julie: my thanks to kathleen gaffne, julien scholnick and ira jersey. ♪ ♪ julie: julie hyman and for this is "bloomberg etf iq." we focus on the assets, risks, and rewards offered by traded funds. ♪ julie: 2017 saw a record year of low volatility. as we look at 2018, our guest says it will be the year of the hedge. we talked to the man behind most recent vice etf. it focused on alcohol, cannabis, and tobacco.

julie: from new york city, i'm julie hyman in for jonathan ferro with 30 minutes dedicated to fixed income. this is "bloomberg real yield." ♪ julie: coming up, we look at a year ahead in fixed income as investors prepare for a new fed chair. tighten your seatbelts as the yield curve reaches its flattest levels since 2007. it's the last trading week of the year. we review the year that was 2017. we start with the big issue issues of 2017. >> i think the fed is itching, wanting to raise rates for some time. >> i still think the inflation rate is there. >> it has hit an air pocket. >> we are pleased with what going on in the unemployment picture. >> job creation remains solid. >> the jobs number is a good number. >> the labor market is continuing to heal. >> there is room to maneuver, but we are a long way from full employment and wage growth. it's a long way from where it would be if we were close to it. >> people have confidence this administration cannot not only get the big themes, but can deliver on them. >> if he wants to make everybody happy, including his base, he has the real policy

have at it, democrats. >> julie: congressman john duffy, thank you so much. >> julie, have a good one. >> julie: joining us now with more on the impact of the president's interview, thank you very much for talking to us. never a dull moment, not even during the holidays. do you think president trump did a good job at defending himself? are you surprised that he spoke to "the new york times"? >> i do think this sort of does undermine the argument made by president trump's allies in congress and media over the past few weeks, you've had people trying to cast out entirely, the public has lost complete trust. i think congressman duffy use the word witch hunt. when president trump says he thinks he's going to be treated fairly, it does sort of undermine this whole narrative that the investigation is a legitimate. i can really only think of two core reasons, the first would be, if the president wants to pardon someone you do want public opinion behind you. the second is if any of this investigation should lead to impeachment charges, impeachment charges are ultimately led by elected represe

this is "bloomberg real yield." ♪ ♪ julie: i'm julie hyman. this is "bloomberg real yield." over the next week, new year's day is monday. most global markets are closed. you have u.s. economic data, including the jobs report on friday. plus, minutes from the last fomc meeting and the much discussed mifid ii, the biggest change to european industry rules in a decade. those are happening on wednesday. with kathleen gaffne, julien scholnick and ira jersey, and i want to focus on the jobs report on friday. we already heard a little bit about kathleen's outlook for wage growth. ira, what are you guys looking for for wage driven inflation next year? will we see any sign of that? ira: i think a little bit. one of the things i like to do is break out the cpi inflation report and a high volatility and low volatility segments. when you look at the volatility segments, a lot of service industry jobs. the price pressures are increasing. where the energy and food related commodities and sectors that are jumping up and down in a very highly volatile, those of not rebounded to the same ext

♪ >> julie: welcome back to "outnumbered overtime." republican lawmaker is calling for a purge of the justice department and the fbi. congressman francis rooney of florida warning about people at the agencies who he believes are politically biased against president trump. in an interview he specifically mentioned fbi agent peter strzok who was removed from robert mueller's russia probe after he was caught sending anti-trump texts. here is congressman rooney. >> i would like to see the directors of that agency purge it and say we've got a lot of great agents, a lot of great lawyers here. those of the people we want the american people to see, not these people who are the deep state. >> language like that, purge the department of justice? >> i think that peter strzok could be purged, sure. >> earlier today on "fox & friends," a republican member of the judiciary committee was asked about his colleagues comments. >> there has been problems with the leadership, obviously comey, i think the president was right to fire comey. you look at a g

take it away, julie banderas. ♪ >> julie: president trump is aiming for more legislative victories aheadf the midterm. the first weekend of the new year, laying out the 2018 g.o.p. agenda, welcome to "outnumbered overtime," i'm julie banderas in for harris faulkner today. president trump is eager to check my legislative achievements off of his list before the midterm. reports that he is going to host paul ryan and mitch mcconnell the first weekend in january so they can start plotting the 2018 legislative agenda. in the meantime there is a lot on their to-do list including health care. still outgoing house project committee chair diane black says americans are going to be holding republicans accountable for health care in the midterm. >> there holding all of us responsible right now, even though people have signed up for obamacare under the exchanges, they can't afford what they have. they are holding us responsible for that. the marketplace will work. i know that here in tennessee because we have insurance companies continue to offer programs that were not in compliance with obamacare w

