in red, 3m and blue.look at the red bar. growth in revenue for caterpillar here. this is the best it has seen 2011.ince -- the same goes for 3m. that night percent revenue growth, they haven't seen that since six years ago. in terms ofut eps, operating income, we are talking doubled digit increases. quarterest pace for any since 1993, the last century. growth. people are going to take that. caterpillarg into -- diving into caterpillar. down lines ofand recession, financial crisis, some tepid growth over the early parts, and then in 2016 after donald trump was elected, we see this rise in global growth, and that is pulling ahead caterpillar. in terms of the overall growth for sales, 34% and blue. is higher than that? 50% is asia-pacific revenue growth. since 2011, and that is one reason, and that is the purple and 55%. now to 3m, this is for organic growth. take a look at the right hand side of the screen, you are looking at these or range bars that are popping. this represents asia-pacific growth for 3m.

when 3m reported last night, a 6% organic growth.the business came from asia specific which is something the analysts seem to discount. so focused on the americas they simply don't understand everything that 3m has going for it r and d's spendings creates earnings faster. 30% of the company's sales comes from products that didn't even exist five years ago how do you model that? how do you predict all of the household products you are doing. it is the kind of stuff that would make a parent's day at least when you move a kid into a new apartment. so many companies are trying and failing to put the pricing increases 3 m succeeding in ways that are surprising the analysts tax rate -- reinvestment is life blood of 3 m but also higher dividends and buybacks now, even better management raised their buyback forecast from two to 4 billion to three to 5 billion in fact i think they increased the buyback because the stock keeps rallies. been doing this thing for ages my dad was a rep in philadelphia for 3m whatever they sold. and that could hel

faber at the new york stock change cramer has the morning off 90 points of this is caterpillar and 3mlone a lot to watch with the president now in davos, mnuchin not backing down on dollar comments and europe is mostly green and oil continues its run above 66 our road map begins with industrial earnings from cat and 3m and numbers from ford we'll dig in. >> the president is switzerland, we'll hear from him this morning and then an interview with our own joe kernan. >> and futures are up in the premarket on the rally this morning. earnings news, lifting a pair of do you components, caterpillar with its fourth quarter results and issuing up beat guidance due to growth in the construction business 3m with q 4 results, increasing the dividend by 15%. cat is the story this will be an all time high. they are talking about strong order rates, lean inventories and increasing backlog and this is all before we see the framework of the infrastructure, bill. >> talk about two stocks that are kind of encapsulated, all of the themes for a long time it's the kind of global reflation growth spot and

the dow closes at yet another all-time high as caterpillar and 3m ride the wave of a strengthening global economy. >>> cheap tickets? airlines are adding seats. that means fares could drop. good news for flyers. but a worrying development if you own airline shares. >>> and the amazon race. why the competition for amazon's second headquarters is taking a new secretive turn. those stories and more tonight on "nightly business report," for thursday, january 25th. good evening, everyone, and welcome. i'm tyler mathisen. sue herera has the evening off. the dow closed at a record for the tenth time this year. for the s&p 500, it was its 13th record finish in just 17 trading days so far. earnings helped drive the blue chip index as some of the world's biggest global companies easily beat profit expectations. they also said things are looking fourp the rhett of the year. at one point today more than 30% of all of the 30 dow components from at all-time highs. here are the closing numbers. the dow jones industrial average advanced 140 points to 26,392. nasdaq fell nearly four, though. but the s&p 5

look at this, 3m and caterpillar. 3m up over three bucks.n over three bucks that having some impact on the dow industrials because 3m and caterpillar are both dow stocks. come in gary kaltbaum, of kaltbaum capital management. all right, gary, you have seen all the profits reports we're seeing so far. are they good enough to justify another leg up for the stock market? >> not sure. you have to realize something, stuart. we're up 8,000 dow points in 15 months. that is good enough for about five or six years of gains. so we'll see. caterpillar's sales growth last four quarters went from 4% to 35%. so the numbers are darn good. the question is, has the market factored it in? remember caterpillar sup 50 to 60% in the last year. maybe too far too fast. but the market still in good stead. i'm noticing housing stocks may be topping today. overall the market is in good shape, notwithstanding pullbacks that happen anytime. stuart: thanks so much, gary. listen to this about netflix. we'll put it on the screen in a second. netflix is at all-time high. i

amy: 3m stops because it is so dangerous and dupont takes it over?here did the epa fit into the story? >> as i mentioned, i first alerted -- the epa was looking at pfos, was not really focusing on pfoa. in march of 2001 when i sent my letter to u.s. epa alerting them, you need to also look at this very closely related chemical pfoa because it is in the drinking water here in was virginia and ohio, likely in the blood of lots of people as well. that started triggering u.s. epa to first start looking at this chemical. they started having to play what i characterize as a catch-up game. this is a chemical that had been in use and was being admitted into the environment since the 1950's, but it predated a lot of the federal laws that required testing and regulation of chemicals before they went into process. so the epa really had not looked at this chemical. one of the things they eventually did is the u.s. epa, once they started looking through all of this information, they brought a lawsuit against dupont in 2004 saying there was information about the t

