because i just like dom chu >> what's not to like?s the hardest working guy i'm melissa lee. see you back at 5:00 for the continuation of crypto week. meantime "mad money" with jim cramer starts right now. "mad money" with james cramer starts right now. >>> my mission is simple, to make you money i'm here to level the playing field for all investors. there is always a bull market swhir and i promise to help you find it >>> hey, i'm cramer. welcome to "mad money. other people want to make friends, i'm just trying to make you money. my job is to not just entertain, but educate and teach you. so call me or tweet me @jimcramer. listen to me, there is no such thing as the stock market.

dom chu in the newsroom. hardest working man on the show.this morning on worldwide exchange. >>> carter is taking a deeper dive in the dogs in the dow theory looking a the a name that could break out next year. carter head to the flat board. >> try to pick one so obviously, you can only pick from those names that have the highest yield, typically meaning been bad performers. let's look at the -- the investment results of this premise. this is the dogs of the dow. 1989 to present. and this is kind of quite remarkable, actually $10,000 invested in the dow. you've got yourself a nine bagger and you've got this -- if you simply went after that stock or the one you pick with a very high dividend yield. half of all returns, because of dividend yeeds, look at s&p and dow. the heart and soul of this income is as much important as appreciation anyway -- what i'm going to do is pick chevron, but here is that chart to show you. again, this is an epic kind of thing. you've got the dow versus dogs of the duh over the last several decades. not even close

breaking it down is a man who knows a dog or two, cnbc's dom chu. >> reporter: melissa, i have two dogsmy own, a habanese, lucy, 15 pounds, and a tibetan terrier named bogey. some investors are taking stock of who the dogs of the dow will be in 2018 the dogs of the dow is a screen slash investment model you take the ten highest yielding stocks in the dow, buy 'em, and hold 'em for a year, rinse and repeat the thinking is that the highest yielders are up in stocks that have gotten beaten up and might be due for a bit of a bounce while collecting a better than average dividend as things stand right now, here is how the new dogs will look for the new year in the number ten spot, it's general electric, which is yielding 2.75% after its dividend cut number nine is procter & gamble, close to around 3% cisco systems right around that 3%, maybe a hair above it. coca-cola, 3.2%. merck at 3.4%. chevron at 3.5%. exxonmobil a little north of that, 3.7% pfizer comes in at 3.8%. ibm, big blue itself, 3.9% and then the top of the heap in terms of dividend yield, verizon at 4.4%. so there you have it,

incredible dom chu, hey, dom >> reporter: melissa, this boeing is a beast, undisputed. i can't really say it's single handedly powered the dow but it's done more than its share of heavy lifting. around one of every five dow points in 2017 that translates into a market value gain of around $75 billion. that translated into a market value gain of around $75 billion. what's more impressive about boeing's 83% run this year is how much bigger that return is than any other stock in the dow. second place in terms of year to date performance is caterpillar, up just 55%. and apple is in third place with a measly 47% return. the worst performing stock on the dow, no surprise, general electric, ge down 44%. that performance gap of around 127% between top and bottom dow stock is the biggest since 2012 when bank of america was up 109% and hewlett-packard was down 45%. so can that runcontinue into next year? according to data from facts we're pretty much spot on the analysts' spot target price right now. not sure, melissa, if they're up in targets or calling the shares now for fairly

good amount of ground to cover before retail can recover some of its past glory >> thanks so much, dom chuour newsroom can you trust this retail bounce, gentlemen? >> first of all, from a tax perfe perspective, there's a lot in there for retailers. if you look at the analysts on wall street, they've started to impute what this means for 2018 or '19 the other dynamic is a sentiment boost for certain sectors. a lot of these guys were painted with a brush that they were going to be put out of business by amazon. i think that was wrong some of these guys will change their game, no question. some of the legacy guys are performing, we're seeing that with walmart >> i think it's seasonal i know some of you guys picked off some of these department stores off the lows. i think when the calendar turns we'll be right back to that narrative where amazon -- we're over-stored when it comes to department stores. there may be some guys who get a second breath like whole foods with the amazon deal, you may see some deals like that >> i think that the retailers out there that are going to have success have

the bottom line is be careful. >> absolutely, thank you, dom chu, back in the newsroom. >>> yesterdaythe ceo of long fin, even he admitted things had gotten a little out of hand. >> this market cap is not justified. i valued my pricing, i valued my pricing at $5. five times revenue >> we reached out also to riot blockchain but the company turned down our invitation to appear on the show after they seemed ready to accept an invitation yesterday a spokesperson said, quote, no one at the company has been able to get in touch with the ceo you may be asking why we spend so much time on cryptocurrencies many traders at home have been in these names, they're among the most popular at the moment but also among the most dangerous ones this is a classic case of buyer beware, it doesn't matter what industry it is, know what you're buying >> and in many craases a company that's transformed itself overnight is an obvious case of what to avoid. some of these were microcap stocks that suddenly went into the stratosphere you want to play crypto in a lot of different ways, whether you went to invest i

