i'm sara eisen. >> i'm wilfred frost. it's our final show of 2016.eek we've been playing the top songs of the year, today we're playing some of our personal favorites. including our producers. this could have been mine. >> elton john didn't have any new hits this year. >> no, no andrew lloyd webber classics this year. tough picking for me. we did have one. >> let's check in on the global markets. after a few days of softness for stocks, looks like we're on firmer footing this morning. dow futures are up 34. s&p futures up five. nasdaq futures are up ten or 11. if we do get gains, may be an appropriate way to send off the s&p and dow and strong quarter and month. as for action in europe, some weakness to close out the session and year. german dax down 0.3%. france down 0.2 %. the ftse 100 holding near it's record close. down a third of a percent. italy and spain also a bit lower. as for asia overnight, the japanese nikkei market did not like that stronger yen that we saw on yesterday's session. it sold off fractionally. ended the year about flat. even

i'm sara eisen. >> i'm wilfred frost.ood morning to you from me as well. throwback thursday, throwing it back with a winter theme. we still have about a week to go until the official first day of winter. really? it's cold enough. we haven't got winter yet? >> welcome. >> good god. >> welcome to new york city. we saw a selloff yesterday post-fed for stocks. first triple digit decline for the dow since the election the worst day for stocks since october, even though they were down less than a percent. just a strong few weeks for the stock market. looks like things are back on a firmer note. dow futures up 47. s&p 500 futures down more than 4.5 -- up, excuse me. we saw the bond selloff resume and pick up on the two-year. also on the ten-year. 2.6. we're heading towards a close that would be the highest since back in september of 2014. two-year yield sharply higher, biggest reaction in the currency market where the dollar raced higher after not just the fed rate hike but the forecast for three hikes next year. >> the slightly

i'm sara eisen along with dominic chu in for wilfred frost for the rest of the week.lmost at 20,000. >> 26 points lower. >> a check on global markets this morning, another record high for the dow. s&p closing yesterday just a point away from its own record. dow futures, little changed to down points. s&p and nasdaq positive, just barely. little searching for direction here in the early action. ten-year treasury note yield. bond selloff continues pushing yields higher along with a strong dollar. that's the trump trade since the election. today we're backing off a little. 2.55 is the yield on the ten-year. you mentioned banco monte dei paschi and the fact it's halted for trading. let's see how that's playing out with the european markets. the dax in germany just about flat. the only green speck you can see on the board right. there the cac in france down by 0.25%. the ftse 100 just about flat as well. ftse mib in italy, down by a half percent. spain ibex off by 0.75%. in asia, a more positive picture. the hang seng up by a third of a percent. shanghai composite up by ov

for "nightly business report," wilfred frost, new york. >>> when it comes to predicting u.s. economic growth and other measures, the federal reserve has missed its mark. according to the "wall street journal," for five years now the fed has overestimated gdp growth, inflation, and the unemployment rate. and for five years in a row, the fed's forecast has been wrong. joshua zumbren is a national economics correspondent who wrote about this for "the wall street journal." josh, welcome. you had a very involved chart in today's paper. i'm not sure i understood it completely. but what i did understand was that the fed doesn't seem to be terribly accurate when it predicts what the rate of inflation will be or what employment or growth will be. why do you think this is? >> that's right. they've had a really tough time in recent years predicting what this economy would be like. when you look at what the mistakes have been, they've been consistently making the same mistake over and over. they've been consistently saying that growth is going to be stronger than it's actually come in at

. >> i'm wilfred frost.ecause it's thursday, it's throwback thursday, throwing it back with british rock greats, this one two of the greats in one song, david bowie and queen. >> being very nice to you today. >> i didn't even request this. they just delivered. >> let's check global markets. after another spectacular session on wall street yesterday, which lifted the dow almost 300 points. records all over the place were quiet this morning in terms of future activity. dow futures down about 9, s&p futures down 1. nasdaq futures up less than 1 point. ten-year treasury note yield early this morning, the story has been the selloff in bonds. money coming out of bonds and into stocks. we saw that again yesterday. we see yields even higher again this morning. very little in the way of economic data. here we are pushing up towards 240 again on the ten-year yield. it's been a dramatic move for stocks and for bonds. >> yeah. though i'd say on the bond and dollar front the post-election event has slightly turned around

