for "nightly business report," m sarah eisen in atlanta. >> dsw puts a best foot ford where we begin the market focus. the shoe retailerd repor better than expected earnings revenue and comparable store sales and raised full-ier guidance. tttributing the strong results in p to the rollout of the kids shoe department. shares jumped by 8% today to $25 and a penny. cvs shareholders elected amp re 11-member board at the company annual meeting today. the new board's firstl task w ceoo decide whether former less moonves should receive a $120 million sevatance package he meeting they adjourned without discussion of the investigation into sexual misconduct claims against moonves. cbs shares fell 3%o 48.24. and wpp is embacking on a major restructuring. the world's bgest advertising agency plans to cut thousands of jobs andhut or merge almost many 200 offices. e decisio comes plonts after the disparate you are yur of the founder and ceo. shares of wpp climbed to 52.38. >>> we told you yesterday that thousands of verizon workerless agreed to voluntary buyouts today we know how much it costs he

sarah eisen has more on results. >> wall street may be worried about a global slowdown but nike is not feeling it. across the board beats for nike on earnings and sales. if you look around the world it's strong everywhere. greater china and importar growth dri for the company plus sales gained 27% despite the trade fight betden the u.s. hina escalating. north america, its home market and justtl recy turned around, grew 7%. better than analysts expected. even europe, which is seeing a slowdown in economic growth saw 11% growth and 15% for emerging markets. adde up it for a company getting 60% of revenue ovsees there is a lot of hammering from the the every inves dollar weakness but nike managed to beat ontr thegth of new innovations like vaber max which is speaking to consumers. for "nightly business report" sarah eisen. >> let's talk about the key take aways from the nike quarter and whether the moment up the company cancontinue. we are joined for brian naegel and senior analy at oppenheimer. he has outperform on the stock with a $90 price target. good seeing you. >> good tsee you too.

norm eisen and jim schultz. counselor eisen, make your case. what's wrong with the president giving his opinion about michael cohen's sentence? >> chris, thanks for having me back in "cuomo's court." what's wrong with it is we've seen a long pattern now, almost two-year pattern of the president engaging in obstruction of justice, and this is the latest act! obstruction means interfering with a federal investigation with bad intent. witness tampering is intimidating a witness. and that's what he did today. alone, maybe not so bad, but even these two tweets together, one hammering cohen, who dares to testify against him, the other praising roger stone, encouraging him not to testify. it's part of a very disturbing pattern. and as part of that pattern, i think substantial evidence of obstruction. >> counter argument, jim schultz. >> how are you tonight? so, here's what we have. i mean, it's always the instinct of someone who believes they're wrongfully accused to lie to a person who's going to say that they're innocent. and i think that's what's g

sara eisen live at coke headquarters, following her interview with the ceo, james kwin quincy lookingke's product road map >> good morning, john. product innovation is key with global economic environment so challenging. asked james quincy if he sees a slowdown this is what he said. >> i think you saw coming out of the summary, it became a little softer as it got into september. so we did see a little decline in september again, 2019, i think is uncertain. lots of forecasts, whether the u.s. or globally saying there will be growth next year, maybe not as much as 2018, but still growth in the u.s. and global economy. we think the consumers will have it and we're bullish on that >> how do you drive growth among millennials? coke like other companies is trying to appeal to a younger generation big part of that strategy is personalization. that's the key theme take a look. we have an up close look at what coke thinks is a secret weapon, a powerade machine only at lsu, it is on the field, the coach can adjust a custom drink for each player, adjust the electrolytes, salt, sugar. and then th

sara eisen has that. >> reporter: good morning, carl. news is that the board voted james quincy will become chairman of the coca-cola board in april of next year. the previous ceo will be retiring at that time. muhtar kent stepping down after 41 years at coca-cola. it comments a leadership transition that's been in place since james quincy was announced ceo, has taken on the reigns of coca-cola, and transformed this 130-year-old american iconic company into a new world where they have been very aggressive, buying a stake in body armor, buying a uk coffee chain, getting into the restaurant business, and so on, as consumers change their habits, don't drink as much diet coke or regular sparkling beverages. they're diversifying management and leadership and the product as well. the company has outperformed under quincy in the last year, outperformed pepsi, and the market, up 6%. guys, we're going to talk about it with muhtar kent tomorrow that's a cnbc exclusive on the change and new face of the company. back to you. >> thank you very much c

i'm carl quintinilla with sara eisen and mike santoli at post 9 of the stock exchange.up 70, s&p up about 13.5. >>> our road map for the hour begins with stocks higher this morning but having their worst december ever and on pace for their worst year in a decade the dow and s&p hovering near bear market territory. a breakdown of the buying opportunities and where they exist. >>> the president weighs in on stocks telling investors now is the time to buy but once again criticizes jerome powell more on that coming up. >>> and finding you opportunity in the new year. the names that should be on your radar as we close out 2018. >>> we'll begin with stocks, dow hanging on to a 66-point gain, having the worst december in market history, down more than 15% in the last three months alone, hovering with the s&p close to bear market territory szhau dow is 5,000 points off the record high and the president says it's a tremendous time to buy stocks listen. >> we have a normalized interest rate that means -- it's good for a lot of people. they have money in the bank, they get interes

