on this topic, andrew ross sorkin talked to prince this morning, who's done very well since the electiongdom holdings, about how much tax reform is factored into this market listen to what he said >> let me quote the treasury secretary of the united states, mr. mnuchin. he said if there's no tax reforms, the market will tank. he said that, i'm quoting him. >> is that what you believe? >> it's all a bet right now on tax reforms, clearly tax reform, 35% to 20% on the corporate tax, going down, so inevitably profits will go up. i think there's a big bet on that, obviously, but clearly there's a lot of optimism in the united states. >> there is a lot of optimism, jeff, you can't deny that fact investors are in good spirits. how much is factored in when it comes to tax reform and is it in the earnings expectations for as soon as next year? >> sara, you make a good point i don't think it's in earnings expectations, at least that's not what i'm seeing. however, we have seen a rally in some of the sectors most sensitive to changes in tax rates. sectors like financials pay something close to the

a big thank you to andrew ross sorkin.ou can see him monday through friday on "squawk box" and then join me here. oh, you brought butch. yeah! (butch growls at man) he's looking at me right now, isn't he? yup. (butch barks at man) butch is like an old soul that just hates my guts. (laughs) (vo) you can never have too many faithful companions. introducing the all-new crosstrek. love is out there. find it in a subaru crosstrek. now that we have your attention... capri sun has four updated drinks. now with only the good stuff. do you know how to use those? nope. get those kids some new capri sun! >>> good day to all of you. i'm alex witt here in new york. it's 1:00 in the east and 10:00 a.m. out west. some scary moments in london. a car rams into pedestrians fueling fears in this times of terror. >>> he's at it again, president trump reaching out to the most powerful democrat on capitol hill, so what does he want? >> the issue is that tillerson, everyone in d.c. essentially sees him as a lame duck secretary of state. >> next

and billionaire investor mark cuban, there he is with our own andrew ross sorkin we'll join them right after this u n't this is a jam-packed show yowowant to miss much more "fast money" after this but some people still like cable. just like some people like banging their head on a low ceiling. drinking spoiled milk. camping in poison ivy. getting a papercut. and having their arm trapped in a vending machine. but for everyone else, there's directv. for #1 rated customer satisfaction over cable switch to directv. call 1-800-directv. [phhello.ng] hi, it's anne from edward jones. i'm glad i caught you. well i'm just leaving the office so for once i've got plenty of time. what's going on? so those financial regulations being talked about? they could affect your accounts, so let's get together and talk, and make sure everything's clear. thanks. yeah. that would be great. we've grown to over $900 billion in assets under care... by being proactive, not reactive. it's how edward jones makes sense of investing. >>> welcome back to "fast money. we're headed now to beverly hills. andrew ross sorki

i'm becky quick along with joe kernen and andrew ross sorkin.ek was a strong one for stocks dow was up by 100 points over the course of the week this morning looking at green arrows with the dow futures up by 34% nasdaq indicated to open up by 14 points. the s&p indicated to have new data that is well above forecast. it

i'm becky quick along with joe kernen and andrew ross sorkin.h anniversary of the black monday market crash. back on october 19, 1987 the dow dropped 508 points doesn't sound like much but that was nearly 23% at today's level that would represent a drop of more than 5,000 points on the dow. you can imagine how that must have felt to people at the time. throughout the show we'll be talking about the differences and similarities between the markets then and now and whether something like that coul

i'm becky quick along with joe kernen and andrew ross sorkin.ning us for this hour is ambassador ed burns. great to have you. >> great to be here. we have a lot to talk about. let's look at u.s. equity futures. as joe mentioned, the dow crossing 23,000 for the first time ever during yesterday's trading session. it ended up closing just below 23,000 as you can see this morning the dow is indicated up by 65 points, which would put it well above 23,000 s&p futures indicated up by 2 1/2. the nasdaq up 6 points the dow

andrew ross sorkin brings us that interview from saudi arabia it's monday, october 23rd, 2017.ow. ♪ ♪ >>> live from new york, the city that never sleeps. this is "squawk box. >>> good monday morning, everybody. welcome to "squawk box" here on cnbc we are live from the nasdaq market site in times square. i'm becky quick along with joe kernen andrew is in saudi arabia this morning. he got unprecedented access to saudi's aramco we'll have an exclusive interview with the ceo in a moment then at 7:00 a.m. eastern principles alwaleed, the prince of the king done holding company will be joining us for an entire hour. >>> take a look at this, the u.s. equity futures indicated higher once again. in all the records we've

i'm becky quick along with joe kernen and andrew ross sorkin. look at strong gains for the futures. the dow indicated up by almost triple digits. looks like we'll open up 99 points if we open here s&p indicated up by six points after both the s&p and the dow set new records once again yesterday. we'll keep an eye on all of that on this last trading day of the

