. >>> mike santoli is tracking market action. leslie picker is following coin base which just filed for an ipo. we have information on the crackdown of robin hood. and meg tirrell is refewing the fed's decision on the moderna vaccine. mike santoli we gwynn with you. >> seasonal good cheer, why the markets continue this slow upward leiftation. the s&p. next stop, options expiration, that stuff feeding into the slow grinding strength that we have 2, 726 or so is exactly 70% above the intraday loaf march 23rd a nine month move of 70% the move has moderated and cooled off a little bit in the broad market i want to look at a handful of catchup trades that have been pronounced in the quarter to date look at small caps leaders up today 1%. that's the iwm the rest of the world besides the u.s. up well more than the s&p 500. a little bit more than the s&p this quarter xls, energies has had a big move in a short period of time. however, look at the same four on a therein-year basis and you will see how much territory they had to remain in

mike santoli, thank you. >>> to the clear short-term driver for the market, a stimulus deal. ylan moi has been tracking all the twists and turns what's the latest? >> sara, house speaker nancy pelosi and senator majority leader mitch mcconnell are back at the bargaining table. the two of them spoke over the phone earlier this afternoon about both a government funding bill as well as another coronavirus relief deal. now those things are being negotiated separately. but they are expected to be bundled together for a final vote pelosi's office said the two sides have a shared commitment to getting the two pieces of legislation done as quickly as possible mcconnell's office did not kmend comment but earlier today on the senate floor he did say that a compromise is within reach now, it has been a long time since the leaders of these two chambers spoke earlier this week pelosi sent mcconnell a private letter with a new proposal for a covid relief deal. however since then they have switched course and gotten behind the $908 billion framework from a bipartisan group of lawmakers mcco

mike santoli is watching the market action. bob pisani is watching tesla as the company gets set to join the s&p 500, if you have living under a rock and meg tirrell has the latest on the coronavirus vaccine mike, let's begin with the market what could be a volatile after-hours session today. >> tremendous amount of mechanical flows churning back and forth related to not just the index rebalancing but the options expiration all of this has been coming at a time when the s&p has been hovering around 3,700. first touched it ten or 12 days ago. we are about a percent above where we stretched up toward early in november. this flattening out phase hasn't done any damage but slowed things down to some degree and maybe allowed the market to digest meanwhile the rest of the market is where high energy wild stuff is goingan look at the overall trading volumes. this is not just about the index. this is based on quarterly numbers of dollar volume in u.s. equity trading it goes back to three years ago when we were at around less than $300

high growth, scott cutler, we will get his take on the e competition in apparel and sneakers mike santolihe market covered. ylan moi is tracking the latest movements on a stimulus deal and we will dig about sboo the jobs report with dana peterson. mike first to you. what are you seeing behind the charts. >> almost all news translated to good news for the market in this current mood that investors are in if you look at a five-year chart. decided to broaden it out here -- more like a three year chart of the s&p 500 it is kinds of an up and away move yes, wos than forecast jobs numbers but better than feared and nothing getting in the way of this idea we are positioning for a better 2021. leaders are good semiconductors and brokerage stocks -- everything you want to see in a bull market let me point thing out i am taking liberties drawing this trend line here but a lot of folks are saying how much more are you going to be able to get? it is getting stretched i keep saying that but markets can stay overbought. in the past two post election cycles, 2012, margaret had a little bit of turbulence

mike santoli coming to you first.re with tech, with communication services, highlighting the point we mentioned that this was a sort of broad positive day even though we slipped approaching the close. >> eclectic. we talked about the treasury yields moving higher, .90 on the ten-year at the same time, high yield debt rallied really strongly today and compressed those spreads. that's all positive backdrop why not? we are processing the vaccines, the rising earnings estimates and expectations we are going to be through this period of difficulty ina while i think the issue becomes how overexcited it is. the market is overextended the bulls are pushing their luck it is not unusual but at some point you get where you need a lot more good news to feed it. >> joe, i like to track these numbers. s&p's year to date 27th record close, nasdaq 47th record close. people wonder is it too late to get in joe? joe? joe is frozen. mike santoli, do you want to take that? >> i would be happy to take it almost all the indicators i look at

mike santoli tracking the market action ylan moi with the latest on the stimulus in washington and we have the latest on what it means for the economy mike santoli start us off. >> just a few feet away. it has been a steady rally under the surface, about half of all the volume is to the downside the mega caps rallying along with value stocks. it seems there is a lot of money coming out of the really overheated momentum stuff that worked in december and going into things like mega cap. look at that, very consistent upturn we have seen here it has kind of left a lot of the emotion and the crazy to speculative growth plays outside of the index we will see if that insulates it or not a lot of folks are looking at 3750 as the near term objective. maybe when we run the tank empty on this move the high yield etf continues to make progress to the upside. treasury yields are going up that would mean you would expect weak innocence the price of all bonds but that's not happening and it goes all the way back to february right before that big free fall. that's positive from a macro signal point o

