i'm sara eisen here with mike santo santoli.resident trump reportedly to nominate joe sometiimons as heaf the ftc. he would have a hand in major mergers and scrutinizing business practices he also plans to nominate noah phillips as ftc commissioner. >>> the sec selecting brett redfern to run the agency's trading firm he is a former stock exchange executive. >>> president trump walking back support for a bipartisan healthcare deal. edward lawrence joins us now with the latest. so, is this deal dead? >> sara, dead, not dead, maybe, maybe not. a couple days ago president trump wanted to see democrats come to the table and try to work out something related to healthcare that's seemingly what happened with senator lamar alexander and patty murray with a deal that both of them came up with. the president saying after the deal was sort of unveiled, saying this is what we have, said he could not support it listen to him in his own words >> lamar alexander is working on it hard from our side if something can happen, that's fine i won't d

. >> i'm mike santoli in for wilfred frost. >> good to see you >> great to see you. >> world is a busylace already when you see it this morning >> record day. we didn't close goabove 23,000, but we did hit it. >> it looks like the open we might get there. let's check on the global markets. look at the u.s. equity futures. they were leeaning slightly to the upside the dow indicated up almost 50 points that would put it above the 23,000 mark if we stayed around there. the s&p 500 just modestly above the s&p hit an all-time high yesterday. the slow, steady grind continues higher nasdaq also pointed slightly higher seems like the action for the dow, most likely ibm that had the stock popping let's look at the rest of the markets. ten-year note, we see modest upside to the yield. back above 2.3% on the ten-year. it's been kind of compressed people have been talking about how we've not been able to liv state t levitate the ten-year note yield. >>> as the do you tries to exceed 23,000 once again, look at markets in asia a strong session with the nikkei trading around a 21-year high. it has se

let's bring in brian jacobson, senior investment strategist and wells fargo and mike santoli back on. you see amd, chipotle, not as strong as the industrial stal warts we got yesterday. >> i agree with that it's definitely providing an excuse to take profits i do think this earning season has been fighting the general sell on the news effect we often see with earning season. i mentioned yesterday at this point in the last earning season, which was also a good one, stocks topped out for the season two weeks into the earning seasons july 27th, i think the market just kind of says, okay, we got it. we're a pretty good run rate of earnings growth. we price that in, already have priced it in i wouldn't necessarily draw too much from today's action about anything so nasty in the earnings report as much as it was an excuse after a really good streak on the upside to pull back a little bit also big tech stocks are not running to the rescue of the broad market they are also, in fact, down more. >> i was going to say, intel, microsoft, amazon and alphabet all report on thursday and all are dow

that improved their cost and also raised its forecast for the year the stock mike santoli pointing out this is a highly shorted stock so there may have been some cover in there as well. >> lot of pain today for those people. >> still, that's impressiimprese their half price wings on tuesday nights, they added the boneless to the -- the boneless wings to the menu and took off from there. >> oh, it's not that the bones are really expensive and boneless wings are cheaper and -- >> well, that's kparexactly -- i don't know why they didn't do that before, right >> speaking within the food category, dunkin brands reporting mixed earnings this morning, company seeing impact from hurricanes irma and harvey at its stores. dunkin announcing a 650 million share purchase program joining us now on a first on cnbc interview, dunkin ceo nigel travis >> welcome back. >> michelle, bill, good afternoon, delighted to be back. >> we want to talk earnings are very interesting but we're actually much more interested in h this concept of less is more where you're talking about reducing the number -- the types

mike santoli, his new column michael, appreciate you being here you call this the all-gain no-pain market. >> yeah. >> you know exactly where we're going to here. >> sure. released minimal paper, scott. really just another way of quantifying what we've all been talking about here which is this very orderly, relentless low drama rally with almost no pullback, so what i looked at going into today, the s&p 500 up 14% year-to-date the maximum pullback along the way during march was about 3% higher as well if you look at the ratio, 14% to the upside and 3% maximum downside, that's almost five times that puts this year on par with some of the best years in decades like 2013, 1995, where hough this relentless grind high magnitude of the gains this year are not yet on par with those which were 30% plus, but what i think is interesting is neither of those years obviously was an ultimate peak in the market. you tend not to get a true market top when it's behaving in this very quiet way. i think the markets get jumpy and anxious and volatile and emotional before you actually have that top put. in th