i'm sara eisen. >> i'm wilfred frost.ery good morning to you. it is the last week of 2016. so we are playing the top songs from the year. >> this was this year? seems older. >> it does, indeed. but i trust our expert producer. >> dj sophia nails it every day. let's check in on the global markets. day after a big selloff on wall street. big relative to where we've been lately. worst day for the s&p since back in october. >> interesting because this time yesterday, i think you and i had a bet. >> we did futures were up double digits. we thought yesterday was the day that would hit 20,000. not so much. >> so -- >> so i owe you lunch. >> nice. >> arbitrary bet. i'm never going to say dow 20,000. >> we already said it about four times. >> about a thousand times over the last week. no dow 20,000. we have pulled further and further away from that. we saw a triple digit decline for the dow. you mentioned the second one since the election. rare to see big selloffs. dow futures are down 10 this morning. s&p futures flat. nasdaq fut

>> wilfred frost, thank you. larry blaser, mayflower adviser joins us. sean, if we hit 20,000, do you think it will be discounted because of the fact that there's not that much volume behind it? >> no, not at all. 20,000 is a symbolic number in a lot of ways. it certainly shows that people with this expectation about the economy is improving, credit quality is strong. i really think people are trying to put money to work here. it won't matter if there's little volume this week. >> you generally think, larry, a company's entrance to the dow is a curse of sorts. i'm thinking about the way the index has changed over the years in 2012, kraft replaced by united health in 2013, alcoa were replaced by goldman, nike and visa. do you think that adage still holds true? >> i think it does. six to 12 months ago, no one wanted to touch financials with a ten-foot pole. and how the world has changed. tis the season to believe. any other year it just might be a santa claus rally we're seeing but this year is different. if you're a believer, ronald reagan redux area and

i'm sara eisen. >> i'm wilfred frost.good morning frou me as well. >>> after another record finish for the dow s&p announced they couldn't make it. they were negative yesterday. things are green morning. dow futures are up 55 point. s&p futures are up five. nasdaq futures are up seven this after the 15th record close for the dow since election day. that index has been a strong performer. not as good as say the russell 2000. down a percent yesterday. been up double digits since the election. green in europe for early trade this morning as well. with italy actually leading the way up 1.4%. german dax superthree quarters of a percent. france up a tenth. ftse underperforming a little flattish. higher inflation numbers and the pound which creeps up a little bit against the u.s. dollar. for asia, pretty much green. we did get some numbers. better data from china on manufacturing and factory output. the shanghai close up to flattish. same with hong kong. nikkei finished by half a percent higher. >> worth noting how much europe h

i'm sara eisen. >> i'm wilfred frost. happy friday. >> happy friday.'s check the global markets. you mentioned a sixth week of gains for the dow. modest gains this week across the board. still the strength continues. dow futures are up a little more than 13 points. s&p up one. nasdaq searching for direction after another negative day on wall street. dow closed off the highs, at one point was 50 points away from the 20,000 level. early indications in europe right now, it's been a strong week for europe as well. a mixed picture again this morning. the german dax positive. ftse 100 in the uk also an out performer. italy down 0.2%. small moves to close out the week. a calm week, a week in which the federal reserve spooked the bond and currency market in terms of a more aggressive forecast. let's show you the action in asia. that's where we have been focused, post fed. hang high closing up 0.2%. the nikkei in japan has been a winner off the back of the weaker yen. up nine days in a row. hong kong closing lower, not as sharply as yesterday. >> as we said at

. >> i'm wilfred frost.ood morning to you from me as well. >> let's check the global markets after another solid day on wall street took the dow up not quite to 20,000. >> so close. >> above 19,900 for the first time. futures not doing a whole lot. the nasdaq yesterday stood out. technology finally caught up after weeks of underperformance with the nasdaq surging a percent. dow futures down 8. s&p futures up 1. nasdaq futures up 3. a lot going on today, including the fed decision. news conference from janet yellen, dot plot from the fed, economic forecasts as well. the ten-year treasury note yield is sitting at 2.44. we're sort of within the range, towards the higher end of the range of where we have been. bonds look like a sell. the stock market continues to be a buy. >> the dow 100 away from 20,000. it is slightly down at the open. >>> the bank of japan's tanken survey showing an uptick in japan's biggest manufacturers, in line with expectations. not moving the yen at all. the dollar hit a ten-month high a

