those are at new highs. it's the other group playing catchup. >> s&p sectors that have moved within three percent. >> we have made 780 new highs in the last 11 years. everyone of those could have been the last, but they weren't. actually, when you look at forward performance over six month or 12 month timeframes from the day you make a new high. you get better than average market performance. the concept of it's a new high should force me to either buy or sell i think is a suspect concept. i think the better thing to say is what if markets spent this entire year digesting the earnings contraction and have paid their dues and have put in enough time in the salt mine so that if there is an acceleration especially internationally we are now poised to capture that rather than just say we're pulling in performance from a future year. i think you have to think about the market as forward looking and not necessarily worleyed about what's happening. >> this is an interesting idea to entertain whether if we did have

on friday's close we were at a new high along with the market weight value hit a new high along withh and the defensive consumer stap les and health car etfs were at a new high. it seems like every time one sector falters, another takes its place. how long can the perfect rotation continue going? tom liden and dan draper join me now. dan, you don't see value and growth hitting new highs at the same time together what is it telling you >> breath, breath in the market. about a year ago we were struggling, worried about geopolitical events, the market was selling off. a year later we'veseen a reversal in monetary policy taking effect. the mega caps are feeding into mid caps >> tom, this perfect rotation, so you have cyclicals strong earlier in the month last week they were weaker and defensive names like health care and utilities were up it doesn't get better than that. can that continue? >> it is a goldilocks rally, when you look at value compared to growth, growth kicked some major butt out there in the last ten years. value all of a sudden, we're seeing money flowing in and also in c

beyond that, a defensive cyclical names are hitting new highs. alth care, nal highs, right g with cyclical like technology and communication services. you s? it seems like every time one sector falters, another its play. and much of that optimism has been fueled by positive trade headlines. maybe global growth is btoming out. how long can the so called perfect rotation continue? weon't know, but eoy it. for nightly bess report, i'm b pisani. >> one area of the market where earn vesters are putting mtoey ork are those value stock how long can that rally last. brian good tsee you again.e >> you'r skeptical about this ralue led y, why? >> typically value needs a catalyst to outperform on a persistent basis,al thi rally is the result of very weak economic activity in the summer and a market that had gotten very bearish and even inverted the yield curve, what you're seeing is a rovy rates up, the yield curve normalizing, you should expect value t w dol in that type of environment. beyond that, you need aat lift. that would usually be the united states

doing something in terms of banks, small caps and industrials. >> wake me up when the banks make new highs >> who cares about all-time highs? >> it matters when you're talking about breadth and how a market is where it is. >> they have. >> can i interrupt here? >> you run a show. >> yeah, it's your show. >> i was going to say, guy, when you say price is truth -- >> when i say price is truth, people get mad at me with all the information you can take in, the thing you base your decisions on are where things are trading. the decision to buy or sell apple at 237 is much different if it were trading 185 so when i say that, that's what i mean the end decision is made based on where things are trading. so here we are at the s&p all-time highs it's clear as day that it's breaking out to the upside. >> many fibers in your being want -- do not want -- >> we're talking about fiber in his being. >> that's a good point >> that's an excellent point by tim. >> when you look at what is happening, valuations in the market, fundamentals, you don't necessarily want to believe the rally. >> but you have to b

well. 1% a positive sign for those skurnging to dow there are are thp when h a newh is confirmed in new highthe transport that's bullish. putt together and means the market is rotating a bit. fade processing. store bucks and dennison and mcdonald's, ni, leaders but well off highs for the year and replaced by a new bunch of leers. banks, energy and small caps. classic value. pla for nightly business report, bobbis miss any at the new york >>> and with major indexes at or near new highs we heard today from well-known investors and ceos who gave us their take on the market and the economy. >> i don't think it's a breakout. and i don't think it's particularly overbought either. because what you have is the weight of money. there is a certain amount of money out there, lot of money, central banks bauste bought ss5 trillion ofssnd so on. we have a lot of money. and the question is where that money goes. >> there are a lot of valuable mpaniesreponderates are very low. it looks like the st. croix stock markets areorecasting a rosy outcome. and the bond market is hard to say whathe it's forecasting b

