monthly gain since last february the s&p and nasdaq have risen seven of the last eight trading days if you were waiting for things to slow down, you are still waiting. triple digit gains for the dow already this morning overnight in asia there were gains this came after the strength yesterday with the dow up 200 points.

the s&p down 12. sdaq down nearly 40 points about a half percent or so of declines at the open following yesterday's selloff which saw all 11 sectors of the s&p lower. but again, we are still very nicely higher for january. by 7% or 8% or so so a small pullback relative to the gains we've seen to kick off the year >> the ten-year went above 2.7%. it's just come below that level, 2.684, the yield that we got on that at the moment asian equities sold off overnight. the nikkei off 1.4%. hong kong down 1%. up nearly 10% for the month of january. januar japan and shanghai up 2% and 4%. european trade is down, but only down 0.3%, 0.5%. that's accelerated a bit to the down side in line with u.s. futures over the course of the last half hour we did get gdp out of europe this morning, 2.6% year on year, as expected and the same as the last reading growth does continue to impress there. commodities for you, oil down nearly 1% yesterday. down nearly a percent or so again today. improved a bit down 0.6%. oil still

. >> i'm going to riff off of that i'm going to be a little bit controversial, the p/e's here are not low. but take a look at the e-tail brokers, e*trade, schwab. if rates are going up, these guys make a ton of money in that environment. that's my play >> i like where bk is going. clearly if it's a market where it's expensive, people are trading and these guys have had a massive, massive run i think the p/e's are excessive.

that is really weighing on some the s&p&p companies for 500. one of the worst sectors earlier, the worst sector for the s&p 500 today. julia: let's get a check on the first word news this afternoon with mark crumpton. mark: president says michael wolff's behind-the-scenes look at the white house is full of lies. tells nbc he can back everything up. >> i have recordings, notes, and i am certainly, absolutely, in every way, comfortable with everything i have reported in this book. fury:the book "fire and inside the trump white house" goes on sale today. it is already number one on amazon. the washington post is reporting that nsa director mike rogers is retiring this spring. admiral rodgers has informed the workforce of his decision expects president trump to nominate his successor. the senate will confirm his replace met this month. agencyironmental section is touting cleanups at several of the nation's most polluted signature of a compliment in the trumpet ministrations effort to reduce the number of superfund sites. but records show the work wa

the s&p 500 now down 3. it had been up 11. nasdaq had been up 43, and we've got now it's down 15. so pretty wild swings on this news that president trump inen an interview just said that everyone should be quiet about the dollar, don't talk about it. leave it alone, in essence. we need a stronger dollar, it's better for the country, right? you may not have heard of knee well, but you use sharpies, of course, crock pot, yankee candles, today it is struggling with investors, it's down right now nearly 22%. the very bottom of the s&p 500 after the consumer products giant said times are tough, and it's exploring options for several of its businesses. and struggling to boost sales, a move that could slash the customer base by half. >>> home depot employees, they can now invest in whatever they want, forget newell, the company giving as much as $1,000 to its hourly workers as part of the tax reform bump that the company itself has gotten, joining the ranks of 251 corporations saying that they're using the new tax benefits to invest i

that was what the p 51 brought. still a better one. >> i would agree with you. [applause] >> you made reference in the bio to your book, i've got a copy here and we are talking about the availability in our bookstore and captain jerry yellin is going to be available to autographed copies of the book. you in the book you share your experiences as a fighter pilot during world war ii. i think to start with and although the book ends with it, but walk us through that last mission. the last fighter pilot, the last mission in 1945. >> we, i landed on iwo jima on august 6, the data first atomic bomb was dropped at hiroshima and my prop was still spinning and they said should we drop one bomb? he said what are you thinking? i want some, i know it's hard to believe but it was true. and on august 9, 1945, the second bomb was dropped on nagasaki. we thought the war was over, we would not fly anymore missions. at that point i was flying with 15guys were killed . i never thought about them as being dead. i thought we see them one day and we were called to a briefing on august

the s&p 500, up six day sin a row. -- six days in a row. is treasury trades, guy, where it gets interesting, looking at 2.559%. so, that yield going above 2.5% and staying there. the question is, how much higher do we go if we are looking at the end of the bull market in treasuries? guy: it is probably 3% winning to be looking at as the line in the sand. the australian market was up five days in a row. the s&p, up six days in a row. the industrials are being sold overnight. europe had a good day yesterday, that is the bond market interesting. the japanese yen trading up by 0.6%, but it is the story surrounding the boj that is interesting. the yen is trading higher. the bloomberg dollar index down by 0.1%. let's show you what is happening elsewhere because i want to show you the bond market and the commodities trade. the japanese five trade yields higher. the japanese 10 year, yields higher. today is a deluge of supply in the middle of the curve. you've huge supply coming out of the u.s. you have got japan, germany and china, the nordic count

