welcome to "cashin' in." this week, michelle fields, jonathan hoenig. welcome, everybody. nerve gas, bombs in lockers, machine pistols and grenades. which school district did the right thing? >> it's tricky. you have to keep in mind that they just had the san bernardino attacks and the terrorist who committed the attacks in san bernardino reportedly had planned to go after a school. we have this in mind. it was fresh on their minds about what happened. it's easy to say they over reacted. if you have that in your head and on top of that it's better to be safe than sorry. >> new york didn't close schools, l.a. did. almost identical threats. which one, jess, was right? >> as a native new yorker i will go with the home team here. there were certain indications in the letter that this could have been a hoax that they didn't capitalize the "a" in allah which they say was a dead give away. i don't want to throw l.a. under the bus. i understand being cautious. we are in difficult times and the decisions have to be made more and more. what we should be talking about is sharing more

welcome to "cashin' in." this week, michelle fields, jonathan hoenig. welcome, everybody.e gas, bombs in lockers, machine pistols and grenades. which school district did the right thing? >> it's tricky. you have to keep in mind that they just had the san bernardino attacks and the terrorist who committed the attacks in san bernardino reportedly had planned to go after a school. we have this in mind. it was fresh on their minds about what happened. it's easy to say they over reacted. if you have that in your head and on top of that it's better to be safe than sorry. >> new york didn't close schools, l.a. did. almost identical threats. which one, jess, was right? >> as a native new yorker i will go with the home team here. there were certain indications in the letter that this could have been a hoax that they didn't capitalize the "a" in allah which they say was a dead give away. i don't want to throw l.a. under the bus. i understand being cautious. we are in difficult times and the decisions have to be made more and more. what we should be talking about is sharing more info

that's very art cashin. >> thank you.e had practice. >> yes, you have. >> at 11:00, you are going to sing "nellie," which goes back to a time where people needed some cheering up. >> yeah. they had parties for christmas and new year's here on the floor. sometimes they had several bands, et cetera. when 1929 and the depression came along, it was rather unseemly to be seen celebrating down here when the nation and the economy were badly hurt. so they just sang together and one of the songs that emerged in those dismal times was "nellie" for the clouds rolling by and the ability for things to come back. also, the parties today are a little bit more respectful. in 1873, they had to call the police in. things got a little rowdy here on the floor. we haven't had that since. >> does nellie feel like it fits the current times or we are nowhere near that? >> let's not forget, basically, the market has done nothing all year. a little "nellie" can't hurt right here. the worst year for the s&p since 2011. >> we're still struggling to

welcome to "cashin' in." the crew this week, jonathan monig, michelle field. it's time to wake up. p.c. is now getting us killed. >> it is. the department of homeland security has a campaign if you see something suspicious, say something. people don't want to report when something is suspicious. they are afraid they will be turned into a villain. look at texas. a teacher saw a student bring in something that looked like a bomb, not a clock. they became an overnight sensation. everyone was calling them reyesist. now the clock kid is suing them for $15 million. it seems like there is no incentive to report. you will just become a villain if you're wrong. >> the word profile becomes a nasty word, a racist word. but isn't it good policing? >> it's shorthand for thinking, eric. if the enemy is militant islam how can that not be a clear warning sign? michelle's point, people are even afraid of saying the word "islam" or "muslim." that's why the president can't say it. he calls them radical extremists. he can't get the words out of his mouth. >> even president obama can't say radical isla

thanks for having me. >> individual investor, we just heard what art cashin said -- some of the pros basically short the stocks and buy them back in the new year when they're lower. does that impact the individual investor? >> well, it may, and i certainly don't want to argue with art, but i do think that it's possible in this particular year. we didn't have a great market up move. so, while there certainly are going to be individuals and institutions who have individual positions that have done very well, the chances may be better, but because the market wasn't up big this year, we're not even going to see as much of this phenomenon. however, even if we did see the phenomenon, sue, it's normally going to be a very short-term move. i don't believe it's a move that is actionable for individual investors. the chances of getting it wrong are much better than getting it right, and as a result, if someone has a really solid, disciplined, diversified strategy, i would recommend that they not do anything in advance of the first couple days in january's trading, and instead, stick with their

