are talking to legendary short seller. he is so big on what he hates right now. he's the actual seller you need to hear from. what's next for the economy and your money. we won't be right back. when it comes to healthcare, seconds can mean the difference between life and death. for partners in health, time is life. we have 18,000 people around the world. the microsoft cloud helps our entir

the s&p and the nasdaq is now turned lower. look at the s&p on intraday us and you will be that trajectory is lower. happening allis of zero line. a lot of it has to do with technology, the so-called stocks , a lot of these are big winners going into the election. many of them this year have been climbing and many have hit record this year. all of them have but all of them are off sharply today. it is not clear exactly what is going on here. facebook, amazon, all of them down from 3% to 6% here. another weight we the on the overall averages is utilities. this has not changed. technology stocks rolled over compared with yesterday. down but not as much. utilities have been week for two straight sessions. the s&p utilities index versus the s&p more broadly, slumping this down his inflows and outflows from the s&p utilities. etf. are outflows here. a couple of things are going on with utilities. investing in energy as a way of growth. this option is trump will not be as good for energy. ,he big increase in yields competition with th

the nasdaq more proudly -- broadly up 1/3 of 1%.ger banks, and this is the talk of regulation, from the president-elect and his team. come take a look at the commodity currencies and emerging-market currencies and european currencies. brent crude and wti are lower, but not by very much. a spike after russian comments to the effect that there might be a deal. look at yields. we will take a look at some yields at the moment. 30-year seeing some buying tod ay. let's begin with the dollar index. below that now, within 10 basis points of that high. yen, continuing to weaken today. 109.27. mexican peso, we will see what happens after tomorrow's rate m ove. let's look at bonds as well, the two year in the u.s., staying at 1%. oil unchanged right now. let's bring in courtney donohoe. courtney: a new survey shows that british voters who want what some experts are calling an impossible deal on brexit rate a largeg to a poll, majority of british voters want access to the european union and single markets and limits on the free movement of labo

the nasdaq up 0.7%. lower in the futures market this morning. let's look at the ten-year treasury note. it continued its march higher in terms of yield yesterday. doing the same again today. the ten-year yield, 2.326. the two-year note hit its highest level since early january yesterday. those yields keep ticking up. slightly interesting yesterday that the markets did react to janet yellen confirming that december was a possibility. that was pretty much priced in. >> i thought we knew that. >> we kind of knew t but still got a market reaction. >> strong wording saying it could be dangerous if they wait too long. let's look at what's going on in europe. we see a downbeat market across the board with the major european market indices. mining stocks are struggling over there. news out of volkswagen. in asia, mixed last we look. you can see the nikkei up 0.6%. this is the highest close in 11 months. a bit of a boost from the weaker yen. hang seng is higher, but still around that correction territ y territory. as for broader markets, let's look at oi

the nasdaq up by 0.2. ng flat to a little bit lower on track for more than 11% gains for the month. coming up on the show, tom mcclellan will tell us why the so-called trump rally may not last past inauguration day. joining the panel to talk about the market we have cnbc pro columnist michael santoli and joining us jeff davis. mike, the trading action today sort of flat on the major averages but beneath that the story of sector performance and under performance energy got crushed. >> energy was the outliar. i think the past two days you have actually seen the market kind of turn around and digest outside sector moves that we had. the overall market hovering right at those old highs. it reminds me a lot of the way we stood three weeks after post-brexit low. the market turned side ways with different groups. a little bit overbought. a little ahead perhaps but i think the market is kind of hanging in there and retaining most gains for now. >> let's put this on the record now. the nasdaq had an intraday all-tim

the nasdaq finally snapped back. have sam zell, the -- i've been following this guy's year for -- i won't say for how long. it's older than a lot of our anchors. like 30 years. the grave dancer. when i was a stockbroker i used to buy some of the companies he was involved with for clients. he's amazing. very outspoken. says whatever is on his mind. i don't think he has to answer to anyone for anything. as a result, he will tell you what he thinks. am i right or am i right? >> yes. >> also today, michelle caruso-cabrera will be appearing on "squawk box." i could mention senator bob corker, governor scott walker, senator mark warner, holeman jenkins, i could, i could mention those individuals, they will all be on the show as well talking about the transition, but mcc will be here. >> you could, you should, and you did. great stuff. we look forward to that on "squawk box" in about ten minutes time. >>> coming up, the s&p 500 breaking a two-session losing streak. what comes up next? also tech taking part in the post-elect

how's that going to affect the nasdaq? he extent we do have a republican administration and they show a pro-business orientation, that does tend to come with what i will call balance in regulation. has impacted our industry has been dodd-frank and while there are a lot of good safeguards that have been put in place coming from dodd-frank, there has been unintended consequences. notably banks are no longer in a position to offer much-needed liquidity in some of the markets where we operate. we would like to see the opportunity for dodd-frank to be modified for banks to take responsible risk taking to provide that really important liquidity. betty: modified or retracted? adena: we have to recognize an enormous amount of work went into the creation of. frank and there's a lot of reason for it. we recognize the history we come from but we know whenever you put in new regulation, there are unintended consequences that come with it. how can we make sure we are modifying the regulation to make sure it is having the impact you want