the s&p was down more than 1%. e nasdaq down just less than 1% 10 out of 11 sectors were lower yesterday. healthcare and energy were down around 2%. but month to date the returns are impressive in this final trading day of january the nasdaq standing up around 7% even despite those couple falls, and the dow is up this morning 74 points, the nasdaq up 20 points, and the s&p up 9 points in the premarket ten-year treasury note, still above 2.7. that crossing of the 2.7 happening with yields rising, something that has concerned some equity investors. yields about 2.7% still this morning. president trump striking an optimistic tone in his first state of the union address last night. >> this, in fact, is our new american moment. there has never been a better time to start living the american dream >> let's get to eamon javers with more on the president's big speech good morning to you. >> good morning. this has been an unorthodox presidency but a traditional state of the union address from the president, laying out some p

the, i talked in the bio about you flew p-40s, p-47s, p-51s. sair is the greatest fighter aircraft ever built. i've got a soft spot in my heart for the p-51. every time i see one flying, i am just absolutely in awe. you've got to tell us, what was it like flying p-51 mustang? >> we, we learned to fly on a 220 horsepower -- [inaudible] and then a 400 horsepower multi-vibrator and then a 600 horsepower at-6. each one of those airplanes you flew with an instructor. and then we got into a p-40 which was a fighter plane being used by general chenault in china against the chinese, and then we got the p-47 which we called the jug, hard airplane to fly. -- [inaudible] and then we got the finest airplane that ever was built, the p-51 mustang. and you you could fly that withr fingertips. the sound of it, the feeling of instant response with anything that you wanted to do. that was what the p-51 was about. still the best airplane. [laughter] >> i would agree with you. [applause] i made reference in the bio to your book. i've got a copy of it here. we're go

ralph mentioned energy halliburton is one of the best performers in the s&p 500 since the s&p 2,600 markwe talk about the diversification of leadership, some people may feel better that other stocks besides technology are doing better although technology still remains far and away the biggest part of the market so as goes tech, so goes the market, right? >> it's true >> absolutely right. >> the point it's not just about tech ralph f, go ahead, then? where is this positioning us how would you be investing in this market? >> well, just some of the names that we just heard, like halliburton, that still has a lot more to go the name that i mentioned like exxonmobil, big blue chip dow stock, a lot more upside potential. i would start making positions in those and the banks are not ahead of themselves yet bank of america, heck, buy it, and put it away. warren buffett said put it away for five years he's absolutely right. come on, guys, we got a lot more to go. my near-term target for the dow is 25,900. i think we're going to do that very easily. my secondary target for the year is 28,700. i th

finally on the s&p 500, two observations for the week. number one, we gap up notably every single day that tells me that retail buyers are putting in orders, market on close orders at the close that are being executed at the open every day, a nice pop up, that was the biggest gain on the day. secondly, you notice today, the numbers for the nonfarm payrolls, markets still up, a lot of relief about the fact it wasn't too hot it was a good number, but below expectations and everyone is now concerned about the economy overheating a little bit and the fed getting too aggressive that could kill the rally. little bit below par, it was absolutely perfect as far as the market was concerned guys, back to you. >> yeah, like we like to say, gold'd goldilocks. thanks, bob. let's ask kevin o'leary from o shares etfs and chad morganlander from washington crossing advisers. what did you think of this week? did you see all the stats that bob ran through? everything working this week with the exception of the interest-sensitive groups. i mean, it's really

the s&p added 18 to 2,786. nasdaq up almost 50 to 7,261 the russell up 5, 1,591.'t know what superlative to pick. >> relentless is the one for this rally in terms of exactly how persistent it's been it's kind of bypassed all these really easy opportunities to sort of say, okay, this is enough for now really since august, that's really when the ascent steepened, in mid-august we were up, like, 15%. >> you know i'm not a big vote -- >> you know i'm not. >> i'm not buying equities right now. >> european equities. >> one of the promising aspects of the last few weeks has been strength in energy, strength in the financials not the areas that -- >> how about the transports? >> yeah, but i'm saying it's not been the big tech names, which -- >> right. >> -- they've been fine. >> exactly they're not the only thing in town. >> they carried the bull market for the first year since trump was put into office. >> don't overlook -- >> now it's oils >> the weakness in the dollar you guys were talking about earlier. >> totally agree. >> financial conditions are loose. that's a big

