and granted people you know complained about the studies because they were funded by you know the i s p'sbut. you know at this point let's talk about what more money see what money can do here scott you know i mean. i looked at some sources you know one hundred one million dollars came from these i is peace lobbying congress i suppose they landed their pen and paper and said don't you worry we'll take care of that bill for you ok i mean i looked at the list of everyone taking money that's remarkably bipartisan probably the only bipartisan thing i've seen lately people taking money from the eye of peace let me go to let me go to scott and they will go to julio go ahead scott well absolutely i mean obviously who you know and who you pay off you know we do live in a country of the history of the meyer lansky the history of the lucky luciano those just like truman was bought and sold by the mob we have our current real estate mobster in chief who has also been in bed with the mob for several decades that also you know this is a problem in the united states you know buying and selling politici

says unnecessary regulation of i. s. p.'s has hampered investment they could bring faster better internet to more americans. ideas these are allowed to e pick which sites and apps load based on who can paid a most the internet as they know it could cease to exis. well disney company has sealed a takeover of the entertainment assets owned by twenty first century fox. including a film studio and its stake in the streaming service hulu. until is worth sixty six billion dollars total in stocks and in debt. disney ceo bob eiger has agreed to extend his tenure usually short integration goes smoothly frozen on explains. one of america's biggest for studios is switching hands in a blockbuster deal. twenty first century foreign film studio is one of the assets disney will buy from fox if the deal is cleared by regulators. with its and for some of fifty two billion dollars in stock disney will take over fawkes studios tv stations of iraq's. i fake cable networks of thirty nine percent stake in sky the pan european broadcaster and the

and granted people you know complained about the studies because they were funded by you know the i s p'sbut this interesting. point more money let's see what money can do here scott you know i mean. i looked at. something that is unnecessary to charge for who you are dissenting again on the program go ahead. listen when i before he became you know involved with the f.c.c. he was based anti net neutrality back in twenty fifteen and it was a group made up of the smaller piece you're not really getting the end of the stuff so much from the big dogs you know because they're the ones that are a profit up by this type of you know all overlapping unnecessary legislation or or rule regulation rather they only really hurts their competitors you know so it may be if they have to go through a couple extra hoops they don't mind doing it because they can afford to do it is so long as it crushes their competition and they never have to worry about not being on top and that's the issue here ok well scott i mean i again i mean we're kind of looking at it from different points of view here because i see

remember besting trillions of dollars into their services if the net neutrality rules a scrap though i s p e's would then be free to charge a premium to prioritise certain apps and services with many in the us taking to the streets to protest we got some reaction to the plan. ok five k. you see what do i know you know you say i can't you see you really that's the big problem here it's these giant p.c. to think that they have they should have all the advantage and all the decisions to make about what should be. ok and did you see what we want then you for me to important part of democracy to have equal communication equal access to communication not just let the privileged and the super rich have every advantage in a so called democracy this is going to show that a lot of small business is small website and prevents small voices heard and read me from here in the small voice of net neutrality would be nothing less than a declaration of war against free speech in this country it's a corporate power grab it's an attempt by giant telecommunications corporations to be able to pick and choose wh

from investing trillions of dollars in their services a no with net neutrality regulations goldman i s p s will be free to charge a premium to prioritize certain services breaking down what happened earlier see your account well the f.c.c. is latest decision will repeal obama's regulations that were passed in twenty fifteen and as expected the vote was three to two along party lines with republicans voting in favor of the deregulation order and democrats voting against it but one democratic commissioner who voted against the order made her feelings known and had some very fierce for marks for the committee to say the very least i dissent from this rash decision to roll back net neutrality rules i dissent from the corrupt process that has brought us to this point as a result of today's misguided action our broadband providers will get extraordinary new powers. they will have the power to block websites the power to throttle services and the power to censor online content now our broadband providers will tell you they will never do these things they say just trust us. but know this they ha

