brian sullivan is on assignment at the opec meeting.st your top stories stocks are in selloff mode futures pointing to a 460-point drop on the dow. a 47 point drop for the s&p, and 160 on the nasdaq. frank holland has your morning headlines. >>> huawei's global cfo has been taken into police custody in canada she's also the daughter of the founder of that tech giant this arrest is reportedly related to violations of u.s. sanctions. she's facing extradition to the u.s. china is calling for her release. we'll continue to follow this major developing story and bring you more as soon as we get it. >>> apple suppliers in asia are plunging today after taiwan's largan precision reported a more than 25% drop in revenue last month. largan makes camera lenses for smartphones. other companies are also falling sharply. >>> lam research's ceo is stepping down and the coo has been named as the new leader shares of lam, they are up almost a percent dom, back over to you. >> thank you very much for your headlines. let's check the other top headlines ou

i'm brian sullivan, we're live in opec's headquarters in vienna, austria. day two.is hoping for a production cut mike bradley joining us now on day two. your first meeting is an epic one this is historic we talked about the geopolitical stuff whachl stuff. what do we do? what is your company recommending clients to do and invest in and make money around all this volatility? >> it depends on the outcome of today, if we get 1.1, 1.2 million barrel cut, probably 24 hours ago that wouldn't be enough that the market would sell off today the sentiment is so low you will probably have a snap back so what have we been telling people we've been neutral really not too constructive. telling people to stay in sort of a low beta stocks, oil majors >> the exxons, the serve rchevrs >> yeah, correct that has not changed where we're not telling people to buy is oil service stocks just about any scenario we see there will be lower activity levels prices will not snap back too much higher from here. i think you'll see pricing for service as well as 2019 earnings coming down significan

i'm brian sullivan for melissa lee. your traders tonight pete najarian, tim seymour, brian kelly, guy adami this show brought to you by joseph a. bank tonight on fast trouble in the transports, the dune underperforming the broader market and could spell trouble ahead. we explain plus where is the apple bounce the stock ending the day flat despite the broader rally but gene munster says it's a double. he will be here to explain and defend the call. why is he so bullish we start with the market that can't seem to hold onto a rally. the dow surging more than 450 points at the highs, a trade deal seemingly within reach. but stop us if you heard in one before stocks cutting the gains midday. and then selling off hard into the close. we did end higher. but 300 points less than we were at the

i'm brian sullivan it looks like a happy friday on the street of dreams the futures market has been all over the map this week dous f dow futures up about 73 points all this coming after yesterday's incredible 900-point swing for the dow. we were down huge at one point then the market made a stunning u-turn to close higher the dow is up 3% on the week still down for the year, but up 3% on the year dow futures are indicating a mildly higher open >>> the bond market is moving a bit lately the ten-year yield has come up a tick 2.76 we'll end the year below 3% again. oil is another big story oil rose, fell, then came back we're up 2.35% to 45.66. if you're long oil, you're probably down. oil is down about 35 pr% in the last 90 days that's not a number that a lot of permian shald p iaian shale t to see let's go worldwide now in asia, japan and korea, they're smart. they're done for trading for the year it's been a tough year for japan, posting its first annual loss since 2011. the nikkei down 12%. korea seeing its biggest annual loss since 2008. china even worse, down 30% by the way, we'll h

brian sullivan is on assignment today.esterday the dow dropping nearly 800 points, a fall of more than 3% as you're watching this time lapse play out right now. traders won't have a chance to recoup losses today. u.s. markets are closed in honor of president george h.w. bush. there is no trading at the new york stock exchange, the nasdaq or the cme group all u.s. data is delayed except for the beige book that will come out at 2:00 p.m currencies and commodities are trading. overseas markets are open for business as you can so he the red arrows across the board in asia are carrying over. hong kong is taking it the worst. a sea of red across the board. the same in europe european trading, we are seeing the dax off, the same for the cac and the ftse 100 u.s. futures will trade until 9:30 a.m. eastern time >>> well have full team coverage of this global selloff let's kick it off with nancy hungerford live in singapore >> we did see broad-based selling in asia. no surprise if you consider the fall in wall street. sentiment did

>>> opec leaders meeting today in vienna, our brian sullivan is there. now with the latest hello again, brian >> reporter: hey, joe, yeah, the question here is very simple are we going to get a production deal or are we not the odds are we're going to get one, the consensus, 1.2, 1.4 billion barrels. basically saying well, there's a rick of no deal or perhaps the deal is smaller than expected. a lot can happen they're all meeting upstairs remember, it's about 2:00 local time in the afternoon, the more jittery people might get we're already seeing oil down about 3%, guys we are expecting some kind of a deal the problem is simple. there are countries who don't want to cut. and venezuela probably can't cut because their production keeps going down because of the rolling economic catastrophe that country is facing the challenge for the foreign minister upstairs, to come up with a deal that won't disrupt too much, maybe put a floor with prices if they make a deal, you know who is not going to be happy about that deal? president donald trump he's tweeted at op

