>> what does merck have to do in your view, though? the earnings disappointment, in combination with another drug. now what >> easy answer i think what we will see going forward in 2018, we will start to see the pharmaceutical space start to do some of the mao we're doing. >> finally >> we kicked it off with gilyard a bit, and pfizer -- >> i mean, how does the stock -- >> up $12 billion in market cap -- well over a week or so. >> their second biggest drug, i think gentlemjanuvia is number . now it's happened, so you have to ask yourself the question, what is the right valuation. 1267 1/2 times forward earnings, does it make sense i'm sort of in pete's camp >>> next guest says stay far art. about to get worse for big pharma, so listen up, pete and guy. hi, carter. >> it's a curious thing, we know that health care is the second best performing for the year, and yes pharma is really dogging, up only 7%. let's look at facts and figures and then drill down. this sub-industry group of the s&p has a total of nine stocks, we know that it repre

the results were not a positive, though, for rival merck, which already has a drug used to treat lung cancer. merck shares fell by nearly 2% as investors reacted to this news that a new contenter could be entering the market. shares closed at 54.10. >>> activist hedge fund jana partners disclosed a nearly 9% stake in outback steakhouse owner. jana said the shares were undervalued and represents as active investment opportunity. blumin' brands jumped 20%. and after the bell, urban outfitters said strong demand for the free people clotheling brand helped that company deliver better than expected quarterly results. it also cited a rise in online sales and approved apparel execution pretty much across all brands. shares rose, and ended the regular day up 1%, to 28.27. bill? >>> sue, as you know, oregon is trying to make saving for retirement just a bit easier. it's become the first state to roll out a plan that covers private sector workers who do not otherwise have access to a workplace saving 3r578. the deduction is an automatic 5% unless the worker opts out. savings is one of the topic

not everywhere but many of us don't have that merck, and that will continue, but there is a change on, we still have a lot of cloud, mist and hill fog as well, but this line, that is a cold front, behind it, calderand brighter are moving into scotland and northern ireland. later in the morning, scotland, northern ireland, northern england, it will be beautiful and sunny, in the south it might cloud over in the afternoon. temperatures a lot colder, chilly are moving in from the north. by thursday evening, we are all in that clearair thursday evening, we are all in that clear air mass which means that on friday for many of us it will be a chilly, but beautiful sunny day. you're watching beyond one hundred days. it looks like a coup, it sounds like a coup — zimbabwe's army insists it isn't. but it has seized control of the country and put president mugabe under house arrest — is this the end of his 37 year rule? the military blocks access to government buildings, while soldiers take over the national broadcaster — we've the latest from zimbabwe. as a conservative american politician you

says it's already secured investment of up to 1 billion pounds by the drugs company msd, known as merckus. advance manufacturing, like 3—d printing, will also come in for special attention, as will britain's creative industries such as movie and tv production. nuclear power will also be part of the strategy. and the government wants to make sure the country leads the field in the production of low emission vehicles. with me isjonathan portes, professor of economics at king's college london. good to see you again. what do you make of the industrial strategy?” think the basic philosophy, the idea we should pick, not individualfirms but broad factors that we are good at and concentrate on showing the government is doing everything it can through money regulation to help them makes a lot of sense. however, this isn't going to kickstart the economy. this is a long, slow process. indeed, this industrial strategy in this basic approach is very similar to the one we had for the labour government and the one we had from george osborne under the coalition government. a lot of continuity here. it

that is good news for roche, but bad news for merck. merck is at 52-week low.oing up. >>> now this. hillary clinton won't quit talking about president trump. >> i will keep speaking out. apparently my former opponent is obsessed with my speaking out. [laughter] apparently there was another, somebody told me tweet today. honestly, between tweeting and golfing how does he get anything done? i don't understand it. stuart: notice the body language of bill clinton. he didn't look rael happy what he said. man on the screen, corey lewandoski, former campaign manager of mr. trump. i say what hillary is saying these days, well over a year after the election, i think that is good for republicans. i think it is good for president trump. what say you? >> stuart, i have to agree with you. you have to remember hillary clinton is still probably the defacto head of the democratic party. she was terrible candidate. they're a rudderless ship. they have nobody who is leading them. they are a party now on the two coasts, east and west coast. they have given up on middle america. t

