than the folks in the cme. am i wrong on that? >> david, you are 115% right. in fact which is about the value of the stock of the cme these days because it's risen dramatically since the election for two reasons. one, yes, cme is pro-trump but number two because of interest rates. interest rates go up on long end of the curve. that is good for exchange stocks. melissa: president-elect trump aiming to cut funding dramatically and shrink bureaucracy with the goal of cutting $10.5 trillion in federal spending over the next 10 years. steve moore, i think he sent a message with the inauguration. they were very proud to say they came in 20% under budget and returning money to the treasury. that sets the tone, doesn't it? >> sure does. by the way, people shouldn't be surprised by this story because i think donald trump was pretty clear about this, that he was going to increase spending on military and infrastructure. we were going to have a tax cut but he was going to balance the budget cutting just about everything e

liz: todd colvin at cme. your prediction, will we see a little bit of a selloff because we got such unbelievable run over the past three months of last year? >> it's poible. we certainly had a roller-coaster ride so far today. we had a lot of consolidation the last two weeks of the year. so i think it's, it's important to just take a real close look at the market for the next three to four days, see where we are at end of the week. we'll get december employment reports and, then, we'll get an idea maybe what sectors and what stocks the strongest money flows are going in and out of, maybe for the rest of the month. liz: so glad you brought up money flows. i was looking at lipper numbers. lipper is one of the organizations that can aggregate a lot of the numbers. the last 41 weeks investors pulled money out of stocks funds overall. in the final week of trade last week, u.s. stock funds saw inflows. so, to see everybody as fraidy cat and pulling their money out 41 weeks straight, oh, thinking now it's good, what

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liz: scott shellady at cme, oil trending higher. that is not really the story. i don't want to focus on that. it is flat in the after-market session. let me get to dow 20,000. u.s. stocks are on a rampage and incredible roll. this would be 18th record since the election. this you have to say is donald trump rally. >> you know what, over the last six weeks you and i could agree, we would have made more money, printed up hats dow 20 now? how long is it taking? we'll need a bet to push us through the number. today's job number, something good, that was the only good thing in there, the rest was one big bowl of cold oatmeal. nothing to get your teeth into. i agree with the last comments, ted not having anything to take away good. look at trend. 2.2 million jobs created in 2016. that doesn't mean anything at all on its own. 2.7 in 2015. we're going down. 2014 we were averaging 260,000 a month. now we're averaging 160,000. donald trump has a big job ahead him. this aircraft carrier is headed in the wrong direction. liz: alan, we've seen multiple layoffs in the past ye

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we have traders at the new york stock exchange, the cme group and the nymex.matt cheslock, at new york stock exchange, what do you think is the main driver behind this selloff today? >> this is definitely a political selloff. we attribute ad lot of the rally what trump is saying. we have to give him a little credit for the downside today. that is basically what it is. we have economic news coming out with regards to earnings later in the week, as you mentioned fomc and jobs markets. he will not get anything done as quickly as we had hoped. we're talking about tax reform being one of the causes. i can't imagine what it will take to get through that reform. focus what we can this week and move on from there. ashley: alan knuckman, from the cme, we start getting pretty decent earnings reports especially the all-important guidance. does that turn the markets around a little bit? do we get more confidence built in? >> we to focus on price, not politics. she how the markets react this is the first time we've seen the s&p move more than 1% in 70 sessions or some it i

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cme group can help you navigate risks and capture opportunities.e enable you to reach global markets and drive forward with broader possibilities. cme group: how the world advances. >>> good morning. welcome to the final trading day of january. among the tests for the markets, central bank meetings. >> and apple getting ready to roll out quarterly results. >>> trending stories, including a new way to bing watch tv. it's tuesday, january 31, 2017, you're watching "worldwide exchange" on cnbc. >>> good morning. welcome back to "worldwide exchange." i'm sara eisen. >> i'm wilfred frost. very good morning to you from me as well. let's get straight to the market action. why are you laughing? >> nothing. because i said it strangely? >> no. i was looking nancy, even better on you. i don't know what it looks like on nancy, never saw her wearing it. let's look at the futures this morning, red, down 50 points. the s&p down 5. the nasdaq down 13. coming off one of the worst trading days of the year yesterday, stocks finishing off the lows down 0.8% for the na