brian sullivan with the d.c. reaction to tech ceo's meeting at the white house let's get started with bob and mike at the new york stock exchange. what are you watching right now? >> we were down at 26 or 30 something earlier. we plunged almost 30 points in the s&p, two things i saw happen, one is europe closed we had some comments from the head -- mr. bostic says, we're within shouting distance of neutral. remember, caplin just came on also i think this is an important move we've been seeing here from the fed. >> the market has pulled some rate hikes out of next year. i think that's one element of it, we also had that kind of soft test of those lows that we hit after thanksgiving, also, it seemed to make sense to me, if you didn't get a lot of that follow-up selling in the morning, themarket is going to try to pull itself into this position it's not rushing in one direction, when you have that jobs print right ahead >> we did go right at 26.31, that was the november low closing low, that's a very important techn

i am brian sullivan. so glad you are starting your day and your week with us.e's how your money in the global markets are setting up their monday dow futures, slightly lower. we're going to watch this trade super early. futures can't really be relied on that much at the top of the five there's your look. considering we were down nearly 500 in that dow shellacking on friday, even just a 5 or 7 point gain in the futures doesn't look too bad. the asian markets did pretty well overnight not great but we did see green on the screen. japan up .6 and shanghai up fractionally. >>> we lead with the developing story over dow component goldman sachs. malaysian authorities filing criminal charges against the bank it is related to the one mdb scandal. joining us now on the cnbc news line is tom wright he's a reporter from the wall street journal he is literally one of the people who wrote the book on this the book as we've talked about on the air is called "the billion dollar whale." tom, we appreciate you joining us on short notice are you surprised about criminal charges

i'm brian sullivan thank you for being with us.ere's how the money your markets and everything else is setting up we are seeing dow futures up a bit. it's an early close for the stock market today normally christmas eve or the last trading day before christmas, you won't get a lot of action. it's been anything but a normal year anything but a normal couple of months dow futures are fractionally higher now anything can change. keep in mind we are in the middle of the worsts did f s ddr the stock market going all the way back to the 1930s. barring a miracle, we are likely to end the year lower. the question is by how much. bonds, they may not end the year lower. the ten-year yield at 2.79%. 2.78 really. buyers coming into that market as well. as always we'll have much more on the markets and your money coming up. let's begin in the capitol, washington, d.c. a rather head-scratching letter by treasury secretary steven mnuchin saying he spoke over the weekend with the ceos of america's six biggest banks. everything is fine the odd part

brian sullivan is off today. let's look at how markets are setting up this morning. futures pointing to a slightly higher open. just about 31 points for the dow jones industrial average on the s&p, 2 to 3 points. the nasdaq up by 21. on the treasury side of things, let's look at ten-year treasury note yields, a bit of action there to the down side 2.89% the last trade there 2.76% for the two-year on the currencies part of this particular day, we do see euros gaining strength against the u.s. dollar. dollar/yen 113.4 and the pound at 1.26. >>> the oil global supply tightening more quickly next year due to output deals with russia and opec and everybody else, that's from the iea. crude prices just slightly higher $51.06 the trade there let's go worldwide in asia, it was generally positive overnight the nikkei up by a percent. the hang seng was up by over a percent. the shanghai over a percent as well on the european trade, we are mixed but generally positive off the best levels of the session. the dax in germany down by a quarter percent. the cac in france, a similar p

i'm brian sullivan you thought you were watching a market show about finance.his is a roller coaster ride in disguise look at the futures. investors are waking thank you morning after yesterday's historic heroic rally trying to figure out what market story to believe. we had the worst christmas eve session for stocks ever. dow fell more than 600 you know what happened yesterday. stocks posted their best day on a percentage basis since 2009, and the single biggest point gain ever rising 1100% look at dow futures now. they are not only down 400 points, they were down 200 points about an hour and a half ago. and they have been losing steam fast the market is primed to give back a lot of what it gained yesterday. i'm not that good at math. down 400, down 600 monday. that's about the 1,000-point gain we had yesterday. what a wild final week to the year let's look at the bond market. the one silver lining is buyers of bonds have come in yields have come down yield on the ten-year, 2.76% it was a solid yesterday session overnight for the nikkei in japan. up by 4% the

i'm brian sullivan thank you very much for joining us it's a good morning if you're long stocks.retty much everything everywhere is higher now dow futures up 254 keep this in mind, the dow needs to recover 1.4% in the next 13 trading days to end the year higher of course that's not including dividends, but still keeping track. the other question, will the ten-year note end the year under 3% on the yield again? we have not closed near that level since back in 2014 ten-year yield at 2.895, up just a tick this morning. trade fight? huawei's cfo arrest? the market doesn't seem to care. in asia, all the markets higher japan up 2.5%. hang seng up 1.5 stocks in europe are spiking as well 1% gains across the board. that's not the top story the top story is that british prime minister theresa may is not just fighting for a brexit deal, she's fighting for her job and will fate a vote of no-confidence from her own conservative party today wilfred frost is joining us live from london on what we can expect >> yes uk prime minister theresa may will be facing a vote of confidence among her own

