trample named jay clayton to the post.as a partner is sold by matt worked on the ipo alibaba in 2014. we are keeping a keen eye on shares of tesla. the stock down 2% in extended trading. the carmaker said it did mrs. sales goal last year. it then production problems. the sealed the rest of the market is doing this wednesday morning. second trading day of the new year. dow futures are higher by 30.2 we still have 120 left to go. some of the headline at is today's edition of "the wall street journal." corporate earnings this year expected to send stop prices higher. donald trump's election also coincides with the improvement in corporate america's returned to earnings growth. fidelity embracing would've once avoided. exchange traded funds. abigail johnson has resisted et because of the potential cost of that profit the changes in the industry have forced her to rethink that strategy. finally, companies suffer when they ignore their older employees. that is according to a news daddy at workplaces that are less friendly to the

tell us about jay clayton. what do we know about him? >> jay clayton is a classic wall street lawyer, mergers and acquisitions. that will come up in confirmation hearings because donald trump in the campaign talked about going after the corrupt establishment, specifically signaled out goldman sachs. and he's had several people, including mnuchin, several people with ties to goldman sachs. gary cohen. but jay this clayton is clearly prepared for the job. he is somebody who doesn't have the same prosecutorial that there was now. so maybe less of an emphasis on enforcement, given anderson option. dru donald trump has two seats to fill. >> an update on the tweet from mr. trump, regarding the intelligence community. >> tyler, this is a potentially dangerous rift between president-elect and the u.s. intelligence community which is coming up here friday on brief him on the russian election hack. in the tweet last night, he mocked the intelligence that they had collected. suggested that they push the briefing until friday to get their stories st

ben, what do we know about jay clayton? ls has he been involved in during his time at sullivan and cromwell? >> one of the things president-elect donald trump did mention, indeed some of the firms that mr. clayton represented, most notably goldman sachs, and among others, we had oaktree capital group -- it's interesting. whoave clearly a lawyer , and oftenities lost representing some of the clients , some of the firms that are regulated by the sec. it's creating an interesting dynamic. he wouldn't be the first layer to come from the side of representing a lot of the investment firms and banks that of,sec has some oversight but after the president-elect spend his campaign at times rallying against wall street, it is certainly a choice that a lot of people will be watching to see how this ultimately plays out. vonnie: what in terms of hedge funds has he been dealing with? we know he has a background on several deals? >> sure. to --ld certainly point oaktree capital, two of his clients, even his firm mentions billboards on thei

clayton toinate jay head the sec. clayton has represented financial firms throughout his career, including goldman sachs during the 2008 bailout. trump has attacked his opponents for their ties to goldman and other wall street banks. will the perceived influence of goldman sachs on the incoming administration spark a demonstration at the bank's new york headquarters. about 40 protesters unfurled banners in the lobby before being ejected. they criticized goldman's role in the u.s. housing crisis and a history of former executive taking senior posts in government. they vowed to demonstrate again on january 17. the former head of the u.k.'s financial regulator has issued a rebuke to president elect donald

i don't annoy ton about jay clayton. there is not a ton out there.omments i've seen, he does not come across as an ideologue. i think we could probably give him the benefit of the doubt at this point that he will be fair. but you are right. david: that is a good rule in general, giving benefit of the doubt. dakin campbell reporting. with us now is professor joseph grundfest. kkr.ns the committee for he was an sec commissioner appointed by president ronald reagan. professor, think you for being here. >> good morning, it is a pleasure to be with you. david: a lot of what we hear about the president-elect is deregulation. he is carl icahn in there to force that. what does it mean for the sec to deregulate? questions a darn good and the short answer is we don't know yet. it can occur through a variety of different mechanisms. one path is to have congress change the laws pertinent to which the sec operates. changing thebe laws by which the commission has adopted. david: how much authority does the chair of the sec have? it is a five-member board when it i