let's go back to mike santoli for a look at the economic surprise index. >> the u.s.onomic surprise index, the magnitude of the shock, the depth of the decline, also the policy response and the upside surprise in terms of the economy fairing better than economists expected. that's probably never going to be repeated again. a consistent show of better than expected results now they have adjusted this is going to come back down as economists raise their vos and the data coming closer to consensus but we are trending lower. that happened at a time when the overall markets are much more focused to just turning their sights to next year. the numbers coming in now are less important than what happens post vaccine and during the first quarter of 2021. ten-year yields minus two-year yields three recovery cycles, early 2000s, then of course right in here in the financial crisis recession, coming out of that. then you see this steepening move it has been pretty steady. in other words the bond market is still positions for better economic results looking on meanwhile with the fe

and mike santoli cnbc senior markets commentator.k at how we finished on wall street the dow closed around session lows, down 200 points. a few attempts at positivity but we closed lowerfight despite apple's gain s&p 500 down .2% the sectors that led us lower, energy, communication services, and consumer staples both technology and real estate finished positive. that was about it in the s&p as for the nasdaq, at a record, up half a percent thanks to some strength in names like apple and microsoft. paypal also have a good day. ado adobe. some of the tech winners facebook, tesla, and google were all lower on the day and there is the new star, the russell 2000 index of small caps outperforming the s&p yet again, and now for the year at a new record high, up 1% coming up this hour, investor bill gurley on why he thinks the s.e.c.'s approval of the new york stock exchange new direct listing proposal is a huge win for companies going public >>> first let's talk markets eugene profit is still with us victoria hernandez joins the conversatio

mike santoli on market meg tirrell has an update on vaccine progress sticking with vaccines, frank collins will give us a case study how the vaccine will be kploid mike first to you, at the ends of an interesting week, a little bit of win taken out of the sails. >> going sideways to down for the s&p 500. really being left out out of awful the fun. the endy spaks and the ipos shooting all over the place and the s&p sliding sideways november 9th we keep talking about it, the intraday high, that day, pfizer monday was the high. we hit it again this morning we keep kind of bumping along on what might be considered the floor of this upper range right here september 2nd, less than 2% above that level going sideways koss that mean the market has been resilient in the face of the covid surge and a lot of new supply of shares or has it lost buying energy? so far no trend change look at stocks versus bond this is a year to date of the treasury exchange etf against the s&p 500. they start together. they came together here. december stocks were ready to overtake and then went the other way. you had a

just like santoli, thank you, diana olick. mike, good morning how are you?> good morning. >> did santa bring you everything you wanted? >> yeah, no complaints no complaints this year. >> what do we want when you get to where we have everything? >> a little bit of time alone, i don't know >> underwear >> although that's not what we wanted after this year it was tough to come up with a list but i guess i'm in good shape not having any regrets on it let's talk about what's going on across the world here. shares of alibaba fell nearly 8% in hong kong overnight the stock down about 8% in the previous session last thursday as well after chinese regulators announced a probe into monopolistic behavior. tencent also fell sharply. >> baba shares fail, antgroup is ordered to comply with regulatory requirements and rectify its businesses china bank executives ordered them to bring their business into compliance with regulators and switch the focus back to the payments business. it said antgroup lacks sound governance, defied regulatory compliance and engaged in regulato

. >> all right we'll focus now on the big stories we're watching, mike santoli watching the market action as always kayla has the drama surrounding that new stimulus bill and meg tirrell on pfizer's new vaccine deal with the united states. mike, start us off with the market and the strength we're seeing, which is pretty broad right now. >> it is, and tilted toward those cyclical sectors that have sat out the last couple of weeks. largely flat around this range, hovering near the highs with some rotation underneath taking turns with different types of stocks, groups. it seems relatively healthy if not so energetic i think you can look at this as being the market just cooling off after that heated move from october 30th to the first week of december. however, while the s&p has been going sideways, look at these other subsectors of the market racing higher. i charted this since december 8th, which is the first day the s&p crossed above 3700 you can see very, very flat for the s&p, which is 75, 80% of the overall market value iclean, over 20% russell small cap growth, growth segment of the sm

mike santoli tracking the market ylan mui has the latest on the $2,000 stimulus checks and the question whether that will pass in washington. mike, start us off with the action you're seeing in stocks. >> yeah, sara. some drift upper tilt all day especially among the hovering here couple trend lines nothing out of whack we're on track for a 15.5% gain for 2020 in the s&p 500. while it's amazing, given where we were in march they're perfectly on trend now it's 15% gain annual wise since the 2016 election. also since the 2009 low. even though things seem like they're ahead of themselves on some respects it's really not necessarily a change of the longer term return trends. take a look at the one way of viewing the aggressiveness or defensiveness of the market. anti-beta etf. it essentially is long, low beta etfs, very, very stable stocks it is short high beta stocks the more risky, aggressive, cyclical stocks. massive decline right here since early november, which has been a beta chase everyone going for the riskier stuff. but it's not unusual to see this toward the end of a year we still

. >>> first the storieser with watching today mike santoli on the market hey la tausche -- kayla koushy -- >> the market is comfortable around these levels. market looks extended, sentiment is too happy is what could be said but no warnings showing up from credit or other capital parts of the market to say there is stress going on. zero real interest rates for high grade corporate debt right now. hard to get in too much trouble. you see a gentle but steady up trend we have had. pointing out the old highs probably would be the floor to this new range if indeed we do get a pullback we are about flat for the week for the s&p 500. it is important to keep an eye on the fact that the high adrenaline parts this market continue to really put the impetus to the upside meaning the more speculative racier areas of the market have been driving thing. this is a handful of sectors, handful of etfs. ivbj small tech biotech. clean energy, iwc, micro cap etf. small hear the the russell 2000. the micro cap sector of the market, up 28 since the end of september as against 10% for the s&p 500. moves moving

