the nasdaq under pressure today as the dow soars to new highs. >>> decision day for opec. oil ministers expected to make a major production announcement. we're live at the cartel's meeting in vienna. >>> and is bitcoin a bubble. the big fears brewing over the hottest thing on wall street it's thursday, november 30, 2017, "worldwide exchange" begins right now ♪ >>> good morning a warm welcome to "worldwide exchange" on cnbc, i'm wilfred frost. let's get straight to the market picture coming off that selloff for the nasdaq yesterday down 1.3%. it dipped lower in the afternoon, frankly it was pretty soft all day the dow was up half a percent. the s&p was flat, but within the s&p, some very big sector divergence tech, as we expected, down the most it was down 3% telecoms up 3% a big swing there. to be fair, telecoms up largely because of at&t's gains yesterday coming off more positive comments from ceo randall stephenson to becky quick in terms of his hopes of his side winning that ongoing dispute about whether or not to take over time warner. tech very much the laggard yester

a big slide and pulling on the nasdaq significant and the nasdaq 100. let's look at volatility. 3506.s a ratio between the nasdaq 100, the measure of volatility for tech stocks in the s&p 500 vix. it is fighting to highs last seen in june. highs last seen in june when we had a tech selloff out of nowhere. or -- excuse me, early 2007. lots of volatility for tech stocks but the overall market is low. interesting to see whether this is a tell of more volatility. take,an had a different saying this is a rotation out of growth into values. one of the drivers is the 10 year yield, rising rates, moving higher as janet yellen talked about the gradual rate path that will likely be held by the fed. this is helping some of the banks. red for tech stocks and banks rallying, helping to offset the weakness. s&p 500 down modestly and the dow, actually up on the day. vonnie: thank you, abigail doolittle. let's get the highlights from janet yellen's testimony before the joint economic committee which may have been her last congressional testimony as fed chair. michael m

yours. >>> here's what we call the heat map of the nasdaq 100. m surprised there's that much green. right. for the decline we are seeing today of 1.8%. i was just noting that the qqq as the etf, the trades on the nasdaq, based on the nasdaq 100 is seeing more than double it's 30-day average volume. it's traded 64 million shares almost when the average is 26 million. and this big, big down day that's the biggest volume day they've had and the biggest decline since august 17th. go figure. >> speaking of transfers in american airlines computer glitch will have a big impact on holiday travel plans phil has more. what's happening here, phil? >> all airlines use a program to schedule pilots, weeks, weeks with, weeks in advance well, there was a computer glitch with the program for american airlines and as a result, there are no pilots scheduled for a variety of flights over the holiday season. one of the most busiest times for the airline. well the airline says it is a computer glitch. they are rectifying the situation and as part of getting pilots for

that's the blue line, the white line is the nasdaq itself. you can see the breath started to roll over before the price did. something to continue to watch. we should mention the breath rolled over just briefly last month and then came back up along with the price of the nasdaq composite. they could be a moving indicator. in terms of some of the underperformers within the nasdaq today, we have frontier communications, after some analysts commentary from make america merrill lynch that said the company has substantial towers of debt and the equity story is the company is a new -- in new jeopardy. they are talking about their recently approved breast cancer therapy and began shipments to wholesalers at the end of july and reported third-quarter revenue from initial sales of about $6 million erie analysts are largely positive but hints that perhaps other analysts have higher estimates, shares down 13.5% and the finish line falling on analysts commentary as well, in this case calendar downgrading the stock to an and say in a note that cash burn wi

and the tech sector. nasdaq the s&p and dow up 0.5%, 0.6%. within the s&p, tech outperformed and telcos underperformed this morning, we are pretty much split around the flat line the dow slightly higher. the s&p and nasdaq lower ten-year treasury note for you, hasn't moved that much we have seen an rongoing flattening of the yield curve. yesterday the two-year hit a why not seen since 2008, while the 30-year hit a low not seen since september. so we are continuing to see that flattening of the yield curve at the moment asian equities for you looking at just over a half percent of gains for most of the major markets. in europe which saw about a half percent of gains yesterday, we have a mixed picture today a bit of softness for germany while france is fractionally higher. the uk is holding on to a quarter percent gain we are awaiting for the budget from philip hammond today. oil prices had a bounce yesterday. 0.7% big bounce overnight of 1.8% 57.9 is the price of wti the dollar did rise a little bit yesterday. th

the nasdaq 16. the s&p four points.d see the dollar off about 0.4% yesterday that came against the euro which started down, recovered, then ended down a half percent based on developments in german politics no clear government being formed coalition talked have broken down chancellor merkel saying she would prefer fresh elections than governing with a minority government the euro calm today as it the broader euro pairings. oil prices slipped 0.8% yesterday. the fourth negative session in five bouncing back today. >>> cbs has suspended charlie rose and pbs is pulling his show this comes after the "washington post" reported eight women accused the tv host of sexual harassment rose apologized for his behavior while maintaining that some of the allegations are inaccurate >>> to washington news, there will be some light moments at the white house today when two turkeys will receive president trump's thanksgiving pardon. it's the 70th anniversary of this tradition tracie potts has a look at today's agenda, but not with either