. >> meanwhile dow components caterpillar 3m helping to lift the dow. know the cap quarter in and out. some of these bag locklogs are rising faster than they can make the machines >> with general electric we have seen better than we expected the the caterpillar call is starting right,0 now 3m was much better than expected >> is that profit taking a surprise why do you take properties now with expensing, full expensing now on the hoe rrizon? >> such a good question. stocks are up. traders saying the valuation is getting a stretch here we'll have to see what comes out of this call add well. the bar is getting higher and higher to hurdle for some of these industrials like c caterpill caterpillar. >> markets watching the dollar as well. continued weakness mnuchin claritied his comments index trading near the lowest level since 2014 in davos, he said you have to way the pros and cons. >> in the short term where the tlar dollar is is not a concern of mine there's benefits of where the dollar is and there's costs of where the dollar is depend upon which side o

big moves in 3m, deer, caterpillar and boeing. analysts say stocks are getting pricey but profits are catching up. >> we like the valuish names. stocks haven't gone up much at all. g, he. we like emerson, like itt, rex narcotic. >> earnings season isn't overyet. next week, boeing, lockheed martin, semens and others also add to the sector's story. >>> investors in wynn resorts take money off the table on a report alleging sexual misconduct by founder steeve wynn. that is where we gwynn tonight's focus. the "wall street journal" reported that former employees reported they had been sexually harassed over a number of years by wynn. it was reported he had paid several settlements to a manicurity. abvy said a favorable tax right and robust sales of its athlete transmit prompted the company to raise profit estimates for 2018. the new guidance came after abvy reported earnings and sales that rose more than expected. shares rose 1% to 123.21. and colgate pal model i have said weaker sales and increased pack anging costs cut into mother-in

i was just looking you mention the boeing was the big gainer, 3m, j&j, and goldman sachs up 1%. is down 2% imagine what the dow would be doing if apple were not down 2%. it's one of the high priced stocks. >> that's a great point. we're seeing divergence between the dow and the other but the s&p slightly positive. the russell slightly positive now, too. >>> starbucks set to report after the bell and investors hope the results can give a little jolt to the stock it's been a laggard. kate rogers with a preview. >> the street is looking for eps of 50 cents on revenues of $6.2 billion. same store sales growth is estimated to come in at 3.3 h% globally the coffee company opened its shanghai reserve roastery and plans to open two more in milan and new york this year analysts looking to see how streamlined operations will affect it's bottom line. it planned to close more tevana retail locations investors hoping to hear about the tax rate will affect them. we will hope to hear more on the call later today back over to you. >> thanks. we'll see you next hour. in the meantime, is starbuck

then 3m earned $2.10 a share for the fourth quarter, 9 cents above estimates.ed a 16% hike in its dividend. >>> coming up, a rundown of those earnings we just reported and others, as well as an interest rate announcement from the ecb. we'll bring you the market's reaction check out the futures at this hour, strong again davos prepares for mr. trump ronoh really?g's going on at schwab. thank you clients? well jd power did just rank them highest in investor satisfaction with full service brokerage firms... again. and online equity trades are only $4.95... i mean you can't have low cost and be full service. it's impossible. it's like having your cake and eating it too. ask your broker if they offer award-winning full service and low costs. how am i going to explain this? if you don't like their answer, ask again at schwab. schwab, a modern approach to wealth management. in corporate news, reuters reports that alibaba and u.s. supermarket chain kroger have had early talks about working together sources say that includes a meeting when kroger executives traveled to

you seen 3m lately that don't quit. that don't quit. stick with cramer. it's not theirs. it's mine.e. mine. mine. the new lexus rx 350l with three rows for seven passengers. are you excited about your baby sister coming? experience space for the unexpected with the rx l, part of the rx family. experience amazing at your lexus dealer. but some of us make somethinge make sommuch more. dinner. mom would be proud. with blue apron, any night is a chance to see what cooking can do. >>> ibm stock back to where it was a couple days ago. is this an opportunity i think this is important. there are analysts who just upgraded it, and they will defend it very hard tomorrow morning. so if it opens down from this level i think you pounce like i said, there's always a bull market somewhere, i promise to find it just for you here on "mad money," i'm jim cramer, and i will see you tomorrow. >> welcome to the shark tank, where entrepreneurs seeking an investment will face these sharks. if they hear a great idea, they'll invest their own money or fight each other for a deal. this is "shark tank." ♪ is