. >>> ghcood morning, i'm melissa lee along with joe kernen and mike santoli yesterday we notched record closes for all three major indices and we're looking to build on those s&p 500 looking up 19 at the open, dow by 165, nasdaq by 55 taking a look at treasury yields, we do see them moving a little bit lower compared to yesterday. we have the ten year at 0.943% two year at 0.127% >> and the boeing 737 max returning to the skies for paying passengers today. american airlines will carry about 180 passengers from miami to new york this morning phil lebeau will be on that flight and he will join us at 6:30 a.m >> what's capacity and do we know -- is it full capacity how are they doing it, middle seats, what do we know, 180, that's not full, right but that is how many people will be on it have to get to the bottom of this >> phil will have the bottom >> fuller than most planes right now. >> reading the articles and all the scuttlebutt, just so many factors of the confluence of so many different things. you had the whole 737 max problem and then you got covid, so now you are reintroducing it

. >>> let's focus on the big stories we are watching this hour mike santoli tracking the market action meg tirrell covering the concerns over the new coronavirus strain in europe and ylan moi with the latest on the long awaited stimulus bill mike, start us off with the margaret and the recovery we have seen. >> looked like coming into the day it was going to be a stiff test of the bulls' convick right after the open the s&p hit a low this morning of 3636 this brought it down late and mid november levels. there was a little bit of a test of dip buying condition vix. we did pass it at least so far still down. we have been hanging around the 2,700 area for two or three weeks now. it seems like the margaret has slowed down to a certain degree. bullish sentiment, flows into stock funds. very, very strong. shows me we have maybe priced in a fair bit of good news this market has absorbed a lot of potential selling pressure, including rebalancing out of stocks into bonds which is something pension and asset allocators have been doing and likely this week will be doing this is outperformance of

michael santoli, deirdre bosa and, yes, ed lee joining us for "rapid fire. the bitcoin bonanza.rency doubling in the past month and one particular investors key to driving all those gains. that story right after this quick break. supermarket gives you the most bang for your buck. something else that's good to know? if you have medicare and medicaid you may be able to get more healthcare benefits through a humana medicare advantage plan. call the number on your screen now and speak to a licensed humana sales agent to see if you qualify. learn about plans that could give you more healthcare benefits than you have today. depending on the plan you choose, you could have your doctor, hospital and prescription drug coverage in one convenient plan. from humana, a company with nearly 60 years of experience in the healthcare industry. you'll have lots of doctors and specialists to choose from. and, if you have medicare and medicaid, a humana plan may give you other important benefits. depending on where you live, they could include dental, vision and hearing coverage. you may also get ri

mike santoli here to break down these crucial moments of the trading day.with us as well. good afternoon, stephanie. let's kick things off with the broader markets. nasdaq leading the charge. s&p 500 just turned positive dow is fractionally negative we are well off the lows of the session, having opened lower mike, the sort of sector performance today an odd one you don't usually see energy and tech at the top. most things are flat with a few individual winners the market has cloed'd slowed down there have been a uhl few pullback taemtsz en in of them got a lot of downside momentum. no net damage done at the index level. energy benefits from the year end laggards that can move a lot in a short period of time type of trading really, there is not a lot to take away from -- to say there is any kind of a trend change under way with the broad market. >> have you been surprised, steph, to see the resilience of the market in the face of, i don't know, you could call ecb's move this morning disappointing because the euro went up, which is not what it's supposed to

time for rapid fire head to break down the headlines are leslie picker, julia boorstin and michael santolit of all, disney, nothing short of a tumultuous year for disney but the stock has clawed its way back to an all-tie high, thanks to the grows of disney plus they face a lot of competition as everyone goes all in on streaming. more people are cutting the cord last time was the last time pay tv operators lover lost more than a million subscribers and tv streaming bundles, julia, added just as many what does disney need to say and not say in order to keep the positive investor sentiment flowing? >> well, what we're seeing, kelly, is that people are willing to pay for content. they are paying for it in a different format, and i think whatever the concern is about cord-cutting, there is optimism about people paying for these digital streaming bundles, and there's also a lot of optimism about disney plus. i think it's really notable that disney's big investor day tomorrow which is really going to be about the focus on the direct-to-consumer relationship hand how they are going to navigate th

welcome to "squawk box" here on cnbc i'm becky quick along with joe kenner and mike santoli.ndrew is off today. let's take a look at the u.s. equity futures what a difference a day makes. things are looking different today than they were yesterday right now dow futures are down about 30 s&p 500 up by about 3.5, nasdaq up by 42. but yet at this time, the dow was off by more than 500 points we were watching things slide rapidly. and that is not the way the markets closed the day yesterday the dow actually ended in positive territory and that was a comeback to kind of watch and keep an eye on mike santoli will talk more about that in a second we did close well off the session lows, the s&p 500 and nasdaq were lower, but barely. it was an average selloff given where we started the morning let's take a look at the treasury yields. you will see right now it looks like the ten year seems to be yields at 0.938% and mike, that was an incredible turnaround yesterday >> and as a matter of fact the bond market in a sense gave clearance for stocks to rebound. the ten year went done below

