but don't call him >> my name is rick kelly. this is my shop and build electric guitars.i've been doing this since, like, 1968. >> for more than half a century, this has been rick kelly's life. tucked away along the two-block stretch of new york's greenwich village, seemingly insulated from an evolution outside its doors is car mine street guitars. it's one of the few shops remaining in the city that still has its roots firmly planted in old new york. keeping the books in order, kelly's 93-year-old mother dorothy. >> new york city is so special. neighborhoods' gone through lots of changes, a lot of the old places, the old haunts kind of came and went. a lot of clubs are going under. >> even in a digital age where production is rapidly trending towards automation, everything here is still crafted by hand. >> a lot of wood out of chelsea, yeah, chummily's. chummily's in bedford. >> the sawdust that lines the floorboards on carmine st, old cultural landmarks, many that no longer exist. >>> you call the reclaimed wood you use in these guitars the old bones of new york. >> bon

. >>> as the government shutdown continues, we're joined by kelly mate rick, appropriations and budget reporter. what are some of the programs that are closed that are having the biggest impact on the american public? >> yes. so the irs, for example, treasury, lots of national parks, although some of those are trying to be kept open for longer. remember, there was only five of the 12 appropriations bills funding the government that were actually enacted into law before the end of 2018. so the other seven -- that's -- you know, there's homeland security, commerce, justice science, interior environment, agriculture, transportation, hud. and then there's also financial services. and then this -- you know, this homeland bill is one of the most contentious ones. this is the -- customs and border control, transportation security administration, the people who check our bags in airports. a lot of these people are being forced to work without pay right now. and the big -- the big event that we are looking to is this friday when federal workers -- epa is another big one -- are set to get a payc

kelly? >> thank you, rick mr. santelli, thank you so much. >>> bond yields rebounded. how about stocks all three major averages on pace for their eighth positive day out of the last ten. every s&p sector in the green today. more than 230 stocks in the s&p 500 are up more than 10% from the christmas eve lows and about two dozen of them are up more than 20% twitter, amazon and netflix are all leading the way. even chipotle and general electric are leading the mark. guy adami and dominic chu, welcome to you both. also craig callahan, founder and president of icon investors. >> i'm going to kick it back to you and say congratulations on -- i don't want to touch anything >> fingerprints are -- >> the chairs look great >> the bounce we've seen since christmas eve has been incredible now we're coming up to levels where we're seeing a 50% retracement of the all-time high, 2940 the low we made on christmas eve and now here we are now. a lot of people think we'll retest those lows. i'm one of those people. i think people got a little ahead of themselves. >> you think we're going

kelly. >> day 20 and the shutdown goes on thank you very much. elon moi >>> rick santelli is tracking at cnbc what was demand like >> roughly average if i was handicapping versus chairman powell so close, i would have given a c or c minus. positive actions though. i was impressed with the direct bitters but i see the volatility in the marketplace that necessarily, the three 30 year n but let's look at the charts as opposed to the closing points and you'll see two year deals have started to move higher but not at their ayest level up one currently, the highest yield of the day let's go to 30 year. what's interesting here is that up four basis points so steepening going on and the highest interday level for all 30 year bonds and the reason for that is calmness in the equity markets but even more so, a lot of data and the data we get isn't so bad out of china and europe is weaker so just on a relative basis, one of the big things is comparing our growth to the global growth and finally, the dollar index. it did make the lowest print interday of the year but it's had