aol's ceo tim armstrong at 16:20 cet. >>> president-elect trump will nominate wall street lawyer jay clayton as chairman of the securities and exchange commission. clayton most recently worked on the alibaba ipo. analysts believe the pick signals trump's intention to reduce regulations. >>> former indiana senator dan coates is the leading candidate to serve as director of national intelligence in the trump administration. this according to a report from nbc news. coates served 12 years in the senate and eight years in the house of representatives. he was also ambassador to germany under president bush. >>> and the president-elect continues to cast doubt from u.s. intelligence agencies that russia interfered in the itself election. cynthia mcfadden has more. >> reporter: today, vice president-elect mike pence weighing in on what seems to be growing distrust between donald trump and the intelligence community he will soon lead. >> i think, given some of the intelligence failures of recent years, president-elect has made it clear to the american people that he's skeptical about conclusions from

donald trump has picked jay clayton as his pick to head the sec.have a statement from the transition team and the comment to thank president-elect trump for the opportunity to serve. to make sure we provide investors and company's with the confident -- confidence to invest in america again. can educated you and nominated as the next head of the sec to succeed marriage a light. we are awaiting a news conference from congressional democratic leaders. this is bloomberg. ♪ three minutes left today in the trading day in europe right i am mark barton. vonnie: i'm vonnie quinn. this is the european close on "bloomberg markets." ♪ we will take you from washington to london and cover stories out of russia, rank for it, and china. eurozone economic data showing a record increase in germany's inflation rate, the data across the region accelerating. we will do get into it and tell you what it reveals about the ecb stimulus plan. vonnie: president-elect mike prince says the first order of business for donald trump is to repeal and replace obamacare. we are awai

: president-elect trump tweeting about everything from obama care the job creation while naming jay clayton to head the secretary . >>> california's new senator announced her first piece of legislation aimed at helping protect undocumented immigrants. she tweeted she is cosponsoring legislation to keep 744,000 dreamers from being deported. the dream act was signed back in 2012 and allows people brought to the united states as children to obtain work permits. many of them say they are now fearful they will be forced to leave the country. >>> california lawmakers appear to be gearing up for a legal battle with the trump administration and have hired eric holder to represent the state. >>reporter: today, a new chapter in the series california versus president- elect donald trunp. >> this is something concrete and not symbolic. >>reporter: the move is the hiring of eric holder who served as us attorney general under president obama. >> i think having more legal minds is a better thing. >>reporter: the assembly speaker and kevin daly on say that holder will be critical in fighting the future adm

he will nominate jay clayton to have the sec. clayton has represented financial firms throughout his career. trump has previously attacked his opponents for their ties to goldman and other wall street banks. the influence of goldman sachs on the incoming administration sparked demonstrations at the bank's headquarters. intesters unfurled banners the lobby before being ejected. vowed to demonstrate again on january 17. u.k. businesses will have no choice but to raise prices as the week pound continues to force up the cost of imports. that is according to the british chamber of commerce. >> there a huge amount of diversity of views in the business community. that continues now. business and the u.k. as a whole would be better served inside the single market. there are also those who believe they would be better outside the single market. that hasn't changed simply because the referendum vote has happened. businesses are evaluating those possibilities. sebastian: china's efforts to choke capital outflows are beginning to pay off. th

if confirmed jay clayton will head the independent agency that oversees wall street and the markets. the company called off discussions in brazil, argentina, and india. mr. trump has pledged to do no new deals while president and leave management of his company to his sons. >>> and mr. trump appointed former "apprentice" consultant to his staff. she took an active role and will have a public engagement role in the trump administration. >>> ahead on "cbs this morning," we'll talk with tom heilmann about mr. trump's battles with the intelligence community. >>> and now looking to the weather where a series of storms pounding the west coast are reportedly blamed for at least one death in oregon. the weather system is bringing heavy snow measured in feet at higher elevations and flooding to parts of california, oregon, and washington. much of the rest of the country is dealing with bitterly cold temperatures. in california near the foothills near sacramento, the wet weather pushed a tree into a house slicing it in half. >> i hear him screaming get out of the house, get out of the house an