live from the nasdaq market site overlooking the famous times square i'm brian sullivan for melissa lee. your traders tonight pete najarian, tim seymour, brian kelly, guy adami this show brought to you by joseph a. bank tonight on fast trouble in the transports, the dune underperforming the broader market and could spell trouble ahead. we explain plus where is the apple bounce the stock ending the day flat despite the broader rally but gene munster says it's a double. he will be here to explain and defend the call. why is he so bullish we start with the market that can't seem to hold onto a rally. the dow surging more than 450 points at the highs, a trade deal seemingly within reach. but stop us if you heard in one before stocks cutting the gains midday. and then selling off hard into the close. we did end higher. but 300 points less than we were at the top so guy adami. >> yes, sir. >> why -- this market is a like a high school prom. >> right. >> right >> brian. >> my problem was very different by the way. >> you can't hold on, right. >> right there is no long termism in the market at

. >>> let's get to the oil story brian sullivan in vienna with breaking news from opec. brian?reporter: we're seeing oil slide more here. this is the way it was supposed to work, opec meets, decide how many barrels to take off the world market and have a press conference about it. we got word the press conference today will not happen. that means one of two things it means they have not been able to reach a deal upstairs how many barrels to take off the market that's unlikely. the more likely reason it is cancelled, they're waiting on russia russia is not an opec member but they arrive tomorrow morning opec may have a number in mind but need russia's cooperation. they're likely waiting for the energy minister to come here, run their number by him and get the russian blessing that's the expectation that's what we're hearing from sources at the opec meeting. what does it mean? it means that oil is not in trouble but certainly the market is going to be more jittery. guys, it also means this write down the date, december 6, 2018 that's the date that vladimir putin became more power

we'll come back to you early enough and brian sullivan is in vienna meantime, the president weighingon the opec meeting on twitter saying the world doesn't want to see or need higher oil prices and this the cartel should keep reduction as is. this as we continue watching energy stocks tied to oil's recent drop. the vector oil service is etf down again today, almost 4%, more than 30% so far this year joining us at post 9 in a cnbc exclusive is lord john brown, former chief executive of energy giant b.p. great to have you back when oil asks whether opec has lost its mojo, has it? >> i don't think so. if you look at all the things that are changing in the world, one of the surprising constants is opec. we've tried to write it off many times but it's around. right now it has a subproject called the cooperation of saudi arabia and russia on oil pricing and supply but it will -- as it always does -- find its way through this because those in opec need higher prices to keep going. the rest of the world would like lower prices to keep. >> how high do they need it? >> they're happy around $70

i'm brian sullivan and it is shaping up to be another busy day on the street of dreams, and things are looking a little more rosy this morning, right now after yesterday's 507 point hair cut for the dow. futures were higher this time yesterday as well. we're up 149 on dow futures. by the way, the dow posting one of its worst months in years, the index down 7 1/2% skrjust i december, and we have more eye opening stats coming up. right now, markets looking pretty good, s&p and nasdaq futures up as well keep in mind, this could change. we have seen it change the last couple of days but right now, up 144. you also need to watch the oil and gas stocks again no sector has been hit harder during this market route than energy, and oil is not only under 50 a barrel, it's under 49 a barrel crude oil down 3% to 48.31 the energy sector has lost investors 20% of their money, just this quarter. well, i guess on the flip side, the ten-year yield is something to watch, keeping the mortgage market alive it is at 2.83% we are seeing a year where the yield on the ten-year is likely to finish out the year

. >>> good morning welcome from wherever in the world you are watching i'm brian sullivan yesterday it was whatever took to hold up we started up huge this time yesterday we were talking about dow futures being up 500 the market did end up higher, but the reality is that it came down by about half we're seeing that slide continue today. look at that dow futures down about 177 indicating a likely drop at the open the bond market may be the story today. here's why the ten-year note yield closed below 3% for the first time since september. it's at 2.95%. you know at the end of every show we do the rbi, let's call this your wbi. wonky but interesting. the gap between the ten-year yield and the two-year yield, so-called yield curve, is at its narrowest since 2007 the spread between three and five-year treasuries inverted for the first time in more than a decade okay brian, why are you telling me these things at 5:02 because it matters traditionally this so-called inversion on the shorter end of the curve has been an early warning sign of a possible recession down the road. again, does not m

good afternoon, or good evening, and welcome from wherever in the world you may be watching i'm brian sullivan and we kick things off with breaking news in oil. a few moments ago, reuters coming out with a new report that says that saudi arabia plans to cut oil production by about 322,000 barrels per day beginning in january now, also opec secretary general mohammed barkindo said to reach the proposed cut of 1.2 billion barrels a day, that the effective reduction for member countries will be 3% why does that matter it's higher than the initially discussed 2 1/2%, and what we can glean from this is the way opec talks is that maybe opec was pumping more oil than we thought because to get to 1.2, they're going to have to do a bigger percentage cut than we initially thought. it's not helping the oil markets, in fact, look at that, wti crude down 3%. brent down nearly 3% mid-50s, mid-40s here. that news coming out, getting more clarity on what saudi arabia wants to do but it is not impacting oil in a positive way right now. now to that other market of course, that is stocks, and after yesterday's i