. ♪ >>> we have an earnings oorlt on nike soaring in the after hour sahr are eisen with more. >> nikest on what was a very strong quarter expecting the growth to continue the cfo just citing high single digit to low double digit growth for earnings into 2019, continued margin expansion, obviously the strong dollar does chip away at some of that. says they have visibility into 2020 and what they see is strong demand they call this sustain ability in our growth going forward, and they said it looks stronger than previously expected for the year why? well, the nike executives including ceo mark parker talking a lot about the groesht growth initiatives on the call women's digital apparel and turn around in the jordan brand listen. >> with the jordan brand we are seeing positive results from the strategic shifts that we're making in q 2 jordan grew double digits and we returned to healthy sustainable growth in north america. at the same time, we have continued our pace of double digit growthonly we are making great progress in diversifying jordan. >> and melissa, added bonus, international

. >>> joining me mark owens, and former obama white house ethics czar, norm eisen. >> it's about timegeneral of new york has arrived at this agreement. you know, john, it's a persistent pattern of taking cash for a charitable public purpose and using it to benefit trump himself. his political expense, his business needs, his own family. it's abuse of public interest for private gain. that's like the pattern in the white house. we can expect more of this accountability. i'm glad it happened to the foundation, finally. >> what do you go through this? $40,000 of paintings, tim tebow helmets. a $7 foundation gift to the boy scouts when donald jr. was joining. any ambiguity there? >> the foundation was used on investments. that's a pattern of behavior for state and charity law, and for federal tax law, as well. they tend to penalize the same sorts of activities and misuse of money, same sort of use of money for political purposes. trump was televised with a check from his foundation at a political rally. difficult to deny that. >> i read that you said this is more egregious than similar ca

sara eisen will join us in a moment with the an exclusive, the outgoing chairman of coke, muhtar kent that. in the meantime, as we start this friday morning, a big show ahead starting with the november jobs number. payrollsup by 155,000 versus expectations of 198,000. unemployment holds steady. markets responding today as the major averages swing between gains and losses and the anxiety of the trade truce weighing on investors. the president trying to temper those fears tweeting oil prices up as reports indicate opec may have reached a deal to cutout put. we'll take you live to the meeting in reason is in a few moments. david kelly is here and diane swonk, chief economist with grant thornton talking about the numbers we got what did you think of that and the wage number and the revisions? >> well, you know, stocks evolve, the job market isn't this is what we were expecting the unemployment rate, you take it out to an extra tenth, it hit a new 49-year low. labor market is tightening what's going on here is 2the economy is shifting from third gear to second gear. people are getting nerv

send it back to you guys. >> sara eisen.n we come back, as sara mentioned, sundar pichai is live on the hill. we'll take you there as soon as hebegins to speak. >>> session high was 268 we've lost some of that. some of the top-performing names. we're back in a minute place, the xfinity xfi gateway. and it's strengthened by xfi pods, which plug in to extend the wifi even farther, past anything that stands in its way. ...well almost anything. leave no room behind with xfi pods. simple. easy. awesome. click or visit a retail store today. >>> rets g >>> let's get back to capitol hill ylan mui has been monitoring the hearing as it's getting under way. good morning again, ylan. >> reporter: good morning, carl. it's been an amicable start so far, a handshake and kind of a bro hug. political rivals, at least at this hearing, starting things off in a friendly manner the appearance of mccarthy was a bit of a surprise. he had some strong words for google, however, particularly as it relates to its operations in china. it says that the

right now >>> good friday morning, welcome to "squawk on the street," i am carl quintanilla with sara eisen at the new york stock exchange jim cramer is at the starbucks roastery where he'll talk to kevin johnson and dara khosrowshahi. the chinese will temporary halt some autotariffs europe is down nearly a percent. road map begins with the china effect, futures is pulling back on weak economic on china. >> as we mention, jim's interview with kevin johnson and uber's ceo, dara khosrowshahi. a stocks at a rough open we got weak industrial production and retail sales add into investor concerns of global growth slow down and u.s./china trade conflict retail sales did come up above expectations up two-tenths you heard santoli and sar ra talking about the control group. >> you got this pattern, better u.s. data and weaker global data and all of that adds up to two things which are fuelling this market, one, concerns about global growth and how much worse that's actually getting and could it spill over. two, the money goes back to the u.s. dollar. the dollar on track to have a 1% up week when the

