i'm melissa lee coming to you. on the desk, tim, steve, courtney, and guy. we start off with another historic run for the market. the s&p's late day pullback to lock in its eighth straight week of gains, longest winning streak since november 2017. the index now less than a percent from its closing high. it and the nasdaq up 8 weeks in a row. while it's ban strong year for markets, not everyone came along with the ride. home builders, tech, seeing outsized gains this year. utilities, regional banks, energy stocks and staples all far under perform the market. are the laggards due for a comeback in the new year or will the same leadership continue in 2024? we've seen handsome rotation in weeks. guy, can that continue? >> hard for the leadership this year to have the same type of year we've seen next year. but these stocks have been unbelievable. congrats to everybody that has been bullish. i will say, energy i think is under appreciated in terms of what's going on. valuations and sort of the tailwinds. i think the space has. warren buffet up to 28% in occi spec

i'm melissa lee, coming to you live from studio b at the nasdaq. on the desk tonight -- steve grass soap, karen finer man, dan nathan, and chris verrone. we start off with the pivot party rolling on on wall street. the dow hitting another all-time high during the session, ending the day with a record close. the s&p and nasdaq eking out gains, though they all closed well off their highs of the day. the big winner might be the small cap russell 2,000, which jumped 3%. but the real story of the market may lie not with the stock rally, but with the dollar's drop. falling another percent today to hit its lowest level since july. it is now down more than 5% from its october highs. so, what does this dollar decline say about the markets and the economy? chris, you brought this up in our mid-day call, we thought it was really interesting. the dollar is telling a different story. >> yeah, i think it's ironic as we get this pivot from powell, the dollar just falling out of bed, slicing through 103 on dxy. we've seen euro firm, yen, that's the big story from

>> always pressure on this show, melissa lee. i think it's -- so if you go into the premise that our economy is driven by people buying things, people having jobs, people buying things, people buy things on credit. well bank credit has been contracting for the last couple years and starting to move in a pretty noticeable way. i think that's concerning, especially when you couple that with the fact, and we'll know about this within a few hours, the unemployment rate that i think will start ticking higher in a stair-step way higher which the federal reserve wants. if bank credit is contracting, people starting to lose their jobs, in my opinion, it can't go well for the economy and the stock market. you will say, correctly, that you've had these concerns for a while. you're 100% right, melissa, and it hasn't manifested now -- >> what game are we playing now -- >> i use the word inevident pbl. >> i have a question about the statement. does it include mortgage debt? >> it's interesting. >> there would be a drop-off because people are

i'm melissa lee. on the desk tonight, tim seymour, dan nathan, and guy adami. and we start off with the latest sign that the great rotation may be under way. big tech stops dropping to kick off the week. meta leading the losses, down more than 2%. the so-called magnificent seven losing $160 billion in market cap just today. but the broader market seemed to respond to the megacap selloff with a big shrug. all three major averages finished the day in the green with the s&p with its highest cl close since march 2022. so, what can we glean from this great rotation in the markets? now, first of all -- >> hmm. >> you notice a little different look today. >> what's going on today? >> something looks awesome. >> the network got a big graphics redesign. new charts, ticker, everything. same traders. all part of an effort to make -- >> bummer. >> bigger, bolder, and easier to understand, so, we hope you like it. we think it looks amazing. but -- guy? >> people at home saying, you should have gotten rid of that jerk of adami and kept the graphics. probably right. it's very

i'm melissa lee, coming to you from studio b at the nasdaq. welcome. and we start off with nike swooshing lower. the sports apparel giant warning of weaker revenue going forward. it announced plans to cut $2 billion in costs over three years. the earnings call just kicking off. sara eisen has the very latest. sara? >> hi, melissa. this is a bit of a good news/bad news situation for investors. on the good news front, nike's really ramping up the profitability here. that was evident in the numbers and the comments in the release. $1.03 was a big beat. gross margins came in, as well. you mentioned the cost savings plan, $2 billion. they say they're going to do that by similarplifying product assortment, streamlining organization, ie job cuts. and leveraging scale, nike says, to drive greater efficiency. in the release, this is unusual, the cfo matt friend is quoted by saying, we are shifting toward more profitable growth as we look ahead to a softer second half revenue outlook. those comments, you think, getting a lot of attention, because they are warnin