i can recall merck doubling the stock, just doubling when the sales came through and ever since i'veeen looking for the next drug. that's very important because what you want to avoid say company that has only one or maybe two drugs in the pipeline then one day might or might not be approved for use by the fda, anything like that could be too risky for you from the bioteches with know this. the ones that never got approval and ended up limping along forever until they were put out of their misery. i've had tremendous success isolating these kinds of companies, the good ones whether it's bristol-meyers, or regen region with its terrific drugs. it's one of the most important kind of stories you own and you should always be on the lookout for the breakout. in the last few years, my research director jack moore and i have found two situations that fit the rubric. now there are couple things you need to know about alzheimer's. millions upon millions of people suffer and will suffer from it. second is there is no serious treatment that can hold the disease off or maintain it at acceptable

biggest loser was merck. we'll have more on those stories later. s&p, biggest winner, delphi automotive biggest loser, incyte corp. >>> janet yellen submitted her resignation today, will take effect upon the swearing in of jay powell mike, i'm curious if there's market implications to be drawn from the fact she won't stay on after jepowell is sworn in >> i don't know if there's any jarring implications i think the probabilities where she would not stay on as just a governor, although i think it brings a large er point into focus which is there really a lot of vacancies, go ing ing to be one more aftere leaves there's a lot to do to remake that committee at this point i think that has the potential for swaying opinion on what the fed's going to do once those appointments are made. >> yeah, jim, what would you -- >> there are four open seats we have a president and the president is listening to sort of a right-wing conspiracy sort of organization that believes the fed should be disbanded. and we've seen him put people in positions like epa -- >> okay

but vatican spokesperson greg merck told us that the vatican is going cold turkey. >> i think it is quiter that we don't want to be contributing to something that is harming peoples health either our own employees or others but that is not the right signal to be sending, smoke signal if you want. >> reporter: vatican would not specify how much is being who in terms of the revenue from stopping the sale of cigarettes but greg merck told us it is not an insignificant figure. seth down, cbs news, rome. >>> stale head on cbs-3 "eyewitness news" this saturday morning, it is not unusual to already here christmas music playing, right but could those familiar tunes be doing more harm then good. why one doctors say hold off on the holiday jim also. >>> also ahead the cold just can't stop high school football, can it? leslie van arsdal have a wrap up of friday football frenzy in sports. >>> a frigid start to the weekend but how long will these freezing temperatures stick around? hopefully in the long. chelsea ingram has the forecast when "eyewitness news" continues, we will be right >>> less than t

also merck and ibm. you can see ge was down 21% during that time. merck is down about 13%. interestingly enough, right at these levels of 338-point gains, a couple more points and this will be the best day of 2017. we will see in these last few minutes if we can clock in the best day of the year and it's all on the cane and the gop tax relief that seems to be going through and people love it. >> it certainly a great day. i wonder if any are circling that fabulous christmas tree outside. it's the official lighting of the wall street tree tonight. >> absolutely. we've had a lot of fun. ms. america is here in the harlem globetrotters and the police officer who conducted the arrest of the terrorists on the roadside. >> understand santa just walked by and we will wait to see that. thank you very much nicole. as we look at the closing bell about seven minutes away, i do have the dow at 24000. new york stock exchange is cheering on what i'm calling 24 karat gold day for the dow jones industrial with a little holiday celebration mixed in. when we come back sarge has some holiday st

african-american of merck. >> he quit his advisory -- >> exactly.ou know, also another merger going on, big merger, between sinclair broadcasting and -- >> let me guess. there are -- >> there are community groups mobilizing. not exactly this. that sinclair will have a disproportionate share and disproportional say on what is put on the air. >> sinclair happens to be pretty friendly with the trump world. >> pretty friendly with the trump world. >> i predict you'll have a story online in the next, i don't know pshgs , 60 minutes. new developments's can you tell us where this is heading? heading for a courtroom showdown? >> heading for a courtroom showdown unless cooler heads prevail and the justice department doesn't kind of press forward with this threat. but the companies are fully telling us they are ready to go to court. they believe they will win. they have the legal arguments on their side. again, because this is a vertical merger. you know, does the administration or does trump himself win either way? because the stock prices were affected toda