websites from investing trillions of dollars in their services if the net neutrality rules are scrapped i s p's would then be free to charge a premium to prioritize certain ups and services well hundreds of people have been gathering outside the f.c.c. headquarters in washington d.c. to protest today's vote which cold spell the end for equal rights on line some here account as the latest from there. protests have been raging on all week and they actually camped out here last night so you can imagine how dedicated they are to sleep here in the cold but they say that they seek to protect their digital civil rights and ensure equal access to the internet but these online democracy defenders are actually not without allies that keep ellison spoke today representative of minnesota and maxine waters who is known as the resistance she also spoke against repealing the net neutrality but i actually spoke to protesters about this yesterday so let's see what they had to say hey i can't you see everybody you drive really that's the big problem here it's these giant p.c. to think that they have they should

and even block competitors so what is net neutrality at the moment internet service providers or i s p's must treat data online the same so a web site loads at the same speed regardless of whether it's google or a local flower shop without net neutrality i asked piece could block or slow down content on one website in favor of another website because of net neutrality worry changes could mean big corporations could pay for their content to be prioritised all pushing small internet play is out of the arena well let's get more from the gallagher who is live for us in washington d.c. and what is the latest with this votes. well the vote was temporarily put on the whole there was some kind of security issue in the f.c.c. building behind me we now believe that that has resumed but as you were saying there is a lot at stake here we talk about access to the internet these days as a basic human right and this is an incredibly unpopular move by the f.c.c. because it looks almost certain they will vote to get rid of net neutrality something like eighty three percent of the american public are agai

concerned i decided to go completely into cash, although you recommended differently, i couldn't pass the sleep test s&p another 14%, question is when and how do you think i should start reinvesting cash back into the s&p 500 also in trading account i have substantial position in sirius satellite, should i continue to hold thanks again >> i like sirius satellite and discovery. you got to buy something next week all right? maybe -- let's say 15% back, every day buy some then wait. let it come down if it doesn't, go back and buy again. don't buy in the first week unless it's down a lot this is really important you cannot, cannot, cannot wait for a big decline to start investing. you got to start now got way too little exposure and not going to make enough cash. once you get up to 30%, 40%, wait for pull-back yeah it's that good of a market want cash but not that much. janet in wyoming. >> caller: hi. a lot of retirees like me depend on dividends from real estate development trusts for food on the table and lot have dates clustered in a week. for past two days prices have been dropping. could be because of

you get to be along for the ride in a responsible way owning an index fund i'm paragraphs to the s&p 500 and i like a fund that gifves yo a total return and often found in various fund houses if you aren't all for one, of course, go to the s&p 500. once again for those who don't get it, my bottom line, this show has changed over time where we pick stocks for you to where we educate you about stocks. one problem we know you like stock, too, or you wouldn't be watching when we come back we'll tell you why to bother in individual stocks at all, while we profess such undying love these days for index funds as the first way to go larry in massachusetts, larry. >> caller: jim, i know i mentioned it before, i want to tell you how much your nightly focus lessons remind me of roosevelt's fireside chats >> president roosevelt was such a great man. larry, thank you my mom says, sometimes just say thank you. >> caller: we need you. >> thank you >> caller: when does an investment turn into a trade, we don't chase a stock or accumulate too many stocks to monitor. when do we unload a small position gotten ou

s. i p t twenty i don't think. toes and i make. them tell the famous potato. everybody welcome to your remarks will be traveling all over the continent today and as always.

s&p? michael: i think that most stocks, especially u.s. stocks, are very expensive and i think emerging markets are cheaper in general. i think most sectors in the u.s. are expensive, as well as bonds. there are some commodities that are attractive because you can, you see the fundamental supply and demand balance improving, something like gold has been under threat from bitcoin, and the strengthening dollar, we saw the dollar weaken over the past few weeks, and now gold has some life breathing the two it -- into it. i think the biggest risk is paying bad prices for extensive assets. joe: is there a scenario where this result in mediocre performance, or will this result in a severe correction, likely have not seen in a while? ishael: my concern right now asset prices for stocks and bonds are so inflated and conditions are so easy, they have ignored the fed tightening, that the biggest risk for the u.s. economy is a big financial asset correction. if we continue to move a long as we have, even if you have multiple compression just any gener