dom chu is joining us now. >> michelle, i am going tell you who will have the most benefits.t the five years medium tax breaks, we'll count them down. energy, the biggest taxpayers out there, 35% tax rates nine, telecom and industrial have 32 and some of them are capitol and intensive industries having the highest tax rates and number five, 30% and financials and number two is healthcare of 26 that leaves the big number one is technology companies probably paying the least in taxes at least according to the most effective tax rate as for some of the companies, that's the most impacted goldman sachs has the highes rates out there, maybe that could be a beneficiary of tax cuts conocophillips, energy side, 49%. goodyear tire and rubber, 46%. j.b. hunt, 38% zions bank, 35%. companies goldman sachs tracks in their high-tax basket. >> thank withdryou very much. nike getting air, up 15% over the last month the stock is at a one-year high. straight ahead, we'll talk to a trader who calls it a screaming sell is he right? we'll debate that straight ahead on "power lunch. ...we've helpe

. >> hand over to dom chu for an update on a story we reported earlier. >> this is about chipotle. we told you about the reports of a possible food-borne illness report out of los angeles for chipotle shares are down about 2% off their session lows chipotle has issued a statement about the incident they say that they take any report of illness very seriously. they are aware of a few reports about this particular chipotle in the los angeles area. they have not been able to substantiate the claims with customers directly themselves. they do, however, have a matter of policy to investigate these things fully they are aware that some of the employees at that chipotle are ill. those employees are being held out of work as a precaution, but they also note that california is in the midst of a widespread influenza issue. the cdc website confirms, that so all of these are the statements that chipotle is there giving us with regard to those reports of food-borne illness in los angeles back over to. >> dom chu with the latest we'll follow that story as well in the hours ahead more breaking ne

. >> dominic chu dom. >> european stocks pulling back for a second consecutive session as u.s. of representatives gets ready to vote again on gop tax bill back on monday optimism about that tax bill sparked best one-day performance for europe's broader markets in five months eu's chief brexit negotiator now sediuk's transition period after leaving the block should end no later than new year's eve 2020 the brexit schedule is going to take effect march of 2019. uk prime minister theresa may had asked for a two-year transition period after that kind of kicks in meantime imf is lowering 2017 growth forecast for economy by a tick to 1.6%, like the impact of brexit and weaker pound since last year's referendum on departing european union we're going to finish with parliamentary election in catalonia. you may recall the prime minister called for new elections ousting catalan president and government after they declared independence following the referendum he deemed to be illegal pro separatist and union parties too close to call. still catalonia election a big focus for some investor

to a man who is always the life of the party, dom chu in the newsroom hey,dom. >> you might be partying if you are lucky enough to do a little market timing, melissa so we wanted to take a look for who could fit the bed. the stocks may have been beaten up a bit we did a little screening. we looked at russell 1000 stocks, after hitting a 52-week low sometime after june 30th this year, so our search got down to around 40 stocks the list is populated by a lot of energy, retail and financial-related names that have managed to put together real positive momentum as of late among the more well-known names, chevron, which after hitting a 52-week low, has rallied around 17% since then then there's nike, which just did it, hit a 52-week low a couple months back on october 12th since then it's up around 22%. who is in the mood to do bulk christmas shopping costco hit its own low for the years on the 21st, then rallied since then the dip buying definitely worked here, but will it last into 2018 time will tell back over to you. >>> are these stocks trades or traps? chevron. pete >> i have to go wit

a handful of stocks have been skyrocketing by taking advantage of the cryptocraze dom chu is breakingdown. >> don't believe the hype or believe the hype, those are the questions tied to the craze. some of these mo moves you downright crazy. one example is longfin it's a financial technology on fin-tech company that just went public last week, $5 a share it was worth an estimated $280 million. in comes news of an acquisition when it buys a microlender, which says it's a blockchain company that traffics in cryptocurrencies, and very small company all of a sudden sourced, to a high of $142 plus today before coming well off the highs, high about crcw, which has been traded publicly as a mike roar-cap. it was $3 and change, then traded around a couple,000 shares or less a dan on december 11th it got as high as $642 on 5,600 shares of volume, downsh and then back over 500 today on very light volume and then there's another microcap company that's become a smallish name, riot, ticker rirot. it made a small investment in a cryptocurrency trading operation, and that helped rocket its shock tie

lets go to dom chu at the commodity desk >> we are poised to close down by nearly 2% here.rcent and a half or so of the u.s. west texas intermediate it is a shorter term for oil prices over the past few weeks, many specta spectators have been buying oil. u.s. oil production is near record territory and we continue to see a trend higher in the number of active u.s. oil rigs michelle, a pull back today and we don't know if a signal beares signs to come. >>> our next is related to oil we know that bitcoin is extremely popular in venezuela venezuela is going to have its own crypto currency. in case you wanted to know how to say that in spanish they're going to call it the "petro." they are the oil producing country. they have decided they're also going to produce their own crypto currency. >> i wonder if you see countries like venezuela doing this, does it have more regulators here in the united states where they start to look at these, see, they are enabling transactions that would otherwise we would have prohibited. >> i wonder if we have the power capacity to do the data cen