record highs all around except for the dow, the s&p and the nasdaq. not talking massive games -- massive gains, but yet another record high. this is bloomberg. ♪ scarlet: we are moments away from the closing bell. another day, another record high for u.s. talk. -- u.s. stocks. the nasdaq at an all-time best and don't forget the russell 2000, a new high as well. i'm scarlet fu. want to welcome all of our viewers who are tuning in live on twitter. you can watch our closing bell coverage on twitter every week day from 4:00 until 5:00 p.m. eastern time. scarlet: we begin with our market minute. a record high for a second straight day for all four indexes. yet when you look at how trading volume fared, it dropped certainly from the 20 day average. the dow looking at a 14% rock, the s&p 500 off by about 9%. -- the dow looking at a 14% drop. most of the sectors of today, health care and energy are the two in the red. i don't know what that means necessarily. consumer discretionary, real estate doing well as well. a closerlet's take look at health care. there

what is interesting is the divergence of the nasdaq, finishing lower yesterday. as for the sector action within 500, attic bit of red. -- we are at a bit of red. markets close with yields moving up so much this week. looking atom we are health care, a little bit of a reversal. the rally has been a big one. we take a look at u.s. market cap function. it reflects the best week for the dow since 2011. the best week for the s&p 500 since 2014. we are seeing slides in oil and car -- oil and copper. this could be iran saying that not only are they going to join some supply opec deal, but they 'sve reported record output international sanctions have lifted. >> you have the real estate, the utilities. those sectors are falling for they've all benefited in recent days as they have in the united states. we are on track for the biggest weekly gain. this is global stocks, this is global bond. the white line, as measured by the bloomberg world exchange market capitalize nation, is the capitalize nation of the global it has lost via the over run -- over $1 trillion in value. $1

but piano 7.5 and the nasdaq by three points. similar performance over the last two days in europe. a strong rally yesterday around 1.5% but we're treading water so all eyes on the result and waiting for that. the ftse 100 the only one across continental europe. asia was more soft. export data out of china but it was relatively data than the export data and hasn't weighed on markets too significantly. hong kong and shy hangu-- shang up .5%. >> oil is on the rise. that could also be supporting stocks. wti up .3 this morning but as you can see above that critical $45 barrel level. brent 3647 up approximate.5%. as for the 10 year treasury note yield buying of stocks, selling of bonds has been the mantra this week. the tenure above 18el 1. it's flattish in today's session. it's been moving on risk asset. less on fed ex peckations at this point. perhaps after the election back to that and the economic data and the earnings that have better better than expected. as for the dollar this is the number one place to go as we get the results

both the nasdaq for tenth and sixth record closing of the year. here are names leading the nasdaq. now we get monster beverage as well, facebook which has a huge buy-back plan. let's flip it to winners. headwaters, micro circuits, some you may not know. cme group, right in front of our cameras on what could be one for the history books, gentlemen, great to see you. scott, i want to start with you, first is this trump rally continue to go steam ahead or something simpler and that's better earnings on the way as we head into a more upbeat holiday consumer? >> i think you have a little bit of everything. you named four sectors, that means rally is broad and lots of participation, that means it can continue. last year it was led by six or seven names. you have financials participating and tech playing catch-up. i do think it continues. liz: let me jump to luke. it's propelling the trump train. you don't propel a trump train, a rocket maybe. either way we have a very fast market at the moment, a lot has to do with energy. is it belief that opec will cut deal, let our viewers know? >> th

the nasdaq is the biggest loser. let's head to abigail doolittle.ongest losing streak since the end of may. it is on pace for its worst decline in three weeks and lowest level in seven weeks to close. for nasdaq.dent much appears to be driven by technology. it is not entirely clear was behind this trading action. could be followthrough that some investors consider to be disappointing. down five days in a row. we reached out to sean, who has really been good on this. he is surprised by the degree of in the country is adamant returning to topline growth. overall, this should help support the stock. something interesting has happened today. itsstock dropped back below moving average. the last time, it bounced right back off of this. there is a reason to think we could see a continued weakness here in apple perhaps down to the 200 day moving average. the stock trading at a discount right0 but they support around 103 and 104. >> facebook off by 1.3%. what are you hearing? >> facebook put up tremendous quarter after tremendous quarter. they beat nine out