>> julie: express check-out. a woman goes into labor inside a market. >> cashier told me there is a lady here that is feeling bad. they want -- she wants us to call the 911. she is like i think i'm having my baby. .go pro with crest pro-health. 4 out of 5 dentists confirm these crest pro-health products... ...help maintain a professional clean. and it's the only toothpaste with the ada seal of acceptance for protection against acid erosion. >> julie: one baby just couldn't wait for the hospital. don't you hate when that happens? as a woman gives birthright in the middle of a grocery store. big oeft nightmare. surveillance cameras caught the woman stumbling to the ground in fresno, california. volunteers helped the woman delivered the baby before paramedics arrived. >> she said oh my gosh, she is having the baby. then i run and then i see the baby coming out. i tell the cook oh my god, bring me the scissors. because the first thing i thought i had to cut the cord. she was asking what did i have? we said a boy. >>

julie: i am julie hyman.ar's frenzy for bitcoin has spurred an escalation in online ransom attacks. as it soars to new heights, so do ransom amounts. around mid-2017, top payouts in ransomware attacks began to exceed $1 million, for feeding the previous of $17,000. joining us with more is jenny simmering. first of all, explain what ransomware was. i have seen the term but walk us through what it is. >> ransomware is a type of attack where the hackers go in, they lock up your files and say, if you want this back, you have to pay the ransom. typically, they are demanded in bitcoin. vonnie: and there's usually a countdown talk and you did not have long to think about it and your reputation is at risk. apparently, there is something called ransom insurance. how long has it been around? can go back to the 1970's, when wealthy families and corporations got worried people would get kidnapped, so insurers said we will ensure against the price of the ransom. flashforward 40 years, and we're looking at ransomware attac

julie: that's okay.thanks for coming in on the saturday. >> i think hedge fundable is not a word, it is two words, it's a winter wonderland in the big apple. we will check weather across the northeast and president trump just landed in florida after visiting the new civil rights museum in mississippi. we will tell you what the president has planned for the rest of the afternoon. stay with us. >> we cannot afford, this country, the future of this country, cannot afford to lose a seat in the very, very close united states senate. we can't afford it, poll, so get out and vote for roy moore. [cheers and applause] lower back pain has met its match. aleve direct therapy. the only remote controlled tens device that's drug free, wire free for deep penetrating lower back pain relief. and now get aleve direct therapy. available at walmart. ♪ but it might be hard to handle ♪ ♪ like the flame that burns the candle ♪ ♪ the candle feeds the flame ♪ topped steak & twisted potatoes at applebee's. now that's eatin' good

[laughter] julie? julie: i like your jacket. i've never seen you sport leather. [laughter] >> reporter: it is very cold. julie: you should come to new york. [laughter] >> reporter: this is the coldest it's been in south florida since january, and i can guarantee you you could just walk arounding and find many people with scarves, hats and maybe even some mittens. julie: come to new york -- >> reporter: 60s! julie: it has been snowing all day long, i can't imagine what you'd be wearing if you were here. hope to see you -- james: for more on all of this, let's bring in a white house correspondent at the washington examiner. the last 4 hours really have brought us -- 24 hours really have brought us a tale of two trumps. you saw the perpetual campaigner with 10,000 cheering supporters in pensacola last night, condemning fake news, enforcing roy moore, and this morning in jackson remarks at the mississippi civil rights museum. what does this all tell us about donald trump as a political performer? >> well, he knows the audience that he's playing for, and we saw that b

julie and rick, back to you. >> julie: no pressure. rick. >> rick: for more on president trump's 2018 agenda let's bring in the editorial director for "the washington examiner". good morning, hugo. as we heard from rich and the president it's about infrastructure in 2018. the president says he can work with democrats on that. is that overly optimistic? >> i don't think it's overly optimistic. the democrats are telling the truth saying they would like to get it done. as you remember they spent a trillion dollars on infrastructure and shovel-ready projects at the beginning of the obama administration and no objection to that. the details will be the difficult ones. the republicans are looking at a package which will be about $200 billion of federal spending. the democrats are going to want it to be much higher than that. the republicans would like there to be a private/public partnership. that's not something the democrats necessarily like and there will be a lot of bargaining. the more that the republican conservatives see projects in t

julie, we're back on a two shot. >> julie: we tried.e bernie, that's it. >> rick: someone in the control room. >> julie: let's try to talk to him in 2018. preparations in full swing in pasadena for the rose parade new year's day with more than a million people expected to line the route. what authorities are doing to keep everyone safe. we're live at the scene next. >> nine minutes away we'll dive deep into the president's interview published this morning in the "new york times." the loyalty of attorney general jeff sessions, daca, wall and north korea. also have you heard the latest from facebook? the social media site dropping its fake news flags after research showed they made readers want to click even more. what facebook is offering instead. "happening now" at the top of the hour. ♪ >> rick: dreaming of ending the year on easy street. the mega millions in powerball lotteries are each worth more than $300 million with both drawings taking place this weekend. keep in mind two lotteries do not mean double the chance of winning. the od