now more than 14% in the month of november alone. >>> the dow and s&p 500 hitting new record highs today bob is at the new york stock exchange every time we tick up it's a new high hey, another record high people are remaining very bullish, are they not in. >> shockingly bullish. it's the diversity of the rally that made peel bullish it's not just the fantasy. it's quite amazing there's two things you want to market about the market in november the lows for the day are right at the open and the mark is driven upward. this is a notable print in november that's not always followed in many other months. second thing you want to know is the stunning diversity of the rally. you rarely get this kind of thing. boeing and industrials new high. united health and health care. apple and technology there's nike and consumer. there's jpmorgan you don't see these stocks hitting new highs at the same time and the most under the broadest rallies they are just shy of new high. this is not something to quibble be this is the whole market is sitting alt new highs. you could see this this is a little odd gr

we have a new high on all the semiconductor indexes, including the smh. oning, you know things will get better when you get ex-sms this is essentially europe a new 52-week high we had better than expected eurozone gdp and then we had japan, brian was mentioning that. who would have thought the nikkei, there's the ewj. that is the japan index at a new 52-week high and guys, we had something today that we haven't seen in a long time, good volume on an up day volume has been terrible on up days in the last month or so way above normal volume. that's a good sign and a sign that people are coming in and buying enthusiastically, as the market is at a new high. that might be a slight change in acceptabilitime acceptabilitimen sentiment. >> i think it's important to point out to the viewer at home, they hear the word all-time high and it triggers. everyone has this thing called the gambler's fallacy. it's a cognitive thing that humans possess you see the roulette wheel hit black three times, you want to go red but that's not how the world works. markets tend to tr

the markets are at new highs. more new highs. by the way, quick point. noon, it will be the 100th record high during the trump presidency for the dow industrials. 100 highs during his presidency. not bad, i'd say. by the way, 11.3 trillion has been added to the value of american stocks since mr. trump was elected. let's bring in ron carson, the carson group. you staying in this for the long haul? this is a real genuine year-end rally going higher from here, what do you think? >> yeah. i mean, most people, the market makes new highs, they think this is a tserrible time to get in bt the fact is once the market makes new highs the very next month on an annualized basis the market is up about 9% and you heard me say this so often on your show. it's like no one can out-predict what the market's going to do but you can get your [ inaudible ] and that's critical here. you said it, $11 trillion since trump came, you know, became president. things are moving along pretty well. we are starting to see some areas that really haven't contributed to the economy start t

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new two-weekral highs. some of the smaller companies, best buy,'s blanche, trading at -- best buy, splunk, trading at their highest levels over the past year. scarlet: mark had a last-minute first. about 1.9%. no clear reason on why it got this pop at the end of trading but we will continue to look into it. let's look at what our reporters are monitoring. abigail: i was watching those record highs and the very small gains. the reason we are doing it again today is to see how it is working. seriesed we would see a of all-time highs back in october. the rally this year and then in the spring and summer, a battle between the bulls and the bears making it more constructive. buyers were the getting more conviction, more confidence. old we are above those record highs. , the rfi, a slight lower high. the rsi go8, we saw as high as 86. if it rise to above 74, it would support what this chart suggests. also seeing small moves higher today are small caps. the russell 2000 at one point point half a percentage but we

the markets continue to hit new highs. cnbc talked to some of the biggest heavyweights about where we are and what could be ahead >> the consumer, 70% of gdp is quite strong how is it in short supply? credited quite good? the business side, you know, it has dropped dramatically camp x has drop. so how they should invest and slow it down and probably slow down the economy a little bit. >> i don't think it looks like the will be a recession in 2020. i think there's enough strength in the economy to go past 2020 >> you can't lower interest rates anymore. there's been a lot of principling of money and as a result investors are very flush with money so they're taking very low returns and they also are buying dreams rather than earnings and stocks. >> let's bring in marianne, portfolio manager, and liz, director of market strategy. ladies, welcome to you both. i'll start off with you. it sounds like you think the market is pricing a whole lot to go right at this point >> hi. thanks for having me >> i do think the market is prici

new record high today. the other one is at 47% year to date so with that backdrop of both leadership from the biggest stocks and then having all these sectors that haven't done much for years starting to break out to new highs, it's hard to look at every little minute detail that comes out in the trade talks or something the fed says and try to deconstruct all of that it's not happening the buyers are buying and the sellers are, frankly, on the sideline. >> stocks are dipping, as we mentioned, on those new trade headlines out of china let's get to kayla tausche in washington what are you learning? >> people close to the talks confirm that the u.s. is trying to secure stronger concessions from china to police intellectual property protections and to stop the practice of force technology transfer in exchange for rolling back some of the tariffs that are put in place or could be put in place in ecember. so far the two sides are at a stalemate, despite a month ago saying they have an agreement in principle. the