dom chu back in the newsroom bitcoin has acquired some skeptics jamie david calling it a fraud earlierar, and tolding wilfred frost, i remain skeptical of it, but i'm open minded to uses of cryptocurrencies if properly controlled and regulated joining us is a chain analysis ceo, a company that makes software to fit bitcoin fraud and illegal activity >> thank you >> that is one of the knocks on bitcoin that skeptics have it's used for illegal purposes so what does your company do and how do you track this down >> so, essentially, the bitcoin block chain or any block chain, one of the features is you have huge transparencies. you can see all the transactions moving around. what we have, the best look at the block chain. we know who is who on the block chain. every time you see a cryptic transaction, we know who's behind it, and that's the case for the vast majority of the transactions it means that if you're a regulated exchange and you receive money as a bitcoin payment, you can use our software and figure out where did it originate from. let's say someone approached you and wanted to s

dom chu to my left lives on your state.different issue here is the thing governor, for years and i am not picking on you or your state. new jersey and new york, they always say high taxes are not driving people out high taxes are the end of your state, seems like you guys want to have your tax cake and eat t it, too. >> i think that's a little unfair i don't think anyone said the population of new york city have done anything but go up. the tax policies reflect tradition. they reflect how people want to spend the money within their states but everyone of the states you are talking about is giving more to the federal government budget. how about an equity argument along those lines. why is it unfair to penalize people from making a decision, for example, that they want to spend more money on their highway systems or they have a subway system or extensive train systems that subsidize in the case of new jersey you don't have those systems and don't pay for those and all of a sudden your economy within those areas and the contr

dom chu back at the cnbc newsroom to break it all down. >> brian, it's got to feel good if you've beeng this market this year, but just among the major u.s. indices it's been the dow that's a standout, so much so a handle of even creeping to the $300 mart. the fab foyer. four boeing since the dow is a pretty-weighted index, they pack a good punch just one of those stocks, unitedhealth care is in the top ten, worth around $216 billion that's dwarfed by the $879 billion market cap of apple, the 375 of johns everyone & johnson. we all know the debate about what's bert -- pride weighting like the dow, or market cap weighting like the s&p so far this year it's been the dow that outperformed the s&p. with so many stocks reaching triple, even some quadruple share prices, many are looking towards passive investing. fewer investors buy stocks that was when visa split 4 for 1. before that, brightic, it was coca-cola. now, there were days back in the late '70s when ibm was a $300-some stock. are we seeing a return to those types of times we'll see. >> what do you think of this trend? is it saying

i'm seema mody alongside dom chu. time for our must reads. my pick is in the "wall street journal.tax reform has europe worried. being the big dog in europe is no defense when the world's largest and most dynamic economy is slashing its tax rates. a 21% federal rate in the u.s. will be impossible to ignore given the incentives it creates for european companies to invest in america instead of at home. speaking of playbooks for 2018, keep an eye on how foreign companies respond to this recent tax bill here in the united states do does it make america a more appealing place for international players. >> michelle caruso-cabrera was talking about international relations with the rest of the world. this is from the "new york post," maybe a more conservative pro certain group tilted newspaper. but the front page here from the "new york post" is titled stop, go the weasels you have a picture of nikki haley in a sea of weasels, again, weasels in the united nations. this is the idea that the u.s. will have to think about what its relationship is diplomatically, economically or otherwise with

. >>> dom chu has the european close. dom >> michelle, a roller coaster ride for european stocks today mixed session as you can see here after the broader markets posted their best weekly performance in about three months the ftse continuing that upward momentum, best week since october. today's gains helped in part by the mining stocks getting a lift on news of higher copper prices and upbeat trade report out of china, as well pretty strong moves. weaker pound also helping the ftse stocks, which starts on thursday in brussels as for the brexit side of things, uk prime minister theresa may says britain's promise to pay a financial settlement worth $35 to $39 billion pounds to the eu is conditional upon agreeing to a future partnership with the eu bloc a number of european financials on the rise today, hsbc. the u.s. department of justice has dismissed deferred criminal charges against the bank related to money laundering and sanctions breaches about five years ago. ups and barclays also among the financials as you can see

