. >>> we're back take a look at shares of adp they are higher. they got upgraded today to a buy at goldman sachs the firm raising its price target on the stock to 135 bucks, the heist on the street that's why we've made it our call of the day. they list a number of initiatives as to why they like this stronger new bookings and improved client retention, margins will surprise to the upside, they saw, because of the new cost initiatives maybe ackman can take credit adp is an outsized beneficiary of the corporate tax rates. >> i agreed to the call of 135, when it was down 102, 103, we talked about it on air removing bill ackman, having bill in this conversation is a positive for adp, but if you take bill out of this this is a company fundamentally for many, many years in a has shown growth, has exhibited proper balance sheet discipline, and it deserves where it's trading right now and i think it continues to move mire. >> look, it's a quality company. they have done well over the years, but they immediate a wake-up call to get up to speed and techno

manufacturing 40,000, the highest number ever for adp.uestions remain concerning the final version of the tax bill and what it looks like, the last-minute horse trading is going to mean final corporate tax rate is 22%, i've suspected that would be the number, 22-25%, that shouldn't be a surprise, be that as it may, hand wringing and fearmongering about broken promises but get the job done. as far as today's session is concerned. rerotation back in technology names and believe it or not, a lot of the oversold stocks, the highfliers are oversold, the biggest rotation is excitement from stocks to bitcoin, another crazy day for the cryptocurrency, rallied to 13,214, brings total value to $221 billion right outside the top ten most valuable companies in the s&p 500. wells fargo sitting at number 10. here to discuss, shah gilani, let me ask but the markets first. little sideways movement, lot of rotation, anxiety building up, what's going on? >> profit taking coming into the end of the year and nervousness here and there. geopolitical issues th

shaw's campaign in eqt earlier this year second, retail investors from arconic, to adp, investors are not afraid of companies with a large retail component they found ways to reach individual investors elliott mailed flashy mini retail devices, an trian placed ads in a local cincinnati newspaper pershing square held video webcasts with live q&a during its fight with adp not all these activists won every seat they sought their strategies are likely to catch on with other activists in the new year lastly, esg or environmental social and governance investors are demanding activists bring more director nominees that can help diversify the board and make it a force for good >>> all right. coming up, investment in uber goes up a gear as softbank takes a stake. we'll look at that and other big tech news after the break. so why wouldn't you take something for the most important part of you... your brain. with an ingredient originally found in jellyfish, prevagen is now the number one selling brain health supplement in drug stores nationwide. prevagen. the name to remember. >>> welcome back it

second, retailer investors, from iconic, to adp, activist investors are not afraid of big companies, they found ways to reach individual investors, mini player devices to iconic ads in the local cincinnati newspaper and pershing square held video webcasts during its fight with adp. not every activist warn, but the strategy is likely to catch on with other strategists in the next year, usg or environmental social and govern fans, they demand they bring more nominees that can help diversify the board and make it a force for good >> that was cnbc's leslie picker reporting t. big agenda items wall street needs to watch in the year we are break out your political playbook when we come back what's critical thinking like? a basketball costs $14. what's team spirit worth? (cheers) what's it worth to talk to your mom? what's the value of a walk in the woods? the value of capital is to create, not just wealth, but things that matter. morgan stanley >> welcome back. in political news, the irs says homeowners may be able deduction their state and local property taxes if and only if they were ass

. >>> there's a few economic reports on the wall street agenda the november adp employment report isut at 8:15 eastern followed by revised third quarter productivity and labor costs at 8:30. on the earnings front, brown-forman, h & r block, american eagle outfitters are set to report before the opening bell broadcom and lululemon are out after the close. >>> shares of dave and busters are shooting higher. landon has the details >> shares of dave & busters moving higher. the arcade operator posting earnings of 29 cents a share topping projections of 24 cents per share. rer nekne revenues missing slig same-store sales down as hurricanes took the toll on the business including a delay of a flu openi new opening in puerto rico steve king says he plans on opening 14 new stores this year representing 15% unit growth and they are excited to have a new smaller store format buster says it sees potential of up to 40 smaller stores to meet demand in the smaller markets. back over to you >> thank you very much >>> some more stocks to watch, general electric reportedly plans to cut about 4500 job