traders at new york stock exchange, cme group and nymex.et me welco in tedd weisberg, long time colleague of mine here at new york stock exchange. you have certainly been here a longer time than i have, talk about dow 20,000 and witnessed so many milestones. this one has been painful. do you sense some resistance here? what is going on. >> you know a watched pot doesn't boil, lori. i'm not worried about getting to 20,000. i can remember when the dow was playing 550. i have seen a lot of milestones. lori: i get it, there is aot of criticism about the hype, teddy of 20,000 level. milestones i think are important. when i, for example, became, when i celebrated my 25th birth day, right, it was an accomplishment. so to get to 20,000, it is important i think for human nature to acknowledge we come from somewhere. we have come so far but has it been so fast, given the reason we've seen this postelection rally? >> i think the election was clearly a game-changer and the market is reflecting that. dow 20,000, probably no different than dow 25,000. it

cme group can help you navigate risks and capture opportunities.e enable you to reach global markets and drive forward with broader possibilities. cme group: how the world advances. >>> welcome back to "worldwide exchange." u.s. equity futures are building on the recent rally that brought us to record highs, and brought the dow past 20,000 for the first time ever. closing above that level. with us now is rich clai dshgclm pimco wh pimco. what are you telling your clients now that we reached this milestone and investors are looking at this market that has climbed so far so fast, tripling since march of 2009. how much more opportunity is there? >> i think the dow had some important tailwinds. the global macro data has been improving since the fall. you have earnings rebounding. we went through a tough patch where earnings were negative because of oil and the dollar. earnings year over year will be positive. and the effect of trumponomics, we know the direction, more fiscal, more infrastructure, and all of that makes sense. on a going forward basis, w

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cme group can help you navigate risks and capture opportunities. to reach global markets and drive forward with broader possibilities. cme group: how the world advances. >>> good morning everyone. i'm sue herera. and here is your cnbc news update at this hour. a federal judge has declared ohio's new lethal injection process unconstitutional and delayed three upcoming executions. this follows a week-long hearing over the three drug method that the state planned to use next month on death row inmate ronald phillips. the british government presenting its bill to parliament asking for permission to trigger article 50. that article notifies the european union of its intention to withdraw from the bloc. it follows the high court's ruling that it must place the matter before parliament. >>> six people were shot at a memorial for victim of chicago gun violence last night. at least two victims were taken to local hospitals in serious condition. president trump has warned mayor emanuel that he will send in the feds to chicago if gun violence is not reduced.

the last time he was on in june he recommended the cme group which is up 23%. td player trade which gained 53ers and slumberget. pnc you say has basically a great plan for new growth. >> yes. the company is a regional bank. not one of the big money centers. they have planned to expand the foot print and it is a network on the east coast that is moving west and south. and most focus domestic revenue and profits which is what we like in a rising environment. and rising short term rates should help in terms of profitability. >> it is a bank actually does barnging. >> that's right. a banker's bank. extra space storage. who wouldn't want extra space? >> this is for the folks who have more stuff than they do space. the second largest -- >> you're talking to me. >> this is the second largest space real estate investment trust. only about a 10 million market cap. the leases are relatively short term, like around a year. so as inflation rise, they can reset the rates and we think they'll benefit from that. >> and your third is a my energy. a specific niche of energy. en