jay clayton represented goldman sachs, among other clients.nevertheless, he has the kind of background that is typical for an sec chairman. different from mary jo white, a former prosecutor, who is there now. she has put a lot of effort on enforcement. the incoming trump administration has talked about reducing regulation, you can expect a different tack. the question will be, is he -- while reducing regulation will he still protect investors. we'll have to see. unless on the other two vacancies donald trump will be able to fill. >> i asked dan gallagher what he thought about the pick. he said he's the real deal, smart, incredibly hard-working and very savvy. it's another position we are learning about today. meanwhile, treasury secretary designate steve mnuchin may have a are you ever road ahead after a memo emerged about a bank he once ran. >> i think steve mnuchin also will be confirmed in the end. he is going to take flak for a similar reason that jay clayton will. that is to say, he is a former goldman sachs executive. donald trump ran ab

>> president-elect trump tweeting obamacare to job creation while naming jay clayton a wall street attorney scc. in washington, joel waldman, fox news. >>> new at 11:00. macy's says it is eliminating more than 10,000 jobs. the moves are estimated to save $550 million annually. the closures were announced last august. one of the stores to close that landmark mall in alexandria. it's been open since 1965. >>> we warned you now you might want to keep an eye on your significant other next monday. glee den sees the most traffic on the second monday after christmas. january 9th. there are a few reasons why some people look for affairs after new year. holiday stress, number two family fights disturbingly enough new year resolution >> trying to burn off clears, i guess? >> much better ways to do that >> just being cheek? >> knowing the forecast getting all silly. we'll talk about that and doesn't look like a lot. as we know because we lived through many, doesn't take much >> it's the timing >> it's about the friday morning commute and i would not be shocked if parts of thursday evening commute are

jay clayton is noted for his expertise in public and private mergers and public offerings. >> stewartcy's announced today its cutting more than 10,000 jobs and going ahead with plans to close 68 stores. and on wall street, retailers helped lead the way higher. the dow jones industrial average gained 60 points to close at 19,942. the nasdaq rose almost 48 points, and the s&p 500 added nearly 13. >> woodruff: still to come on the newshour: part two of my discussion with the c.i.a. director-- we talk about the president-elect's distrust of the intelligence community; boys taken from isis-held areas, never to be heard from again; and much more. >> woodruff: we return to my conversation with c.i.a. director john brennan. last night, we focused largely on allegations of russian hacking of u.s. political operations during the election, and the war in syria. tonight, we begin with concerns raised by european intelligence officials about possible russian intrusion in upcoming elections there, and whether he believes the u.s. is facing a new cold war with russia. >> well, i certainly hope not,

firing back saying there has been no delay whatsoever, and trump will name wall street lawyer, jay clayton, to head the exchanges commission early today. and we now have word that trump's election rival, hillary clinton will be on hand for his inauguration attending the ceremony alongside husband and former president, bill clinton. it will make their first face-to-face meeting with trump since the last debate. and george h.w. bush and barbara will not be able to make the event. >>> now to the video triggering chaos on social media. there are questions leading up to the incident and an investigation is under way. kerry sanders has the details. >> reporter: posted by a high school student to twitter with the title this is not okay, a uniformed resource officer new mexico north carolina tosses a student to the ground. that video lasts only nine seconds, and just as that video is going viral a longer video is posted on line, and it was before the officer body slammed the student to the floor. the mayor of roseville saying the school resource officer involved in thes in tkepblt is on paid admin

jay clayton is an expert in public stock launches. transition team as sec chair, he would encourage investment and provide oversight of wall >>> trump hired a political advisor dismissed by chris christie in the wake of the bridge gate case. he will be trump's deputy assistant and political director. he was not charged in the lane closing skajtsding scandal. >>> a blast of frigid air is spreading across the northern half of the country and it's causing temperatures plummeting. north dakota is one of the most bone chilling spots. temperatures there won't reach above zero until friday. heavy snow triggered a multivehicle crash in pennsylvania. nobody there was seriously injured. and in the west wind and rain and lower elevations with the snow in the mountains making travel virtually impossible. some state highways in california, oregon and nevada are closed. >>> in chicago police arrested four people following a live stream video that allegedly shows the suspects torturing a we have blurred the video. we'll show you a small portion but