investors are flocking to some of wall street's most hated stocks dom chu has more from the newsroom,, dom >> reporter: melissa, is it so bad that it's actually good? that might be part of the story for why we're seeing such impressive moves for some stocks over recent weeks. it has to do with all that negative sentiment and yes, short interest there are a host of stocks out there where traders will actually profit from a drop in prices among those stocks that have seen the bigger one-month moves coupled with high short interest, under armour has 30% of its share float sold short. it's rallied around 12% per month. avis budget also around 30% short interest in its shares it's rallied by 16% in that same time frame upper school burger joint shake shack, 48% short interest. that stock has rallied 24% in a month. mid-scale retailer jcpenney with 52% short interest, and a one-month rally of nearly 40%. now, a bigger question is how long a stock run-up can last if it isn't fundamentally driven by improvements in the business so melissa, traders and investors will be looking for those signs

essentially flat at 19.330 let's get more on the cme data dom chu joins us. >> things went off fairly. we saw trading hauls for the cboe when they launched last week nothing so crazy this time around what we did see here is trading volumes that are about commensurate what we saw with the overall cboe launch. we talked about it throughout the course of the week, the cme bitcoin futures are a larger contract there are five bitcoins with the larger cme as for the one to one with the cboe. as of five minutes ago when i walked on set, 656 contracts have traded on the cme multiply by five, you run that a little over 3,000 odd mark if you look at the dollar value of it, it's about the same size as well. obviously higher in price but still talking around the 60 to $65 million in terms of total volume dollar mark which is about what we saw at this same time with the cboe side of things what this shows you is that the people who are trafficking in bitcoin futures are doing so by dipping toes in water rather than kind of going full bore you'll expect to see that for a while until people get thei

>>> welcome back breaking news on the banks this hour dom chu, what's happening?g regulators including the federal reserve and fdic have come out with their status report on u.s. bank living wills. that i have given at least a passing grade to eight of those banks. they have no problem with plans submitted by bank of new york m mellon, citigroup, jpmorgan chase or state street. however, they're referring bank of america, goldman sachs, morgan stanley and wells fargo back to do some fixing they have found some -- they have some shortcomings day are not material deficiencies which would have required a refiling and replanning of their living will. however, they are going to go back and ask those four banks to fix at least some of the problems that they've found. again, satisfactory or passing grades for all eight of those banks but the four, specifically, bank of america, goldman sachs, morgan stanley, wells fargo, the regulators want to see some of those weaknesses they found in mare plans readdressed. we have more details the stocks are not moving hugely on this.

back over to you. >> dom, we know you'll be on top of that for us dominic chu.t's like with the airports with holiday travel in full swing. eric clemi joins us from newark. hi, eric. >> reporter: the lines are better than they were, 20 minutes ago they were bulging closer to me the good news is the weather okay according to data from flight aware you're not seeing a lot of weather-related problems, delays, cancellations, and what you're seeing is a lot of traffic volume it's 26% more flyers this weekend than a normal weekend a couple weeks ago and 3% more flyers than last year because airlines are squeezing more people in. already at newark airport 30-minute delays getting out and that's getting worse that's happening here early this morning, and that's not even weather-related. that's traffic-related so you're seeing much more delays good luck on sunday and monday when a big snow storm is going to come through the rest of the country, so people are getting through right now, the calm before the storm it's going to be a lot worse on sunday and monday, christmas

i want to bring in my dear friend, the domino, cnbc's dom chu. it's the end of the year.e focused on locking in profits. talk about the fluctuations on friday with the report, the correction and now the senate passing their vote and what that's doing to markets. >> well, stephanie, this is the interesting part. we've been covering this all year. and you're totally aware of this. this has been the calmest stock market we've seen in decades. nothing seemed to shake them. not even potential nuclear missile or incontinental missiles out of north korea. on friday, we saw massive moves lower because of those abc, knew erroneous abc news headlines with regard to former national security adviser michael flynn. at one point we're down 350, like you said. i was on with you and ali velshi at the time the dow was on its lowest levels on friday only to see headlines with regard to tax reform move everything higher again. this is a market that we are not accustomed to seeing because we haven't really seen anything like the kinds of roller coaster rides we've seen over the last couple o

. >>> back over to dom chu at hq with the european close. >> tax reform optimistic views fuelling theally here in the u.s. are also being felt across the atlantic up sharply this week especially the german dax, which has rebounded from its december lows it erased all of its november losses sharp move there higher. gainers in germany, deutsche bank, commerce bank, volkswagon, bmw, siemens, m & a also in the spotlight today. thales acquiring gemalto for $5.6 billion in cash this comes just days after gemalto rejected a smaller bid vonovia agreeing to acquire buwog in a debt-financed all-cash deal. and in the uk, prime minister theresa may briefed parliament, insisting her government is well on its way to delivering what she calls a, quote, smooth and orderly brexit this after eu leaders gave a green light to moving brexit talks to a second phase, but the prime minister also called on uk lawmakers to stop the debate on leaving the eu from ending in threats or intimidation. the pound is rising against the dollar today on that particular trade, 1.33. back over to you >> all right, good run