we have a panel to have the conversation mike santoli to you.ally continues in the nasdaq interesting to see the russel outperform on a day when the sector construct might have suggested otherwise played out by the fact that the dow is down half a percent. >> right exactly. you know, it wasn't exactly a one haddan way trade that explains he everything that was going on today i think you could look at the nasdaq and say tesla is up 7%. that matters a lock for the nasdaq right now in terms of overall performance. so i think it was idiosyncratic in that respect. in general a little bit of fatigue in some of the largest cyclical stocks, industrials, consumer discretionary that have had this nice run. really the position market is in now is we have already mostly gotten on board with this idea that we are looking into what's going on with covid cases and vaccines how much of that is priced in at the moment people just new reembraced stocks in the last four or five weeks in a way they had not before today it is much the same story. benign action overa

by the way, welcome to closing bell, everyone i'm sara isen with mike santoli today as wilfred frost is on holiday for the holidays mike, as far as market reaction, soothing to hear powell sound very accommodative he did not change the composition of the bond purchases as some thought he might. didn't talk about buying or focusing in on the longer end but did talk about the fact that the fed is there and could do more if needed. >> absolutely. s&p at the highs it was a comforting message, and i think investors largely comforted. not too surprising, many of the details. we'll certainly get much more into the fed and the response in a moment also coming up on the show, high time for a deal. ceos of tilray and aphria. plus, ceo of adidas weighs in on everything from kanye west and the focus of its brand let's bring in david zerbos, and paul mccauley, former pimco chief economist. thanks for sitting there, watching the press conference with us. paul, let me start with you. as sara was saying, chair powell was really vociferous in saying, look, we know the economy is going to get better n

first, mike santoli tracks the final trading session of the year and steve liesman has an outlook on economic data for us. >> mike, let's start with you. nasdaq down, but could get record closes for the other two indexes. >> a one-year look and year to date, same thing, minus an hour of the s&p 500 i want to remind folk. look at the start of this year the same angle of ascent the orderly increase the fourth quarter of 2019 s&p was up 10% fourth quarter of this year it is up 11%. it is in a similar mode, upward grind led by tech, people asking if it is too expensive i think it is interesting that we are entering the new year with a lot of the same debates going on about the staying power in the market given the valuations sometimes the best way to get a look of the what has gone on the last year is to take a longer term view. this is a kbots. i drew this trend line it has been an amazing march over the last decade it has been outperforming the s&p for a very, very long time look at this this launch above the trend line essentially this kell rags that we have seen in the big cap tech s

welcome to "squawk box" here on cnbc i'm becky quick along with joe kenner and mike santoli.is off today. let's take a look at the u.s. equity futures what a difference a day makes. things are looking different today than they were yesterday right now dow futures are down about 30 s&p 500 up by about 3.5, nasdaq up by 42. but yet at this time, the dow was off by more than 500 points we were watching things slide rapidly. and that is not the way the markets closed the day yesterday the dow actually ended in positive territory and that was a comeback to kind of watch and keep an eye on mike santoli will talk more about that in a second we did close well off the session lows, the s&p 500 and nasdaq were lower, but barely. it was an average selloff given where we started the morning let's take a look at the treasury yields. you will see

santoli. mike >> reporter: tyler, thank you very much. been dip buying active since the open really a modest decline in the s&p right now, a little more than half a percent. the low in the morning was about 36.36 so in the morning we swept away most of december's gains. back to late november levels here we are the dow a little bit green. check out the dow futures overnight. we did have that selloff originating in europe. some of these concerns about a new coronavirus strain you can see right around 6:00 a.m. we bottomed out that the decline happened mostly around the european open and we've fought our way back. it should be noted that the dow is really benefiting today from jpmorgan, goldman sachs and nike all three of those together are creating about 200 points of upside support for the dow, and take a look at the bank stocks they are reacting to friday's somewhat surprising news that the fed would allow them to restart share repurchases in limited amounts, and you can see that this was not really expected the market was a little bit wr

here to break down the headlines are michael santoli, deirdre bosa and bob pisani.erybody uber is selling its self-driving unit for a lot less than it was worth a year ago the decision to sell the group is worth $4 billion, half of its 2019 valuation uber will invest $400 billion into aurora's bringing aurora's value to $10 billion deirdre, why, i mean, listen we know uber, it seems to be sell off some things that it can. it's clearly not interested in waiting around to command a higher valuation for this unit what does that tell you? >> it's been commanding a higher value by selling off the units the owner is an operator, not a founder like travis kalanick who sells the self-driving technology was existential for the company's future and the way it got to profitability. the other day i was reading an art until in "the wall street journal," "uber, an online taxi company" which is what it has become it sold off other parts of the business that made it the disrupt their it was earlier they sold off their e-bike and scooter business early on in the pandemic when they w