s&p sector eck. muted day on the s&p on a big day in d.c. for taxes. more "halftime" after this see that's funny, i thought you traded options. i'm not really a wall street guy. what's the hesitation? eh, it just feels too complicated, you know? well sure, at first, but jj can help you with that. jj, will you break it down for this gentleman? hey, ian. you know, at td ameritrade, we can walk you through your options trades step by step until you're comfortable. i could be up for that. that's taking options trading from wall st. to main st. hey guys, wanna play some pool? eh, i'm not really a pool guy. what's the hesitation? it's just complicated. step-by-step options trading support from td ameritrade >>> financials this year getting more bullish on that sector today. he raises his price target on every name within his list except for one so, he raises and let's talk big, global banks. bank of america, goldman and morgan stanley is it time to be more bullish on the bank stock >> i think for any of us to be more bullish than we are on the banks right here, interest rates are back up, too, as the fut

important than my baby's well being how do i know how to make the right decision. starting to seminar on on d w. s. i p t twenty gave a cutoff and. toes and i make us all feel i'm telling the famous potato. greetings from the german capital once again.

as i say, i like the s&p 500. it has gained 18% in the first 11 months of donald trump's time in office. almost a straight line all the way up. now, this is the moment in which i remind you that the stock market under donald trump has performed well. it is continuing -- this is the trump part. it is continuing an upward trend that started on march 9th of 2009. either way, trump has presided over a fantastic market. but other global markets are doing just as well. and they don't have a president trump leading their countries. let's take a look. this is the s&p 500 here in the united states. here's the nikkei 225 in japan. it's actually up more than the s&p 500 is. hong kong, the hang seng is up even more. this is the dax in germany. it's up 12%. still almost double what you'd get in an average year. no donald trump at the helm. there's upheaval in germany. i don't know. trump also likes to claim that as president, no other president has seen as big an upswing as he has in their first year. again, simply not true. in

now there's incremental uncertainty about that the downside each 1% is 26 s&p i wouldn't be surprisedf you get a 50 or 60 handle move in the s&p on disappointment, especially if there's uncertainty going into the weekend. >> that's not look out below that's giving back some of yesterday's gains. >> would be the beginning of a move lower i wouldn't be surprised if we move 2% to 5% lower. hedge funds, which so far, whether it's global macro or long short are underperforming benchmarks since mid-september the s&p has been up 69% of the time. since 1950, the historical average is 54% of the time that 15 percentage point difference is significant. most of these gains on the upside are larger in magnitude than the declines on the down side so when hedge funds at the end of the year now, as they go to preserve capital, if the market begins to decline, they'll pull back more aggressively and if the market is advancing, they will increase exposure more >> people are sitting at home saying i missed this if i have not bought into this i missed a big rally this week alone. would you tell people t

thank you thank you very much to do that half of that up from at the i. p. s. e. thanks for joining us. so why is it jerusalem so sensitive well apart from being home to the holiest site in judaism the second hardest in islam and the third hardest in. yeah i see it is a because s a sacred site fuji's cracking solomon is set to have built the fast jewish temple. fat and russia's khan and pray at the western wall at the foot of the hill. it's also the third holiest sites the muslims as it houses the al aqsa mosque. even lost gentry the temple mount has been at the heart of israeli palestinian tensions. after the nineteen forty eight arab israeli war jerusalem was divided into two with less than half place under israeli control and east and hough including the old city under jordanian rule. but the six day war in nineteen sixty seven changed the landscape. israel sees gaza and the sinai peninsula from egypt the west bank from jordan another the heights from syria. while israel pulled out of sinai and make peace with egypt and jordan it they crown ex east jerusalem al

. >> i mean, if only 20% to 40% is priced in now, he obviously leaves the door wide open for a much higher s&p. >> well, we're seeing earnings going up, but the question i would have asked him is how much multiple expansion from the s&p versus earnings growth earnings growth has been there, unquestioned the economic data didn't speak good i think that the misperception here in terms of going forward is what companies do when they repatriate dollars, because they have had great cash balances in the u.s., and what have they chosen to do they have chosen to buy back stock, so all of a sudden at this point in the cycle to go out and pick up cap "x," i think you've got to watch out for in a. >> so goldman, right, over the weekend says growth is only going to get a .3 of 1% bump in '18 and '19 on the tax plan, exactly what you're alluding to. >> exactly what i'm saying, and i know i'll be paying more taxes. there's no tax cut for me in this bill. there's tax increase, and you've got to look at how tim packets those with high state and local taxes and what happens to those states and those are big st

a s. i p t twenty gave the don't thing.ells them to and i make a few of them tell of the famous potato. the state of the news coming to you live from berlin in israel.