the s&p. st slightly for the nasdaq we got to the 2.6 level in terms of yields. just pulled back the last couple of days from that level, but rising again today 2.63 the yield on the ten-year holding nicely above the 2.6% level. dollar board for you, we lost about 0.2% yesterday the dollar is sliding significantly today. steven mnuchin did say on the ground in davos that a weak dollar is good for u.s. exports. it's partly that, but really just a continuation of the trend of a weak dollar we've seen recently in europe, we've got about a third of a percent move higher for the euro we had some composite pmi numbers that came out, 58.6 ahead of forecasts of 57.9 the highest level in 139 months. it was led higher by services this time as opposed by manufacturing. so the euro continues its rally of late. the yen, as you can see, noticeably higher, 0.6%. the pound also higher. so that weak dollar applies also to the aussie dollar, the swiss franc and the canadian dollar. a weak dollar, the pound close

are the s&p since august of last year. points. some killer adp data coming in ahead of the friday jobs report having an impact in the bond market. take a look here. you are seeing it flatten as you see more selling coming in at this front end of the curve. a two-year as wella two-year as. definitely a shift in the market in the adp numbers. the other thing we want to highlight is the treasury refunding announcement for february. here is what we know. the fed will offer a $15 billion in 30 year bonds, 20 4 billion in 10 year notes, and 26 billion in three-year notes. they lifted the auction size for all three. it is the first time they did it in quite a long time. key to the yields, what is priced in. david: is a big uptick. by about 12 points. >> the first quarter financing these, it is less than estimated. it in some finance way. how do they fund it. where does it land on the curve? where all the hawks when you need them? it is not clear how they will get the money for it. >> not at all. the u.s. treasuries will 3, 10, an

the major averages once again climbed to all-time highs as the s&p 500 sees the most record close inside a single month in more than 20 years. >> america is open for business. and we are competitive once again. >> in a high stakes speech, president trump tells heads of state and global business leaders that there's never been a better time to invest in the u.s. >>> and gaga overgrowth. as the global economy picks up steam, our market monitor has some great investment ideas for you. those stories and more tonight on "nightly business report" for friday, january 26th. >>> good evening, everyone. and welcome. what a way to end the week. it was a melt up into the closing bell, which drove stocks to all-time highs. the s&p 500 had its best day since march, lifted by continued

the dow and nasdaq up 0.7, 0.8 the s&p and dow up 2.5%. ten year treasury note, getting the yields right over the course of the week including on friday ending the week 2.47 where we sit at the moment. it was the short end of the curve that moves higher. we had the two year, 1.95% on friday's close the highest since 2008 more flattening of the curve last week. >> as we look at asia, the global rally continues with stocks closing higher. keep in mind asia's earning season kicks off this week with samsung electronics and others getting ready to report. china's inflation data is due on wednesday sob sure to look out for that early trade in europe gains there with the ftse 100 up about .03% german dax higher. that is interesting. german factory orders did come in weaker than expected. despite that number, stocks are in the green. >> look at commodities oil prices did get back up a sense of gains on friday still ended the week 1.5% higher stock prices, four year as well, had a percent last week. 13.18. >> as for currencies, the dollar actually s

the s&p and the nasdaq were slightly higher. the nasdaq led the charge, up 0.3% gains were slight but they were broad, 9 out of 11 s&p sectors were higher. utilities were the best performing of them and that highlights the boring fle ing n the outperformance ten-year treasury note for you, yields rose yesterday as they were towards the end of last week we have crossed 2.5% the elusive barrier out of the 2.4s 2.5 bang-on this morning the shorter end of the curve has been rising fast yields up which supported the dollar but the shorter end leading the charge higher. >>> in asia, mostly positive session overnight. japanese stocks closing at a 26-year high they're closed for a long weekend but opened in positive territory. some news out of the bank of japan, trimming its bond buying program. we did not see as much movement on the stock market on this news, but in the currency market south korea the loser there, closing down 0.2%. we should point out samsung, the big mover today. it did report earnings which came in weaker than expec

as good as any but if you look at the -- this is the second longest time that the s&p has been above the 200-day moving average, as far as daily talent. people are trying to lock in profits, they're nervous they want to have realized gains. >> so yields clearly one factor yesterday some people talking about. the dollar also will a strong day. it wasn't markedly strong. up 0.3%. is that something you are going to look at, if we see yields continue to pick up and it drags