prices are moving sharply higher watching and waiting moves in vienna we're going to get over to brian sullivant now. brian? >> reporter: entering our second day and a half, i guess, andrew. listen maybe we're getting closer to a deal we're going to wait and find out. there are some headlines confirming what we've talked about for the last couple of days which is 1.3 million we'll see if russia kicks in here i'll tell you how dire things have gotten here in the basement of opec. about a few minutes ago, one of the opec representatives laid out these signs. they're putting up -- this literally might be a sign or signs that something is nearly upon us here from a deal perspective. the meeting, of course, the deal was supposed to be yesterday now it's the non-opec opec this is how we're resting our hopes. everyone rushes in and then sits around to wait because there's delay, delay, delay. so either way, the market is moving up as you noted 1.3 million. that's been the talk the entire time iran said they're not part of any cuts because they've got sanctions. they're already getting a de facto cut.

time now for the executive edge we're focused today on the big stories driving oil prices higher brian sullivanhead quarters hey, brian. >> huge jump on oil prices keep in mind, we're still at 50 bucks. don't make too much of it. up nearly 5% in oil. a couple of reasons. we have the opec meeting in austria as well as the opec plus, as they call it, which is saudi arabia plus russia that is on friday. many think that is, quote, the real meeting, if you will. we are expected to get a cut at that meeting anywhere from 500,000 to maybe 1.3 million barrels a day. the bigger headlines though as you eluded to is long-time opec member qatar is going to leave opec at the beginning of the year they've been in since 1961, guys they were the first non-original member to join you had five original members. they joined the next year in 1961 they're one of the smaller ones for oil. about 2% of opec output but they are the world's biggest producer of gas they're leaving -- their story is that they're leaving more to focus on gas they've been under kind of a trade and economic embargo from saudi arabia dating b

brian sullivan reports tonight from vienna. >> reporter: well her in vienna in the end opec not only delivered on a production cut but big are than expected and the market responded with oil cing a few%. in the end opec cut production by 19.2 million barrels a day. however it's not just the solute number. it's what they are cutting that off of and the saudis and others bsurprised the market saying they would cut that from october production levels which were lower than november, therefore it was actually a larger cut than initially expected. now, all day long, the rumors were flying about what they might do. ist halfway throughhe day the iranian oil minr left the meeting early. can. >> can you girm the 19.2 million barrel a day cut overall. >> yes, yes, this is -- a agree. but for another400. >> and with the example. >> i'm shurp that they will reach agreemen >> is iran a part of the cuts? >> no. iran ismp e >> 800,000 from opec members. 400,000 from non-opec which is a majority of russia. in the end it was russio's particip in today's meeting which really changed the game. opec is f

as brian sullivan reports from vienna the drop was due to an unusual move by members of opec to delay their pduction decision. >> the build something clearing out. and the podium behind us remains empty here at opec headquarters in austria because what waspe ed to happen did not. the first time in many, many meetings opec ended their day without aem press annout regarding a production cut. what the oil cartel was expected to do was come and make a deal to cut oil production to provide a floor and firm up prices. oil pavces fallen in november the most in a decade. either because any couldn't reach a deal or more likely waiting for russia to arrive tomorrow. opec ended the day thursda with no deal. the question is this. not only how much will they cut, but how the cuts are distrssuted acll the different opec members and what is russia's role? it's largely expected that opec will come up with a number, probably one1. omillion barrels of oil but knelled like russia to agree to that deal. russia is not a oc member but one of the world's biggest producers. cehas outsized influ on where the

thank you for joining us today let's get to brian sullivan for a news update. brian?brian sullivan, here's your cnbc news update at this hour. >>> president trump is back in the united states after making a surprise visit to troops overseas he and the first lady arriving at joint base andrews this morning. he met with troop this is ooerk on wednesday on his way home, he and the first lady met with air force leaders and troops also based in germany at ramstein air base the president posed with service members at the base. saudi arabia's king salman issued a wide-ranging overhaul of top government posts including naming a new foreign minister, ra minister, ibrahim al asaf. >>> a frenchman is on a voyage across the atlantic ocean in a specially designed barrel capsule. yes, a barrel. 71-year-old jean-john kelly savant set off from the canary islands on thursday. he aims to complete the journey three months that's your cnbc news update for this hour. back to you. not in a bairl >> brian, thank you very much.rl >> brian, thank you very much. >> investors try to navigate th