t-i-p-s. iain. >> good advice, bruce.hank you. >> a person from china has been arrested on prostitution charges in gloucester counsel team arrest stems from search warrant executed at the blue sky day spa on the 5500 block of route 42 in washington township. being charged with promoting prostitution. the township washington township investigative bureau along with homeland security and u.s. immigration shut that business down. no word yet on any other charg charges. >>> philadelphia is one of more than 200 applicants waiting to hear if it has won the bid for amazon new headquarters city council wants to know more. council members heard testimony about the proposal basically these are strategies that could help lure in other businesses. council member derek green along with members of jim kenney's adminiration spoke about staying on brand throughout the proposal process. so amazon when is the big a announce many going to happen. sometime in 2018. >>> four nuns in the hospital recovering after car crash in delaware county,

i mean, the experts say maybe $6 on the s&p 500 that's another what, 5%. well, we've had that in response, so i'm -- i'm thinking it is going to be more difficult next year. i wouldn't even be surprised to see a correction next year which we haven't had for a while. >> let listen to a couple of very smart investors whom i spoke with late last week on their expected, professor, for 2018 because it sound like both of them differ with your perspective. let's listen and we can react on the other side. >> part of it is all the news has been positiving right, so when you take a look at the economy, the are economy is doing well, and everybody is taking that positive news and is continuing to buy equities, so, look, i think it can continue for another six months or a year becausering is good. >> i know we've had quite a big run, but i think we probably have another 10% to 15% ahead of us next year. >> the tax bill may give us a little bit more of a bump but it's still, i think, you can get double digit returns out of stocks. >> all right professor, for your benefi

even though i know they peeled back a little bit lately, emerging markets have, but over the balance of the year it's been an outperformance of the other markets to the s&pwhether it's places in europe or parts of the emerging market and you think that there's still value to be had? >> i think so. when you look at the valuation of the u.s. market darreltoda today relative to the gdp we're starting to approach the same levels back in 2007, back in 2000, so periods of time like that historically the forward returns have been pretty disappointing. our models show that over the next decade we would expect that u.s. stocks would return around 2% but if you look at emerging markets today, we're only about at the 50th percentile in valuation with gdp, so as an investor, which i have to remind people i'm not a trader, i'm an investor, somebody who's putting capital to work for five to ten years, that looks like a more interesting place to go. >> while you say you're a little more cautious, you still see potential double-digit upside for the s&p next year? >> right what that's based on is where we're sitting in the business cycle. when you look at the shape of th

i think you just use a put spread in the spy, the etf that tracks the s&p 500 i bought this spread when the spy was trading at 264 i bought the january 264 250 put spread i sold one of the january 250 puts at $1.30, that cost me $3, that breaks even at 261 and i can make $11 between 261 and 250. i like the risk/reward relationship of this trade option prices are pretty cheap, although they've ticked up a little bit this week i have a chart here, a one-year chart. one of the reasons i picked 250 for a pullback, we've not had a pullback of over 3% over the last year. look at where 250 is, the early october breakout that happens to intersect with the one year up trend. that will be a 5% peak to trough decline over the highs >> today's intraday pullback may have been one of the biggest pullbacks of the year. >> i like the strikes that you've chosen. something people need to be aware of is, the big question always is, when is the top of the market coming? i can't say for sure, but what i can tell you is you are going to see some symptoms that the end is near when volatility starts to creep u