cfo andoined by merck's then speaking with munich re's cfo.his is bloomberg. ♪ matt: welcome back to bloomberg markets. this is the european open. imf miller in frankfurt. 50 minutes to go before the start of trading. we are getting a slew of earnings. came out with third-quarter adjusted ebitda. beats analyst estimates and that is the line that a lot of experts look at. its outlook for 2017 but sees the operating profit as a low end of guidance. joining us from where the company is based is marcus kuna . the lowyou looking at end of their range, were you disappointed in 2017? marcus: good morning. recalibration of our expectations for the performance materials business in our q2 earnings call in august. ofare facing a little bit different competitive situation in liquid crystals. was the main reason why we were adjusting our expectations for performance materials but we said we would overcome the challenges, we will compensate this on the level of the group and keep our guidance intact and have not changed the guidance on for the group. since

bristol meyers down 1%, merck down more than 2%.le of treating lung cancer with these new drugs. we often see the stocks moving on each other's data positive data negatively affecting bristol meyers and merck. affecting stocks of competitors in that space, bioverativ and shire, those lower, after a drug confirmed last week and sending those lower, too, bioverativ 7%, shire more than 8% back to you. >> thank you, meg terrell. >>> now for a look at what's coming up on "squawk alley." john >> troubling times in digital content. buzzfeed perhaps missing targets and facebook and google taking a huge share of the ad markets snap not doing so well, so what's this mean globally? we're going to talk to the chairman of vendi content and see what he says now coming up on "squawk alley". ♪ ♪ what we do every night is like something out of a strange dream. except that the next morning it all makes sense. to power global e-commerce fedex networks are massive, far-reaching and, yes... a little magical. fedex.com slash dream [ click ] [ keyboard cl

years or maybe ever the tax cut means for companies moving to america to stay in america to hire a merckrker's right here. the small business groups across the nation retailers, restaurants, a contractor supported this plan with tremendous support. because the massive tax cuts are rocket fuel. [laughter] fatah lil rocket man. he is a sick puppy. where is cassandra? she and her mother zero days to restore race here in st. charles make a really beautiful handmade jewelry and i got to see some of it. i will have taken in my previous life but they make a right here in the heartland. it is beautiful the tax plan will insure that she can keep growing per business and creating jobs giving back to the community to make her more and more successful. randy is also here. and the is a member of dozens of small businesses in the st. charles area he mentor is a lot of the businesses. he did a terrific job to renovate the old post office on main street and something that i know something about. did he do a good job? [applause] they said yes. he knows firsthand how the high tax burden is holding a small

there was hand wringing they didn't have designer drugs when pfizer and merck were making millions abbottas considered also ran within four years white released this answer to criticism, wonder drug for autoimmune conditions that went on to treat these diseases, miracle drug it's been one of the best-selling drugs on earth. hume era is best-selling drug on earth by a wide margin and miles white found it ability to take humira and turn into blockbuster drug today, transformed abbott into a leader kind of story that business schools will write case stories about for years. before i get tweets from people saying he didn't invent the drug, he did something almost as impressive, recognized the potential and bought it. ainquiring the company in 2001 humira, more than $16 billion in sales last year, what a steal. and white has proven himself to be brilliant in the industry in 2004 abbott spun off hospital supply business. we liked and recommended that stock. acquired a diabetes care company. forced to sell -- abbott snapped it up. took over kansas city, missouri pharmaceuticals, drug that rises

that came under pressure with dividend cut and restructuring merck, ibm, proctor & gamble. those are laggards of the last 1000 points. here are names that contributed to the dow in points adding more than 500 points. just these names alone. 3m, unitedhealth and boeing. apple closed at 171.85. what did this rally come from? all on idea of tax relief, right? that really boosted market and boosted transport as well because airlines and truckers will do better with a better corporate tax rate. southwest, union pacific, fedex jumped today. a slew of names on the dow hit all-time highs. home depot, jpmorgan, unitedhealth, american express. 3m, liz on record day of wall street. we had a beautiful tree lighting outside. tons of entertainment here. big celebration for the big board, into the holidays. liz. liz: missing your santa claus hat. nicole, next time bring it on. good to see you, nicole. >>> the senate debate on tax cuts underway. votes come early as it night. we're all over the story. it could be a major legislative victory for president trump. republican senators confident