it's a cyclical rally since november 1st banks, new highs materials, new highs industrials, new highsech, new highs. all cyclical groups. another major cyclical, sub sec r tor of industrials, transpo transports the dow theer riss are going to love it. dow tronz ports confirmed. that confirms a bull market situation. that interest rate sensitive situation really hurting some of these yule tillties. consumer staple, really started on november 1st, they started flipping around. these were the market leaders and the big move up in bond yields we've seen today not only hurting utility, home builders are having a rough time of it. another group that was market leaders just a couple of months ago. >> thank you very much now to sue herera r for a cnbc news update. hi, sue. >> hello, ty, hello, everyone. here's what's happening at this hour fo john bolton failed to appear for his closed door deposition today. he was invited to testify, but declined t"the washington post" r reporting he is willing to testify in the impeachment inquiry but only if a federal court clears the way >>> in germany, m

>> another new high for microsoft, all-time high. >> amazon, this has been the scariest of the large cap teches it was sitting on support people said are the buyers coming in or has something changed. they looked at the price action on walmart and target and said there's a new amazon, it ain't amazon now it's bounced off those support levels 1815 is the key level could trigger a lot of buy orders. keep my eye on that. >> what jumps out to you >> the consumer. the consumer is crushing it, scott. whether it's policies that are pro growth, the tax cuts, the consumers are out there spending like crazy >> not all stocks getting the benefit -- >> best buy is crushing it 17%. >> new high today. >> burlington, burl, up 8% today. redbook sales, up 4.3% year over year goldman chain store sales 4.5% year over year philly fed nonmanufacturing they were looking to come in maybe in the 15 range comes in at 20.7 versus 12.7 a year ago these are phenomenal numbers now. i remember three months ago, many of us were looking at the difference between ihs market and the ism saying do they properly weigh

you can it could happen. >> we have transports hitting a new high.p almost 19% on the year right now. dow jones transportation average. that's providing a signal for a lot of folks that isn't a yellow light. that's providing a green light for a lot of folks. and when you've got other economies around the world getting a little bit better here and there, germany, their rates are the highest they've been in months. i'm not cheering for higher rates, but what i am saying is when german ten-year rates were down at -- >> you should be cheering for higher rates, that's a good thing. >> it is. >> rates have gotten off the mat. that's one of the reasons that maybe we feel better before about where we are. >> true. and to steve's point about the steepening of the yield curve, that's because that has come at that ten-year. ten years have moved up dramatically. >> since july -- >> yes. >> how much do we like banks right now? i mean, look, and we're talking about what can move the market higher. of course we're going to talk about technology, that's going it mov

i'm carl quintanilla with jim cramer, david faber at the new york stock exchange. tide of record highsrade optimism rolls on today. dow futures up 80 points, amid reports the white house is considering to cut some tariffs. europe is mixed in the ten year, approaching 1.84 ism services and jolts in an hour road map begins with wall street's record rally, stocks point to a third straight day of gains, fueled by increasing china trade optimism come up, excluse of ive insightm jamie dimon and ray dalio. >> shares of uber, they're sinking on continuing losses, more than a billion dollars in the third quarter. but the ceo predicts profitability within two years. >> and done everything right going's new chairman backing embattled ceo dennis muilenburg of the max crisis. uber, shares falling stocks now 35% below the ipo price in may yesterday on closing bell, the ceo said he sees profitability as david said for the company in 2021 >> it was a very significant beat on the top line in terms of revenue growth accelerating and the bottom line. we increased our 2019 midpoint of our guidance and ebi

we had new highs in italy and germany and france there's your european etf. a lot of this is because the bank stocks have turned around italy, germany and france even japan at eight week highs. a little bit of this is about trade optimism a lot of people believe that will help the global earnings situation as well. fed with us as well. we had a little bit better economic data europe and over in china recently on friday that's going -- leading to a lot of people saying perhaps we need to look at the 2020 earnings will be below expectations maybe they are not maybe we can do a lot better that's fueling a lot of the optimism november is a good month back to you. >>> we have a quick news alert here steve is flagging some warning signs. >> thank vrs mus very much. the federal reserve out with its quarter. banks tightening credit standards for new credit cards and consumer loans and for commercial real estate loans these are small percentages tightening but it's going in the same direction but coming amid lower interest rates they have tighten credit for industrial