--ahora, no solamente estan en ese grupo los inmigrantes sin papeles que han sido convictos de un cmeiaquellos que cometan delitos menores, como manejar sin licencia o involucrarse en una pelea. take sot cont.vo/lorena --la orden indica.. ademas.. que se deber porizar la eulsin de aquellas personas que a juicio de un agente de inmigracin, supongan un riesgo para la seguridad pblica o nacional. ;02 ;11 ;14 condado de alame anunci que prou jurisdiccin. --y es que hay muco temor ere quienes piden servicios y benef pues temen que esto los ponga en riesgode ser identificados y deportados. --autoridades del condadodijero reciban de los inmigrantes estn seguros. lorena --el presidente trump visihoy f ms de mil manifestantes... --las personas que protestan, aseguran que estn en contra de las ordenes ejecutivas migratorias de trump.... --ines ferr, hablo con algunos de los manifestantes.... take pkg nat...pop 12:06:17 "lets march!!!" con gritos y pancartas en mano... mas de mil personas se unieron para manifestarse en contra la visita del presidente trump en filadelfia. sot mabel negrete 11:35

cme group: how the world advances. >>> welcome back. shares in american airlines are lower by more than 5% today. the carrier's first quarter outlook for gross profit margins coming in below estimates. they're facing rising wages for flight attendants, mechanics and baggage handlers. >> it's not. a day after the airlines were a very strong group, southwest gave a lot of people encouragement. this is another air pocket. we'll see how that shakes out. meanwhile, also down on the day, ubs shares on the back of that bank's earnings this morning. dominic chu has more on the move. hi, dom. >> shares under pressure after posting earnings beat. profits did fall in the fourth quarter 738 million swiss franks. the swiss frank is trading pretty much parody. that was still ahead of expectations thanks to modestly better operating results and expense results. ever since the finance crisis ubs has been trying to restructure itself and focus a little bit more on asset and wealth management operations. they saw net money outflows during the period but

watching the action from the cme. lori, why did the nasdaq go to new highs today? >> let's look into that. let me show you have the names thad that pushed the nasdaq to this record. the first day of this brand-new year, we you have a declined in the indexes. the pharmaceuticals up 9.5%. this is the biggest percentage jump in two years. amazon always a winner, especially with the terrible news on the department stores. such bad news. big declines there. house the benefactor? amazon. yahoo is up 3%. verizon is investigating whether the data hack will make a difference in whether they will go through with the $5 billion deal. toyota has the auto companies object target. it's opening plants in mexico. trump is saying build that plant in america. a world professional, 10 manufacturing facilities, they g with the trump administration. disney is expected to launch a direct to consumer spn service. a lot of news today. melissa: gold settling at a five-week high today. what's with it for the turnaround. >> there is also talk, a lot of physical demand for gold, especially in

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for those who do not know, the cme office handles autopsies in the event of criminal or unexpected deaths. office,w, in the me islamic rule is burial within 24 hours and we have a religious objection to autopsy. had dealt with a family that was objecting to the autopsy and they ended up doing the burial because they all had to negotiate, lawyers got involved, and as we know, when lawyers get involved things take a lot of time. they were calling me, because wanted to avoid having to go -- they wanted to avoid having to go through that in cases where families were objecting, if possible. we were working together to create a system and process that would counsel families who and also educate the m.e. office and hospitals on muslim burial laws. this effort, on the local level, was a crucial effort that we needed to engage in that allows us to align our values and islamic guidelines with secular law. but what is challenging about doing this kind of work is that we are doing it in a charged national security backdrop. so part of my job is to get better at rapid response and help build trust bet

let's get to the cme group, get the santelli exchange. >> good morning, carl.icy, policy becomes part of the fabric of culture and markets. no matter if it is good or bad policy. this morning steve leisman gave what i would determine a final interview of jack leiu. he said if you look at the history of the last 40 years, europe has been a source of stability in terms of their being peace in europe, most of europe, and in terms of economic stilt. i get it. 70 years. cell phones? they were a dream in 1946. the way people watched tv, those that even heard of it in 1946. things sometimes change. what i found most interesting is how he put economically and geopolitically one word apart. the problem is that geopolitics captures much that is economics in it's path. let's take an example. let's look at the yur roan gone. let's look at brexit that is just a subset of that thinking. who has the right. who has the humility. what happens in the u.k. should be at the expense of brussels. is it uncomfortable for the world? yes, uncomfortable for markets, absolutely. let's lo