this is a message of peace that eisen is no longer here in mosul the society should live in peace and harmony after these dark days. this is the eastern side of the tigris river here people are trying to reclaim the night while knowing a short distance away lies stark remind us of battles. in the west side of mosul is still in darkness most of the people there. is alive but the west side is dead there is total destruction there it is like to hear regime a bomb dropped daylight reveals the devastation on the western banks of the tigris people who used to live in houses of bricks and cement and western mosul are now sheltering in tents in camps like this one thousands have lost everything parts of eastern warsaw may look like they're returning to normal but people from the west say there's nothing normal for them to return to. so do more harm and has been living in this tent with his family since their home in west mosul was bombed said whom lost both arms in the attacks and with hope we can return to mosul right now security is still fragile our houses are level to the ground there is

this is a message of peace that eisen is no longer here in mosul the society should live in he says in harmony after these dark days. this is the eastern side of the tigris river here people are trying to reclaim the night while knowing a short distance away lies stark remind us of battles. in the west side of mosul is still in darkness most of the people there saw its side is alive but the west side is dead there is total destruction there it is like to hear regime a bomb dropped daylight reveals the devastation on the western banks of the tigris people who used to live in houses of bricks and cement and western mosul are now sheltering in tents in camps like this one thousands have lost everything parts of eastern warsaw may look like they're returning to normal but people from the west say there's nothing normal for them to return to. so do mohammed has been living in this tent with his family since their home in west mosul was bombed said whom lost both arms in the attacks and us with hope we can return to mosul right now security is still fragile our houses are level to the ground

this is a message of peace that eisen is no longer here in mosul the society should live in peace and harmony after these dark days. this is the eastern side of the tigris river here people are trying to reclaim the night while knowing a short distance away lies stark remind us of battles. in the west side of mosul is still in darkness most of the people there. is alive but the west side is dead there is total destruction there it is like to hear regime a bomb dropped. daylight reveals the devastation on the western banks of the tigris people who used to live in houses of bricks and cement in western mosul and i was sheltering in tents in camps like this one thousands have lost everything parts of eastern mosul may look like they're returning to normal but people from the west say there's nothing normal for them to return to. so do mohammed has been living in this tent with his family since their home in west mosul was bombed said lost both arms in the attacks and. we can return to mosul right now security is still fragile our houses are level to the ground there is no life for us the

this is a message of peace that eisen is no longer here in mosul the society should live in he says in harmony after these dark days. this is the eastern side of the tigris river here people are trying to reclaim the night while knowing a short distance away lies stark remind us of battles. in the west side of mosul is still in darkness most of the people there. is alive but the west side is dead there is total destruction there it is like to hear regime a bomb dropped daylight reveals the devastation on the western banks of the tigris people who used to live in houses of bricks and cement and western mosul and now sheltering in tents in camps like this one thousands have lost everything parts of eastern warsaw may look like they're returning to normal but people from the west say there's nothing normal for them to return to. so do mohammed has been living in this tent with his family since their home in west mosul was bombed said who lost both arms in the attacks and those with hope we can return to mosul right now security is still fragile our houses are level to the ground there is

i'm carl quintanilla with david faber and sara eisen another run at 24k, up 300 points as boeing andhe dow. >> the dow and s&p are still on pace for their worst december since the great depression. >> and, quote, feel the market the president calling on the fed not to raise interest rates as the two-day meeting gets under way. >> johnson & johnson standing by its denials that its baby powder does not contain asbestos. we'll hear from the ceo. >>> best daily gains so far for the month. s&p pulling back from its lowest close in 2018 despite the rally. still on pace for their worst december performance since the great depression, as sara said pimco's vp and usa global ceo, thank you for joining us getting this meeting under way, obvious continued pressure from the president. what happens what happens tomorrow afternoon? >> alan greenspan described the fed as the most collegial organization he ever witnessed he was already 62 years old so he had witnessed a lot of organizations. you could say about the federal reserve and all its members they're amongst the best civil servants in washing

click or visit a retail store today. >>> welcome back to "squawk on the street," i'm sara eisen withnilla and david faber at post 9 from the new york stock exchange the dow was up more than 400 points, it's still up 354, digesting the trade truce. we're also watching a live picture from husz on the, texas, where the ceremonies have officially begun four days of mourning for president george h.w. bush he is being carried into thearse where he will be transported and then he will be on his final flight to air force one later this evening. >> he will be eulogized by president george w. bush wednesday at the national cathedral in washington, d.c one of the events in what will be a week-long proceeding until he is taken back to texas for burial it's been 12 years since we last laid a president to rest so it's had a lot of aftereffects, the government, of course, markets will be closed on wednesday. we won't hear from powell as we were planning to hear on the hill on wednesday and then nyse will be closed and all the crazy political rhetoric we're used to will be put on hold for a while. >