sachs, a slew of earnings, of course, we did see 3m hitting a new high. what weighed on the dow in part was apple. apple pulls back today, down nearly 2% on the day, closing at 171 there. had been comments about iphone sales, so that's been weighing. but overall the markets had been up over 200 points. president donald trump spoke about the u.s. dollar saying it's going to get stronger and stronger. the dollar moves higher, the markets off highs. the dow held onto 140 points, back to you. liz: thank you, nicole. the president pushing america first policy in davos. sticking it to world leaders there. details in just a second. speaking with 15 ceos at dinner davos. you'll be surprised at what these ceos of major global companies had to say. let's roll tape. >> we build it and it will come. >> it was founded by american. >> we are excited about what's going on in the u.s. market. >> we have 15,000 people in the u.s. i'm very happy and pleased with your infrastructure focus. >> 100% made in the united states. >> we're just now rounding the biggest investment

losers here, and just between boeing and 3m, that's shaving 92 points off any kind of gains that the dow would have seen. s&p also in the red now. had been green. now down 6. nasdaq had been the real winner today, not so much now, down about 7.63 points. could it be on the news that now two senators are voting no on what may be handed to them tomorrow, the continuing resolution on at least extending the budget, another stopgap. this would be the fourth, very short extension of 28 days. no deal, though, it's really putting pressure on all three major indices, including the russell 2000. we need to see this is coming on the news for boeing, at least, the big winner, rival airbus received a big contract about a $16 billion order from emirates air for a-380 jumbo jets. boeing was the winner in 2017, 2018, so far up 16%. down 3% right now. one of the biggest losers of the day, not a dow component is alcoa. remember we told you during this hour yesterday they were on the verge of reporting earnings, they're diving after missing on both profit and revenue expectations in q4. drought in braz

i always compare ge to 3m, they're both kind of conglomerates. 3m soared. consistent. ge going the opposite way. i want to invest in greatness, not what we're seeing in this company right now. stuart: would you invest in ibm? this is turn around company. i saw them drop to 150 a share, they're at 169, 170. they have become kind of a black chain company. i know you have strong feelings about bitcoin blockchain but would you buy ibm at 170? >> i have to wait for earnings. the answer is no and the simple reason why this company has not had sales growth for three or four years. last quarter they used a 12% tax rate which makes things look better. i think they have taken a lot of advantage of buybacks in the past but look, anything's possible now with a weaker dollar, multinationals do better. i want to see reaction to the number first before i think about it, it is big lagging dow stock over the last few years. stuart: real fast, i got 20 seconds for you, this market will take off some more on the upside this year in this market, yes? >> i believe in the end we

well, boeing and then 3m leading the dow 30 after 3m said fourth quarter sales increased 9%, and its business is dragging growth. but ford finding itself in a sticky situation after reporting disappointing fourth quarter results saying they've got rising commodity costs. we're talking materials, unfavorable exchange rates, lacking on the details traders say. all i'm hearing is blah, blah, blah, i'm planning on the break. ford is down about 5%. >>> up next, america's biggest railroad. since the trump economy has helped it chug along in 2018, but will leaks about a new trump infrastructure plan send its trains click clacking down a whole different track, a maybe bumpier one? chairman, ceo and president lance fritz, union pacific, joining us next live here on "countdown." ♪ ♪ but it's about building relationships with one another. because that will manifest change. ♪ i'll stand by you. mvo: anybody can make a difference. it's easy to give back. it's just a little bit of time. ♪ ♪ i'll stand by you. ♪ ♪ liz: now the dow's up 110. okay, as the president and his administration hobnob in th

then there's 3m which actually hit a new high, the maker of scotch tape and bandages, post-it notes.ed forecast. that's a real winner. ultimately, we digested a few pieces of information such as home sales, home sales dropped, why was that? because people had more in the labor market, they are doing better with the jobs, ant wasn't the supply, that's the big picture on the market overall. we have come back, some people are really just taking money off the table and extensive conversation with one trader having the best month of his career and he's selling, he's just saying, i don't want to lose it, some people are right near the top and feeling great. trish: nicole, thank you very much. u.s. crude calls 1.65 a barrel. our own jeff flock. jeff: there had been a surge, part of the run huff upmost recent yesterday at least had been talking about a weak dollar which obviously is bullish for oil, now we are in the after hours farther than we were at the close, we are now trading 65.10. just about $65 and, again, strong dollar, weaker oil prices which is not necessarily a bad thing. we've

one pilot we are doing in michigan, we did a pilot with 3m about construction zones.e picked a construction zone area where 3m embedded an infrared, various barcodes and signs that a vehicle can read to tell them it is a construction zone, so we have the human piece, but also so the camera can register and the vehicle can understand a construction zone environment, look at lane markings, many things, in a context you would never believe possible. so these are the kinds of infrastructure dialogues that i think and be important. host: let's go back to technology and michigan. not always what people think of when they think of technology? guest: what part of history are you looking at? because i like to remind people, if you go back to the early 1900's, we were not just the auto center of the world, we were the innovation center of the world. autos, cereal, furniture, chemicals -- we were the entrepreneurial center of the world. we created the modern corporation there. we were so successful that we sort of lost that entrepreneurial spirit. the good thing is, over the las

