tonight on "fast," the hunt is on, comcast and economy going head to head for fox our own david faber will be here >>> plus we're two days away from a potential government shutdown as the house and senate are battling over the tax bill on capitol hill. we'll tell what you it could mean for the markets >>> the banks have been the teflon trade of the year despite a tough environment. but something just happened that could spell trouble for the whole group. we'll tell what you. >>> first, the global selloff. markets everywhere from europe to asia to south america all getting hit over the past month except for here in the u.s., which despite the recent volatility is still up 1% in that time. we know it's a small world after all. is the u.s. the next market that's about to crack? guy? >> the vix closed lower today, we mentioned that last night the warning signs are not there in the vix pete can speak to that the selloff in the hang seng index to me has been very interesting and something you have to continue to watch. i mentioned it because look at where we topped at the hang seng at the b

i'm carl quintanilla with david faber an

i was skeptical and mentioned it on my mad dash with david faber.hey pointed out the metrics of chipotle aren't cheap enough to make someone want to buy it. i was suspicious too but the empire cal data and rigor of the work cannot be denied i know some were scared off. i don't blame you. this is when you need to be reminded you buy stocks because of the big picture because of what the companies are doing. not just because of tax reform always have your shopping list at the ready on "mad money" i have the exclusive with a company focused on two of the hottest teams in this market. drone and electronic vehicles. where could it be headed going into the new year and pointing out stocks offering you prime time names from what i just talked about and nutanis is up from 90% when the company's ceo first joined it. i've got the exclusive with one red hot company and the ceo. so stick with cramer >> announcer: don't miss a second of "mad money." follow @jimcramer on twitter have a question, tweet him #madtweets or send him an e-mail at madmoney@cnbc.com or gi

thanks for joining us. >> thanks. >>> sources telling cnbc's david faber that a deal is near for fox assets to disney he's going to join us next with the very latest details on this one. >>> and speaking of disney, we're just over a week away from the release of the latest "star wars" movie. will "the last jedi" be as much of a force at the box office as the previous "star war "films? 'le.se >>> adam aron to explain how much the box office is betting on another hit from a galaxy far, far away. it's all yours. wow! record time. at cognizant, we're helping today's leading life sciences companies go beyond developing prescriptions to offering subscriptions with personalized, real-time advice for life-long, healthy living. honey? you almost done? nope. get ready, because we're helping leading companies see it- and see it through-with digital. >>> we have another earnings alert, let's get back to seema mo mo mody. >> take a look at this stock, aerovironment. 29 cents the street was expecting a loss of 6 cents revenue at $73.8 million intervinte, this a company that specializes in unmanned

david faber. >> send it to jon fortt for what's coming up on "squawk alley.we've got new york investors kevin ryan, who you might know from mongo db, business insider to talk about how government policy might affect tech, get veis some of this media and adrting stuff going on in the market as well that's coming up on "squawk alley. >>> for on state of retail and retailers competing with amazon bring in david koehler, a privately held company that focuses on kitchens and baths. thank you for being here. >> thank you for having me. >> in this country where we're so house obsessed, there's few things people love more than a newly renovated bathroom. >> we like to think so. >> before we move it showrooms and why you're expanding to retail front, can you tell us, what do you think about tax plan, effective tax rate, is it going to be good for you >> we're certainly going to benefit greatly from the tax plan like all c corp.s will. we remain concerned about income inequality, the deficit we're building and how we build the workforce for tomorrow and focus on educat

i'm david faber.is jim cramer we've live from the new york stock exchange our colleague carl has the day off. let's look at futures as we set up for the last trading day of the week quite a day yesterday, wasn't it maybe open slightly lower. there's a look at the statistically meaningless dow jones as well, which is showing a little bit of green. european markets, let's take a look and see how we fared, particularly what it was like to look at spain and italy. the ftse the only winner right now. the dax down almost 0.5% and that ten-year note yield has been creeping up a bit over the last week or so. but hanging right in there at the 2.4 level. another big story is wti and brent 58 out of the opec meeting in vienna. >> yeah. >> the question was about russia >> you follow that guy >> yeah. >> he's like a great reporter. wow. is he good >> let's get to our road map this morning and it starts with that rally and maybe a bit of a pause futures are flat you saw that just now. investors await, of course, wh

