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there's the adp data.ut i want to talk about the services sector which was up a bit more than expected. then what you had, business activity was up, new orders were up, employment was the one thing that was down. i don't know if that's a sandy effect. that could be also, by the way, a fiscal cliff effect. zplint vi >> interviewing secretary geithner later today. what's your first question going to be? >> i want to get his response -- we had the president respond to boehner's proposal but i want to get the secretary's response, too, the specific issue of, hey, the republicans looked like they made a step forward, actually got some accolades in some of the press for agreeing to new revenues. where's the administration's response on that side? are they willing to give? i think that's a key question right now in terms of what the news flow is right now but also there's critical questions about the dollars on both sides of the equation, tyler. >> steve leisman, thank you very much. >>> jim iuorio, i want to ask

cheryl: a name you know very well, adp. >> it is all about stocks.me modest pickup in jobs, adp will be a beneficiary. incredible balance sheet. we have to think of that as well. load that wells and high levels of cash and this is the consistent dividend player paying a dividend since 1974. thirty-seven consecutive quarters of increasing their dividends at a 3% yield. cheryl: it seems you are making some global plays. do you think that the u.s. will be leading the global recovery or do you think you will be the other way around? >> i think the u.s. leads the global recovery in 2013. second supporting role is china which will accelerate but when we think about stock picks for 2013 stock picks are probably looked to be more global. this has been a year of domestic plays, a consumer discretionary and many have been good performers this year. i think 2013 we get a shift and go back to those global plays, industrial and materials might be early for that but those will be the areas of opportunity next year. cheryl: check out the multinationals, great to ha

we've got the november adp employment report. it's out at 8:15 eastern. forecast here called for an increase of 125,000 private sector jobs. it's lower than the 158,000 we got in october. at 8:30, we'll get revised third quarter productivity, which is expected to grow 2.8% versus the initial estimate of 2.2. unit labor costs falling by 1%. and then at 10:00 a.m., we have the november ism services index out. will it be a bit spooky? looking for a 53.5, which would be down nearly a point from october. at the same time, we also get october factory orders. they're expected to sleep .1%. quite a lot to get to. president obama is speaking to the business council in washington at 10:45 eastern as he pushes for a budget plan to avoid the fiscal cliff, that includes high tax rates for the wealthy. house republicans are meeting with small business owners today. lawmakers are divided on how much they should compromise with the white house. this is a day after the house speaker john boehner unveiled a budget proposal that included some revenue concession but he faced

economy as adp misses estimates. the blame goes to superstorm sandy. goldman says the party is officially over for gold. >> starbucks at an investors conference will add 1,500 stores in the u.s. over the next five years. wait until you hear what they said about china. >> a big day in media. pandora ceo joins us live later this morning as the stock fell nearly 20% on weak guidance and netflix signs a big exclusive with disney. how much are they having to pay up for that? >>> let's deal with this big deal. as i've been telling you we'll see a lot of big deals -- i was wrong. here we are. freeport mcmoran buying not one but two companies. the combined price if you add it all together gets close to $20 billion. that does include debt. let's go through some of the details. it's somewhat complex. let's start with bigger of the two deals. freeport's purchase of plains. approximately $6.9 billion in total now. it's a cash and stock deal. .6531 shares and 39 bucks a share in cash. that adds up to $50 a share. that's a fairly significant premium when we look at

adp that uses a different formula to come up with their figures.get the number from the labor department about private sector payroll creation, it will be different than this number. it reflects the final revision for november will we get that three-month document. ashley: adam shapiro, thank you very much. tracy: the 100 most innovative companies in the world. david brown the president of thomson reuters ip solution. a lot of u.s. companies, a lot of south korean companies, one country surprisingly missing. >> that is correct. china, actually is missing from the list this year. realistically, part of the index that we created to identify the most prolific indicators in the world is based on a proprietary methodology that, in essence, also rewards global friday. if you have an innovation that has value, then it should be covered throughout the world. chinese innovators do not tend to file outside of the country. tracy: that is what it is. they are keeping it all to themselves. we have been talking about that apple, samsung patent war lately. it has