melissa lee coming to you live from studio bf in and nasdaq on the desk tonight. courtney garcia, looking back. i almost renamed you. and we start with a historic week for markets. the main driver today, the doubt managed to record close for the third straight session. it is up 13% from october lowe's. the nasdaq is up nearly 18%. all three indices closing out their second straight week of gains, even with today's slight loss, the s&p put on the longest winning streak since october 2017. how long can this seemingly hated rally keep rolling on? of course, the other backdrop to today's action, we had two fed speakers today, tim. >> dialback. >> just a little. it did not really work. >> when we got those stop clocks early in the week, and i know people glaze over about this tough, because we have been doing it so long, there were no dots hired and today. all the two happenings significantly lower than last year. say what you want, we have that look into the room. we have a pretty good understanding. back to the markets. this has been historic by a lot of different me

ready to rap about the regional i'm melissa lee. on the desk,teve grasso, bonawyn eison and michael khouw. supersized losses today. the the stock falling more than 5% to its lowest level since march 2020 after they announced they're pullg the plug on their weight loss pill. they say patientstruggle to deal with the side effect os thisedicine. for the year, down 43%. badly lagging its obesity drug rivals. eli lilly and norvo nordisk. >>fizer's ambitionin the obesity space falling behind after the drug caused gh rates of side effects for trial participants. more than 70% reported nausea, half experienced vomiting, and a arter experienced -- that in addition tthe side effects for too much to overcome. pfizer says it will keep working on a once daily formulation of this pill. the company is expecting data on this in the first half of next year. it still puts pfizer further >> what's the difference between the once daily formulation, which is a time release formulation and twice daily? why will it yield different side effects? maybe fewe

i'm melissa lee. on the desk tonight, tim seymour, karen finerman, guy adami, and guest trader rebecca patterson. and we're waiting for president biden to begin a news conference with ukrainian president zelenskyy. we'll go do that -- actually, we're going to stay right here, because we are expecting this to happen any moment now. we're just discussing before, the reaction when we started this war, when -- not we started, we started funding the war, the war started happening, oil went higher. if we knew the war was going to end tomorrow, what do you think the reaction would be, rebecca? >> i mean, a lot of it will depend on how the war ends tomorrow. let's just say funding winds down, there's some agreement between the two sides, i think knee-jerk, at least, you're going to see materials higher. literally picks and shovels, because there's a huge amount of reconstruction to happen. there's a big question in my mind who pays for that. >> karen? >> along the same lines, the knee-jerk reaction when we go

i'm tyler mathieson in for melissa lee, glad you could join us, coming to you live from studio b at the nasdaq. on the desk tonight, steve grasso, good to see you, steve. karen finerman, guy adami, and julie biel joins us remotely. we start with a sharp late-day selloff. the dow dropping 476 points, with every member, everyone, down on the session. it was its worst percentage loss since way back on october 3rd, and all that after the index had notched a new intraday record ear earlier in the day. all three now the red for the week, puing them in danger i snapping a seven-weerun of winning performance. every s&p sector lower on the day. consumer staples, energy, discretionary, biggest losers there. and take a look at treasuries. the yield on the ten-year dropped as low as 3.85%. that's the lowest it has been nce late july. so, was all thisction just a run we've had, or is there more maybe trouble brewing under the surface here. guy? is there anything to really worry about here? >> well, i've been worried incorrectly for awhile, so, i'm probably the wrong person to ask you, but steve, kar

take a look at our very own melissa lee, today in "the wall street journal", part of our live ambitiously cnbc. a great month for melissa. "fast money" on the billboard on the west side highway here in new york city and now "the wall street journal." congratulations to melissa and all. >>> time for the final trade. let's go arne thound the horn. mike? >> yeah, we talked about financials, they're going to be reporting on the 16th of j january, i like goldman sachs. >> chris? >> communications space. xlc, great growth. great opportunity, great momentum. >> communications. courtney? >> the rotation to value, i like at exxon. >> looking at exxon. and mr. grasso? >> servicenow, full disclosure, bill mcdermott, a good friend of mine. a hidden a.i. play. >> all right, thank you for watching "fast money." "mad money" with jim cramer starts right now. >>> my mission is simple, to make you money. i am here to level the playing field for all investors. i promise to help you find it. mad money starts now. >> hey, i am cramer. welcome to mad money. i am just trying to help you make money. my job is to