on monday "squawk on the street" is next ♪ >> good morning, i am carl quintanilla, i am with sara eisennd wilfred frost. david is off cramer is going to join us by the phone. europe is up 1.2%. japan closes the year down 12. they are closed on monday. oil is back about 45 our road maps begi begins with street futures is foipointing to a higr open >> cramer says the recent volatility is about as bad as he has seen cramer joins us. why he says jay powell is getting schooled >> stocks are poised to open higher this morning. the rise of all three major averages recovered to post some ol l solid games. if we are going to erase the whole 1931 thing, we got to get about another 4.4%. >> yesterday, 2:17 p.m., the dow is down 611 points and 200 gain in the last hour so at 3:00 p.m. and it was a straight line up going positive the last half hours. to gain back almost 900 points, biggest dow and nasdaq rehearsal in ten years does that mean we are still in a bear market or does it mean it could be the making of abbott. we did have the two back-to-back games. there is some following through. this is

i'm carl quintinilla with sara eisen and david faber at the new york stock exchange.ek as regular issues are front and center this time it's may and brexit. the huawei cfo in vancouver, china, trade, the fed and more. >>> as you can see, stocks slipping lower as investors fear an intensifying trade war between the u.s. and china apple takes a leg lower after qualcomm wins a court order. british prime minister frame is getting ready to make a statement this hour. will she pull the brexit vote scheduled for tomorrow wilfred frost will join us from london on that and the fear factor steve liesman looking at how market swings are impacting economist projection on fed rate hi hikes. but we'll start are rick santelli and the latest economic data. >> we're looking far read on october job openings and labor turnover known as jolt 7.079 million. this is the fourth number in this data series that has seven million or higher handlement it's the only time in history that we've had seven million the first one was in july. this is the second-highest ever so we continue to monitor t

eastern time when we come back, the future for under armour sara eisen with kevin plank and presidentyour data to work on the cloud that drives business. the ibm cloud. the cloud for smarter business. ♪ why don't you come over >>> good thursday morning, welcome back to "squawk on the street." i'm carl quintinilla with sara eisen and mike santoli at post 9 of the new york stock exchange david faber has the morning off. dow is up 47 banks have gone red but we have a key upgrade on ge. >> and our road map starts delight with general electric shares soaring on the upgrade. is this the ge bottom? >> apple's expansion the tech giant announces a new billion-dollar campus in the lone-star state. we have details. >>> volatility reigns supreme. stocks higher, just barely, as investors look at the latest developments surrounding the ongoing u.s./china trade war. >> and a big interview that you will not want to miss, the ceo of under armor kevin plank along with his number two, president patrik frisk will join me on the heels of their investor day and 10% stock slide. the street was disappointed

i'm sara eisen with david faber and mike santoli carl has the morning off let's look at the markets.f hour into the trading session. stocks are gaining on this fed day morning. the 2:30 news conference, dow is up 155 s&p 500 up.75% and the nasdaq up 1% our road map will begin with the fed. it's decision day. investors are hitting the pause button as they await a possible rate hike. >> plus, this deal could change the face of health care. pfizer and glaxosmithkline joining forces it will become the largest producer of over-the-counter dr drug general electric has -- >> and fedex on pace for the worst day in ten years cnbc senior economics reporter steve liesman is with us from washington where he's honing his press conference question, no doubt. he'll tell us what we should expect to hear. >> been through three pencils already. the dovish hike, the fed signalled future hikes will be less certain here are some changes we could see today. we call it the keys to the fed it will reduce its growth outlook for from 2.5%, probably something lower than that. reduce the rate hike forecast. tal

friday morning, welcome to "squawk on the street," i am carl quintanilla with david faber and sara eisen jim cramer is off. we'll walk u.s. fed chief john williams on our air in the next hour dana, we got a miss gdp and consumption. our road map begins with volatility trade futures are higher >> john williams join "squawk on the street" ex clus sclusivelyy way. the house is passing a spending bill with border wall stalemate. president trump is calling republicans to go nuclear. >> the nike crush. a big earning beat helped by strong online sales and the tariff threats are raising the outlook. >> stocks are on the week for the nine months. a government shut down is looming tonight at midnight unless the president and lawmakers can come up with an agreement, the sticking point is funding for a border wall. got the house vote, looks to not pass in the senate, although the president is leaning on mcconnell to end the filibuster to allow to pass with 50 votes shut down are noise and if it is shut down, it is not likely to last very long, although the president said differently >> yesterday w e

looking at it objectively, the economy is not really that strong i think sara eisen said it right, itbarely okay gdp growth was barely above 1%, real final sales you're seeing what's happening with housing, you're seeing what's happening with capital spending, had a couple of good quarters, now it is rolling over look what will happen with exports and the oecb leading indicator is down 11 months in a row. as weak as growth was this year, it will be worse next year when you do top down analysis, it is not hard to get a view that gdp growth is less than 1%. >> how did the market get it so wrong with stocks soaring as long as they were? >> stocks soared in january. almost an 8% runup first three weeks of the year because of tax cuts headlines said best january 1987 i retorted, when i canvas people about 1987, they don't remember january, they remember october this has been a roller coaster ride the market hasn't gotten it wrong. it ran up january on the view that fiscal stimulus would give us a couple of quarters of good growth that story is now in the rearview mirror. this is the one se