the dow is poised to open up 151 points the s&p 500 up 11 points the nasdaq up 30 points.his after a roller coaster day for u.s. stocks yesterday with the dow up 283 points, crossing that 26,000 mark before falling 100 points and ending the day lower by 10 points similar story for the s&p. ultimately slipping below that and also ended the day down 10 points turning to bitcoin, cryptocurrencies have been under pressure over the last 24 hours. if you look, it's red arrows for those bitcoin contracts today as well after bitcoin fell below the $10,000 level yesterday on coin base. the cboe futures contracts for bitcoin expire today, the first ones >>> the clock is ticking the countdown to shutdown in congress lawmakers have until midnight friday to pass a spending bill and avoid a government shutdown. let's get to tracie potts live in washington with all of the details of what's to come over the next two days, 18 hours, 34 minutes, 53 seconds. >> those details that we know. because it's not even clear that lawmakers can come up with something to vote on before that friday dead

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let's look at a start to the year which has been the best start to the s&p since 2003. the first nine trading days of the year up 4.2% on friday the dow was up 0.9 the other two indices up 0.7%. week to date about 1.5% to 2% of gains. this morning, as you can see, resoundingly positive start in the premarket. dow up 271 points. the s&p up just 14 the nasdaq up 38 very much the dow surging higher this morning ten-year treasury note for you which has been in focus, last week yields rose in lieu of international yields rising at the start of the week, but then gave up some of that gain towards the back half of last week we're at 2.53% we got very close to 2.6 early part of last week. look at the mood in asia the nikkei at a fresh 27-year high, up 1% in today's trade hang seng closing actually at a record high, 31,904. stocks there up 1.8% the shanghai composite up 0.8% south korea seeing gains of a similar amount the key economic data in asia will be china's gdp print on thursday the dax up 0.7%. interestingly enough, european stocks yesterday moved lower on the back of the

the s&p is flat. the market has slowed down today.t a bad thing it's been offsetting action after the earnings that's fine. bigger picture we have stocks stretched up here, the dollar is stretched to the low side. oil and bond yields pretty much at the upper end of their range for a long time. i'm not saying this has to break apart, but it shows you a little edginess about how far these trends can go. >> and if they've gone too far, maybe a self-correction of some kind. >> a little retrace of some kind. >> stephanie, what do you think? >> well, you know, when we were up so much early on today, underneath the surface it was so much different because there was a lot of anxiety about earnings and the reaction to earnings >> even caterpillar. >> look, caterpillar was fine, texas instruments was fine the reaction is -- the news. everyone saw the news so that was a little uneasiness. >> why is that was there anything -- was it just -- were expectations too high was it just reflecting the market backdrop? >> all of them are up huge all of th

we're kicking off with the broader s&p 500. >> we're only 1.5% down. s talk about the market first and then talk about dip buying as a concept. all i have here is a four-year chart of the market and the line draws itself i didn't manipulate it or fit it we've responded to this line quite precisely one, two, three times. were we simply to sell off to the line, the trend line that's been in effect since the lows, you would be looking at something in the order of about a 6% selloff that's nothing it would be another 5% from here we've had some 216 5% selloffs since 1929 this kind of thing is a garden variety thing. >> if we sold off more than that and broke the line, that would be worrying? >> the path lower starts with something small. i think there will be a line in the sand there. >> let's move on to a couple stocks you say we could be buying off these lows. >> if i were to just clear this and we take a look, there's two in principle prototypical dips to buy one would be a stock in an up-trend if you have an up-trend in principle, a dip to trend is one

the combination of those holding back the s&p 500. the biggest index point movers today, we have general electric on the downside. $6.2 billion write-down related to its long-term insurance business. it hasn't written any new policies in that business since 2006. this is a legacy holdover still creating issues. otherwise, we have merck trading higher on early results from its showing an medicine extended survival when used in combination with chemotherapy. amazon rising after it got an analyst price target of $1600. record.ares at a unitedhealth group coming up with its earnings, boosting its forecast for 2018 with a lower tax rate. those shares up 2% as well. the laggards, a combination of energy and materials here. mosaic lower. there's been bearish commentary -- credit suisse coming out saying there's too much positive sentiment on nitrogen. just big and southwestern downgraded to underperform from neutral -- chesapeake and southwestern downgraded to underperform from neutral. vonnie: thank you for that. we want to bring you more on