we saw a huge pop in manufacturing hiring in the adp report most economists right now are of the opiniont the disruptions from the hurricanes and the first of the two major california wildfires is already making its way through the labor market data. i'm not convinced because there's still antidotally if yo look at conference board and the data signs now that we could see an upside surprise today and that the unemployment rate could break below the 4% mark for the first time since 2000. >> david, your take in terms of where expectations are, particularly in light of things like the adp report. >> this might be one of the few times that danielle and i disagree you know, i'm looking at the consensus of 195,000 that's well above the pace of which the economy can absorb labor. we saw throughout the recent fed beige book that if anything we're hitting the wall on labor. there's massive constraints. i'm looking at the consensus, there's 78 forecasters, nobody is below 150,000 the consensus is 195,000 to me, perhaps more of a deceleration than from the month before but still a huge number. i th

on wall street for economic data today look at total factory orders the ism services index wednesday adp third quarter productivity jobless claims on wednesday. the week wraps up with jobs report and consumer sentiment. there are a few earnings sprinkled throughout the week. the list includes autozone, h&r block and lululemon. >> the richmond fed is reportedly expected to select mckenzie executive thomas barkin as its next executive. he serves as mckenzie's chief risk officer he will succeed jeffrey lacquer. he leaked confidential information. >>> we continue to follow bitcoin this morning a record high yesterday. this is a recovery from a 20% plunge last week. >> venezuela president nicolas maduro announcing his country will launch a crypto currency of its own. the goal is to fight what he calls financial bloc aid the new currency will be called petro and will be backed by natural resources reserves this, by the way, follows other countries slowly signing up for bitcoin or some type of crypto currency what's interesting is when you look at which countries are actually in favor of bitcoi

. >>> also up next from nelson peltz's proxy vote recount, bill ackman with adp, it's been a big year for hedge fund battles. just ahead, what the new year could hold in store for activist investing. >>> and we'd love to hear for you if you're not busy prepaying your taxes or something. reach out to the show on anitter, facebook, or send us e-mail you're watching cnbc, first in business worldwide another day at the office. why do you put up with it? believe it or not you actually like what you do. even love it. and today, you can do things you never could before. you're working in millions of places at once with iot sensors. analyzing social data on the cloud to create new designs. and using blockchain to help prevent fraud. so get back to it and do the best work of your life. your new brother-in-law. you like him. he's one of those guys who always smells good. his 5 o'clock shadow is always at 5 o'clock. you like him. your mom says he's done really well for himself. he has stocks and bonds. your dad wants to go fishing with him. your dad doesn't even like fishing. you like your broth

that the economy is stronger, 190,000 new jobs were added in november, according to payroll processor adp. gains in manufacturing, health care, restaurants and hotel jobs all fueled increase. the nation's unemployment rate stand at 17 year 4.1 percent. >>> remember that da vinchi paint ago this sold for a record, 450 million-dollar, it turns out mystery buyer is a saudi prince according to the new york times. painting is set to be displayed in new louvre in abby dab i. >>> do you live in the richest area code? new study found area code zero five in southeast florida , tops the list with the average annual household income coming in at just shy of half million-dollar. 516 on long island came in second. average household income there is 50,000 less. miami area, and 575 area code in new mexico was for the at 15 you this dollars a year. >>> wand are where we stan maybe we are in the middle somewhere. >> i don't know. >> most likely for philly, turf look back but would i say philly, i wouldn't say probably. >> but is it the county or surrounding areas and stuff like that. >> that is a fair que

adp right in line, 190 k

different, not only for payroll departments within companies or for the big payroll processors like adp, but for individuals who have grown accustomed to having these things called personal exemptions. as id it, those exemptions go away. a lot of people who may have itemized deductions may not under this bill. so it could really be hard work to get the right amount of tax withheld so you don't face a huge tax bill or a big overpayment at the en year. >> that is correct. i mean, exemptions are basically completely removed from the current tax bill. we are yet to see how, if you will, the itemized deductions are handled. we tend to believe that many of them will be taken off the table. and there's also allowances which the irs needs to opine on. the allowances also affect your net take home paycheck. there are a lot of moving parts that are yet to be determined and frankly they need to be ironed out before you fill out a new w-4. >> should you sit down with your financial planner, should you consult somebody like you, a tax guy that really knows what the implications could be? because it

the unemployment rate remains at a 17-year low, 4.1%, backing up the call from private company adp which uses its own data to forecast job growth, came in solid at 195,000 for november. some economists are worried that the economy could be on the verge of overheating because it can't mistaken this much employment without creating inflation. >> at the current rate of job growth, that's more than double the rate of growth in the labor force. underemployment continues. the unemplot rate is 4.1. we're going sub- dssub-4% by ne. that's an economy that could overheat. >> reporter: trade and transport jobs searched by 36,000, a big seasonal factor as retailers staff up warehouses for the holidays and struggle to find truck drivers to deliver all those packages. if these strong job numbers continue, it could prompt the fed to raise rates faster especily if there are signs of inflation along with it. for "nightly business repor i'm steve liesman. >>> out in california, officials say insurance claims for the october wildfires that ravaged that part of the state have reached $9 billion. today state