market cap race. >> is he getting old hat, these new highs, david is it old hat. >> we're done with it? that's it? >> what else have you done for me lately. >> come on give me a new story, will you? give me something involving baltimore. interesting contrast baltimore -- baltimore ravens. >> yes >> winners over the pats ravens, under armour ravens, under armour. >> youngest player to have beaten a bill belichick team >> last quarterback taken in that draft last year >> of that great class >> yeah. yeah, i think so >> so was sam darnold. >> no, he's mono man >> sorry, right. >> he had mononucleosis. i had it once bought it was because of drinking. the old days you know a different life. >> couple of deals this morning. >> the right medical in. >> i got the right medical deal. striker buying that. right medical is the leader in upper extremity portfolio things so that will help you -- >> members of podcast, you can't do that anymore. >> it will help you up and lower extremity and biologics you can see wright medical shares up sharply. 30.75. stock was 20 bucks not l

and microsoft at new highs today.s amazon still about 14.5% below its all-time high. and below the radar, take a look at peloton today it actually finally climbed back above its ipo price, now at 30 bob, over to you >> flattish day, bertha, keep an eye on the big picture when you have the equal weight s&p 500 and the market cap weight s&p 500 hit new highs at the same time, we hit value and growth, hit new highs at the same time. and you've got cyclical and defensive names like tech and consumer staples hitting new highs. broad rally in the markets, even though you have a flattish day with the s&p 500, essentially ending the day up one point. the dow up 28. >>> welcome to the "closing bell," everyone. i'm wilfred frost. >> and i'm morgan brennan in for sara eisen along with mike santoli. >> let's check in with where we finished as you can see, record all-time closes for the three major averages, albeit only fractional gains today. 29points, 0.1% for the dow s&p just getting positive in the final minutes of trade to jo

banks and big industrial names all the regional banks are hitting new highs today. all the classic names. suntrust, key corp all 52 week highs right now. jpmorgan, bank of america, citigroup. how about the big industrials? you might be surprised what happened to the global economic slowdown? dover, deere, caterpillar, illinois tool works. all 52 week highs. why? a lot of hope the trade talks will go well only a small smattering of tech stocks corvo, swks. we need a little bit more breakout, guys we had only 50 stocks on the s&p at new highs today we need a little bit more movement and we're going to see 30% of the s&p at new highs. we'll see. >> all right bob pisani, thank you. i think you should trademark that one >> makes up for my santol santoli/santelli mistake at the beginning of the show. >> thank you i've been called much worse. but i'm going to pick it up there. is it a believable breakout? i'll look at some of this context for the move here. then the globe gets going. non-u.s. markets having their moment which is a little bit of a different factor this time

they have been at new highs. same new high list that we saw last week here i want to highlight general e lek tri. it was $9. look at this move. we're talking a 20% move here. that's a new 52-week high for general electric we are seeing break outs with the cyclical groups. general transports, materials. even the fund managers are getting optimistic global growth expected to improve in 2020. doesn't sound like much. they have been pessimistic for most of this year. this is change in attitude another change in attitude of the most crowded trade stocks. that's important because the old one was u.s. treasuries. that's inverted now and tech is the big long outfit. back to you. >> thank you, bob. the president saying there's no uncertainty when i comes to the u.s. trade war with china. let's bring in chief u.s. economist for jpmorgan the president saying he's on the precipice of the phase one deal but if there's no trade deal that the tariffs will be raised stoppable stanlly. the markets had very little reaction >> it's

there's been a lot of rotation, it hasn't been buy the same sectors to get back to the new highs.en stay in the megacap tech if you're looking for a blow off top the last time we had one of those was january 2018 from the tax cut in december of '17 we had this thing that went parabolic. what happened is we had a very sharp decline after and it took ten months to get back to the new highs so the only thing that i would worry about now between now and the end of the year is the higher we go, without a pull ga ga back, the harder we could fall in the first quarter of 2020 that's just what goes up must come down. >> the russell, we talked about it over the summer, 145 had a hold, it did hold. and now a nice rally but 160. trouble at 160 a couple times. april was sort of the big high carter mentioned it, the all-time high was august of last year, 173. i'm hard pressed to believe in this environment we go there but 160 now becomes huge resistance to the same way 145 became support. if we fail there, which i think we will, the s&p will follow as it has for the last couple years. >> how a