the nasdaq up by 7 yesterday we saw the dow, the s&p 500, the nasdaq setting record intraday highs beforeded as we got to the close. the s&p 500 was down for the second time in three sessions the nasdaq lower for the

the nasdaq fell, given the selloff in the f.a.n.g. stocks specifically, the tech stocks overall, seeing their biggest one-day drop in five months. the nasdaq posting the biggest one-day drop in three months some of the froth is coming out in the market and also impacting semiconductor stocks elsewhere we're seeing moderate gains here november wasn't a great month for european equity markets. we saw profit taking we are on track for a fall of 1.7% or so for the stoxx 600 the ftse 100 once again is down by a third of a percent. why? that's the sterling impact given that we've seen rise in pound sterling and we've seen break through in the brexit talks. the xetra dax is up by a half of a percent. you have technology down by a half of a percent. banks doing better, two-thirds of a percent to the upside utilities and autos showing outperformance. >>> risks to eurozone financial stability remain contained that's the view from the latest financial stability report, but the central bank warned of large asset price corrections amid increased r

>>> rally on, stock eggs pointing to another higher open on wall street with the dow, nasdaq and s&p 500 sitting at record highs on the front lines, president trump on north korea's doorstep this morning he's meeting with the president of south korea we've got a live report from seoul coming up. >>> and big buzz in the media world has disney reportedly held talk toes buy most of the 21st century fox. we'll have the latest on that coming up. it's tuesday, november 7, 2017 "worldwide exchange" begins right now. good morning and a very warm welcome to "worldwide exchange." let's get straight to the global markets the this morning futures pointing higher as you can see behind me. this nothing too significant at this hour, but a nice jump for the dow there. 40 points or so. only a point or so of gains for the s&p 500 and the nasdaq it comes off a day of gains, but very, very slight indeed for the dow and the s&p. the nasdaq led the charge, but it itself was only .3% higher or so ten-year treasury note for you that has seen yields continue to slip over past the past day or so we're up again

the nasdaq slightly lower. sterday we saw leadership from the dow and the s&p, both up about a percent. the nasdaq up about a half percent. the market cheering developments on tax reform, also some comments as well about possible deregulation or not increasing regulation from the new fed chair, jay powell. that allowed the banks to lead the market higher yesterday. oil prices did slip yesterday, 0.5% slipping again today, 0.8%, still 57.5 for wti standing relative to where we were some months ago >>> opec ministers kicking off a closely watched meeting in vienna steve sedgwick is there and has the latest >> good morning. yes, very interesting meeting as ever because if we take a step back they had a very, very good year. the policy which came in one year ago to the day has worked beautifully. they have the oil prices up significantly over 30% they have a six handle on the overall price of the worldwide market, which is brent and they're happy with things as they are but are storm clouds brewing because of dissen

the nasdaq did end with a positive gainfor the week. in asia let's take a look at this point the market's closed the nikkei ended down by .6 of a percent. hang seng and shanghai were slightly higher. in europe this morning in some of the early trading as we look at the story of the german coalition bid failing, you still see some green arrows

s&pail: we have the dow, 500, and the nasdaq of higher. a big rally, the dow up five days in a row, the first time that has happened since the beginning of november. the best five-based rate for the dow since april. the bulls are out, even for the nasdaq. yesterday we had a mixed session. .he nasdaq yesterday down 1.3% there is follow through. investors are buying the dip. , up 6%.transfer the dow transport right now on pays for the best week since 2011. let's break this down with the airlines, american airlines, united, delta all trading sharply higher. behind this, a note from an analyst at ubs talking about the measure of revenue within the industry is likely to go up. there is strong seasonal demand. that could be a piece of what is happening with american airlines. an issue with a shortage of pilots for their airplanes and stronger than anticipated for demand. breaking down the s&p 500 rallied, all green. this is a great way to see what is happening sector-wise. all 11 sectors are trading sharply higher. energy had been higher, the bes

so the nasdaq with a healthy gain of almost 1%. look at the faang stocks they're all in record territory right now. last week, we highlighted amazon after those stellar earnings, and this week it's all about apple. facebook turned in big numbers they're just off their highs right now. netflix and google all doing well right now the ten-year yield, we've highlighted this week at the yield curve has flattened. it's the flattest it's been in about ten years and we get the nomination now of jay powell to be the new federal reserve chairman dealing with the issue of trying to raise interest rates. the fed is selling off its balance sheet. they did $6 billion in sales last week. the biggest day they've done in about five years and the price of oil, that's gone up to a two-year high right now. it's around $55 a barrel, bob pisani you know what that means for the price of gasoline. so everybody, here's my tip for the day, go out and buy some gas. this weekend fill up the tank. >> gasoline up a lot more than oil was in september due to the h