to the floor show, traders at new york stock exchange and cme group. i bring up teddy first.fter the election, teddy, i get emotional, when i talk about this, teddy was right, you said the election is a game-changer, game, set, match, since you said that. >> i do think so for the stock market and hopefully for the rest of us too. i think we're just in the first inning. i think we're in a new environment for the market, a very positive tone, which will go on not for days or weeks but for months and possibly for couple years. liz: but the bull market is already a little graying at the temple. >> i think i go back to the comment about a game changer. that was yesterday's bull market. i think we have a whole new game. liz: you like to say, liz, stop being so negative. i can always take the other side. let me get to the other side, that is to the other side, not the other side of the country, but certainly in the middle there. phil flynn is in chicago. we're looking at oil. the president signed the executive orders to get process going for pipelines. i would thought more oil onlin

the floor show at the moment, traders as new york stock exchange, cme and nymex.you, luke. oil shares, any stock related to oil is dragging this market down, financials secondary. what do we do about that? i thought oil would spike on the iran news? >> kudos to you, liz, you have to be a long-term listener on this program, i know we talk about daily moves for crude but we've been talking about this for several months. number one, a lot of oil companies hedged oil above 55, meaning they don't think they it can go above that they will not participate in any up move in oil. number two, everybody thinks break even for u.s. producers is 55 or higher, right? the u.s. is now the biggest swing producer in the world. if rig counts go up in the u.s. and other oil companies don't think it will break 55, it will push it lower. now other thing i will say, go ahead, i'm sorry. liz: quickly. because i want to get to alan and scott. go ahead, finish your thought. >> the thing we've got to watch right now distillate prices have gone up all around the bored. in mexico there has bee

market watchers from the cme and kimberly foss in california. so play this out for me, alan. if the expectations are that lower regulations and lower taxes will be the wind at the back for investors. what do you see happening the rest of this year? >> well, more market momentum. let's put this in perspective. the market was up 200% before the election. we're seeing the cherry on top. a big level now. we're 30% above the low that we saw last february in the dow. so that's a big, big reversal and turn around. but let's respect the fact that the market has been great for the last five years. not the economy necessarily, but the market has been great. >> neil: that's been an argument, bob, one you chatted about that maintain this pace. whether you a tribute it to barack obama or now donald trump. it has been a long bow market. uninterrupted. what do you think? >> yeah, that's part of the issue. we're coming into a market that is extremely highly valued by several major evaluation indicators. this market is highly valued as it was in 1999. although i agree, the momentum continued

phil flynn price futures, fox business contributor watching action in oil and gold from the cme. lori rothman on the floor of the new york stock exchange. lori, how much higher can we go? >> let's hope a lot more, let's hope this 20,000, it was kind of a slow grind, david. even though this is the second fastest course from 1000 points, 19 to 20 ever, it is still vulnerable. a lot has to do with trump and his pro-growth policies. a lot has to do with what we've seen pretty solid batch of earnings. let's just celebrate today because here we are finally. these are the top gainers of the dow, driving the dow to 20,000. boeing hit a lifetime high today, the story behind that expect to deliver more planes and higher earnings this year. caterpillar up almost 2%. this is a two-year high. analysts say the sales pick you are is improving. adobe up half a percent. these are among companies hitting lifetime highs. particular stocks we're pulling from a broad range of industry suggesting that the big optimism, the confidence, not just american investors but investors all across the world have

let me bring in a bunch of traders at new york stock exchange cme group.y, will you give blame or credit to donald trump every time you see a move like this? >> wells perhaps, but the market acts strange. a lot of noise out there, a lot of political stuff, but market hangs in. you have to tighten your seatbelt, hang on here because i actually think we're going higher. liz:ed to, teddy thinks we're going higher on all of this. guess what, the dow is now positive, up seven points after being down 42. high of the session up 61. but the psychology with the markets at the moment, there is inclination to give donald trump credit or blame depending on what the markets are doing. who should get the credit or blame? >> take a step back here, liz, because mr. trump has yet to even sit in the oval office for a few minutes. i think the expectations are all about donald trump, the reality is we won't know how good a president we can be until we see some data when he is in the oval office. the biggest news was actually michigan sentiment, one and three-year forward infl