julie: thank you so much.sk you to sick around a little bit more. , lead strategist for quad group. towill be looking at what expect from the fed. this is bloomberg. ♪ julie: "what'd you miss?" apparently we are missing a lovely sunset. the senate should confirm jerome powell to be be fed in 2018 and he will lead it to continue the fight against inflation. has beenk the fed itching, wanting to raise rates for some time. >> i don't think the reflation trade is there but you of volatility. >> i think over time the reflation trade is still in play. >> we're pretty pleased. >> job creation remain solid. >> the jobs number is a good number. i think we are a very long way from full employment and wage growth is still a long way from where would the if we were anywhere close to it. people have confidence that this administration cannot only get the big themes out there, but deliver on them. >> if he was to keep everybody happy, he's got to do some real policy stuff, not just tweet. there's a few bleary eyes in london

julie? julie: thank you. it is not all paradise at wynn resorts.u about the five-your battle for the company. they are outpacing rivals like las vegas sands and ngm resorts. from new york, this is bloomberg. ♪ julie: this is bloomberg markets. i am julie hyman. joe: and i'm joe weisenthal. the war at wynn is escalating. casino mogul steve wynn has been fighting for five years over his ex-wife's ability to control her stake in wynn resorts, but she has an ace up her sleeve -- a 2005 settlement with a former employee. bureauring in l.a. chief, chris palmeri. you have to break this down. what is elaine wynn alleging? chris: she is pointing out in her long-running feud there is paid,ettlement steve wynn a multimillion dollar settlement with a former employee in 2005, and she discovered it in 2009. she is saying this space to a problem at the top of -- speaks to the problem of the company that the board was never notified about this and that companies shouldn't be, you know, paying the settlements without more scrutiny, and in the wake of the weinstein

>> well, good morning, julie.l spending has been really going strong ever since black friday and those cash registers have been ringing all the way up through christmas day. now some of the major credit card companies saying many retailers benefited from christmas falling on a monday this year giving shoppers a full weekend to open up their wallets for the last-minute buys. experts add high consumer confidence and robust job market boosted sales during the holiday period helping it the rise at the best pace since 2011 to nearly $600 billion. that's $33 billion over last year. as you might expect, one online retailer in particular was quite popular. >> amazon all the way. 100%. >> most of it has been online. >> why is that? >> it's easy, convenient. free shipping. >> and julie, a sign of just how busy things were this year, ups reports it actually ran out of drivers. they had to call into marketing people and other staffers to get behind the wheel and help deliver the gifts. >> julie: i have to give it to ups. i al

. >> julie: i'm julie banderas.he trump family enjoying holidays in florida, even fielding calls from kids tracking center. today it's back to business. president trump tweeting "i hope everyone is having a great christmas, tomorrow it's back to work in order to make america great again which is happening faster than anyone anticipated. we are told to look ahead, tell us what's on the agenda when the president returns to washington. >> addressing north korea, that something the administration is tackling right now. the treasury department is has identified to call more officials adding them to a sanctions list right now. steven mnuchin said in a statement "treasury is targeting leaders of north korea's ballistic missile program as part of our maximum pressure campaign to isolate the dprk and achieve a fully do nuclearize to korean peninsula." treasury says this announcement follows friday's u.n. security council resolution that tried to combat financing from north korea. meanwhile, president trump is golfing today,

. >> i'm julie banderas. president trump promising to spread holiday cheer in time for christmas. >> president trump: we have a final step to go and i predict we'll be very successive. talking about massive, massive tax cuts. tax cuts and reform. but i also mention tax cuts first because that's what people like to hear. we are now one huge step closer to delivering to the american people the historic tax relief as a giant present for christmas. >> chief white house correspondent john roberts is live at the white house with today's news. this is a huge plus for republicans and the president. >> you talk to people at the white house using a football analogy. some people think we're on the 3-yard line. the president will talk tax reform with senators in the roosevelt room today. corey gardner and lemarch alexander bringing over people that want to talk about the president. tax reform will not be the main driver of the agenda today but it will definitely be in the discussion. the white house is hoping to limit th

julie hyman.'m scarlet fu. kathleen moriarty knows the etf lifecycle better than anybody, because she has known -- been known as spider woman in the etf world for building a legal framework for spy. many otherlp launch popular etf now. i spoke with her wednesday on bloomberg etf iq. take a listen. legal's start with your perspective. using bitcoin etf as an example, there is a concern there would be a derivative on a derivative on an underlying asset that is unregulated. skeptics have called it the next cbo. talk to us a little bit about the structure of the etf and why the wrapper of the etf should not inspire confusion or be will demand. -- or be wildermuth -- the welder -- bewilderment. are talking about physical bitcoins, if you were talking about spy, it would be the underlying s&p 500 stocks. those are going into a trust, shares are issued, and those are things that are redeemed. when a redemption occurs, you get back the underlying proportion to the number of shares. you talk about a deriva