the president weighing in and saying that's not going to happen let's get back to riyadh andrew ross sorkinalawaleed andrew >> thank you, becky. we are do you say to yourself is this going to continue do you think there's going to be a hiccup along the way as an investor, how are you thinking about it right now? >> he just said that if there's no tax reform, the market will tank >> will tank >> he said that. i'm just quoting >> is that what you believe? >> there's a bet on tax reform reduced tax from 35% to 20 on the corporate tax going down also inevitably companies go up, and the valuation could go up also i think there's a big bet on that, but clearly there's a lot of optimism in the united states we've seen how the north korean affair is not afting much more market >> you believe the tax reform is baked in right now >> yes, it's baked in. for sure >> if we get tax reform, is there still more to go >> i never look at the market in general. i just look -- i'm very much company-spisk. we look at certain companies, the valuation, and the future expectations, the cash flow, and the value, et

he told andrew ross sorkin he's not a fan. >> i just don't believe in the bitcoin thing. think tell enron in the making. i just don't believe it completely. >> because? >> it doesn't make sense it's not under the supervision of any -- or any other central bank. i just don't believe in it at all. >> enron, of course, the prince was referring to the massive accounting fraud that tonight enron, the energy trading company into bankruptc 2001. >>> white the prince and others are skeptical of bitcoin it's getting buzz due to the at the recent surge, but it's had a long effort to get it to purchase things. diane olick has the story for us tonight. >> you see it in some restaurants and in some retail. now bitcoin is buying into real estate. over the summer, a societys by's agency in austin was behind the first home sale in texas. >> we knew that bitcoins, crypt occurrence sit, it has an exchange rate. it ce exchanged for u.s. dollars, so the challenge, which actually wasn't all that challenging iso figure out -- >> they turned to bitpay, because the seller, a custom homebuilder d

no collusion in all caps, as he likes to do. >> meanwhile, our andrew ross sorkin getting rare accesse largest public company in the world. got an inside look at saudi aramco in saudi arabia >> one of the highlights of my trip to saudi arabia last week was my visit to saudi aramco's headquarters where we were giving rare access to the world's largest company and went places no camera crew had gone before moments after landing in riyadh, we jumped on another plane as we made our way to the empty quarter, it was remarkable all you could see was sand until all of a sudden, a huge oil and production facility in the middle of the desert >> welcome >> thank you >> one of the most striking things to see inside this oil and gas facility was an animal reserve. aramco trying to bring back wildlife and balance the ecosystem around this facility for the first time ever, aramco allowed our cameras inside the company's command center from this one room, aramco can control and manage and literally turn on and off with a switch the production facilities that produce over ten million barrels of oil ac

we're live at the nasdaq market site in times square i'm andrew ross sorkin along with joe kernen andelissa lee. joe wore an orange tie today in honor of halloween >> penelope's birthday >> penelope's birthday becky has the day off. futures this morning, things are looking up green arrows across the board. nasdaq up about 14 points. s&p looking to open about 2 1/2 points higher. overnight in asia. the bank of japan held interest rates steady the nikkei closed flat hang seng slightly lower shanghai composite slightly higher in europe, germany is closed today. so, you don't need to worry about that everything else marginally in the green. a bit better than marginally in the green. quick look at crude. wti trading now at 54.17. >>> facebook says 126 million americans may have seen russia-linked political posts during the 2016 political campaign that's half of all eligible u.s. voters, far more than facebook disclosed. twitter raised the number of accounts linked to russian operatives by ten fold google said advertisers spent $4700 during the campaign. all of this as executives from faceb

i'm becky quick along with joe kernen and andrew ross sorkin. let's look at the u.s. equity futures. stocks closed higher yesterday after we got those minutes from the nafederal reserve suggesting they think everything will withstand another rate hike coming in december stocks closing up. s&p closing at a record close. the dow up about 40 points yesterday. this morning a bit of giveback with the dow futures down about 8 points in europe, the nikkei up to another record high, 20,954. hang seng ended higher, up about a quarter percentage point shanghai composite was flat. in european trading, things are barely changed the dax and ftse slightly higher cac down about 0.1%. italian stocks down as well, but in spain stocks are slightly higher checking out wti, still above $50 a barrel sitting at $50.84 a barrel >>> we're following a developing story out of northern california deadly wildfires burning unchecked there. officials say 23 people have died from those fires. more than 3500 structuring have been destroyed leaving hundreds missing in chaotic evacuations firefighters