and merck at 55 points and proctor and gamble at 24 points and chevron 21 points.the s&p 500 and we went straight up from there we moved up more than 50 points. everybody is out there debating oh, is there any premiums for the market for tax cuts. i don't know what chart they are reading, it is clear to me there is some kind of premiums for the par market right now the question is how much more will there be at this point? >> thank you very much according to ups, the rally is not likely to en the company is releasing its 2018 investment play book not to bail out of the market too early. mike ryan, cio of the america's at ups michael, welcome, it is good to have you with us >> thank you >> lets start with tax reform. you say that it could boost up u.s. earnings per share by up to 10%. looks like your assumption of what the tax rate would be for corporations of 25% compared with the 20% that is in the current bills. do you think that's where it ends up or are uyou making a conservative estimate there? >> well, we think that when you get us through the reck reconcilia

we are looking at merck, bristol-myers and astrazeneca.o the pricing pressure that comes with it. with hemophilia, the main competitor is shire. sherry: taylor riggs, thank you so much. president trump said today he will designate north korea a space sponsor of terrorism suggesting the regime to additional sanctions. more about the strategy in the region is gordon chang. he is the author of nuclear showdown. thank for coming into the studio. now that north korea will be sponsor of state terrorism, would this be more of a symbolic move or can we see some real tangible effects and repercussions? gordon: it is mostly symbolic. if you go back to test it pronk's -- president trump's a real sanction. there are things that come with this designation. there have artie been sanctions. we cannot sell them weapons on a terrorism -- of state sponsor of terrorism. there are some things, but this is mostly symbolic. david: are we seeing anything work with north korea in the sense of changing their behavior? gordon: no, we haven't. we have to cross on no

it may seem like a big merck. big merck, but mercks have a way of disappearing in the end. >> resist has turned into running and voting. >> bob costa, good morning. harold ford. how are democrats interpreting -- obviously there's got to be some glee and joy, but what are the lessons you're hearing from democrats talk about that they're going to take from this victory in virginia? and, two, is it likelier or less likelier that can support some tax bill, tax cuts, tax reform, whatever it might be called after the virginia race? >> congressman, i called up senator bob casey of pennsylvania yesterday and i said how do you see this? he said, look, i'm pleased with the developments of the party, in the suburbs we're winning back voters getting skittish about president trump. said hold on celebration if you are democrat, because he thinks democrats in pennsylvania and elsewhere still need to do a better job of reaching out to voters in small towns and rural areas, they see the beginnings of a new democratic coalition of

of the new york symptom exchange, dad his secretary to track down lee york the head of the chicago merck. fallen could see how the day was shaping up and it made even the worst fears of friday night look optimistic. tokyo had fallen sharply overnight as traders react teed the epic decline on friday. the hong kong market plunged so far and so fast that officials there decided to close the doors completely. london was down ten% in part because of $90 million worth of sell orders from the trading desk at fidelity investment in boston. fidelity's $9 billion magellan fun was the largest stock mutt to all fund the country. chilling to see how much would try to sell when he big board opened. traders predicted the dow could drop my 9%, stayingerring figure divide the record-setting 108-pointless on friday. he new york symptom exchange dot system was watched with orders. many from index arbitragers. specialists were struggle to find a place to open trading, task as difficult as dealing with a del luge of closing bell orders. they sell orders like never were, fallen said, saying looks like a very

that is down, merck, ibm were laggards. the night of the election we dropped over 800 points. we all reported on it. we were at 17,000 and change. we broke through 18,000 and then blew through, and now we have 24,000. and they're already printing 25,000 because they can see that coming. quickly look at some transports. this group in particular, airlines and truckers will do so much better with more favorable corporate tax rate. take a look at southwest airlines, union pacific, fedex, j.b. hunt. these names gained between two and 4% today. record day. back to you guys. melissa: nicole, thank you so much. connell: we knew we would have a presidential tweet or tweets to mark a day like this. here is one. the dow just broke 24,000 for the first time tweeted president earlier, another all-time high. if the deeps had won the presidential election the market would be down 50% from these levels and consumer confidence also at all-time high would be low and glum. on the panel today, scott martin, kings views asset management, neither low or glum we believe. kevin kelly, upbeat from ben