julie: i'm julie hyman.: i'm joe weisenthal. what's the relationship between facebook and the markets, it's complicated. concerns have grown over its market dominance. caroline massar interviewed a professor on bloomberg surveillance, asking him who is afraid of facebook and why? >> i think that the first concern of facebook is the market dominance, that is, it is the major social network and i think that it is difficult to see on the horizon anybody threatening that and whenever you add -- >> even regulators? >> they might intervene, but it is still difficult given that the market power that facebook has, it is very difficult is the alternatives. then you are concerned about, how is that market power used? if there are alternatives -- there were a lot of alternatives, it would not be a concern, but there are not. and should we try to break down facebook, i do not think that will happen anytime soon. should we try to regulate, or this is my preferred solution, should we try to make data and thatl media easie

julie: and i'm julie hyman. the stock -- for the stock of the hour, copper stocks on a move that is set to be the best in almost 30 years. one of those is freeport matt of -- a big minor freeport-mcmoran, a big miner of copper. >> you can see we are now at our high, going back almost three years, since mid-2015. that share price now almost at $19. there is a lot of other copper shares as well that are trading higher. cliffs natural resources were up , and two out of canada. those were up as well as, more than 1%. so it is a copper story. i do not think we can talk about these without looking at copper, and we can see these stock mosts have hit and a four-year high. you have a few combinations of things -- global demand, and earlier this week we had china coming out saying they told their top producer to halt output to combat winter solutions. you had a drop in supply and demand almost reducing the price. shery: we are seeing this huge rally, which has to do with thin trading. i'm wondering what would happen next

julie: good stuff. of those places that when climate change gets bad, it will be an away sis. -- an oasis. thank you so much, our bloomberg banking reporter. december consumer confidence numbers are out. how americans are feeling about the economy. this is bloomberg. ♪ this is bloomberg. ♪ julie: "what'd you miss?" americans are ending 2017 feeling good about the economy, according to consumer confidence numbers. the strongest numbers since 2000. where is the confidence coming from? here with the key takeaways from the report, mat. -- matt. >> i brought you a chart on wages, but i wanted to start with the good news. it looks like 2018 will be the year of the vacation because according to this report, we are seeing the highest percentage of americans planning on taking a vacation in the next six months, than we have seen in this entire expansion. this year we broke above the 50% mark. you can see in the second half of this year, it has accelerated. it suggest people are feeling better, have more money to

julie: live from bloomberg's world headquarters in new york, i am julie hyman. joe: i am joe weisenthal. scarlet fu and julia chatterley are off today. julie: stocks are higher this afternoon. the dollar touched its lowest level this month. joe: the question is, "what'd you miss?" julie: who is afraid of amazon? apparently everyone. we have a chart that shows you what happened attack sector in 2017. sticking with tech, uber are looking to sell a sizable stake to softbank. wants tois a year uber forget. italy's prime minister wants to dissolve parliament. we get the latest details from milan later in the show. "what'd you miss?" nirvana is tax cut running into local problems -- underfunded retentions. what does this mean for markets -- higher tax collections usually go into credit funds forcing -- focusing on corporate distressed debt or leveraged buyout commandant meets next year could end up looking a lot like this year with the debt-fueled stock buybacks, m&a, and tighter spreads. here to find this, brian reynolds. think you so much for joining us. -- thank yo

julie. >> julie: news fox alert on the california wildfires. flames closing in on homes north of los angeles. hundreds of thousands of people in evacuation zones including those in the exclusive ridge top neighborhood of los angeles. a new fire has just erupted there. in ventura more than a quarter of the residents there have been told to leave and daily curfew in effect to prevent looting. powerful santa ana winds and dry conditions complicating the fire fights. >> i saw it was going down into santa paulo. it could easily come west to us. it moves so fast you barely have time to get out >> julie: joining us on the phone is the chief. i understand over your 15 years with the fire department you haven't seen fires of this magnitude. >> good morning, julie, thank you for having me. that's correct. i've been with this fire department since the mid-90s and we've had fires around the community that have come very close and right up to the border of our city. this one for sure was the most devastating and definitely was the saddest for us as the city

julie: u.s.tocks have been fluctuating at a pretty tight range as we have seen this risk sentiment. -- risk off sentiment. with the gop tax overhaul going on in washington, pressure bearing down on the tech sector, testing investor risk appetite. joining us from jensen investment management, the managing director and portfolio manager, allen bond. as we see this increased choppiness in the market, we have seen a lot of different explanations. some of that has to do with taxes and politics, some of it has to do with this factor-based investors in the market, pushing it around. what is going to be propelling us through year end? sense we think it makes to take a step back and think about what has driven the market this year. we are in the process of closing a strong year in the market. a lot of factors and you mentioned some of them. we think stocks are following earnings. we saw acceleration in earnings growth this year. we expect that to continue. we are positive on the trend when stock prices fo