on the employment data and the adp number we got the first shot at.he expectation for job growth is really one of the smallest numbers we expected to see all year. it should not be too difficult to hurdle to get over. lori: is it fair to say that concerns have been factored into the price market? >> the whole idea that the result has been priced in. the result has not come to pass by the 31st. the market could be in a very precarious position. lori: okay, alan, oil at a two week high. what is the driver there? >> what i am looking at right now is kind of a tug-of-war going on. the fiscal cliff could send crude oil off. we have tensions in the middle east. some better data coming out of china. right now, to me, it looks like a tug-of-war. they are taking it up to the 90 level. it has to settle above $90 before i am a buyer. very careful and very leery right now, it is the sharp selloff that is going to happen. lori: interesting. the commodity markets still care about the cliff. equities not so much. gentleman, a pleasure to have you this afternoon. all

but you cheat because you do the adp report. >> well, i am consistent with the adp report, you know,onsistent with the adp report and i believe in it. so, we'll see. >> i wouldn't even -- jared, i wouldn't even try to compete with him. he's got all the inside information. he's got nonmaterial information here. >> the problem is -- listen, the problem is i pay very close attention to what mark says. but the problem is that inside information like that doesn't help you on the jobs report that much as i suspect mark would agree. there's just such a large confidence interval around the numbers and in a month like this i've got two words to you, signal-to-noise ratio. maybe that's not two words. there's two kinds of economists, those who can count and those who can't. anyway, my point is that -- >> what is your point? >> my point is that i would look for 80 total, maybe 90 on the private side on the payrolls with unemployment ticking up to 8 or 8.1 and i do think when you have a hurricane of this magnitude hitting the most densely populated labor markets in the country which is what it di

according to the payroll firm adp the private sector added 118,000 jobs in november.nalysts had predicted a gain of 125,000. members of congress watched the attack play out in realtime at a classified briefing today on capitol hill. lawmakers say the national intelligence director showed them video of that attack that killed our u.s. ambassador to libya chris stevens and three other americans on september 11th of this year. catherine herridge live on capitol hill with more. catherine? >> well, thank you, harris. good evening. lawmakers say that this brief was constructive and that at times the videos were hard to watch. >> this was supposed to be sovereign u.s. territory and people can just come in and walk in on us like that without any kind of resistance, really makes your blood boil because you are thinking to yourself where is the security? >> to the degree that there was planning involved, was this something that was done over days? weeks or more likely over hours? i don't think there is any indication of any long-term planning here. >> one lawmaker who asked not

realistically, we are going over the cliff and therefore, you have payroll processing firms right away, like adp that have been told that those payroll checks immediately are going to be hit with that extra 2%. yes, all americans are going to see it in their very first paycheck in 2013. >> oh, joy. thank you very, very much for being with us in the days before christmas. have a greeted one. >> happy holidays. >> happy holidays. >>> the recession has already been pretty tough on a lot of small business owners now some of them are saying uncertainty about the fiscal cliff is more than they can handle. emily schmidt explains. >> climb on. >> reporter: there are people who make overcoming obstacles, even those towering 40 verier if the val feet high easy. these rock climbers are the heart of the climbing center business. >> i think with climbing, you have to trust your partner and you have to know that they are holding your rope. >> reporter: this takes team work, which is where she is frustrated by all the talk of another cliff looming in washington. >> there's so much uncertainty, not just for me

november's adp report out this morning shows private sector unemployment was up 118,000 in november, that's slightly below numbers. a precursor to friday's report will give us the picture for the month of november which will have a huge sandy impact, don't forget. up next, remembering a congressional giant, plus we're taking a deep dive into the deep cuts that the pentagon faces if congress does actually go over the fiscal cliff. you're watching "the daily rundown." ♪ i'd like to thank eating right, whole grain, multigrain cheerios! mom, are those my jeans? [ female announcer ] people who choose more whole grain tend to weigh less than those who don't. multigrain cheerios [ man thinking ] oh, this gas. those antacids aren't working. oh no, not that, not here! [ male announcer ] antacids don't relieve gas. gas-x is designed to relieve gas. gas-x. the gas xperts. yofor giving the perfect gift?le just have a knackve gas. they put real thought into it. and find just... the right...thing. how do they do that? more saving. more doing. that's the power of the home depot. pick up a ridgid jo

employment index on the heels of adp tomorrow weakest in three years. i think the consumer might have a stellar shopping season because americans always reach in their wallet at christmas but there is a lot of other parts to the economy. many are looking for fourth quarter gdp much lower than that revision that we had recently on third quarter gdp. >>> folks, here's your market battle. on one side china data coming in better than expected overnight. there's a little more optimism about a greek resolution. in the other corner, continued worries about what else? tax hikes and spending cuts. notice i did not call it the fiscal cliff. so ultimately which wins out? let's ask gina sanchez, director of equity and asset allocation at rubini global economics. dan, i know you've been traveling, london, san fran, all parts in between last couple of weeks. how concerned are your clients about what's going to happen on january 1st? >> it's not so much that they're concerned about what happens on january 1st because i think the bulk of our meetings have focused on th