for the major averages, the nasdaq up. with much of the same trends we have seen yesterday, three today, look at the dow movers. some of the best percentage examples. will see we got jpmorgan rising. we have jpmorgan rising to a record today. the banks gaining in this environment as the yield curve is widening. the profitability widening along with that. pfizer having its best two day gain from speculation that there will be a change to health care regulations. home depot rose along with competitor lowe's even though infrastructure spending would be presumably more on the commercial level. home depot rising anyway and ibm also gaining. we also have a weakness in big tech. the s&p 500 banking index, we have been watching that as well. record, time we hit a it looked like it was rising to that level once again on this widening of the yield curve. assets, weeeing risk seeing the safety trade come off today. we have values in gold at the top, the vix is going down and you also have the dollar gaining versus the yen. i want to g

and the nasdaq off by about a percent. oil is a big part of the story but not talked quite as much in the scheme of the overall stock market. brent crude futures off by 23 cents here. wti crude off by a full percent, $44.23. >>> it's singles day in china, one of the largest online shopping days in the world. the alibaba-led event is estimated to generate $20 billion in sales. sherri kang joins us from outside alibaba headquarters in shenzhen. this is a massive day for alibaba. how much are we talking about this time around? >> dominic, we are talking about 14.5 billion u.s. dollars, we are counting. we have six more hours to go until singles day. >> well, we've lost the shot from shenzhen, as you can see there. we'll get back to chery as we can. back to the broader markets. investors are piling into the dollar. it is strengthening against trading partners like the yuan, the mexican peso and bigger developed currencies like the euro and japanese yen. good morning, derrick. >> good morning. >> why is the dollar strengthening

the nasdaq is

he joins us here at the nasdaq. peter, good to see you. >> nice to be back. >> nice to have you. >> are you willing to throw in the towel a little bit here? >> not at all. i'm one of the few people who wasn't sfrifd by trump winning. and you have to remember, why did he win? >> so did you position for that and were you one of the few people who predicted the market's reaction correctly? >> very few people thought he would win. >> you did. were you positioning yourself prior to the election? >> i've been positioned for a long way. i didn't change based on what i thought would happen in the election. my point is, the reason he won, the reason so many people voted for him, was because the economy, the recovery, is an illusion. so many people who invest have bought into this recovery narrative, the fed bought into it, certainly the media, and president obama. but the voters knew there was no recovery. but just electing donald trump president doesn't solve all of the economic problems that caused so many people to vote fo

the dow is also joined bethe s&p 500, nasdaq. ally, small-cap still out performing but good enough to notch all-time highs if we close this way. >> the market cap of the s&p 500 now tops $20 trillion. huge gains being made across the board for stockholders. dow could close above 19 k for first time, and since donald trump was elected it and the nasdaq have seen gains up. 2.7% figure notable because only two other newly elected presidents have seen a bigger gain, reagan was 3.7% and nixon. >> what will happen between now and inauguration. paul hickey joins us to talk about it. good to have you here. i know you crunched a bunch of numbers going back to 1932. we have plenty of elections in there, not much as strong as this one. what do the numbers tell you? >> unfortunately what the numbers tell you is that you can't read too much into this initial two-week reaction into what the market will do between now and election day or what you will see in the upcoming four years. it is interesting in the fact that trump is the first newly-ele

the nasdaq up 47 to 5,368. >>> the san francisco food delivery service muntry replaced ceo tran. raised millions from venture capital as well. this morning bloomberg reports the company needs more money and there's concern the service is making too much food, sam and laura, in its san francisco kitchen, more food than it can sell so it has to throw out thousands of meals. munchry says it does sometimes make too much food but tries to donate. bloomberg says between 2015 and 2016 munchery made either 600,000 dishes it did not sell. >> that many? >> they say it's like a restaurant, we have to make more than we actually deliver, but that's a lot of food. >> have to be able to preserve it at least. >> or figure out a good system of donating it, too. >> speaking of which, we'll talk about donations right now. there's time yet to donate ahead of the thanksgiving holiday. obviously just days away right now. bay area food shelters still need more turkeys to feed as many people as possible this holiday season. you see all those folks lining up and sorting turkeys at sacred heart at communi

and the nasdaq up 78. this is triggered by the fbi confirming yesterday via another letter from james comey to congress that he sees no criminal evidence in the latest batch of e-mails. and that investigation for now is closed. you're also seeing reaction in the currency market. the dollar is stronger against major currencies like the euro, the pound and the yen. we saw the reverse last week as trump momentum soared. but the big mover is the mexican peso. dollar weaker, mexican peso stronger, nearly a 2% move higher. this has been the ultimate u.s. election barometer. the peso has been slammed as trump gained momentum and now it's giving back a big portion this morning. keep an eye on oil. it was weaker at 9.5% decline for wti. worst week for oil since january. it's bouncing back a bit but still wti is below $45 a barrel up 1.5%. brent is up 1%, just above $46 a barrel. >>> thank you. now politics front and center for the markets this week as american voters head to the polls tomorrow. joining us from londo