. >>> i'm dominic khiew in for melissa lee coming to you from studio b at the nasdaq market site on the desk, steve grasso, carter worth, julie beal and bonowin iso. we begin with a winning year in the books. a mostly mellow day on wall street with the major averages slightly lower for the year the dow ending below record highs, up nearly 14%. if that wasn't enough, the s&p 500 within a whisper of the record high and the nasdaq seeing its best yearly percentage gain in 20 years. yet it is still 6% below its all-time closing high. one of 2023's most notable performances has been the nasdaq #00, the big tech index having its best year since the dot-com bubble in 1999 believer or not suring by almost 54% t nvidia rallying 239%. meta platform ripping 194% tesla, jumping 102%. amazon up a paltry 81% google, microsoft, apple also having big years, up about 50% or more for those mega cap names. it is a year that exceeded a lot of expectations. so where can the markets go from here given that setup? steve grasso, since you are here on my right-hand side site we'll start with you >> right here o

face off on this year's leaders and lag guards and who will win in 2024 i'm tyler mathieson in for melissa lee. glad you can join us, coming to you live from studio b at the nasdaq market site on the desk tonight -- tim seymour at an undisclosed location, karen finerman to my right, dan nathan, and guy adami, as well the s&p rising nearly 0.6%, closing less than a percentage point from its all-time high the benchmark index is up nearly 16% from its october lows. and is almost 25% higher on the year meanwhile, the dow closed at its own record for a fifth day in a row. the small cap russell 2,000 led the charge, though, settling at its best level since august of 2022 the question now is, is it too late to get onboard with this bull rally or is there more eam left in the engine guy, are investors -- >> hello, tyr. >> hello, sir, thank you for the beverage that you gave to me i'm delighted to have it much from the fed next year?o >> that's a great question i think the answer is yes, but i would have said that 20% ago o so in the s&p 500, that would have been incorrect. the market is now up in 16%

i'm tyler mathieson, everyone, in for melissa lee tonight. so glad you could join us, coming to you live from studio b upstairs at the nasdaq. on the desk tonight, steve grasso, courtney garcia, mike khouw is remote, and guest trader stuart kaiser from citi. we start with a major league fight over the explosion of a.i. and just how all that data being coll collected by engines like chatgpt and bard are being scrapped -- rather, i should say, scraped from the web. one major news organization is crying foul, and it could have major implications for a.i. as we head into the new year. cnbc's steve kovach reports. >> hey, tyler. yeah, "the new york times" sued openai and microsoft today, alleging they used copyrighted material to train their a.i. models. the examples shows are quite egregious and it is evident that chat bot basically plaguerizes articles from the news outlet. "the times" says in the lawsuit seeking damages worth billions, but not specific on the exact amount they're seeking. "new york times" also reported today the outlet approach

i'm melissa lee, coming to you live from studio b at the nasdaq. on the desk tonight -- tim seymour, karen finerman, dan nathan, and steve grasso. we start off with a bold prediction from the ceo of semi giant amd. lisa su saying the market for so-called a.i. accelerator chips could hit $400 billion in just the next fuhr years. that's double the estimate she gave just in august. the comments coming as amd unveiled its hotly anticipated mi-300 chip line. shares of the company up 4% earlier in the day, but closed down over a percent. kristina partsinevelos spoke with the ceo on "overtime." she's got all the headlines. hey, kristina. >> hi, melissa. the selling off may just be sell the news kind of event. but amd actually launched two versions of their a.i. chip, the x for cloud users, the a for super computers, as well as open source software which they hope will be a great compete for nvidia. the market is growing much faster than anticipated, according to lisa su, and that's why amd doubled their tote al addressable market. with that demand, you'd