. >> mike santoli. thank you. >>> our next guests, trade in the treasury's future complex, lets bring both of them back in and professor seagal, you were teaching them and teaching now, how did that impact the way you teach finance? wel we >> well, i never bought the idea that markets are efficient i was worried about portfolio insurance that people thought they had protection against the market, that was sold to many institutional investors and michael is right, that soaring bond yield from 7% to over 10%, it seems like the market ignored it and everyone thought oh, i am protected and i have protection on that was really a falsehood. they did not have protection on. it was based on selling in the future's market and when that selling came through it was a freight train ran everyone down. >> the people that you teach though today were not born then, right? >> yes, i pointed that out i taught today and spent part of today's lecture going back, none of you were born that was the biggest one day drop in hi

i'm sara eisen here with mike santoli. time for some must-read stories. my pick in the "washington post," how to stop russian robots from attacking the next election melvin's profile painted a picture of an all-american family man from harrisburg, pennsylvania a dad who liked baseball, cared about his country. but turns out melvin was hiding something. he wasn't a real person. he was fake account created to influence the u.s. electorate. sort of putting a face on what they have been hearing, the members of congress from facebook executives on the russian hacking buying political ads and fake accounts that influenced the electionor that millions of americans saw during and after the u.s. presidential election >> notable that facebook kind of initially said everyone has to be a real person, verifiable person that's different from twitter. if it's happening on facebook -- >> so facebook is hiring more people to vet. now you're seeing a regulatory push a bill being sponsored requiring more public disclosure around advertising and the way we see it in print an

. >>> later, current "jeopardy" champ and new york city barte bartender takes mike santoli on in a very stump santoli segment. >> i can't wait for that. >> me, either. >> he can wait (baby crying) (slow jazz music) ♪ fly me to the moon ♪ and let me play (bell ring) >>> ten minutes left in the trading session here with the dow down 20 points and joining us is world traveler, david dart everywhere from idaho to capri, i hear, you've been in the last several weeks. >> and i have missed you guys like crazy i've missed here. >> now, your acronym for us this week, it's not exactly top of mind, that i can tell. >> no. it means for investors to stay poised, to stay balanced okay, and ready to move and pay a little bit more attention right now. >> so what's the -- >> all these records -- p-o-i-s-e. "p" is politics, "o" is oil, "i" is interest rates, "s" is small caps, "e" is earnings. >> okay, thanks for joining us, david, enjoy the rest of your weekend. >> i love it the politics are obviously the passage by the house of the budget resolution. which sets you up for the senate now to take up the

mike santoli pointed out in a tweet that it's not that unusual when we're in the middle of bull markethave a run like this in the beginning of an administration yes, you can't deny business and investor confidence is up, but how much is this global growth, which i'm hearing washington talk about today and how much is expectations for tax reform, the trump trade. my article is in project syndicate, the demise of dollar diplomacy. pundits have been saying the last rites for the dollar's global dominance since the 1960s, but the pundits may be right because the greenback's dominance has been sustained by geopolitical alliances that are fraying badly. it's a good look at who holds the most dollar reserves, allies like japan, south korea, how that changes their alliance with the u.s. in terms of go yo poeo politics and what will happen around north korea he centers it around that challenge and the underlying financial flows that back those military alliances it's interesting it's not something you typically hear about it is, you know, an appropriate one for the conversations of economists f

and i think if you paid attention as mike santoli said to the manufacturing numbers in the u.s., that would have told you the earnings would look good >> not fangs day, or at least taking a back seat, john >> today it is amazon, alibaba, oracle all up better than about 1% apple hanging in there up about half a percent, but these are names, especially alibaba, certainly not dependent on the u.s. consumer. certainly, global plays. oracle trying to push its cloud globally across the entire cloud portfolio applicationswise they are not in this segment of earnings season, they are a bit offcycle, but certainly one of the names that investors are excited about this morning >> thursday is the big evening for google, amazon, intel, microsoft, expedia, and that's got to be fun. >> it's worth mentioning we have an ecb meeting this week, first look at the third quarter gdp friday yields rising, that's propelled financials to the top of the s&p right now. the dollar has started to pick up steam, so you are getting this sort of stronger u.s. growth trade, despite some of the noise in washington ov

with me at post 9, mike santoli, john fortt out west, sara eisen joins us from the imf fall meeting inhington. also kara swisher. kara, good morning to you. >> hi, how are you doing >> good. a lot to get to. our top story and the growing backlash against big tech. amazon is suspending roy price on allegations of mismanagement, sexual harassment, and allegations of his close relationship with harvey weinstein as rose mcgowan called out the amazon executive, saying price acquisitioned her in 2014. here's just a sampling jeff bezos, i told the head of your studio that harvey weinstein raped me over and over i said it, he said it hadn't been proven, i said i was the proof. i was ignored, deal was done amazon won a dirty oscar jeff bezos, i'm calling on you to stop funding rapists, alleged pedos and sexual harassers i love amazon, but there is rot in hollywood "new york times" saying tech giants once seen as saviors, now viewed as threats. there's, obviously, a lot to unpack here, kara, but let's zero in on amazon to start with. how disruptive is this >> well, you know, they move pretty qui