julie: i'm julie. get a check on where markets and right now even though we see those declines today. abigail doolittle is here with the latest. abigail: it has been a wild day for the equity markets in the u.s., but we are seeing those declines you are talking about for the dow, s&p 500, and the nasdaq. nothing like we saw in the late morning, where the three major averages were down over 1%. the dow had been down 1.4%, the s&p, 1.6%, and the nasdaq down 2%. that selling.ted all of the headlines around michael flynn, the russia probe, the possibility that he could testify -- that last piece of information coming from abc news .eporting if we take an intraday look at some of the dow, -- at the dow, we will get a better picture of this. before 11:00, the dow had been up slightly, on pace for another record close, and this cliff headlines.n those investors trying to figure out what does it mean? could it mean impeachment for president trump? quoted stall policy -- could it stall policy? and the uncertain

julie: i am julie hyman. athletic apparel retailers, companies like nike, under, lululemon, and dick's sporting goods. thanks to a huge rebound it saw in the fall. joining us with more is bloomberg intelligence apparel analyst. what is so interesting about the chart for nike is it was not in -- it was not a foregone conclusion. there was just generally the f what it apparel market, it seems kind of shaky. are things going better next year? question terms of nicely -- nike, i think so. it is a lot stronger than last year. we're still dealing with inventory but overall, it should be a better year. of: in terms of the issue competition, and it was adidas last year and an under armour. is the way to interpret this, it will be some hot company for a while or is there a risk that may see -- nike loses permanently? >> i think the first part of what you said. 94% is nike. wall buttimes have a innovation, he put it out there and they are the first mover and they have the advantage over other companies. >> what about l

this is bloomberg. ♪ ♪ julie: this is bloomberg markets, i am julie hyman.e: i am vonnie quinn. turned deepg jones red alabama blue, if eating judge roy moore to become the first democrat elected in 25 years -- defeating judge roy moore to become the first democrat elected in 25 years. >> alabama has been at a crossroads and unusually -- unfortunately, we have usually taken the wrong fork. we have taken the right road. vonnie: the win could imperil the gop agenda, shaving the republican majority to a single vote. we are getting headlines crossing the bloomberg right now about the tax plan. house and senate negotiators said to have reached a tentative compromise for the overhaul that would still need to be scored and put into different language. for the latest, let's go to inin cirilli in montgomery alabama. what an amazing night to be in montgomery, but today the news has moved on and it would appear we would get some kind of negotiation resolved today. does it matter when doug jones is seated? kevin: it matters in terms of if republicans can get this done b

julie: this is bloomberg markets: balance of power. david: time to get a check on the "first word news." we head over to mark crumpton. mark: united nations general assembly voted today to declare the u.s. recognition of jerusalem as israel's capital quote, null and void. before the vote, ambassador nikki haley told member states the u.s. could stop funding countries that supported the resolution. she added that plans to move the u.s. embassy to jerusalem will go forward. >> the decision does nothing to harm peace efforts. the president's decision reflects the will of the american people and our right as a nation to choose the location of our embassy. said ambassador haley quote, the united states will remember this day when it was singled out for attack in the general assembly. the trump administration is imposing sanctions on myanmar. the treasury department says it's penalties are targeting 13 people worldwide for human rights abuse and corruption. among them is myanmar's army chief responsible for operations in the area where washi

julie: i'm julie hyman. mark crumpton has more.k: president trump says an agreement on tax reform very, very is quote close. his comments came as tennessee senator bob corker said he is still undecided on the proposed tax bill. worker was the only republican to vote against the bill in the senate. the president added that lawmakers are closing in on a new corporate tax bill, and that the legislation will be, in his words, extremely impressive. he also said it may allow for trillion dollars to be repatriated from overseas. the british prime minister theresa may's brains of bill is in the house of commons for a vote that could be the first one the government loses. some conservative party members want parliament to be able to alter or veto a final brexit deal, if they don't like it. the u.k. government says it's already made concessions on the eu withdrawal bill, suggesting it's not planning to make any more in order to prevent a rebellion in parliament over its landmark brexit legislation. global news, 24 hours a day, powered by mor

we will hit january tomorrow, julie. julie: all right, v.j. on the looking at big delays for those south on a out of white oak heading down to the four owners. sky track 7 -- four corners. sky track 7 on the scene of this crash. a pedestrian was struck with minor injuries. traffic is getting bites the left. you want to use randolph road over to cherry hill, cherry hill back to 650. that is a good workaround for you. right now, a 20-minute ride. over to the maps, we want to update the ride elsewhere. northbound 5 we have a record tying up the far left lane. we have delays in virginia, outer loop heading toward springfield, left lane blocked off here because of an accident. dealing withline delays each way, track problems outside of huntington. that is our traffic watch. we will be back in the next 10 minutes.we have got subproblems in leesburg -- some problems in leesburg. i will let you know where. autria? autria: the polls are going to open in alabama in an hour and a half for voters to pick their next senator allegations against republican r