we picked a construction zone area where 3m embedded in infrared. sparkles and signs that a vehicle can read help with construction zones. but we have the human and now we have the camera can register and that vehicle can understand in the construction zone and look at lane markings and do many things in a context that you never believed possible. these are the kind of structure dialogues that are important. >> host: let's go back to technology in michigan. not always what people think of when they think technology. >> well, what part of history are you looking at. i like to remind people if you go back to the early 1900s we were not just the auto center of the world but the innovation center of the world. it was autos and serial and furniture and chemicals in all these industries we were center of the world. what happened is we created a modern corporation and we were so successful we started to lose that entrepreneurial spirit. the good part is over last few years we have gotten it back. where the comeback state in this nation and now not only are

so we picked the construction zone area where 3m embed an infrared various bar codes and signs that a vehicle can read to tell them it was a construction zone. so we have the human piece, but now we actually have it so the camera can register ask that vehicle can -- and that vehicle can look at lane markingses, it can do many things in a context that you'd never believe possible. so these are the kind of infrastructure dialogues that i think can be important. >> host: let's go back to technology and michigan. not always what people think of when they think of technology. >> guest: well, that's -- what part of history are you looking at? because i like to remind people if you go back to the early 1900s, we were not just the auto center of the world, we were the innovation center of the world. it was autos, cereal, furniture, chem calls, all these industries, we were the entrepreneurial center of the world. and we created the modern corporation there. we were so successful, we sort of lost that entrepreneurial spirit. the good part is over the last few years we've gotten it back. we're

unitedhealth group, caterpillar, 3m, and home improvement retailer h if you add these up, you'll see that just about half of the dow's gains between 20,000 and 25,000 were just these five stocks alone. it's not all positive. some of the names didn't do all that well. check out some of these. pharmaceutical giant merck has dragged the dow down during that timespan. general electr is not a big high priced stock anymore but it dragged 82 poi dow's performance. big blue, ibm. as we talk about the march for the next leg higher in the dow jones in average, we'll talking about whether or not e stocks can turn around or whether the momentum in shares like boeing, home depot and others can maintain that upside. for "nightly business r i'm dominic chu. >>> to the economy, where u.s. employers created 250,000 jobs last month, much more than expected. it i the latest report pointing to strength in the economy. and as steve liesman tells us, it's the economy that's playing an important role in the stock >> reporter: some stock market surges take flight on the hot air of just hopes and dreams. but

as far as the stock, cat catpillar71%, 3m shares up 40%. i was just showing by the way. also hear from starbucks, earnings expect to increase nearly 10% from last year, starbucks stock is up more than 3% from a year ago. and then finally, maria, you're going like this one, rapper 50 cent can add a few more coins to his name, bitcoins actually. ♪ >> this is the hardest -- cheryl: get this chris jackson made a fortunate discovery, $8 million worth of bitcoins he had stashed years ago and completely forgot about. this went down in 2014. 50 cent let fractions of bitcoin, at the time bitcoin was only $262, there's today's contract, 11,000 and change. 50 cent with the humble brag on instagram and twitter said this, quote, not bad for a kid from the south side, i am so proud of me. he may like 400 grand at the time, maria. [laughter] cheryl: there he is. maria: that is funny. we have to get dagen's reaction on that one. i mean, look, dagen, the price has skyrocketed so i get it, he forgot, i guess. dagen: not a humble brag, just to brag. i call him curtis jackson, i interviewed

here's a good example. 3m, down $4, 1.6%. that's almost 30 points in the dow. another big industrial name. excuse me, scott, let's move over here and showing you boeing down almost $4 that's another 30 points essentially off the dow, 1%. another big industrial name. then we get to some very specific stores, this health care story we've been telling you about, the berkshire story and amazon story look what it's done to united health group this is the biggest health insurer in the united states dow component. $10 to the downside, that's about 70 points in the dow jones industrial average another specific story mcdonald's down $6 mcdonald's had good earnings beat but they have that big $1 menu there are concerns that cheap menu might drag down growth. that's another 40 points you put these four stocks together, that's about half the decline in the better than 300 points we saw? it the dow dow is price-weighted. there's not much positive today, but the market is very defensive in tone. there's some telecom stocks that are up the all stalwart, procter & gamble, the