i'm wilfred frost along with courtney reagan in for sara.ourt, good morning. >> good morning, wilfred. >> straight to market action, declines last week. we did see the dow fractionally down. the s&p down 1%. the nasdaq down most significantly about 2.5%. within the s&p, 8 out of 11 sectors in negative territory. the tech down 3%. energy the best up over 2.5%. oil rallied significantly some 12%. we'll get to the reasons for that in a moment. today we are expecting a higher open. the dow up by 75 points. the nasdaq up 22 points. the s&p up about 107 points. that comes largely because of the positivity in european trade. despite a resounding no vote against the incumbent prime minister matteo renzi leading to his resignation in the constitutional reform referendum. why is the reaction so positive despite the bad outcome for the establishment? the transition post-renzi is looking to be relatively stable. so we have the bad outcome in the vote, but the realization that the worst-case scenario is highly unlikely, and by that i mean the possibility

wilfred frost will be back tomorrow. the rest of europe is sort of calm in holiday thin trade. green arrows in germany, italy and france. italy flat watching the banks. >> little bit of a scary headline on the banks yet the overall market has managed to pull it up. >> as they march towards the bail out. >> absolutely. as for broader markets we'll take a look at it was trading firm. there's a bit of a rally in natural gas. that might help the supposed come back in coal. we'll see if that continues. then to the dollar, also sitting pretty close to its highs and it remains there. it's 104.49 against the euro. that rate is barely above the lows for the euro. the gold be markets may be a little bit firming up from steep losses in the last few months. it's been a give up trade in gold. up almost 1% at a 1144 an ounce. >> the consumer will remain foin cuss this week as nation tease retailers deal with returns post-holiday sales and give card redemptions. about 10% of holiday purchases are actually returned. the rate is even higher for online purchase. majority of those items are retur

. >> i'm wilfred frost. let's check in on the markets at this hour. >> u.s.quity futures after another rally yesterday where the dow closed up about 40-something points. >> another rally yesterday after declines last week for the first time in four weeks. >> since the election. we got a bit of a rally going yesterday. s&p near a record, the dow finishing at a fresh record. the gains set to continue this morning. slight gains. dow futures up 10. s&p up 1. nasdaq futures are up 8. it was also buoyed by more strong data on the u.s. economy. services number looking pretty good. as for the ten-year treasury note yield this morning, higher yields continue to be the name of the game. there we are again at 2.38. selling of treasuries pushing yields higher driving a lot of this trading action. >> the other things u.s. markets were buoyed by were european markets which were strong. that italian referendum vote went against mateo renzi. france was higher, the ftse 100 also higher. looking at gains once again in europe a bit more muted than yesterday. the likes of italy

welcome back to "worldwide exchange" on cnbc, i'm sara eisen. >> i'm wilfred frost.d morning to you from me as well. >> let's check in on the global markets. another round of strength in yesterday's session, though led by tech. some big names that have been beaten down since the election like amazon, facebook, they showed some strength with the nasdaq outperforming. nasdaq futures up almost 2 points, dow futures up 18. s&p futures up a half point. to underscore the point, nasdaq since the election up only less than 3%. transports up 10%. the small caps since the election, up 13%. the domestic picture improves. as for the early action in europe, european equities strong ahead of the ecb meeting tomorrow. the dax is up 1.5%. france up 1%. ftse 100 up 1.4%. real strength here. >> is this really what we're still applauding that the hope of ecb action comes and that's a positive thing? >> it's a positive thing with a lot of political question marks in places like italy where we're seen bond yields tick up a bit. the hope is the ecb will come in and be a buyer and smooth t

i'm wilfred frost alongside courtney reagan who is in for sara today who is on assignment.ood morning. >> good morning. >> let's get straight to the market action. rallies across the board. record highs across the board yesterday as we said already. the dow, s&p, the nasdaq, russell 2000, s mid caps and th dow all hitting fresh highs yesterday. extraordinary stuff. broadness of the rally. the dow called higher this morning by 42 points. s&p by 3. nasdaq by 3.5 points. u.s. equities doing well. we also saw equities in europe do well yesterday. let's look at what the euro did over the last 48 hours or so. it moved very sharply. initially going about a percent higher. when the decision from the ecb was announced, the market was focusing on the fact that the monthly size of purchases was reduced, there fourth euro rallying on the expectation, that meant stimulus was being withdrawn. about an hour later, when the press conference began, the euro fell sharply. about a percent and a half down for the day. that was when mario draghi started to speak and people focused on the time f