like it's not going to disrupt the distributors so much as provide a service for drug companies like merck, interestingly. >> it is interesting there is an attack on this part of the food chain and pharmaceuticals in general everybody knows it's a huge market to go through >>> that's it for us happy thanksgiving >> happy thanksgiving. "closing bell" is "fast money" starts right now. >>> live from the nasdaq market site overlooking new york city's times square i'm melissa lee. tonight on "fast," it's an amazon takeover. tech guru and "fast money" friend roger mcnamee will be here to talk about how high he sees the stock going >>> plus the man who called the market rally says there's one thing keeping him up at night. marco colon marco kolanovic will be here >>> black friday retailers are probably dreaming of something like this. ♪ you know the days of black fridays past when people would literally lose their minds, trample over over here to get the newest tv, moms would threaten mortal combat if you dared take the last beanie baby or furby off the shelves but the reality is black friday may

lisa merck cows ski, the senate from alaska late last night, said she wants the senate and congress to deal with the murray-alexander fix to the affordable care act and stablize the insurance markets. before she commits to voting yes on this. there will be a lot of back-room dealing and negotiating before we get to final vote. trish? trish: indeed there will be. thank you very much, adam. that was quite something that exchange. joining me "bullseye brief" founder, adam johnson. james freeman from the "wall street journal" editorial page. senator hatch is right. orrin hatch is right. it is not correct to say, that this is not going to hurt the wealthy because, in fact, adam johnson, it is going to hurt anybody who earns a lot of money. they will pay more in tax. why can't the democrats understand that? >> well you know, it is talking points after talking points. if you torture the numbers long enough they will tell you the story you want to hear. the democrats are really holding on very tight to this notion, if you look at incomes between 20 and $30,000, they might actually pay more. tr

the merck reports they have $800 million in liability insurance. multiple lawsuits place blame on pg&e. some blame aging equipment and vegetation management practices as factors in the disaster. nbc bay area's investigative unit first revealed both problems and the findings are krielted in at least -- >> reportedly pay less when it comes to catastrophic flood insurance. fema has upgraded parts of unincorporated marin county in its latest scoring of flood-prone areas. homeowners will pay less for the national flood insurance premium. it amounts to savings of $106 per year. >>> today, recreational marijuana back on the agenda in san francisco. board of supervisors running out of time to get new rules on the books before pot comes legal in just four weeks. supervisors have been criticized for the delays. a vocal group of older residents are demanding an outright ban on new pot shops. there are proposals to keep pot shops 1,000 feet from schools. >>> supervisors are also holding a hearing on the sale of this building. we told you before the street was

verizon was the big gainer, although not today up 3.5% while merck was down 1.45%.ussell 2,000 started to participate. it was lagging since early october but today or this week it moved higher and set a few records there. oil, next week, next thursday is the big opec hemeeting and apparently we have a meeting between russia and opec to extend the cuts. we're a two-year high. last year it closed above $60 was in june of 2016. the two-year note continued higher, as well with the fed talking about raising interest rates next month, and that has been a one-year high although we're off that high today. look down a bit. the dollar continues lower rick sentelli keeps talking about this the dollar against the eros. $1.19 but the dollar index in the $2 range dominic chu is here with me along with mariana on the staff. she's the executive producer. >> she is. >> our boss. >> how are we doing today? are we okay? okay good. >> she's doing channel checks for us what's your favorite store to shop at during the holiday season where do you like to spend time when you're at the mall

always been 30 percent less then they are over the border near italy but vatican spokesperson greg merckn is going cold turkey. >> it is quite clear we don't want to be contributing to something that is harming peoples health, either our own employees or others but that is not the right signal to be sending, smoke signal if if you want. >> reporter: vatican would not specify how much is being who in terms of the revenue from stopping sale of cigarettes but as he told us it is in the an insignificant figure. seth down for cbs news, rome. >>> still to come on "eyewitness news" it is a condition that steals peoples memories and new their loved won can learn what it is like to walk in their shoes has a better way to understand devastating effects, off stephanie stahl shows us how it works. >>> holiday season is coming to life in philadelphia, coming up next we will take you to one of the first places to deck their halls this year, we will tell but all you can sianni do at franklin square: >>> and a frigid start to the weekend but how long will these sub freezing temperatures stick around, ch