we wake up at two am of 3m to make bread.heat flour, water, guests, and salt. it cannot be frozen or contain added preservatives. translation: be frozen or contain added preservatives. translatiosz be frozen or contain added preservatives. translation: if we lose this could tradition in 50 yea rs lose this could tradition in 50 years there will be no bakery, we will not be able to do it properly. the bakers have been inspired by the success of naples pizza in italy which became unesco protected last year. also making the list, spanish flamenco dancing, yoga, and belgian beer culture, just to name a few. they are all been so significant, they must be preserved for future generations. making me feel quite hungry! don‘t forget, you can get in touch with me and some of the team on twitter, i‘m @samanthabbcnews. goodbye for now. hello. the recent run of cloudy days continue for many during saturday although there were some notable exceptions to the rule. the north—east of scotland has fared quite nicely lately and that has been th

caterpillar and 3m are the latest to report strong earnings for the last quarter, better than analysts expected. numbers shot up this morning at the opening bell. that is a company there with a bay area connection celebrating its ipo going public. it does have an office in pinole. good morning to them. the dow jones up another 100 points. the nasdaq up just a little bit. 7417. the s&p 500 up as well to 2840 this morning, apple plans to give owners of older iphones more control over the speed of their phones. the next major update will include an option that will allow owners to turn off a feature that slows the device to keep aging batteries from shutting down. many people were upset when apple admitted that it was slowing down older phones. apple issued an apology but faces investigations and a number of lawsuits. >>> there is a new app that could keep you from spending time in security lines at the airport. tsa security wait times will be added features for its pro users. tripit will send alerts three hours before a flight showing current wait times. then travelers can check the app

. >>> and another record day for the dow. 140 points on the back of 3m.f strong global economy. the s&p 500 record high. global stocks are higher. u.s. futuries point to a fresh round of records. >>> it is easier to find an airline seat in 2018. united and american and southwest all will increase capacity this year. the concern is more flights and larger planes with smaller prices spark a fare war. >> the six largest u.s. airlines have lost $14 billion in market value. >>> walmart looking to japan's retailer to help compete with amazon. beginning to sell e-readers and audio books. amazon started an an online book seller. it helps walmart compete on both sides of the pacific. walmart will set up an online grocery platform in japan. all about the digital dollars. thanks for joining us. i'm christine romans. >> i'm dave briggs. we have the latest as the president wanted to fire special counsel robert mueller and live coverage from davos tomorrow. no, on monday. it's friday. i almost forgot. it's friday. i almost forgot. >> this is cnn breaking news. >> we wa

stocks trade higher today on the back of stronger than expect the quarterly results for caterpillar and 3m. >>> new at 11:00, according to a new survey, the average american spends about $155 per month on their health and fitness. $112,000 in their lifetime. that includes costs like things for gym memberships, health supplements, workout gear, and personal trainers. those on the west coast spend the most on fitness with the average cost coming to $6 a day, and east coast the least expensive with an average workout of $2 a day. free to walk outside, i suppose. >> absolutely, but flying, another story. talking about a path flight here for passengers. they are complaining about the bathrooms, so small they got stuck in the doors, and flight attendants say that about boeing's new plain. they unveiled the plain a year ago. it's faster, more fuel official, but forbes reports it's not comfortable. flight attendants say the sinks are so tiny, you wash one hand at a time. passengers also complaining saying that the seats are too small, measuring an inch smaller than standard. >> that's a challenge.

all those component businesses and they all have very generous valuations right now. 20, 24 times, 3mr honeywell or general -- >> well, it's -- >> you could say >> he was complimentary about flannery, the ceo and how nice to call $40 or $50 million tiny. >> i thought about that, too it's a tiny percentage of gdp and a small percentage of what mario wooe mario wields over there. >> he's seen enough, whether it's the bottom, the exact bottom - >> that's the point, right he's not saying it's the impact bottom just in the general area of, okay, i can see where the fundamental value might come through from here. >> and it makes you wonder because we won't know until mid-may other investors who might be getting in, the 13-d type investors thinking the same thing. >> stock definitely moved on that. >>> let's get over to sue herera. >>> here's what's happening. long-time congressman rodney fr frelinghuysen announcing he won't seek re-election he joins a growing roster of gop veterans who are not running. >>> former congresswoman corrine brown reporting to prison this morning. she was sentence

boeing, 3m, mcdonald's, walmart to a certain extent. apple, the heavyweights inside our economy right now, and people will keep investing in the stocks and therefore rising prices and raising the dow along with it. have you seen the dow take off beyond the other indexes with maybe the exception of the nasdaq composite. so given the fact that we have a good fundamental backdrop there. people have more money in the pockets to spend on consumer goods. caterpillar is also one of the higher priced stocks in the dow 30, given we have infrastructure spin that's coming and given that financials look good in 2018, those companies like goldman sachs, which is another one of the high-priced stocks, jpmorgan and the other financials, visa, a tech company but a financial as well. it's going to lift the dow and keep it going and another thousand points is in the cards in my opinion. liz: nobody wants to talk about the fed at this very moment, john bollard of the st. louis fed making comments giving the thumbs-up to tax legislation and staying include