i'm sara eisen. >> i'm wilfred frost. i have not watched "love actually." well, not this year. >> it's one of the best christmas movies. "notting hill" is one of my favorites from hugh grant. >>> after the dow outperformed the nasdaq and the s&p last week, dow futures are pointing to a higher start again, 41 points higher. the s&p futures up 6. the nasdaq futures are up a little more than 6 as well. some of the breaking news in terms of data in asia overnight, japan's november exports following .4% followed by the weaker yen and a better recovery in overseas demand. the polled economists are expecting a 2% decline. imports there fell to 8.8%. but that was better than the forecast of 12.6%. the trade surplus narrower than expected at 153 billion yen. tomorrow the bank of japan unveiled the final policy of 2016. and data ahead in china, november new home prices rising .6% from the previous month slowing from october's increase. as for how the markets did overnight, hong kong falling a full percent ending at a multi-week low there. the shanghai comp also negat

i'm wilfred frost in with courtney reagan in for sara.iven the run we have had recently, the dow is essentially flat, just higher. the s&p is showing a slightly more meaningful decline. this comes on the back of the nasdaq being the best performer last week up 3.5%. the s&p and dow were up 3%. so just expecting to have a little bit of profit-taking within the nasdaq this morning. let's have a look at oil prices. that's the big mover today on the news that some non-opec countries have agreed to the opec production cuts, in particular, russia is the most important one there coming to the party. that's led oil prices to rise higher by about 5% or 4.5% as we look at things now. so we're just shy of $54. we have the oil prices coming in just a moment. there they are, up 4.3% now. wti sitting at 53.7. so that's spurred oil prices. and energy sectors are higher as we look at european trade. we're seeing a little bit more muted performance than we saw last week as you can see some declines across the mains there. this comes on the back of big gai

i'm david faber along with sara eisen and wilfred frost.york stock exchange. carl and jim have the morning off. one day after we got that raise from the fed,

welcome to "worldwide exchange" on cnbc, i'm sara eisen here with dominic chu in for wilfred frost today>> good to be here again. >> throwback thursday, of course we throw back with holiday classics. >> mariah carey. >> let's check in on the global markets this morning after stocks took a pause yesterday on the march to 20,000. pulled back a bit. not much. the dow futures now down six. s&p down two. nasdaq futures down seven. >> much like it was yesterday at this time. >> the losses were fractional. >> we were at 40-point trading range for the dow? 50 trading points? >> tight ranges, lower volumes, holiday lull. just when you thought we would get up to the 20,000 number. not that far away. >> we're not that far away. 20,000 >>> good morning. number is kind of like a psychologically important number, maybe for some out there. it's a march to bigger better things down the line. you wonder whether or not people are paying attention to that mark. >> it's a technical level. it is sort of a point that represents confidence in the market. we are on watch again for 20,000. as for the treasury no

wilfred frost, i swear i saw him walking around. >> i thought you saw santa claus again. >>> nintendo's super mario run has broke app store records by becoming the fastest game to be downloaded more than 40 million times. the prospect of a one-time cost is proving unpopular among gamers with 8% of those trialing the games actually purchasing it. t >>> nokia shares are languishing at the body m of the stoxx 600 as it goes head to head with apple over intellectual property. this after the iphone maker filed a lawsuit in california arguing that nokia colluded with two patent infringement companies. the previous dispute in 2011, nokia prevailed with a $720 mill ron settlement. >>> augmented and virtual reality are gaining popularity for gaming and educational experiences. one company making a success out of ar is nexus studios, they're working on an ar game, a vr comedy series and creating new educational uses for the technology. i caught up with the company's founder, christopher o'reilly, and ask him about the business. >> the white house approached us to highlight open access at the whit

i'm david faber along with sara eisen and wilfred frost.e are live from the new york stock exchange. carl and jim have the morning off. one day after we got that raise from the fed, now we are 50 to 75. 62.5 basis points is where we are in terms of rates right now. you can see where we are in the markets, which did sell off after janet yellen's decision or the fed decision and the european markets, up across the board. i always do like to see spain and italy, thank you very much, control room, for throwing those in there. ten-year note yield the key here. we eclipsed 2.5% yesterday after the fed meeting. where do we stand now? 2.587. crude oil is down on the morning over almost 2%. our road map this morning starts with the step back in the rally. stocks slipping after the fed raised rates for the first time this year. >>> plus more on trump's meeting with big tech, the fallout and the upsides from mega caps in silicon valley. >> and yahoo discloses a new data breach affecting 1 billion accounts does it put their deal with verizon in jeopard