let's get to the bond pits, rick santelli at the cme in chicago. hey, rick. >> good morning, carl.interesting day today. let's do a couple of pairings, shall we? let's pair tens and bunds. let's look at a two-day of tens. see the pattern we're giving up ground. as a matter of fact this could be the close that closes below where we closed at the end of last year, 2.445 round up any way you want. look at a two-day bund. going in a different direction. december 1st chart, let's look at our tens. definitely starting to give up some ground looking a little toppy. look at bunds, exactly the opposite. which means the spread should be narrowing and indeed if you look at a november start of tens minus bunds, 213 roughly is the difference. it is definitely starting to go the other way. why is this significant? we have policy diverging. isn't it just a matter of time? and who's policy is going to lead whose? mario draghi and abeconomics going to have more of a pull, or janet yellen more of a pull, i would certainly think it would be the latter. and what happens when rates go up? the currency

to the floor show, traders in london, new york stock exchange, cme and nymex are keeping eyes on the news wires right now. the i want leaders like donald trump and theresa may are changing the way people need to invest. how do you win when it's gyrating everything from currencies to stocks? >> absolutely. this is the new era. this is an unprecedented era and it is a time for you to make a decision because when you incur a move in the currency markets, we're not used to the moves. the volatility index tells you what volatility we are going to see in the coming days as well. the move we have for the currency especially the 3% move, it is very much clear when you look at volatility for sterling dollar. one month volatility at the peakest point since the bank of england made a decision. you have to be careful. before the speech today, we were looking at the currency and we said okay, we are seeing a lot of momentum coming into the market, and we have seen a level which is already broken, from a weekend and it is pretty much clear, okay, the move is one way and it is towards the upside, a

alan knuckman at cme. i hope you're still there. alan, if there are any surprises or something happens, i imagine these markets would suddenly reverse because that was not a factor they envisioned but what do you think? >> yeah. markets don't like uncertainty the look at most uncertain president-elect that we've ever had in history. that has been, you know, haven't cared so far. who knows at this point. i see more uncertainty in the next administration than i've seen last eight years but markets don't care. gold market until recently didn't care. bond market until recently didn't care. there is optimism. neil: markets can be wrong. >> rarely. neil: charles raises an interesting point a year ago we were tanking in the first two weeks, and telegraphing all this sort of trouble in the moment markets, they're volatile. just human nature, right? so are markets giving us a false signal here? >> i don't think so. i think the overall trend is still very strong and you got to look at historical trend. we periodically get dips. what happens u

cme group can help you navigate risks and capture opportunities.e enable you to reach global markets and drive forward with broader possibilities. cme group: how the world advances. >> did monday morning everybody. thank you so much for being with us. happy monday. your top stories right now. 6:30 a.m. on the east coast. the decision to temporarily be in people from seven muslim based countries sparking outrage this morning. what we couldn't do was telegraphing the positions ahead of time to ensure that people flooded and before that happens. we have to do in a way that ensured the safety of america was preserved. that would've been a massive security problem. the president's pick to run the state department facing his own bed on capitol hill. they're expected to hold up preliminary vote with rex tillerson today. the very latest on the cabinet confirmation coming up. the terror against muslims. the details at least six people are dead. set to take sides. the futures indicating a lower opening for the broader averages this morning. the jobs report o

cme group: how the world advances.: we are watching a couple of stocks this morning as we kick off a very busy earnings week for the fourth quarter. watch apple. they are considering changing the ways users unlock their iphone. it may replace the fingerprint feature with facial recognition. it's looking at fractionally lower. we are watching ralph lauren of the stock jumped on friday after first lady melania trump when outfit for the designer. it has seen its stock a decline in nearly 17% over the last year. as you can see from the chart. one person shot dead after a robbery inside a texas shopping mall. cheryl with headlights now. >> the police chief there is calling a robbery though really bad. a good samaritan was killed yesterday try to stop two men after they wrapped a jewelry store. at that rolling oaks mall. another by sinners who have a concealed carry permit shot and wounded the robert and then killed the man. the second suspect. cast in the store. the man was later arrested. a sad weekend in baseball. kansas

