it was lennar development pending right off of 24th street it is last week, a double insult i felt iad to come down here i'm sure there is a lot of money on the other side i felt i had to be part of conscious of this city and speak on behalf of as one member of the arts community that is mostly living in oakland i mean, we're all leaving our musicians and artists come in and place shows they're not living here anymore if this development is allowed to go through managed by this criminal company corporation it is really like a tip point for the mission people can't bear it we can't bear luxury apartment and condos being built right posed on cayuga 24 it is unacceptable there has to be ways this board has proposed developments thank you. >> thank you. >> next speaker, please. >> hi supervisor breed i'm suzy those burn my husband and i own glass key photo in the lower hate i'm here because i think this development i'm opposed to this development and building that is a gunmen fir aentrifier we have a mom and pop business you're losing our middle-class i'm parted of middle-class and gentr

shares of lennar down to $43.40. >>> and shares of clovis oncology got a lift today following the fda's approval of the drug maker's treatment for ovarian cancer. the medication intended to treat woman who have an advanced form of the disease and who have specific between mutations. shares surged more than 8.5% today to $40.48. >>> lands end has named a new ceo. jerome griffith. not bill griffith, former chief executive of tumi. he will succeed the company's two interim ceos. lands end shares rose nearly 4% to $17.75. >>> and boeing warned it may cut additional positions next year in an effort to cut costs. the aircraft maker said some of its cuts will be a part of a voluntary layoff program in one of its units but the company did not disclose how many jobs will be lost. shares rose to $156.18. >>> the share of the federal reserve has some encouraging words for new college graduates. the class of 2016 is entering the strongest job market in nearly a decade. steve liesman has more. >> reporter: janet yellen had a mid year machine for college students. stay in school and get that degree.

i like the fact lennar is up.ember housing companies just fell -- they've been off a cliff coming in. there's some good trends. but, again, i urge people to recognize that we have not much to really go on here. but we can keep taking things up. and some things don't want to go up. there was a note, a really good note out of suntrust facebook, instagram doing very well. no one cares. i would be careful, there's not a lot of news but a lot of stocks going higher. and i'm worried about this imf situation. the nationalists streak is not what -- we've had some periods in the world where there's been a great nationalistic streak and it's never been good for the world. it hasn't been. >> populism. >> nationalism. nationalism is something that had been the bane of the world from 1919 on. and i hate to see it. >> yeah. on a winning streak right now though, that's for sure. >> absolutely. >> disney far and away the top dow stock of the morning. index is up 20. let's get to bob pisani. hey, bob. >> good morning, carl. happy

brian kelly, any move on home builders, lennar? >> it's interesting.ou would think with higher rates, you would be probably bad for the home builders, and then last week, we saw that you had home -- housing starts fall below what were estimates and fall below a trend line. so this was an outlier and surprise. so the question you have, going into 2017, to me, the home builders set up similar to how the financials did last year, where this could be a big breakout trade if you have that economic growth that's going to push people into homes and maybe people are saying, hey, you know what, rates are rising and i have to grab that home. >> i had a dinner saturday night and spoke to a friend of mine who runs a rez detention firm and he said this is the first generation of people who think that 5% is an expensive mortgage. >> right. so it's moved a lot. >> right. i think this move, it's a big number as a percentage move of where rates are. but still, we're back to where we were last year. >> so you're not concerned. >> no. i'm not, really. the economy is bett

lennar beats estimates. and they sold more homes at higher prices trau sraug yo, and they closed the day at 1185. you like him, the trivago guy? >> i like the actor. i thought he was a nice guy. i find it all so weird. >> it is weird. >> and spooky. >> he's famous. he's like flo, the insurance lady. you know her, right? >> yeah. >> i like her. >> i do like her. >> i don't like him. >> she's charming. >> i like flo. >> they ties on the show, so i like -- >> they do? i like them. >> you know who else should ties, samsung. they plan to use rival batteries in their smart phones next year, and blackberry plans to open a autonomous driver center in canada today. they want in the race to develop self-driving technology. q & kpfplt. >>> global stock news this morning, we are watching shares of italian deep -- oh, do the pronunciation. >> paschi, >> they are trying to revolsolv the issue. >> it's needs to get revolved at some point. >>> and then goldman sachs to settle. comes after seven other banks agreed in pay to

regarding the recent board of supervisors action to accept the appeal of quatro that opposed the lennar project next door to this one question is why why are you going to go forward with that project when it effective the board of supervisors indicated that the eastern neighborhood eir was in effect obsolete and not relative to the development on shot well street not two standards for two different projects very important that the neighbors on shot well the inner mission neighbors i represent and some of whom were earlier here had to leave give an answer to that question we shouldn't go forward with that for environmental issues that are very critical to the quality of life, of the people that are will be directly impacted that live within a block or two of this development it is too tall, no parking, high density on a residential street you, you need to consider that, please thank you for your time. >> thank you, mr. weber. >> next speaker, please. >> i'm tommy i'm with the human rights committee we're total in support of this project and i want to is personally this is an issue that e