. >> final lirks todly, today is interview with art cashin. the biggest story, oil, i asked art about that. he said we may have a very different ending for oil and oil stocks by the end of next year. >> my feeling is that the weakness in petroleum will continue into the early part of next year but not into the end of next year. so they will be able to do a couple of victory laps at the end of next year, because they have cut costs drastically. >> always nice to spend time with art at bobby van's and the friend of fermentation down the street. the fed, oil, earnings and the global security situation, art cashin talking about all those things and what's going to happen in 2016 on cnbc.com. >> thank you, bob. >>> let's get to the bond pits. rick santelli. >> what hasn't happened in 2013 or '14 or '12, or '11. what's moving the market and giving a bit of frenzy to the market, next week's fed meeting. two-day normal zation. we'll wait and see. if you look at a one and two day of tens, yes, rates moved a bit. look at the scaling. on monday, we settl

>> art cashin has been holding the line for the last six months. he thinks it's unlikely it will happen although he concedes he's in the minority. they obviously want to do something and feel the longer they wait, the steeper the glide path is going to be, the process by which they eventually raise rates again and again. i tend to agree with that. >> what is art's reasoning for not expecting a hike though? >> he thinks the economy is too weak and the markets do not feel there's enough rationale. just because employment is better the overall state of the economy is not. >> conocophillips is the latest giant to slash its spending for 2016. the stock has been moving higher but it's down about 30% this year. morgan brennan, give us more details on this. the late nest a long line of companies in that space that are either suspending or slashing dividends or cutting cap ex plans. the fallout is continuing. >> exactly. just to put this in perspective, we've been getting reductions in cap ex from conocophillips since this time last year every single quarte

here's art cashin, the lead of the annual rendition of "wait until the sun shines, nelly." >> one, two, three. ♪ wait until the sun shines, nelly ♪ ♪ as the clouds go drifting by ♪ we will be happy, nellie ♪ don't you cry ♪ down lovers lane we'll wander ♪ ♪ sweetheart, you and i ♪ wait till the sun shines, nellie, by and by ♪ >> merry christmas, everybody. merry christmas. merry christmas, everybody. special merry christmas to art cashin. 50 years on the floor this year, and 50 years leading that. it never really changes for you, does it? >> no, it doesn't. great old tradition, and we want to hang on to it. come back new year's eve. we do it again at 2:00 in the afternoon. >> do it every year. certain things never change. we hope they never will. merry christmas, everybody, from everybody down here on the floor of the new york stock exchange. to you too, carl, and your family. >> and to you guys. thank you so much, art, and bob. good morning. it is just past 8:00 a.m. twitter headquarters in san francisco. it's 11:00 a.m. on wall street. "squawk alley" is live. ♪ >>> welcome to squawk

art cashin joins us as well. what is drooeg all this today?> emerging market currencies, and -- >> right. >> so far the s&p stopped at about 2020, which is where it held wack on november 16th before it started a pretty significant rally. so we'll watch that. if we weaken again, if they violate that area, we could be in a little bit of trouble. we're looking at technicals here, but the markets are very nervous. the buyers are if not on strike, certainly on the sidelines. >> you had drawn 2040 earlier in the week as a line to be watched. this is decisively on the up side. >> yep. we went right through it, and you're building a series of lower highs and lower lows, so the technical aspect of the market is not very good at all. >> anything the fed is going to do that's going to surprise the market at this point aside from, i guess, not raising. >> the question traders have been asking all week is if the markets keep acting like this going in, what is the fed going to do? they're in a quiet period. they can't communicate with anybody. the fed is go