. >> julie: i'm julie ban deras. the house and senate reached a deal on the tax deal. the president calls it a giant tax cut for christmas. >> president trump: we're reclaiming our destiny as americans, a nation that thinks big, dreams bigger, and always reaches for the stars. we didn't become great through massive taxation and washington regulation, and by the way, we're cutting regulation at a rate never seen before in the history of our country. >> julie: john roberts is live with the rest of this story. >> good morning. stole my line about the finish line being in sight. let's come up with something else. if you were climbing mt. everest tax reform would be the level of the hillary step almost all the way to the stop. a nail biter. bob corker this morning says he is still opposed to this. the margins are very slim and if tax reform doesn't pass early next week it gets pushed to the new year and the margins become more difficult when doug jones from alabama is seated in his seat in the senate. so that is why the vice president today announced he is canceling a plann

let's get a check on markets with julie hyman.el the s&p and dow to highs, at least on a closing bases, but it is the nasdaq that continues to lead. after the turmoil and rotation we were seeing recently, that seems to have evaporated. within the s&p 500, it is tech that is leading, followed by energy, rising along with oil prices. health care, holding up well. industrials and financials are seeing some losses. after that very clear divergence we were seeing a couple weeks ago between tech and financials as people rotated out of one of the best-performing groups of the year, it's a bit more of a muddled picture. take a look at the yearly view. tech is the best performing group. the second-best performer today was energy. it is one of the worst performers of the year. health care is doing well today, and it's one of the best performers of the year. we are not seeing, at least not on a sector wide basis, that kind of clear rotation from winners to underperformers. it is kind of a muddled picture as we enter the final month of the ye

to julie wright.until 8:30. 355 ish summit avenue, that is where we find our chopper. one car is heavily damaged, knocked over a utility pole. the electric company is trying to repair the pole and restring the wires. it is a mess. 355 with a lot of equipment shut down. summit avenue to oden hall is a work around. you may want to use 270 as your alternate route. john gonzalez has more information from the scene. have bwthe mavs, we parkway at 50, this crash blocking a right lane heading into northeast. south, mpd is checking for a crash near benning road. the crash near the exit for dumfries has cleared. that is our traffic watch. back in the next 10 minutes, we will update the ride through the greenbelt. the today check of the forecast. the cold weather? veronica: one more day where temperatures go up before they start bottoming out. as far as this morning, you mentioned chilly. it is one of the mornings our temperatures start out higher than any other day. .9 to 40 degrees our temperatures will rise,

julie: the u.s. has a new federal tax code and it changes the economic situation for every individual and company in the country? here with more details is craig gordon. about thisn talking for a while and now that it is signed into law we figure out what is in it and what effect it will have on us as individuals, on corporations, how long does accountants to dig through these things and figure out the real-world effects? craig: that will be in two steps. tax preparers are talking to clients about seeing if they can sneak in property tax payment for 2018 this year. ine they did actions go away 2018 you will not get hit with that tax. you will see a lot of fancy footwork heading into the end of the year. in 2018, around february, their publicans and congress have said look at your paycheck and you will see payroll deductions go down. for a lot of people that could be double digits. it is not chicken feed but it is not going to blow your doors off when you see it. closely.to look at it republicans are

right now, julie has you covered on area roads. julie: unfortunately, covered with brake lights. northbound on the bw parkway as you push northbound headed off toward greenbelt, this is where we have the stalled bus after 410. only one lane getting by. heads of northbound coming out of d.c. approaching calvert, this is the gas main break. southbound, lanes are open. metro's red line single tracking. this area was suspended for the last two weeks. this morning, they tell as it is late-clearing track work causing single tracking and delays. that is our traffic watch. back in the next 10 minutes with another update in greenbelt. adrianna: breaking right now, new were just in in the last hour, a house fire in loudoun county is no deadly. fire marshals told john gonzalez that one person has been found dead inside that house. john is on the scene getting new details from crews still hosing down hotspots. we will check in with john when we get m autria: a search for a missing teenager ending in tragedy this morning. suzanne kennedy is live in bethesda with what happened. suzanne: good m