i'm sara eisen wilfred flost will rejoin me in a moment along with mike santoli. markets commentator. check out how we finished the day on wall street best day for the dow, s&p and nasdaq since march 2009. first time ever the dow has finished higher by more than 1,000 points 1,085 points that's good for a gain of almost 5% for the dow s&p 500 also climbing 5% all sectors there higher check out the nasdaq, up almost 6% this was a ferocious rally today, up 5.8% and the russell 2000 index of small caps up almost 5%, burks again, coming back from a very oversold market, according to everyone we've talked to. the it's been a rough year for auto stocks in particular with ford and gm posting steam declines, but tesla outdeperforming both and turning higher on the year what other stocks to buy that discussion among others coming up, but first today's market action. bob pisani here on of the floor. new york stock exchange and jackie d'angelis with the nasdaq and the moves there. what got this all started? >> yeah, remember, march 2009, 5% that's the last time we saw those

now here's wilford frost and sarah eisen, live at the new york stock exchange. >> we are here after anotherl street. the dow swinging nearly 900 points today, staging its biggest reversal in a decade >> let's bring in chris edleman from the california state teacher's retirement system. chris, good evening to you thank you very much for joining us >> good evening. i'm dizzy from today i have to tell you >> as are we it's been a crazy couple of days this volatility we've seen, is it normal or is it something new, chris >> no, i think the last few days have been abnormal volatility. it was discussed earlier the volatility we saw in october and november i thought that was going to be expected, and that's typical when you have a bull market that's so old and so late in the economic stage. but the last few days have been abnormal christmas eve is normally a quiet day, and that was crazy to see that decline >> there's another factor that we were hearing about here on the floor of the stock exchange today, and that is pensions like yours having to rebalance to the end of the year, get your stock al

. >> morocco owens, norm eisen, thank you for being with us.t's check in with chris cuomo for cuomo prime time. >> a good conversation. it goes a step further. not only is trump settling, shuddering, he may agree to be shunned. one of the this things new york ag wants is for him and his kids to not sit on the boards of charities for different periods of time. can you imagine that? a sitting mr. president of the occupation, not allowed to sit on the board of a schacharity. major implications going forward the way this guy sullivan framed up with general michael flynn today and i have a piece of paper here that proves that the president of the united states is changing the facts of a big part of the russia story. the question is, why? i'll take you through it. >> we'll see that piece of paper in about four minutes, chris, thank you so much. >>> up next, more breaking news that could result in the biggest shaking up of the criminal justice systems? generations. without raising your blood pressure. coricidin hbp. (burke) parking splat. and we cover

wilfred frost alongside sara eisen. straight to the markets, the s&p 500 intraday chart, right before the fed decision it was up 1.1% at 2:00 p.m. we were expecting a dovish hike, bullet market did not think it was dovish enough in tone. we sold off twice in the last couple of hours, firstly on the decision itself. we then recovered a little bit as the start of chair powell's comments were fairly dovish, but towards the back end we did hit session lows we were down over 500 points at one point on the dow we're down 1.25% on the s&p, over 2% swing in the last hour or so. >> big move across assets. you're seeing buying of bonds and pushing treasury yields lower opposite whatever you saw initially. the dollar pretty much flat, climbed um the basic takeaway, yes, rate hike that was expected by the markets. they moderated the fed outlook in terms of growth for 201 cut the number of hikes expected or interest rate increases expected in 2019 from 3 to 2, but, again, didn't give investors enough to cheer about, and in jay powel

the ceo of coca-cola addressing global fears with an interview with sarah eisen earlier today. >> 2019you've got lots of forecasts out there, whether the u.s. or globally saying there is growth next year, maybe not as much as 2018 a little bit slower. but still growth still growth in u.s., still growth in the global economy we think the consumers will have the money. and so we are bullish on our plan. >> all right but his bullish outlook didn't doctors impress one who made a $3 million bet against coca-cola stock today. dan is at the plasma with the action. >> all right sully hold with the tease. who knows what this is against it could be protection but volume ran hot in coca-cola. about five times average daily vom. the one trade sully is talking about, the buy of 35,000 of the january 2020 over a year from now 40 strike puts breaking even at $39. down 21% in january of 2020. and why do i say this? the options market is only saying there's about a 15% probability that those options knows puts will be in the money on january expiration 2020 so a good way to get risk manager off your ba