he went after the ceo of merck after the charlottesville event.ne after jamil hill, marshawn lynch, steph curry. so i don't really get -- i understand why he's doing it politically. he thinks it's a winning move for his base. but this was -- there's so many other important things going on in this country and to wake up at 5:00 in the morning and send a tweet about lavar ball doesn't make any sense. >> ashley parker, you have any reporting on what set this off at this early hour? >> not particularly. but i can tell you often, what sets him off is something he has watched on tv. so something he's seen on "morning joe" or "f "fox & friends." there was a thought he used twitter as misdirection when he doesn't want to deal with roy moore accusers because it may remind people of his own accusers. i believe largely this is a president who cannot help himself and tweets what he is thinking in that moment. this was just on his mind when he woke up. >> charlie sikes, i am going to go on a limb and say, i assume you're a green bay packers fan? >> yes. >> is

jeremiah, this great chef and innovator and artist who changed the entire industry the way we eat in merck, that he hadn't been add quawtdly reddit-- credited for his accomplishments. just made me angry. >> rose: is that because he didn't get all the credit he deserved for slaiping these. >> yes, that is true. but he wasn't around, suddenly he wasn't around any more, history is written by the victors, it was easy for lazy journalists to have access to the people who were still around and it was not so easy to to have access. so he was knowingly written off. >> rose: knowingly. >> yeah. people knew better. they were there. >> rose: so what happened? so chez penice then starsz, then mexico. >> then i came to, no and did a couple of cook books, pbs shows. and then 9/11 i decided i probably should live-- there had been the earthquake and then terrorists, so i thought i had better go some place where there are no hurricanes or earthquake or terrorists, so i went to mexico to the beach. >> rose: and stayed for. >> oh, a long time, on and off, on and off but part of it was i thought to myself, yo

he will be getting married with american actress meghan merck elle.orning after announcing their engagement and you see the bling there on her left hand showing off a ring that has a personal touch. prince harry designed it himself and the smaller diamonds come from his mother diana's personal collection and we'll talk about the ring in just a second and the couple did their first interview as an engaged couple with the bbc and they entered a bunch of questions, like how did he pop the question? >> it was a koecozy night. what were we doing? just roasting chicken. >> trying to roast a chicken and it just -- it was just an amazing surprise. it was so sweet and natural and very romantic. he got on one knee. >> of course. >> was it an instant yes from you? >> yes. as a matter of fact, i could barely let you finish proposing -- can i say yes now? >> she didn't let me finish. can i say yes? and then i had the ring on my finger and i said can i give you the ring? oh, yes, the ring. it was a really nice moment and it was just the two of us and i think i mana

has a bigger market value than merck and nike. still there is a debate on wall street.b london is with us. i want to talk to i am about ge. i refer to it as your granddad's stock. in my generation and i'm a grand dad, it was the stock of the day. >> it's a very different kind of stock today. looking at it in the future you do not see the profit margins necessary for investment, however, if the stock goes down to 15 i think it is a buy. stuart: at 15? >> yeah, 15. but i mean it is remarkable. i don't think it is going there but it is possible. stuart: it is not, is this a stock that millenials should buy now? >> i don't think so. i can't see, millenials buying it. i don't think there is enough after profit margin. i think looking at stock over the future, i do not see a kind of a sanguine scenario. unless of course, as i said, it goes down and you start getting a buying surge. that is possible. stuart: okay. i always think that trying to get to the level of an amazon, google, microsoft, facebook, you're shaking your head. >> i don't see it. i don't see it. stuart: they w

. >> the merck diabetes franchise has family of products geared toward helping people living with typebetes >> between philadelphia and trenton, you have over 15% of those folks living with diabetes >> in the u.s. alone roughly 30 million people live with either type one or type two diabetes. >> your pancreas doesn't produce insulin. type two is a longer term slower progression >> the costs are significant. it has an impact on the individual and also the family member >> definitely change out there daily life. count carbs and make sure her blood sugar regular. it brought us together and made our family stronger >> over 100,000 i believe have stepped out to help these families >> i think it's important for all of us to think about how we can use our lives to give back to other, not just for the moment but for the five. >> great advice. any events coming up >> the american diabetes association has another event coming up in june. it's like the step-out walk except biking is an option. there will be more information online. >> perfect mall thank you >>> pump ken spice latte >> a man and w

