tom lee was on with us the other day. and was pretty optimistic to say the least on where he thinks we can go between now and the end of the year. talking about a gain of some 10% in the s&p now after yesterday, we only need 8 here's what he said and i want to react on the other side tom lee from last week. >> we know positions, risk on positioning is now net short for hedge funds. think it's easily a recipe for a big bounce. >> but 10% >> yes >> that's a very big bounce. >> think it would be pretty typical. given the internal damage we saw last week. we put out a note saying when you look at the percentage of stocks, on the 50-day and 200-day both on the s&p and russell. it's happened only in nine clusters, since 1990 the median return in three months is 13%. >> that was only two days ago, it feels like last week. but you get the point. can it be that good? >> that sure -- that's a big number it's a big number. and i don't know that it can be quite that good. i would hope so. one thing for sure is we've watched volatilit

by the way, tom lee's forecast that's a year end. so it's like a month plus.l let's bring in bart smith. we call him wall street's crypto king great to have you with us. >> hello. >> is this capitulation? have we found a bottom are we close to a bottom where are we in the selloff. >> there are a couple of factors leading to this this number one the on ramp is difficult. if you are a global institution it's still difficult for you to buy bitcoin the pennsylvania way you might want to. a wealthy individual from the gi generation is not taking a high resolution picture of the driver's license and send it to the website and send money there. they want to invest at fidelity, baepg of america that leads to the second problem without the new capital on ramp liquidity has low. wove scene a stable prize all through the summer it was at 6,000 give or take but volatility got right the end of october. the ten-day realized was like nine. >> no where. >> what happens is in that environment when you have the contentious fork and the the two constituencies conduct might be de

day here to debate and trade the biggest stories of the day are joe terranova, stephanie link, and tom lee is here, head of research we're covering the day's big story, of course, your money, your vote. nice bounce for tech as well what happens next? can stocks get back to new highs or make a nice run jon najarian that question to you. >> yes is my answer. i think there will be a lot of things cleared up not only because of the election, scott, but because of some of the issues going into the g20 end of the month, well, just over a week from now. i think there will not be a settlement with china but could be a positive movement just the mention of that get the markets moving >> tom lee, your year end target is 3,025 on the s&p. as you sit here today are you standing firm on that? >> yes i think we have a good shot at making that. there was so much derisking on the things you are talking about plus we're sort of taking that risk off the table with the midterms risk on positioning is short for hedge funds. i think it's easily a recipe >> but 10% that's a very big bounce >> i think it would b

andrew is at the deal conference we're actually going to check with him later this hour tom lee, from first hour. he's moved closer to the center. it was an audition fine colors, fine colors >>> futures right now responding, maybe, to tom's big call really bullish you've been -- and you got a little less bullish, i've got to hand it to you, a couple months ago. >> yeah, i guess there's degrees of bullishness, right? >> yes >> and on a scale of 1 to 10, where are you two months ago, a 6 and now you're an 8 or 9 >> yeah, i would say right now, we should almost be like spinal tap. past 10, 11. >> 11. >> yeah, on a scale of 1 to 10 >> yeah, it's asymmetric now the market panicked. and you always want to buy panic. and you want to buy when everyone's scared. i still think people who backed away from the idea at 3,000 before the end of the year, i think it's very possible now to break 3,000. >>> treasury yields, we'll take a quick look at those as well. where do you want those to register the waters safe againy could we go to 3.25 or 3.30, or got to put it back in the soup >> yeah, 3.25 app

tom lee will be coming on. end of the year estimate from 25,000 to 15,000, obviously bitcoin has a long way to go from here we'll talk to him about why he thinks it will push higher before the end of the year, especially when you look at the break-even point which is about $7,000 check this out, bitcoin at $4,400 we'll see if tom wants to lower that price target even lower all that coming up in a few minutes. >> this time last year bitcoin was at 9,000, on its way to 20,000, now below 4,500. >> last holiday season it was 20,000, should i be buying in here >> that's why it's a currency. currencies don't do that, unless you're in argentina or venezuela or zimbabwe where they have this inflation. currencies don't act like that it's acting more like what it is, a commodity. a crypto commodity looking forward to it. >>> up next, major market challenges ahead one market pro says next year could be packed with more big risks to your money. we'll make both those cases. >>> and random but interesting last night's monday

