i'm dominic chu. >>> feeling richer? maybe you should be. household wealth in the united states has hit a record. according to the federal reserve, a buildup of real estate and stocks helped drive american wealth to more than $90 trillion in the third quarter. and the number is likely even higher now, since the market has rallied over the past month. >>> the outgoing chair of the securities and change commission warns against rolling back wall street reforms. mary jo white says the rules implemented following the financial crisis are indispensable to investors and markets. and in her view it would be a grave mistake to weaken or dismantle them. >>> the house of representatives passed legislation that averts a government shutdown. the measure provides funding for government agencies. it now goes to the senate for passage. a provision in the bill will make it easier for donald trump to win confirmation of general james mattis to be defense secretary. the former marine needs a special exemption that lets him skirt a requirement that ex-military

for "nightly business report," i'm dominic chu. >> you're always on the nice list. >> yes, never naughtydon't know whether i want a stocking stuffer is a share of stock, though. >> no. well -- >> sweeter. >> that does it for us on "nightly business report." i'm sue herera. thanks for joining us. >> and thanks from me, as well. i'm tyler mathisen. have a great evening, everybody. and we will see you back here tomorrow. -"jacques pépin: heart & soul" is brought to you by... for those who cook with heart and soul, we present a kitchen made with passion. introducing the completely reimagined suite of appliances from kitchenaid. you can see more at kitchenaid.com. oxo good grips -- thoughtfully yours. vine connections, proud importer of luca, boutique argentine wines from fourth-generation wine maker laura catena. bertolli -- proudly crafting olive oil since 1865. -viva bertolli! -riedel, the wine glass company. -oceania cruises -- worldwide destinations, fine dining, personalized service. your world. your way.

for "nightly business report," i'm dominic chu. >>> so with the u.s.tock market on the cusp of hitting dow 20,000 and investors focused on the record-setting market, could they miss out on other investment opportunities elsewhere around the world. joining us tonight, david kelley, chief global strategist at jpmorgan funds. and he joins us to talk about, you know, our own market, which has clearly been on a tear. but the dollar has also been on a tear, and there are those who feel that could cap our own earnings capabilities here in the united states. what about overseas? what do you think? >> well, yeah. i think a rising dollar does hurt earnings a bit. but to me, the more important point is, make sure you're invested around the world. this looks like there is going to be the fourth straight year in which the u.s. stock market has beaten other developed countries. and a lot of people have felt why should i invest abroad overall? a lot of positive have been built into the u.s. market. foreign markets are cheaper. foreign markets have in case of europe a

for "nightly business report," i'm dominic chu. >> you're always on the nice list. >> yes, never naughtydon't know whether i want a stocking stuffer is a share of stock, though. >> no. well -- >> sweeter. >> that does it for us on "nightly business report." i'm sue herera. thanks for joining us. >> and thanks from me, as well. i'm tyler mathisen. have a great evening, everybody. and we will see you back here tomorrow. celia gillain had an abortion apparently. when she was fifteen. kate i want to be somebody's mum. robbie i just never knew i'd been a dad. gillian you weren't. robbie i'm not being funny but i'm off home. gillian it's poinsonous. saying something like that. alan don't you dare say anything about celia to me. celia they're going off on a mucky weekend. caroline i'm taking kate to a nice little hotel for the weekend. celia we're baby-sitting the boys. raff have you seen ellie? she's not upstairs. she's not downstairs. her stuff's gone. gillian thanks for coming. john no problem alan i want to tell you something. gillian he'd smashed his head open. with the log splitter. down

i'm dominic chu. get all your business news on cnbc. >>> now your nbc 10 first alert weather. >>> and we're starting off with temperatures, but not in the same fashion we did yesterday morning. yesterday morning was all about was it cold enough for freezing precipitation. today, it's all about how warm they are out there. take a look at your jersey shore neighborhoods. we have 50s on the map to start out with. we're in december. 51 degrees right now at cape may courthouse. 54 for woodbine. 53 in mays landing and atlantic city, at 50 degrees. not a bad start. the thing is these temperatures are going to climb a bit through your morning hours. then they're going to start to drop off. because in the afternoon, a cold front is going to move through. now the cold front is coming west to east so jersey shore neighborhoods see the front last. meaning, these temperatures have the longest time to warm and may make it into the 60s a bit later on. now we're looking at your temperatures for the lehigh valley. the