i'm becky quick along with joe kernen and andrew ross sorkin. you are look at strong gains for the futures. the dow indicated up by almost triple digits. looks like we'll open up 99 points if we open here s&p indicated up by six points after both the s&p and the dow set new records once again yesterday. we'll keep an eye on all of that on this last trading day of the week look at what happened overnight in asia. the nikkei eking out another gain a gain of 9 points, but that's the 14th day in a row that we've been looking at gains for the nikkei these are the highest levels we've seen in 21 years nikkei closing at 21,457 the hang seng with a gain of 1.17%. and the shanghai up by 0.28% the dax is up, the cac in france is up by 0.21% spain is up, but just barely look at crude oil snapped a four-day winning streak. it is still above $50s a b s a >>> on the wall street agenda just one piece of economic data, september existing home sales out at 10:00 eastern time. we'll watch that carefully after getting some week housing numbers lately fed chair jan

i'm becky quick along with joe kernen and andrew ross sorkin.t week was a strong one for stocks dow was up by 100 points over the course of the week this morning looking at green arrows with the dow futures up by 34% nasdaq indicated to open up by 14 points. the s&p indicated to have new data that is well above forecast. it was spurred by a year long slide. the hang seng was up by 3/4 of a percentage point shanghai stocks closed down by 1/3 of a percentage point in japan, the nikkei higher once again. another 100 points gain of half a percentage point. trading at 21,255. >>> in europe there is early trading taking place there are modest advances. it looks like the dax is the biggest gainer we'll continue to keep an eye on that. >> we're watching a developing story in the oil market. crude and brent, they are moving higher on news that iraqi troops have seized parts of oil rich kurdistan. they're moving into parts of the city of kirkuk the u.s. has supplied and trained iraqi federal forces and kurdish forces both have been fighting the islamist s

andrew ross sorkin is live at the saudi vision summit. very special guest, but the little engine that could the market another 140 points again we're already at 23 and change it's nuts. >> it may very well be >> saying hello. where do you think we are? to some degree, for you to succeed, i imagine you have to hope that some of the -- at least the way the equity world works, that it actually has to go down. >> well, we do like disruption, andrew that is absolutely correct we like either disruption at the market level, such as when bank debt was being sold by commercial banks or when the mortgage market was melting down, et cetera, or we like disruption in it individual companies, when there are bankruptcies, when there are distress situations. a lot of the disruption we have right now because it's such a bullish market because the market itself is anything but disrupted. it really takes place more in m&a where people take advantage of low prices -- or take advantage of high prices, low yields to issue debt or issue stock, and there are a l

i'm andrew ross sorkin along with joe kernan and becky quick.ning as we count down to many news-making events. nelson peltz will discuss the p & g proxy battle fa fight really heating up, and it is quite close at this point in terms of where the vote stands later in the show the september jobs report will be out. we'll have the numbers and market reaction after the jobs report dallas fed president rob kaplan is going to join us with steve liesman. first right here on cnbc it is a big morning on "squawk." we have to make sure it's locked right here meantime, check out the futures this morning ahead of those jobs numbers. of course, all this could change in just a little bit, but the dow right now would open about 15 points higher nasdaq up about ten points, and the s&p 500 looking to open off. we'll just call it -- i like it call it -- just marginally off a couple of headlines making news this hour shares of retailer costco under pressure the retailer did beat street forecasts both the top and bottom lines, but profit margins shrank there was a c

i'm becky quick along with joe kernen and andrew ross sorkin. joining us for this hour is ambassador ed burns. great to have you. >> great to be here. we have a lot to talk about. let's look at u.s. equity futures. as joe mentioned, the dow crossing 23,000 for the first time ever during yesterday's trading session. it ended up closing just below 23,000 as you can see this morning the dow is indicated up by 65 points, which would put it well above 23,000 s&p futures indicated up by 2 1/2. the nasdaq up 6 points the dow yut perfooutperformed yy because of some strong gains from unh, johnson & johnson and goldman sachs. we will keep an eye on futures this morning as we continue to get the earnings reports >> ibm today >> let's look overnight in asia. we have seen japan close higher. you're looking at a gain of almost 27 points, 21,363 hang seng closed marginally higher the hang hishanghai was up by a quarter. in europe, in some of the early trading, the dax is the leader, up over 0.6% cac up by a half percent the ftse is up by a third of a percenta