tom lee is here.ll of a bitcoin recovery >> you said -- >> we'll tk ouwhhei alabt etr should buy or not when we come back obvious. sometimes, they just drop in. cme group can help you navigate risks and capture opportunities. we enable you to reach global markets and drive forward with broader possibilities. cme group - how the world advances. ♪ xfinity mobile is a designed to save you money. even when you've got serious binging to do. wherever your phone takes you, your wireless bill is about to cost a whole lot less. use less data with a network that automatically connects you to the most wifi hotspots in millions of places and the best 4g lte everywhere else. saving you hundreds of dollars a year. and ask how you get xfinity mobile included with your internet. plus, get $200 back when you when you buy a new smartphone. xfinity mobile. it's simple. easy. awesome. click, call or visit a store today. ♪ >>> welcome back to "squawk box. the futures right now are, as you can see, down 156. a lot of red d

tom lee, thank you for joining me again. we have some breaking auto news.ccording to the financial times, scone is working on a tie off between nissan in the last little while. we know that having been arrested, we haven't heard anything from the team and we are anticipating some of those results to come from a board meeting this evening and from the nissan board meeting on thursday, thanksgiving day. as ofthursday, thanksgiving day. as of now the wall street journal is reporting most recently that he is working on the buyout. they had been in an alliance together anyway. now for your latest bloomberg business flash with the latest stories in the news right now. third quarter comparable sales growth that had missed estimates, targeting both margins coming in weaker than expected. meanwhile, online sales dropped 49%. housing starts picked up last month, the market stabilizing up 1.5% with the any will at more than 1.2 million with other multifamily and single-family housing selling for the second month. that is related -- related bloomberg business flash up

stuart: thank you very much, tom lee.s deal with that the company's chief says google is overhauling the policy on sexual misconduct. this comes a week after employees staged a walkout around the world on that issue. come on in vivek wadhwa. carney and harvard distinguished fellow. vivek you approve the google's attempt to shift the corporate culture. is it a success? >> stuart, they have been trying hard past few years. it is not a case of pretending to do it. google is dead serious. i know the company. i worked with them on this. i know they have a serious problem there. they have some rogues who have been abusing the system but they're cleaning up house. the announcement they made yesterday about changing policies, allowing, employees to sue and so on, the company is dead serious. i have confidence that google will improve the culture next few years or so it will take time. but they will get there. stuart: are there women who want to work in technology and who can qualify for the jobs available in technology? >> there

and tom lee will be our guest host from 7:00 to 9:00 we'll talk to him not just about bitcoin but whating here with the end of october. is this a new start for the markets? will it go up from here? we'll find out what he thinks. and stacy cunningham will join us from the new york stock exchan exchange we'll talk to her about the volatility in the markets. maybe get into the debate about rates. the s.e.c. saying some of these exchanges can't raise the rates they're charging for some data feeds. got into a discussion the other day with not only an s.e.c. official about this but also the head of the nasdaq a lot coming up in just a few minutes. wilf, i'll see you back here soon, i hope >> is stacy coming to the nasdaq >> no, she's in washington she's there for a conference she will come to us via remote from washington, d.c >> there we go looking forward to "squawk box" at the top of the hour. >>> when we come back, global opportunities on deck. where in the world should you be putting your money if you're looking for opportunities outside of the u.s.? we will also check in on october's w

that mike lee tom cotton, senators who you saw. >> dana: let me read something for the audience. is mike lee saying -- he's a supporter. saying, nothing in the first step act gives inmates early release. it only incentivizes participation. then tom cotton, who is the senator from arkansas, he di disagreece. no early release? look at the text. so, yes, i think there are some questions on the merits but i agree with you that there's some broad agreement that something needs to be done. in fact, tony, in this bill thrrbg are some provisions there that would remove the restriction or the restraints on women prisoners who are giving birth. that just seems like something that shouldn't be hard to figure out. >> well, it might be because when you take a look at this conversation between tom cotton and mike lee, we're talking about what does the language actually mean in this application? if that does take longer, we should be fine with it. but we should also be fine with the idea that we should taking a look at what it is that we do with preuzers in and ask ourselves does it provide the