hammering the nasdaq, but his tax refund to blame for the selloff?om on "fbn:am." -- more to come on "fbn:am." ♪h they really appreciate the military family, and it really shows. we've got auto insurance, homeowners insurance. had an accident with a vehicle, i actually called usaa before we called the police. usaa was there hands-on very quick very prompt. i feel like we're being handled as people that actually have a genuine need. we're the webber family and we are usaa members for life. usaa, get your insurance quote today. lauren: welcome back. 542 this morning. john conyers reportedly will not seek reelection next year because of sexual harassment charges by former staffers. sources close to conyers that he plans to formally announce his retirement in january. meanwhile the house yesterday passing a new rule requiring all members to undergo mandatory sexual harassment prevention training. minnesota public radio and e-mail contracts with posed garrison keillor over misconduct allegations that he did put his hand up a woman's shirt as he tried to c

the nasdaq up 7 points the dow 6. s&p up about 1.5%.didn't see that much movement last week compared to prior weeks, but in general it's been a similar theme over the last two or three weeks, and that is a very flattening yield curve. it's going up and longer coming down on be the ten year at 2.35% this morning. >> if we pivot to asia where stocks ended lower specifically in china down nearly 1%, this after notching its biggest one day fall in 17 months on thursday, a lot of traders are attributing this to fears in the bond market, the fact bond yields climbing above 4% in china last week, so clearly a situation that global investors are paying attention to. hang seng down .6 of a percent and the nikkei which has really been on a tear over the past two months slightly lower today but extending the losses from last week some of that having to do with a stronger yen today meantime, take a look at europe. early trade there. you can see the stocks are not being impacted by what happened in asia. right now we are higher across the board. fre

russell hanging on to a small gain the nasdaq, too. sla shares, now they're up just 40% this year billionaire investor ron baron n says the stock has nowhere to go but up since here. >>> tesla's gains this year are peanuts compared to alibaba, up more than 110% we'll find out if now is the atta se ofs.prit th's later on "closing bell. ur ? yeah, i got some financial guidance a while ago. how'd that go? he kept spelling my name with an 'i' but it's bryan with a 'y.' yeah, since birth. that drives me crazy. yes. it's on all your email. yes. they should know this? yeah. the guy was my brother-in-law. that's ridiculous. well, i happen to know some people. do they listen? what? they're amazing listeners. nice. guidance from professionals who take their time to get to know you. there was an old woman who lived in a shoe. she had so many children she had to buy lots of groceries. while she was shopping for organic fruits and veggies, burglars broke into her shoe. they stole her kids' mountain bikes and tablets along with her new juice press. l

the s&p is up 22 the nasdaq is up 91. the russell is up 22 points. up 1.5% today. >>> up next, liberty media chairman john malone sitting down for an exclusive interview with cnbc today. we'll tell you what the media industry veteran said about consolidation in the space and which company could be the next takeout target. >>> plus billionaire nelson peltz appears to have scored a victory to win a seat on procter & gamble's board after a recount found he had the most votes and by a very slim plarnmargin. >>> insiders know what's likely tr come next a ip to the snick pit. we' we'll explain what that means when the "closing bell" returns. win an uncertain world?k predictable income pgim sees alpha in real assets. like agriculture to feed the world. and energy to fuel its growth. real estate such as e-commerce warehouses. and private debt to finance transportation and infrastructure. building blocks of strategies to pursue consistent returns over time from over $120 billion dollars in real assets. partner with pgim. the global investment management busin

. >> live from the nasdaq market side overlooking new york city's times square, tonight on "fast," amazon's retail mania, another all time high as the company is now worth nearly $600 billion. the history suggests december could be a cruel month we'll explain what we mean you know what goes with great turkey and stuffing? bitcoin, of course it is the rally that just won't quit the crypto currency surging toward $10,000 off the holiday week and he is the man who said bitcoin would double to 10,000, back in october. right here on "fast money. mike novogratz is back he's here exclusively. but, first, we start off with breaking news, the embargo lifting now on the fed chair nominee jerome powell's testimony ahead of his confirmation hearing tomorrow. let's get to steve liesman with the details. >> thank you very much jerome powell, the fed chairman nominee, nominated earlier this month by president trump, will say in testimony before senate banking tomorrow he expects rates to rise, quote, somewhat further and the balance sheet to gradually shrink he pledges to preserve the fed's independent no

increased warnings that the .urrency is in an asset bubble the nasdaq plans to introduce bitcoin futurest year. coming up, arianna huffington talks about raising money for a startup, uber's turnaround and the sexual harassment scandals. this is bloomberg. ♪ ♪ ♪ uber's losses grew bigger in the third quarter, losing almost $1.5 billion. it is trying to fend off competition globally, but is facing more legal challenges and regulatory scrutiny. member defended the company, saying it conducted a full investigation into the recent hack. thealked about uber and sexual harassment scandals with arianna huffington. we began our discussion on the thrivefunding round at in the next phase for the start up. year spend the first behaviorour ip, change, for ways, micro steps, and with new funding we can science-based, offerings for corporations and consumers to help them reduce the stress and burnout in their life while improving productivity. the heart is this fact which is science-based that well-being and performance are tied together. they rise and fall together. theycompanies realize that will con