we are live from the nasdaq market in times square i'm becky quick along with joe kernan and andrew ross-sorkinwe'll look at u.s. equities on the friday the 13th. dow futures are up 28 points the nasdaq futures up by 7:00. the s&p futures up by 1.5. you can see it bouncing back by almost the same amount but there were big losses within particular areas, especially the telecoms at&t had the worst day since 2008 >> telecom or media. >> the telecom sector got hit particularly hard. >> at&t points out their phone start, the turn is lower >> they are going to get their numbers. >> and everybody is trying to move to some of these issues >> i would say it was more media, but it is all the same, i guess. telecom and media are the same now. >> tmt. >> thank you tmt. new network? >> no. >> let's take a look at what happened overnight in asia you saw the japanese stocks this week have been sitting at new records just about every day that continues once again today with the nikkei up another 200 points this is now putting the nikkei at its highest close since september of 1996. 21,155 hang seng slightly hi

one before >>> plus, cord cutting, streaming wars and the battle over content that's just andrew ross sorkin'sriday night he'll speak with the ceo of hbo all coming up in the second hour of power lunch next. i'm only in my 60's. i've got a nice long life ahead. big plans. so when i found out medicare doesn't pay all my medical expenses, i got a medicare supplement insurance plan. [ male announcer ] if you're eligible for medicare, you may know it only covers about 80% of your part b medical expenses. the rest is up to you. call now and find out about an aarp medicare supplement insurance plan, insured by unitedhealthcare insurance company. like all standardized medicare supplement insurance plans, it could save you in out-of-pocket medical costs. call now to request your free decision guide. i've been with my doctor for 12 years. now i know i'll be able to stick with him. [ male announcer ] you'll be able to visit any doctor or hospital that accepts medicare patients. plus, there are no networks, and virtually no referrals needed. see why millions of people have already enrolled in the only me

i'm becky quick along with joe kernen and andrew ross sorkin. it's time for the global markets report check out the u.s. futures things are flat. but this comes just after the dow set a new record level yesterday. you can check it out right now the s&p futures are down by just under 2 points. dow futures barely positive. the nasdaq down by 5 points. in asia, the nikkei closed at another high the highest level we've seen in about 21 years up 57 points after making those gains the day before now sitting at 20,881. hang seng was down by a third of a percentage point the shanghai was up by just under 0.2% in europe, you'll see that in the early trading that's already underway, things are mixed the dax is relatively flat the cac and ftse are weaker. but spain has picked up, 1.2% gains there after the catalonians did not go ahead and declare independence let's look at what's happening with crude oil prices. yesterday another gain in crude oil prices this morning up 41 cents now talking about wti above $51, 51.33. >> a couple other stories we're watchi

andrew ross sorkin has been there and joins us this morning.ey, andrew. >> reporter: hey, carl, a big conference going on here with many of the biggest names in the world here one of whom is a long time guest here on cnbc, larry fink is here from black rock. we had an interesting conversation was going on in the rally taking place in the market his answer about what's driving it may surprise you. >> i think much of the market rally has been based on this global growth effort i'm talking about -- >> not based on policy. >> no, policy -- >> or even the idea of policy and what may come. >> i think policy has proven to be disappointing so far. i think if we get tax reform, which i think we're going to get, whether it's in the fourth quarter or first quarter, i think we're going to get it. i think the market will say another leg up >> mr. fink also made headlines and almost pause in the room during the panel this morning when he said over the next ten years the average investor should expect a return of only 4% we had that and a lot of other news, c

andrew ross sorkin just wrapped up a panel in the saudi future initiative in riyadh, which included christine lagarde and larry fink they said we are witnessing a shift in politics and investment >> that order will certainly change but will be rooted in a sense of community, in a sense of culture that is badly needed for us, human beings, individuals that need to relate to a sense of belonging. to that's broadly brushed. my key message is if don't address those issues now, we may move into a darker scenario. >> populism is going to grow and grow it was interesting to see how the audience chose how technology will change the world. but technology will create more populism because technology will help many, but let's be clear what technology will mean is less human input in the manufacturing of items >> populism is so important to pause on for a minute because it really potentially challenges the formula which the global has benefited from over the last 30, 40 years if you think about populism being essentially about the system not working for a big part of the population, rewriting the rules,

. >>> andrew ross sorkin caught up with softbank's ceo, masa son and asked him what future of vehicle automation looks like. >> the usage of the vehicle is going to change. it was a premise that everybody has to own the car no we get rides on taxi, bus, train. to it just is extending with the power of internet a little more convenient, then later on, autonomous driving is going to happen >> final question, 2050, are robots going to be better investors than you >> in many of the subjects compared to the index and so on, they will be definitely smarter than us. however if you have to envision ten years, 30 years later some -- at least some human listen have a better imagination than them. so it's not the end. the power of brain has no limit. the imagination that we can have has no limit so we are also going to improve our imagination and our feeling, gut feeling. if you watch the "star wars" movie, don't just look at what you can see. listen to the force. >>> let's come back to corporate earnings we had a whole lot of them this morning. munich re saying the impact of hurricane season in