> i know we're flat from the last few days but don't kid yourself we are up for the week here at new highs. that's the important thing to bear in mind the reason this is happening is because we've got some positive news here. the nefeds neutral trade talk headlines believe the deal with come look where the market is internally we had more new highs than before momentum is bullish. rotation is into cyclicals, out of defensive stocks and new highs is lagging it advistends to be on the flatr side you saw the summary there. i followed larry kudlow. if there's a phase one deal, that will be tariffs these are financial stocks they have been out performing. value will likely do well into the dloez of the year. everybody is a little surprised this week. this was the surprise that 20 point move up in the ten year yields that has created some additional rotation we weren't anticipating before you see the banks out perform. hold builders and utilities under performing now that's an interesting question about whether this will continue nobody thinks we will go dramatically north of 2% on the ten year

lot of people hoping for a big crash but right now we don't know it keeps on hitting all to time new highs and it probably will continue to hit all time highs because nobody actually seems very concerned about the growing pile of debt or the moody's yes what do you want to say before i get to that headline. right if you were to do an adjustment to stock for stock prices removing the stock buybacks that have been enabled by the creation of trillions of dollars of debt money the stock market would be struggling to stay above $10000.00 it would not be hitting you know close to $30000.00 so once again it's not a function of the economy or earnings it's a function of the neo feudal as ation of the american economy these companies are being taken private with the free debt given to the plutocrats of the oligarchs so could go to 70000 on the dow but the stock market as we know it for many decades will cease to exist well let's continue with this theme of the federal reserve bank led by jerome powell and what he is able to do to flog the horse and everybody can agree that you know he can perhaps s

>> the s&p went to a new high in late april, then failed miserably in may. it went to a new high again in late july, and sold off pretty sharply the first week and a half in august. so far, we are holding these new highs that the averages have hit over the last week, week and a half, and the longer we can hold those breakout levels, given that the market might go up or down a little bit each day, the longer we can hold these breakout levels above the prior highs, that is very encouraging that this could be the beginning of a new leg higher which would include some type of year end santa claus rally. liz: phil, we are fixing the banner. we know santa claus was spelled wrong. >> you're not playing the christmas music. come on. it's the season, right? absolutely. liz: well, let me tell you, because last year, it was jaw-dropping and stomach-churning that december 24th eve where you saw the markets just implode and so begin to explain what you expect to see between now and call it december 31st. >> last year was a nightmare before christmas. that's what it was,

when you reach a new high and i have five dates here, when you reach a new record high after not reaching a high in at least a year, so one of them was right around here in 1995. that was, you took off to the up where side there after that it was in 2006 or so you had a little more of the bull market to go in 2007. then 2013 that was a straight up year so the point here is that you've not actually had this happen a new high in the industrials after you've not had one for a year and had it been a real market top average forward going return for the s&p 500 after you hit a high in the industrials is something around 16% according to nautilus research that sets the the scene for what you can expect after we got one of they moves. >> steph, where do you stand on the industrials? is this encouraging for you >> it is encouraging i'm overweight it's painful to be overweight. you get stable growth globally to get the dollar to go up quickly as it did. the positioning is still off side i still think people are chasing and not believing, so to speak and caterpillar was the tell when they reported n

they did not make new highs.e going to look you want to sell the stuff that is going down, you want to be long the stuff that is going up. don't try to pick a bottom. if the stocks are going down in this environment and it turns around, they are likely to accelerate to the downside. if you think you are negative, you take a stock like visa or mastercard, you have risk management levels in which that is the most important here. now, is the economy slowing? that is what it looks like. but again, the market can stay irrational far longer than i can stay solvent. discipline is the key. caroline: great to have you with us. house, speaker of the nancy pelosi weighs in on the impeachment inquiry and protecting the constitution. this is bloomberg. ♪ mberg. ♪ >> bloomberg's first word news. china's ministry of commerce the country has achieved a consensus in principle with the united states on trade. there was a phone call between he chinese vice premiere and robert lighthizer and secretary treasury. and they are towards

new 52-week lows on the nasdaq you see 113 there. nasdaq has never traded this highe 3,000 stocks in the nasdaq making new lows it'sconspicuous. it's doing exactly what you expect it to do which is hit another low around 12. we did get to 11 in the dead of summer but this confirms that we have a very steady market until the market proves it's going to falter, that's going to stay low. >> we have another little leg up in the market such that we are at session highs three record all-time closes in sight with two minutes left. let's get to rick for a check on bonds. >> everybody's watching the dow to see if we hit 28,000 while we're on the air when it comes to treasuries and interest rates globally, they all behave exactly the same, except different scale let's look at how we finished the week in the u.s., sliding to the lows in the week in a noneventful trade. look at guilts in the u.k. sliding as well. if we look at the french oat, same scenario. gdp around the world coming down, the u.s. up 3/10 with regard to gdp. the nasdaq is going to blow out the old highs by 50