here to break down the stories, dominic chu, leslie picker and michael santoli.ther pet ipo or a pet spac this time bark box, a subscription box for dog is going public. shares will list on the nyse under the ticker bark. chewy was top pick and raised target to 110. dom, what do you say >> it's a 250% rise for chewy so it makes sense that some pet care companies want to take advantage of a rising tide i'm one of those people who does it, i have two dogs at home. i know mike santoli has pets at home as well we're one of millions of americans out there who continue to spend on pets so it perhaps makes sense that you're trying to strike while the iron is hot. yes, those are my two dogs they're older now than they are in that photo, but still they are some cute pups, which is why i continue to spend money on them. >> leslie, what about the spac vehicle? >> that's up about 20% today, indicating that the investors in that spac are excited about the prospect of getting into this space and new investors would come in and bid that thing higher that's usually indicative of

look at that price for bitcoin we'll start with the market and mike santoli is here with more on that. mike, you say today has kind of a reopening feel to it. >> it certainly does every time you think the vaccine optimism may be priced not market, i joked every day that passes presumably is a day to when we're fully back to normal so maybe that's the reason to buy some more. let take a look at the mainly or indices. real synchronicity between the s&p and nasdaq happens sometimes when apple is a big winner s&p officially up more than 15% and price year to date and also up more than 70% from the march low show those are two eclipsed today. here's a closer look at that reopening type of trade. leisure and entertainment stocks, an etf for that as a pretty steady uptrend since the eexwill. tics you back to february 25th so you have the initial burst lower and basically recovered almost everything until then and then, of course, the flip side of that have is the stay-at-home work-from work, workout from home type of stocks have begun to roll over in a more pronounced way take a look at pelo

santoly will talk about that by eliminating risks and reducing spreads, even though the fed ended upvery little but it brought the central bank into the area it may regret because of the political implications you saw that just recently in the fight over the latest round of stimulus where senator pat toomey moved to limit the fed's ability to do that type of lending again. the incoming administration argued, hey, we should have the same flexibility as the previous one. i think a debate over how far the fed can go will be a feature of every recession from now on, kelly. >> i love that you picked the eric rosengren moment. we asked you and mike this question separately, and you both put your finger on the exact same thing stay right there, mike >> i didn't know that. i didn't know that >> oh, yeah. mike, tell us what you think the most significant or dramatic moment was >> the specific moment that i point to is boeing's debt offering of april 30th so, march 23rd, after the rosengren comments, of course the fed did come out and more or less say, we will buy a full range of assets, when

deirdre bosa, leslie picker, mike santoli and maureen farrell from "the wall street journal." >>> we'llalk about ceos and one firm seeing the sun setting on home rentals. we'll have more on this all in just a moment. ♪ ♪ ♪ ♪ >>> welcome back let's catch you up on a couple of different stories on your radar today. it is rapid fire here to break down the headlines are robert frank, seema modi and mike santoli we want to start with this booking boom coming off the airbnb ipo moments ago seema spoke with the ceo of one of their biggest rivals today, bookings ceo glenn fogle >> i do believe that happening with this pandemic move forward, people now believe the home is the place to stay sometimes. they're going to look through next year, the year after and say, not sure home or hotel and then they'll make a decision the great thing about booking.com is we have the greatest, greatest list of both homes and hotels so, we're very well positioned for this >> of course, sounding a positive note there, seema, but why are some analysts calling for a deep freeze on the home rental market? >> it is wo

julia boorstin, mike santoli and deirdre bosa for rapid fire. moderna more than doubling over the past month it's up more than 118% and one strategist has likened this rally to someone running are up a snow-capped hill as fast as he can only to slide back down again. he's going to talk about what he means by that in just a moment first, boost stocks found a bid on vaccine hopes we'll hear from the ceo of moulson-coors is ashes lt areap 20% in a month we're back in two minutes. i felt like... ...i was just fighting an uphill battle in my career. so when i heard about the applied digital skills courses, i'm thinking i can become more marketable. you don't need to be a computer expert to be great at this. these are skills lots of people can learn. i feel hopeful about the future now. ♪ before money, people atools, cattle, grain, even shells represented value. then currency came along. they made it out of copper, gold, silver, wampum. soon people decided to put all that value into a piece of paper, then proceeded to wave goodbye to value, printing u

mike santoli, seema mody and bob pisani joining us for "rapid fire" today. >>> still ahead, we're a littleess than 20 minutes away from the fed's last decision on interest rates in what has been a wild and you precedented year. bring that to you right at 2:00 p.m. eastern, but first telehealth stocks are tanking as one tech giant may be looking to e deilar the space thtas e next on "the exchange." good to know. like where to find the cheapest gas in town and which supermarket gives you the most bang for your buck. something else that's good to know? if you have medicare and medicaid you may be able to get more healthcare benefits through a humana medicare advantage plan. call the number on your screen now and speak to a licensed humana sales agent to see if you qualify. learn about plans that could give you more healthcare benefits than you have today. depending on the plan you choose, you could have your doctor, hospital and prescription drug coverage in one convenient plan. from humana, a company with nearly 60 years of experience in the healthcare industry. you'll have lots of doctors a