and the nasdaq would open down 32 bucking the trend for the nasdaq of late. as u.s.kets continue this sideways trend as they're watching tax reform as well as earnings data. in oil we're seeing a selloff yet again. look at where wti is down more than 1% as well as brent. nat gas is holding declines of a third of a percent following reports on supply and a report we got from steve sedgwick and the ten-year note. we've seen this basic stagnation in yields in the ten-year. 2.4% is the level of resistance for the ten-year we're sitting at 2.34. the cpi data will be watched closely. again, tax reform. >> i think that's played into the fact that we've seen the yield curve slip a bit we were up to 2.45 two, three weeks ago. so the ten-year slipped. at the same time the two-year note hit highs, fractionally below that we have not seen for a couple of years. the yield curve has flattened significantly. let's look at equities around the rest of the world. asia is markedly lower today it has had a grade run of late it paints that risk-off sentiment we're seeing around the world

and when you do that, you don't chase the pace of tomorrow. you set it. nasdaq. ite tomorrow. >>> keeping our eye on stocks here we're looking at a 174-point gain in the dow, inching closer. there we go, record high record high for the russell 2000, for the nasdaq, as well. pretty broad based rally, technology in the lead, 1% gain for the nasdaq, but still signs of strength all over the place, including in health care apple is the biggest winner in the dow. only losers are walmart and nike by just a bit, but walmart has had a pretty strong run lately >> all right and retailers going to be a big part of that rally if it continues. they are gearing up for the post thanksgiving biggest shopping weekend of the year and in the age of amazon, the battle for e-commerce customers, williams-sonoma is making a big bet on augmented reality announcing plans to buy a 3d scanning company joining us now to explain exclusively, williams-sonoma president and ceo laura alber. laura, welcome >> thank you, good morning >> so, good morning. i'm curious on the impact you expect augment

today was a day you have to fear the divergence between the nasdaq and small caps. there's strange stuff going on in the market and i think there's more to come >> the f.a.n.g. names, none of them is off their highs. there's a little bit of a pullback you look at something that's down 4, 5, $16 >> that implies that's going to be a further pullback. >> it implies that will be my next entry point i'm in multiples of these names, micron, amazon, microsoft. otherwise, this is just a little bit of, it's moving around, it's rotation we've talked about it all through 2017 suddenly you look at the financials, you start to look at the other names, health care stocks humana >> health care is a beast. >> united health care is another one, lifting everybody else with them as the financials are settling down a little bit, those are picking up i tell you what, i have never seen as much paper in the financials as i have over the last two or three trading days absolutely amazing how much paper we've seen in the options world. >> i shouldn't be spooked by this big decline in f.a.n.g.

yesterday we saw the nasdaq hit an intraday high during trading. ended up giving some of that back by the end of the session the dow and nasdaq ended higher. this morning there are a few givebacks. dow futures down by 14 points. s&p futures down by 4. nasdaq off by 10 points over fair value there's a lot of news today that will move these markets. we think it will be powell we'll get a tax plan today all of that in play. let's look at treasuries yesterday the ten-year yield dropped slightly this morning looking at 2.378% that's exactly where we closed yesterday. overnight in asia, the equity markets there, you will see the nikkei was up once again another half percent gain to a 21-year high a gain of 120 points hang seng down by a quarter percentage point in europe, this morning, with some of the early trading taking place, things are mixed. relatively flat for the cac and dax. ftse is up slightly. in italy, stocks are up by a half percentage point. things are flat in spain as well >> wow i'm prereading my -- this is long i don't know you may need

driving the nasdaq higher, u.s. companies reporting they added most workers in 7 months, consumer confidence also hitting highest level since december of 2000, this just in, breaking

the nasdaq up by 8 1/2 this is the last trading day of the month.e'll see what happens if we see another record today which we're likely to with the dow, it will be an eight straight month of gains for the dow and s&p 500. strugglest for the technology sector once again. let's look at what happened overnight in asia. you will see that the nikkei ended up by close to 0.6 points. stocks in china under pressure the hang seng down by 1.5 points the shanghai down by 0.6%. in europe, in the early trading, it looks like there are green arrows across the board. biggest gains from the major averages come out of germany where the dax is up almost by 0 0.8, the ftse up by a quarter percentage points. right now looking at crude oil prices opec and non-opec producers, ie russia, are expected to announce an extension of output cuts until 2018 a lot of concerns about that, whether there will be sticking points along the way that's why crude oil was under pressure yesterday things have picked up this morning with a gain of 1% for wti. up 53 cents to 57.82 we'll get

the nasdaq is up about 0.6%. n-year treasury note has recovered in the second half of the week in terms of the yield rising the price falling. we did fall to the low 2.3s earlier in the week. up to 2.36 now last friday we closed 2.4% >>> asian equities climbing for a second day following that rebound we saw on wall street. minor losses in china, that's been the story that's persisted this week following some disappointing data check out the bond-based index, moody's upgrading india's sovereign rating, including the largest state bank of india. >> we should mention in shanghai, the shenzhen index, the smaller cap index is down almost 5% this week. there's some feerars that the nw administration is clamping down on credit. the effect on smaller companies and the bond market in china some fears just raising a little bit about that ongoing question of how it deals with this high debt level as it clamps down on credit what happens, and just a bit of risk aversion happening at the moment >> the ten-year on the chinese d