dominic chu, what's happening? >> change.hat we have now is the current interim ceo now stepping aside and becoming executive chairman of price line to make room for glen fogel. he is a 16-year veteran. an insider becoming ceo. we have another news alert with regard to dow chemical. want tobring yourttention because d chemical which has outstanding preferred stock owned by berkshire hath away has risen enough to trigger a conversion of that preferred stock into common shares according to sources familiar at dow jones the intention is to exercise those conversions immediately over the next week or so. this is a huge deal here for dow chemical. this could free up capital they have in place because of the preferred stock for other uses. they have been paying a preferred dividend before that. price line and dow chemical moving at least not moving the stock on the news but movers and shakers involved. >> dom, thank you. i was going to say shares losing that cash stream. it is barely a drop in the water terms of market cap. going b

welcome to "worldwide exchange" on cnbc, i'm sara eisen here with dominic chu in for wilfred frost today>> good to be here again. >> throwback thursday, of course we throw back with holiday classics. >> mariah carey. >> let's check in on the global markets this morning after stocks took a pause yesterday on the march to 20,000. pulled back a bit. not much. the dow futures now down six. s&p down two. nasdaq futures down seven. >> much like it was yesterday at this time. >> the losses were fractional. >> we were at 40-point trading range for the dow? 50 trading points? >> tight ranges, lower volumes, holiday lull. just when you thought we would get up to the 20,000 number. not that far away. >> we're not that far away. 20,000 >>> good morning. number is kind of like a psychologically important number, maybe for some out there. it's a march to bigger better things down the line. you wonder whether or not people are paying attention to that mark. >> it's a technical level. it is sort of a point that represents confidence in the market. we are on watch again for 20,000. as for the treasury no

bob pisani and dominic chu with us. >> stocks at new highs. the return of the average investor. retail traders return to the market november, average number of trades done at schwab, e-trade, up notably in november over october. that's a good sign. since 2008, the average americans walked away from the stock market. they don't want anything to do with it. april gallup poll indicated 52% of americans invested in stocks now. that's tied for the lowest on record. 65% invested back in 2007. the vast majority of stocks, owned by the top 10% of households, but what would it take to get more investors intereste eed in the stock mark. sentiment may already be changing, hope you were listening to today's cnbc all america economic survey indicating 40% believe now is a good time to invest in stocks. that's better than the 30% before the election. also, will real estate be the top choice? it was the top choice, still is for best investment now. but stocks gained the most ground at the expense of gold, real estate and treasuries. stock trending up. that's encouraging. wouldn't it be somethi

dominic chu still working, breaking things down for us. dom. >> that's right, brian.it's that super saturday eve. that means one of the few efforts remaining to drive holiday sales before the year-end. so right now some parts of the retail world could use a little bit of good news. we took a look at the components of that reetf, the spider while stocks like the men's warehouse and jose bank, children's place, rung in with some stock cheer posting gains over the course of the last month. others have not fared quite as wel well. if you look at nordstrom, we mentioned this yesterday, guy adami did. lost 13% over the last month. other retail apparel retailers, guess, gap stores, urban outfitters, they have all lost about a fifth of their value or more during that same one-month time span. and the worst-performing stock over the last month, sears holdings down 21, 22% at this point. this is supposed to be the most wonderful time of the year for consumer discretionary stocks, but brian, might take some real heavy lifting for retail names to avoid coal. >> like all the refer

dominic chu at headquarters has that for us.>> -- securities fraud later on this afternoon at about noon preet bharara, u.s. attorney in new york, is going to basically go through a press conference talking about these charges. it involves the new york state common retirement fund and one of its fixed income directors and portfolio managers in the allegations being put forth it's alleged that this particular fixed income portfolio manager took bribes in the form of lavish entertainment in order to steer business allegedly to two different broker dealers. the people on the other side of that trade, or the people executing these trades, debra kelly, which worked for broker dealer number one they talked about, and then greg seanhorn, broker dealer number two, in essence what they did is provide entertainment and list through some of the actual things that happened. it said that kang received allegedly in the form of bribes entertainment, travel, lavish meals, prostitutes, nightclub bottle service, narcotics, luxury gifts and other