i'm becky quick along with joe kernen and andrew ross sorkin. let's look at u.s. equity futures.ngs are looking slightly higher after yesterday actually watching stocks decline ever so slightly but it was something to watch. the nasdaq was down for the first time in ten sessions down by ten points and the dow and the nasdaq hit record intraday highs before receding and giving back some ground this morning the dow futures are indicated up by 40 points. s&p futures up by four the nasdaq indicated t

i'm becky quick along with joe kernen and andrew ross sorkin. let's look at the u.s.y futures. stocks closed higher yesterday after we got those minutes from the nafederal reserve suggesting they think everything will withstand another rate hike coming in december stocks closing up. s&p closing at a record close. the dow up about 40 points yesterday. this morning a bit of giveback with the dow futures down about 8 points in europe, the nikkei up to another record high, 20,954. hang seng ended higher, up about a quarte

i'm becky quick along with joe kernen and andrew ross sorkin. the global markets report check out the u.s. futures things are flat. but this comes just after the dow set a new record level yesterday. you can check it out right now the s&p futures are down by just under 2 points. dow futures barely positive. the nasdaq down by 5 points. in asia, the nikkei closed at another high the highest level we've seen in about 21 years up 57 points after making those gains the day before now sitting at 20,881. hang seng was down by a third of a percentage point the shanghai was up by just under 0.2% in europe, you'll see that in the early trading that's already underway, things are mixed the dax is

we are live from the nasdaq market in times square i'm becky quick along with joe kernan and andrew ross-sorkinquities on the friday the 13th. dow futures are up 28 points the nasdaq futures up by 7:00. the s&p futures up by 1.5. you can see it bouncing back by almost the same amount but there were big losses within particular areas, especially the telecoms at&t had the worst day since 2008 >> telecom or media. >> the

we're live at the nasdaq market site in times square i'm andrew ross sorkin along with joe kernen andsa lee. joe wore an orange tie today in honor of halloween >> penelope's birthday >> penelope's birthday becky has the day off. futures this morning, things are looking up green arrows across the board. nasdaq up about 14 points. s&p looking to open about 2 1/2 points higher. overnight in asia. the bank of japan held interest rates steady the nikkei closed flat hang seng slightly lower shanghai composite slightly

. >> i wanted to touch on one of the headlines that came out of the interview andrew ross sorkin didith the ceo of saudi aramco, he said the depth of the u.s. shale reserves stateside won't last and that the u.s. will wake up to that and saudi arabia and the likes of other big opec producers with big crude reserves will be around for much longer. is that something you agree with >> i think we've seen the u.s. shale is a much bigger resource than people anticipated. i think it's recognized by saudi arabia and other producers that u.s. shale is an important dynamic part of the market there's some discussion about how large the whole permian basin is in terms of other fields it's a different cycle it takes continual investment and a lot of wells, unlike saudi arabia but i think the president of saudi aramco, amin nasser's point is that saudi arabia has long-term reserves and will be the low-cost producer for a long time >> when we think about the aramco ipo, there was a lot of talk about whether that was still on track what oil price do you think is crucial for them to make sure this go

i'm becky quick along with joe kernen and andrew ross sorkin. dow all closed at record levels. the nasdaq was higher for the fourth out of the last five sessions this morning things are flat dow futures and nasdaq slightly higher the s&p futures are fractionally lower. overnight in asia, records set there as well. in japan, yet another record close for the nikkei the record for about 21 years. this is up for the 11th straight session. it looks like the nikkei closed up by 80 points to 21,336. hang seng was up just slightly the shanghai was

i'm becky quick with joer c ker and andrew ross sorkin the pictures were great. >> oh on the dunes >> >> that was pretty cool, and they're filming it, too. now they have film showing you how they took the shot some true behind the scenes magic right there. so it was a great trip it was fascinating to see not just that, i mean, being there was remarkable but independently seeing the transformation of what appears, it felt like there was a transformation happening >> the 2030

by andrew ross sorkin who is out in riyadh leading some amazing coverage out there in the saudi desertworld's business leaders follow the money. it's a detailed look at some of the stuff he's seen and experienced on the ground, this big push from saudi arabia to diversify the economy. the line of many that stood out to me. there are continuing questions about whether the kingdom's investments in new industries and businesses will be able to produce the kind of returns that oil has for generations here the question for me, having been to riyadh five or six times in my life, is this diversification coming way too late. if you look at the likes of dubai far ahead thof them, will saudi arabia be able to generate these successes this we switching to a cnbc exclusive that andrew did, he sat down with saudi aramco's ceo. here's what he to say about electric vehicles. >> i think electric vehicles are making good progress if you look at the number of let trick vehicles in 2016, almost 2 million vehicles electric vehicles. 700,000 out of the 2 million is hybrid so there is an oil-based engine th