the nasdaq was up 21, s&p gained five points today. for the week, all of the major indexes were higher. >>> today the price of domestic crude oil hit a two-year high after a spill knocked part of the keystone pipeline offline. >>> buybacks have been popular in recent years. but that trend may be turning. according to new data, companies in five years.g shares at some executives say that cash could be but the to better use on major capital expenditures than on retiring stock. repurchases in general can make shares more attractive to and thereby increasing earnin share. >>> coming up, kicking the tires is now one of the best times to? >>> a new report indicates that uber's ceo knew of the hack into the company's network months before it was disclosed. dara khosrowshahi was reportedly told about the breach shortly after taking the reins of the company in september. he apparently ordered an investigation which he wanted completed before going public. the hack, which affected 57 million accounts, happened in october of 2016, before dara khos

i'm carl quintanilla with sara eisen at post 9 of the new york stock exchange, john fortt is at the nasdaqtimes square where he'll sit down with stitch fix ceo katrina lake in a moment big story, 21st century fox and comcast moving in opposite directions comcast, the parent company of cnbc, has approached fox comcast focuses on the cable network, movie studio, partial stake in hulu, and perhaps more importantly the international assets it's not interested in fox news, fox business, and fox sports 1 here's what les moonves said last night about the news. >> i think we were all shocked about the initial announcement, which was on cnbc, about murdoch potentially selling some of his content assets and that's sort of surprised me, because we all envision rupert as somebody who's always expanding, and the reports from cnbc that they said, well, the talks had stopped and no surprise, you know, brian roberts stepped in there so, i think what it says is, content assets are unbelievably valuable >> also getting reports this morning on verizon's interest in parts of fox, as well. joining us to talk a

down about 38 points for the dow. nasdaq down 8. s&p down about 4 points. ek to date we are showing slight gains for these three main indices that hides another story that people are pointing to, the small cap decline. let's look at that very quickly. week to date, bouncing back a bit, but that decoupling from the big cap stocks has garnered attention. people suggesting does that show weakness in the economy to come? i think it's different from that it's fears of tax reform slipping, and we know those small caps are geared to that. to paint that picture further, let's look at banks. banks are also geared towards the tax reform they have slipped over the course of the week banks performance coming up now. bank of america has slipped during the course of the week. similar decline as we saw in the small caps extrapolating from the small cap decline, down 4% week to date bank of america. yields are slipping. they're geared to the yield curve. ten-year treasury down to 2.31 this morning that wildder yield slippage stoy happened down around the world the bund down

now at 2638 this morning the nasdaq bouncing back too up to 6849. vidual movers in had the s&p, kroger is up nearly 12% after its earnings this morning, l. brands up more than 6% weakness in the nasdaq today from the likes of liberty. you're not seeing some of the chip names yesterday that were such a problem. >> yesterday, the so-called fang complex took it on the chin. today stronger as you saw that vicious rotation at least for one day. and as we said with david earlier, some of those names that will be the biggest beneficiaries of potential tax cuts i don't want to call it reform anymore. i'm not sure it's reform. >> the name of the bill is the tax cuts and jobs act. >> it's more reformy than cutty. >> really? >> what is it reforming? >> once everybody tries to be a pass through. >> you're right. that's a whole other story over to bob pisani with more on the opening rally. >> and the path to 24,000 was only what, october 17th. we hit 23,000. let me show you the stocks that advanced since october 17th. remember, that was price weighted so the bigg

the nasdaq is falling 1.2%. david: get a check of the first word news.ace harshd russia criticism today at a medium of the -- meeting of the organization for the prohibition of chemical weapons. the watchdog continues to call out the countries following an investigation that blames the assad regime for a gas attack that killed about 100 people in april. nearly two months after hurricane maria pummeled puerto rico approximately 3000 people are still in shelters on the island. now fema is offering to airlift those victims from puerto rico to the united states to reach temporary housing. fema says it is providing transportation at the request of puerto rico's governor. fema is working to establish agreements with both florida and new york to accept the relocated survivors. the pastor of a small town texas church that was the site of a deadly massacre says the building will be demolished. he told leaders of the southern baptist convention today that it would be too painful to continue using the first baptist church of sutherland springs as a place to worship

it is basically like the nasdaq 100. cool that there is an index now so we can say how are the fangs doing. scarlet: you could argue that it marks the top of the market. abigail: that is a good call there. scarlet: those stocks maybe -- there is a little bit of risk-taking going on. very modest here. the dow up by 1/10 of 1%. s&p 500 gaining 2.5. the nasdaq is barely higher, but it is green right now. from new york, this is bloomberg. ♪ ♪ ♪ anchor: what did you miss? day -- for its first gain in three days, moving higher. [bell rings] forail: i am abigail in .ulia chatterley joe: we want to welcome you every day. let's begin with the markets. they finished in the green. the dow up by 20 points. no big economic data. i bring this up because we have pi in coming days come which will be critical, pacheco before those who feel they will raise rates -- in coming days, which will be critical, particularly for those who feel they will raise rates. let's dig beneath the surface. we are starting off with ge. my gosh. look at that.