that sector up 4% in the s&p ten-year treasury note for youful yieyou. started the week in the low 2.4s, ending at 2.456. >> the 1,000-point run we've seen in the dow is the fastest in history look at asian equities, japan seeing its biggest one-day gain in over a year you can see here on friday closing higher by nearly 1%. softer gains in hoping congress and china, but still stocks there moving to the upside the kospi up better than 1% on the day. in europe, the ftse 100 trading at another record high surpassing 7,700 up 0.3%. >> on the eurozone point, cpi inflation 1.4% year-on-year. the consensus was 1.4. the prior reading was 1.5% i bring this up for people who always say we must be ready for a rate hike, the ecb has a single mandate, it's inflation, the target is 2% we're some way off it. if the last month was 1.5 and now 1.4, we're moving away from getting close to that target inflation is the key thing to watch. >>> oil prices this morning giving back some of the strong gains. a full percent now we have softened over the last half hour or so for t

the s&p up just less than 1% let's look at in terms of where we're going next coming up is the bond marketope bond market next ten-year treasury note coming up a yield of 2.55% this morning. 2.6%, we have crossed over that important milestone on the ten-year treasury note amazing to see the five-year is around 2.4 that level we took so long to get past on the ten-year we got data out of china fourth quarter gdp at 6.8% slightly above the 6.7% consensus. that leads the full 2017 growth rite at 6.9% retail sales were softer japan is lower the other markets are higher european trade, down about a half percent for the week as a whole. coming in to a mixed session we're up for germany and france. the ftse 100 slightly lower. currency boards. the dollar was higher yesterday, but only about 0.3%. today a bit of dollar weakness to talk about. the euro is higher, 0.2% not doing much against the pound. bitcoin for you, which has had a torrid couple of trading sessions, but is rallying today. it's up a couple percent above 11,000 let's talk markets with jane foley. the dollar confusing people so far

the s&p 500 gaining .4% for six consecutive sessions. nce 1959 in overbought territory. afterw is up .6% suffering slight losses in the previous sessions and the nasdaq rebounding from earlier losses in the day. looking ahead to the earnings season getting started. david: time for the headlines. fivefire official says people have been killed by mudslides in southern california. they swept multiple homes from their foundations and a powerful hit areas that had recently been damaged by wildfires. several sections of highway have also been shut down including more than 30 miles of the 101 freeway. an iranian lawmaker said security forces arrested about 3700 people during widespread protests and unrest over the past two weeks. that's a much higher number than authorities have previously released. the demonstrations were the iran since thed disputed 2009 presidential election. called for the overthrow of the government and at least 21 people were killed during that unrest. saysmin netanyahu israel has a long-standing policy to promote the tran

there was a big shift for the s&p and the u.s. economy.g to re-orientate themselves out of bonds come into u.s. equities. you also have this big, big shift in economic growth assumptions as we saw let's put -- last week with the global growth forecasts. betty: you mentioned the weaker dollar and how that is good for u.s. exports and also maybe buffeting the equity rally here. sees quite confusing to this dollar continued to weaken. do you expect that continues to happen? when does it become a headwind for investors? sean: that is a good question. i think the consensus is the beginning of 2017 was for a strong dollar world. we got the reverse. a very weak dollar world. i think it comes down to two things. one, the u.s. trade and fiscal positions are deteriorating, hich is no morally -- normally dollar sensitive. negative feedback on that weak dollar coming through. as i said, that should start to mean life gets more difficult for u.s. equities, because that import bill will start to hurt margins. at the moment, nobody wants to fight the tre

the s&p 500 is having its best start to a year since 1987. and not since 1964 has the s&p 500 set six consecutive records to begin a year. investor optimism is high. here are the happy and not at all fake numbers for the day. the dow advanced 102 points to 25,385. nasdaq added six. the s&p 500 was up four. now comes the moment of truth. quarterly profit results. and as bob pisani reports, expectations a. >> reporter: it's been an amazing start to the year. the s&p is up six days in a row, about 3%, its best start since 1987. earnin season is now upon us. prices and evaluations are at record highs. it's fair to say expectations are also very high. this past quarter has been very unusual. analysts have been even more optimistic than they usually are. they typically start optimistic and then lower earnings expectatio into the quarter. that didn't happen in the fourth quarter. with prices this high, investors are clearly hoping there will be bigger beats than usual and then likely punish numbers with disappointin numbers more than usual. guidance

the second day in a row for declines for the major indices. .8%.&p 500 down nasdaq deemed the best performer today, still down .6%. at 14.4is higher today, right now. this is bloomberg. ♪ vonnie: live from new york, i'm vonnie quinn. mark: live from london, i'm mark barton. vonnie: time for our latest bloomberg business flash. of the best-known companies in the united states will collaborate on health care for their employees. amazon, berkshire hathaway and j.p. morgan chase looking to reduce costs and improve employee satisfaction. they are creating an independent company focused on technology solutions that they say will be free from profit-making incentives and restraints. express scripts and cvs trading lower. the iphone x price is too high for the device to fuel the super cycle of sales. wall street sales estimates for the next two quarters are too high. that is your latest business flash for this hour. mark: take a look at where european equities are trading into the close. today,d dax lower falling for the fourth day in five. i will leave you