. >>> also merck shares under pressure today the stock is now down 15% over the past

merck is at a 52-week low. schlumberger telecoms have been weak on some of the growth. we talking about this change in tone it's a global phenomenon the last six, seven trading sessions we have seen europe weaker japan, the nikkei weaker we have mentioned these high yield bonds or high yield etfs also generally weaker. here's what to look for. the important thing is every single day for the last six trading sessions we have opened down in the s&p. that hasn't happened in over a year each time in the middle of the day we have seen a rally and never closed at the lows right now, look at the s&p i would say if we close towards the lows which was 25.57 isd say that's a very bad sign got to close right here or higher or else the technicians are going to start squawking back to you. >> thank you very much shares of target are tanking about 9% the retailer disappointing investors for the holiday season hi courtney. >> that's right. investigators looking right past target's quarter to really beat on all of metrics and focusing on the cautious holiday outlook. when i sat down wi

like it's not going to disrupt the distributors so much as provide a service for drug companies like merckrestingly. >> it is interesting there is an attack on this part of the food chain and pharmaceuticals in general everybody knows it's a huge market to go through >>> that's it for us happy thanksgiving >> happy thanksgiving. "closing bell" is "fast money" starts right now. >>> live from the nasdaq market site overlooking new york city's times square i'm melissa lee. tonight on "fast," it's an amazon takeover. tech guru and "fast money" friend roger mcnamee will be here to talk about how high he sees the stock going >>> plus the man who called the market rally says there's one thing keeping him up at

biggest gainer was merck jpm down about 1%. >> february of last year and you had almost as much addedrom that point on >> are you suggesting it's not election-related and. >> look, there was a catalyst at the election, there's no doubt about it a switch was flipped and there was a massive reprising of lots of different stocks it's not despite who's president, but it's a broader theme. >> it's in the bond market too it's not coming at the expense of warner brother. let's talk about the financials for just a minute. that was a decliner, weak spot in the market again today. s&p bank etf, weaker today, down more than 3% in the last four days the drop is attributed to well, maybe a number of things this goes back to interest rates. the republican electoral losses that could impact the tax reform push, and yeah, the yield curb, what about these midterm -- you and maxine waters is the head of the committee, is it any wonder the banks are the biggest decliners today? >> that's kind of getting a little ahead of ourselves i would say at this moment i'm very -- i respect the fact that there's a

. >> right by the way, market cap laggards over the past year since election day of last year, merck,p enterprise, slumbergy, but none are closer to ge. so just massive amounts of equity and market cap lost in washington, the house gop leadership wrapping up its weekly press conference a few moments ago. speaker ryan did make news ylan joins us with more. >> good morning, carl. speaker ryan responded to president trump's tweet yesterday that requested that the tax bill lower the top individual rate to 35% and also include a repeal of the individual mandate i asked the speaker if those changes were on the table before the house votes on the bill this week >> we're pushing this bill as we have it. there's ongoing conversations. it's a work in progress. the senate is just beginning their markup as you know, this is a work in progress, which is the house is passing its bill the senate is now marking up its bill we're going to go to a conference committee and address all of these issues. >> so no major changes to this bill expected before the vote is going to happen on thursday. that's wha

archer daniels, whirlpool, and vinny, come over here, dow component that did a 52 week low and that's merck right here it's been a while since new lows guys, back to you. >> there's been weakness in biotech lately century link, i think bob is like a 20 year low over there in that telecom is upsetting high yield too. there's -- there's definitely pockets here of weakness >> and we mentioned the russell 2000, we've been talking about that the last four or five days. that's notably been underperforming for a while. that's an issue related to tax reform because small cap stocks would benefit this proportionately from any tax deductions >> that started in early october. that's been around a while too thanks bob >>> let's get to the closing bell exchange with all of that stuff there, we are joined from the partners, he's at post nine with keith bliss now the glass was suddenly half empty for the stock market, what are you guys talking about here on the floor >> well some of the points that bob just made with the return are important to look at, but one of the things we're really focussed on is wh

