offering was larger than expected raises 620 million and makes it the largest biotech ipo ever bertha coombswatching this as well? we're going to get to her a little later nice to see that finally opening for trade. >>> all right. we're looking at the cow off about 330 points -- dow off 330 points "squawk alley" continues next. the future of technology investing lies beyond the tech sector. it's about technology transforming every sector. ♪ at pgim, our bottom-up approach uses a technology lens to identify long-term winners. from energy... to real estate... to retail. finding such opportunities for alpha is the true value of active investing. and around the world, you have a partner in that pursuit. pgim: the global investment management businesses of prudential. the global investment management what do you look for i want free access to research. yep, td ameritrade's got that. free access to every platform. yeah, that too. i don't want any trade minimums. yeah, i totally agree, they don't have any of those. i want to know what i'm paying upfront. yes, absolutely. do you just say yes to ever

fornitly business report," i'm bertha coombs, new york. >>> coming up, the final push. >> it's the final few hours to shop for those christmas presents, but does the recent fawdawn in the stock market keep people awrom the malls? we'll tell you when "nightly busit" >>> with all of the talk of an economsl down, the consumer does not seem to be listening right now. the "wall street journal" citing mastercard spending polls that total u.s. retail sales with the exception of autos r more than 5% between november 1st and december 19th. and they're not finished either. it is mated -- estimated that 7% of shoppers hit the malls today and over the weekend. and we have more in crunch time. >> it's christmas eve and with gift giving just hoursay a certain type of opper is on a ll mission. men. >> i did some last minute christmas shopping for my t family. >> lnute shopping. >>mi? >> i shop my best when i'm under pressure. >> everything is last minute. >> the men they're >>ey want to wait until the last minute. es, when it comes to christmas shopping the biggest procrastinators are typically meccord

bob pisani, thank you. >> let's get to the nasdaq and bertha coombs.harp drop there >> we saw 1,000 new lows that's not something you see on a christmas eve shortened day of trading. a lot of big momentum and a lot of those lows coming in the large cap, including one of the largest capped, apple. you can look at that one it's down 36% from its high in october, back when it supported a market cap well above $1 billion. it continues to be the big drag here now down about 12% for the year, on pace for its worst yearly performance since the financial crisis apple is not the only one of the mega caps that was seeing new lows today a couple of them bounced facebook and also on pace for its worst year ever. down 42% from its highs. alphabet also bounced and managed to be relative out-performers, even there a fade going into the market close with about flthree components o the nasdaq 100 trading to the upside when the closing bell struck also among the losers, marriott, biotechs like gilead, gamers like activision, normally a great time of year for the gaming

let's head up town to bertha coombs at the nasdaq.or the nasdaq although it did outperform the broader market. >> yeah, relatively outperformed. we hit those all-time highs at the beginning of the year, the last one at the start of the quarter and it was just downhill from there. at the end we do see the nasdaq composite outperforming the major indices partly because large cap tech and the nasdaq 100 really was the outperformer not withstanding the problems with faang. the small companies really here that got beaten up especially small cap biotech. that was really the worst part of the health care sector this year. taking a look at those faang names for the last two, three years. these were the names that led us higher. this year among the big losers and big decliners, facebook and apple combined would have been -- if everything else stayed the same, would have left the nasdaq down 100 points for the year. but adding to that alphabet, slightly lower, they were not enough tooffset the other two names that did very well. that's a measur

dow up and s&p up 1% biggest movers of the day and bob pisani is on the floor and bertha coombs up atnasdaq bob, we'll start with you. >> reporter: off the highs and most of the big moves up, positive trade headlines, usual names. caterpillar, were at 127 and holding up here at 125 saying thing with boeing, another typical trade name we were 331 earlier, but just off of that. normal intraday trading and sitting right near the highs banks are rallying but not quite as much. in fact, u.s. banks, a lot are up about 1%. we still see new lows, wells fargo a new low and some other small community banks israel 52-week lows the bottom line, trade headlines. the huawei cfo being granted bail the china drafting a made in china 2025 replacement, positive and may surviving the brexit confidence vote would be a positive ten cents, price to 13, holding in there at 14.03, and, boy, a lot of happy people down here that that deal got done. >> guys, back to you the dancing stuffed animal little creatures outside the new york stock exchange for ten-cent music. let's send it up down to bertha coombs we'v

now let's get to bertha coombs with a look at today's nasdaq movers >> good morning, mike.eeing a bounce here across the board, particularly with tech names. they are moving higher and leading the nasdaq higher at this hour. we've got the s&p tech index, particularly semiconductors showing strength here in the earl live going. but they are both down for the year and for the quarter amazon has been one of the big behemoths and big impact stocks here on the nasdaq the nasdaq composite on pace to be down for the first year after breaking a six-year winning streak amazon expected to expand whole foods to make it easier to provide delivery in areas where they don't already have it amazon shares, however, having a horrible quarter year to date, still up nearly 30%. that's among the best of the f.a.n.g. names that's really helping to hold the nasdaq up so far this year among the worst is apple before that, let's take a look at apple for three months. looks like it's going to be its worst quarter since 2001 following september 11th, on pace for one of its worst years since 2008, sn

what's in store in bertha coombs with more. morning. >> good morning.ad been the standard bearer with the best performing sector coming into this quarter, but just going negative here today. sort of the last man stand ping apart from utilities that decline, there's a lot of uncertainty, but some is because we've seen some regains. take a look at the medical device makers. they're still up for the year among the best performers of the year part of it is because you've got a lot of names there that are high fliers. names like dexcon. that has a forward pe of 225 it's still up 88% year to date, but you can see the large pullback that's bigger than we saw with the market. abiamed, they were involved in heart pumps. they have a forward pe of about 22 none the less, ubs is one of the ones they like they say the demographics here are so important in terms of the ageing population. one area that has gotten hit and really been in the cross hair of the drug pricing problems has been the bio tech sector more so than the large cap pha ma down for the year. and real

some of the big fang names making a comeback after this morning's sell-off bertha coombs is following moves. >> we have a mixed market particularly when it comes to tech shifts and hardware have been leading the declines while the communications sector at times has actually edged above the even line, as we're seeing right now apple is the biggest drag, giving up all of the week's early gains, as its camera lens maker is the latest supplier to suffer slowing demand. a report at such, but bucking the trends are the fang names. netflix was the first to turn around, providing a bit of tech leadership, and then an upgrade of chinese gaming platform netty's which is helping those names buck the trends today. the gaming group has really beaten down all of them in bear market, ea and activision this morning bouncing off new lows. >> thank you we'll keep a close eye into the close. the relationship between the u.s. and china just got more complicated. the cfo of huawei arrested in canada and facing possible extradition to the u.s deirdre bosa is live with what we know at this hour deirdre. >>

so we are seeing the ripple effect here all across the board. >> all right bertha coombs, thank you let's get the trader's take. matt, how does it feel down there? >> well, you can see that it really turned around noon. we just lost buy side really what it was. you can take a look at many different reasons for it, whether the inverted bond curve or what we're expecting out of china rkt a china, but if there is for buy side, the sell side takes advantage. and that is why you are seeing the massive moves, 200 in really a minute or two. a 100 point rally that happened just before we got on air. so the market right now is very thin >> are we feeling anything like we are close to capitulation that is a lot of what technical an analysts have been saying, that we have not yet seen a day of capitulation even though we have seen volatility >> what a difference a day makes. last wednesday we were up 600 and we were talking about things were good and we couldn't find a seller in the building now suddenly around noon today we see all sellers and talking maybe capitulation it doesn't feel like we're g