that will impress them we get 30% of the s&p at new highs versus 10. now i'm really impressed not there yet. >> all right thank you. bob mentioned they were watching in the bond market today rick is tracking the action. ten-year yields close to 2%, rick >> yes as a matter of fact right now two years are up century ten years are up 10. 30 year bonds are up 10. this has been a big day. i was really excited about it because dealers took historically low amount which means who stepped up direct bidders were hedge funds, pension funds, mutual funds, insurance companies, banks, government exactly the large entities that usually step in usually year end or yields get juicy. just straight up on the highs and pretty much all maturities and yields ten minus twos hovers around 25 basis points a little over 28 is the highest of 2019 add we continue to see impressive moves in selling, pushing yields up around the globe. tyler, back to you >>> thank you very much. stocks continue their record run, are we in now or in the mid stop a year end rally and how can you cat

pl apple a new high microsoft a new high on friday to shannon's point here comes the cavalry. take a look at the russell 2,000. it's hanging at the highs a breakout looks extremely likely. it has been a very, very long time coming. it has been a huge under performer relative to large caps if this goes, what are you going to say at that point one of the number one reasons for being concerned about the markets was the lack of breath or the concentration among just a handful of sectors last week the xli, industrial sector, quietly made an all-time record high, almost nobody remarked upon it these are important things so if you are looking at the russell or want to talk in etf terms, the level i'm talking about is 1600 on the russell 2000 index or 1 60 in the iwm etf. wait until you hear when that breaks through. >> wait a minute. >> the money is coming from -- >> i'll come back to you and let you finish that's why oppenheimer today, again, we've mentioned sort of the tone of wall street's commentary has shifted as well, oppenheimer, you ain't something nothing yet. >> commentary f

japanese indexes hitting new highs as well. here in the u.s. highs in the nasdaq 100, in materials names, health care names andon semictors as well. what's missing here? wh would move the martstsp more, say another 10%? so three things move the needle. first, higher bond yields would move money out of bonds and into that's a help. second, trade. t need to take the december 15th tariffs te supposed to come on off the table. robably most-- important is earnings. this slow groh narrativeas believed that 2020 earnings would be flat to up mid-single digits. but if we get better economic data across the board, that's going to force traders to rethink those estimates for 2020 and that means rethinking them up. for "nightly business report," bob pisani at the new york stock exchanges.ch >> and now to the employment repo which as we mentioned was surprisingly strong despite a cooling economy. steve liesman takes a look at the state of the american labor market. >> reporter: even while the government reported that job growth slowed inaloctobe street stil

new highs in the nasdaq. semiconductor, etf, health care, etf, communication services breaking out what would move the markets up significantly. 10% maybe? higher bond yields would move money out of bonds and into stocks trade, we need to get to december 15th tariffs. the slow growth narrative positions 2020 personings, flat to up mid single digits. if we get better global data it would force traders to reevaluate earnings growth for 2020 it means we could argue for a higher multiple for the s&p. that would help the markets as well >> bob, thank you very much. >>> the jobs number sent stocks higher and put investors minds at ease. with the market at record highs the s&p and nasdaq are recession fears off the table. to discuss let's bring in former mayor of new orleans, ceo of the urban league and ron lsu is doing well. they might be number one >> the jobs market is doing pretty well, mayor >> i'm glad to be with you today. lot of reports on the jobs numbers being good i wanted to out line a few areas of conce

all hitting new highs. the dow's rally comes despite a large drag from mcdonald's following the fire of steve esth easter bs brorm da france, y, italy, ireland, all hit new 52-week highs. japan also 52-week highs. asor the month of november, usually the second best month for the stork markck market for year and it starts the best six-nth perioer when t stock market historically had outperformed between now and the end of april. for nightly business report, bob pisani at the new york stock exchan >> and when the market is at new highs, some say it's time to re-evaluate investor appetite for riction. one way to do that is by looking at the recent performancef one time stock darlings. mike santelli did just that and teldz tells us what he found. >> the hottest upstart chnology companies had been tramp willed in theresh record highs. a group of heavily hyped and fast growing e-commerce players including food delivery portal grubhub, on line furniture retailer wayfair and etsy had shares crushed losing between 3