let's bring in art cashin, director of floor operations with ubs. wti is down. don't know if that's a key to the market, but i would assume it's part of the overall tapestry. >> it clearly is. if wti breaks below 37, it will put extra weight on the market. still trying to absorb the two big updays they had. we may have cheated santa claus out of a couple days by doing that. this is usually a quiet week any way. with the idea that they're celebrating boxing day now instead of the immediate day after christmas, london's closed, canada's closed. this should be very, very dull today. this is typically a quiet week. you see some anomalies in trading sometimes. but some stocks moving more than they otherwise would. >> the fact that the winners last week had been the previous losers tells me some of it may have to do with tax selling and that's abating. >> because of the lack of action so far, so close to the flat line, this comes close to performi performing at the slowest of the year. what numbers do we need to hit for the market to go higher next year? >> a friend o

up next, we'll talk to art cashin as we count you down to the opening bell.ooking at futures, strong early action with less than ten minutes left to go until the opening bell. this could take us back into the green for 2015 for the s&p. >>> a lot of the financial services industry watching where we open today. can we turn the markets positively for the year and attract more money on to the stock market next year? the opening bell is minutes away. sure, tv has evolved over the years. it's gotten squarer. brighter. bigger. it's gotten thinner. even curvier. but what's next? for all binge watchers. movie geeks. sports freaks. x1 from xfinity will change the way you experience tv. >>> you're watching "squawk on the street," live from the financial capital of the world. the opening bell will ring in about 2 1/2 minutes from now. let's bring in art cashin director of floor operations from ubs, who yesterday shared the stunning statistic that years ending with 5 often end up on the s&p. dare we break the trend? >> we better not. that would be a sign of something. do

art cashin joins us at post nine.g to you. >> good morning. >> you write the santa claus rally historically starts christmas eve. does it come that late? >> it does. the last five trading days of the year and the first two of the next year. >> so those who are asking where is he, they are too early? >> too early. you know, you don't have to put his face on a milk carton yet. his timing is usually late. oil is behaving today. they're trying to start the santa claus rally early. we had an early rally attempt that faded. this one is having difficulty. >> the likelihood of the dow tacking on 3% in the final days of the year does that probability seem good to you? >> no, not that good. you may get a rally about half that large. 3% might be a bit of a stretch. >> this is the time of the year we reflect on the calls that went wrong back in 2015, how the 2016 playbook is up. a.p. just named the china slow down the top business story of 2015 2015, in terms of its impact on the economy, the policy, do you agree with that? >> it

art cashin is with us from ubs. can we paint as a battle for the flat line?practice is that what will happen today? >> i honestly did say i think there ever people with interest on both sides as we discussed the mutual fund industry would like to eke out a mild plus. there are people with option positions and we're going to have a little bit of a rebound at the close. >> we have really thin volumes. i think it was the third largest trading center of the year yesterday. wouldn't they have punched it higher yesterday to try and maintain the flat line? >> as we discussed, there is a rather recent phenomenon the last five years where the final two days, down with pressure. people shorting what they assume will see tax selling into the new year. i think there was some of that. >> just to reflect a little, the u.s. bull market for stocks is about 6 1/2 years old. it is the fourth biggest, longest in history. janet yellen was asked at the press conference whether recoveries die of old age. do bull markets die of old age? >> they wear down. it was interesting. you ha

let's get to art cashin here at post nine, director of floor at ubs. long said you did not see a hike coming this year. seems like they'll sneak one in before the bell, but you'll still be watching for dissents among other thing. >> usually yellen likes to go for unanimity, but i think today dissents will be helpful because it will tell the world we're in no real hurry. we have disagreement on the board, don't expect us to keep coming again and again and again. >> so multiple meaning more than one? >> yeah. there's a possibility of three. you've got tarullo, branard and evans. if they don't push hard, they think it through, there may be some dissents. >> it's a market that's been troubled by oil and high yields. yesterday we got a rebound from that. december has not been kind. >> no, it has not. we may begin to see another cycle of pressure on oil building up. i'm not sure the high yield thing will have a major effect. rather narrow. it's not in the trillions. it's in the billions. so i think it's kind of insular. i would worry about oil if it comes do