we have broken through a 100 and clement for the s&p 500 -- increment for the s&p 500, the fifth timee have gone through that level in the past year. 2400, 2500, 2600, hitting that in regular intervals as we see stocks hit record highs on a regular basis. technology is doing well and not just the fang stocks but the established legacy tech companies doing well. outperformsed to according to analysts, secular members that should enable share performance throughout this year while oracle getting an upgrade over morgan stanley, the endless their said the low stock valuation represents a tactical opportunity for old-fashioned earnings growth to drive the shares higher. rallying.micron another story we watched about the implications of the new tax law in the united states has to do with bill ackman and his holding in power jews, his pershing square holdings selling 2 million shares in howard hughes in part to allow more flexibility under the u.s. tax code. he will move his stake around. are tradinghares higher by 3.5% and howard use hauling by the same amount. allergan prepared --cut 1000

even though it seems silly, because things are indexed to the s&p. t you'll see programs selling that knocks the market down in 25,000 people will say, i have to sell because i have to sell very meaningful and rigorous >> for the time being, we're sitting just above 25k for the first time ever. bob pisani is on the floor >> three to one, advancing to declining stocks as we hit dow 25,000 and the sectors that advanced and got us there, still the ones that are advancing today semiconductors strong. banks did terrific we had a yields move up rather dramatically on the adp numbers this morning materials have been a winner all throughout the year. materials have been a laggard. they're down 10% in the last six weeks or so. no mean reversion there. nobody's buying utilities. if you look at etfs that are getting big moves. the robotics etf out there that's been strong the copper miners have been strong that's copx. banks are up, and theeem, emerging markets, multi-year high there and that's one of the big outperformers of last year that's continuing into 201

the u.s. market s. and p. five hundred are very healthy valuations are reasonable and i think the one fly in the ointment you know the one thing that could cause a problem is the bond market what you did this or in arresting opinion piece brian on markets and and you i love analogies and metaphors and you likened the bond markets to an old mafioso saying about a snake and waiting and you tell us more about that because i think our viewers might enjoy it. well you know you and i are roughly the same age part you know i graduated with a finance degree from from a small small school in ohio in one thousand nine hundred two when i was studying money in banking and economics volcker was pushing the short term rates up to twenty percent so you've got an entire generation of investors who know nothing but bullish bond markets and lower rates and you know that the whole metaphor the whole analogy about the snake lays coiled you know i think it's going to come from the bond market when there is a problem and you know pe

look, if somebody wants to make an argument that at 18 times the s&p 500 is rich, fine. go ahead, but know what nobody is selling here. there is no reason to sell here. kevin, you just made the point that the there's incremental buying from buyback. the retail investors really now just getting fully invested and getting fully involved, not fully invested there's just no reason to sell. >> i don't think we're necessarily even discussion or suggesting whether the appropriate questions now are should you sell. it is should you be fully invested and if you're not should you get fully >> in the absence of selling, this market isn't going to go down that's my point. it's going higher. the question is how much higher? bill miller on snooebs cnbc said you could have a meltup, in his words of 30% a meltup of 30%. >> sorry i'm not going to predict, but the market feels like it wants to go up so warren buffett mentioned interest rates and i think the most critical aspect to this bull market is interest rates have stayed low and i know they are up a little bit, but think about what's

the dow and s&p slightly higher. we had a selloff to the end of trade last week, last year as well and that meant that week to date we had slight declines in the u.s., but clearly still gains for the month, the quarter and the year consumer discretionary, the best sector for the quarter and tech the best sector for the year ten-year treasury, saw lower yields close to 2.5% on the ten-year but ended very close to 2.4 again, which is where we are now. 2.43%. >> let's look around the world starting in asia and see where equities ended up. you can see mostly higher for china. the hang seng higher by 2% shanghai up by 1.3%. the kospi higher by a half percent. better than expected data that we got out of china. that's helping a bit here. the nikkei was just slightly lower for that session that's despite what we heard out of north korea with some of the sabre rattling and the talk of it being a nuclear power from kim jong-un, though he did acknowledge he is open to dialogue with south korea. we'll see if that happens. so far