brian sullivan is live from the opec meeting in vienna with the latest good morning, brian. >> good morningad reports out there. sources say that kind of stuff as we've been talking about and most major publications calling out, sources say they've reached a deal a few minutes ago the iranian oil minister left the opec meeting earlier. remember, opec hasn't made any official announcement yet. these are -- he was leaving, we had a camera there and the iranian oil minister making the first on-the-record comments confirming the deal to cnbc. watch this. >> cnbc will speak to our global audience can you confirm the 1.2 million barrel a day cut overall >> yes yes. this is 800 but another 400. i am sure they will reach agreement. i'm going to the airport. >> reporter: is iran a part of the cuts >> no, iran is exempted. >> these are the first on-the-record comments from a named delegate a lot of sources say this, sources say that iranian delegate maybe stealing opec's thunder either way, 800 from opec, 400 from non-opec which is really russia but the intrigue isn't over just because there's some n

on the pig that is energy this year with us is mike kelly from seaport global securities and brian sullivanour energy maven. it's a compliment. expert our in-house expert. mike kelly, going to you first what was yesterday's rally in you'd all about? was it short covering? >> maybe a bit right now you saw this in the last segment that energy is so tied right now to the health of the economy. the fear right now is demand will fall off a cliff. we've seen insanely positive results, but oil sprays prices slipped from 55 to 42. >> do you think the demand is out there? it seems like a lot of other data points -- we can say oil is a product -- the price is a product of supply and demand fundament fundamentals, then you look at aluminum, it's at 20 month lows, nickel at 14 month lows, the rest of the complex is confirming the move in oil being because of weakness in global demand >> the supply demand, just anything on the margin if all of a sudden it's oil demand grows a million barrels year after year, and if you throw a wrench 234 thin that, a sudden all bets are off for oil prices 45 will seem l

let's bring in brian sullivan.was completely caught offguard by this phone call, actually caused even more worry than they would have had normally. what are you hearing about the reaction from the top bankers in. >> you can look at the dow futures. the stock market is trading today for a half day. we are indicated down nearly 200 points. we have the worse december for stocks since the great depression. tomorrow, christmas you are sitting around the table with friends and family and maybe talking about football and blessings and joe scarborough says check the house and it is unlikely to burn down and suddenly everybody is looking around. there are three reasons that are going around. because these great depression references for the market maybe they felt the need to call the banks. maybe he was talking about walling to see the reaction to calling powell. maybe it was a coded message to the market that we have your back. either way, none of those three things seems to be working right now. >> no. this would be more

i am brian sullivan what a day the traders are near and far pete najarian in minneapolis chris harveykelly k.b.k. on set. our coverage offer the massive santa clause rally rolls on. the dow soaring 1,100 points 1100 points for the bigds

minds on wall street will break down how you should navigate all of the volatility >>> and i'm brian sullivan headquarters. it's day two of the opec meeting. the russian envoy just arriving. will the cartel arrange a production cut deal today after failing to do so yesterday will it be enoug

i'm brian sullivan hope you had a great christmas or day off with your family.ither way, if you are hoping for a mellow week, you're getting anything but that. it's wednesday, second trading day of the week. feels like the fifth day we're coming off the worst christmas eve for the stock market ever. in fact, now this is the worst december for stocks since all the way back in 1928 even worse than any december during the great depression. here's how things look now on this wednesday morning many of the world's markets are still closed futures slightly higher to unchanged. remember this, expect thin trades in the futures market this morning that could produce larger price swings the cost to borrow should come down in the weeks and months ahead. as stocks have sold off, bonds have gotten bought the yield on the ten-year is at 2.7% that should bring down borrowing cos cos costs. it was a disintegration in japan on christmas day the nikkei fell 1,000 points that was a 5% slide to stocks. the nikkei is down 20% just this quarter. this morning bouncing back a little bit

. >>> i am brian sullivan. today, is it time to put on risk or runoff and save cash?eigh in on the debate john seeing action in safety trade, do you want to pile in? and the call of the day on one of the biggest winners of 2018 what it is and more on the crazy market moves at the top of the hour carl >> hardest working man in show business, brian. see you in a bit >>> let's get to the cme group for the santelli exchange. hey, rick. >> good morning, carl. today i want to talk about fundamental changes in the market but before we get there, just want to say a word about today's conference board consumer confidence number. this is a chart of the numbers going back to 1967 in which my database includes. what i would like to point out is reading was 128.1 previous, we had five readings in a row, 130and above you could see them all right about there. the point is in this long chart we could see this is the stratosphere of the levels, truly is i'm not saying markets can't reverse and all of this can change, but i will tell you this is a forward real time data point with rega

i'm brian sullivan if you are just waking up, here's our advice. either go back to bed or pour yourself another large cup of coffee it is looking now like a rough end to the week. stock futures indicating a drop of 300 points on the dow yes, it is early things have plenty of time to turn around. that weak china data is really impacting sentiment this morning. if this holds, 1.2% drop for dow futures, it would wipe out dow gains for the week up about 1%. that's the bigger than 1% drop that means we go negotiate for the week asian markets reacting negatively to the news japan, down 2% hong kong and shanghai down as well all right. enough numbers let's get more to the news driving these numbers. eunice yoon has the data how much is the chinese economy slowing down >> it's slowing down by a lot, brian. the data for november was really ugly it disappointed many investors here so the retail sales numbers were particularly bad it was growing at its weakest pace since 2003 industrial output expanded the least in nearly three years. the fixed asset investme