we're also seeing a record intraday as well for the nasdaq 100. the small caps that are leading today. also here in record territory. led by those regional banks and financials that are moving higher and consumer names are strong as well with all of those positive headlines coming off of good -- good friday? black friday, let's say. and cyber monday take a look at some of these regional leaders here. the retailers that are leading here on the nasdaq ulta, o'reilly automotive, tractor supply they sell very different things, nonetheless. these have all been laggards for the year they're all down double digits if for the year. today they're leading, folks perhaps trying to bet on a turnaround on the consumers. we're getting the very strong numbers. interestingly, the biggest consumer name of them all, amaz amazon, today, not participating in the party down fractionally at the moment. amazon still very much a very big player and reporting that its big markdown on the echo dot and the firestick, both of those below $30 each, made them very big sellers.

the nasdaq being led by the fangs, amazon, apple. nasdaq is up .8%. we will be back with plenty more coming up. this is bloomberg. ♪ david: this is bloomberg markets: balance of power. shery: markets continue to move higher. we are seeing the dow gained 1.5%, the s&p 500 also up 1%. we are seeing the best day for the doubt this year. the s&p 500 gaining 19%, a 14 day -- the nasdaq is also gaining, .9%. let's get a check of the bloomberg first word news. shery, david, a lawyer for john conyers is rejecting calls from nancy pelosi. the houses top democrat calls for him to resign. him ofs -- have accused sexual harassment. he is currently hospitalized in detroit, denying the accusations. his attorney is arnold read. not up to nancy pelosi. nancy pelosi did not elect the congressman, and she sure as hell won't be the one to tell the congressman to leave. that decision will be completely up to the congressman. he has not thought about that. he is thinking about his health, getting well. >> he says conyers was specialized -- was hospitalized after feeling li

the nasdaq has been higher. now it's been down seven and three-quarter points. they are shopping for some bargains here. listen to the numbers. they compile the stuff predicting that 6.6 billion dollars in sales will be racked up on the web. the biggest u.s. online shopping day ever. the s&p retail index hitting a record high. it compiles the basket some of the biggest names. they are among the biggest winners. can you believe it. sears actually shining just a brightly here. is still a $3.90 sent stock. not everybody making money at this hour let's take a look at some of the retail misses. dick's sporting goods, all to beauty and targets all lower right now. we wait for the white house press briefing to begin we are going to talk about tax reform there some new there's some new developments within the last hour or two and even the last couple of minutes. only 15 legislative days. what is shaping up to be a critical week for the gop for any republican that feels like they have to have some legislative success which so far they do not. doesn't jump earlier meeting

the nasdaq is most interesting here. with the nasdaq you see a very dramatic comeback. it had been down more than 101 points, and we can see right now it's down 54. so the nasdaq has halved its losses. >>> the blue chip index is on track, we should tell you, to snap a five-day run of record closes, mcdonald's, united technologies and caterpillar are the top names that are weighing on most of the dow but definitely not all red on the screen. looks like the retail ice age is warming up for a bit today. at this hour macy's is jumping, up 11% after the department store delivered a pretty cheerful outlook for the holiday quarter. macy's right now is one of the leaders on the s&p 500. nordstrom, nordstrom investors are hoping for a macy's-like outcome. the struggling retailer will report results after the bell less than an hour from now. shares jumping in advance of that, up five and two-thirds percent. still, for the year nordstrom has gotten hit to the tube of 20% to the downside -- to the tune of 20% to the downside. >>> from washington to wall street, people watching ever

up eight today up 26 on the nasdaq. arkets now as the anticipation builds for tax reform joining us for that is anastasia, global investment strategist at jp morgan private bank here on set is sam stovall, chief investment strategist at cfra you work for that guy from ohio, the attorney -- that's different than the cf -- you are at cfra >> a company known for forensic accounting as well as the traditional wealth management research >> and what does all that expert teeds -- we'll get to you in just a minute, anastasia what does all that tell you about the current state of the equity markets i mean, it's a global synchronized economic expansion along with strong earnings with the fed that might be a tightening and with tax reform on the horizon have i got everything, or are there other things to think about too? >> you are absolutely right, but i think a lot of people do worry about tightening, and they say, oh, the fed is creating an environment something like edson gould used to talk about three steps and it's done, et c

the dow advanced 103 points to 23,940. nasdaq off 88, big loss there, more than 1%. the s&p fell almost a whole point. despite today's mixed market, investors want to know if the climb higher for stocks will continue over the month and into 2018. mike santoli [ bell ringing ] >> reporter: after stocks' latest surge, a record high into what's often one of the strongest months of the year, wall street is asking if a market melt-up is under way. a melt-up has no set definition but it usually describes a market where investors feast on good news and traders face the rally on the fear of missing out on the upside. the dow jones industrial ave is already up 20% this year. good news abounds. third quarter gdp growth is higher, corporate profits are up more than expected. consumer confidence hit a 17-year high. wall street has become captivated by the chances for a corporate tax cut. after going most of a year without pricing in the effects of a lower corporate tax rate, the market has placed more days in recent days on companies that will benefit most -- banks, smaller compa

