ken rogoff and i up in new york.ee of us is that not come science, and basic schooling of science works. president-elect agrees with the upgrading the three of us had? bill: i don't know. when mr. trump talks, i am not sure he sticks with things he has said. is that accurate? he pulls back, changes his point of view. that's all good. the thing we are concerned about is who he hires to be around him. francine: right. bill: science and technology keeps the u.s. in the game. francine: good morning. what do we know about his commitment to innovation? this is the basis of the u.s. will you stick to it? -- will he stick to it? bill: i hope so because this is what use the u.s. in the game, our innovations, our ideas. you do not manufacture the iphone when you write the software. i am hopeful we will find a common ground economically, but what we really want in the science community is to start addressing climate change. climate change and energy policy and energy technology are intimately related. everybody really, this is

ken rogoff has been critical on how india has tactically imposed this reduction of cash.nto negative interest. abby joseph cohen, on our future with cash. are we going to be a cashless society? abby: not anytime soon. what we are seeing is a reluctance on the part of many people to give up their cash. and one of the issues now is not the theory about going cash less, it is the reality of cyber security. people's worry about the loss of their information, whether it is financial or other personal information. and i think that while we have seen a reduction in the use of currency in the united states, our currency, our large denominations, are used heavily in places like russia. tom: i look at all of this and the mixture of international relations and finance investment and economics, and i have to come back to one of the clarion moments of last year. i was deeply moved standing on the streets the morning after and the evening of june 24 in london, the shock of london over what has occurred. when you talk to your team at goldman sachs and you do your own thinking about what

scarlet: plus, is cash still ken -- harvard economist rogoff wrote a book about the sinister side of cash, and we might be seeing those effects in countries like india and venezuela. he will join us in the next hour. and 20 states to mylan and other generic drug makers of conspiring to raise drug prices. we will speak with the connecticut attorney general later this hour. let's get started with a check and where major indexes stand as we head toward the close. abigail doolittle is standing by. abigail: we have stocks trading higher into the close. the dow, s&p 500, and mastec are all higher, but it is worth noting the three averages, and various times early today had peaked with record closes. the nasdaq had been within less than two points of an all-time intraday record high. the strength for stocks -- it seems investors are digesting a little bit of excited trade here -- indecisive as well, uncommitted after the fed. speaking of the fed, of course, we are looking at rate hikes -- the first in a year about probably one of the most telegraphed rate hikes and certainly quite some time

ken rogoff spoke about this briefly yesterday. the green line is where we used to be.line, where we used to be. how do you spur investment incentives? how does president trump do that? martin: we have done that in the past with tax incentives. if you have a more favorable tax environment for investment, you will see more investment. investment tax credits, accelerated depreciation -- those are the kinds of things that have moved the investment rate. tom: you invented are most esteemed economic group, nber. martin: i did not invent it. tom: stop. i am telling people that you invented it and made it better. and then a guy down the river took it over. what would he say is the best tax incentive republicans can do in washington? invite jim toould come in. i think he and i would agree on these issues. i hate to put words in a colleague's mouth, but i think jim and i agree that taxes are an important situation to businesses. tom: do we need a director credit tax investment, ge, this, you willo get this direct investment tax credit? martin: we do that. we have very high tax r

ken rogoff on the curse of cash -- what he says hashes facilitating corruption and tax evasion in countriesr away from the close of trading. let's get a check on the markets. what happened to the vega rally? >> this question. we do have stopped -- stocks higher. we have stocks off of the highs earlier. a few of the major averages had been on pace for the record closes. right now, none of the major averages -- all three are on pace to finish below the previous record. stocks are higher. we hopped into the bloomberg and looked at a really great function, the s&p 500 group rank returns. this is another way of looking at sector performance. we see a lot of green here. on top is the energy sector. it is really the financial sector that is boosting today, the most, in the expectation rates will continue to rise. we look at the banks. we see lots of strength there, including bank of america, jp morgan, and wells fargo. jpmorgan is on pace for a record high. bank of america was upgraded to outperform over at raymond james. michael rose says he sees this as a proxy for the economy, and he sees "bett