some of these other people, kelly, they don't call back once they call once >> david faber, thank youf lululemon and broadcomm rallying we have the latest on those results. what are the ingredients of a life well lived? is it the places you go? the things you own? or the people that fill it with meaning? for 150 years, generations of families have chosen pacific life for retirement and life insurance solutions. protecting what's most important to you. that's the power of pacific. ask a financial advisor about pacific life. >>> broadcomm's conference call in isjust a couple of minutes we'll tell what you to listen for when we come right black i think we should do that meeting tomorrow. well wait. what did you think about her? it's definitely a new idea, but there's no business track record. well, have you seen her work? no. is it good? good? at cognizant, we're helping today's leading banks make better lending decisions with new sources of data- so, multiply that by her followers, speaking engagements, work experience... credit history. that more accurately assess a business' chances o

david faber, back to you >> thank you, rick rick santelli.er now to john forth, get a look at what's coming up on "squawk alley." john >> bob peck, head of internet investment banking at credit sweeps is going to join us to talk about the outlook for 2018 in tech. when you think about what's happening in media, what's happening with m & a, no better time to dig in that's coming up on "squawk alley" mary had a little lamb whose fleece was white as snow. but after an electrical fire from faulty wiring, mary's vintage clothing and designer shoe collection were ruined. luckily, the geico insurance agency had recently helped mary with renters insurance, and she got a totally fab replacement wardrobe at bloomingdale's. mary was inspired to start her own fashion line, exclusively for little lambs. visit geico.com and see how affordable renters insurance can be. >>> welcome back to "squawk on the street," i'm dominic chu markets are starting to lose momentum here after setting record highs across the major indexes yesterday. tech and telecoms among t

. ♪ >> good morning, i'm david faber.arl has the day off let's look at futures as we start a full week. keep having to remind myself i keep thinking there's a day off. five straight days we'll start -- when we get started with a strong open, european markets generally had been fairly good. let's see if the gains are holding in europe. yes they are the dax, chief amongst the leaders with quite a significant gain this morning. 10-year note yield, been hanging around the 2.4 level there we are, 2.378. you can see wti up 32 cents. let's get to our road map this morning. it does start with that market rally you just saw the futures are pointing to new records on growingconfidence that republicans in the senate and house are going to pass that historic tax cut plan this week. plus, we'll have more on csx, investors are worried given the turnaround strategy may be in doubt after the sudden death of hunter harrison. surging in the pre-market after an upgrade from jp morgan. and we've got plenty of deals to talk about this morning

back to you, david faber >> thank you, kayla.rt cashin has had a more than respectable track record and predicting major market trends bob pisani took a look at his calls over the last several years. >> it's a tough business being a market prognosticator. art cashin has had a respectable track record over the years with more hits than misses. as we enter 2014, the 5-year-old stock market rally copied. but he was already thinking profit earnings and margins were starting to top out. >> they have cut and diced their way down to record profit margins followed by record profit margins, followed by record profit margins. now, that can't continue my 50-year history tells me profit margins revert to the mean. >> the profits recession did indeed come but not till later that year and into 2015. going into 2015, his biggest worry was china. >> the people's bank of china is very concerned, and they are looking at doing something to stimulate almost a way to, i don't want to use the word force lending but really promote lending as well as th

i'm kwk kwk with david faber, melissa loo here at post nine of the stock exchange sara is off.and s&p with a ton of news the election in alabama, cpi, a fed meeting, and the president later today on the tax bill. our road map begins with d-day at the federal reserve stocks in the green as policymakers get ready to make their final rate decision of the year fed chair yellen gets ready to deliver remarks at 2:30 eastern time >> mega media deal we are closely watching for that announcement expected perhaps as soon as 24 hours from now from disney and fox we'll give you details straight ahead. >> apple making a major investment in finasar, which it says will create 500 jobs right in theu.s. >>> first, let's get straight to that heated senate race in alabama. democrat doug jones winning last night's election, although republican roy moir still has not conceded john harwood joins us from birmingham morning, john. >> morning, carl as we have discussed, stunning outcome, where democrats managed to narrow the republican margin in the senate from 52 to 51 in one of the most conservative