slight fall for the nasdaq this morning we are looking at red across the screen. just slight. dow down 28 points nasdaq down 17 s&p down about 6 points. oil prices have been on a tear eventually they were up intraday yesterday, nicely above 55. you can see we've come back off that late yesterday, and this morning to 54.1 for wti crude. down 0.3% today. brent which had been up above $61 now down a bit today again, a bit last night. 60.25. sara >> busy day today. we'll get two important pieces of data. initial jobless claims and third quarter productivity they'll be released at 8:30 eastern. as for earnings, results from alibaba, aig, starbucks and dow dupont the big one to watch is apple. the tech giant reporting results after the bell not to mention the expected republican tax proposal set to be released this morning and the announcement officially of the next fed chairman >> which we look forward to. those apple earnings you mentioned. speaking of that, tim cook sat down with lester holt. cook addressed a wide range of topics from the new iphone x to social media's impact on

the nasdaq up by 7 yesterday we saw the dow, the s&p 500, the nasdaq setting record intraday highs beforey faded as we got to the close. the s&p 500 was down for the second time in three sessions the nasdaq lower for the first time in five sessions. let's see what happened overnight in asia. the flnikkeiclosed down. hang seng down by 5 points the shanghai composite up by a third of a percentage point. in europe in some early trading, looks like the dax is up by a third of a percentage point. the cac is up bay half py a half percentage point >>> finally check out crude oil prices crude oil yesterday down by 1.4% on some questions about u.s. supply and also doubts about whether russia is going to be cutting output whether it will stick with that. this morning down 1% >> couple big stories we're watching japan's softbank offering to purchase shares of uber at a valuation of only $28 billio 4$. that's a huge drop of the most recent valuation of $68 billion. uber's board approved the investment in october. it would expand the board and cut the influence of founder travis kalanick. big question

tyler drilled down on bitcoin's record run the nasdaq planning to launch bitcoin futures next year. >>> apple scrambling to fix a serious problem with its mac operating system the flaw let's anybody gain entry into a computer without using a password. >>> and fed chair janet yellen wrapping up testimony on capitol hill, saying the fed will continue with its path of gradual rate hikes but no clues as to what the fed will do in december. melissa? >> and i'm melissa lee we begin with markets, which were once again reaching new records. the dow getting to within 40 points of 24,000 today, but we're off those levels right now. wall street so-called fear index, the vix hitting its highest level in over a week bob pisani, what's important today is a very sharp rotation here >> yes a bunch of underperformers starting to do a little bit better and banks are coming to the floor here i just want to show you banks. remember yesterday's testimony, saying banks were sufficiently regulated. the banks moved up yesterday, all again today. these are new highs for the banks. underperformers we talked ab

for the week, the dow and s&p lower, the nasdaq inking out again. conference with fed chair janet yellen in frankfurt on tuesday. joe: then i look at nafta as negotiators meet to resume their talks. julia: third-quarter earnings coming in on thursday. scarlet: that does it for "what'd you miss?" julia: "bloomberg technology" is up next. joe: had a great weekend. this is bloomberg. -- have a great weekend. this is bloomberg. ♪ alisa: i'm alisa parenti in washington. you are watching "bloomberg technology the senate republican tax proposal set to be marked up on monday would cost $516 billion over a decade. according to the tax foundation, the plan would boost gdp to 3.7% in the long term and raise wages nearly 3%. the study also found the nation's highest earners would benefit the most on a static basis. finds alabamal gop candidate roy moore tied with democratic rival doug jones. the poll also finds 54% of people surveyed do not think roy moore should drop out. allegedly initiated a sexual encounter with a 14-year-old girl in 2012. was criticized for

we should also mention, the nasdaq underperforming today. technology stocks are under pressure in pretty decided fashion. one of the subsectors that is down is semiconductors. intel announcing it is starting a new graphics chip business. it has hired an executive who previously headed a unit advanced microdevices muscle analysts -- microdevices, so analysts are commenting. y, vonnie. vonnie: thank you for the update. shery: it is crunch time on capitol hill. the final day of markups, gop leaders still working to bring down the estimated $1.6 trillion cost. the senate just a few their own version of tax reform, which members have been hinting could look quite different. let's go to capitol hill with kevin cirilli. what we have heard from the house speaker saying the committee will work on a house tax bill later today, but we are already finding out that the senate tax bill will look quite different. what else do we know right now? kevin: details are still trickling in, shery, but there are differences between the house proposal in the senate p

the nasdaq is the outperform are here and the nasdaq 100 doing even better. you look at some of the best performers on an index point basis in the nasdaq 100, you have apple in the top spot following a strong earnings report. we will be digging more into that in a moment. those apple shares at a record, and a $900 billion valuation, and amazon shares reminding -- rising as well. starbucks is also making a turn around after its earnings to shares fell as comparable sales missed estimates, but they are still having optimism over the growth outlook, the shares and bouncing. julia: thank you, julie. let's dig deeper into apple as stores around the world were inundated today with customers trying to get their hands on the new iphone x. apple ceo tim cook personally helped open the doors and greet customers to wait in line for hours at the apple store in palo alto. joining us now is mark gurman. great have you with us. $1000 plus price tags are not turning -- deterring apple enthusiasts. mark: i'm sure you are surprised that i am not in line, giving our usual apple