adp says the private sector created 118,000 jobs last month, but that was below estimates.r department's closely watched employment data, which is due out on friday. that's it from cnbc. we are first in business worldwide. now back to chris and "hardball." >>> welcome back to "hardball." it was an iconic sight yesterday in the capitol when former senator bob dole was wheeled on the senate floor to rally support for thedu9rey conventi for rights of persons with disabilities. more than 125 countries have ratified this treaty already. here at home it was supported by a bipartisan group, including john kerry and john mccain. but the vote fell short of the 66 required votes, two-thirds required. an issue is belief by some republicans, many of them, that by signing the treaty the united states would somehow surrender some sovereignty to united nations. with me now are two advocates of this treaty, senator john kerry of massachusetts, chairman of the senate foreign relations committee and ted kennedy jr., a long-time champion of disability rights and president of the mal rvme mar

that is about 34 months of expansion as well as the adp report should be about 125 on that number ase important numbers, friday's number, the job's number and private payroll number could move the market. everyone is focused on the fiscal cliff. if you get a mini deal you should expect about a 3% to 5% pop in the market. >> we'll see about that. what are you watching? tell me how you prepare tomorrow. >> we have keys in our economic recovery and those are housing and jobs. we will have numbers that address those issues. it is very difficult over the next couple of weeks we are likely to have elevated volatility. longer term we are more optimistic and we still believe investors should be in stocks that have dividends. and low volatility we like these -- >> all right. jimmy, you're up. 30 seconds on the clock. give me things you want to watch tomorrow that will influence money. >> not just tomorrow but for the rest of the month i think the fiscal cliff can create a good buying opportunity for investors. last time the market reacted. i think investors need to be nimble and paying close

getting other news on the overall job market from the private sector coming from private payroll tracker adp there was a gain of 118,000 jobs in november. significantly lower than what it saw in october but that was because of superstorm sandy, which it says effectively took 86,000 jobs out of the picture. the labor department reports overall job growth this friday. it says in october there was a gain of 171,000 jobs with the unemployment rate at 7.9%. >>> netflix big news yesterday when it announced an agreement with disney to start showing exclusively new disney movies beginning in 2016 streaming those movies for several months before they can be streamed or sold elsewhere. the "l.a. times" is reporting that netflix will pay disney upwards of $300 million a year in order to do that. but netflix got a big bump as stocks were up by 14% on the news. right now, netflix is pulling back a little bit down about 2.5%. overall market mixed right now with the dow up by 47 points. nasdaq is down by 9. the s&p up 1. apple weighing on the tech sector this morning shares down about 2.5%. michelle and fr

. >> i'm a little concerned on the adp numbers. this is generally the weakest of the year. baked in a little bit. i think we're at the beginning of an end of the year rally.

expedia, adp, all up by 1%. back after this.cy: need to check the markets as we do every 15 minutes. nicole petallides on the floor of the stock exchange. nicole: we are not too far off of session lows, down 142 points, what do you think? you are starting to think inside washington is a breaking down. >> there's always the inside game and outside game and for two months you could tell what was going on, they would come out and talk to their constituencies where republicans or democrats but not saying anything bad about one another and also sending messages that the talks were going well inside. i am starting to see that break down so the inside game is starting to break down and you saw that with the first shot out of harry reid effectively calling john boehner a dictator. when you see that kind of backbiting going on and start leaking documents and if you see that forget about any detail before monday. nicole: let's get down and dirty in washington. our markets have been suffering since december, we have seen a lot of down arro

fascinating, because the slow down that's at least within the index of today's ism report, we have adpeport friday looking for 100. we're at 170 just on dls. so this combined number isn't looking too good at this point. how much is blamed on sandy when it shouldn't? >> everything blamed on sandy. that's going to work for a while. once you dig into the details, wait a minute, this isn't all sandy. because the east coast is a very big part of the -- >> obviously oh, yes. >> the economy. >> everybody who has gone through sandy. >> chicago is a big part, texas, california, they weren't affected directly by sandy. so that will come back much quicker if it's going to come back. that's where you have to look, to see what the trend was beforehand. >> okay. now europe. you know, there was a little bit of a -- a confusion this morning when spain asked for a bailout. they're talking bank bailout, country bailout, new program. rates are down. i've seen many stories, if this is really going to be a positive rates being down, we have to really draw in more global investors. do you think that will ha