here to break down the headlines, dominic chu, leslie picker and mike santoli. to go public again. it reportedly plans to raise $will hundred million in the ipo and will trade on the nasdaq under the ticker woof, of course this is its third time going public petco last traded in 2006. this couldn't come at a better time because people are spending big bucks on their pet pet care spending is expected to hit a record $99 billion this year, nearly 67% of u.s. households now owning at least one pet. that's the highest level on record and pet owners are expected to spend $38 billion on food and treats alone and it will be a very happy holiday season for our furry friends consumers will spend $9 billion on pet gifts and supplies this year dom, listen, is this the best of -- you would think a brick and mortar store wouldn't be that well-position right now to go public, but what do you think about petco? >> it's one of those situations where many of these types of stores not only have that brick and more tore presence but omni channel distribution as well where you can

leslie picker on that incredible first day of trade for doordash, and mike santoli, as always, tracking the markets mike, first to you. >> we're taking a step back. we hovered around the highs just as doordash opened, matter of fact, is when the overall nasdaq had a sharp pull back. it was almost this last little burst of enthusiasm. november 9th, the intra-day high was actually 3645, less than 1% down from here we actually touched that level going back a month at this point. we're still hovering a little bit above that right now seems as if the market is still holding together just fine we've been talking about it being stretched on a technical basis. a lot of build up of bullish sentiment and maybe that nasdaq move was one of pent-up selling hitting the market in terms of its reach for faster moving stocks lately, russell 1000 has tremendous overlap with the s&p 500. you can see they ride one another largely. this is a two-year chart look what happened recently, though, separation smaller stocks doing better. some of it is the very large market cap stocks that are not yet in the s&p 5

i'm carl quintanilla with morgan brennan and mike santoli cramer and david faber have the morning off. premarket pretty steady, record highs for the nasdaq russell stimulus relief gets a last minute curveball but market is more focused on this government deal for new pfizer vaccines, jobless claims better than expected and core durables disappointed. road map begins with that deal for pfizer 100 million more doses are set to come by the end of july >> then is a new world for direct listings the end of the traditional ipo. we'll explain that this hour as well >> and finally, tim cook refused a meeting with elon musk three years ago, a potential buyout of tesla. that's those those details are next. >> let's talk about the setup as we get this day and half a day tomorrow before we break for the christmas weekend. typically we head into this period, it is about liquidity and the lack of news that's not the case this morning. >> no. it is not -- we're not worried about the lack of news now there is plenty to chew on and in terms of liquidity, the market has been, you know, kind of just slo

as tyler mentioned, moderna vaccine providing a shot in the arm for stocks let's start with mike santoli. >> an overnight scare related to the new strain related to the coronavirus overseas but maybe a bit of a rethink here as we don't really necessarily think it going to be something that challenges the vaccine the overall story of stimulus, easy money here's the intra day of the s&p. you saw a selloff right after the open we got rid of all the up side that had been in the books since september. take a look also at bonds. the bond market has also had a similar path we actually had a little decline in yields, depression in yields and they've also bounced back. essentially the bond market saying we probably don't have anything necessarily going on here that's going to change the overall macro story. the fed gave the banks the clear. you see jpmorgan nudging a new postcoronavirus. and energy actually coming off travel related as well as energy shares this is on a one-month basis we peaked a couple of weeks ago with energy. that is a little bit of a drag but overall the market did find its

big stories we're watching, mike santoli, looking at this action, and comeback we're seeing for stocks meg tirrell on the rollout for the vaccine. mi mike, to you. >> markets holding firm, first of the month boost we got yesterday. kind of very gently extending toward these new highs again, a lot of measures internally getting a little overbought. the steepening of the treasury yield curve, it's as steep as it's been in, i think, 2 1/2 years. so we're not quite back where we were right there and also right here back in june. but essentially this is an uptrend. it's pretty solid as the short end remains anchored bullish thing. bond market responding to inflationary resources in the world in the economy, looking for a recovery next year that's generally a positive thing. the big question is, what does it mean for stocks if this rise in yields continues? the short answer is in recent decades, those two things have gone together, rising stocks and rising yields. this is a global measure of equity performance with bond yields rising and falling, the correlations there for the past two decad

. >> michael, we appreciate it mike santoli >> the inning k on the deal isn dry. let's go to ylan mui for that. >> the president almost department put ink on the paper because he wanted the direct checks to be $2,000 instead of $600 now congress will begin voting today to increase the size of those payments the house has just convened for its last working session of the year and democrats have really latched on to this idea. this is the second time the house will have tried to pass a stand alone bill for $2,000 checks when they tried to do this last week, republicans blocked it yesterday speaker of the house nancy pelosi called every republican vote against this bill a vote to deny the financial hardship that families face and to deny the american people the relief they need. this time the bill is expected to clear the house and there are some gop lawmakers who will support it i'm told that republican leadership is not whipping this bill, they are mere lily telling senators to vote their conscience it is unclear if and how majority leader mitch mcconnell will allo