. >> organically, i think s&p companies can generate operational earnings by about 7% -- for 2018.orporate tax reform take old next year, that could at six or seven dollars -- six dollars and seven dollars to earnings per share. i think the bottom line is that even with earnings growth slowing, it is still present. and with the other opportunity being 2.4% on a tenure treasury, trade, sure that that that there is no alternative trade, and has finished running its course. talking a lot -- we been talking a lot about the tech sector and the rotational's we have seen. you think if the tech that you think the tech sector will be higher next year? path forday think the technology is still likely higher. if you look at the tech sector today relative to just before the tech bubble, it is market cap and its controversial -- and its contribution is more balanced than was 15 years ago. and we have seen two back-to-back quarters of 3% growth. that's well above potential growth for the u.s. economy so, we do see growth not slow but just cooling off a little bit. and i think you could see the r

> yeah, but miner 10 to 15%, that's pretty big. >> i think it's reasonable -- i think it's reasonable to expect that the s&p 500 is going to be up next year now, that's nothing too insightful i think 15% is too much. and i think one of the things that you and i and you brought it up talked to lee cooperman yesterday about with john templeton phases of a bull market and you mentioned the euphoria phase you know, as i watch analysts now come out and try to top each other -- and they are, somebody comes out 3,000 today, next week somebody will come out 3,050 doesn't matter if it's the s&p 500 or an individual stock you know, amazon, we're watching people just continually set higher targets that is the early stages of euphoria now, i think that early stages -- early stages. >> steve, i think it continues into 2018. but, look, at this point how much more good news can you actually be surprised by i don't think anything, even an infrastructure spending bill would not surprise many people right now. what would surprise people is negative news, something like inflation which we see no sign of -- >> a lot of people

finally, i want to take a look into what might also be driving this commodities rally. this is g #btv 568. what you can see here is the s&p turn index relative to the s&p 500 near all-time lows, suggesting commodities might be chief -- to cheap. scarlett: let's check first word news. >> the measures aimed to cut steel imports while most 90% and expand previous restrictions on should -- shipping. south korea is on watch for a long-range missile attempt. the uss russia and north korea need to talk without preconditions. russia wants additional sanctions could pose bigger dangers to do that here in state of relations between the nations. france is scrambling to meet emmanuel macron's deadline to get migrants off the street. the government is tightening the screws, raising pressure on economic migrants and allowing divisive id checks in emergency shelters. the stop -- the tough stance has crossed a line tested by no other president. caughtpeople have been camping on sidewalks in paris over the last two years. the white christmas across most of the northeast and midwest was a prelude to bitter cold expected to last until the n

first time in history that for a calendar year every single month we had a positive return in the s&p. intum is the bills come in manufacturing is good, tax reform is the least that would give us positive results. lauren: speaking of the s&p, jpmorgan going to 3000 by the end of next year. >> yes, we agree with that 3000, possibly 3100. >> investors now should be focusing and going out of the stock they may have been invested in more and to value stocks particularly domestic stocks. >> i can agree with that appeared to run on growth of about 30% value stocks up about the team. the dow in the s&p in the 20th it does not run value when it is to normalize and run back. it wouldn't surprise me if that is cycling back into value stocks. i wouldn't discount that. they are still undervalued relative to the u.s. being diversified is that this is all about them having both of those are part of getting the most from your portfolio. lauren: lets talk about bitcoin, some of the words used to describe it. last week i had the cboe yesterday on the cme, your thoughts about bitcoin in general. >> we hav

i want to show you the s&p because 2647 was the old closing high as i recall on the s&p and right now we're at 2649. if we close here, we've got another new record close guys, back to you. >> bob, thanks very much weekly counts just out jackie de an lis is at the commodity desk >> the total now 751 that's up 253 from a year ago. it's the third week in a row that u.s. drillers are adding rigs with the price close to $60 a barrel but crude is still on track for a weekly loss. that's because u.s. production numbers now 9.7 billion barrels a day. pumping more that seems to be the trend here at least in the united states. >> all right thank you, jackie. >>> sage therapeutic shares higher once again today after optimism on a drug to treat depression we'll get a live report from california on the fires burning l aelnd now san diego areas. "power lunch" will be right back >>> take a check of the markets right now. higher across the board. boeing leading the way hitting another all-time high today. united health and home depot adding to gains. michael kors, l brands, and foot locker all higher