. >>> we want to thank our guest host today, tom lee. thank you very much. that does it for us today. make sure you join us tomorrow. right now it is time for "squawk on the street." ♪ >>> good thursday morning, welcome to "squawk on the street." november begins with the bulls aiming for a third gain in a row. dow futures up. claims, productivity, auto sales and apple starbucks earnings tonight. we did get the best back-to-back numbers on productivity in about three years. new month, new market momentum. stock set for another positive open. >> leading the rally stronger than expected earnings from cigna and dow dupont. >> inflation watch. clorox, coke, kellogg, apple among many hiking prices. >>> stocks are looking to begin november on an upbeat note following the volatile october. for october the dow saw a five percent decline. nasdaq losing nine percent and the russell down almost 11%. as for the last minute rally of the month, then there was the last minute selloff in the last few minutes. >> russell is where a lot of the rot is. holy cow. it is so obviou

. >> supervisor safai: before we call tom and lee up -- thank you, i was going to recognize them. i appreciate that. i just want to be clear about one of the reasons why we're doing is, because no permits have been issued, is the thinking behind it -- and i know we've had some conversations, but the thinking behind it is -- and i just want to get it on the record more clearly. if we're truly doing a socioeconomic program that's giving access to people and giving them opportunity in this equity program, the idea is if you have wealth, if you've already created wealth for yourself, if you're already financially stable, then the idea's why are we -- why are we allowing you into this program? because it's not stopping anyone accessing other facets of the cannabis industry. we're going to go through the equity program, and we're going to review it at some point. but i think the concern -- and i heard from those in the industry as well as those that fall, i guess, under the equity category, they're saying if this is really giving someone an opportunity to build wealth or get a foothold

. >> digital world you and tom lee, 20,000, $1 million. >> might be worth $1 million in bitcoin in -- not in your lifetime. >> >> i'm glad they locked me out. >> you guys have been fortunate enough to have warren buffet on the air, charlie monger, jamie dimon. they've all warned people this is dangerous stuff. >> i think it's hard -- you're coming for the valuation based on what? >> i have -- i'd defer you to sorkin on this i'm just glass you weren't there. >> think wanted me to wire money. my debit card is not good enough for snem. >> because the debit card -- credit card companies don't allow you to buy bitcoin. >> jodie -- >> they protected me doug cohen >>> coming up when we return, tesla's ceo elon musk out with a new warning about the dangers of ai he's been talking a lot about this over the past couple of years. we're going to talk to mike allen from axios about his interview with him. >> do we worry about what names somebody calls somebody else rather than whether a.i. will destroy things >> that's ridiculous. >> like children in a playground. >>> we'll talk with mike allen th

tom: bill lee with us this morning.he fourth safest location in the country, according to the fbi. here is taylor riggs. taylor: a hooded gunmen opened fire in a bar last night. police say he killed 12 people, including a sheriff's deputy responding to the attack. wounded. were the gunman was found dead inside. the shooting took place in thousand oaks, 40 miles from downtown los angeles. hundreds of young people were there for college night. a longtime critic of the russian investigation now has the power to fire robert mueller. matt whitaker will supervise the robert mueller probe. replaces jeff sessions, who resigned at the president's request. the president criticized sessions for recusing himself from the mueller investigation. democrats in the house will use the majority to seek deals on infrastructure spending, and prescription drug pricing. nancy says there will be no backing down to the white house. the democrats will have to come up with policy goals that liberals and moderates can support. opec considering ano

tom wolf. tennessee, lee. massachusetts, baker. illinois, too early to call, though pritskerr is in the lead, alabama, ivy is in the lead, rhode island, too early to call, romando is in the lead. and in georgia, too early to call, another widely watched race tonight where the numbers, the early has been all over the map. >> you mentioned the illinois race. that is the governor's race that democrats most hope to pick up. they have their strongest, i think, confidence in terms of flipping a governor's race. as bad as the senate map is for the democratic party, with all of these democratic senators defending turf in places trump won, as bad as the senate map is for democrats, it is that good for them in terms of the governor's races, so that illinois race is first among a lot that the democrats are hoping to flip. those governors -- >> and really, really expensive. >> really expensive. everything in illinois is expensive. those governor's races will be kwas nating to watch. democrats haven't been shy about having high expectations. >>