casino taking a hit today at famed short seller jim chanos tells sara eisen the trade war and slowingthe space. >> recently we added new and old names. one area i'm scratching my head about it the ma cao. >> who are you shorting. >> you know the name wynn sands. las vegas names. hong kong listed asian operations and then in the hedge fund we are long the chinese operators. >> these stocks have gotten crushed all down 20% or more are there signs of a turn around what do you make of chanos's bet? it seems like a concentrated bet on the china economy, trade war, as well as the notion they might lose concessions. >> and jim does thoughtful work. but he would say erwin which is trading 115ish but it trades up to 150 he would still short the stock. as a trading show, i think there is actually -- some room to continue to bounce the upside. he would agree with that as well here is stocks i mean wynn has gotten eviscerated trading below 100. i think there is a bounce up to the 120. although he is right in his fundamental analysis, i think the real pain to the upside. >> damage is done in las v

you're in "the rich eisen show". ♪ >> you're in "the situation room." >> we're following breaking newsn the search for a new chief of staff. multiple sources telling cnn mr. trump is angry and feels humiliated after he was turned down by the vice president's chief of staff, nick ayers. it is possible but not clear if maria butina agreed to cooperate with federal prosecutors or if she could advance the russia investigation, but there's no doubt that the legal pressure on the president and his inner circle is ratcheting higher as the gravity of robert mueller's newest revelations sinks in. >>> by cnn's count, contacts between russia and 16 close trump associates have now been exposed. this hour i will talk about that and more with senate judiciary member chris coons. our correspondents and analysts are standing by. let's go to our chief white house correspondent jim acosta. the president's plan to replace john kelly, his chief of staff, have now blown up in his face. >> reporter: they've blown up and he is furious about it, wolf. president trump stayed behind closed doors for much of the

this is a message of peace that eisen is no longer here in mosul the society should live in he says in harmony after these dark days. this is the eastern side of the tigris river here people are trying to reclaim the night while knowing a short distance away lies stark remind us of battles. in the west side of mosul is still in darkness most of the people there. is alive but the west side is dead there is total destruction there it is like to hear regime a bomb dropped daylight reveals the devastation on the western banks of the tigris people who used to live in houses of bricks and cement in western mosul and now sheltering in tents in camps like this one thousands have lost everything parts of eastern warsaw may look like they're returning to normal but people from the west say there's nothing normal for them to return to. so do mohammed has been living in this tent with his family since their home in west mosul was bombed said lost both arms in the attacks and. we can return to mosul right now security is still fragile our houses are level to the ground there is no life for us there

ebm and rife eisen.hers are in the eye of the european storm. >> the particular value in terms of the banking sector is, it is cheap. banks have been under pressure. we talked about cost-cutting and banks. -- it's part of my argument about the credit markets. it spread will peak on valentine's day. the market is cheap. the sector which is really cheap is the financial sector. insurance in particular. very cheap. banking sector, very cheap. 2019 will be a valuation story. banks are the place where the most attractive valuations are at the moment. nejra: you are saying we need to be more concerned about revenue in europe. what does that mean in terms of which sectors are named in particular? >> in terms of sectors, it is very clear. it is the sectors under pressure in 2015 as well. german auto sectors. manufacturers, french and italian companies. they are very dependent on the richerg of the chinese middle-class. that's part of the story which will unfold over 2019 as well. that, there are industrial compa

. >> is it as simple as for the last eight years -- sarah eisen pointed this out central banks' balance sheets expanding over the last six months now you've had them globally contracting, led by our fed. is it that simple, that you stay with central banks balance sheets >> we're see the central banks normalize. the process of normalization based whereon rates are, money is still very cheap. the process of normalization is very, very sensitive to both weaknesses -- both vulnerabilities and strengths in these economies. as a result of that, i think most of what we had in this fourth quarter, which was very painful -- i mean, in terms of talking to a lot of people, keeping them off the ledge the reality was, it was algorithmic trading. it was opportunistic investors finding an opportunity to justify selling and taking profits. >> let me bring in pete for a question >> sure. thanks, tyler. so you agree with the idea the al algorithmic trading and the absolute massive moves are crazy. but has that created now the opportunity that i think we're seeing are there opportunities? i'm not just tal

do we know if the president ultimately directed him to do that >> sara eisen has reported that the presidentictated a tweet to the treasury secretary in order to assure investors and assure the public that he does not intend to fire jay powell. that was a direct quote from president trump. as of now nothing further than he has full confidence >> thank you the markets continue to suffer from what we could be calling the trump tantrum this week. >> were you waiting to use that. >> i will use it that's where we are at this point. >> let's talk about the markets and the shutdown joining us on set is chris retzler and jeff steinberg chris, to andrew's point, is that what's happening with the u.s. stock market? is it because they're upset about trump and the decisions made out of washington do we go back to october 3rd and say this is all powell's fault >> i think the machines have taken over what you're seeing in the marketplace is the constant draining of liquidity. it's a whole combination of things out there the fed is moving rates higher they're there's taking some of the bonds off their bala