we'll get adp private payroll numbers at 8:15 a.m.greg fleming, president of morgan stanley wealth management. we'll ask him about the future of banking and the fiscal cliff. that's tomorrow starting at 6:00 a.m. eastern. ♪ [ engine revs ] ♪ ♪ [ male announcer ] the mercedes-benz winter event is back, with the perfect vehicle that's just right for you, no matter which list you're on. [ santa ] ho, ho, ho, ho! [ male announcer ] lease a 2013 c250 for $349 a month at your local mercedes-benz dealer. we believe the more you know, the better you trade. so we have ongoing webinars and interactive learning, plus, in-branch seminars at over 500 locations, where our dedicated support teams help you know more so your money can do more. [ rodger ] at scottrade, seven dollar trades are just the start. our teams have the information you want when you need it. it's another reason more investors are saying... [ all ] i'm with scottrade. bp has paid overthe people of bp twenty-threeitment to the gulf. billion dollars to help those affected and to co

. >> to underscore the statistical significance, 86,000 was in the adp report affected by the hurricane's not within the statistical range with what they consider significant. it did have an impact and it may or may not have shown up. i think greg brings up a good point about the fiscal cliff and the break between consumer and corporate activity is very important. we saw the decline in investment in the third quarter very much related to fiscal cliff issues and concerns and delays on hiring and delays on investment. i also think it's important to point out that the persistence of high unemployment and greg can weigh in on this as well, i think this report because of decline in participation rate and persistence of long-term unemployed and the number of people basically unchanged that are accepting part time instead of full-time work will add to the fed's decision to stimulate further next week as well. >> is that a foregone conclusion? more stimulus from the greg and how does this number, if at all, enter into the negotiations surrounding the fiscal cliff given the break we're seeing in

economy added 111,000 private sector jobs according to adp. a bit weaker than expected. because of impacts from hurricane sandy. the bank saying it is looking for ways to cut expenses. those cuts amount to 4% of the companies workforce and is estimated to save $1.1 billion every year. stocks now and every 15 minutes. nicole petallides. nicole: we are looking at a market that is to the downside. let's take a look at citigroup. it is about 4% of the workforce. citigroup is higher. it has had an up arrow throughout the day today. we saw the dow jones industrials this week to the downside. we had two consecutive days in selling. down arrows for the nasdaq. down 1.1%. connell: breaking news out of washington. earlier, speaker boehner speaking about the fiscal cliff. now it is president obama. let's listen. >> we have emerged not yet where we need to be, but we certainly have made progress. the reason we have made progress in part is because of the outstanding management and productivity and gains and efficiencies that you have been able to achieve in each and every one of you

we've got the adp report on private sector employment. only 118,000 jobs created in november. the private sector, okay? however, clearly that was affected by the big storm, sa y sandy. should have been much higher and will have been much higher when the full effects are wiped away. no impact on the stock market that i could see. the dow industrials are going to probably open right around that 1 13,12950. the opening trend is down, but not much in the opening seconds. now down 2 points. not much movement. however, i've got to tell you about facebook, following very, very closely. facebook is going to join the nasdaq 100 index. it will join one week from today. nicole, you're on the floor, normally that pushes the stock price way up and yes, it's up today. >> yes, i'm going to say that we'll take it with a grain of salt no. a couple of things to note. going into the nasdaq 100, going into facebook and infosys leaving the nasdaq and going to n ych nyse. and they listed at the exchange, one of the perks, too, it's nonfinancial firms and a big one, facebook is 30 billion. another t

some point through superstorm sandy and how that may have impacted the results in the northeast or the adp report is seen as an indicator for jobs report. we were given new unemployment rate that i can share with you. greg: citigroup says it is cutting 11,000 jobs. about 40% of the global workforce. this they are expected to save $1.1 billion per year, and is the first major action since the banking giant named a new ceo. the group is not saying exactly how many of these lost jobs will be here in the united states are you with that they plan to close 44 branches. we do pretty big news from citigroup. republican leaders calling on obama to sit down for a face-to-face negotiation on the fiscal cliff. this is just weeks ago before the deadline. right now, as you know, there is still no deal. those sites are still hundreds of billions of dollars apart. mike emanuel has more. reporter: hello, jenna. speaker john boehner says the republicans made a good-faith effort to avert a fiscal crisis. they say essentially this is now time for the president to be getting involved to respond to the republic