i'm brian sullivan thank you for joining us on cnbc here's what you need to know about the markets today after another wild session yesterday stock futures little changed, maybe slightly higher now. the dow is down more than 500 points at one point on monday. only to bounce back. tech stocks led by apple reversed course. of course we also had last week's 700-point swing day is that the sign of a healthy market we'll dig in on that more in a moment and the yield spread between the two-year and the ten-year has been narrowing the ten-year yield right now at 2.88 and the two-year at 2.74. we are seeing some nice gains across europe. the german market up a percent the french market up a percent the uk market up as well brexit bedarn darned we are se some gains a mixed overnight session in asia japan was. china was down good news on the trade front the u.s. and xhchina are kickin off a new round of trade talks secretary mnuchin and robert lighthizer holding a phone call with the chinese premiere last night. they talked about the buying of agricultural products and changes to china's economic

brian sullivan is off today. let's get you up to speed on the market action.ck with this morning's top headlines. >> good morning, again, dom. shares of nike, the world's biggest sports apparel maker are spiking. sales rose 10% with strong demand in north america and china on the company's conference call ceo mike parker said nike has not seen any impact from the trade war between the u.s. and china >>> former nissan chairman carlos ghosn today's move comes amid new allegations ghosn shifted personal investment losses to nissan >>> new lipper data showed that it was pulled from stocks in the last week. they're on pace for their worst month of withdrawals on record >>> let's get a check on the other headlines. francis rivera live in the newsroom with the latest >> frank, francis, easy to get mixed up >>> flights in and out of gatwick airport are back after drones sparked concerns of collision. the airport is warning travelers to check their flight status before leaving for the airport. >>> much of the east coast is facing heavy rain and bumper to bumper traffic

i mentioned to brian sullivan, look, i think you protect your portfolio here it isn't that everything is fine with china, that everything is settled with the mueller investigation and all the rest of the stuff that's all still out there until some of that clears the way, i think volatility, marc lasry is right, it's here to stay >> beyond the investigations and the president, all those things pete talked about as well as corporate debt as well as china and how does that play out, scott, which is likely to play out throughout 2019 and probably into 2020. that would be a huge rally and with every day, every month that pushes out there, that's another string along of that volatility that holds it. it's almost a record in this recent history >> steve, you want in? >> i'm listening to the conversation around the table as i have the past week and month every story where you try to say, hey, here is why it will be great has a big asterisk coming off the debate but nobody is there pounding the table saying, hey, you got this wrong. it's 3.5% growth and 3100 s&p. you will have all this benefit

happy new year's eve brian sullivan is off today. futures are showing green right now.ow jones slated to open by 203 points at this stage if the gains hold to the opening bell s&p 500 up 21 points and the nasdaq up by 52. on the treasury side of things, we are seeing a bit of movement as well. 10-year u. s. treasury notes trading at 2.73% the two-year note, 2.52% topping your headlines today, you've got trade president trump saying he had a very good call with president xi jinping and said progress is being made "the wall street journal" said the president may be overstating on how close the two sides are to a possible agreement. let's see how stocks are reacting to that bit of news in asia, markets in japan, south korea, and mainland china are closed for public holidays but you can see the hang seng up one and a third percent. the taiwan up 1% as well. in germany and italy, up about 1% as well foot say up 11%. euros very us the u.s. dollar. $1.14. gold up 1284.40. bitcoin down 1%. here's a check on where the major u.s. indexes stand dow is down 7% it is on pace to brea

. >>> well, good morning and welcome from wherever in the world that you may be watching i am brian sullivan. thank you for beginning your week with us here. flags across america are at half staff following the death of president george herbert walker bush over the weekend. your big week begins with a big time move up in the market look at this it follows the positive development of the g20 meeting president trump and china's president agreeing to a 90 day pause in any new tariffs in the year the markets love it. futures on the dow indicating a more than 500 point jump at the open similar moves on a percentage basis on the s&p and the nasdaq. all across the world we're seeing markets move up let's look at asia, china, the domestic shanghai market, that is a big winner. up 2.5%. hang seng, similar move. europe moving higher as well with a german market up nearly 2.5% all the major markets are moving up as well look at this, the german dax 2.6% in the bond market the yield on the ten-year note not moving as much the bond market cares about trade but it cares more about the federal reserve than

i am brian sullivan what a day the traders are near and far pete najarian in minneapolis chris harvey gene munster and brian kelly k.b.k. on set. our coverage offer the massive santa clause rally rolls on. the dow soaring 1,100 points 1100 points for the bigds biggest hundred one-day point gain ever. the s&p surging nearly 5% for the best day in a decade no doubt investors cnbc viewers are happy right now. especially off of monday's 600 point fall but here is the trillion dollar question is the rally a sane that the bottom is in is this the start of something great or just a huge day in a weakening market because -- and i hate to do this glass half empty, the two other big point gain days, 2008. >> it's funny before on the desk. >> funny about 2008. >> nothing funny about that but funny how it felt in terms of the volatility we were having. felt like the rallies we got in 2008 that is not to suggest that this economy or market or anything -- is anything like that. what i think we had today was people just said, listen we priced everything in we priced in all the concerns we had. sound