meanwhile, nbc news learned trump will name lawyer jay clayton to head the securities and exchange commission as early as today. that's as a memorable contestant from the apprentice is set to join the staff, focusing on public engagement, according to the associated press. >> we have word that hillary clinton will be on hand for his inauguration attending the january 20th ceremony with bill clinton. it will mark clinton's first face-to-face with trump since their third and final presidential debate. george w. bush, jimmy carter will is be in a tendency, george h.w. and bhaarbara not able to attend. >> an officer seem slamming a female student to the ground as other students look on. they're are questions about the events leading up to the incident. carrie sanders has the details. >> to twitter with the title this is not okay, a uniformed resource officer in north carolina hoists a student in the air and to says haddsses her to ground. as that video was going viral another longer video posted online. it appears to have been recorded before he body slammed the female student. that appears to sh

the presidenelect chose wall street insider jay clayton today to head the securities and exchange commission. the s.e.c. regulates the financial industry. mr. trump has made clear he wants the ease regulations on american businesses. and do you remember this? >> you know, i've always been a big omarosa fan, but omarosa, you're fired. >> elliott: that was one of three times that mr. trump fired omarosa manigault on "the apprentice." well, today he hired her to be director of communications in the office of public liaison. and there is pushback against mr. trump's choice for attorney general. six arrests were made last night when protestors from the naacp staged a sessions' senate office in alabama. they've blasted his record on civil rights and voting rights enforcement. more now from david begnaud. >> the protesters said they were taking a stand by sitting down. >> they refused to leave senator jeff sessions mobile, alabama, office. this is what they got. six protesters were arrested last night. one of them was bernard simelton, president of the alabama naacp state conference. you were handc

. >> donald trump taking -- in a statement the president-elect said jay clayton is a talented expertn many aspects of regulatory law and will ensure financial institutions can thrive and create jobs while playing by the rules. donald trump picked the ultimate insider as his next sec chief. >> there is no doubt he has bona fide's representing the biggest players. you were talking about someone decade spent well over a representing the firms that ultimately are under the regulatory oversight of the sec which he may not share. >> the battle over the affordable care act is underway. today mike pence promised an orderly transition away from the health care law as he criticized obama care. >> the american people have sent new leadership because obamacare has failed. a lot of these things are a regulation, not a statute. >> i believe health care will be better and less expensive when obamacare is gone. that is what we have to focus on. eating rid of this law and putting in a concept that is patient and doctor centered. don't want to lose the benefits of the affordable care act. we've seen t

to nomination of jay clayton head the sec has sparked criticism. the former head of the u.k. approach to regulation is more important here. >> clearly donald trump have , having campaigned as an anti-wall street, anti-d.c., drain the swamp type of campaigner, he is a complete inside her. ishave always known that he an insider and establishment figure. there is nothing necessarily wrong with that. sometimes you do need the fox to en coup, buth the main thing will be what would be the approach to regulation. in after then put financial crisis was higher capital requirements, so that is where it is crucial that there is no undermining of that. those major sets of reforms enacted through dodd-frank, but agreed internationally, i think they have made the global financial system safer than it was, so that is the crucial thing, to make sure there is no backsliding from that. >> do you believe there will be? president trump has campaigned on completely dismantling dodd-frank. do you think things like the capital requirements will be rolled back? >> i don't know. how does one know wha

. >>> president elect trump making more administration announcements naming jay clayton as chairman of the ccc, he defended big banks in crisis. he is an expert on regulatory law and ensure our financial institutions can thrive and create jobs by playing by the rules at the same time. christina ale sshi with with me. tell me more. who is he? >> it's really interesting to see donald trump blasting wall street throughout the campaign tr trail saying the hedge-funders get away with murder and now plucking these to fill his administration. he's interesting because though he doesn't work for a bank, he works for the go to law firm of wall street and his boss is sort of like a legend in terms of the lawyers that wall street turns to. personally clayton has represented goldman saks in a sum of issues, another one was when warren buffet decided to invest in goldman saks, he advised in that traction and also works for them. and we have steve ma musimusioay colm, an economic advisor will be helping trump run the government. >> he says he will help create jobs, true? >> it an interesting argument