david faber reports the disney fox deal is expected to come down tomorrow.ording to sources enterprise assets could be $50 million. fox shareholders would keep 25% of the new disney. we've had a lot of discussion about what scale actually means in this day and age. implications for hulu, for the remaining company and what happens to them after the fact management what's going to be your big question >> for me it's how quickly can they ramp up subscribers direct to consumer platform and what original ip they make on that platform because if we look netflix obviously has shown the world a low cost, $9, entry fee. people will sample i heard the best deal in media it's not wrong, it is the best deal in media. disney over the top service combined with netflix features is a huge winner how quickly they can role that out and what original ip they can create to pull people to it, x man tv series and only available, obviously that's a franchise owned by fox, if they have that franchise in a direct to consumer product, i think they are going to win big. the one caveat

i'm carl quintanilla with michelle caruso-cabrera, david faber at the new york stock exchange sara's up 104 on a pretty good day for equities we'll go through all of that with david kostin. road map begins with comcast out announcing it has no longer bided for the 21st century fox assets, paving the way for disney, potentially this week. >> a red flag for bitcoin. the fcc warning investors of the dangers of putting their money in crypto currencies this has bitcoin edges closer to 20 thrown. >> and it's election day in alabama's controversial election we'll take you live to birmingham for an update >> stocks open mixed this morning. the dow and s&p in positive territory. the nasdaq in the red. all as republicans work toward passing that long awaited tax bill before the end of the year. for more, we're joined by goldman sachs chief u.s. equity strategist david kostin. always good to have you. >> thank you >> goldman's take has been relatively optimistic this gets done, if not by the end of the year, then certainly by early next year, right >> correct >> that's led you to calls such as i

i'm here with jim cramer and david faber. futures suggest it's going to be close.

i'm david faber. with me, kelly evans and mike santoli. carl, john

i'm david faber along with kelly eva evans. have the day off let's look quickly at how we fare on the markets a half hour into trading the dow barely eking out a gain, despite what is sasignificant weakness of shares of apple. a key dow component, particularly giving the price weighted nature of that index, but it's manage to be slightly in the green s&p and nasdaq both lower. our road map starts with the dow. up 500 points for the month. four trading days left in the year will stocks continue what has been a five-week winning streak? >> bitcoin is bouncing back after plunging last week we'll find out why m.i.t. thinks there's much more to it than just the price >> plus, president trump not just a big legislative win with tax bill, but will charities suffering. >> the dow is on pace for the first nine-month win streak since 1959 we're joined by brian, bmo's chief investment strategist. what's your price target next year >> 2950 on the s&p 500 we do not project the dow as it's only 30 stocks and the majority of portfolio manager

david faber, back to you >> thank you, mr. to jon fortt, get a look at what's coming up on "squawk alley." >> well, we have dan niles from alpha one coming up. he used to be a chip analyst now he's looking at the broader market, and he was nervous about how high we were moving midyear. we'll see how he feels now plus, get his outlook for 2018 and his take on what bitinco really is. that's coming up on "squawk alley. ♪ let out your inner child at the lexus december to remember sales event. lease the 2018 es 350 for $319 a month for 36 months. experience amazing at your lexus dealer. win an uncertain world?k predictable income pgim sees alpha in real assets. like agriculture to feed the world. and energy to fuel its growth. real estate such as e-commerce warehouses. and private debt to finance transportation and infrastructure. building blocks of strategies to pursue consistent returns over time from over $120 billion dollars in real assets. partner with pgim. the global investment management businesses of prudential. >>> bitcoi

i'm here with jim cramer and david faber. futures suggest it's going to be close.e expect a reconciled house senate bill today. and europe's weak again, dax down for a fourth consecutive day and empire, our first december number comes in soft, raising eyebrows, a five-month low. movement on tax plans, we're awaiting this morning to see the combined conference bill and details behind which cuts and deductions survived. >> plus the latest on disney and fox, including the bid the murdochs said no to. >> a busy morning f stocks on track to erase thursday's losses. yesterday's worries about a setback were sparked by senator rubio saying he's a no vote unless the child tax credit is expanded they are trying to find ways to pay for maybe that additional deductions, it's going to cost $200 billion, perhaps they let some individual breaks expire here early we'll see. >> it's very interesting that the market went down and dow went down 70 points on worries about rubio, maybe something else or other senators now there really is great uncertainty and the market is going back u