regarding the recent board of supervisors action to accept the appeal of quatro that opposed the lennar project next door to this one question is why why are you going to go forward with that project when it effective the board of supervisors indicated that the eastern neighborhood eir was in effect obsolete and not relative to the development on shot well street not two standards for two different projects very important that the neighbors on shot well the inner mission neighbors i represent and some of whom were earlier here had to leave give an answer to that question we shouldn't go forward with that for environmental issues that are very critical to the quality of life, of the people that are will be directly impacted that live within a block or two of this development it is too tall, no parking, high density on a residential street you, you need to consider that, please thank you for your time. >> thank you, mr. weber. >> next speaker, please. >> i'm tommy i'm with the human rights committee we're total in support of this project and i want to is personally this is an issue that e

horton, lennar, sales came out strong and speaking of building momentum, you have sectors from industrialso financials seeing a massive run-up since donald trump's big surprise win for president. how is the housing sector going to do under a real estate mogul? the head of the largest commercial real estate financing company in the country, whose stock has popped more than 20% since the election weighs in the on the future of real estate for president-elect trump. we're on 20-k watch here on "countdown." we'll be right back. your insurance company won't replace the full value of your totaled new car. the guy says you picked the wrong insurance plan. no, i picked the wrong insurance company. with liberty mutual new car replacement™, you won't have to worry about replacing your car because you'll get the full value back including depreciation. and if you have more than one liberty mutual policy, you qualify for a multi-policy discount, saving you money on your car and home coverage. call for a free quote today. liberty stands with you™. liberty mutual insurance. cheryl: okay, we've got some b

lennar beat on earnings. a good day for cancer related stocks.vis oncology getting approval for a new ovarian cancer drug and loxo also unveiling a cancer treatment. >>> back to the markets. the s&p 500 is now up a cool 10% so far this year. but now the question is, where will we be one year from today. dominic chu is making guarantees. i'm kidding. >> as a former mutual fund industry professional, i've learned to stay away from the g word. the markets could be going higher. but how much higher could they really go? not much further if you look at what wall street strategists think of. right now on cnbc.com, logon, we have a great story up, we polled 13 different wall street strategists and figured out what their year end forecasts are. we summarized them all. the median forecast, we have a 2325 s&p 500 by the end of the year. you're talking maybe 3% upside from current levels. projected out from this year, out to where we are, see a flat line. on the low end, 2280, the middle of the range where wells fargo thinks we could end. flat for the year.

i thinks th that's good for a business like lennar. >> i'm concerned about higher mortgage and the stockgree with you. i don't think -- a guest on this morning saying easy to get a loan. people have to recognize it is a second home is almost impossible to get a loan for. and there was a time in 2005, 2007, you were on your first home, you got the second loan. i failed. i said, guys, look, i'm good for it. like, we don't want to make that loan because of the regulators. >> focus on the high end where the consumer -- >> i'm saying that post trump it will change. >> think about the consumer, where it will be easy to get a loan. >> does that offset then some of the worries about rates ticking up and what it means? >> i think it does because i think that when you get turned down by a bank, it truly does stop the momentum of going forward. there is a real pause in the country every time you try to buy a house, and that is this whole financing issue, your fico score, people who are not doing that, you have to have a 730, 740. i'm not asking for 500. but the old day where they look at your balan

kb and lennar showing good news there. tough day for the mexican fastfood company. shareholders saying get new board members. e.coli, food-borne illness a issue or so, the company has not been able to revive strongly enough to satisfy shareholders. that weighed on chipotle today, guys. back to you. melissa: that is amazing. lori, thank you. gold settling at nine-month high, phil? what is driving it lower and how much further do you think it will fall? >> i think not that much further at least in the short term because we've come down so much. historically anytime you have a break like this, you get a little bit of a rebound. my best bet if you try to pick a bottom next week when the fed makes a decision on interest rates. that has been a major droving force on gold. stronger dollar, maybe we priced that in after they raised rates, maybe not are. that would be the time to look. what a day on oil. first down day in over four-days. a lot of news about opec production and russian production at very high levels. record high for opec. 30-year high in russia. that caused s