jay clayton is a expert. he will ensure that our financial expectations -- institutions can thrive.unds like, some think the ultimate wall street insider as chief.chief -- sec >> some of the biggest players have done some ipo work for the biggest deals ever. alibaba for example. you're talking about someone who has spent well over a decade representing some of the firms that are ultimately under the regulatory oversight of the sec. the battle over the fate of the affordable care act is underway. the opening salvo is taking place on capitol hill. penceaker and mike promised a orderly transition from the health care law. he roundly criticized obamacare. pence: obamacare has failed. brought -- mike pence brought a little news today. he said that does not intend to -- intense -- the president intends to use executive action. a lot of these things are in regulation. health there will be better and less expensive when obamacare is gone. that is what we have to focus on. getting rate of his law and putting in place a model and a -- ept in principle that that is what we will do. we saw the

. >>> well, the president-elect chose wall street insider jay clayton today to head the securities and exchange commission. the s.e.c. regulates the financial industry. mr. trump has made clear he wants to ease regulations on american businesses. and do you remember this? >> you know, i've always been a big omarosa fan, but omarosa, you're fired. >> that was one of three times in fact, that mr. trump fired omarosa manigault on "the apprentice." well, today he hired her to be director of communications in the office of public liaison. and there is pushback against mr. trump's choice for attorney general. six arrests were made last night when protestors from the naacp staged a sit-in at jeff sessions' senate office in alabama. they've blasted his record on civil rights and voting rights enforcement. more now from david begnaud. >> reporter: the protesters said they were taking a stand by sitting down. >> we're either arrested or our demands are met. >> reporter: refusing to leave senator jeff sessions' mobile, alabama, office. this is what they got. six protesters were arrested last nigh

donald trump making jay clayton as his pick for the securities and exchange commission. clayton has deep ties. he is a partner at the law firm sullivan & cromwell. that is the big money advisors. clayton represented bear stearns. recently he worked on the ali baba ipo. he says quote, we will carefully monitor our financial sector. this will be a tricky thing to do. it is responsible for rooting out fraud and ensuring capital markets are fair. trump wants to rollback regulations. he criticized bankers are saying some are getting away with murder. for many, all of the tough talk on the campaign trail about holding the wall street guys accountable on behalf of main street. he is tapping into the pool of talent. >> while they are in the room work are for him. the state of california is gearing up for a legal battle with a president trump. they hired eric holder to advise them when they need to challenge what will be president trump's policies on immigration, civil rights and climate change. they insist they will not allow the president-elect to undo the progress they say the

donald trump has taken a wall street journal insider to be -- he has nominated cromwell lawyer jay claytono head the fcc. things.een in numerous truck criticized opponents for ties to wall street and other goldman sachs names. there was a demonstration at the bank's headquarters as protesters unfurled bounties -- banners. is a housing crisis and a history of the former executive in government. bsi banker will appeal. he was given 30 mounts of jill -- months of jail. he is the third to be found guilty in singapore and faces charges of money laundering. how are former manager has been indicted -- the former manager has been indicted. he faces 60 urges and intends to plead guilty. global news 24 hours a day, powered by more than 2600 journalists and analysts in more than 120 countries. kamaruddin, this is bloomberg. rishaad: china service sector is at an 18 month high with the rebalancing. steve is looking at the numbers here. [speaking simultaneously] service is showing again the strength. rishaad: this is interesting to see it. [speaking simultaneously] stephen: basically this is the survey

we had some conventional news from donald trump today, president-elect announcing that jay clayton, long-time wall street lawyer is his choice for the exchange and securities commission. reversing his rhetoric about draining the swamp, challenging wall street, taking on the corrupt establishment i would not expect that would prevent jay clayton from winning approval to take that job as chair of the s.e.c. donald trump has been making most of his news via twitter. he has been firing off tweets and driving the news cycle. first of all, last night, he sent out a tweet, widening the wedge between him and the intelligence community putting the word intelligence in quotes and saying his briefing had been delayed till friday, suggesting it was perhaps because the intel community wanted to get their story straight and said it was very strange. today, widening it still further with a tweet siding with julian assange, a fugitive from american justice in the london embassy for the country of ecuador, taken asylum there. he said donald trump repeated his statements in an interview on fox where julian ass