lee... >> daniels: tom, the very last thing i want in the world is to be your lawyer right now.'t be going in with a winning hand. the crow sth, all to makes about sure he knew as much or more about the subject than the critics. >> daniels: so, all these people who love this book, all these people who loved gregory peck, delete, delete, delete, delete, delete, delete. i'm originating the role, as far as i'm concerned. there is no movie. there's a book that we're basing it on, and part of our job is to say, "welcome. put the book down. put the movie away. we're going to do the same thing. you're going to recognize it. but we're going to take you on a ride. we're going to take you over here. you think we're supposed to go over here. well, we're going over here. we want to confuse you early. okay? you with us now? good. keep up." unpleasant things are going to be said to me, and i'm afraid they're likely to be said to you, too. >> kroft: and that's exactly what they've done. the structure has changed out of practical necessity. the children's roles of scout, jem and dill are all pl

suggestive stories continued to appear in the national press some noting that hart and his wife lee had separated twice. tomer of the miami herald objected to the sketchy reporting in a column published in 1987. >> my column was essentially saying this is not good journalism. this is troublesome. when we are focusing so much of our attention on what at this point is an unsubstantiated claim. >> on the same day the column appeared, he got a call in his office. >> the phone rang. i picked it up. and it was a woman on the other end. didn't identify herself. she said did you write that column in the paper this morning. about gary hart. and i said yes, i did. and she essentially said, well, you're an idiot. that gary hart is having an affair with one of my best friends. and she also told me that senator hart had gone off on a boat trip to biminy with her friend. >> the biminy was an overnighter on a yacht called monkey business. >> i was beginning to think that well, there are some things here that perhaps i can actually trace. >> he pushed the caller for more tangible information. >> i said why should i trust a

lee on social media. robert downey jr. shared this photo on instagram writing "i owe it all to you. rest in peace, stan." tom holland shares this photo of him and lee writing in part how many millions of us are indebted to this guy. none more than so than me." >> it's nice to see. >>> just some stories next half hour, a new tribute to victims of last week's bar shooting in southern california. all new overnight, a brand new interview with the owner on what the future holds. but first -- >> i just wanted to say i loved them one last time. >> an emotional escape from the camp fire, the deadliest wildfire in state history. next hear the null new story as people who escaped continue to cope and firefighters continue to fight. >>> michelle obama headed out on her book tour ahead of controversy. what melania trump's people are saying. plus the big celebrity who will join mrs. obama on her first stop. you're watching "today in the bay." 6:27. right now at 6:30-- -markets opening -yesterday )s 600-point drop in the dow >>> right now at 6:30, waiting for the opening bell this morning, had a tough day in the markets y

former acting ice director tom homan and opinion editor, former chief of staff to mike lee, floyd matheson. boyd, i always think i'm going to get it wrong. confirmed by the official who would know. i will start with this. from the order signed today by john kelly, he says this. credible evidence and intelligence indicate migrant caravans originating from central america toward the southern border may prompt incidents of violence and disorder that could threaten us customs and border protection. we are being told statements like that are hyperbolic and they are overplaying the real threat at the border. >> i can guarantee you they are accurate. i was director of ice and i know the techniques they are using. i can tell you that we know there are 500 criminals in that population, a lot of people have been deported and if they reenter illegally, that is a felony. the president, secretary of homeland security have access to the most sophisticated intelligence in the world and i know you can count on the data being correct what is being reported. >> i want to point to a monmouth poll asking abou

director tom homan and former chief of staff to senator mike lee, boyd matheson. good to have you.i want to start with this, from the order signed today via white house chief of staff general john kelly, he says credible evidence in intelligence indicate that migrant caravans originating from central america and moving toward the seven border of the united states may prompt incidents of violence and disorder that could threaten u.s. customs and border patrol and other u.s. government personnel. tom, we are being told statement like that are hyperbolic in their really overplaying the real threat the border. >> though statements are 100% accurate, i can guarantee you that. i was the director of i can -- i know the law enforcement technis they are using. i won't show share them on open air but we know there's over 500 criminals in that one population. we know there's a lot of people that have been deported once before they're going to -- if they reenter illegally, it's a felony. there's a lot of intelligence. the president, secretary of homeland security have access to the most sophis