i'm becky quick along with joe kernen andrew ross sorkin is back been traveling all week. >> a lot ofng, on the west coast, boston >> makes you appreciate being back it is jobs friday today. the september employment report is out at 8:30 a.m. eastern time non-farm payrolls are forecast to rise by 80,000. that's because of the impact of hurricanes harvey and irma the unemployment rate is expected to hold steady at 4.4%. u.s. equity futures, dow futures indicated up

andrew ross sorkin is off.t to be back. >> by the way, happy holiday everybody. columbus day today. >> right, joe? >> yes yes, it is yes, it is not afraid to say it. >> no. columbus day bond markets are closed, but the stock market's open. in fact, let's take a look at the u.s. equity markets this morning. you will see it looks like things are slightly positive pretty close to flat line. dow futures up by just over 3 points s&p futures up the nasdaq up by 7 1/2 this all comes after another positive week. the s&p 500 and the dow closed slightly lower on friday again, both of those avera

thank you softbank ceo in riyadh at that saudi vision summit where he sat down with our own andrew ross sorkinittle bit ago who asked about uber and future of artificial intelligence. >> the usage of the vehicle is going to change. it was a premise that everybody have to own the car. no, we get ride on taxi, bus, and a train. so just extending with the power of the internet, a little more convenient and later on autonomous driving is going to happen. >> final question. 2050, are robots going to be better investors than you? >> in many subject compared to the index and so on, they will be definitely the smarter than us however, if you have to envision ten years, 30 years later, at least some human will have a better imagination than them so it's not the end. the power of the brain is no limit. the imagination that we can have has no limit so we are also going to include our imagination and our feeling, gut feeling. so if you watch the "star wars" movie, don't just look at what you can see. listen to the force. >> listen to the force he went on to talk about basically the curve with which robots

his colleague, andrew ross sorkin said just before the election. what happenses to the markets if donald trump wins. the conventional wisdom right off the bat, the stock market would fall precipitously. melissa: so close. david: our advisors are worth listening to. fox news contributor gary kaltbaum, from kaltbaum capital management. kevin kelly, recon capital. gary, why do these people have jobs? melissa: yeah. >> i don't recall in the last couple months paul krugman talking about his wonderful prediction. i remember it so, like it was yesterday, about the markets never coming back. look, it is all politics with these people. republican bad, democrat good. and that is his job. if you read his op-eds over last year, all about the end of the world coming because of the new president. not so sure that is going to happen but it is typical and not surprising. david: kevin, the reason we have gary here because you guys know how the works because these guys are academics. they don't know how markets work in the marketplace. they have no idea how is affec

from the "new york times," andrew ross sorkin this morning, how valuable is a unicorn?be not as much as it claims to be. for more we're joined by l2 founder and author of "the force" scott galloway at post 9. great to see you >> thanks for having me. >> i wonder as we look at the dow hitting the records, the four companies that you write about, amazon, apple, facebook, google together worth more than $2.5 trillion and these private companies trying to stretch the definition of what their private valuations are, what's the message to take out of that in terms of psychology? is the market saying those four and companies like them, it's game over for their sectors, their segments, and don't even bother, and what's it mean for the private companies trying to jostle for attention >> so there's a reason why there's only a third as many publicly traded companies as there used to be and it's better to be a private company, because this valuation number is hard to even call it a number. it really is an illusionist trick. >> for the private company >> because i'll invest in any s

panel on artificial intelligence at the future investment in the conference in saudi arabia and andrew ross sorkin from the new york times had a very rare opportunity since if you have we have a little announcement i've never interviewed anybody like that before and i should say some of it was planned but not completely and we just learned sophia i hope you're listening to me that you have been now awarded what is going to be the first saudi citizenship for a robot. i would to thank very much the kingdom of saudi arabia i am very honored and proud for this unique distinction this is historical to be the first in the world to be recognized with the citizenship. so this makes saudi arabia the first country to get the same status reserved for humans now aside from hoping to draw some positive publicity by promoting new technological developments the saudi crown prince mohammed bin solman also plans to diversify the economy beyond oil by building a futuristic city called new home projects this is worth five hundred billion dollars but the stunt did receive a strong backlash people very quick to questi