art cashin says you might not actually know the reaction until tuesday or wednesday. expiration on friday. so far, so good. >> they were obviously well prepared for the suspected thing. they really did get the market expectations in this direction. however, if there was a little bit of residual doubt, it was obviously kind of banished by the comments by yellen. that's why you have got the immediate relief rally. the pattern is, when you get fed day rallies, you often do give it back over the subsequent weeks and not permanently, of course. you have that bleed away a little bit. yesterday was definitely a welcome response, if you were janet yellen but didn't really settle the issue. we are still kind of in this trading range. still a slave to credit and oil. it is also a defensive tone to that rally. >> nonetheless, we are in the range given the fact that we had the taper tantrum earlier in the year. we had all that concern in august over what was happening in china. do you think this lack of action so far in the markets will embolden the feds for more rate hikes? >> i

art cashin said yesterday keep your eye on crude. it may be more powerful than even the fed.e are looking at the affects -- the after affects of the federal reserve board hiking interest rates for the first time in nearly a decade. could this lead to new financing and silicon valley's space. john, ceo of the daily mail. gentlemen, great to have you. this rate hike will be gradual. it will take place over a year or two. does that have any impact in the near term on the easy money spigot over in silicon valley? >> yeah, it's hard to offer that we're going to see a bunch of about. it might be a lot to do about nothing in the short-term. it's really focused on how do they serve the customers, and are those products and services going to be in less demand as a result of higher interest rates? it's hard to argue that the consumer will look at their credit card bill and think, wow, i can't afford that -- the short-term, i think very little affect. you saw 16 straight increases in rates over the next four years. i think you'll see a dramatically different environment, but we're think

. >> we may have seen the effect already but art cashin walked by 400 million to buy, $400 million to buy as we head into the close. >> the dow still down more than 300 points. it will be interesting to see if this has an impact on this kind of a day. >> when we come back it is friday that could only mean we're due for a visit from davis darst. find out if he think you should be buying december's dip after this. >>> all right. six minutes left here with the dow down 322 points. joining us is our friend independent investment consultant david darst. lots of volatility this week and of course we know how important next week is. what are you expect to go happen here? >> with the fed, bill, sara, we've talked for weeks and weeks about the six signals that would signal an impending bear market and they are is the fed tightening, they are beginning to tighten a little bit, having started in october of last year, 2014, with the ending of quantitative easing. so this would be phase two. secondly, is a recession looming? people are worried about a recession looming. you have had most of the vi

art cashin stopped by and told us it was $400 million to buy. a couple hours ago it was -- the bias was to the sell side purely but he said it switched a little while ago. we will see if that has any impact as we go into the close with the dow down 125 points. joining us right now quincy crosby. what do you make of this volatility the last week or so? >> this is what we have had from time to time ever since janet yellen telegraphed months ago that she wanted to raise rates this year. when she would switch the market rejoiced, i think she made it really clear it's going to happen next week and it's the market trying to figure out what's in store for it. and that means that you are going to have more volatility and it's a market that is going to move on fundamentals, something we haven't seen for a long time. that means earnings, top line revenue growth and you've got this tug of war between those who say that the global growth is slowing versus those who say, huh-uh, global pmis are starting to turn, emerging market bad news and bottomed and this