. >> dom chu talking about the sectors that pay the heist amount of taxes will get the biggest boost. where was tax on the list, the last on the list, the caboose. >> if you can't. increase r & d you'll have to make a decision here am i going to hit my earnings to fund my r & d, the development of new product, or is my growth going to slow down that's a real debate that we'll hear about going forward. >> let's bring in another voice now to the conversation. the chief market strategist tony dwyer back with us today from new york tony, what are your thoughts now? >> what's happening, judge my thoughts are it's -- you know, you have a possibility of i call it the "sanford & son" correction which could happen. if it's 2%, it's going to feel outsized but ultimately the fundamental backdrop that we've talked about since raising our target last may, they are all still there, and i think the most interesting thing is when we talk about interest rates and the yield curve which i know you get sick of me talking about, judge, but ultimately it's a buy signal when it gets this flat so you'll have

like dom chu >> what's not to like? he's the hardest working guy i'm melissa lee. see you back at 5:00 for the continuation of crypto week. meantime "mad money" with jim cramer starts right now. "mad money" with james cramer starts right now. >>> my mission is simple, to make you money i'm here to level the playing field for all investors. there is always a bull market swhir and i promise to help you find it >>> hey, i'm cramer. welcome to "mad money. other people want to make friends, i'm just trying to make you money. my job is to not just entertain, but educate and teach you. so call me or tweet me @jimcramer. listen to me, there is no such thing as the stock market. not the way most people talk about it instead, you've got a market of stocks that's an important distinction, particularly in carmerica. stocks are like snowflakes, no two are the same sure everybody loves index funds as a low-cost way to get ebbs posure to the whole asset class. i'm one of them. i please guilty. including today where the dow and s&p both notched new all-time highs former fall of 11

. >> ylan mui back with us dom chu with a look at the sectors that pay the most and least taxes from top to bottom. >> potential tax reform, guys, may not benefit all sectors equally. take a look at this. the folks over at goldman sachs took a look at every sector in the s&p with the exception of real estate for reit tax treatment purposes and looked at 2016 and looked at the effective tax rate check this out because we're going to rank them 10 to 1 the highest effective tax rates over the last five years, median, energy pays the most, 35%. telecom, 33% industrials, 32% 7 is utilities at 31 and consumer discretionary at 31%. next batch number five consumer staples 30%, financials 28, number three materials at 27 and number two healthcare at 26 and that means number one is the big one, the one everybody cares about. it's technology. if you look at technology, they paid the least in terms of effective corporate taxes, just a little under a quarter of their total earnings, profits overall, so as we talk about tax reform, these are some of the names that could benefit more or less on a r

. >> bitcoin futures launched last night on the cme, that is the world's largest futures exchange dom chu joins us with more on all of this. dom, do you own any bitcoin? >> i do own -- i do own some bitcoin. it was acquired over the course of the years just kind of understanding what the crypto currency market is, but i guess in essence what we're trying to figure out is whether or not this is going to be a little bit more mainstream, whether people are going to use it like a currency, whether or not people are going to start traveling and businesses use it. we're seeing the institutions given the fact that the cme group, the world's largest cme group has launched bitcoin futures. a couple of differences that we had launched last week and the cme. the ones that launched last night are much larger in size. each contract that trades on the cme is worth 5 bitcoins as to the cboe which is a one-to-one margin if you go on to cnbc.com and check on the tool bar, you can search for bitcoin futures it will show you both the cboe and the cme mark right now 657 futures have traded on the cme. a litt

for the next five years and that's the reason why the stocks are down lower >> thanks very much, dom chu they were upgraded to a buy. it's our call of the day doc, i want to know what you think about this this is bottom in? >> well, it bottomed last say at 10.55 just a couple of weeks ago. >> now can we be sure that that was the bottom >> i hope so, but, i mean, i haven't seen the turn other than the stock has bounced off. >> from 10 to 15, that's a turn. >> exactly. >> but i haven't seen the numbers from kevin and the folks at under armour that reflect that kind of growth. in other words, are they already looking ahead saying it's way too cheap at 10 and now at 15, is it way too cheap, are they earning their way into a bigger multiple again or holding on to the multiple that they have got because it's going to keep shrinking, judge, i believe. >> they say you'll get margin improvement. you're going to get a business improvement entering 2019. brand exany not yet permanently damaged. cramer called it a powerful call i love that call, he said. >> it is a powerful call and it's a risky one

annual performance in nearly four decades breaking down the incredible run is the always incredible dom u chu. >> boeing is a beast, undisputed you can't say it single-handedly powered the dow, but it's done more than its fair share of the heavy lifting. around the 4,500 points gained this year, 885 of them thereabouts is just boeing, 1 of every 5 dow points in 2017 that translates into a market value gain of around $75 billion. what's more impress benefit boeing's 83% run this year is how much bigger that return is than any other stock in the dow. second place in terms of year to date performance is caterpillar, up 55% apple in third place with a measly 47% return. the worst-performing stock in the dow no surprise, general electric ge down 44%. that performance gap of round 127% between top and bottom dow stock is the biggest since 2012, when bank of america was up 109%, and hewlett-packard was down 45% can that run continue into next year according to data from faxit we are spot-on the average analyst target price right now not sure if they start up in targets or are calling the shares for