i'm carl quintanilla with jim cramer and david faber at the new york stock exchange. futures higher as the dow tries to avoid its first three-day losing streak in about three months plentyecon data as we watch companies respond to the tax bill europe's roughly flat. final q3 gdp revised down just a touch, still solid at 32 claims at a five-week high bon employee bonuses of $1,000 at some places. >> now on to the next total in washington the shutdown as the deadline approaches we'll go live to d.c. for the state of play. >> and the apple conspiracy theorists were right the company does slow down your old iphones and consumers are upset. details on that, coming up >>> first up, though, as the tax reform bill awaits the presidentpresiden president's signature, many companies announcing bonuses, pay hikes and capital spending sn initiatives. at&t will invest an additional $1 billion in the united states. our own parent, comcast, says it will give $1,000 bonuses to more than 100,000 workers and spend more than $50 billion over the next five years in infrastructure boeing,

i'm carl quintanilla with david faber. michelle caruso-cabrera is here.art off the week. dow at 257 record highs on the dow and s&p as the senate passed the tax bill early saturday morning. progress on capitol hill >> plus, a massive deal in, well, pharmaceuticals to some extent and health insurance. cvs announcing it will buy aetna. the year's largest deal, one that will reshape the industry as we know it. >> coming up, the billionaire behind calls for trump's impeachment. tom steyer joins us to talk tax reform and the state of washington politics. >> big morning for macro as well rick >> well, thank you, carl we have some october data for factory orders we were expecting the october to be down .4 it's down .1 but we did get a nice revision last month's 1.4 now stands at 1.7. if we take out transportation, the number dramatically improves, which is a good thing. up.8, and a 0.4 positive revision last month. let's get to the biggy, shall we durable goods orders, final october. we take the early october and toss it. this number is down 0.8. the last number

i really appreciate it david faber, back to you. >> thank you, rick santelli. fortt and get a look at what's coming up on "squawk alley." >> david, one hour, three stocks, three big earnings moves. we've got the ceos of stitch fix, red hat and different areas, three diffentre moves we'll dig into all that coming up on "squawk alley. i think that she's a very nice girl... you never got the brakes looked at? oh yeah. no. at cognizant, we're helping today's leading manufacturers make things that think and do automatically. imagine that, a world of new digital products and services all working together for you. can i borrow the car when it's back? get ready, because we're helping leading companies see it- and see it through-with digital. >>> welcome back to "squawk on the street." markets mixed as they are set to push the tax cut over the finish line despite the recent uptrend the group of stocks up 4% over past three months you've got names like philip morris, altria, campbell among those pushing lower. philip morris down 2% in the wake of reuters report revealing

in the hunt for some of fox's assets let's bring in our guest let's start with the headline that david faberreporting this week, which is that there's a very clear front-runner in the race for the fox assets, that's disney. do you agree with that >> yeah, absolutely. disney is a compelling sort of consolidation in a number of areas where fox is active, including in the movie studios, gives disney a way to position itself as an over the top player internationally, and bring in a host of entertainment assets which is what companies are looking for in some way to address the question of whether they will get wiped out by netflix, amazon, facebook or google this is all reaction to forces that the internet is bringing into the industry. >> you're framing this as to why this makes sense for disney. one could argue it makes sense to comcast and verizon in terms of 9 deals and offers on the table, is disney's the best in fox's eyes >> we believe that is the case the reason for that is that disney's offer, if you analyze the regulatory anti-trust scrutiny which is severe in this industry which is alr

itch been telling my morning partner david faber that hot tan always gets his man. i think he gets qualcomm it's a huge win for shareholders including my charitable trust. which you can follow along at action -- club members another one of my favorites -- lululemon reports on wednesday judging by the red hot earnings -- remember the best christmas season in four years and the strength of gap at leisure line i bet lulu puts up terrific numbers we have an analyst meeting on wednesday, my favorites, home depot. maybe some says sell the news -- or hear more about the flynn thing, you might want to buy home depot that day in order to profit from an exceptional home depot analyst meeting. thursday we hear from dollar general. this is a controversial one but not for the reasons you think. normally i just tell you to go buy it, why? i'm expecting a good quarter not this time though because dollar tree it competitor told such a good story it moved up the stock of dollar general we'll be late -- i fear it will be a sell the news aspect of this quarter let it come down maybe t