and the s&p 500 added 33. for the week, all of the indexes saw gains of more than 2%. >> the rising stock market was not lost on president trump when he addressed attendees at the world economic forum in davos switzerland. he talked about the economy, and growth, and in a widely anticipated and high stakes speech told investors and ceos across the globe that america is open for business. mishal caruso cabrera is in davos tonight. >> reporter: president trump is on a full-court press to convince executives from around the world to invest in the united states. about an interview with c pabz president trump reiterated how happy he is go the corporate tax cut, what it's doing for businesses and happy it's leading to bonuses for workers as a result. >> i think the tax plan has been better even than we thought. what did happen that nobody considered is that at&t started, but they immediately followed -- hundreds of companies are giving thousands and thousands of dollars to their workers. >> he repeated that message a

at the end of the day, s&p is up 5% year to date. not a bad number for january, right? or for the year >> yeah, i mean, so exactly. so that's not bad. i think volatility is going to return to up it's all about interest rates, particularly the ten year, and the s&p earnings yield if those -- if that spread continues to compress, you'll see rising volatility, something that investors look out for out there, but it's going to be a trickier year. let's face it, no one expected 20% from 2017 either >> it's always tricky. >> no one expects 20%, so the easiest thing to say is that we're going to be up single digits >> right, right. >> and usually, as you heard me say before, usually upsets most amount of people at any one given time the s&p 4% above, 7% above 100 day, and 100% of above the 200 day, those are worrisome with the technicals, but people have not seen a corporate tax rate in their lifetime at 21%. people are looking at this trying to use their brains that we looked at the market with for the past five, seven years the corporate tax rate at 21%, you cannot fathom wh

the s&p up 0.6 nasdaq up 0.8% we're looking at another good open the dow higher by 55 points. sdaq 13. s&p by 2 the nasdaq is already up 2.4% this week. it's only been a short week. tech very much kicking off the year in the same vain it performed for most of 2017 a look at european trade that's higher again today. we're looking at the ten-year. my apologies 2.47 the yield there >> all right speaking of markets overseas, look at asia a strong session overnight with the japanese nikkei gaining over 3% the best one-day performance over a year, in the past year. analysts are saying this is due to the stronger than expected u.s. auto sales number we got last night plus the rise in energy prices. look at what's happening in europe early trade there. the german dax up about 1% carmakers like volvo, bmw up 2%, 3% the ftse is at a record high even in italy we're seeing gains. the italian ftse up 1.3% fiat chrysler up 4%. also trading at a record high. >> oil prices are up around 2% yesterday. the cold weather supporting energy prices so far this week we're up again today, 0.4% close to

but if we don't hit down 1% for the s&p lower by 25 points. he wrongest stretch we've had without seeing a 1% tiny correction since 1966. this is moving on the wires, hedge fund giant renaissance technologies, one of the most successful of all-times, says there is a significant risk of a correction and that is preparing for possible market turbulence. this is the vix or the volatility index is jumping right now to the highest level in more than five months. we've got a few minutes left in the closing bell. what does the market move for tomorrow's opening bell? we have assembled traders back in action, and nat alliance global equities trader. matt cheslock, what action are you seeing on the trading floor with six minutes left to trade? >> not seeing the huge numbers expected. maybe on the sell side going into tonight. as charlie mentioned, maybe you are seeing traders take a shot going into the speech. let's get long, we have a discount, let's give this a shot. liz: phil flynn, we saw oil falling, there really isn't much of a safe haven at all o

jets carried out raids as ground forces shelled the area turkish forces are targeting positions of the y p g a mainly kurdish militia backed by washington the group controls the afrin region ankara sees it as the syrian arm of the kurdistan workers' party or p k k which it considers the terror group a the turkish military has been locked in a bloody conflict with the p k k for decades last weekend the us announced it would set up a thirty thousand strong border force in northern syria led by the y.p. gee that angered turkish president recha type anyone who accused washington of planning to form a terror army he reiterated his criticism after the first raids that the name of this organization is kurdistan workers' party and the name of the organization in syria is why p.g. the kurdistan workers' party is on the terror list so the us and the e.u. the organization it works with in syria is exactly the same. turkish prime minister banal yoder am said ground forces may be deployed across the border on sunday russia says it has withdrawn its troops from the region. afghan security forces have be

abigail was talking about the rsi on the s&p. stsi on the stoxx 600 under that overbought territory. we rose for the third week, the best run since october 13 last year. the euro hovering around that three-year high. that is the three-year high of a week ago. 1.2 243 is where we are. delegates in germany voting to enter negotiations on a common policy platform. this to have the final sale back coalition pact when it comes through so there could be further hurdles. if the euro gains, it will be the six consecutive weekly gain. it's the best run since 2014. a lot could depend on this week's ecb b meeting. there's a possibility that president mario draghi will see faster pace of inflation that will risk on. have a look at this chart. while germany stacks index, the dividends are up since march 2002 the inde0., the the index without total returns has not budged. the blue line has doubled during this. asset management says there is a good reason to prefer german stocks over american stocks. that is his reason. let's get to one of the e