. >> yep as santoli said if, the market got this wrong, it's one of the biggest mistakes the market'sr made. incredible dom, thanks. watch boeing as well massive move as ryan air agrees to buy new 737 maxes now $240 which more than -- is more than enough to take out the june high. it's adding 100 points to the 'rba ia do wee ckn moment ♪ should auld acquaintance be forgot ♪ ♪ and never brought to mind ♪ should auld acquaintance be forgot ♪ ♪ and auld lang syne ♪ we'll take a cup of kindness yet ♪ ♪ for auld lang syne next customer please. ♪ ♪ >>> amazon is in exclusive talks to buy podcast start-up wondery. they value them at more than $300 million it is the last large independent podcaster on the market. other podcast startups have been bought by larger players in recent years carl, this is that odd space, i think, where apple absolutely created and defined the podcasting market and then just seems to kind of walk away from it they promised some tools a couple years ago i feel like we never really got good tools meanwhile, this multibillion dollar industry has continued to evolve am

stocks. >> we'll leave the conversation there, mike, thank you for joining us this morning, mike santoli>>> health systems and hospitals all across the nation are rolling out the covid vaccine to their front line workers we are seeing a record high in hospitalizations in the u.s. joining us to talk about this as well as what's going on on the ground at the hospital is the ceo of nebraska medicine, dr. james linder >> great to be with you. >> there are two i guess different narratives push/pull narratives playing out right now where this pandemic is concerned. on the one hand we have the vaccine rollout and the fact there seems to be light at the end of the tunnel, as supplies are starting to ramp up here and on the other hand, you have the increase at least from a nationwide standpoint in covid cases and hospitalizations what are you seeing in your hospital system on the ground right now, as you do roll out vaccines >> in the midwest, we actually had some of our peak covid cases before thanksgiving, and so we've actually had a downturn in cases in the last month or so, and depending on w

. >>> ghcood morning, i'm melissa lee along with joe kernen and mike santoli yesterday we notched recordall three major indices and we're looking to build on those s&p 500 looking up 19 at the open, dow by 165, nasdaq by 55 taking a look at treasury yields, we do see them moving a little bit lower compared to yesterday. we have the ten year at 0.943% two year at 0.127% >> and the boeing 737 max returning to the skies for paying passengers today. american airlines will carry about 18

their store location so give consideration to dillard's as well >> let get headlines with mike s santoli. >> in minneapolis, police will release body cam video from a traffic stop that ended with a man shot dead, the first police-involved death since george floyd a crowd formed at the site of the shooting last night. >> the u.k. reporting 5,000 ne covid cases today. they are urging people not to go out for new year's eve >>> pope frances skipping the vatican new year's eve because of a flair up of his sciatica. and back in britain, the father of prime minister boris johnson is applying for french citizenship. stanley johnson says he's french because of his mother. stanley johnson was a member of the european parliament who voted for the urchl.k. to remain the eu >> sciatica is no joke mike sto, ananlithk you. >> unusual activity trades are next "halftime" back after this yourg else that's good to know? if you have medicare and medicaid you may be able to get more healthcare benefits through a humana medicare advantage plan. call the number on your screen now and speak to a licensed human

we're following two big stories impacting the markets and your money at this hour mike santoli is goingop of the breadth of the recent rally. first we'll get it over to ylan mui with the suddenly optimistic stimulus talks. good morning, again. >> reporter: andrew, those talks did last late into last night as leadership from both parties try to hammer out this deal before the end of the week because that's when the government runs out of money december 18th. lawmakers are hoping to pass a comprehensive spending bill alongside another covid relief package. republicans and democrats did sound pretty up beat after several rounds on capitol hill yesterday with treasury secretary steven mnuchin dialing in over the phone. senate majority leader mitch mcconnell said they were making progress and he's optimistic that lawmakers will come to a complete understanding sometime soon the one thing they are in agreement on is that nobody's going home until this job is done here's what mcconnell told reporters earlier in the day >> we're not leaving here without a covid package. not going to happen. we'

that's what worries me >> the current bill that we're looking at, specifically, richard, santoli justit after we pass it, i guess, it's one of those, but is it -- is it -- is -- we've heard complaints today that 600 is going to some people that are already employed and not bad off, not enough is going to people that need it. is there anything to people that you think is needed, is a positive in the bill there's a lot of pork. >> there's always a lot of pork. that's the way congress tries to work they're trying to satisfy whoever is giving them the worst r most money and whatever constituents want. i do think something was needed here, i just did not want to see someone pile on like we're seeing from the president right now. to me that's reckless and wrong. so we'll have to see joe, you know as well as i do, we've been around a long time, that whatever congress does is laidened with pork it's just the way it works i was hoping senator mcconnell and the republicans in the senate would con strain this we'll see. i would also hope, i don't see it right now that they would have enough to o

mike santoli is monitoring the markets, looking at if most of the vaccine news is priced in.imulus. >> the biggest development is we are getting talks between mitch mcconnell and nancy pelosi they spoke yesterday, and take a look at the statement from mitch mcconnell who's suggesting that both he and pelosi are interested in getting to an outcome here that sounds like bland washington speak, and it is, but it is a signal that there are some real negotiations going on behind the scenes, so the expectation now is that there could be a potential for about a $908 billion bill, only 300 to 350 billion of that would necessarily be new money some of the other money in the deal could come from the c.a.r.e.s act funds and ppe funds that weren't used last time around, redirect those to new targets. less clear is a prospect for a spending bill by the endov of t year that was hanging as well the prospect of the relief bill out there. not clear where that's going to go and we saw a fascinating series of tweets from the president of the united states threatening to veto the $740 billion de