i'm david faber. with me, kelly evans and mike santoli.l, john, and sara are all off this morning of course, our last trading day of the year. speaking of 2017, it has been a blowout year for technology. the nasdaq gaining roughly 30% the index on pace for its sixth straight positive year in a row, the fifth time since 1980. bertha coombs is at the nasdaq and she has more for us. bertha >> david, as mark twain put it, history doesn't repeat, but it often rhymes, and that's certainly true with the nasdaq 100. the big caps up for the ninth straight year in a row, the longest annual streak for the index since the big tech breakout of the 1990s. these four mega caps, you know them, apple, microsoft, amazon, they've made the biggest impact in terms of the upside gains for the s&p 500, overall market, and when you add in alphabet, they actually account for two-thirds of the nasdaq 100's 15-point gain this year microsoft benefiting from its shift to cloud technologies is up for the sixth straight year, that's its best straight winning streak sinc

. >> fox and disney may announce a deal as soon as thursday, according to our own david faber.e a listen to jim cramer talking about what the deal could mean for both disney and for espn >> one of the reasons why i like this so much >> yes >> is that you will now hear talk that if disney really feels there's a problem with espn, they combine it with fox and they can spin it off to shareholders, fox sports >> whoa. fox sports is not going with espn regional sports networks >> regional sports if you've been shorting disney because of espn, it might be a mistake. >> how likely is disney to spin off espn with the regional sports channels it could acquire from fox and is jim right, is it a mistake to bet against disney or iger for that matter >> i think it is there's a new measurement, it's called total live audience measurement or tlam. they're ratings have gone up and there's probably an ad tail-in for these guys i would never count out disney or espn. bam tech, why shouldn't they be in control of their destiny? >> those are huge numbers, we're talking about billions per year each

get your take the latest on disney's potential deal to purchase assets from 21st century fox our david faberorting a deal could be reached as early as this week. kara, everybody wants access to this programming apple, google, amazon, et cetera if disney ends up with this, how does that change the game? >> well, it's starting a streaming service and it needs stuff for it this gives it an enormous trove of content to have access to, obviously. it's reactive to the success of netflix, puts a lot of pressure on netflix also shows you how difficult it is to remain in the content business unless you have scale, you know, a lot of this stuff is not -- is being put over streaming services or on demand, and so you really do have to bulk up. it also says probably bob eiger is not running for president this is a big deal and big degrad integration, but the more assets that people want to use, again, subscription services or being part of a disney universe is really important it will be interesting to see what happens to the rest of the fox assets if they reintegrate with news corp., that would be inter

david faber, morgan brennan joining me here this morning carl and sara have the morning off. >> all rightt's get to the markets this morning kind of a mixed morning for the major averages, following yesterday's record-setting session which saw the dow break through 24,000 for the first time ever on its first daily performance since early march. the nasdaq the only one of the major averages that is in the red right now. the s&p had been down most of the session, but recently went into the green beneficiaries of tax reform, certainly, a part of that. joined right now by brian beltski, as well as portfolio manager tony crisenzi. first, a lot of what's been driving the markets is, what i said, expectations we will get a vote on tax reform and it may be one that passes the senate let's get to you monitoring the developments we do see things are in, right now at least, not in session, but should be again soon, right? >> that's right. several key senators, including holdout bob corker, are now saying that republicans do have the votes to pass this tax bill. the holdouts appear to be corker himse

i'm carl quintanilla with michelle cariceo cabrera and david faber at post nine of the talk exchange. 12 point on the dow. busy morning consumer spending and income, durables, and we're going to rick santelli for more numbers rick >> absolutely. now, we have our final read. final read, on university of michigan sentiment, and our mid-month read was 96.8, which is a bit higher than our final read at 95.9 it is a bit of a disappointment. lower sequentially, a point and a half, maybe two points loeter than some expected, but it comes back to the lowest since september because the numbers have been running so high. that 96.8 is gone now. if you look at the last solid month, that was 98.5, the november final that gives you an idea of what's going on quickly, one-year inflation, 2.7. one tenth hotter that the med-month look the five to ten-year inflation at 2.4, also one tenth lighter let's go to november new home sales. i'm glad i could give you the last number before the holidays is a good one because this is good one 733,000 seasonally adjusted annualized units that's not too bad it's up