welcome back thank you for being with us. 5:31 on the east coast i'm brian sullivan let's kick off thelf of the show with the news you need to know about 60 seconds. it's your executive recap. frank is back with that. >> this is what is leading right now. facebook reportedly shared more of the users' data than it previously admitted. "the new york times" says facebook gave microsoft, netflix, amazon extensive access to your personal information that includes the contact information of users' friends and even the ability to read private messages the report adds more than 150 companies have had access to that data as recently as this year facebook denies it let other companies misuse that data pfizer and glaxosmithkline are consumer the health care units they will create a global giant for drugstore staples such as advil, tums and toothpaste the combined unit will have $13 billion in annual sales. and softbank began trading in tokyo. shares of the telecom unit plunged more than 14% on its debut. this is japan's biggest ever ipo and is one of the largest the world has ever seen. brian, ba

you, scott and courtney and "fast money" begins right now live from the nasdaq market sited i'm brian sullivan in for melissa lee. traders are pete najarian. tim seymour. dan nathan, guy adami. tonight on fast. city's top equity strategist saying don't fear the bears. he explains why he is betting on the bulls. plus with two weeks down to christmas are we looking at pain for retailers or holley jolly christmas? former home depot ceo will be here for much to do with the markets and your money but first we begin with president trump's now two-front war. of course the ongoing trade fight with china and now an escalating war of words with the democrats. our own eamon javers breaking down a wild day at the white house. eem sfwloon that's right beginning in morning with the president tweeting out that negotiations were going well with the chinese and that people should be on the lookout for significant announcements. we haven't seen those announcements through the course of the day no indication that anything is coming necessarily any time soon from this negotiation. but the other negotiation that w

cnbc's brian sullivan just a few hours ago on "morning joe" talking about some of the other factors that could be driving this market whiplash that we are seeing. take a listen. >> well, all was quiet politically yesterday and many people i talked to said that may have something to do with it. the president made the trip overseas, no tweets, ma nunchen didn't send out any purpose see mails and the market could do what it wanted to do. there was no talk of border walls or federal government shutdowns. it was just leave it alone and maybe we'll see what happens. >> what does this say about the relationship between the white house and these volatile markets, congressman? >> i'm a little reluctant to tie one day's political news to market reactions, especially this close to the end of the year where i think historically you do see some of these fluctuations. i will say though the treasury secretary's phone calls the other day probably did lead to some adverse reaction in the stock market. but i don't want to venture too far down that path. >> congressman, there is a tendency to associate the

with us now brian sullivan. with futures pointing for a steep drop today when markets open later. my gosh, yesterday was at least, i got to believe, a lot of americans with 401(k) accounts had to be happy yesterday to see it go up because we've been seeing these 5% drops and losses over the past month or so. >> yeah open walking outside at "30 rock" last night heading to the 5:00 p.m. show on cnbc, guy walking on the street, how is the market doing? i say we're up over 1,000. thank goodness, and moved on his way. you're right. it's been a rough month. yesterday was amazing. record breaking point rally. here's thing. we're still on pace for the worst december for the dow since 1931. i mean yesterday made it a little less worse than it was, but it's still a very, very difficult month. a lot of people are not going to want to open up those retirement statements. people keep asking me why did the market go up 1,000 points. ultimately the market will know but i'll say this. you tread book "all is quiet on the western

. >>> the opec meeting is days away brian sullivan joins us now.ou on with frank holland earlier today. that was like land of the giants i think he's got you, doesn't he he what you by -- he's 6'6". are you 6'5" >> i don't know who's taller wilf could be taller >> wilf is the tallest >> but he has three inches of hair he may be hair with frank, you don't worry about that >> no. there was some height on the set. any way, kilduff coming up don't say anything wrong he will be all over you. he's next to me. >> don't let him drink your water. >> you heard that? you heard that when are these mikes open? >> how long have you been in tv? >> holy cow. i was saying nice things about you, right >> john, i would give you a drink of my water any time you're thirsty this opec meeting is in vienna four key story lines we'll watch. and we'll be there live on thursday and then friday number one, a production cut everyone expects we'll get one prices have come down 30%. worst month last month in a decade probably 1.3 million barrels a day. that's the consensus aggre

brian sullivan, jane is exactly right, you know, we worked together, republicans and democrats alike,e first time in a generation, first -- balanced it four years in a row for i go he is it's the only time that's happened in a century now, and the markets responded positively. greenspan told us we had to move in that direction or we were going to be -- we were going to see the markets collapse, we were going to see interest rates explode. here we are the federal debt was at $4 trillion. we are at $22 trillion right now, spending is as reckless as ever, this president has gotten us into trade wars left and right and the volatility continues. the market has been jagged up and down, but mainly down of late. what's the reaction on wall street to what's happening in washington and what are they expecting today? >> well, the reaction has not been good. i mean, to your point in the opening preface there, joe, it is the worst december not since the great depression but actually with the declines on christmas eve the worst december since 1928. so it's actually worse than any of the months duri

you, scott and courtney and "fast money" begins right now live from the nasdaq market sited i'm brian sullivan are pete najarian. tim seymour. dan nathan, guy adami. tonight on fast. city's top equity strategist saying don't fear the bears. he explains why he is betting on the bulls. plus with two weeks down to christmas are we looking at pain for retailers or holley