i'm becky quick along with joe kernen and andrew ross sorkin. let's look at u.s. equity futures.hings are looking slightly higher after yesterday actually watching stocks decline ever so slightly but it was something to watch. the nasdaq was down for the first time in ten sessions down by ten points and the dow and the nasdaq hit record intraday highs before receding and giving back some ground this morning the dow futures are indicated up by 40 points. s&p futures up by four the nasdaq indicated to open up by 15 points let's look at overnight in asia. the nikkei going strong closing at the highest level since 1996. a gain of 132 points that puts the nikkei at 20,823 hang seng was up by 0.6 pfr%. the shanghai was up by a quarter percentage point in europe, you will see that at least in the early going things have been mixed. these are modest moves in spain, stocks are under pressure down by 0.9% this is coming as some concerns arise in catalonia. we'll talk more about that in a moment >>> we have news just out from the national federation of independent business, showing small bu

i'm becky quick with joer c ker and andrew ross sorkin the pictures were great. >> oh on the dunes >> there it is >> that was pretty cool, and they're filming it, too. now they have film showing you how they took the shot some true behind the scenes magic right there. so it was a great trip it was fascinating to see not just that, i mean, being there was remarkable but independently seeing the transformation of what appears, it felt like there was a transformation happening >> the 2030 plan >> but really and meeting. >> opening up society. >> what we were talking about just now, we met all sorts of women who were saying i've owned a car for a decade but i have a driver who takes me to and from work and i can't wait to learn how to drive lot are starting to learn how to drive but in terms of how the culture is moving. >> saying publicly they are looking to are a more moderate society essentially. >> by the way -- >> more moderate form of islam >> this is not without controversy though >> i'm sure. >> there is a huge other side. he's pushing through, trying to push through this transfor

i'm becky quick along with joe kernen and andrew ross sorkin. yesterday the s&p 500, the nasdaq and dow all closed at record levels. the nasdaq was higher for the fourth out of the last five sessions this morning things are flat dow futures and nasdaq slightly higher the s&p futures are fractionally lower. overnight in asia, records set there as well. in japan, yet another record close for the nikkei the record for about 21 years. this is up for the 11th straight session. it looks like the nikkei closed up by 80 points to 21,336. hang seng was up just slightly the shanghai was slightly weaker looking at europe this morning, the early trading taking place, at least at this hour things are flat there the dax is slightly higher, the cac and ftse are slightly lower. spain up by a tenth of a percentage point crude oil prices were up yesterday to a two-week high, up at 51.87 this morning those gains continue with wti for november delivery up by 21 cents to 52.08. >> wow dow component united health is reporting. stock has been on a tear for years, righ

i'm becky quick along with joe kernen and andrew ross sorkin.ay marks the 30th anniversary of the black monday market crash. back on october 19, 1987 the dow dropped 508 points doesn't sound like much but that was nearly 23% at today's level that would represent a drop of more than 5,000 points on the dow. you can imagine how that must have felt to people at the time. throughout the show we'll be talking about the differences and similarities between the markets then and now and whether something like that could happen today. let's get to the global markets report u.s. equity futures right now are looking a little bit lower dow futures indicated down by 68 points this comes after the dow closed above 23,000 for the first time ever and it did so in a powerful way with the dow gain of 160 points yesterday. right now it looks like the nasdaq is indicated to open down by 31 points the s&p futures are indicated down by 9 points overnight in asia, china reporting third quarter gdp growth of 6.8%, in line with expectations, but you can see a pull back

well, since you -- if you want -- >> 85, 82, 74, 28, 132 >> if you want to go down that list, andrew ross sorkin had a piece in the "times" taking a look at two years of performance. through this whole period of time, they were underperforming by the end of that two year period of their own holdings and you remember at the time we looked alwat dupont, nobody was taking a look at the continues of their underperformance. people make a big deal about heinz when they never got the margins that they said they would get. and kemchura, throw they loadedp with so much debt, they dove it drove it into bankruptcy if this was any other director, they voonts hahaven't supportedn of a track record. i'm on the board of the national council on aging i saw bob dylan in concert and i saw paul mccarts any ccartney it i don't know what their age limits are,but why should it b lifted uniquely for this man why should he be able to go above the new york stock exchange limits on numbers of boards in which you can sit? and in fact if he wants a seat, why didn't he buy enough stake if he wants to be one of is 1 1 people