to dominic chu to take us inside the numbers. dom?> let's set things up again with how things have done in the market ever since the election. just about a month or so ago, if you look at the sector leadership, we'll put it up there again. it's worth noting. the financials, the banks, some of the biggest drivers of the rally so far, energy not far behind. you can see there and we know the oil prices have ticked higher a lot over the past couple weeks here and industrials, consumer staples and utilities lags the most. some of the stocks helping to power things, again so far, record highs. darden restaurants we've been talking about the consumer trade. are people feeling better and spending more money to eat out at restaurants. the banks, jpmorgan chase, big bank side of things, u.s. bank corp the super regional banks that perhaps benefit more with the steepening yield curve as the interest rates take a step in normalizing. fedex on the transportation side. also, military defense contractors like general dynamics on this trump trade as

i'm dominic chu for "nightly business report." >> as for global markets, great britain following brexit14%, first time positive in three years. for the most part europe was higher with the exception of italy which fell 10%. as for asia, japan and hong kong were barely higher and china had worst year since 2011, down 12%. michelle cabrera makes bold predictions about what to expect internationally in the upcoming year. >> reporter: 2016 was the year of political revolt. double down on that for 2017. predictions aren't worth making unless they're bold, so here is number one. eu disintegration. there's going to be a new vote in italy in the spring and the euro skeptic party i think comes to power. that could spell the end to the currency the euro. my second prediction, france, a loss of assumption since donald trump won that means marine le pen will win. she is a euro skeptic but not that radical when it comes to economic policies. far more radical fran waugh ferrone who eval elizing margaret thatcher of the united kingdom. he is going to win. prediction number three, guess who is coming t

i'm sara eisen along with dominic chu in for wilfred frost for the rest of the week.lmost at 20,000. >> 26 points lower. >> a check on global markets this morning, another record high for the dow. s&p closing yesterday just a point away from its own record. dow futures, little changed to down points. s&p and nasdaq positive, just barely. little searching for direction here in the early action. ten-year treasury note yield. bond selloff continues pushing yields higher along with a strong dollar. that's the trump trade since the election. today we're backing off a little. 2.55 is the yield on the ten-year. you mentioned banco monte dei paschi and the fact it's halted for trading. let's see how that's playing out with the european markets. the dax in germany just about flat. the only green speck you can see on the board right. there the cac in france down by 0.25%. the ftse 100 just about flat as well. ftse mib in italy, down by a half percent. spain ibex off by 0.75%. in asia, a more positive picture. the hang seng up by a third of a percent. shanghai composite up by ov

dominic chu at the wall with your dogs of the dow. >>> dogs of the dow? cats of "street signs"?ah. >> china's grand chip investment fund dropped its take over bit for the german chipmaker, aixtron. the 670 million offer was already in doubt amid growing objections from regulators over the number of chinese takeovers of european firms. >>> the ceo of deutsche boerse says the merger with the london stock exchange is far from being done. it is still subject to approval from antitrust regulators. the eu expressed concerns that the merger could curb competition. >>> >>> and fyffes shares are surging after agreeing to a 750 million takeover by sumitomo. share holders of the fruit company will be getting cash as well as dividend. sumitoma secured backing from 27% of share holders so far and expects to close the deal by the first quarter of next year. >> a lot of people were optimistic about the m&a sector in 2016, the slowdown never really materialized. why do you think there is this resilience? >> as you remember back in october, i said it would not ab record year but 2016 would be a

. >> dominic chu at hq. let's get over to rick and and check on the santelli exchange. rick? >> thank you, carl. 20,000 in front of what is or could be an implementation issue of the reasons many are purchasing stocks, pushing us to these levels. retro activity, policy changes, implementations of things like tax policy. we don't know exactly how tough they will be to push through. but we do know one thing. they're going to be less tough than many of the attempts in the previous 12 years or so, considering the landscape of congress. but even more important and more to the point, consider the time this is all happening. we have a fed embarking on the highest in ten years, policy shift. yet here goes the dow testing. big number i reference was 19,917. no secret you probably guessed it, that was yesterday's high. so if we look at this purely from a technical vantage point, especially considering it isn't necessarily most high volume time of the year. maybe even thin in certain markets and many investors may be forced to jump into this parade just because they don't want to be lef