this is a message of peace that eisen is no longer here in mosul the society should live in peace and harmony after these dark days. this is the eastern side of the tigris river here people are trying to reclaim the night while knowing a short distance away lies stark remind us of battles. here the west side of mosul is still in darkness most of the people there are soulless its age is alive but the west side is dead there is total destruction there it is like to hear regime a bomb dropped daylight reveals the devastation on the western banks of the tigris people who used to live and houses of bricks and cement in western mosul and i was sheltering in tents in camps like this one thousands have lost everything parts of eastern warsaw may look like they're returning to normal but people from the west so there's nothing normal for them to return to. so i don't mohammed has been living in this tent with his family since their home in west mosul was bombed said who lost both arms in the attacks and those with hope we can return to mosul right now security is still fragile our houses are l

this is a message of peace that eisen is no longer here in mosul the society should live in peace and harmony after these dark days. this is the eastern side of the tigris river here people are trying to reclaim the night while knowing a short distance away lies stark remind us of battles. in the west side of mosul is still in darkness most of the people there. is alive but the west side is dead there is total destruction there it is like to hear regime a bomb dropped daylight reveals the devastation on the western banks of the tigris people who used to live in houses of bricks and cement in western mosul and now sheltering in tents in camps like this one thousands have lost everything parts of eastern warsaw may look like they're returning to normal but people from the west say there's nothing normal for them to return to. so i don't mohammed has been living in this tent with his family since their home in west mosul was bombed said whom lost both arms in the attacks and. we can return to mosul right now security is still fragile our houses are level to the ground there is no life fo

here are his exclusive comments to sara eisen on macau >> recently we added new and old names.a i'm scratching my head about is the macau casino guys >> so who are you shorting >> we're basically shorting the u.s. guys. >> wynn. >> wynn and sands. particularly the hong kong listed asian operations. and then in the hedge fund we are long the chinese operators. >> you can see more of that exclusive interview on our website, cnbc.com. >>> some stocks to watch adobe's fourth quarter earnings beating forecasts. revenues roughly in line adobe upping its revenue outlook for the year strong demand here and abroad. jim cramer spoke with adobe's ceo last night about the company's bullish forecast >> i think we're absolutely in the sweet spot of two massive shifts that are happening, creativity has never been important. when you think about creative cloud, to your point, we drove 1.45 billion of net new annualized revenue in the year, a record for us. when you think about what's happening with digital transformation i every enterprise, trying to engage can customers, that grew dramaticall

i'm carl quintinilla with sara eisen and david faber at the new york stock exchange.ows but we are on pace for the lowest close of the year rull goes in russell goes into a bear market. >> our road map starts with another rate hike coming investors keeping a close eye on the fed ahead of this week's all-important meeting. >>> and continuing signs of progress from u.s./china trade talks. peter navarro will join with us an update. >>> plus malaysia is filing criminal charges against goldman sachs over its sovereign wealth fund scandal we'll give you the details >>> stocks extending the selloff on friday. their worst pace since 1980. the dow, s&p and nasdaq are sitting in correction territory. joining us, ali mccartney, managing director at ubs wealth management and larry glaser at may flower advisers. what do we make of this action following friday's price action? >> i think a lot of us hoped we would see something a little more exciting this morning but i think nothing has changed. we have a fed meeting that we're hoping to see some dovish sentiment from we have more t

. >> all right tune in tomorrow, by the way, "squawk on the street", sara eisen going to sit down withes quincey. we'll have that for you starting at 10:00 a.m. >> talk about stocks that have done fine in all of this is coca-cola. i did notice berkshire hathaway down 9%. >> we talked about whether or not it was reflecting buffet's apple stakes or bank stakes? >> proxy for banks, financial and apple for better or worse. apple stake is not big enough to matter but psychologically. >> we'll see what tuesday brings kind of fun. >> maybe in a year. >> that does it for the "closing bell," "fast money" begins right now. >> you said it, "fast money" starts right now live from the nasdaq market site overlooking times square i'm joe kernen in for melissa lee. i did the nicknames. tim seymour. carter big net werth steve cut the grasso and guy adami s&p 500 tracks for its worst year since the financial crisis. one of wall street's biggest bulls says the bottom isn't in yet. >>> plus, as volatility spooks investors, one of fidelity's top investment advisors says people are making

sara eisen is in washington, d.c., she will be all over, has been the last hour, all over the selloffas well, a big day ahead in washington, d.c., don't you? >> yes, we're going to talk to managing director of the imf ex-chewsively. christine lagarde. this backdrop will be important on what the market is signaling. they have been warning about slowdown in global growth, very concerned about trade tensions and frictions. but applauded the cease-fire reached in argentina during the g20 meetings between president trump and xi she was there. we'll talk about whether that trade truce was real, whether it will hold up, whether it is realistic to expect a deal in 90 days, and what the meaning of the new arrest of the cfo is in that context, as well as what's happening with bonds and the economy. see you at noon for that >> big story we don't fully understand yet we're all over the selloff dow wndo 585 "squawk alley" starts in a couple of minutes. hey! yeah!? i switched to geico and got more! more savings on car insurance!? they helped with homeowners, too! ok! plus motorcycle, boat and rv in