liz: private payroll -- grew by 190,000 in november, more than expected according to adp .xpect 200,000 jobs, and business round table, outlook index, 6 year high, saying that they are going invest more capitol hill, spend more money, highehire at levels we have notn in 4 to 6 years, colonel. are thoughts the same at facts. >> interesting when you talk to liberal progressive socialists they will tell you flatly they don't trust your facts, we saw dismal economic growth in the obama presidency, with more people in poverty and unemployment. but that seems to be what they prefer, corporation that are out there flush for cash is because they have been afraid to reinvest that cash and pit i --t to good use because of the regulations and rules of the obama administration. now it is different. we can see repatriation of trillions of dollars of capital coming back here. liz: practically every president since coolidge said that. by the way, a footnote, moody's analytics say that best month for manufacturing jobs all year 40,000, created. good to see you colonel. >> my pleasure, merr

data from adp, the private sector added exactly 190,000 jobs that was the estimate in fact.he year to date average now, 209, which is better than last year's 181 we'll see what friday brings. >> look, i think we're in one of those moments when i used to trade professionally where you would come in and say it wants to go down i was watching will and morgan this morning japan is down. i said to you on cross talk, copper had a bad day you know, there's a belief that maybe tech is slowing down, which i can't find -- i ask everybody -- there isn't a big firm where is tech slowing down, can't come up with it. but the market wants to go lower and it's okay. if we had reasons for it, it would be more acceptable but i think there's a worldwide profit taking moment and i can't find -- after a certain point when you're racking your brain and looking at it, it's like bitcoin, i said something negative about bitcoin so i'm marred for life. i can't come up with anything, maybe there is nothing. >> you told the troll on twitter to stay focused. >> told sparky to stay focused why do you get

it will encourage businesses to put that into effect in february i talked to adp, they said it would take them a few days to make the switch. for small businesses handling this on their own it could take them longer. kathy pickering says they're fielding a flood of questions from not only clients but also from tax preparers >> this is absolutely crunch time for us. it's normally crunch time any way, just getting ready for filing season. with the tax change this big, it's really adding on another level of questions, interest, curiosity. people care about getting it right. >> eventually workers may need to update w4s to reflected the deductions they qualify nor. the danger is that you underpay during the year and end up owing a huge tax bill in 2019. in the past the irs has waived penalties for underpayment to give households and businesses breathing room during the transition period, no word on if the irs plans on doing that again. >> aside from whether certain people will be getting a tax cut in new york, new jersey and other states getting a tax hike, one aspect of the bill was mean

private payroll tracker adp says there was a gain of 190,000 jobs in november. that's a healthy number. it continues a solid2017. the labor department will report something similar on friday. manufacturing is a bright spot in 2017 that was the case last month over 40,000 jobs added. healthcare, restaurant and hotels in second and third with job addictions. >>> europe's highest court says luxury brand can't sell the brand which protects an image online as well as consumer protection and their own work. >>> stock market looking to rebound from some selling yesterday off to a decent start. the dow is up 16. nasdaq adding 2 points. s&p moving higher by 1. >>> microsoft is modernizing the silicon valley location in mountain view. it's focused on an ecopositive campus with microsoft promising to have its smartest greenest office yet. it will recycle drink al water by harvesting rain water -- drinkable water by harvesting rain water. >>> a situation at the airport. >> we are talking about sfo multiple reports of crashes so possibly two crashes in the area. southbound o

big boost for people looking for work the payroll company adp says private companies added 190,000 jobs on the government jobs report that comes out early friday morning and not everyone is as fortunate. separate report review ising homelessness rose for the first time since 2010 and latest testament said 554,000 people without a place to live in the u.s. of a. >> and forget children, adults are muching off monday and dad now new survey from nerd wallet finds paent after adult children are covering or have covered some of their experiences even it's on cases extra help could be costing parents more than a quarter million dollars in loss retirement savings. that's business, i'm neal cabuta. cabuta. ♪ ♪ because everyone likes easy. sure do. because everyone is on the go. because we all like to save energy, but sometimes we slip up. reaching up. shhh. because sometimes we want it cool at night then toasty in the mornings. introducing the easy to use, easy on the wallet and the eyes, nest thermostat