behind me we thought we would look back at some of the major indices for 2017 behind me is the s&p 500 up 20% i should tell you that the s&p 500 has seen 62 record closes for this year. that's tied for 1964 with the second most ever the record was 77 record closes in 1995. in terms of sectors that did very well this year, the number one performing sector was technology up 38% year to date consumer discretionary up 22%. on the down side, energy was down 3.4% and telecom is a sector that did struggle this year, down 5% but rebounded quite a bit in the last month. they have been one of the beneficiaries of the tax reform. let's switch to dow. the blue chip and dow is up 25%. also another interesting statistic on dow, half of its gains for the year came in the fourth quarter of this year. so in the last quarter of the year it was up 2,400 points versus 5,000 points for the year 70% of the record closes have happened in this quarter just so you can get some detail on some of the best performing stocks in dow jones, the best performing company is boeing up 90% for this year. caterpillar up 70% some o

500 should be higher than now. >> phony dwyer said 15 a half% jump s&p next year 15 1/2 percent. >> iot made a new high for a couple weeks here zailth i do think a pop, in new year when all analysts get back, january effect everything going higher we have to ask does lower tax rates mean better companies everyone loves bank stocks itch cautious on bank stocks this saying benefit mort in taxes deregulation i say nice hard to make money hard year goldman sachs had nothing do with overregulation tax rates. >> double-digit increase trying to get something out of you see? >> a level i don't know play that game i really i am very reflexive i say probably not double digits in realm of probability not a problem but, again, short term, piling in, thinking everything going to go exactly according to plan -- >> james with oil, we saw i will go over 60 yesterday, then sold back, i think what is interesting is that -- i to be the know what market i am in any more if you had a stronger dlal you had -- the opposite now, wow, what is happening, the he correlation between oil and dollar. defies lodge

if i'm not going to get 22% in the s&p 500, could i look at commodities?owth growing, should i look at taking advantage of that kind of position? >> i could see commodities gaining from being a dollar play. if we had a weaker dollar at some points or a dollar devaluation policy being pursued, yes. i think is part of the bigger picture, those ratios, stock prices, commodity prices, i think the ratios going to come back to be more likely through stock prices coming down rather than commodity prices surging. manus: please stay with us. ofndan brown is the head research at mufg securities. there is something that delivered a roller coaster ride in bitcoin. the gains, the losses, the vitriol. volatilitys solve hade the crypto currency extreme daily moves. they are doing their best to prove the haters long -- haters wrong. hear what some of the world's biggest minds have had to say about bitcoin. >> i'm very excited about bitcoin. >> it's a global phenomenon. >> it's a global coburg -- currency that is frictionless and a trusted third-party is not subject to the

s&p. guess where i have my money? in the s&p. go figure. spell it out on after the bell at 4:00 p.m. meanwhile here is trish regan. trish: happy new year. david: happy new year to you. trish: thank you so much. this is the last trading day of 2017. we've seen a record-setting-year on wall street. record after record after record. all because you have a new president with a very pro-growth agenda and wall street likes it. the dow up more than 25% on the year as it marchs towards 25,000. i am trish regan. welcome, everyone to "the intelligence report." president trump sitting down for impromptu interview in the dining room of his west palm beach golf club, blasting that the investigation puts country in bad position. he believes special counsel robert mueller will treat him fairly but when will this investigation end so we can finally move on? i am discussing that with wisconsin congressman sean duffy straight ahead. >>> new york governor andrew cuomo that the tax bill put a dagger in the heart of new york and california that republicans are pillaging high taxed blue states to pay for

i get there. for the last six months i've said my 2,800 target for the s&p is too low because you had to implement the tax cuts but without a corporate tax rate, i have no idea what that is. so 21%, that adds 9% to the s&p earnings i'm at 140 for this year, was at 140 so now i'm up to 155 the market is trading at a 20 multiple why should that change so i'm assuming a 20 multiple. i'm too low for both, the multiple and the earnings. >> the 3,000 club is growing, seemingly by the day you get credit suisse bumping their target up. you had a couple of places yesterday doing the same thing and 3,000 is right around the highest number now that tony is a little above that. does that make sense >> well, it makes sense to be positive about the economy because we just got this big tax cut. what concerns me is when you get the consensus all moving up together and we're in a business where the consensus is often wrong. >> the herd mentality worries you. >> we worry about that i think the idea that a 20 multiple is here to stay is something that we could question if we talk about interest rates or inflation. >