>> president-elect donald trump announced this morning that he'll nominate wall street attorney jay clayton to be chairman of the security and exchanges commission. he said mr. delay -- delay on the is a talented expert on regulatory law. president-elect said he wants to undo many regulations that stifled investment . >>> former attorney general eric holder will represent any legal fights with president-elect donald trump's white house. holder was attorney general under president obama. he is a prominent law in washington, d.c. in a at the same time this this morning leaders said they hired holder as legal council to protect california's economy and our sensible policies on climate change, healthcare, civil rights and immigration. >>> stocks are set to close in nine minutes. dow jones was in striking distance of the 20,000 we have been monitoring for weeks. it appears to end one third of one percent on the upside. story is similar on the s&p and nasdaq. both indexes appearing to close up shy of one percent. >>> oakland raiders name their starting quarterback against the houston texans. crea

announcement from the trump transition team as the president-elect nominating corporate attorney jay claytonole of sec chairman. he is currently a partner at prestigious law firm of comewell inauguration day is two weeks closer today. cheryl casone with what additional announcements the trump transition team is making. >> lori, someone known in the wall street community, regulatory review. that is job of sec commissioner to run the sec replacing mary jo white. he worked on high-profile wall street mergers and acquisition. you may remember he participated in the ipo of alibaba back in 2014. he advised big banks like goldman sachs, jpmorgan, and morgan stanley stanley. he worked on the airlines like iberia. that is the big name from the trump transition team. someone you may know, no shrinking violet. omarosa manigault from the first season of "the apprentice," the show on nbc donald trump had. she will be the assistant to the president and director of communications for the office of public liaisons. it is outreach post she expressed interest in already. she has been very close to the transit

yesterday announced his pick for chair of the securities and exchange commission, wall street lawyer jay claytonartner at sullivan and cromwell which "the new york times" describes as the go-to law firm for goalman sachs. >>> hearings for attorney general nominee jeff sessions are scheduled to sta one day earlier on january 10. now, if rex tillerson is confirmed as secretary of state he wilwalk away from his job at exxonmobil with a $180 million retirement package. according to the associated press, tillerson promised the state department he will sell another 600,000 exon shares. all of that is contingent on his confirmation. he spent yesterday on capitol hill meeting with senators of both parties, including mitch mcconnell, marco rubio, lindsey graham and john mccain. many hoe-proceed -- many high profile republicans are skeptical. yesterday, he was asked whether he can support tillerson's nomination. mccain told reporters, sure. there's also a realistic scenario that pigs fly. >> if rex tillerson, donald trump's nominee for secretary of state, if he does not agree with your assessment, if he d

. >> jay clayton picked to head the sec.rump said he is an expert on many aspects of regulatory law and will ensure our financial institutions can thrive and create jobs while playing by the rules. it sounds like he picked the ultimate wall street insider as his next sec chief. >> there is no doubt that he certainly has been wall street bona fide over the years. he has represented the biggest names in private equity funds and hedge funds. has done some ipo work for some of the biggest deals ever. you are really talking about someone who has spent well over a decade representing some of the firms that ultimately are under the regulatory oversight of the sec. >> the battle over the fate for -- the fate of the affordable care act is underway. the opening salvo is taking place on capitol hill. mike pence earlier promised in -- an orderly transition away from the health care law. he criticized obamacare. >> the american people have sent new leadership here because obamacare has failed. >> i think pence brought a little bit of new