today is the first full day that bitcoin futures trade on the cboe, and dom chu, bravely, as acceptedhis assignment this is not -- i mean, are you ready to move into the future? is this something -- do you have a handle on this >> i don't -- so, i would admit this right now i, like many other americans and many other citizens globally, do not have a true handle on this, and that just speaks to the idea that this is a very -- i wouldn't say an infant market, because that implies things are just starting, but it is one where people don't have a lot of familiarity, and that's going to be a big deal for why. the futures trading idea has maybe lent a little bit of legitimacy to this idea that bitcoin could be an asset class, but there's still a healthy amount of skepticism out there, and this is also a market, by the way, as joe mentioned, that is at least for right now still trying to get its sea legs the two trading halts that we saw early on for bitcoin trading -- if you take a look at some of the prices, we did see some high swings up there. $17,500 was the last trade we saw for bitcoi

dom chu is here with more. >> we only have one day of trading in the books but let's look at bitcoinntly how they stack up to more stable futures markets. for bitcoin future, as traded around 3600 contracts today, one futures contract equals one bitcoin. that's around $64.5 million in terms of total volume. we know it's only one day and, yes, we know -- let's jump ahead to the nonapples to apples comparison but we put it in size and scope against other relative trades in futures markets. let's go to cold on average it trades about 500,000 contracts a day. each contract is 100 ounces of gold which means that on a daily basis we trade around $62.5 billion in gold for comex. another one, big, big one, wti crude, trading around 2.5 million contracts a day. each of those contracts, a huge amount of oil totalling about $145 billion in total size and, again, we know it's not apples to apples but it spoo he cans to the bitcoin future still has a long way to go from being close to the other established futures contracts. >> dom, thank you for that stick around for this conversation coming up

dom chu takes on the journey of the land of misfit stocks.he sectors overall that set record highs or at least multi year high of the course of this given year we have a handful of them. we'll focus on three in particular of this land of misfit stocks that we have in the industrial sector, there are a lot of names out there that have under performed the overall sector these are some of the worst. alaska airlines, they have done 16% and general electric have lost half of its value ls ovs oe course a misfit stock campbell on the consumer staple side staples have made a new high sometimes this year. of course, there is the consumer stretch on the retail front because it is the season for that retail trade. and under armour shares are among the worst of the s&p 500 as we take a look at these hitting record high levels, the question for a lot of traders out there is whether or not there is a bounce off of these low levels or whether or not those trends to the downside stay in place. back over to you guys. >> dom, interesting stuff there. president

tech stocks over the past few sessions the sector is seeing a bit of a rebound in today's session dom chutepping in with a look at what's behind the move. dom? >> reporter: so, guys, it's interesting yu injulia brings u companies. amazon, not exactly a pure play technology stock and alphabet, parent company of google, those have been two stocks that have been hit harder over the course of the last week as markets have come down. now, we did have a pretty solid rally in technology to start the day. we were at one point about a percent higher we've lost some steam here intraday for that technology sector up about a quarter of a percent right now. we are seeing that bounce. at leastle at least lessen up a little bit. the tech sector is still the only sector in the green today if we look at some of the at least outperformers we've seen so far, notice the chip stocks have been some of the big outperformers this year. they have been some of the biggest pullbacks we've seen during the course of this, at least last run over the last week semiconductor etf down about 5% just over the past month th

. >> thank you, dom chu.ongfin plunge after comments made by the chairman and ceo last night on "fast money. here's a story behind longfin. two days after going public last week, longfin bought a company that offers a block chain solution to importers and exporters, sent his company stock surging over 1,000% in just a couple of days, even though zidu has yet to make money. here's what longfin's ceo told me about the boost to his company. >> i'm a profitable and good company. their people are dragging this, not justified. if you look at my revenues, i value my pricing look at it i value my pricing at $5 $300 million >> in a volatile 20 hours, shares down as much as a third, 33% last night on the back of the interview, now down about 5% containing the losses, but this morning we're hearing the s.e.c. is halting shares of crcw, the crypto company there is this notion you attach block chain to the company's name and, bam. >> crcw may be a fraud, though, fair to say. but still up 1,000%, melissa, for the week >> f