julie: thank you, mark.stories we are closely, michael flynn pleading guilty to lying to federal agents, and then there is the gop inching closer to passing a tax bill. bloomberg's deputy managing editor for the u.s. government joins us. kevin, it appears that the republicans have 51 votes, susan collins the latest to sign on. it looks like she is getting concessions on the health care from because she was concerned about the health care mandate repeal. >> some of these confessions of to do with legislation that would help with health care costs, others have to do with tax reductionl for she is claiming she got a handful of deductions, some that are in the bill, some better promises for the future. what we are waiting for is a revised text to come out with changes added in so people know if they are voting on in the hours ahead. so, they have the votes. so, whatever. but here is what i am curious about. she is getting this stuff on the state of local. some of the other senators are getting stuff on pass-thro

i'm julie chatterley. scarlet: it's time for option insights with julie hyman.oining free -- joining me today is kevin kelly. , i shouldcreated firm say. kevin, we should take a look back at this year. as you titled in your note to me, volatility year in review, except it should be titled lack of volatility, year in review. what stands out to you? eye of thes in the beholder. last year in december of 2016, we saw we had the low of six for the entire year. it was 11.27. if we compare that to this year, we have averaged underneath that. going into the end of last year, we sought skews spike up. that is the tail risk insurance part of the options market. people were hedging themselves. they were hoping, it was portfolio insurance. we saw in january of this year, it was pretty high. it was in the 140 level. we have averaged 134. we are back to that level. anwe look back, we have elevated skew or you would not have volatility in the marketplace if everyone is starting to hedge. if you have skewed high, they have already hedged their portfolio. they don't have reason

julie hyman is here with the details. julie: this is called digital millionpw, a $70 company.flects this trend around cryptocurrencies. you get these various buzzy things that passed through the marketplace. anything that is tertiary lee associated, they mention it and andsee them become volatile react to whatever that thing is. company, thef this company says it is planning to launch systems for digital mining of cryptocurrencies including bitcoin. ever since it said that, you have seen gains in the stock. some company will say we are a -- company now. some seem dubious. we are a medical marijuana company and now we are digital currency. at least in this, it seems the thing they are offering is kind of within the realm of their existing product. >> yes. subsidiaries, it is doing this particular mining. mining.lated to the if you take a look at the bloomberg, what is interesting, whether or not it is actually linked to its mission is irrelevant. here on the talk is the stock price. i compared it with wells fargo. the number of shares being traded is higher today than the numbe

julie: i'm julie hyman. u.s. steel's leading gains among major u.s. steelmakers, after u.s.ies blocked vietnamese steel made with chinese imports. that has a.k.a. and u.s. steel rising. joining us with more is taylor riggs. been an issueas ongoing for the administration of these various industries have been waiting for decisions on this stuff. is a preliminary ruling. the final ruling comes off every 16th. its good news for the u.s. steelmakers today, with the commerce department coming out and saying that steel that comes from vietnam, from products that originate in china, have violated duties. to get the language right they have circumvented anti-dumping and it opens up these other countries to perhaps some theirs and duties when products of steel originate from china. so we have four different steelmakers that we are looking at today. largest,one of the the group part of of six that pushed for this with the commerce department. and the argument was always that, if you took a product from china, changed a little bit and then put it another country like vietnam, and then s

let's go to julie hyman. julie: as we await the news coming out in just a moment we expect to see the mexican central bank raised the overnight rate to 7.2 5%. that is a 25 basis point increase and it was indeed what economists were expecting. bloomberg23 folks surveyed did expect the increase. we have seen this increase and i am now seeing the headline that mexico policymakers were split in this great decision. fore are currently only governors in the central bank of mexico. -- four governors in the central bank of mexico. it is his first meeting as head of the central bank. in the event of a tie he was expected to be the tiebreaker. it looks like that is what ended up happening. we are not seeing much of a reaction. the dollar versus the mexican peso. we are seeing the dollar higher by a quarter of a percentage point versus the mexican currency. on the bond side as well. here's the mexico 10 year yield year to date. we have seen a little bit of an increase over the course of the year. 7.38% at this point in

julie wright will have a traffic report in a few minutes. overnight, the man we heard calling games for 60 years, he is no longer with us. retired last year after calling everything from super bowl's, to the olympics. official word. he was a legend, dead at the age of 82. the miss america pageant is losing a partner this morning. adrianna: vulgar he males are at the center of the schedule. the ceo said he males with harsh and crude comments about past winners' bodies, intelligence, and sex lives. has cutrk productions ties with the pageant. the emails have cost the pageant that partner and raises the questions about the tv future. a major accomplishment on the hill. the house and senate passing a short-term spending bill yesterday, which means, we avoid a government shutdown. the plan will keep the military going for a year and it funds throughs program march. won't be worked out until the new year. another funding fight. jerry brown requesting a major disaster declaration from the white house. that would boost recovery efforts and provide h