when you see emerging markets and small caps rally and making new highs, this is just i think furthering the idea that 2020 economic growth is stronger than 2019 and that is a good sort of setup into stocks doing well next year >> what about this idea that we have this bevy of data over the last few months, whether it is ism or pmi or anywhere around the world where we see the economies start to slow down is there still a concern that that slowdown will play out at some point markets will have to take a leg lower >> i mean, the pmis have been weak for almost two years. we've had an industrial he recession globally and it has kind of been a mistake for investors to think that weak pmis should govern their positioning. i think pmis are actually bottoming. we're seeing incremental improvements so if pmis are turning historically, that means there is up side to earnings growth next year. >> if that is the case, does that earnings growth still really -- will people still pay up for every dollar of increment incremental earnings >> i think it is too early to know whether 2020 will be a boom

the s&p 500, a new high. also europe, europe, africa, far east, new high what a surprise.t 52 week high. ewj. the basket of japanese stocks. individual sectors in the united states are starting to break out as well. there's the value index we like to talk about, a lot of financials in that qqq, heavily tech weighted semiconductors breaking out, this is an equal weight semiconductor. and new communication services new high we are complaining about s&p is at a new high, big market cap names like apple have been moving those indexes we want to see broader breakouts now. the next thing you're going to see the next couple of days, a lot of individual stock breakouts that frankly we haven't seen yet now you're seeing broad participation in the market. we haven't hit that yet, but carl, we're heading in the right direction. back to you. >> all right we'll keep our eyes on it. >>> we'll talk media here with apple. the launch of the streaming service apple tv plus. we begin with m and a. google agreeing to buy fitbit for $2.1 billion joanna stern is here and dennis berman why is th

and every day, every hour, the every tick the market making new highs. not making new lows. it's holding in principle. with one might think as the market goes higher the vix would make new lows. but for whatever reason it's holding. i want to focus on this level. take a look over the past month. and basically watch what happens when i draw lines here we have held this level just as we did here, just as we did here and we're starting to do this again. now, i've got the arrows drawn does it have to be you get a big explosion? is it that the bulls say no, no carter you have to do this but the setup, the triple bottom, pull it back further. here is going back there is the collapse in december in equities, spike in vix. the key level again. and even as we have ticked higher, the market continued to sort of at the volatility level not make new lows. my hunch is that this could well be the setup for that kind of thing. i would also point out that you've got near record short positioning process vix as reported by the commodity commission and that often is the s

highs across the board a greenlight for investors in tomorrow the sectors to wind chill. the headwinds ones horizon squawk on the street, 9:00 a.m. eastern. >>> welcome back to "fast money. stocks hitting newreached an agreement with the u.s. to roll back tariffs. and that news could not have come at a better time for chinese giant alibaba. single's day the world's biggest online shopping event coming up monday with the stock jumping traders bet more gains on the horizon. our xp directors is at the plays map what are you seeing. >> as you said single's day next week let's soo how the market shaping up with options volume calls outpace puts three to one. this stock ha has been on an absolute tear. look at the at the money straddles imply. you can see the no straddles implying a 3% move between now and next week's expiration i'd like to dive in a bit deeper into this implied volatility and see if we can identify trends and opportunities. all right. what we have here is short-term implied volt tilt over the last six months you can see we sold off aggressively from right here post-injures we have really sold off all right this -- this year area right here presents a great opportunity to get in

check out those bright shiny brand-new all time highs across the major indices.good. beware, our master charter says it could be an explosion ahead carter over at the plasma wall carter >> this is one month that's transpired every day, every hour, the tick, the market is making new highs yet the vixx is not making new lows it is holding here in principle. one might think as the market goes higher the vixx might be making sharp new lows. for whatever reason it is holding. i want to focus in on this level. take a look over the past month. basically watch what happens when i draw lines here we have held this level just as we did here, just as we did here and we're starting to do this again. now, i've got these arrows drawn. does it have to be that you get a big explosion or is it that or is it that the bullets say no, no, carter this is what's coming. this set up, this triple bottom, let's pull it back a little further. here's going back. there's your collapse in december your inequities, spike in vixx here's this key libl gefl. even as we have ticked higher, the ma

i mean, you could see 105, 11 o0 new highs before the year is over many markets only want to go higherlack of volume and volatility. today's selloff is just a little selloff. we just made record highs. there will be a bit of profit taking. deirdre: we talked about two things that can affect investor sentiment. one is u.s.-china trade relations and two is the fed. what if i say this, that it seems like u.s.-china trade is not going to really have a very concrete resolution before the end of the year and the fed intimates that it's not going to do anything else. even with those two factors baked in, you still think the stocks can move higher? >> i still think they go higher. again, what you have to look at, deirdre,s is you have to say where else is anybody going to go and put their money. trade is already anticipated not to be so clear. any time we had news we we hava selloff but we're back at new highs again. we can't worry about the trade. i think it's apparent that president trump is holding the chinese feet to the fire. i can see him possibly waiving some of the tariffs in the next