and adp to paris is lowering its growth target for 2015 as lower traffic .lower economic projections since the summer are now affecting its prospects, down 6%. so, again, whether it's a fiscal cliff or generally speaking with, the message this morning is fairly weak. take a look at the bond space note. moving into gilts, moving out of italy and spain, but as we've been saying, 4.5% or under that and about 5.3% for spain aren't bad considering. t thor row/dollar is weaker. most of the risk currencies are moving lower. euro/dollar down by .3%. sterling is weaker against the dollar. we're seeing the dollar generally up. the dollar/yen here up .4% for the yen. so we've seen some significant weakening as the bank of japan trying to combat deflation. but today, a pause in that move. joining us now with plenty more on the asian trade, diedra. >> it's not the end of the world, but it is pretty ugly out here in asia. markets were headed towards some gains today and then all of a sudden we did get that fiscal cliff set back. the nikkei 225 dropping a percent. you can see the dollar/yen hoverin

thursday is the adp employment report and weekly jobless claims. friday brings the december payroll numbers. we also get ism services and factory orders. plenty of data there. it will be quite a busy week. from all of us here at "worldwide exchange," happy early new year. on that note, we want to know if you made any resolutions, trade or otherwise on what you plan to do for 2013? send them in. tweet us or reach us individually. just after the break, we take a look at mu ni bonds. how do investors feel about this asset class next year? we'll have full analysis when we come back. >>> welcome back to "worldwide exchange." these are your headlines. the senate is in a race against the clock as lawmakers try to solve the fiscal cliff impasse ahead of tonight's deadline. china ends the year under the sign of growth. manufacturing activity hits its fastest pace in 18 months. but it's been a lackluster pace for markets which hosts a modest return for the year. germany, hong kong manage to outperform. so just where should investors put their money in the ne

new this morning, 118,000 jobs were added according to adp. sandy. quote, superstorm sandy wreaked havoc on the job market in november, slicing an estimated 86,000 jobs from payrolls. >>> a quick market check right now, u.s. stock futures are still higher. fiscal cliff uncertainty is expected to weigh on stocks until that's resolved. we are 27 days until the fiscal cliff but there are only 27 days left until christmas. >>> before you part with your hard-earned money, some advice for smart is the new rich. some of the best things to buy in december, toys. but only if you wait until two weeks before christmas. tools and hardware. this is the time to buy school driver sets, lawn care tools, cooking and kitchenware. c cutl cutlery. things to stay away from, jewelry. you won't find low prices before gems and jewels before christmas. if you're going to propose wait until well after valentine's y day. electronics. best to wait until january or february. it's all about the bottom line, roland. newer models launched in later february, january. that's w

the adp report comes out this morning. economists surveyed by briefing.com.ct 125,000 jobs will show up in this report. it's a report for private sector payrolls. we get a broader reflection on the jobs market on friday. >>> oil production reaching the highest level in 15 years. this is according to a report from the information industry. the highest level since 1 98. this new eia report says the increase in production due mostly to the extraction process known as frac'ing. there are those who have coined a new phrase, saudi america for america's projected energy boom over the next decade. a report from last month says the u.s. is expected to unseat saudi arabia as the world's top oil producer by 2020. huge implications for foreign policy and how we do business. it's really been an interesting development in the oil patch. >> it will be really nice to talk about something other than the fiscal cliff. i will say that. >> jobs. that's right. >> 25 minutes past the hour. the republican party needs some new younger blood say some pundits. are these the new leader

it all starts with adp, jobs coming up later this week.ore "squawk on the street" back in a minute. bob, these projections... they're... optimistic. productivity up, costs down, time to market reduced... those are good things. upstairs, they will see fantasy. not fantasy... logistics. ups came in, analyzed our supply chain, inventory systems... ups? ups. not fantasy? who would have thought? i did. we did, bob. we did. got it. >>> shares of toll brothers are rising beating estimates helped by a jump in signed contracts and a drop in cancellation rates. every metric in this report came out gangbusters and the ceo cited this upswing in momentum that began in the first quarter of this year. they say next signed contracts increased quarter by quarter. 45%, 51%, 66% and 75%. now that's a case for momentum sustained here. >> the question is auto. obviously tremendous demand. home tremendous demand. can these do well even if we go over the cliff. momentum here was so amazing. we all know if they go over the cliff, payroll tax, you'll see less in y