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. >> that's art cashin. >> coming up on cnbc, the ceo of foursquare dennis crowley live on the big holidaying season. we're back after this break. >>> are stocks getting a big rally? we'll tell you why. but right now more "squawk on the street." some research.en doing let me introduce you to our broker. how much does he charge? i don't know. okay. uh, do you get your fees back if you're not happy? (dad laughs) wow, you're laughing. that's not the way the world works. well, the world's changing. are you asking enough questions about the way your wealth is managed? wealth management, at charles schwab. rally? >>> welcome back to "squawk on the street." all ten s&p sectors very much in the green with health care leading the way higher. it's third best performing sector behind this consumer discretionary stocks. powering, names like aetna and universal health. it's important. they're the three biggest sectors in the s&p financials. back to you, sara. >> don, thank you. let's get over to rick santelli, good morning, rick. >> good morning, sara. i'd like to welcome matt ridley. matt ridley has w

art cashin has thoughts. we will hear them next. ford's ceo mark fields joins us with his take. stay tuned. >>> welcome back. let's start with a news alert on united technologies. seema? >> we have three updates. first it's raising the low end of the 2015 guidance by five cents to a new range of $6.20, important to know this is below wall street consensus. united tech is also up to the 2016 revenue and earnings outlook, but this is also -- this guidance has also fallen short of wall street consensus. third announcement, a 1.5 billion restructuring plan to -- that would be implemented through 2018. on the back of in news, united tech slightly higher. >> thank you so much, seema. keeping an eye on those shares. wall street is in a deep profit recession. could that reverse course in the new year. he's here with the highlights. >> and we did a lot of research the important thing is, a lot of questions. >> i would have thought history tells you over several quarters, the profit margins begin to regress competition are beginning to slow i

art cashin from ubs, you were sayi saying in the break there is an interesting phenomenon. >> a lot ofe assume that if you have a stock that has done very well this year, you you want to postpone selling it until after the first of the year because that carries you a whole year ahead tax-wise. if you sell today, you have to think about it in april. if you sell it in the beginning of the new year, you basically have a whole year to worry about it. so with that in mind, these two days, a phenomenon developed where people start shorting those stocks figuring they will be weak. >> interesting. we saw for example yesterday alphabet and amazon having heavy buying and those were lifted to record highs. is that year end window dressing? >> technically what window dressing is would be manipulation of stocks and's illegal. but if you buy more of what you you like, that's good. now, i think yesterday was almost a global phenomenon because every equity market around was moving up. and i think what you saw was a lot of people adding to those winners so that when they published their results at the

art cashin, jim, says the santa claus rally historically arrives on christmas eve.d in playing this last week? >> when i see stocks like bp or bhp going up sh, i say maybe it the end of tax law selling. when i see companies like under armour going up because they have a new cfo, that stock on a downturn. i'm not saying bed bath & beyond will go higher. watch general mills. watch cbs. widely considered to be disappointing when they announce things, watch those stocks percolate. they're a good indicator of what's going on. costco. too. if costco can rally the last quarter, you have a winner here. >> let's get to the opening bell. at the big board, the nutcracker celebrating the holiday season. an amazing production if you have not had the chance already. >> you went? >> yeah. >> at the nasdaq, cytosorbents, critical care. one name we have not gotten to is celgene. >> i have said it over and over again, i am a huge believer in what bob hugen is doing. he always told me over and over again, don't worry about this patent problem. the 2017 numbers is for real. people were

art cashin pointed out we have $250 million to buy. not a big number but we are already seeing a come back for the namer averages. up next td ameritrade's chief strategist tells us why annisters should by amazon and nike on these dips. that's coming up. >>> about ate minutes left with the dow down 113 off the lows of the session. joining us is jjkanahan from td ameritrade. you always give us a sense of what your customers have been doing. this time around you're telling us how they've been buying financial -- no, they've been selling financials and buying dividend payers here, just the opposite if we're expecting a rate increase from the fed. >> it's interesting. as you're saying theory tells you we're going to raise rates buy financials, but what i think it is, bill, if you look at the fed funds pricing at a 79% probability right now i think it may already be baked in and our clients are saying, okay, we want to take some profits on the bank america, city groups of the world, they're still holding some, but let's look for other opport