i'm carl quintanilla with david faber. michelle caruso-cabrera is here. sara eisen is off.rotations in various sectors, but the headline indices down a touch on the dow. down 34. s&p largely unchanged. our road map begins with a busy day in washington. tax reform, banking regulation and a bill to fund the government all on the docket a look at your money straight ahead. >> and a dizzy/21st century fox deal getting closer. both sides closing in on a deal that couldcome as early as nex week >> and starbucks announcing a partnership with alibaba we're going to take you live to shanghai, and hear from howard schultz. >> the long awaiting tax bill has passed through congress. a looming shutdown at the end of the week threatens to derail some reform efforts. for more on the impact on the economy and markets, jan hatzius is here at post nine for a cnbc exclusive. good to have you back. welcome. >> nice to be here >> upped your odds of the bill being enacted prior to the senate vote, which ended up being a smart call how likely it is now >> very likely that we'll get something by t

david faber at post nine of the stock exchange sara eisen is off. get to rick santelli >> so boy, we have big data points out university of michigan, of course, this is the december preliminary number and it's pretty good but it's certainly well less than expected. we're looking for a number close to 100, actually maybe in the camp of 99. we end up with 96.8. 96.8 now, this is preliminary, and there could be big changes with final, but even sequentially, it's a back away from 98.5 let's look at the other data out today, a little older, but still fresh. october inventories down .5 in october trade or sales, up .7. inventory down, sales up inventory down makes people nervous because it has implications for downgrading gdp. i happen to understand that, but when i look at up .7 with regard to sales, i see maybe we're moving the inventory as well, so i don't look at it as necessarily a bad pairing. we do see yields creeping up just a little bit. we want to pay close attention to that dollar index, trading near a critical level at 94. carl, back to you. >

i'm carl quintanilla with david faber and melissa lee.ob iger is about to join us as disney buys a big chunk of 21st century fox. retail sales up 0.8. but we know what the lead is today. >> yep, we finally got the deal we've been talking about now for more than a month, of course disney buying those fox assets that we've detailed time and again over this last, let's call it, five weeks or so since we first brought the story to you of the talks between the two it is a large deal, to say the least. depends on how you want to value the equity right now, at current prices, and if you take into the considerations that minority interests, it's about 55 billion in equity. some 515 million shares of disney will be exchanged for the fox businesses that are going to be sold to disney. we're talking about a deal with an enterprise value of $69 billion. they'll take on $14 billion worth of debt. tax liability which i finally got clarity on, $8.5 billion to fox. that is the spinco, could come down as a result of tax reform, the lower tax rate and that

various assets of 21st century fox in a deal worth dl more than $66 billion when you include the debt david faber broke the story weeks ago that the two companies were in talks and lo and behold, it's soup now. congratulati congratulations. >> thanks. >> we were reminiscing about the various deals you've broken over the years. >> yes, you and i go back to my first big one, british telecom and mci. $2 $22 billion deal in inflation? >> exactly that got to the finish line on this one, bill a lot of talking going on between disney and fox and also our parent company, comcast and fox. that's sort of where we want to begin today as we head toward the later parts of the day comcast did compete vigorously for these assets people close to the company indicate, or people close to all the companies involved, that being the people who were advising and so forth, indicate that the bid from comcast, in fact, did have a higher value than what fox accepted from disney we all know our parent company fairly well here, brian roberts, of course, somebody i followed both as when i've been working as a part of this co