off to a strong start this morning thanks to a number of corporate earnings including caterpillar and 3mger than expected. more records on the way. the dow up by 100 points, nasdaq is up 29. the s&p is up by 6. back to you. >> thank you. >>> it is a plan intended to make silicon valley a bit more affordable for teachers. kpix 5's anne makovec is live in palo alto this morning to explain how a new housing proposal would work. anne. >> reporter: i'm standing in a parking lot across from the courthouse that could one day be home to an affordable housing complex. we're talking about a partnership between the county, couple of area cities and local school districts that would eventually include building between 60 and 120 units built on this county-owned 1.5-acre site on grant avenue near the california avenue business district. a two-bedroom apartment in the area averages $3,800 a month well out of reach for many people. you remember the planning commissioner who resigned who lamented the situation of young families with no hope of putting down roots. she and her husband are moving 40 miles

and 3m and intel soaring and dividend hike. we'll check out the other movers colgate is down. revenue falling short. honeywell is higher on the earning by 1%. the company also raising the outlook in starbucks, down 6% revenue missing forecast sales growth expected to come in at the low end of the prior 2018 forecast >> thank you very much. >>> welcome, i'm tyler mathisen and get you up to date shares of wynn tanking now down 7% on the reports of sexual misconduct by the ceo and founder steve wynn the "wall street journal" reporting dozens of people coming forward, more on this developing story ahead >>> us economy growing steadily in the fourth quarter of last year but losing steam from the summer demand, however, for durable goods soaring last month coming in way above expectations michelle. >>> president trump taking the stage this morning in davos. his first ever trip to the world economic forum yesterday he told our joe kernan he was here to make the pitch for businesses around the world to come to america and this morning he told those gathered exactly what he told cnbc.

think about how much that's come down 3m back then it had 649 million shares, now it has 596 million shares those incredible shrinking numbers -- and they are incredible -- coupled with the money coming in automatically means these stocks have a natural bid or put underneath. meaning they're usually going to be more buyers than sellers. put it all together and you have a natural recipe for higher stock prices of course the stock shortage and the new money coming in aren't the only things pushing this market higher, there are other problems a lot of recent gains can be attributed to the new tax code and this is a great example, caterpillar hit an all time high today on a recommendation for from a major brokerage house the gist, the new depreciation rules in the tax code make it far more advantageous for companies to buy equipment so that's going to bolster cat sales, they sell the heavy equipment. that's all about tax reform. something few money managers believe would happen until it was already upon us. it wasn't calculated into the earnings, it wasn't baked in each day we get upgrad

well, boeing, goldman sachs, 3m, and united health care these stocks are the highest price stocks inhe dow jones industrial average and of course, kelly, the dow is a price weighted index, these stocks are going to have the most weight. if you look at some of these names, boeing 3m, united health, caterpillar, part of part of the iq 100 and if you want to look -- >> not to mention where we've come, we had the gauge below nine today i rarely -- i mean i think it's happened a half a dozen times ever and this comes after people were saying, the president was irresponsible tweeting about nuclear war with north korea, this is not a market, you know, talk about the risks that may be ahead, that's one that everybody talks about, and one that we completely glazed over >> market cuts to the bottom line when it is, what exactly would options prices be trying to capture in reacting to a presidential tweet or some kind of slight move in the probability of some kind of cattily mic conflict and they never really did that the vix mostly responds to what's the rhythm and behavior of the market recen

the dow, once again, those big, widely held names leading the charge, caterpillar and 3m the latest to blow through expectations go big or go home. >> go big or go home, and they're actually delivering. the facts are all there. fundamentally, are some of them stretched? probably, a little derivatives markets continue to go after those major names, major indexes, and they're buying more upside, scott. do i think it's over i don't. do i think it's probably a little bit -- is it heated yes. is it overheated no >> we're not discounting the fact that the russell has done incredible well. that's set new records too there are high predictions and forecasts for smaller and mid-cap stocks because of tax reform and exposure, et cetera however, new dow highs today, jpm, travelers, verizon, earnings season littered with big companies with great reports. utx, amex, jpmorgan. >> you're exactly. you're right to point that out okay, the russell is not really where we're seeing the significant moment so far. that's a lot to do with what you see in the currency. but i go back to talking about momentum 2

one stock is a third of the gain caterpillar, united health, home depot, 3m.e highest priced stocks in the dow. put it together, 60% of the dow's gains from 25 to 26 were five companies five out of 30 companies here. what is more interesting is the days to the rally are getting small eastern smaller. each 1,000 point increment is getting small eastern smaller. look, it took 109 to go from 21 to 22,000. after that, 53 dpays to go to te next 1,000, 23 days, 7 days. you get the point. this is more than just easier to hit the target this is definitely an acceleration it is euphoria, some people say it is. but it's an acceleration this is a global rally 50% of the earnings from most of the big companies are overseas and we're seeing tremendous moves up in markets over in hong kong hit a historic high today, hong kong shanghai, korea, spain, germany had terrific gains this year tax reform definitely has accelerated the markets' return since december 20th when the tax reform passed, analysts are raising numbers. so since then we raised about 2% higher in the last thr