phil, i want to show you the s&p 500, you're familiar with this, since 2009.hat's during the recession. let's go to the one that goes all the way from 2009 where you see the stock market going up since then -- well, maybe we don't have that, but you know the point. there we go. that red point at the end is donald trump's contribution to this. this has been a relatively straight move up in this market for a long time. i think president's take too much credit and get too much blame for stock markets, but he is owning this one like no one i've ever seen. >> if you look at his approval ratings, his approval ratings started low, have dropped since the beginning of his presidency. the dow is something he can point to on a day by day basis, it's going up. >> and he would talk about low unemployment, the same way, numbers and all that. and now he touts it. >> that's exactly right. theretwo key things i discovered when i looking at this today. the first is number one, international indexies have also seen increases which suggest that the japanese economy and german eco

times weights. >> i'm not had a huge fan but when you look at the dow and s&p over 20 years plus they end up in the same place anyway ion't love the weight it or select components, but it kind of works. >> our right that the dow and s&p almost end up because we've done that study almost in the same place because they have two very, very different sharp ratios. >> ess, essix and to read more about the essential 40 index head to cnbc.com/halftime and we said that the mutual fund is licensed by kkm financial net run by the cnbc contributor jeff kilberg. we love kilberg. >> pete najarian, we're tracking bullish activity in one bank stock up nearly 20% in three months that's up next and snap shares are on an upgrade and we'll debate that that coming up and we'll get mark fisher's energy outlook. somewhere oil going next year? he'll tell us next see that's funny, i thought you traded options. i'm not really a wall street guy. what's the hesitation? eh, it just feels too complicated, you know? well sure, at first, but jj can help you with that. jj, will you break it down for this gentleman? hey, ian. you know, at td ameritra

i have three things to make a comparison s&p in blue. boeing and johnson & johnson, going back to 1990 now, let me put in potash to make a point blows them away. as bad as it's been, we know it peaked way up here, long term it's delivered results three and four times the market and better by doubles and triples to great names like boeing and j&j. now, here is the ten-year spread this is pretty optically clear you're talking about an s&p that's done this so it's got an issue the question is, watch this, this basing, where is this occurring? next chart this basing is happening almost precisely at its financial crisis low that is a critical thing, meaning it found a reference point and for the last two or three years has been putting on a fight. let's drill down in and move closer to this period here it's also not only just at the lows we've started to break above the down trend line in effect since the stock was up at 78 keep going here is the base now, that is very developmental. it's not impetuous, meaning it's not a v. v's typically fai

s&p 500. the russell 2 or the s&p 500 mid caps, they're 32%, 33% taxpayers on balance so that move down by 10% is significant. ion't think that's priced into either index more favorable to the russell 2 and the s&p mids i think that getting this behind us and focusing on other things is a positive. there's other things that are positive in the economy now. unfortunately they'll take a back seat to the progress on tax reform and until we start focusing on that >> stocks up nicely this week. we've seen yields tick up over the last couple of days or so, including the long end how encouraging is that relative to the trend of the prior month? >> it's very encouraging it's interesting on a day where the dow is making a new high, up 200 and change, to me the more important move is the yield on the ten-year moved above 2.4 and the spread on the two tens broaden out for the first time in a couple weeks those moves are very important we need to see more an upward adjustment to the ten-year the fed said they will be gradual but go in december a broadening out of that spread is important to the progress this market makes i