faber with morgan brennan and mike santoli futures as we head to the final trading day of the year. we're set up for a lower open, not much of anything not much of anything that will keep our viewers tuned in, won't it that's where our road map starts this morning >> exciting. >> yeah, stocks continue to post freshhighs, to close out the year. >> that's right. mcconnell blocking stimulus. what the senate majority leader is taking about the $2,000 checks. >> protecting the vaccine. what is being done to combat fraud as the rollout continues >> we will start this hour, though, with stocks, and, mike, you can always make it interesting for our viewers. you and i were talking prior to coming on air, and i asked you, what is of interest, and you did mention the performance number this year. it was a key number that we have seen a number of times >> well, it is actually striking that 15.5%, the gain in the s&p 500 right now, that is where it will settle out, without dividends, but what is striking about that is if you go back four years, four plus years, since the 2016 election, it has be

i'm david faber with morgan brennan and mike santoli carl and jim have the morning off. let's look at futures as we get ready. we got to more trading days of the year, right? there it is. wi we look like a slightly higher open at this point after another gain yesterday for these record-setting markets let's get to our road map this morning. and it begins with some news out late yesterday, involving, well, potential changes or at least activist campaign at intel third point calling the chipmaker to explore strategic alternatives >> then, green light for astrazeneca and oxford's covid-19 vaccine in the uk the country deals with another surge of cases and new variant of the coronavirus >> and finally, futures pointing to a higher open this morning as david mentioned, the dow, the s&p and nasdaq closed lower for the first time in several sessions yesterday >> and let's start there, of course, with those markets as mike just mentioned, futures indicating stocks near record highs in today's session as we do count down the end of 2020. thankfully i think most people would say,

we'll see you again soon great to have you on make sure -- thank you, santoli. ballroom, llom, people say, that's what you like see you, becky join us tomorrow "squawk on the street" is next >>> good tuesday morning, welcome to "squawk on the street." i'm carl quintanilla with jim cramer and david faber futures are steady coming off monday's big upside reversal congress passes that long awaited covid relief package, sends it to the white house. we are watchinguk sentiment as the eu recommends all member nations discourage nonessential travel to and from the uk. road map begins with apple this morning. and its reported plans for a self-driving car by the year 2024 >> then new strain, no problem what the vaccinemakers are saying about the latest variants of covid in the uk and later, jedi blue, an explanation of facebook and google's secret pacts, interesting stuff in those lawsuits against those two companies, carl. >> all right a lot to kick around this morning, guys. we're going to start, i guess, broadly with the markets tom lee this morning saying the kinds o

let's bring in mike santoli. a few culprits this morning, one worries about this uk variant.ad of an ill liquid week after a good year >> the context matters a lot the lead up into this monday was a market that was kind of relentlessly heading towards its highs. we were talking about how people were reaching for riskier stuff. this backdrop where just small little disappointments threat market vulnerable for a little gut check. that's mostly what's going on. right now the action is kind of sequestering the pain in travel related areas. small cap energy down. even the small caps have been resilient. offsetting a lot what you said is the fact that the banks for their own reasons have a relief good bit in there and lifting the broader tape and we're in this situation where i still do think the market is priced in a lot of good. excess of certainty about this acceleration early part of next year and the economy and the vaccines was this light switch that got flipped and we're all set. that gets challenged over time but right now it doesn't seem like today's action is necessarily

. >> beck, thanks, cnbc senior markets commentator, mike santoli is here to explain a little bit more're seeing mike i saw the stimulus deal getting done in with the reasons to sell off, as a sell on the news, you know, buy on the rumor, sell on the news, and then you got the poster child for every bit of fluff or froth tesla going into the s&p, that's a good reason, and then you got the virus, of course do we need to explain a less than 2% drop in the dow? i mean, do we got to do, you know, bend ourself into contortions, trying to explain such a small move. >> i'm going to get the stretch to try and explain it, because of the context, i think that does matter. no doubt about it, the future selloff did trigger near the european open. it seems as if those restrictions in europe are a little bit of an immediate catalyst if you look at the s&p etf, the premarket action what we're doing is coming from a record high, and sort of skimming away the december up side back in early november, we traded at this level november 9th, a lot of fund inflows into the epidemquity mutual funds a k accele

cnbc's market commentator mike santoli joins us >> it's not so much about winners and losers, differentitself, it slowed down a little bit. there's been a couple of failed minor pull back attempts haven't come to anything if you take it from september 2nd, 3.5% above. look at the s&p above the russell 1,000. this is the largest 1,000 stocks in the u.s the s&p 500 is the overwhelming majority of the market value of the russell 2000 you see how they usually go very much in sync in the last several weeks, why might that be? in the russell 2000, not in the s&p, very, very large stocks we know tesla is about to go in the s&p. many other very large names at or around $100 billion that are very hot performers are not in the s&p. here's just a handful of them. tesla, 600 billion or so in market cap square, zoom, snowflake. snowflake brand new. around $100 billion. just for scale there are 50 stocks in the s&p 500 smaller than 10 billion. you have 10% and a bunch of market cap outside of it a little bit of a conundrum. it's very dynamic because basically people are grabbing at the hot growth sto