market did get a move on some of this mike santoli, as we work our way on "squawk alley" on the east coast. maybe some investors holding steady ahead of the pressor. >> holding back a little bit maybe a little relaxation after we did get the press conference. although yesterday it seemed the market was taking the morning off and you build strength throughout date. hard to separate those things out. >> watch all that and get to a lot more today on a busy news day. don't go away. i was playing golf days ago... love golf. i used to love golf. wait, what, what happened? i was having a good round, and then my friend, sheila, right as i was stepping into the tee box mentioned a tip a pro gave her. no. yep. did it help? it completely ruined my game. well, the truth is, that advice was never meant for you. i like you. you want to show me your swing? it's too soon. get advice that's right for you. investment management services from td ameritrade. >>> good wednesday morning welcome to "squawk alley." i'm carl quintanilla john is at the cyber summit in boston ceo founder an mike isaac of the "

let's bring in cnbc's senior markets commentator mike santoli with a look at the differences and similarities between then and now. mike. >> yeah, scott, obviously i think you have to say more differences than similarities. for one thing, i think it's very important to keep in mind it was such a singular event, such a kind of a fluke confluence of things including mechanical failure that no set of conditions today would say the market ought to be down 20%, the largest market tomorrow or any other day. it's not that we have a highly valued stock market back then arguably as we do right now or a brand new fed chairman, which we may well have in a few months. it was that the markets globally were under a lot of stress in the months leading up to that point. a lot of air underneath the dow was up 40%, year-to-date as of late august of that year, and by the time the crash began, so up to that crash it was down 17.5% off that high the prior week before october 19th of '87 the dow was down 9.5%. people went into the day of the crash thinking maybe we've seen the worst and then you had the further ca

i'm carl quintanilla with john fortt, mike santoli here at post 9 of the new york stock exchange joiningthis morning, paul holland. good to have you back. let's talk some netflix this morning. off the highs today, but the streaming giant hits another record high today, adding 5.3 million subs in q3, promises an $8 billion bet on original content next year. last time you were with us you called the company pure heroin when compared to its competitors. it's worth noting foundation capital is an early investor and you've worked closely with reed hastings now we're in this chapter, paul, we're watching the u.s. profitable and the playbook being expanded international, where that's increasingly where the story is, right? >> that's correct, yeah. if you recall a couple years ago we had this conversation before they had any significant presence in international, and i think really three things are going on we saw a beat in terms of subscriber base, we saw a rapid expansion internationally, and we saw a continued pressing of the bet on original content, so all three things are playing out well f

. >> i'm mike santoli in for bill griffeth good to finish up the week with you. >> full-ing on two hoursof energy. >> double my usual work. >> now that we have new berg, him and new -- anyway. he's going to -- >> i think he'll remind you who he is later. wells fargo, today, getting hit on concerns over lope growan grn

number one in the space will give us her take on th cryptocurren cryptocurrency joining me is mike santoliks. let's get to the market moves. big winner today, caterpillar. biggest loser was disney over in the s&p, the big winner was dxc technology the biggest loser was ulta beauty which shed 8.5% for seemingly no reason. financials are lower despite beats from jpmorgan and citi group. tomorrow, bank of america, wells fargo and pnc will report results. >> today citi had a great run, i think at these levels you have to have multiple things going right at once for people to stay excited about them bond yields didn't cooperate today. the long-term story remains intact if you liked banks before you probably think the numbers today were okay. >> stephanie does it remain intact if interest rates don't move higher? is that a major plank of this that has to work and that people are doubting >> for citigroup, i don't think they're as sensitive to higher interest rates they have special situation things going on. they have a huge restructuring program. they have a bloated cost structure. they're focu

i'm sara eisen with scott wapner and mike santoli carl has the day off and david is on assignment let's sort of unchanged, fractionally lower here. record highs for the last six straight sessions, we have seen stocks coming off the biggest winning streak since back in the '90s wti crude watching that too, down 2.5%. >> road map today begins with 33,000 that's the number of job losses in september, hurricanes harvey and irma took a toll on the u.s. economy. we're going to discuss what it means for the markets and the fed next >> plus, our exclusive interview with imf managing director christine lagarde, what she told us about growth in the u.s., the global economy, tax reform and more. >> and the countdown is on and nelson peltz's proxy battle. support from one of the world's largest pension funds. all the details straight ahead. >>> let's start with that big myth the u.s. economy losing 33,000 jobs in the month of september, versus an expected increase of about 80,000 our steve liesman joins us now after digging through the report, steven, a chance to speak with robert kaplan with his i