but i think -- you know, some are talking about $150 on the s&p. i don't see that i mean i've been looking at how much the tax code is going to change it. i see 6 to $8. by the way, i think reported earnings, gaap earnings are going down because i think they have to record the hit you don't have a choice, from what i understand, you've got to take those hits on those foreign earnings this year which is really going to reduce those we could argue how important that is. and by the way, early in the program we talked about the cape arab ratio. i've been arguing that it's been given false signals in how high it is. but it's hard for me to see 10, 12, 15% increases. even if we get gdp up to 3%, you know, where are we squeezing 10% to 12% out >> if i told you, professor, okay, what if the dollar stays lower than people think, what if rates don't move much from here, what if you get a much bigger benefit from the tax plan on earnings than you're accounting for, you know, people say minimum ten bucks and then you have buy-backs on top of it. a plus b plus c

what's the s&p up so far, 6% >> almost 6%. >> the s&p f it compounded at this rate for the whole yearbe up 124%. >> totally normal. >> it's been a great year. i think what's interesting to me about the market is this question of where does it go from here? you've seen so much strength kind of across different sectors. >> doesn't leave a lot - >> you've got to move into like nosebleed territory. we talk less about where boeing was trading in terms of multiples. things that were historically good, solid stocks is that when they trade in the 20 times forward earnings you were nervous. now they're trading over 30 times and nobody's blinking. >> real quickly because you brought up a good point here bammel has a flow report showing the four-week inflows into equities, $58 billion is the largest on record. >> largest in absolute dollars you have the rising appetite by the public for high levels, that's accelerating the market to the upside. almost as important is the sense amongst everybody else that other people are buying in you have the psychology attached to, oh, why am i going to sell r

and two eastern conference division taking the metro p me o metropolitan. still scoring for the hat trick. and winning 7-4. in pacific and atlantic play with the winner taking home $1 million check. and johnny gu droe. despite the string wrapped around his legs and on the break away and richard raquel's goal. and 5-2 and burns and nine teammates split the $1 million prize. nfl pro bowl in orlando. walker had quite a day. titans have two touchdown passes. carr came in late. hands off to mccoy. afc down three. a buck 38 left in the game. car with a perfect pass for the game-winner. 115 yards for touchdown and pick, 24-23. golf fumbles and asc with 24-23 victory. each taking home the winner's check of $64,000. >>> santa cruz warriors invaded oracle it face the austin spurs. this is a chance for local warrior fans to check out future gold golden state stars. they feel like it is like to play in the big house. steph curry on hand. quinn cook went to duke an he can play. went to the reverse. quite a game. and he stops, great fake. oh, wow. drenked two of his game

the s&p 500 is the worst we have seen since march. a lot of it does have to do with what is happening in health care. disappointing earnings as well, this morning. we've got this agreement between amazon, jpmorgan and berkshire hathaway to provide health insurance for those company's employees -- those companies' employees. it is unclear what the details of this health care plan will look like, what it is putting serious fear into the health insurance industry, especially because amazon is involved. as we have seen over the past year or so, every time there is a whisper of amazon getting into a new business, whether it you are talking about groceries or some other business, we have seen stocks in that industry amazon is seen as such a dire competitive threat. cbs, we also have the various pharmacy companies that are falling in today's session. cbs, walgreens and rite aid are following -- are falling. take a look at the bloomberg, because we have seen health care as one of the leading groups in the s&p 500. tech is the purple line and

the dow is up 102 on the bell. 25,385 the s&p up six sorry, the s&p up three. the nasdaq up six. dow is outperformer by far the russell closed down a couple of points today. >>> it is time for a cnbc news update now with sue herera hi, again, sue. >> hello, again, kelly thanks so much here's what's happening at this hour, everyone the death toll has risen to six after a powerful storm triggered mudslides in southern california those mudslides unleashed a torrent of mud and debris. sweeping some homes right off their foundations. blocking roads and burying vehicles about 21,000 people are under mandatory evacuation orders. >>> toyota is expanding its recall of takata front passenger airbag inflaters it involves more than 600,000 additional vehicles in the u.s the automaker says affected vehicle owners will be notified by mail in early march. >>> during a break in his meeting with congressional leaders at the white house, president trump telling reporters he'd defeat oprah winfrey if they met in a 2020 presidential election. >> i'll beat her oprah would be a lot of fun. i know her