tom winter who was there at the courthouse this morning, legal analyst danny cevallos. we also have chuck rosenberg, an msnbc contributor, a former u.s. attorney, and kim way lee, a law professor at the university of baltimore. tom, i will start with you. you managed to sift through these documents you were there in the courtroom this morning. talk to me about the top lines here. it would seem to me that the biggest nugget of news is that michael cohen is clearly cooperating with the special counsel's office? >> that's exactly correct, craig. according to the court filings, we know that michael cohen has not only been talking with prosecutors in fonew york, we kw that before. that's how we got to a guilty plea back in august in his case brought by prosecutors in new york, now we know from today that he's cooperating with special counsel robert mueller's office. his plea agreement explicitly p says so, and they will be notifying the judge not only in the case that is brought today in new york with are respect to the senate select committee and also in the case of the campaign donations tied to payments made to women tie ed d to the presids office, and so muelle

greta brawner you mentioned tom cotton not in support of this bill. he had a twitter exchange with mike lee of utah. senator mike lee saying "nothing in the first act gives inmates early release. that incentivizes dissipation and recidivism reduction programs. the bureau of prisons retains all authority over who does and does not qualify for early release." tom cotton says "look at the bill. inmates get early release and many other sections including retroactive application of fair sentencing act, reduced punishments for trafficking fentanyl under 841b and retroactive expansion of good time served credits. what it does do is encouragement delegation." a reply "it helps them to qualify for prerelease custody." tom cotton "look at text. sheriff's call this dangerous. earned time credits for supervised release." if tom cotton doesn't support this bill, which is supported by major police unions like a fraternal order of police, the largest union for law enforcement in the country, if he is saying he is tougher on crime than the fraternal order of police or donald trump or the international asso

lee." robert downey jr., famous for all of his roles as iron man, wrote "i owe it all to you. rest in peace." >> and tomote "the father of marvel has made so many people so incredibly happy. what a life and what a thing to have achieved." >> talk about an icon. get the latest news anytime with the abc 7 news app with live video features. don't forget the personalized push alerts to get the news you want i i want him to go out with a bunch of winning, we want to let you know, the air quality here has been downgraded unhealthy. we will keep an eye on that. >> what's up, gips? i started playing football in second grade. i was very competitive. i just liked it. my goal was to go play division 1 football. i always told myself i would get a chance in the nfl and i had to work for it. you walk around with swagger, he wants to win. >> just keeping a secret weapon ready

stan lee, he provided young and old with adventure and comfort and confidence and inspiration, strength, friendship and joy, he exudes love and kindness, leaving in a double mark on so many lives. tomolland said this on twitter. how many millions of us are indebted to this guy? none more so than me. the father of marvel made so many people happy. what a life and what a thing to have achieved, rest in peace. an incredible achievement, some of the most top things, and featuring marvel characters and passed away at 95 years old. heather: all those franchises. going viral online. the lonely stranger. starting on the right foot, two strangers sharing breakfast at an indiana mcdonald's, picture of them going viral on social media, fellow customer snapping a picture posted to social media saying shout out to this guy, this elderly lady seems to be lonely, came up to him and asked if he could sit with him. without hesitation he said of course, my friend. he introduced himself, talked and laughed together like they were friends. they didn't know each other and couldn't be more different but today they shared a meal together and it touched our hearts, so many other people's hearts on social

tom and gloria steinem who has mentored both of us. i now am in a movie club with gloria. it is so fascinating way she chooses to see like the spike lee film in mamma mia, although i don't think she quite understood mamma mia. [inaudible] explaining why was so fabulous. she loved it. and the price of the ticket if you get to see that. i am so pleased to be in conversation. susan faludi has marked our lives since the 91 when she wrote backlash and stipulated our society was against dust. there is some people then who didn't believe you. >> well, they've come around. >> this morning i was on twitter, hoping to find susan faludi's posting mayor. she follows your people. she is not fair, but she's still friending because everyone was saying if you haven't read it, get it, read it. you are once again in the conversation about women and the way we're being treated. much of that has to do with what's going on in the supreme court, they asked for to add a new justice. and i know we are going to talk about that and i know you have questions about that. i want to start with another fantastic story you tell about your father and transitioning, d