. >> mike santoli tweeted, this election day to date dynamic existed a few years ago. >> that's truehat's absolutely true i would say to the president, you won the night. that's what he cared about winning the night. you've won the night now, how -- he ought to do a 6:00 on stream program so he can prove he can beat the 6:00 at espn he's the most competitive guy i've ever soon and neil sen numbers are hitting all time highs. >> tonight he'll talk in harrisburg to some truck drivers and according to excerpts released he'll say the average household will get a $4,000 pay raise out of repatriation and corporate tax cut. it's unclear whether that's p penper annum, he'll make the argument that corporate tax cuts are positive for the average household. >> i think he's right. i wish he would stop fighting with people like corker. why fight with corker? i'm adamant he play golf with corker and peyton manning. roommates, this is the kind of thing that can be settled by a president just like if you read a great book about chris matthews about tip o'neill and reagan, the president has to read t

. >> i'm mike santoli in for bill griffeth good to finish up the week with you. >> full-ing on two hours. >> lots of energy. >> double my usual work. >> now that we have new berg, him and new -- anyway. he's going to -- >> i think he'll remind you who he is later. wells fargo, today, getting hit on concerns over lope growan grn costs. john shrewsberry jiwill join ust discuss the lasting impact of fake accounts scandal. >>> we've been following the scathing critique of bridgewater and ray dalio written in the newsletter last week jim will join us in an exculusie interview. some of it may strurprise you. >>> we begin with iran today the president just announcing new sanctions will be put in place against the country and decertifying the iran deal after his speech, he took questions from the press, when asked why he didn't just end the deal now, he said this >> we'll see what happens over the next short period of time. and i can do that instantaneously. i like a two-step process much better >> what impact could the uncertainty over the iran deal have on energy joining us to talk about that

kevin, before you weigh in, mike santoli was so fired up he sent us a video of his "fast take."ink they're going to be reaching their core audience members by taking out a -- >> i don't think -- can't quite make it out. anyway, what he was partly saying, kevin, was it's interesting all these companies keep going to the newspaper to advertise about their 21st century technology platforms, don't you think? >> it's brilliant. i think taking jamie's comments which basically said that this whole bitcoin phenomenon was a fraud, and, you know, it did effect the value for a little while. back up over 4,000 but they're basically trying to get a viral social media event to occur by doing this it's brilliant to do it. jamie set himself up for this. he basically put it out there, became a global phenomenon on twitter and now they're using it in the paper to get more focus on to this blockchain, by the way, is a good audit system. i don't believe yet in it cryptocurrencies because i always asked one simple question, if it's not in my account tomorrow morning, who do i call is there an 800 nu

with me at post 9, mike santoli, john fortt out west, sara eise

this is about growth look at the trends in the market mike santoli gold down. dollar up.growth trade stocks up. there's going to be more this coming and real interest rates will go up >> but here's the thing, the way the fed defines it, steve should weigh in on this, they think that policy is still very accommodative right now, so you can still be raising rates for a little while and still not get to a point where they're thinking at they're truly restraining growth. >> mike -- >> you're right. >> mike, i think -- >> i'm sorry. >> i think there's a bigger discussion around this that begins with what the fed believes the neutral rate should be >> yes. >> i think the more intricate part of what i didn't say at the end of my hit, if you get 3% growth numbers it's possible that the fed believes the neutral rate is higher and anyothen it will believe it needs to go a little further in that regard to get to a neutral rate and i think that's really the story here i think it's going to watch the behavior of inflation. i think the way that the fed will bias this, though, is not to

mike santoli has the state of the rally heading into the year-end >> you know what today is aside fromalloween and important birthdays? the end of that six-month period that is supposed to be the worst six months of the year sell in may. didn't work this year. hasn't aged well the bull market is up 7% since may 1st. that's better than historical average. so i looked back at years when you had baea better than 5% ret during those six months, those 26 years and you didn't frontload the gains. the following six months november through april were better than average over that period essentially the lesson is markets that are strong, markets that defy normal seasonal tendencies to be weak as this one has this year tend to stay that way you find these markets in the 50s, 60s, 80s and 90s. no guarantees because i think we'll on pullback watch. the longest stretch without a 3% pullback it has been a ragged rally the last few weeks you have more than 20% stocks in the s&p 500 are down 5% this month. even though the market as whole -- the index is at new highs. >> more than 25% -- >> about 115 s