. >>> brian sullivan is live on the ground at the opec summit in vienna hi, brian. >> reporter: thank you, melissa. basically we came out and told you that 1-2 to 1-4 was expected and we got 1-2 why didn't the market rally then very simple. when opec says they're going to cut by a certain amount, you have to know what they're bringing it down front of. november saw saudi production in particular go up we talked to the aramco ceo, saying they were going to add production oy in the end a lot of math. the bottom line -- the saudis will cut more production than many people initially expected rischa coming in with a cut on their own. other non-opec owner filling in the rest 1.2 million, but again off those october levels more importantly i think for opecs, with the price move, there's been all this talk about qatar quitting, and what is the authority of the organization. we had a chance after the press conference, and we got a few comments from the energy minister of the uae, and i asked him. >> we cannot do it without the non-opec this is a group of browers who cares about consumers as we

> today's drop puts the dow back in negative territory let's get to reporters in the meantime brian sullivan has opec's impact on oil prices. that's a lot of i let's start with you, bob. >> it was an ugly day but it was the bottom at 11:30 is when the markets closed over in europe. a couple of things happened. we had him saying interest rates are within shouting distance the fed seems to be getting a little more accommodative. they say fears about a global slow down were overdone. folks a lot of damage has been done we hit the 2632. it was the recent low on the s & p 500. 500 new lows here. lots of financials you look at citi group and at the regional banks, most of the major regional banks are at 52 week lows. financials are a complete mess a lot of damage on that. same situation and most oil companies say 52 week lows as we don't get any resolution of what's going on and solving the supply and demand problem. finally let me show you industrials, a lot of new ones here as well general electric all again coming off of the lows here up today. at the open this morning 52 week lows as well fina

brian, this judge emmet sullivan is known for offering his unfiltered opinion from the bench.>> reporter: judge sullivan is known for that. today the judge went pretty far by his own admission, going as far as to ask if michael flynn committed treason. the judge later softened that, saying he was merely asking a question. the judge had to walk back a comment about flynn, quote, selling out his country with lobbying work. still, this judge has been known as an effective jurist because of his blunt style. the man who from the bench told michael flynn he was not hiding his disgust or his disdain for flynn's crime, gave the former national security adviser and the american people a dose today of what legal heavyweights in washington have known for decades. judge emmet sullivan pulls no punches. >> no matter who you are, judge sullivan will tell it like it is. >> first appointed to dc courts by ronald reagan and george h.w. bush, he was made a u.s. district court judge 24 years ago. he has been known for colorful rulings and comments against both political parties, sometimes direct

wtf, up 6% or more we're taking a look sat potential market drivers nor 2019 here's brian sullivan'scompanies. >> reporter: 2018 was the year oil prices collapsed along with stocks as long as opec tried to reassert its power 2019 could be different. here are some predictions. one, oil prices recover but only by a little. it will take time for opec's recent production cuts ultimately to affect the market, along with a flattening out of u.s. production should support slightly higher prices look for oil to be in high 50s to low 60s for all the year through july and scale matters, bigger is better when you have to control costs. look for the exxons, the chevrons and other big players to keep selling the assets they don't want, and spending to grab up some of the best acreage in america. three, opec gets smaller as the new-opec bill rolls through congress as qatar called it quits look for iraq and iran or both realizing going their own way is the better and if that happens a relationship with the middle east could take a significant turn >>> from commodities to currency now, the dollar fa

brian sullivan joins us this morning in the newsroom with a look at the companies most at risk brian?il goes down, you're going to hear a lot about how lower oil prices mean lower gas prices and that's a good thing for consumers. but remember there is another side to the oil slide. that is the debt side. crashing oil prices can be a problem for the debt heavy oil companies as well as their investors. i want to focus on some names that have high net debt to earnings look at some of these returns. oasis down 61% whiting down 54% matador and even the giant marathon down 38%. okay now, all oil and gas stocks are down big, but what we want to focus on are some names specifically to watch. i raen a screen of companies that have high net debt levels compared to ebida as well as a junk credit rating so these are companies that have high debt ratios and low credit ratings. you have callon petroleum, matador resources, and oasis the average return of those companies behind us is a decline of 51% this quarter. that is 15% worse than the xop oil and gas etf. in other words, guys, when we're talki