art cashin leading them in "wait till the sunshine." >> current and retired members of the new york stock exchange all get together across the street for lunch and come here to sing christmas carols. here to lead the singing, not him again but a man we've known for a long time, jimmy mcguire leading in the singing of "wait until the sun shines nelly." >> one, two, three. ♪ wait till the sunshines nelly ♪ ♪ as the clouds go drifting by ♪ we will be happy nelly ♪ ♪ [ cheers and applause ] >> over 100 former members of the new york stock exchange here. former brokers singing "wait until the sun shines knenellie." when we come back, more on the dubai fire and whether we turn positive for the year. some suspension around that. "power lunch" continues in just a moment. we're always looking for ways to speed up your car insurance search. here's the latest. problem is, we haven't figured out how to reverse it. for now, just log on to compare.com... plug in some simple info and get up to 50 free quotes. choose the lowest and hit purchase. now...if you'll excuse me, i'm late for an important functi

by the way, i hesitated because art cashin was just signaling to me the buys today is $300 million to the buy side going into the close here. a little slightlyup ward bias. >> the inspector of carl icahn looming over a beleaguered company. >> changes today at freeport mcmoran. we don't know if the changes actually had to do specifically with carl icahn, do we? >> we don't. that is why i'm going to say a few months after carl icahn it announced a large position and agreed to have two of his nominees tame those seats. james jim bob move fit is resigning. perhaps given his long tenure in the business and stature of co-founder of the mcmoran piece of the company which is freept's on and off partner over the years, in many ways their struggles are not unique, it has taken steps recently to combat the revenue shortfall and issues, including shoving its dividend and exploring a spin off of the oil and gas assets. as the world's largest publicly traded copper producer in the world, people who follow the company closely say that whether icahn had a plant in moffett's departure isn't clear and

art cashin came by and pointed out $400 million to sell going into the close, that is the imbalance we face right now. jeremy hill joins us right now. what are you looking at as we go into the final few days of the year? are you buying this rally or what are you doing here? >> we are buying this part of the rally and what we mean by that is we do think that performance chasing that saunt clause rally we haven't seen so far we will see in the next couple days. i think it's simple that portfolio managers are behind the curve and there is some opportunities right now to -- basically for early next year. >> are you as sour about stocks next year as everybody else? >> yes. to be honest we are. we think that there is the potential for a top line recession and we think that translates very poorly because at this stage with money becoming more expensive, with potentially the fed raising interest rates 1.375% the end of the year that's definitely going to be a drag on a lot of companies. >> the prevailing wisdom is the fed raising rates is good for bank stocks, for example, but the financials h

art cashin just stepped by. 700 million to sell is the imbalance going into the close here.re down 192 points right now on the dow jones industrial average heading back to the lows of the session here. joining me at post 9 dan suzuki from bank of america merrill lynch. are you changing anything investment-wise now that the fed is starting to raise rates? >> no, i don't think so. i think there has been a lot of noise made about what the fed did but the reality it came right in line with expectations and they will be super gradual. i think this reversal of the reaction you saw yesterday makes a lot of sense to us. we knew there was going to be a little volatility, but once the market digests this i think that sets up for more smoother sailing going forward. >> you are keeping oon eye on dividends in a particular sector. >> that's right. if you're looking overall for the s&p you are only seeing 3% of companies cut their dividends relative to last year, if you look at the high yield markets the spread is widening that typically precedes more dividend cuts, we are probably in the

art cashin mentioned $700 million to sell, but highly concentrated in the financials today, so it mayot affect the overall market, the dow is up 83 points. sam stovall is with us and joe zock also joining us at post 9. you guys are long volatility for 2016, i guess. >> yeah, the feeling is that we're likely to see a pick up in volatility. i went back over 50 years and looked basically how many days did we have up or down volatility by 1% or more three months before the first fed increase, three months after. there was a 77% increase three months after on average. so, you know, if you think that things are volatile, just get ready. >> why do you, joe, things like names like syngenta should be attractive here? >> foreign stocks, international stocks should benefit from the rise in the dollar, the u.s. companies will be under pressure for the next couple of years if that maintains. we look at -- we're looking at a plus which is a spanish company, it's in the -- it's been hurt by the decline in oil, but it's a solid company, syngenta was the beneficiary of talk about merger activity by do