i'm sara eisen welcome back >> i felt like we were together because we got so many updates >> yes we are seeing another big selloff. we are down the best part of 2% with one hour left to trade. the s&p now on pace for the third weekly decline out of four weeks. the dow on track for the lowest close since june >> and chocking up the worst quarterly performance since back in 2011. health care and energy with the latter falling into bare market territory because of continued slides we are seeing let's begin with the fears weighing on investors minds today. that would be global growth. steve is looking at concerns about the economy. let's start with you >> we were down 525 points off the lows we bounced off of that level blast important to know is that the sell off started overseas. it is down half a percent as did u.s. stocks on the global growth concerns around 10:00 a.m. shaved about 95 points off the dow and lower once the markets closed down for the week the selloff pretty widespread. they could not catch a break with today's losses it has reentered correction territory two energy a

. >> to extend humans lower eisens, that is what came out of apollo, not how do you make teflon pots and pans? and whether that is a lasting thing, i think it is. andty think that apollo was extremely important. other than world war ii, it may have been the most important project in this century. >> do you look up in the moon a little differently than the rest of us? >> sometimes i do. i try to. i look at it in awe, i can't believe i was there. most times i just revel in a beautiful moon. >> anything that -- i haven't gone through all my questions, but -- >> i think i'd be representative to say i was proud to be associated with that team. you can fault people for what they did or didn't do. but when you think what that team accomplished in that decade, it was a remarkable group of men and women. i think it was one of the rare moments in history, when people can look back and say, everything was together. i was proud to be part of it, as i said, i think my part more important parts was played on the ground. i was overwhelmed being on apollo 8 and gemini 7. >> all right. >>> man's ques

sara, back to you >>> i'm sara eisen at post 9 of the new york stock exchange.the morning off our road map begins with the fed decision, raising rates, lowering its 2019 projection of interest rate hikes. robert schiller weighs in this hour. >> the major indices are taking a dive after yesterday's announcement and they are lower again this morning we'll give you full analysis of the market reaction >>> and the trump administration targeting china over hacking and economic espionage as part of a coordinated international effort new saks sanctions expected thu >>> first, let's start with steve liesman with the market's response to the fed raising interest rates does the fed have a credibility problem? >> i think it's an issue whether it's the decision by the fed, the policy decision by the fed or whether it's the strong selloff -- hang on one second. the fed policy or bad communication or whether fed chairman jay powell lost the trust of the markets it could be there's no convincing markets on the value of anything but a forecast for no rate hikes and an immediate

i'm sara eisen welcome back >> i felt like we were together because we got so many updates >> yes welloff. we are down the best part of 2% with one hour left to trade. the s&p now on pace for the third weekly decline out of four weeks. the dow on track for the lowest close since june >> and chockin

i'm sara eisen here with scott walker and mike santoli on this new year's eve live from post 9 at thechange let's take a look at the markets. we do have an end of year-rally here the dow is up 213, all on some on city micptimioptm he's tweeting he's made big progress with china's president xi will real progress actually follow >>> plus trade optimism closing out at extremely volatile q4 folks on wall street like barry saying that the fed is missing something. >> right well, i agree with barry, sara i think he's absolutely right that we're pretty close to neutral and the fed is beginning to realize with the reaction function coming through. so i think the market's getting that confidence is that they're not raising interest rates with what they were going to. they may not rads at all in the is coming year i think in the real time, they' they're adjusting to that. the street is still at 173 and too high so they've already locked a slowdown in earnings and growth and that's going to impact the upside in 2019. >> what you're saying is you're putting it all on the fed? if the fed doesn't g

i'm sara eisen. >> and i'm michael stoly >> let's get straight to the markets.s kelly and tyler just mentioned, stocks soars on optimism over trade talks between the u.s. and china off the highs of the day down now trading up a percent, higher by more than 250 points at one point it was higher by almost 500 points. >> 2% across the indices earlier. did get a fade at 2:00 has been a little bit of a habit, that rallies ge

. >>> welcome back to "squawk on the street," i'm sara eisen. an hour into the trading session and things have been deteriorating rapidly s&p 500 down 1.8 giving back a big chunk of yesterday's gains, now down 420 points all s&p sectors lower led by energy with oil prices down 2%. >> i think the dow is lower on the week meantime the government shutdown entering its sixth day ylan mui has the latest on the negotiations ylan, has there been negotiations >> well, the president is back in washington, morgan, and he is become on twitter. here is what he put out on twitter this morning he wrote "have the democrats finally realized that we desperately need border security and a wall on the southern border?" that tweet comes after president trump was in iraq making a surprise visit to the troops he spoke with reporters while he was on the ground. he defended the timing of his trip which came during the middle of the government shutdown and he talked about the possibilities that this shutdown could last a long time. >> reporter: how long do you think the