. >>> as the government shutdown continues, we're joined by kelly mate rick, appropriations and budget reporter. what are some of the programs that are closed that are having the biggest impact on the american public? >> yes. so the irs, for example, treasury, lots of national parks, although some of those are trying to be kept open for longer. remember, there was only five of the 12 appropriations bills funding the government that were actually enacted into law before the end of 2018. so the other seven -- that's -- you know, there's homeland security, commerce, justice science, interior environment, agriculture, transportation, hud. and then there's also financial services. and then this -- you know, this homeland bill is one of the most

kelly, back to you >> thank you, rick rick santelli there. >>> the biggest of the year under way.e than 315 public companies and 9,000 attendees gathered at the j.p. morgan health care conference in san francisco. one is our own jim cramer with a full slate of power player interviews and sat down with lilly's ceo to talk about the deal of the day. the acquisition of biopharma company loxo oncology. >> we like to grow our presence in oncology. a good set of medicines because there's so much exciting science for patients so many things to invest in. particularly attractive to us because it's so rational that you can detect the kind of problem with the tumor growth and block it directly. >> jim cramer joining us now what do you think is most interesting for investors about this loxo deal >> what i like about it is that this is targeted, this is the way of the future. this company is actually a device company what you think about it it finds early on where the tumor might be to the point where you can still address it before you get to a lot of a nastier level. and dave is a very forw

. >> kristen welker at the white house, kelly o'donnell at the hill, thank you. let me bring in eli stokels. rick tyler, republican strategist, former maryland congresswoman donna edwards joins us. here we are. eli, you've been writing about this a ton. tell me what your sources are telling you. the last time this happened, i was 1 year old. this hasn't happened in decades. >> it is a record shutdown. the white house, i think it was more surprising last night that the president accepted the actual reality of the fact that he doesn't hold the cards on this one. speaker pelosi controls the house chamber. whatever letter he decided to send, that's not going to force her to open up the doors and say okay, go ahead and give your speech you're the president. the separation of powers has been something the president has has struggled to accept at times. the fact he accepted it last night is the fact of a white house that -- they just have a lot on their plate. they're not exactly sure of their move from day to day. they were basically out of moves. they had no choice but to pull back. the focus for the

kelly, back to you >> thank you, rick rick santelli. >>> exciting day for cnbc.ing a partnership with the financial wellness company acorns the ceo to join us with the details and talk investing for the future when "power lunch" returns. ♪ (vo) here's a question. was it necessary to create a luxury car more teched out than silicon valley? with a cockpit fit for aspaceship. hang on. radar that senses things the human eye can't. busted. and the ability to make a thousand decisions before you even make one. was all this, really necessary? what do you think? ♪ sometimes, they just drop in. obvious. cme group can help you navigate risks and capture opportunities. we enable you to reach global markets and drive forward with broader possibilities. cme group - how the world advances. ♪ at&t provides edge-to-edge intelligence, covering virtually every part of your finance business. and so if someone tries to breach your firewall in london & you start to panic... don't. because your cto says we've got allies on the outside... ...& security algorithms on the inside... ...&

kelly, back to you >> thank you, rick more on that brexit vote from listen don what do you see?reporter: i'm watching some of the members filing back into the chambers having cast their vote according to some photos tweeted by members of parliament from inside the lobbies, there's an overwhelming number of them cramming into the no lobby it looks likely based on those photographs, shouldn't be taking the photographs but based on the photographs, it does look likely the government will be defeated on this motion we'll have a formal count in just a few minutes for you guys but the consequence of that, of course, for teresa may, pretty significant. ruled out no deal brexit or any taernlts and insi alternatives and says there's no better options where we go from here, unclear >>vil >> is there going to be another vote or is she going to lose her job? >> reporter: these are questions i can't answer just yet, i've got to be honts wiest. she's facing the labor opposition party with no confidence in her, expeditiously. tonight possibly and if that happens, could turn trigger a fresh ele

kelly, back to you zpl thank you. over to the bond market now where yields on the two-year are moving lore. rick santelli tracking that for us >> yes what's interesting here is that the tens for the most part have been rather buoyant. as a matter of fact, as kelly pointed out, the new dynamic as of today and last night seems to be a curve steepening if you open it up, you can see how we've adjusted higher. it's subtle. why do i bring it up because all things being equal, if we take the statement at face value, if the economy is doing a bit better in the market and it's realizing that, there's more sper action between what the fed may do and what the market's telling them it thinks they should do, ultimately, the curve should steepen. the short end should be less calibra calibrated sort of what we're seeing. even though the dollar index is only a few ticks away, it was down about two-thirds. now down almost three quarters if the fed is less aggressive, that takes one channel of being long the dollar away ultimately to look at every word that any fed person says and hold it as moses set in stone i