dominic chu stepping in. >> let's start with time inc. those shares are spiking this on the heels of a dow jones story citing sources saying time inc. has hired bankers including morgan stanley and bank of america to possibly field takeover or partnership interests in this magazine publisher. all on the heels that time inc. had been approached by a private equity concern including him to possibly look at taking over time. those shares spiking on that bit of news there. we will keep an eye on what is going on with time and seeing if there is comment from any parties. we want to call your attention to coca-cola. shares aren't moving heavily but a big name to issue. howard buffet, warren buffett's son currently a board member at coca-cola. he will nod stand for reelection. he has chosen to retire from the board and focus more time on his foundation which focuses on advancing sustainable ad practices and conflict mitigation. he has been a member of the coca-cola ecosystem either with bottlers or with coca-cola itself. a couple of big names an

dominic chu looking at how stocks have performed historically between election and inauguration. >> ife look, there has been a lot of comparisens made between whether or not trump's first year in office will be like ronald reagan's first year in office. earlier last hour on "the halftime report," you heard richard fisher say he did see a one point a 20% drop in the dow from the trough levels. he was right. look at this. in reagan's first year, between election day of 1980 and inauguration day of 1981, the dow moved higher. but it did drop to finish the year between inauguration in 1981 and the end of the year by 8%. did drop by 22% at the lows of the year. if you look at since 1981, since reagan, all of the first times are -- the first terms of presidents since 1981, on average, between inauguration day and the end of the year, stocks are up, dow up by 11% so far on average. the worst performance was that reagan first year, 1981. but the best performance barack obama, 2009. you may recall the caveat there is we were at the lows of the financial crisis back in 2009 and ratcheted up shar

breaking down the move is a man who captivates our attention every day, cnbc's dominic chu. >> i do tryy best. that roller coaster of emotion, wild swings between massive profits and massive losses, is back at it again. dry ships has managed to get back to a $6 million valuation after a 25% run in just the last a couple of days. a $4 stock a couple of days ago, it's five bucks today. trading volumes are surging, traders are left wondering why so much traffic in a stock that saw a rise from $4.50 to $100 mid-month only to see shares collapse back to four bucks and change. this interest in a stock with such tiny market value and a recent history of generating outsize losses has been ramping up among retail traders. for better or worse, the stock was active last week during the kickoff to the holiday shopping season as shoppers turned out in force for deals. the stock was one of the most actively traded on its platform, both for the half market day on black friday and the full market day on sunday, dryships was among the most traded, joining bank of america, and amazon, among others, all o

dominic chu.n we come back, comments from adobe on everything from the cloud to m&a after that impressive fourth quarter. a stock that jon knows better than anybody. in the meantime, rick santelli, what are you watching? >> wow. you know, listening to dominic talk about china and that context, looking at the moves in our interest rates and how they've affected china, i guess what we have to talk about today are these loud china moves a yellin issue? that's what we'll talk about after the break. world ugly and messy. they are the natural born enemy of the way things are. yes, ideas are scary, and messy and fragile. but under the proper care, they become something beautiful. >>> if you're just joining us this morning, the market has come off of the highs as we are on our regular dow 20k watch earlier today on some reports out of reuters a u.s. defense official saying a chinese navy warship has seized an american underwater drone that was being deployed by an american oceanographic vessel in internat

dominic chu breaks down what to expect in sports. >> 2016 was a banner year for sports.rld series, south america got its first ever olympics, and that's just the tip of the iceberg. so this year will be tough to beat, but here are three predictions for sports in 2017. brady makes it five. super bowl rings, that is. it's been almost two years since the whole deflategate controversy that sidelined him for four games to start the 2016 season. it ultimately doesn't matter. brady gets that super bowl ring for his thumb and takes another step in his captain pob the winningest quarterback in history. >>> spectator trump. we all know how much donald trump loves the spotlight and when he becomes president he'll put his secret service detail to the test by wanting to watch more live sporting events than any other president in u.s. history. so who's taking bets on whose luxury box he shows up in the most? >>> tight ears back and no matter what you think of him, most people agree when tiger is around the game and in contention, interest shoots a lot higher. so after a slew of surger