dom chu has been monitoring that and joins us with more >> kayla, we have trading volumes right now asnts ago of 830 contracts for the cme contract futures the big difference between the cme futures and the ones on the cboe is it's with five bitcoins per every one. you can see the trading volumes are not that far different not that big a difference between the cboe's first day of trading. you look at the prices, bitcoin futures on the cmoe, 19,095. so that spread has actually been narrowing. it was a few hundred dollars wide at one point today. we're seeing the markets get them both into line. the important part is how they fare on all those fragments exchanges. check those out here as well the price of bitcoin futures are still pretty different 18,850 for the spot market for bitcoin. 19,050 in terms of the bitcoin futures market we'll see if that gets more into line there's a premium that people expect in the futures market for the ease and convenience of trading in futures overall, institutions like hedge funds are starting to look at getting into bitcoin some of the concerns they do

think that they do need to share the wealth i was listening to people this morning talk about it, and dom chu was on and he was saying to seema mody, it seems cynical i don't know, $1,000 in your pocket is not cynical. it's good. it's a good thing. >> do you think there's a coordinated effort, that there was some sort of conversation between some of these companies or some sort of coordinating body that said, this is something that might be a good thing for you to consider doing? i don't know just curious that -- i don't think anybody was anticipating it, until we saw the announcement from at&t, and then it was so quickly followed by wells and fifth third, our parent company but, obviously, there's so many others that could be doing the same thing >> if it was coordinated, it should have been more than six companies. if fifth third and called wells, wave got to get -- >> why is everybody picking a thousand bucks why is that the number could someone have gone with $1199. >> 13, 14, 15, sold to the man -- >> why $1,000. >> i don't know. it did seem. >> it's a round number >> we went through a f

dom chu has a look at the stocks that stand to benefit. >> if you pay a lot in taxes and tax rate goesrofitability goes up. which stocks could benefit goldman sachs and their team of analysts put together, they have looked at a lot of these stocks. they got a basket of 49 of them they call it their high tax basket among those names that the they look out in the basket, check out some of the familiar ones to some of our audience here. look at a name perhaps like a j.b. hunt, what else is happening with some of these other ones, conocophillips, goodyear tire. cono conocophilli conocophillips, 49% median rate over the last ten years. goodyear, 46%. j.b. hunt 38%. zions bank, 35%. those are among the names of the 49 in the goldman high tax basket one other place to watch if you're looking for tax reform kind of jockeying in terms of the overall market pricing and position are the small cap stocks in the united states. look at the small caps over the year to date period, they underperformed the overall s&p 500, 13% versus president the 1. as we watch the tax depl-bate py out, could be the p

dom chu has more on how that's going. >> following up on your berkshire discussion, there's a lot ofpticism about what bitcoin has in store in the future not a lot of september schism abo skepticism of warren buffet at n the empire he built. let's take a look at the futures market so far today we have seen a little bit of a pickup in terms of volumes for supersized cme bitcoin futures. unlike the cboe, one bitcoin to one future ratio so as we talk about the bitcoin futures market, as you can see here, we're down maybe not so much of a difference in terms of the overall price difference we have seen a couple hundred dollars between the cboe contracts and cme contracts. about 1,000 of those contracts, a little over 1,000, $1,030 the last time i checked. roughly close to $100 million in terms of total dollar volume very shawl comparmall compared r developed future markets the bitcoin futures versus the spot price a bit of a difference in terms of the premium being charged for futures. remember, you don't have to own bitcoin, hold a digital wallet, anything like that to settle these trad

. >>> we have a news alert on hess dom chu, what's going on >> hess shares up in the after-hours sessione heels of dow jones/"wall street journal" headlines that elliot t management, a new proxy fight with hess corporation. elliott wants to remove john hess as the ceo of consider a sale of part of all of the assets at hess they also want to look for things like a dividend cut but more buyback we should say this, john hess has according to the chairman over at hess, james quigley, the full support of the board of directors, unambiguous and unanimous support of the board this isn't the first time elliott has tangled with hess management back in 2013, they had another battle right now elliott owns 6.7%, bill, of those hess shares back over to you. >> and they just made 6% on their money with that news thanks, dom. >>> we'll take a break, come back, debate whether disney's deal for 21st century fox assets will help it better take on netflix in the streaming wars. tethis win an uncertain world?k predictable income pgim sees alpha in real assets. like agriculture to feed the world. and energy

first trading day of the new month, says and dom chu joins us now. this guy is amazing.told us about last time >> one eye there and one eye on the markets. >> i can't i'm just saying your wack-a-mole strategy is what traders are thinking right now they're trying to get their hands and figure out what is going on at any given time if you take a look at what's happened for the month, because we are starting that that time of year when we get to santa claus, but for the month of november, the thanksgiving month, it was a great time for the markets. as you take a look with regard to the overall picture as we head into december, check out some of the other stats as well because if you take a look at the best and worst performing sectors, i mean, it was telecom, the best performing sector overall some of the sectors have had some pretty good runs. all 11 sectors in the s&p were higher on the month. i would point out, guys, that the best performing stocks in it the s&p for the month of november, some of the beleaguered retail type names. footlocker, mattel, some of those were v