let's get to the cme and rick santelli and get "the santelli exchange." rick? >> thank you, carl.hen i was doing some earlier hits, when interest rates and the dollar started to turn and you could look at a two-day chart of 10s, there are some important aspects there, i made a comment, how long will it be before the dow moves into positive territory? and indeed, it did, and it has, and it's actually powered significantly through there given the size of the ranges outside of the last few days of volatility to the downside. the number this morning, well, as many have said it was about wages, but there's a lot of issues as we get to year end. i want to focus more on other things. that two-day chart that you were looking at. what i find interesting is that yesterday and today virtually both stopped in the low 2.30s. i always say intraday is important, but it's the closes. but it gives you important information, because normally, intraday swings are reactionary movements to today, of course, it was data. maybe china leftovers from some of their overnight rate volatility. but indeed tha

cme >> controversy on the campuser of asymerican university.rsity. of a man who killed two fbi agents back in 1975. the leonard pelt tea statue stau was put up by people wanting wti his clemency.mey. the school was asked to takeo t down the statue which they say is a the school released aead statement saying they will will move the statue but they willy w not say if they will removeem the statue or take it down completely. >>> the new congressionalsion tomorrow. the republicans held onto theheh house and the senate.enat on friday they'll hold a joint i session to officially counts cos the electoral votes in the in t presidential election.iden donald trump will be sworn in sn as the nation's 45th presidentre on friday january 20.ua 2 >> when donald trump gets told o the white house he'll have newua technology at his fingertips.gep president obama ordered thedere new computers and faster fte internet for his successor butcb there are questions about how much trump will even useense computers. over the weekend he told reporters no computer is safenoe fr

but first, phil flynn where the cme saw nearly a 4% drop in oil today. having a big effect on stocks. go ahead, phil. >> it really is. it's weighing on the entire complex today and you can blame oil prices for the dow probably not hitting 20,000 today. and a lot of it is about iraqi oil production. we've got a report over the weekend that in december, they exported a record amount of oil of over 3.5 million barrels of oil. and even though iraq is coming out saying, listen, we're still going to adhere to production cuts, a lot of the traders are not believing it. that really started the ball rolling to the downside. we also had these concerns coming out of china with this currency correction that we've seen right now. they seem to stop the outflow. there's concern that a stronger dollar versus the chinese currency will make it harder for china to import oil, so that's been a negative. but gold is up big today on the weak dollar. back to you. melissa: all right, phil, thank you. lori, retail continues to tumble. who are the names that you're watching right

watching action on gold from floor of the cme. lori rothman on the floor of the new york stock exchange. lori, start with you. what was driving the trade here. >> dollars was a big theme throughout the session. what is wrong with a strong dollar? multinationals that do a whole lot of business like nike, mcdonald's, makes it more expensive for them to do that business. since trump took office he is up 2, 3%. stronger dollar means we have strong economy. you don't want it too strong because it does give companies as trump compared it to like china which has been falling, some people interpret as unfair advaage. so that is dollar strength versus yuan weakness from our president-elect trump along with critical comments about a republican tax plan really weighed on financials today. look at morgan stanley, down 3 and 3/4% despite earnings that climbed over 85%, 83% as a matter of fact. this is strongest fourth quarter for morgan stanley since the financial crisis. because of the overall sector weakness financials having the worst day s

phil flynn, watching action in oil and gold from the cme. lori rothman from the floor of the new york stock exchange. lori, oil losing big. >> this darkening shadow over retail sectors. we heard from some retailers about disappointing season. target had a traffic warning. looks like four numbers will meet earlier expectations. target down almost 6%. dollar tree, macy's, jcpenney all down. macy's had price target cut by credit suisse. jcpenney was put at underperform. the brick-and-mortar story is falling apart versus giants like amazon online. let's talk about the banks. goldman sachs reported a fourfold rise in quarterly profit benefiting from a surge in trading volume from the surprise win of donald trump. didn't help the shares. got to look at goldman in perspective. goldman led charge higher with financials and market as a whole since the outcome of the election. no surprise it backed off. we saw gains in other major financials today. citigroup up 15% since the election. fourth quarter profit rising 7%. but it came in a little bit here t