the s&p down 2 the nasdaq down 3. roughly unchanged. bit of the air coming out of the rally, at least in the u.s. early in the futures trading. >> the markets have been on the defensive, hovering around the highs. not a lot of damage done, just stalled out. this market doesn't pull back, just sits a while. >> waiting on news of tax reform let's look at where the ten-year yield is that's where we could see movement happening today as the senate finance committee moves to a mark up the yield at 2.4%. again, not much movement there not much volatility. and perhaps that central banker speak could help move that market >> let's look overseas markets over there generally on the defensive, though not too dramatic we did get data out of china retail sales and industrial output coming in below expectation. nikkei in japan which has been jumpy is basically flat. hang seng down 0.1%. south korea below the flat line. in europe, markets were higher but they cooled a bit. they are still to the upside over there a bit of a bounce move the euro stocks i

we are live from the nasdaq market site in times square. m becky quick along with joe kernen and andrew ross sorkin. right now it's time for the global markets report. let's look at u.s. equity futures. yesterday a strong day forlt te markets, dow ended up about 187 points, thanks to walmart and cisco and the passage of the x version of the tax bill. nasdaq this morning is holding on to positive gains we'll see how this shapes up as we get closer to the opening bell overnight in asia, you can see the nikkei ended up 0.2% stocks were higher for the hang seng as well up about 0.6%. in shanghai come pposite down by a half percent. the dax is barely holding on, the others are negative. looking at crude oil prices, crude has been pulling back after the highs it hit, this morning up by 1.5% almost back to $56 a barrel. >>> we have some corporate news. comcast, the parent of this network, has approached 21st century fox expressed in buying a substantial piece of the media company. it would be an all stock offer it would focus on fox's xabl ca netwo

the dow up 32 points that puts us in record territory. nasdaq's higher. >> that was helped by disney, by the way. the 2% pop added 15 points >> and the s&p and the russell are also higher right now. >>> coming up, much more in-depth analysis of the disney talks with fox including what a potential deal could mean for disney's succeacuccession plans. >>> meanwhile, saudi arabia's surprise arrest of more than a dozen princes and officials sending shockwaves across the financial markets. as investors scramble to find out what is going on in the oil-rich nation. ahead, a pair of experts to help make sense of the news and what it could mean for your money. >>> we want to hear from you >> boy do we want to hear from you. >> twitter, facebook, sent us an e-mail with your thought on this deal that, too. you're watching cnbc, first in business worldwide excuse me, are you aware of what's happening right now? we're facing 20 billion security events every day. ddos campaigns, ransomware, malware attacks... actually, we just handled all the priority threats. y

we are still looking at modest gains for the s&p and nasdaq. we are also looking at record highs for stocks, despite uncertainty including the delay havee tax reform bill, we stocks. the bull is marching on. btv 287,e a look at this represents the monthly gain for the dow. the dow has had its best months since february. the same thing for the nasdaq going to july. a strong october. look at october of 2016. big decline. october was a strong month. we have been having a strong third-quarter earnings season. oil tradingave higher after a bullish api report come a helping big names trade higher. nearly $55 a barrel, pretty amazing. above the $50 mark, psychologically important. in the best longest winning streak since july, we have some big earnings movers. let's take a look at what some of the top stocks were. including estee lauder and concorde resources. earnings by put up 25 -- 25%. resources, clorox, their view is the midpoint trails estimate, but lots of strength here for these companies. fueling those records, breaking news on the middle east

the nasdaq got your attention. is divergence -- we don't see this every day -- the dow trading higher, almost .4%, almost an all-time high. paceasdaq down 1.4%, on for the worst day since the middle of august. the s&p 500 down about .10%, earlier putting in an all-time high. it is really technology and chips taking a hit, causing the divergence, while some of the older, older economy stocks doing relatively well. let's break this down. we look at the imap on the s&p 500. first of all, interestingly, we see more of the sectors are trading higher. eight of the 11 sectors are trading higher. real estate is flat. utilities, and then write down there, tack down 2.7%. look at the financials. financials up 1.7%. thathan krinsky told me the high today of a selloff, and the rally for the financials is simply a rotation out of growth into value. let's look at some of the movers. on the one hand, we have to tech stocks selling off, including apple and facebook. take a look at that. jpmorgan in bank of america up in a big way,

the nasdaq rose 4 points to 6867. >>> early returns are in. data from adobe says holiday shoppers spent more than 1.5 billion online, up nearly 17% from thanksgiving last year. more shoppers turned up at shores as the strong labor market, rising home values, stocks at record highs. national retail federation expects sales to rise 4% this season. >>> uber discussed massive data breach before going public with details this week. they're trying to complete a deal with a japanese company. tuesday disclosed they sold data more than 57 million. it paid hackers $100,000 to delete data. back to you. >>> shopping has started, how much will people spend this holiday season? around $1500 if you're average. that was last year's average, last year it was 1300, so a little more. top three gift items, clothes, electronics, and gift cards. >> i don't like giving gift cards. >> i'll take them. >>> we have weather. >> you can send gift cards you don't want. i will find something to do with them. off to a mild start. perfect for shopping or walking off the thank