when you think of 3m you don't think of them. they have more competition but the sector itself has not outperformed the market in the last 12 months, the industrials. but it's as steep as you are going to fine it in the rolling 12 month period. >> in terms of the overall charts we are all talking about reversals in today's session what did you talk about it. >> you are talking about a day to day thing when you have a new high and then you close on absolute low, last time we saw that was august 8th. and it gave way to a 3% selloff. i would think this would be more like 5 to 6 selloff. in other words we are steeper than we were in august. >> does the vix tell you anything, it opened higher and closed higher on the day first time we have seen that as well in a hng time. >> everybody is participating. banks are on fire. energy is on fire. the consumer -- >> are you negative on the market >> i'm always negative on the market >> more so after today are you more negative. >> i think you have to assume this is an important intermediate t

united health care, goldman, caterpillar, 3m all adding 500 points each since the election.is twice as important to the dow as apple is to the s&p 500. joe: that is pretty impressive. big picture, i think in our minds, new year is a time to reset coming years resolutions and stuff like that. the market is like it just didn't matter at all. >> people had this mentality year, you needw new leadership, we have the steady grind higher, tech is probably going to lead again. joe: i know we are only three days into the new year, but is there anything we can say about it yet? >> the fascinating thing is the massive commodities rally. the rapid increase in commodities, the futures , energy, index materials shares are in the lead early in the year. obviously the dollar is on everyone's mind right now along with the flattening yield curve and the linkage between the two. a lot of handwringing going on this year as far as the relationship between yield differentials and the dollar, not really following some of the old textbook things that people look at. for now, it's really very much o

visa, microsoft come american express, apple, united health, 3m, johnson & johnson, all of them in theirst 10 minutes. i really love it. i love to see money being made. capitalism, life, great dust. for the benefit of our radio listeners coming dow industrials up 228 points at 26,029. let's get that right. trump has more than doubled at united palace. that was driven by a one-time tax gain because of the tax overhaul. that is huge. then we've got citigroup. they were poor profits this morning before the bell. as you were saying, they took a whopping $120 billion charge and then your stock goes up here tell me why. >> the forecast going forward each dollar citigroup makes will take a much larger percentage than under the previous tax code. that is the positive end by the stock hit new highs. stuart: remember comerica, considered a regional lender, regional bank doing very well hauled in part by a series of interest rate hikes by the fed, comerica doing well and not up over 2%, to backfire and 95. ge again as we said would take a $6 billion paid for insurance portfolio. the stocks had 18

we also see a continuing performance from 3m. 3m is staying at the top of the leaderboard and the indexn why they're there is because they continue to see themselves as a critical component supplier to industries that are right across the board. the people who are in are some of our best performers last year as constant performers, and the people who are out are interestingly enough, as we wanted it to do with this index, the kinds of companies that have now gaub gu through m&a activity last year. they've actually started building their synergies, but the innovation advantage, which is the challenge for an innovative company, is actually the thing that has pushed them out. >> i notice you have qualcomm in there. pretty high on the list. >> absolutely. you know, they're in our top five qualcomm continues to actually cut into sectors that are looking at automation controls a number of things that are starting to move into that intelligent internet of things and sensor oriented integrated space. they are playing across a number of fields, and if you watch what they're doing, they're starti

conditions in hundreds of residents. 3m says there's no merit in the health claims saying they sold these products regarding their safe use and disposal. acting responsibly at all times and we'll vigorously defend this lawsuit. the air force has taken action, spending more than $4 million to provide bottled water and filtration systems. air force firefighters now train with water and they now use a different chlorinated fioam. they say the air force may have created one evil for another. arlene blum is a researchers at the university of california berkeley. >> our chemical regulation system makes us all guinea pig because they're assumed safe until proven guilty and we go out in the world and information. >> reporter: mark correll. is it possible you've replaced this with something that could still have a long-term problem down the road? >> i've got to rely on the epa and environmental health agencies to tell us whether that's going to be a problem in the future. >> but for now -- >> -- we're going to treat it as like any other hazardous material by cleaning it up immediately. >> why woul