. >>> let's send it over to dominic chu for a quick market flash. >> shares of skechers on a tear thisorning on the heels of a filing that show ceo robert green burg bought half a million shares of his stock earlier this week. it was upgraded by buckingham. the shares have taken a beating since the highs back in august of last year. it was a $54 stock. they're still 15% lower year to date so far. the average analyst target prices are just about in line with what share prices are right now. we'll see if adjustments are made in the coming weeks. >>> back at hours, cloud storage company boxer reporting third-quarter earnings after the bell yesterday. the company's customer base grows and showing a rise in revenues. with growing competition and donald trump's win as the president-elect, how will the landscape change for companies in silicon valley? to talk about all of that, we are joined by aaron levie, the ceo of box. great to see you. >> good to see you. >> let's start with earnings because ibm in particular was responsible for eight of your six figure deals. i'd ask if you sent them a

liberty stands with you™ liberty mutual insurance >>> let's bring in dominic chu.uldn't break through. any indication, what's holding it back? >> it's been trying for a few days now. i feel like a broken record because i am one. we keep watching for this thing, but we got some catalysts this morning. a better than expected economic number, the u.s. economy grew at 3.5% last quarter. better than some analysts expected. maybe that's enough to power things. we're ronly about 60 points awa from that. we'll see if theidatesa can get us there. it seems like i need it to happen so we can move on from it. whatever happens, it's going to happen. trump is also having issues as well. we heard kellyanne conway, new counsellor, but also defense contractors. boeing and lockheed martin responding to donald trump here. the ceo of boeing, if lock heed's ceo, they both met with him. boeing's ceo made a personal commitment to donald trump that the air force one cost thing would not run out of control. you have lockheed's ceo saying they're committed to delivering a affordable fighter

. >> let's go to dominic chu for that. what are you looking at?is getting some attention here in our circles as well amidst a report high for the stock market overall. you have those things going on. again, according to the story in usa today, remember, those tweets came out earlier this week, but according to a source familiar, from usa today, they're saying that this check for a million dollars to help kind of underwrite the inaugural activities for trump was already in place before the tweets about boeing. exactly. so i don't know. and it is just for relativity, kind of sake here, it's the same amount they paid for obama's inauguration back in 2013. so we t that going for us. also, one interesting part about the markets overall, you have every single stock market in the united states hitting record highs. so if you're in your 401(k) statement, that could be a pretty nice surprise. at least for the year. hopefully you're doing well on that front. on the politics side of things, just a comthings to bring up. you have some interesting reaction com

dominic chu has that story for us. >> we do have quite a rally going on. we are just so close to record highs right now. if you look at the overall market here at cnbc we pulled a number of wall street strategists to get what their views are for neksz year and they do have a consensus perhaps upside. according to our forecast the year end forecast for the s&p 500 is 2,325. it's not far from where we are right now. it's only about 3% higher now. that is the middle observation, middle forecast. not a whole lot of movement. on the low end wells fargo expects a range around 2,280. that is on the low end of things. not far from where we are right now. on the high end. over at rbc says 2,500 if that were to happen that would be about 10% upside from here. overall remember these are forecast to change throughout the course of the year. these wall street get ready for next year and the possible catalysts these are numbers now and the stories on cnbc.com. i have tweeted out the story, as well, if you want to know the other forecast and who the participants are. >>

dominic chu is back with some insight on the latter part of this recommendation. >> so if we take a look at the markets overall we have known the dow is marching towards the 20,000 mark. if you look broader into what has been fuelling the overall market rally there are specific parts of the market that are getting really, really up there in terms of possibly the price movement in the short amount of time. lots of people look at different measures of momentum. we are looking how far above and beyond a 200-day average price. how quickly is it rocketing up. if you look at the s&p 500 most extended about 13 stocks within the index or at least 40% above their average price. longer term view. if you look at names they are indicative of what has been driving the markets. we have spoken about morgan stanley but still that stock is right now 42% above its longer term trading average price. united rentals rent a lot of heavy equipment. they are up 43%, the trump infrastructure play since the election. bank of america, the only real big money center up 47% above its 200-day average price. single st

my friend dominic chu joins us.ue man group. >> yes. >> very exciting. >> yes. >> we've got dow trading higher, all are but dow in record territory. >> we've given up half the gains, up 100 points, about 49, 50 points now. >> transports, though. >> so art was speaking with me earlier today, saying some of the traders with dow transportation stocks to see if they can get to a record. a couple points away now but what we're looking for, those people who watch it, record high in dow industrials confirmed by a record high in transportation stocks and see if that bold trend continues. that's one thing they are watching right now. >> it's the oldest theory in technical analysis. dow theory. you need both going at the same time to confirm each other. oil getting pretty comfortable above $50. but did you see late this afternoon -- >> pull back. >> tumble, wti experience, 5111. >> we are there and holding just about this right now. what we want to see energy stocks much more levered, oil can go down and it's volatile. stocks