the home builders kb, lennar, toll and all the home builders had a good day, and the final one i'll mention for you now is taser. louisiana state police ordered 1500 body cameras, it was enough to help tasers' stock. up today, the big story is what we did not do, we did not get to 20,000. david: 30 points away from where we were yesterday in that race. connell, thank you very much. phil, oil is a factor when it came to the dow missing another milestone, a very surprise inventory report. lauren was just talking about that. what's the deal there? >> well, you know, oil always gets blamed, so the stock market doesn't do good. you're right. it was a bigger than expected build on the crude oil inventory of two billion barrels. i thought we were going to overcome that. if you look at demand on gasoline and distillus it was very, very strong, it was not to be. in nigeria, a planned strike in oil field fell apart. let's talk about natural gas real quick. this market is up over 10% in the after-market. a change in the weather forecast and the expectations that tomorrow, we're going to see a report t

you have other home builders like pulte, lennar, d.r. horton, kb homes.ome builders certainly a focus in today's trade, scott. back to you. >> thank you so much. steph, you got something here? >> the stock is down 7% year-to-date. it's lagged the market and group as well. there's nothing you can poke a hole in other than to say the macrogets harder as interest rates go up. what multiple are you going to pay for that? 13 times is not expensive at all, but in my view i think rates go higher and that puts the multiple cap here. >> you have the pattern since the summer of higher lows on each selloff. they sell it down to a slightly higher level before the buyers come in. that's construct their price action and what you want to see. i don't see a ton of resistance here until high 30s, low 40s. i think it's a relatively low risk entry. zroo we talked about this. i was doing a remote from minnesota just after the trump run, and he actually got elected. all that kind of thing. i brought up to you housing. i remember i'll never forget because diana ohlich hit me a

could you have picked another one, like lennar or tolle?ere something specifically about pulte? >> i think it's third inning, carter. but pulte first of all because this company is probably the best balance sheet and they were playing more defense. they were doing share buybacks. they were doing things to their inventory and things to their business model which meant they weren't going after volume growth, they were going after margin growth. i think this company is cheap to the peer. if you want to do a relative value trade, you do it against one of the peers. it's company and sector. >> let's see which guys are buying or selling. pete najarian, what do you say? >> timmy, i got to like timmy back. but it's not just because of that what i like about it -- i'm actually in beezer right now. what i wrote down you talked about some of the cash values and the yield. you look at all those, and i agree with you. as we start moving down, the environment gets better and better and better i think for housing. >> so you got one buyer, timmy. b.k.? >>

names like toll brothers, dr horton, lennar, pultegroup. >> thank you. >>> dow 20,000 watch continues will we get there? the uphill battle president-elect could face for his cabinet picks. >>> good day, i'm scott wapner. here is your cnbc news update. carrie fisher who rocketed to fame at the age of 19 when she played princess leia in the first "star wars" movie has died. fisher apparently suffered a heart attack friday aboard a plane. she was 60. >>> argentina's former president is accused of corruption in an indictment revealed today. in jakarta, the christian governor is accused ofsulting i. today, judges say the trial can go ahead. in houston, nba rookie onaraku tossed in his free throws underhanded, as it was done years go. that's our cnbc news update at this hour. back to you. >> a little rick barry action. >>> let's get a check on your market as the dow -- march to 20,000. still getting used to this. >> i think they look good. >> very nice. >> very distinguished. >> nicest thing you ever said to me. also the only nice thing you've ever said to me. >> that's not true. maybe almo

by a classmate to approach his bags from mexican mother was a documented family in wisconsin the lennar shoots the family that includes 11 adopted children from the u.s. and china and donna had they went home to say the race wars are on. it isn't only happening in wisconsin that across the country and it is deeply concerning to meet goes against the values that we will the americans. i have also heard from constituents in the immigrant community about the very real fear of potential anti-immigrant policies under the incoming administration. for example, effort from legal green card holders they are afraid to travel in the next few months because they fear that they may be turned away or subject to additional scrutiny when they return to the united states. so i want to ask you in connection with helping to reassure my constituents that to that that determines immigration status. i would like to hear about the training that year officers received on the treatment of individuals and the border patrol custody including harassment and discrimination. >> first of all, everything you describe

so a condition imposed on women are when the city granted them the permit was that lennar must include affordable housing and it is their responsibility to pay for it. the complicating factor here is that tida is saying we are the ones, not lennar taken on the responsibility to pay for the affordable housing and there's no way for us to recoup the money. that is what it sounds like from a press report. so the question is why is the city taking on the responsibility to pay for the affordable housing when it supposed to be the developer's responsibility to include and pay for the affordable housing component in their project? have within our been given special conditions? is when our special? if so, why? >> i think that we could have some of the-these questions be part of the report from bob beck because he can certainly talk to the issue of the board of supervisors that is at the board of supervisors right now and as usual the press does not always get the facts right but we will be hearing from bob on the issue of the funding for affordable housing which is certainly one of the biggest