meantime, let's get to the cme and check in with rick for "the santelli exchange.", rick. >> hey, carl. you know, when it comes to the dollar index, in my opinion, it's kind of a technically based fundamental trader in my day, it's all about time! you know, time is as relevant as price when it comes to being a technician, and there used to be a technician out there that was called gan, w.d. gan, and for him time was more important than price. we can debate that, but there is plenty to learn. we're going to the whiteboard. my charts aren't necessarily anatomically perfect, but it is really more a question of patterns. so, when we look at long term, 20-year chart on the dollar index, and pretty much this is maybe a bit higher, but that's not the point. the way the market broke out, the way it traded over 100, and the way it looks on a 20-year chart -- remember, a 20-year chart, back to the element of time, is pretty much made up of monthly closes, schnock now, it doesn't have to be that way. if you have a really big den where your office is. because if it is a monthly

phil flynn, price futures and fox business contributor watching action in oil and gold from the cme for us. adam shapiro, on the floor of the new york stock exchange. adam, let's first start with you. big movers today. >> there were very big movers today let's talk about some winners on the dow and s&p 500. boeing up 5%. "wall street journal" market group says a lot of rise in the dow this week you can attribute 20% of that to boeing. up, up and away with the airplane maker. microsoft we saw a great earnings beat yesterday. they were up 5%. caterpillar is up anywhere from 500 billion to a trillion dollars in infrastructure spending, that is what president trump wants. s&p 500, winners seagate technology up 22%. united rentals, nn resorts, americans want to go on vacation and wynn resorts and royal caribbean. it is up 11%. peso gain ad little strength against the u.s. dollar. donald trump, the president toning it down a bit with the mexican president. people seem to be a little bit relieved by that peso gained against the dollar. back to you. cheryl: when you see you dow 20,000, time for

. >> let's get to the cme group in chicago. check in with rick santelli. appearance on the big network, rick. >> thanks, carl. and i'd like to get to my first guest of the week. charles biederman, biederman, biederman. charles, you're all about trying to markets with flows and other ways you handicap what you write in your prospective. you believe it might be topping out. why don't you tell us why. >> well, there's been a record inflow into the market since the election. over $100 billion has gone in, which is -- which always -- which is something that only happens at market tops. last time we had this much going was '07. similar to attend of '99-'00. huge inflows by individuals or whoever is putting money into equity ets think that nirvana is ahead. you know, it could be that they -- they got in a little bit ahead of the improvement in the economy. remember, corporate buying has been the sole source of money for the market since the end of 2011. no new money has gone in to mutual funds or u.s. equity etfs by individuals or anybody. there's been a net out

phil has details from the cme in chicago. lori rothman is back with us. lori, exxonmobil the worst-performing stock in the dow today. how come? >> so it was the worst performer but pretty awesome windfall for the soon to the former ceo who of course has been past secretary by president-elect trump. his nominee for secretary of state. he's serving ties with exxon but in line to receive a 180 million-dollar retirement package. so it's interesting that exxonmobil is down a buck today because the price of crude oil was actually higher 1%. i want to move on to some other stories, popular names you probably own in your portfolio. apple. the news is that apple is securing a $1 billion investment in soft bank business fund. this going to help finance technology that could be used in the future. driverless cars, hint, hint, for apple. we'll follow that one for sure. and weight watchers. big day. six-month high with a gain of almost 21%. price target was bumped up to $28. so, look, 13.40. 28-dollars price target increase by the firm. hey, we'll take it. probably th