it's ochbnly impacted the dow 3 points merck, 55 on the downside, procter & gamble, only 24. think you get the point. finally i want to take a point about tax cuts lot of people debate tax cuts influence the market take a look at the dow there s&p 500 moved 15 points when senator mccain announced he was supporting, and there's the circle right there, he was supporting the tax reform bill that was at 10,055 people who say there's no impact, they're not reading the markets right. definitely some kind of premium. i guess, guys, the question now is, how much of a premium really is left for tax reform back to you. >> bob, thank you, bob pisani. earl eaier today on the halftim report, it was asked how much of this rally should be attributed to moves in washington here's what he had to say. >> i must admit, you know, i really thought trump was, you know, going to really change the landscape and he certainly has gone far to do that. i'm not that involved with washington, as you know, but i am -- i have to say -- surprised the euphoria even though earnings are going to be very good, e

matt pot tenger people like drew greenblatt, whose baltimore steel company sells racks to walmart and merckgoogle images to check on chinese competitors every week who steal his intellectual property. >> think about if someone were to stick their arm through the internet to steal your car or your tv. you would be outraged. that happens to us every day, they're stealing our intellectual property through the internet and representing it's themselves, and growing jobs in china rather than us growing jobs here in baltimore city >> reporter: tensions running high in the region the north korean threat on the horizon. trump will spend the weekend in japan. a flyover was called by north korea a move that was seeking to ignite war >> and it threatens to overshadow the whole trip. thank you, kayla tausche >>> surprising truths ouabt the hiring process, those details are next so what else is new? how's your mother? umm..she's doing good. she needs more care though. she wants to stay in her house. i don't know even where to start with that. first, let's take a look at your financial plan and see what w

there was an awareness looking at barnum merck-- mermaid where he said it was a mermaid and you go in and it was monkey so to a fishtail and you are like okay and part of what you reacted to his houck could i be so foolish not just i was fooled, but i don't think that second part happens as much. instead of barnum's promise that we are all experts that anyone could be a next dirt, that was part of i think that appeal and now there are no experts. knowing to be an expert in anything. to be a doctor or scientist is to be a fool now and i think that is the thing we have to think about less the media or medium that it comes to us at. >> i was on a plane a couple weeks ago and the pilots got on and said there was a dent in the tale that would not allow him to fly and people on the plane started screaming at him to try and fly the plane. [laughter] >> that is a large part of what's happening here. >> did you fly? >> no. i got off. [laughter] so, we have this thing now and i think we've actually been in denial of the difference between objectivity and subjectivity and in this country i think

merck surveillance can be heard in new york, boston, washington, d.c., the bay area. -- bloomberg surveillancedaybreak: europe. coming up in the mix hour, david zervos. alix: points on credit feeding to all of 2018. gradually bring back global credit make sense. >> we think capital preservation is always important for this current environment. we have seen risk assets perform very well this year. more cautious on credit makes sense. alix: mike wilson of morgan stanley said that credit markets may be topping now which is a good 6-12 month indicator for stocks. joining us is the asset management co-ceo, we want to -- they do broader credit investing. good to see you. >> thank you. alix: trying to get you on four years. if the cause are right in the credit market is rolling over, what does that mean for the play of the high-yield versus the leverage loan world? >> a great time to be defensive. it has been a fantastic run and we think high yields are priced for perfection and it is a good time to start to play defense. alix: how sticky is the money, how much money -- >> high-yield is easily access

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particular sanctimonious about that sort of thing, because my own past is fractionally marbled with merckple, mark raffl, for example, are saying maybe i need to change as a man. is that where we are, do you think, to change the way we are in anyway —— ruffalo. well, i don't know about you, but i am permanently trying to improve myself, and it is one of the sad realisations of being 57 is you realise you‘re not going to change that much, really. but always hopes to ameliorate. -- one always hopes to ameliorate. -- one always hopes to ameliorate. the actor hugh grant speaking there, and his latest film, paddington 2, is in cinemas now. i laughed, i cried, i tried not to cry but i cried. coming up on breakfast this morning: matthew bryce say he is lucky to be alive, after his last surfing trip turned into a nightmare and left him adrift at sea for 32 hours. seven months on, and we have caught up with him as he bravely returns to the water. and keep your comments coming in on one of our main stories, the church of england telling its schools that children should be free to explore their iden