tom cotton of arkansas says that the bad outweighs the good in the first set bill that allows violent criminals to get out early and he is demanding answers from mike leeting this "my colleague mike lee, senator merkley and i have a good base of this agreement on the first step act, by looking at the text, hopefully we can agree on the facts." you're to respond tonight, utah senator mike lee. good to have you with us this evening. your response to him? >> my response is that this is something that will make the american people safer. president donald trump has a strong track record of making the american people safe. and president donald trump is the leader of the republican party looking at this bill and understanding that we have to be smart in the way that we fight crime. in order to keep the american people safe, we have to make sure that our federal sentencing system or incarceration system is working correctly. the bill make some minor but very necessary tweaks to the federal criminal justice system, and that's why i wholeheartedly endorse it. >> martha: here are some specific elements, allowing credit for involvement in programs in prison. and i

tom cotton, republican from arkansas. so mcconnell has laid down the marker, show me you considered. >> neil: thanks. we're going to the president right now outlining the plans on this legislation. let's listen. >> mike leeins, fantastic people that worked so hard and we appreciate what you've done. really do. thank you very much. working together with my administration over the last two years, these members have reached a bipartisan agreement -- did i hear the word bipartisan? [laughter] [applause] >> did i hear that word? there you go. that's a nice word. bipartisan agreement on prison reform legislation known as the first step. that's what it is. it's a first step but very big first step. today i'm thrilled to announce my support for this bipartisan bill that will make our community safer and give former inmate as second chance at life after they have served their time. so important. i have to tell you, i was called when i announced and when we all announced together this news conference by some of the toughest, strongest law enforcement people, including politicians, by the way, that are so in favor of it. i was surprised by some like as an example, mike lee. rand paul and others. now it has tremendo

host: you mentioned tom cotton not in support of this bill. he had a twitter exchange with mike leeutah. senator mike lee saying "nothing in the first act gives inmates early release. that incentivizes dissipation and recidivism reduction programs. the bureau of prisons retains all authority over who does and does not qualify for early release." tom cotton says "look at the bill. andtes get early release many other sections including retroactive application of fair sentencing act, reduced punishments for trafficking 1b andyl under 84 retroactive expansion of good time served credits. is encouragement delegation." "it helps them to qualify for prerelease custody." tom cotton "look at text. sheriff's call this dangerous. earned time credits for supervised release." if tom cotton doesn't support this bill, which is supported by major police unions like a fraternal order of police, the largest union for law enforcement in the country, if he is saying he is tougher on crime than the fraternal order of police or donald trump or the international association of chiefs of police, but he is

lee miller. >> bill: dueling campaign rallies on the trail. president trump and former president obama offering dramatically different messages in the final countdown. you think? america's a-team josh holmes, mary anne marsh and tom bevan, publisher of real clear politics. nice to see you all. i want to start with trump/obama. maybe we should get an idea what you think happens tomorrow. >> in total? i think the structure of this election is difficult. typically a first mid-term after a decisive presidential election the party in power has a difficult time. this is probably no exception to that in terms of the overall political environment. the problem we have on the house side in terms of republicans is retirements. that's open seats are a challenge for them come tuesday. senate side the map looks different. a lot of red state america out there. they have the prospect of maybe picking up a seat or two. >> bill: make it quicker marianne. >> democrats i feel about taking over the house. i'm more bullish on the senate. if donnelly wins that's a good night in red states. >> sandra: try to make it quick. >> democrats are favored to win the house. unquestionably but, if things go republicans' way it could still be -- t

lee out of utah had a very interesting -- very vigorous exchange. you can call it a twitter battle if you will that national review covered. and tomconcerns are that, you know, when they label folk nonviolent offenders, it includes individuals, according to cotton, that actually committed acts of violence against police officers, including using violent weapons. there are a variety of concerns. what i say to senator cotton, to senator cruz, that have, you know, these are good men, principled men that have legitimate concerns. let mitch mcconnell bring it to the floor. let's have vigorous debate about it if cotton sees something wrong with the senate version, ask for some amendments. put some amendments on there but now is the time to get this done because god for bid the senate has to negotiate with the house. right now you have got a situation where if the senate passes something, you can have a reasonably conservative criminal justice reform bill. if the far left wing house comes in january, then you are talking about taking. pete: the far left wants open borders their mind set is totally different. >> exactly. pete: this comes