gabelli about bob iger's return to disney he's known for his media calls plus, goldman sachs jan hatzius will break down the latest signals from the fed and abercrombie & fitch is spiking senior markets commentator mike santoli, what's on your radar? a pretty broad rally thanksgiving seems to be positive, right, seasonally? >> we've been talking about how the market was having this orderly low drama, consolidation of the rally, not any selling pressure coming in modest pullback and has gone sideways where we sit now right at this level just under 4,000 is slightly above the closing high for this rally which was a week ago friday we did get above that. it's inching in that direction, but you see since the low in october, you've seen a series of these higher lows, a stair step type action you want to see. of course the big test comes above here when you challenge the overall downturn on the tactical basis that's where if the market is goingto go to that point of kind of maximum mutual frustration or suspense, it's going to be more like 4100, 4200 and make the bulls and bears make a decisio

been another very busy week of market-moving news let's bring in goldman sachs' top economist jan hatziushe hood, a lot of mixed messages, i would suggest. >> yes as you get, from time to time, between the two, the establishment survey and the household survey, establishment survey, stronger than expected where the household survey was much weaker. generally, i think you should put more weight on the establishment survey overall, i would say this was pretty solid. >> pretty solid. do you feel like the labor market is showing the slightest, most tentative signs of the effects of the fed's tightening campaign based on this report today? >> well, there has been a deceleration in employment growth as we've gone through the year from extremely strong rates of job growth to mainly strong rates of job growth. the other thing to focus on is wage numbers while today's number was a touch stronger than consensus expectations if you look at different indicators over the last several months, there's been a deceleration in wage growth. and that's what the fed will need to see because they're worried wa

if you look at what jan hatzius had to say, we got a half point rise in the unemployment rate.nd there you have the rest of it you know, jim, listen, we've got so many earnings this morning, whether it's cisco, obviously, you had chuck robbins on mar"mad money. nvidia alibaba with that incredible 3% revenue growth i kid, because i can remember the days when it was 36, 38, 39. just 3 but not any outsize moves, guys, in terms of the sponresponse toy of these earnings up or down nvidia may be down a bit, macy's may be up a bit, cisco may be up a bit, and baba down jim, i want to come to you on these. >> well, nvidia said that, over and over again, that china was tough, although they did arrange it so that they had something to sell that was in keeping with what our government wanted but the word "tough" keeps coming up. the supply chain issues that chuck robbins had from cisco have been solved, and those involve china. it doesn't do an actual lot of business in china, in part because i think they recognized early on, not a great place to work the analysts were way too skeptical. b

goldman sachs economic team led by jan hatzius say cost of housing is falling and labor markets are coolinge able to be less aggressive in its interest rate hiking cycle now let's talk technicals which katie could care less about what i said katie stockton joins us, founder and managing partner as well as a cnbccontributor. the bear market rally, and that's what you call it, it has legs and that might be significant too. but still a bear market rally. >> yeah, still looks like it to me we have all the short-term gauges pointing higher now and there's not a lot of breakouts with this move as much as it's been impressive off of that late september, early october low. i think what we've had here is really a macro shift that's driven this rally and it was very similar to what happened over the summertime where we saw the s&p 500 peak in mid-august the ten-year treasury yields had been correcting ahead of that peak for really several weeks. so i think we're probably in store for something similar this time around where the s&p 500 will peak on the back of a short-term low-end treasury yield. and