kelly unkindly, thank you very much. the president, we will continue to cover the breaking news. thank you. i want to bring in republican senator rick scott of the budget and congress committee. he's part of the group that met with the president yesterday. senator scott, thank you for being on the program. he does protect kelly unkindly talking about the stalemate thao exist on l-uppercase-letter right now. i want to start with the state of the union and the importance of hearing for the president. and kelly on saying, members can go and sit quietly among the democrats if they don't want to clap. >> first off, i can't believe we are having this conversation. i've been up here two weeks, i'm a business guy, you get things done business. whether the present should give the state of the union address in the house, how we give us government open, how to be secure border, how do we make sure we're doing right thing for all of our citizens. it's very frustrating to me. as an example, we had a bill last week that chuck schumer blocked to pay our coast guard. i met with coast guard members sunday and monday and my state, and they need to ge

rick and i would say to our republican friends, this is not going to end well. they say don't worry so much, gary cohn is in the white house stopping the trade war. john kelly is a serious person, his chief of staff. h.r. mcmaster, security, jim mattis defense secretary. even jeff sessions, you may not love him, protecting the rule of law at the justice department. all gone, all replaced by people of much less stature and much less willingness or ability to stand up to the president. that's another huge change from where we were just several months ago. >> rick wilson -- >> sure. >> -- i'm going to give you an open net goal. i'm going to give you a layup shot. you choose the metaphor. how will paul ryan be remembered in terms of the great profiles in courage in politics in the last couple of decades? >> i could get in so much trouble with this one, brian -- >> oh, go ahead. >> i'm going to stop myself for once. but the profiles in courage is replaced by profiles in chicken. you know what the last word in that phrase is. paul ryan squandered his reputation and basically gave away the store to donald trump. he turned the house over as a wholly-owned subsidiar

kelly, over to you. >>> let's get to the bond market where the ten-year yield has been plunging. rick santelli tracking the action for us from the cme >> deja vu of january of 2018. but going the wrong way, if you look at an intraday chart of two year note yields, you see what all maturities look like, down five basis points no yield bounces. the two-year is only comp to mid-2018, june if you look at 5s, 10s 30s, one year as you see on this ten-year chart. and all maturities are down roughly five basis points. no curve implications today. the real action continues to be in foreign exchange, you can see the dollar yen there, we're comping back to april of last year and other relationships with that carry currency, all the shorts had to cover so quickly are in a bit worse shape, whether the euro versus the yen or the pound versus the yen. finally, the dollar index itself has been the antagonist to many of the multinationals. although it is the volatility that really should get you as you look at this chart, back to june of 2017, the last two and a half months we have been in a range bet

rick santelli at 266 on the ten-year, rick >> yes, since we settled at 268, we're officially down two basis points for the new year. what is interesting about that, kelly is two year note yields are up two basis points. already opening to a flattening yield curve in 2019. there you see a chart of the intraday 10s we're referencing it has been pretty steady as she goes here at 62, 266 basis points if we look at the dollar index, anything but steady. it has been a rocketship, actually, off very low levels we haven't closed at since the third week in october. never had that sub-96 closing, an intraday trade there on very light holiday markets. if you look at the beginning of november, for two very important etfs, first hyg, the high yield etf, it is fighting a bit, so are treasuries to some extent f you look at the lqd, it is building taking out the important 2018 end of the year higher level that it traded. we want to monitor credit spreads both in etf form and securities form as an early barometer on changing sentiment, one of 9 the big driving forces, the best collateral, if you want to get the smallest haircut and big institution, it is treasuries tha