this would be dominic chu joining me for the closing count down. >> filling in for bob pisani.it is a treat to be with you. >> always a treat to have you here. the dow is the only of the major averages to go higher. enough for a record close. we get closer to dow 20,000. >> inching towards. >> riit's a field goal. >> you are seeing a little bit of divergence. you spoke about the small cap idea. it is notable that they are under performing significantly in today's market. the dow transportation stocks, art cashin and i earlier were talking about the idea that transportation stocks and small caps, some of those more bullish points of the market have now in today's trading been more under performing. >> this is probably why transports went down today. that would have been oil pushing it up roughly 54. now we are at 52.35. here is what the transports are doing right now as we head towards the close down 86 points off the lows. they were down 100. dollar has stalled, as well. big rally after the election. the dollar index can't get above 102. >> if you look at the stronger dollar si

dominic chu joining us with some of the major changes between dow 10k and dow almost 20k. >> like a slow grind higher. it just goes to show you what the dow looked like today versus what it looked like back then. let's take you into the time capsule and back in time versus now. if you look at some of the notable components and some notable companies that were added to the dow since 10 ,000, since march of 1999, had basically nike. we talk about that stock, the other stock besides coca-cola in the red this year in the dow. goldman sachs, public company, wasn't back then. united health, apple, home depot, microsoft, blue chips in their industries. and the reason why they are part of the dow today. look at the notable deletions from the dow back then, remember a time when it wasn't that long ago, at&t was one of the big telecoms in that particular index. also, company known as philip morris, which is now altria, alcoa broken up now to two separate businesses, but hp up at one point, gm, citigroup. so, yes, they're still around but they weren't part of the dow today as they were back then. w

. >> with that record high for the day, let's goat dominic chu. hey, dom. >> good morning. echo the thoughts of the past few minutes because if you look at the market shaping up overall, we are seeing another day, another record high for the dow industrials and just off the early session highs and up 26 right now. notable laggards and david farber mentioned one of them. i would point out, however, that transportation stocks and small caps two of the more outperformers of the past few weeks are not performing. if you look at the at least for right now, up by 2%. no surprise on oil prices. materials, health care also at least for right now holding on to some of the gains. tech and industrials, big etf laggards with sectors overall. if you take a look at when's happening with the oil market overall, that's a big story. down here far lot of traders, chevron and exxon over there watching for that all day today with the oil majors. taking a look at the other companies, not just pioneer but names of anadarko, marathon oil. not necessarily majors and also steaming ahead today, as w

dominic chu is making guarantees. kidding. >> as a former mutual fund industry professional, i've learned to stay away from the g word. the markets could be going higher. but how much higher could they really go? not much further if you look at what wall street strategists think of. right now on cnbc.com, logon, we have a great story up, we polled 13 different wall street strategists and figured out what their year end forecasts are. we summarized them all. the median forecast, we have a 2325 s&p 500 by the end of the year. you're talking maybe 3% upside from current levels. projected out from this year, out to where we are, see a flat line. on the low end, 2280, the middle of the range where wells fargo thinks we could end. flat for the year. on the high end, rbc's jonathan gallub, a 25% rise from here. these are guys trying to project out a year, they don't know when is going to happen, but if they are correct, we're not going much further. >> your next guest would beg to differ with any of the more optimistic outlo

i'm sue herera filling in for dominic chu.alth care sector as we've been telling you standing out as the worst performing sector down nearly 2%. sector taking a hit as president-elect donald trump said he would, quote, bring down drug prices in an interview with "time" magazine. meanwhile, fbr and company says the market is overreacting to those comments. weighing the most on the health care sector biotech names like endo international, mylan. ticker ibb near session lows and on pace for worst day since mid october. health care only negative sector so far this week. you're up-to-date, carl, back to you. >> thank you very much, sue. bewkes just wrapping up, now it's mark cuban's turn. >> the media world is changed. back in 1995, a partner and i started a company called audio net and billed ourselves as the broadcast network on the internet. we were one of if not the very first streaming content a aggregator and distributor on the net. back then biggest competitors were online streaming and consumption of content were radio and