. >>> andrew ross sorkin sat down with the saudi prince of kingdom holdings earlier this morning.ing saudi aramco ipo, and what going public will mean for the kingdom. >> i call the nuclear weapon really of going public with ipo of aramco. this is safe for saudi arabia because saudi arabia right now is living on how, on oil and investing some of the money coming from oil and by going down from reserves and debt, but that's very important, this 5% of going public, because this will give the government, depending on the valuation, somewhere between $75 and $1 billion. locally giving more growth and jobs in the market this is a very good idea no one talks about this idea that if you go 5%, there's nothing to plateau you go another 5% the next year and the third year and fourth year, depending on the situation. >> where do you think the market is do you say to yourself, this is going to continue? do you think there's going to be a hiccup along the way as an investor, how do you think about it right now >> they said if there's no tax reform, then the market will tank >> will tank >> ye

tesla by the way, these plans come at the same time that prince alwaleed bin talal talking to andrew ross sorkinrain ya was asked a question, look, would you buy into tesla at this point? so far he's saying it's not really on my radar >> i'd rather not comment on that because maybe some people believe the value is right, it's not for me to enter that price it's too exuberant for me right now, obviously. >> too exuberant i want to show you guys this chart here this is shares of tesla versus crude oil going back three years. back three years ago you were to say, boy, who do i buy into more do i buy into tesla or buy into the idea oil prices are going to rise and it's a better investment no comparison at all, tesla has been hands down the better investment over the last three years. >> i love that word, though, exuberant, knthough, right? >> i was listening to the conversation earlier, phil he made the point, the prince did, that tesla was first in electric vehicles and perhaps that's why it's been so beloved. he said everybody is doing it now, ge, or gm, and bmw, he went nationally, internationall

. >> let's get to riyadh andrew ross sorkin is at the saudi vision summit. he joins us with a special guest. i'm told, andrew, that you can have a drink in hotels i didn't realize that. so you -- it's not totally -- is that true? >> i don't know if that's true i have not had that experience thus far but i have had some amazing apple juice. i've had some amazing watermelon juice. they do some extraordinary things with juices here. smoothies. you know i like smoothies. so we've been having -- >> wow >> dates >> you've had a date >> dates the food >> oh, my god. you're on national tv, your wife could be -- >> nonetheless -- i know i know >> dates >> we have ronald o'hanley here of state street global advisers. we can talk to him about dates, watermelon juice as well you have been here a lot you know the answer, can you have alcohol in hotels. >> not that i know of. i have never seen alcohol in a hotel here >> i've not seen that either you are here there's a lot going on here. a lot of conversations about the markets, the global economy, what's going on in saudi

andrew ross sorkin is off today.ma martin franklin you know him maybe from jarden i know you know some of his products that he has been involved with. i have -- did you see that thing? >> shoe fly. >> shoe fly. i have a -- with my picture on it did you get one of those >> i did with your picture on it. >> with my picture on it >> yeah. >> good. >> i have one in my kitchen with pictures of both of you. >> we're business news network, but there are times where business news doesn't really seem appropriate, and this is one of those days. you heard at the top of the hour, breaking news. >> at least 50 people are dead and 200 injured. police say the shooter targeted people attending an outdoor concert featuring country music stars, and jason aldine was actually on stage at the time. the shots were fired from a window of a hotel room on the 32nd floor of the mandalay bay resort, which was overlooking the concert, and the suspect had what sounds like some type of automatic weapon it sounds like some type of automatic weapon

andrew ross sorkin is off. guy adami is with us. >> great to be back. >> by the way, happy holiday everybody. columbus day today. >> right, joe? >> yes yes, it is yes, it is not afraid to say it. >> no. columbus day bond markets are closed, but the stock market's open. in fact, let's take a look at the u.s. equity markets this morning. you will see it looks like things are slightly positive pretty close to flat line. dow futures up by just over 3 points s&p futures up the nasdaq up by 7 1/2 this all comes after another positive week. the s&p 500 and the dow closed slightly lower on friday again, both of those averages closing up for the fourth week in a row the nasdaq once again closing at another high and let's take a look what's been happening in asia overnight markets in japan and south korea are closed for public holidays. you did have the china markets open with the shanghai markets being closed after a week long holiday. that index was up by .7 of a percent. in europe this morning in some of the lerl i tr

what was paul krugman at "the new york times" and andrew ross sorkin of cnbc, what were they saying?ld collapse when trump was elected. rachel maddow was saying the same thing, cnn. if you followed them, you lost a lot of money. this is journalistic malpractice, their thoughts are not facts, their opinions are not facts. they literally have cost people money. it is journalistic mall practice, the analysis that they did. stuart: could you be a little stronger? >> let me just give you a line from mr. krugman. he said, quote: we are very probably looking at a global recession with no end in sight. what did peter kiernan just tell us? 34 economies -- 43 economies growing -- stuart: we were on the air election night, and peter kiernan, what did you say? >> i said it was a buying opportunity. basically what happens is you have people practicing stock investing without a license. don't watch 'em, they'll get you in the wrong place. >> well, those same types of individuals who we aforementionedded said the same thing about brexit, that the markets would collapse, right? and it didn't happen.