you are hunting for companies that potentially stand to gain for the most for wholesale reduction, dom chut capital intensive industries dom. >> andrew, these are the ones that pay the most in tacks already effectively, so if we do get some kind of tax rejs las vegas that lowers corporate taxes, these are the stocks that may benefit more than others if that comes to pass goldman sachs -- over the last five years the median effective tax rate for energy is the worst. industrials 32%, your capital intensive side of things utility is 31 as well. consumer discretionary 30% going down to the next batch of them take a look at these consumer staples, 30%. financials, 28%. materials, 27% health care, 26. as we get lower in taxes, the perceived benefit maybe goes away a little bit, and the one that pays the least in terms of taxes, the technology sector within the s&p 500 among the stocks that could benefit, there is a high tax basket 50 stocks or close to 50 around 49 of them that have high effective tax rates. among those 49 stocks, names like conco phillips on the energy side of things. 49%. ten

carl, back over to you >> all right, dom, thank you very much. dominic chu.'s bring in cramer on the phone. we haven't had a chance to check in with jim regarding this blockbuster deal you read pretty well, heard the thoughts on iger, your thoughts? >> my take is this is a subscriber story and we've had subscriber growth go down, which was espn suddenly you put all the subscriptions together and they can show up numbers. there's no reason necessarily to say having espn live, so i love the deal i think the biggest problem is the questions that david asked, which is that there is such an antitrust problem here, ginn the fact that we know there's an antitrust problem with at&t/time warner, but this deal is great and gets rid of the espn problem. >> how much are you tuned into complications, potential complications, regarding hulu? >> oh, i think those can be worked out, and i know that the people who are involved in this deal are all pretty high end this is not like some rogue deal these guys have dealt with each other and poked with each other, they are frenemi

thank you, dom dominic chu. >> it's day two, of course, after the massive deal under which disney willets from 21st century fox, and the market continues to have a positive response to the deal you can see, of course, the currency in this is disney stock. as it moves up, so does the implied value of the overall deal for 21st century fox. investors also seem enthusiastic about the company's future as an independent entity, meaning what will be left of fox. our parent company competed vigorously, that being comcast, for these assets as well, but was unable to convince management and the board that it would be a better suiter, even though i'm told comcast did offer a value that was higher for the assets in question antitrust certainly figured prominently into the decision that the board management made in terms of why disney was a better fit also, i'm told, the murdoch family felt more strongly about having disney stock as opposed to comcast stock for a variety of reasons comcast did, i'm told by people close to fox, have to, for example, even say that they would not acquire six of the rs

to me >> dow just hit a record high, up 163 let's get the european close, as well, with dominic chu hey, domcarl, not quite as good as what's happening in the u.s. right now. modest moves for european stocks in today's session despite gains in telecom and utilities, retailers among today's biggest decliners, especially when it comes to the fashion side of things check this out, h&m sliding to levels not seen since 2009 the swedish company citing fewer shoppers visiting its stores, saying it plans to close more stores, boost online efforts as it grapples with what the retailer calls a challenging market situation also down sharply, the luxury goods company warning it will remain in a turnaround phase for 2018, adding it cannot confirm targets it had set for the next three years. and in brussels, european union leaders have given formal approval to the opening of the second phase of brexit negotiations, which will focus on a transition period and future trading relationship between britain and the eu the approval, though, is a signal efficient progress has been made in the talks, but the pound

to "squawk alley" now and carl >> contessa, thank you very much let's get to dominic chu and the european close domarl, european stocks rallying to begin the week on optimism surrounding that push for tax reform in the united states this after coming off their third negative week in the past four a big day, though, for the german dax you can see there up by about 1.5% the index is experiencing its best one-day performance since april as it tries to recover november losses. the dax is now up 13% so far year to date european banks are among the biggest gainers, including commerce bank, barclays, and deutsche bank. fiat-chrysler rising in italian trading, renault, bmw, daimler also in the green. moving to the plane side of things, airbus saying it still expects to deliver a record number of aircraft to customers this year. a different story for dialogue semiconductor. the apple supplier tumbling of a it said the iphone maker could be working on its own power management chips dialogue added it saw no impact on its business next year. >>> finally, the pound pulling back from its highs of the session aft

we have cnbc's dominic chu with us. domt last to locusts descending from the heavens and tearing the flesh from our bones. tell me, is it somewhere in the middle or are we all really doomed? >> it's probably at least for right now somewhere in the middle. there are other steps that will be taken at some point possibly to talk about what the future of these regulations are. in essence what it means, joe, is companies that provide broadband internet service are going to have that ability to control the economics. that's going to be the big deal here. what they could do is charge more for some companies to use their en from structure like the pipes, the highway that we all use over the internet or maybe control the speeds like you said. the argument for nut neutrality right now is no one person or group or company or otherwise should be denied any kind of equal access to the internet, the most profound commune cases and commerce tool of our modern era. but there are a lot of points on the other side of the debate. one of the k