i'm david faber look where mike santoli and melissa lee. live at post 9 sara and carl have the day off today. let's get to economic data we have crossing the tape right now. jim has those numbers for us jim. >> hey, david. we have the consumer confidence number came in it came in at 122.1. we expected 128. that was after a fairly blockbuster number last month of 129.5. even that was revised a little lower. so a tiny bit of a disappointment in consumer confidence numbers still very high, hovering near 17-year highs. reaction in the stock market was a tiny bit positive. also pending home sales. we were expecting negative .5. it came in as positive .2. that was after last month we had a 3.5, but that was because we pulled from hurricane related months and kind of front loaded it in those months the reaction is pretty muted stocks are up about 1.5. the ten-year yield is about 2.446, which is where it started. back to you, david >> thank you, jim. >> our road map this morning starts with huge multignashes who are announcing changes to their bott

echos kind of what he told david faber in an interview not terribly wrong ago, assets of discovery beinged at a time when disney and fox are tieing together and assigning a premi premium. >> is the one thing i learned many years about john malone is not to try and read too much into anything he does. he's such a deal guy he's so tax-driven he's thinking usually a decade in advance i don't know i would just say, you know, he's the kind of person, he's very clever, and i don't -- i would never make a quick read of anything he does for any short-term read. >> i think that's totally fair john, what would you read into this, then, if anything? >> well, one thing i learned about the stock discovery when i looked into it is it's a strong sell and the earnings estimate revisions are going down so the bottom line with the stock like this is as cheap as it is, a forward p/e of ten is going to get cheaper you want to hold off on this story. the bottom is not in the stock i'd probably wait for even another few dollars a share to get knocked off before i buy the john malone story as well. >>> all rig

it would appear that disney has that inside track and as david faber was reporting yesterday, bob igery around longer than anticipated if they get that deal done >> yeah, and i wonder if some of the fox people who might want a leadership position over at disney were necessarily terribly happy about him staying -- >> so we've heard. so we've heard. >> yes let's move on. here's what's interesting about today. remember we've been talking at how far this trade can go, this rotation trade going into things like retailers, for example, industrials, telecom or banks that would benefit from the tax cut. take a look at what's going on today, everything went up. transports went up the russell 2000 went up semiconductors that been been sell off a few days ago, up again. retail, that's back again. the s&p is back again. we basically had a nice little modest overall lift in the market down from where we were. this has been an interesting consolidation in the last few days the volatility has been much, much lower the rotation isn't as obvious. >> what are you hearing about the jobs number tomorrow m

. ♪ >> good morning, i'm david faber. we start a full week. keep having to remind myself i keep thinking there's a day off. five straight days we'll start -- when we get started with a strong open, european markets generally had been fairly good. let's see if the gains are

i'm david faber, we're live from the new york stock exchange.at futures right now. start tr

. ♪ >> good wednesday morning, welcome to "squawk on the street" i'm carl quintanilla with david fabert day in eight months as they watch the tax bill negotiations and expected decision to use the u.s. embassy to jerusalem. adp right in line, 190 k

i'm david faber.york stock exchange our colleague carl has the day

i'm david faber along with mike santoli and wilfred frost. both jim and carl off today.f hour from now here on this thursday only two days to go before, of course, we begin a new year of trading. you can see, we are looking for a higher open this morning european markets, what were

. >>> sources telling cnbc's -- cnbc's david faber, not cnbc's bob iger that bob ieger er igey to remaine company if it buys parts of 21st century fox. that is true, i can also say that's true as well. sources saying that fox continues to view disney's bid as superior to others but companies like comcast and verizon are still in the hunt for some of fox's assets in particular, the reason iger would stay is in part because of murdoch believe if the transaction were to go through he wants him around as part of the transition given that you want the guy who made the deal to be invested in the deal to still be there as we've said, cue the conspiracy theories about the political machinations of whether iger would then no longer be able to run for president of the united states if you thought that speculation was real to begin with. >> i don't think of rupert and iger being particularly aligned. >> no, that's why i'm saying cue the conspiracy theorists. >> lackland and james are more align aligned. >> but, remember the channels that were going to disney are not -- >> that doesn't include fox n

i'm carl quintanilla with jim cramer and david faber futures steady, that breaks the record from 95,n report today.

i'm carl quintanilla with jim cramer and david faber if that weren't enough, the biggest m and a deal

i'm carl quintanilla with jim cramer and david faber at the new york stock exchange.s first three-day losing streak in about three months plentyecon data as we watch companies respond to the tax bill europe's roughly flat. final q3 gdp revised down just a touch, still solid at 32