. >>> donald trump naming jay clayton as his pick for the securities and exchange commission.is currently a partner at the high powered law firm sullivan & cromwell. he advised goldman sachs on the government bailout.represented . he worked on the alibaba ipo. if he wants to strike a balance between the oversight and the economy. he said we will monitor our financial sector as we set policy that encourages american companies to do what they do best. create jobs. this is going to be a tricky thing. the sec is a watch dog. rooting out financial crimes like fraud. think bernie madoff or insider trading fraud. ensuring capital markets are fair for all. trump wants to roll back regulations and unleash the u.s. economy. he has criticized bankers and hedge fund managers. he said some are getting away with murder on the campaign trail. a lot of people see the tone from donald trump during the campaign when he was anti-wall street and anti-goldman sachs and anti-the big money inside players and for the working class voter. now the people he criticized throughout the campaign are the pe

among the jobs important to business and investors, wall street lawyer jay clayton has emerged as a topandidate to be chairman of the s.e.c. clayton has served clients including goldman sachs and barclays. trump could make that announcement today he would succeed mary jo white. clat seas >>> and exxonmobil and president-elect trump's pick for secretary of state, rex tillerson, agreeing to cut ties. if tillerson's appointment. is confirmed, the value of the 2 milli million shares he would have received will be transferred to an independently managed trust. tillerson will also surrender entitlement to more than $4 million in cash bonuses and other benefits as he gears up for the senate confirmation hearings. >>> back to the markets. joining us now on the cnbc news line, a special guest caller, jim cramer, host of "mad money." loyal "worldwide exchange" fan from the very beginning. jim, you really have been a part of the show for us. thank you for the last year. >> i don't think i missed you guys other than the couple days i've taken vacation. and you start my day. i'm not kidding. we have

according to multiple reports, wall street lawyer jay clayton is a leading candidate for the securities and exchange commission. he is partner at sullivan and cromwell, specializing in corporate finance. john allison could be named for fed governor vacancy. that would make him vice chairman and head of banking regulation. this role has effectively been untilled since it was created with the dodd-frank act of 2010. >>> let's talk about trump and cars. ford canceled plans to build a $1.6 billion small car factory in mexico. the economy attributed the shift for the slumping demand for compact cars and renewed optimism over the president-elect's strategies for domestic growth. ford among other american automakers was a target of trump during his election campaign for their manufacturing abroad and payment of low tariffs. kristen welker has the latest on that story. >> reporter: president-elect donald trump taking on the car industry today on twitter. this morning singling out gm for manufacturing some cars in mexico and importing them to the u.s. tax-free. make in usa or pay big border tax,

jay clayton is currently a wall street lawyer. he must be confirmed. >>> the nominee for secretary of state is now cutting ties with exxonmobil to avoid a conflict. rex tillerson has been an executive at the company for his entire career. he'll get a $180 million retirement package. he was scheduled to retire in march. tillerson doesn't have any government or diplomatic experience. a conformation hearing is set for next week. >>> vice president joe biden let it slip he'll spend time in philadelphia at the university of pennsylvania once he's out of office. take a listen to his microphone that was still on last night. >> did you catch that? the vice president said he'll be based at penn but he's not just working at penn. the vp is setting up a blind trust to continue the cancer research work he spearheaded. >>> a lehigh valley farm is smoldering this afternoon after a massive fire burned across the property. >> growers are trying to salvage any plants they can ahead of the busy spring season. we are in zionsville with the latest. >

. >> and steve bannon and gary cohn and jay clayton. he actually advised goldman sachs on the bailout. he worked for the law firm. this list clashes with the campaign rhetoric. he blasted hillary clinton's speeches at goldman. he featured goldman ceo lloyd blankfein. his last word of the campaign was the video ad very gloomily talking about goldman sachs. he reaches in and hires a bunch of people. >> apparently it was a recruitment video. >>> three days until the inauguration. the world listening closely to every word that the president-elect speaks. in the last few days, comments about nato and china and eu and german chancellor and immigration policy. he called it catastrophic. now secretary of state john kerry is weighing in on the effects of the president-elect's statements. >> i thought frankly it was inappropriate for a president-elect of the united states to step in to the politics of a country in a direct manner. he'll have to speak to that as of friday. he's responsible for that relationship. >> as for merkel, she said she will