. >>> let's get to the cme group, rick santelli. >> good morning, carl.the question everybody's asking that has anything to do with trading, markets, or investing passive or active. how much giveback are the markets going to put investors through? maybe that was the second question. the first question, of course, before we had some replacement activity, many markets giving some back since the election, was, how far can a market go, how healthy is the market when it's a linear move. we're going to try to answer some of those questions on the give and take of the post election markets. quite simply, i'm going to look at four, two-year, ten-year dollar and s&p. giveback is another word for replacement. and you all have your computer programs. that's not the way i do it, i'm sorry, i'm old-school. fibonacci numbers. yes, there they are. and replacements. most people look at 62%, 61 and change. 38%, 23%. many nontechnicians use 50%. doesn't make it any less valid. we want to know where they come from. see, i was hoping you would ask that. the main thing about

let's get over to the cme group and rick santelli for the "the santelli exchange.", rick. >> good morning, carl. a lot of things changing. this administration's moving fast. we just had kara swisher on. we know that she likes disruption, she likes disrupters. she thinks it's a positive. when it comes to things politically, maybe it's still a positive, but it can be a bit unnerving. now, markets many times have to make adjustments for big changes in strategic politics, policy legislation. but i'll tell you something, there's a unique situation this time. cnbc gets the best of research and we share it, whether it's on the air or cnbc.com. and one of the pieces that was sent to me recently, and it's about the eighth piece on this topic, was jpmorgan, okay? and what it's about is u.s. border adjustment not so bad once you get to know it. now, embedded in here is really some great research and lots of math, but we're going to simplify it, okay? i only get so much time. "if exchange rates adjust in line with theory, retailers and commodity importers would have nothing to

now rick santelli at the cme group. "santelli exchange." what have you got for us, rick?ll, today, jon, we have peter schiff, and he will be here eventually, but what i want to talk about, when he arrives, is the debt clock versus what -- ah, peter, there you are! welcome! >> hey, rick, how are you? >> all right. listen, peter, you and i both have many things in common. one thing we have in common is we don't like national debt at $19,9 $19,965,000,000. we just hit 20,000 in the dow jones industrial average, so my question to you is simple, okay? is there any way that any president is going to avoid a debt bomb? >> no. the debt bomb is going to explode. but what we've been doing with the debt bomb to defuse it is the federal reserve has kept interest rates at practically zero, so at least we can afford to service the debt. repaying it is completely impossible, but at least we can service it when interest rates are at rock bottom, but that's already changing. interest rates are going up, inflation is going up, and so creditors are going to demand a higher premium to hold o

let get to the cme in chicago. rick. >> good morning, carl. yeah, let's stick with that because to me the most important issue today is that relationship that exists between fx and the fixed income market, the interest rate market. why? because conventional wisdom dictates that everything going on in stocks, a fed that's moving at normalized and tightened policy, all of this going to make a dollar that's going to hurt multinationals. well, maybe there's another side to the story. look at a two-day of tens. covered a lot of ground from the 30s right back up to 2.5%. look at a one-year chart of tens. basically hovering at levels of course will be the new high closes of 2017. but maybe here's the big story, look at a one-year chart of gilts on the move higher approaching 115. look at one-year chart of oates, the french 10-year, getting close to 1%. look at that move. pretty aggressive. look at canada, 1.80 moving higher as well. all of these are higher than they were around november 8th, you know what happened that day. and look at a one-year cha

cme group can help you navigate risks and capture opportunities.le you to reach global markets and drive forward with broader possibilities. cme group: how the world advances. > >> president trump and the republican, yes, they plan to cut taxes across the board and congress us now is the republican from illinois and tax policy subcommittee chair. congressman, welcome to the program and great to see you. >> thanks, stuart. great to be with you. stuart: a lot of conservative, a lot of people who want to see the economy get going are very worried that we won't get the tax cutting program through until late summer. what say you? >> well, i say there's an urgency to this and there's timing and here is what we've got to be mindful of. we've got to move with dispatch and momentum and move forward expeditiously, but you didn't jam tax reform. we know from the affordable care act, and we know what happened when they tried to jam it. let's flip the game board and come up with an entirely new tax system, we can do it. stuart: but we're going to repeal and rep