i'm melissa lee, coming to you live from studio b at the nasdaq. on the desk tonight -- tim seymour, karen finerman, guy adami and julie biel. we start with the american express ceo saying consumers may be more skittish. shares down 4% midday. on the other hand, bank of america saying he thinks the consumer is in pretty decent shape. listen to what he told cnbc earlier today. >> for the primed american consumer, they're employed, earning money. now, is inflation tough on certain segments of the economy, absolutely. and that's what you're seeing how i feel versus what i do. and how i feel is, i feel inflation, i'm reading about it, everything is more expensive, what i'm doing, i'm going to concerts, i'm spending money, 7% in november higher than last november, to give you a sense. and so, the way consumers are spending money is leveling out, but all in all, in pretty decent shape. >> so, who has it right? guy? >> maybe they both do. maybe brian mine than has a window into his client and then american express, obviously, something else. i would obvio

i'm melissa lee, coming you to at studio b from the nasdaq. we start off with the cover that may have just signaled the top to this year's a.i. boom. baron's lsaying nvidia is still undervalued. that even as shares have more than tripled this year, but since hitting an all-time high just two weeks ago, shares have pulled back 10%, and just today, nvidia fell more than 2.5%. alphabet, microsoft, the other big players in the a.i. race seeing bigger losses in the broader markets. so, is this the latest hot trend to suffer the cover story curse? will spending in the space justify this year's rally? and more to come, perhaps, as the bulls in a.i. will say. >> like being on the cover of "sports illustrated," the "madden" curse. nvidia stock closed on the day, 485, went north of $515, only to trade below 400 in the next couple months. same setup this time. traded right up to 485, krilted 500, here we are now. let's be clear, nvidia is an extraordinarily important company. we have said that. the stock is being rewarded in almost an obscene way in term

in more melissa lee, i'm tyler mathieson. on the desk tonight, carter worth, karen finerman, dan nathan, guy adami. don't let me fail here. >> of course not. >> cover my back. keep me propped up. >> always. >> historic close on wall street today. all kinds of records, both all-time and for the year. the path 52 weeks. the dow rallying 500 points. it was flat at 2:00, folks. 500 points at the close higher, closing above 37,000 for the first time ever. nasdaq -- s&p 500, naz tasdaq u more than a percent. news coming after jerome powell signaled multiple rate cuts are on tap for next year. that news sent the benchmark ten-year treasury yield tumbling to within a basis point of a three handle. 4.016. rates now at their lowest since mid-august. and check out the moves in some of the most rate sensitive market groups. regional banks. big banks, home construction. and ark innovation etf all outpacing the broader market with gains of almost 6% in the case of regional banks and ark innovation nearly 4%. cnbc's senior economics reporte

melissa, thank you. >> linsey: millions in the northeast are bracing for potential flooding and a dangerous commute on monday morning. let's go to lee goldberg what can we expect tonight? >> reporter: linsey, this is a full spectrum storm. everything from severe weather to snow. the hudson behind me calm now, will be probably white caps in just a few hours as we get into the brunt of the storm. on radar, rain up and down the coast with severe weather in the care cars early. now we're focused on the northeast. look at the flood alerts from baltimore to bangor, maine. high wind alerts along the coast, and inland, we could get up to a foot of snow in upstate new york and new england. the timing. new york city, get ready at 10:00, very heavy rain and gusty winds. over the overnight, a fire hose is going to set up from long island, connecticut, rhode island, and central mass. and boston, this is your morning commute. very heavy rainfall and gusty winds. could gust to 60. cape cod up to the maine coast, and look at the inland snow, and finally, it begins to pull out. allow for a lot of delay in the morning hours. have your mobile alerts o

sheila jackson lee has not made a decision about whether or not to run for her current seat in congress. now to your voices, melissaeveland, tennessee, democrat. hi. caller: good morning. how are you guys? i guess the policy that i'm really concerned about right now, women's rights, particularly reproductive rights. there a lawsuit in texas going on right now of a woman who is 20 weeks present -- pregnant, has a baby that will die almost immediately after birth from a rare condition, and has been trying to get permission to seek an abortion in the state of texas, because, you know, it requires that, and that she is not able to get an abortion, she says it will impair her ability to have children in the future, and it will affect her her rest of her life. host: that also, melissa, what is your view on that? caller: my view on that, as a woman, i'm sick and tired of government officials thinking that because i am a woman, somehow i deserve fewer rights. if a man wants to, you know, did a woman pregnant and then abandon her and not pay child support, he is legally allowed to do that. i mean, he could potentially go to