going to be a few more staff announcements today, so far the only nomination we have seen is for jay claytono become the next chairman of the securities and exchange commission and an announcement about that nomination, or intention to nominate, transition teams as this. "robust accountability will be a hallmark of his tenure at top the sec in the financial security of the american people will be his top priority." president-elect has been busy at trump tower today even though we have not seen him come he spoke on the phone with the secretary general for the united nations, he is going to meet with union leaders representing engineers and hotel workers and also we found out more on a conference call with senior transition officials about that intelligence briefing the president-elect is going to get on friday about alleged russian interference in the election process. the director of national intelligence, fbi and cia are all going to be here in person to lay out their case. jon? >> jon: peter doocy life outside trump tower, thank you. >> jenna: insisting he wants more evidence that russia w

he picked jay clayton to run the securities and exchange commission. his pick to become the next secretary of state is working ahead of next week's hearings to eliminate any conflicts of interest with exxonmobil. rex tillerson is in line to get $180 million from the oil giant as a retirement package, money that would go into a trust that would not be allowed to invest back in exxon stock. two other picks to administration jobs. liberal groups accusing steven mnuchin of profiting off the foreclosure crisis. >> vote no. >> and ncaa -- ncaa half a dozen people were arrested, including the group's president. chuck schumer is outlining his plan of attack against senator sessions, 1 of 8 nominees he wants to slow down on their way to the cabinet room. >> and attorney general who is so anti-immigration. >> that president-elect has expressed little faith in the intelligence community. a few minutes ago, a senior transition source texted to confirm that a leading contender to come in and clean things up as the next director of national is former indiana senator

we're also getting word trump will pick jay clayton as the head of the s.e.c.t will be an interesting one. he'll be a familiar face to a lot of people on wall street. and we know that carl icahn, the billionaire activist investor was actively involved in advising donald trump on who he should pick for the s.e.c. but you see a president-elect coming in now who's got a very different sense of how a president should deal directly with individual ceos, individual companies, individual corporate decisions how that relates to his s.e.c. pick is going to be a fascinating dynamic to watch play out here on capitol hill as well, carl. a lot of news this morning. >> eamon, you've covered also this other point -- we're moving from point to point, but there's a lot of news made in the press conference with vice president-elect mike pence. he said that there should -- that donald trump has a healthy amount of american skepticism about the intelligence findings. >> interesting. >> you talk to so many sources inside the intelligence community. i just wonder how that's going to

maxine waters, the ranking member of the house financial services committee, said in a statement -- "jay clayton is just the latest addition to the growing pool of wall street insiders that make up the trump administration. as head of the sec, clayton will have the power to carry his pro-wall street agenda to the agency that is entrusted with regulating wall street." in chicago, donald trump's incoming press secretary drew protests wednesday over his appearance at a panel discussion on the university of chicago campus. sean spicer was preparing to join former obama adviser david axelrod in a conversation at the university's institute of politics when a protester stood up and accused spicer of accommodating. >> fascism without a respect, there is an opportunity for you to post questions later on. >> [inaudible] amy: spicer's appearance at the university of chicago came despite widespread protest on campus. last august, the university's dean of stents, jay ellison, warned undergraduates -- "we do not support so-called trigger warnings, we do not cancel invited speakers because their topics might p

donald trump has just formally announced that jay clayton, a securities lawyer, is going to be his choiceo be the chairman of the securities and exchange commission. longtime lawyer for sullivan & cromwell, somebody who's represented goldman sachs, among others, a lot of mergers and acquisitions work. i think this is likely to be well received on capitol hill by republicans. but the real fascinating story this morning is this growing rift between donald trump, the president-elect, and the intelligence community that he will be directing in just a little over two weeks. it started last night when the president-elect put out a tweet saying that the "intelligence," and he put the word in quotes, briefing that he was scheduled to have from the intelligence community had been delayed until friday. and he speculated, "maybe they're trying to get their story together. very strange." then this morning he tweeted an affirmation of a statement that julian assange, the wikileaks founder who has been hiding out in the ecuadorian embassy in london, somebody that senate majority leader mitch mcconnell