well off of their highs early this year. we have a new crop of potential leadership those are bank stock, energy stocks and small cap stocks. that's the classic value play. back to you. >> all right bob, thank you for that. renewed optimism on trade talks between the u.s. and china helping to fuel this record rally and thanks to new numbers we see who is winning, who is losing that trade war. steve joins us thanks very much >> crunching the latest data that came out this morning china may be closer to a deal. the losses are mounting for both sides and it's measured in tens of billions of dollars president trump can boast that china has lost far more than the u.s. in dollars terms. u.s. imports from china have fallen a sharp 53 billion dollars. they are down just 14.5. hold on. u.s. exports much less to china. there's more to lose in percentage terms taking a look u.s. exports in china down 15.5% are off just 13.5 the effects are worse for u.s. exporters. the averages mass some really serious paying individual industries take a look here e

tell us how you came up with it. >> we all love "high school musical" up on the stage and i think the whole idea with this series was to follow a newht, right. >> a little nervous? >> you know, it's fun the way it works. i'm joshua playing ricky who auditions for troy. it's layered and confusing. it's cool the way we pay tribute yet do our own entirely different thing so it's cool the way they did it. >> have you had a chance to be in touch with him? >> no, i'm waiting. if you're out there, joshua t. bassett on instagram. >> and of course you're playing the vanessa hudgens character. >> yeah, what i think is so great about this show is we're not trying to remake "high school musical" because there's absolutely no way we could capture it, the magic that was "high school musical," it was just insanity and lightning in a bottle so we're not trying to do that at all but getting to play mimi is a real honor and excited to introduce new characters and plots to a new generation of wildcats. >> corbin bleu said this is the real deal. this must make you feel great. >> that was an honor. we've gotten a lot of love from him and kenny ortega a

high. researchers with an international organization say there's no sign of the warming trend slowing down the news comes just a week before a u.n. climate change conference in madrid the iconic macy's thanksgiving day parade balloons may be grounded by high winds the forecast calls for gusts of 40 miles an hour it's all part of a larger system expected to bring rain, ice and snow, of course, just in time for the holiday travel rush. >>> mississippi now has a lottery and in the first two hours ticket sales raised over $300,000 for decades one was only particulars without a lottery system leaving residents to having to drive across state lines. >>> and, oh, deer, they're back. wildlife officials used helicopters to return deer back to their habitat on antelope island they were rounded up by biologists on that isolated island no deer were hurt in that incident that is the news j update we always knew they could fly. >>> sue herera, the countdown to the biggest shopping day is on is a relief rally ahead? your edge on how to play that space is next. with every attempt to free itself, it only becomes mo

it's up more than 3 bucks, 2.7%, new high wal-mart, 1.24. the market still pretty close to record territory, scott deal with this for a second, please, doesn't seem like the market cares much about impeachment, no fresh news on trade, the fed not lowering rates in december, it's just shrugging everything off. >> it's funny, tough thing about markets and being investment adviser, markets change as investors do, stuff that elizabeth warren is saying as you guys have been playing so far today doesn't seem to be affects things too negatively. that's the time to run out and buy here. stuart: year-end rally, right, scott? >> i think it is, doesn't mean that this thing is straight up into the right through december 31. if we look at today versus the end of the year s&p will be higher by that point. >> we also have more on chinese trade as well, we had the report come out late in the session, did dip a bit for the markets when the wall street journal says that there have been snags over phase one, the closure of phase one because of agricultural purc

seems like it is close to some new high territory you still like it though >> well, we own nike in ourit is hard to argue with their leadership in the space they are in they've done a good job of narrowing their business back to focus on the core competencies a long time, it seemed nike got stretched into every possible sport, some noncore. it is about the shoes. we see nike as a better company than it was five years ago >> you like the management changes and management that is there now? >> certainly, you've had a management change and that can be disruptive but the shoe business is moving into more customization and more direct business they have announced they are no longer selling through amazon which implies to us they feel they are gaining more footing on their own. >> how about walmart and that plays in to what you were saying about amazon too >> right about five years ago, walmart came out and discussed how they weren't going to grow their earnings for a while so they could become the next amazon in a way, they have. they've grown their on line business and are a support system