they are looking multinational eat for growth. 3m had solid growth in all of its geographic areas. they are optimistic on tax reform and where the economy is going. david: i think we are wrapping up expectations on gdp. saying .9%. fink marty: i think that's possible. donald trump is supposed to start at 8:00. we hear it's only a 15 minute speech. he will be gone by the time the number comes out. did i make that up? marty: i hadn't heard that. i believe it. those are china like numbers. what are we expecting? , whichsts are saying 3% would be to quarters in a row. brooke: what is the benefit from tax cuts? does it rev up the economy? does it boost gdp? i think we've got to see how that plays out. ceos are optimistic. it's been straight guidance across the board. that's extremely unusual. david: thank you so much. coming up, we're going to talk more about the dollar. the greenback has its worst start of the year since 1987. we will speak to the jpmorgan assets manager next. this is bloomberg. ♪ >> this is bloomberg daybreak. dell technology is considering to go public again. they ar

you've got the 3m's hanging out. , molars and the maybes in congress you were just putting up on theoard. the midterms are going to color everything. it will be interesting to see when they come back and go to the spending bill. to the democrats give any ground on the wall. that will be the first real battle. >> for may the big questions are where are they going to cut spending. does that mean infrastructure spending is off the table completely. are they going to be having discussions about entitlements and cutting health care and welfare this year. and how is that going to fly. >> we will have discussions but we won't really have any action. the house wants to take on welfare reform and cut back spending for the programs for the poorest. has already said there is no chance that's going to happen. they have one more shot at reconciliation which they might use for infrastructure. they might use it for another run at obamacare. margin it's going to be very hard to get anything done. stasis and at of lot of talk about how great the tax bill is for everybody because that's what the gop i

caterpillar, 407 3m, 406. home depot and mcdonald's tied at the 355 mark. five stocks, biggest part of the gains in the dow. not just the dow we're talking about. record highs in the nasdaq and s&p 500 as well. economic this out. as we look at the s&p 500, some of the biggest names propelled the moves to 2,700 from 2,600. it's been a lot of beaten down names. retailers, kohl's, up 19% between the run 2,6 hrn a00 and0 halliburton, and up. look at some of the moves. we want to find out whether or not we are seeing that kind of rotation happening remember the big names apple, facebook and amazon market up roughly 4%-ish in that time apple lagged facebook, up 2%. amazon, 4.5% more market performer. michelle, talking about leadership, these stocks mattered the most but the smaller cap stocks in the s&p are producing the biggest gains percentagewise. >> seen this as the old school stocks. >> yes. >> right light a lot of -- >> industrial names. energy. >> exactly retail. >> right. >> cool. thanks, dom. >> you got it. >>> president trump weighing in, taking -- a lo

1,000, the last 1,000 points from 25,000 to 26,000, all cyclicals, boeing, caterpillar, home debow, 3m, major contributors to the gain united health being a consumer type stock the other issue besides the cyclical rally we have been seeing has been tax reform analysts have been raising their estimates ever since tax reform passed on december 20th, about 2% higher for 2018, and that's a big move for three particular weeks. guys, back to you. >> thank you very much now, let's get down to mike santoli who is looking at a potential overshoot in parts of the market mike >> brian, yes, thanks. this overshoot phase, if that's in fact what we started to see this year, is not so much about today's fizzle but about the different character of this rally coming into 2018 and what i would characterize as an overshoot is an acceleration higher in prices from already high levels. and you have the public enthusiastic about the stock market we have seen that with inflows coming in. you see the riskier, more cyclical parts of the market way outperforming. that's been a feature so far this year. i think

did away with those readiness squadrons is because there was more emphasize on the safety program and 3m than war fighting. and that really gets to my next point which is i think that the report kind of ekwats culture with can do. it went there because if you're going to criticize somebody's culture, criticize them for being can do. but i think it might be more than that and are we creatinginging or living off a culture where the results were dependentant on the cos and there were cos in our day and i think you could say the same today getting it all done. doing the training, the blocking and tackling and to the higher level war fighting piece but there are cos who don't. and what leeches through with the report -- and i'll start with you kevin because john doesn't want to be first anymore. are we believing too much to the individual cos and in fact maybe we've always been doing it that way but now it's really showing itself with all it other stress? >> well, i do think we're leaving too much to the co, particularly now -- this was not an issue necessarily in those long gone houseion day

today, it has a smaller market cap than boeing, a smaller market cap than 3m, and the company had a couplears, but its challenges are several fold, and it had a bad year last year, and, you know, it could continue to, i think, wither on the vine there's a lot of pressure. the company's earnings and cash flows have been cut in half, dividends cut in half. probably, we think, faces another dividend cut in the future, and it's trying to shrink to stabilize. that's not a quick fix >> a $60 stock in october of year 2000, and now a $16 stock thank you. todd gordon, anything in the charts to indicate hope ahead for the stock? if it keeps going down, there's a point. >> that's right. he does. it's been a massic under chronic performance since 2000 when the down trend began in november 2013 before the last winter olympics, we got to attempt at a breakthrough this down trend resistance. that downturn resistance slipped, now serving as a support, a 90 meter jump the support level is $15, the backside is the support, plus a pair of lows from '11 and' 12, so that area, 14-15 is the do or die level for