thank you for joining us. 900 million to sell art cashin just said, but looks like it's largely paired off here with the dow up almost 250 points after the federal reserve decision to raise interest rates. beginning perhaps a rate hike cycle for the first time since 2004. the s&p is up 31 points. gains of 1.5% across pretty much all the major averages. >>> and coming up, jim grant will be here explaining why he's expecting interest rates to return to rock bottom levels next year. here at the td ameritrade trader group, they work all the time. sup jj? working hard? working 24/7 on mobile trader, rated #1 trading app in the app store. it lets you trade stocks, options, futures... even advanced orders. and it offers more charts than a lot of the other competitors do in desktop. you work so late. i guess you don't see your family very much? i see them all the time. did you finish your derivative pricing model, honey? for all the confidence you need. td ameritrade. you got this. when you do business everywhere, the challenges of keeping everyone working together can quickly become the only

. >> and art cashin pointed out it's $300 million to sell, slight bias to the down side. >>> when itcomes to asian markets most of the attention has been on china lately, but we have someone here who says it's time to look at japan. when we come back. here at td ameritrade, they're always working. yup, we're constantly making thinkorswim better. like a custom screener on your desktop, that updates to all your devices. and you can share it with one click. wow. how do you find the time to do all this? easy. we combined every birthday and holiday into one celebration. (different holidays being shouted) back to work, guys! i love this times of year. for all the confidence you need. td ameritrade. you got this. you ppremium like clockwork. month after month. year after year. then one night, you hydroplane into a ditch. yeah... surprise... your insurance company tells you to pay up again. why pay for insurance if you have to pay even more for using it? if you have liberty mutual deductible fund™, you could pay no deductible at all. sign up to immediately lower your deductible by $100. and

we sit with highs of the day right now we were just showing that chart and wouldn't you know art cashining that the buys was neutral, there was no buy or sell influence going into the sell, we are up 88 points right now. what we typically get is a rally going into the fed meeting before wednesday, right? >> i think this time what's going to happen is investors will feel pretty optimistic that now we have lifted the veil of uncertainty. i think that that could actually be ringing the bell for the end of year rally that now once this fed rate hike that's been long anticipated is on the table and already spoken for, i think investors will start to he can to us on something else. >> ringing a sleigh bell as it were. >> ho, ho, ho. >> we will see. thanks, sam. sam stoi valve s&p. we will come down with the closing countdown as we continue to set highs. >> jeremy siegel explains why he thinks the current high yield bond market yields are different. this time it's different from the credit crisis leading up to the great recession. you're watching cnbc, first in business worldwide. when you do

. >>> art cashin just stopped by $500 million to buy going into the close. that's the buy.e are already starting to see that here, we're heading up 148 points on the dow with 12 minutes left. >> keeping an eye on those indexes for you. >>> also up next why dividend stocks could reap rewards for your portfolio. our guest will explain. stay tuned. me move stuff, what are you working on? let me show you. okay. our thinkorswim trading platform aggregates all the options data you need in one place that lets you visualize that information for any options series. okay, cool. hang on a second. you can even see the anticipated range of a stock expecting earnings. impressive... what's up, tim? for all the confidence you need. td ameritrade. you got this. it's gotten squarer. over the years. brighter. bigger. thinner. even curvier. but what's next? for all binge watchers. movie geeks. sports freaks. x1 from xfinity will change the way you experience tv. >>> we have nine minutes left in the trading session. we are continuing to move higher. some of that buying coming into the market he