take a look at s&p 500 futures. ik about apple because we did have apple, chinese suppliers saying they are showing no sign of iphone x order cuts. there was concern over the popularity and demand for that iphone. curde -- crude oil, surging past $59. we saw a pipeline blast in libya. $59.53 is the trade on oil. nejra: i know you showed oil there, and we talked about copper rising. this is a really cool chart. it's showing the s&p gsci total return index versus the s&p 500. it's showing the commodity prices on this measure, falling to an all-time low relative to stop prices. packetsident of presidential advisers highlighted this. that's my chart. let's talk about another asset that has been rattling through 2017. the bitcoin bounceback. it appears to have paused slightly today as the biggest digital currency drops below $16,000. a comes after it staged a recovery following a five day slump. hydrating volumes at coin base forced the company to issue a warning on its website that transactions might be delayed by several

if i sell a couple of stocks in jer and end up with 10% cash and let's say i sit on that for six month and the s&p funded rallies of 8% in the first six months of the year, i've given up 80 basis points my career is not at ring am i going to take a lot of grief from clients sure they are going to say why are you sitting on 10% cash? >> the rest will do a very, very simple question if not point of view or combination of both. you just got a potentially game-changing tax bill signed into law, the first time this level of tax reform or tax cuts have been done in a generation how is that going to be anything but positive for the stock market >> because the stock market doesn't wake up on january 1st and say -- >> how is it priced in if you are saying earnings estimates are two low. >> 200 basis points in multiple expansion since the economy. >> let's say the s&p earns $150 a share. >> hold on a second. you've made the argument consistently for month after month after month that tax reform was not priced into the market. >> and i was dead right. look at the rally after they actually went >> if it's not

s&p up 26 points. look at the nasdaq, climbed another point since i said it was up 85 and now 86. beaten down names in the sports world scoring today after getting some much welcomed upgrades, under armour and foot locker, among leaders in the s&p 500. price target of 17. it's at 15.13 charging ahead by 9 and a half percent. this while upping foot locker, $64, it has been 42, right now foot locker is at 45.96. the two are really big winners right now. up next the fight against the dark side rages on as star wars, the last jedi opens at theaters nationwide. disney is shooting for the stars with it's intergal attic that could be hitting to the charts of all time. guard, guard get him. no, it's not dark veder. isn't he dead? it's mike tam troa just leaving a viewing of the movie. there he is. he's got a full recap minus the spoilers. no spoilers tamara, he's coming into the studio right now. countdown coming right back. ♪ ♪ think your large cap equity fund has exposure to energy infrastructure mlps? think again. it's time to shake up your lineup. the alerian mlp etf can diversify you

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i wonder if those dynamics start to change between not just a tax bill but also if we get more of an increase in interest rates. we have seen correlations go down for stocks in the s&pe see a shift between growth and value? settle out ono we gdp? if gdp is 3% or more there is a chance value does better than growth. keepsise, i think growth the momentum and has a good 2018. vonnie: where do you anticipate yields will go and how flat will the curve get? .ames: rates have to go higher there is no reason they should be this low, but to be fair, along end of the curve is dragged down by european and asian rates. until they start to move, at least another 18 months to two years, the curve gets a heck of a lot flatter. vonnie: it could go to zero? james: it could go perfectly flat. i do not think that is a negative for the economy because it is not indicative of what our economy is doing. julie: i want to get to some of your holdings that you have in your fund, because you have narrowly underperformed the s&p this year. it looks like celgene is one of the culprits. most of your top 10 holdings have done quite well. to rotate out you of something when you see that kind of p

the robot was vandalized and the s-p-c-a started getting threats over it. he robot is a threat i thought improve security and it just reminded me of r2-d2 so i always thought it was cute to have i don't see why it would be considered a threat>( james ) the s-p-c-a says they were using the robot to curb crime... not disrupt the homeless. ( james ) still ahead on the kron 4 morning news... a warning for people who use a popular dating app. how the app was used to setup a robbery. ( james ) and after the break... more than 100 million people expected to travel for the holidays. we have tips from the t-s-a to make your travel a little bit easier. ( rebecca ) and i am tracking your bay area forecast. wb 80 is ajmmed from the maze no major hot spots. bay bridge wb 80 is less then 30 min from the maze to sf. san mateo bridge less then 30 min from 880 to 101. golden gat bridge drive time less than 30 min from 37 to the toll plaza. richmond bridge drive less than 20 min from the toll to 101 ( james ) more than 100 million people are expected to travel for the upcomin