on markets with julie hyman. julie: it looks like traders are more sanguine. when we initially got reports that marco rubio would indeed be a yes on .he bill as i've been talking about all day, there is something else affecting stocks, certainly affecting the volume of the s&p 500, which is running about 36% above average. rebalancing does tend to spur increases in volume. that's what we've seen the past several times this has happened. the last time we had quad witching and rebalancing was september 15. eight point billion shares changed hands, about 38% above the average. $19.7 billion worth of trade according to the s&p, dow jones. they estimated that number in december 10. just something the factor in when you look at today's trading. we have video games and things associated with video games that are doing well today. there was a note out from goldman analyst chris of her merlin, who says the recent selloff in videogame stocks has largely been due to positioning around tax reform and does not reflect any change in fundamentals for the group. blizzarded ac

julie?ing at the commute in silver spring, close off because of a deadly crash on georgia avenue it connecticut avenue and layhill road as your workaround so there's not too much of a delay building right now. it's still working in your favor. on those traveling inbound southern avenue, stalled trucks blocking the far right lane. tolls between the beltway in d.c., $7.75. westbound on the freeway, this is where we are checking southbound manent 95 for a car fire with problems in southeast. let's pull up the traffic land camera. the farwhere we have right lane closed off because of an incident. follow police direction in order to get by. back in 10 minutes and we will update the ride on 395. over to you. we have got four tickets with your name on them. rudolph the red nose reindeer is being brought to life at the gaylord national harbor. caller number seven, right now winning the tickets. right now a friendly competition at union station. o'shea and the marine corps collecting toys. how much m

in january, in july of 1873, july 14th, the final decision between seattle and tacoma was made and tacoma was selected an the terminal city, the choice for the conclusion of the line then was set up not only to be an arrival point for goods and travelers, but also for the arrival of the telegraph, which meant news and banking and communications. so the course of the transcontinental railroad was a big deal for the far west. the reason tacoma was pickeded by the np, there's a multitude of reasons. primary, first of all, it's an absolutely perfect harbor. especially for sailing vessels. but even today, it's an ideal harbor. deep water harbor. tide flaps and lots of area for wharfs. nearby solid bedrock ground, which would carry the weight of o freight and railroads so you could bring the train right up to the dock and be able to load goods out of and on the ships. so that was part of it. frank ly, another reason was tht the railroad was built on land grants. the federal government basically divided the whole route into, into square mile blocks and surveyed it and the rail rode g road got li

julie: 44%. ed: i like that.ontract and limitations in and around 1000 contracts, consideration on the settlement process, from the fia's perspective, i think it is a little unfair in that we have been vocal and out in the open that this has been about six months of work bringing this to market, not the overnight self certification that was written in the letter. this is months and months of work about six months. vonnie: you said yourself a few minutes ago that you are a reformed trader yourself. ed: recovering. whyie: i'm going to ask you there is such a huge premium, trading at 18,200 for a futures contract that is not even that far in the future. ed: we are looking at the premium around trying to pick a settlement price in the future, and that highly volatile underline. i think that might come in. i think arbitrage will close that gap, but it will be days and weeks. there is much to learn. i think it is a great deal from a liquidity price perspective to see what is to come in the coming days. with it beingg e

julie, how are the roads looking? julie: we definitely have hands full and some delays here for those continuing inbound along montana. this is where you will find the slowdown. heads heads-up from south dakota avenue headed inbound towards the third street tunnel with slow traffic inbound on 66 area ride towards the beltway, this is where we had accident activity blocking the far right name. keeping you on the brakes out of the m a and oakton. northbound route one in woodbridge, approaching interstate 95, a crash blocking the far left lane. we will give you an update on the right along 270. autria? a massive wildfire in southern california is being blamed for at least one death. adrianna: that's right, that fire has exploded overnight. we just got are now burning. the blaze is being fueled by heavy winds. throughout the night, hundreds of people were fleeing their homes. that one person was killed in a traffic accident and a road was closed because of the fire. two buildings have been destroyed and 800 homes are in h

julie: good morning to you, suzanne.ll be university boulevard that you want to use as a workaround to avoid that closure. 95, thenia, northbound crash at opus boulevard -- opitz boulevard. york avenue at bladensburg road. at kenilworth avenue, there is the clash -- crash blocking the right side. westbound 50 as you approach eight sinclair, this is where we find the -- cape sinclair, this is where we find the tractor-trailer. they are getting by single file to the right. , i justr to the map want to show you the bw parkway which is still on the brakes. only the left lane getting by. i am back within the next 10 minutes to update your commute out of 270. , it is cold and you say it will only get colder? veronica: plenty of cold coming our way. cold this morning, colder than yesterday. montgomery county, loudoun county seeing sunshine early this morning. reddick and leonardtown seeing the clouds because they are lingering off the coast. as youty at 35 degrees are seeing that clearing sky. with just shy of 50, but again som