. >> i'm wilfred frost. it's the last week of 2016.ll week we're playing the top songs of the year. >> you missed some good ones yesterday. >> did i? >> happy to have you back. >> it's great to be back. feels like it's been a long week away. happy belated christmas to all of those celebrating it stateside. let's check in on the global markets and futures at this hour. yesterday we got slight gains. still not hitting 20,000 on the dow. it comes off about a week or so now of slightly treading water in terms of which way markets are going, on low volumes yesterday and friday the last two trading sessions saw particularly low volumes relative to the year as a whole. we are called higher today. only slightly. 16 points or 17 points for the dow. 1 point for the s&p. the nasdaq 9.7. one thing is clear for these markets. we'll end the quarter with positive gains. of those three indices, particular lly the dow, which looks like it could hit double digit returns. if we look quickly at the u.s. ten-year treasury note, we did see a little bit of a

welcome back to "worldwide exchange" on cnbc, i'm sara eisen with dom chu in for wilfred frost. >> happys. this is the procrastinator's time to go shopping. it will be because i will be doing some. >> the national retail federation found that most people wait until december 23rd to buy their last gift. >> the whole super saturday thing, that was last weekend, i did a lot of shopping then. >> we get an extra day because christmas is on a sunday. the top stories, european banks, deutsche bank agreeing to ingi2 settlement. this tentative deal offers some relief to the bank. its stock was hit hard in september after it acknowledged the doj had been seeking a $14 billion penalty. deutsche bank will pay a civil fine of 3.1 billion and provide $4 billion in consumer relief. they expect to have a pretax charge of 1.2 billion in the fourth quarter. deutsche bank note there's is no assurance of a final agreement. investors are breathing a sigh of relief here just on the news. it's out. it seems to be somewhat finalized. >> puts a cap on something. they can move forward. >> half of wloo what was an

i'm david faber along with sara eisen and wilfred frost. from the new york stock exchange. carl has today off. let's give you a look at the markets right now of course. we have turned on the broader markets after the futures showed an up open. and we had it, we have decidedly moved into negative territory s&p down about a quarter of a percentage point. >>> our roadmap for the hour begins with russian retaliation, moscow deciding not to expel 35 diplomats in response to u.s. sanctions. what does it all mean for the markets, investors and multinational companies? >> it's final trading day of the year after two down days for the dow, what's it going to take to get the trump rally rolling again? jim stewart's here to talk about what to expect in 2017. >>> and happy new year, the president of the times square alliance will tell us what security provisions will be in place for the celebration in new york city on saturday night. >>> first though, john harwood has more on what has been a top story this morning, namely russia's response to those u.s

i'm sara eisen along with david faber and wilfred frost.ive today at post nine at the new york stock exchange. carl has the day off. loving my wedding song playing now. the selling is picking up steam here. dow is down about 22 points, s&p 500 is down a third of a percent, all 11 sectors are now negative. nasdaq down 0.4. a bright spot is crude oil, wti making new highs of the year above $54 a barrel. we've got breaking economic data crossing the tape pending home sales are out. not quite living up to expectations. here the national association of realtors says pending home sales falling 2.5% in the month of november. economists were looking for a gain of about 0.4%. this is a disappointment. the drop puts pending home sales which is a measure of home sales contracts signed but not yet closed at the lowest level since back in january. a sign maybe higher mortgage rates are starting to bite. >>> well, let's get to our roadmap this morning. it starts with the dow continuing to try to push towards the 20,000 mark. turning negative though for n

i'm sara eisen along with david faber and wilfred frost.are live at post nine at the new york stock exchange. carl has the day off. let's take a look at markets bouncing back just a little bit in thinned out holiday trading. the ultimate day of trading of 2016 dow rebounding just a bit, 3m and home depot interestingly adding the most points to the dow. s&p 500 is up a little more than a tenth of a percent. wti crude though not helping in the rally. it is just below $54 a barrel. >>> our roadmap today starts with president-elect donald trump announcing 8,000 jobs moving to america as part of softbank's investment in the u.s. we've got the details and analysis straight ahead. >> and the trump rally taking a bit of a pause. markets limping to the finish of an otherwise upbeat year. will we make it to dow 20,000 in the final two trading days? >> you said you weren't going to say it again. >> there we go. >> plus, new year, new you. we'll speak with the ceo of planet fitness, how new year's resolutions may boost his company's bottom line. >>> pr

. >> wilfred frost, thank you very much for that. the way, jim, top s&p gainers since the election, b of a number one followed by jpmorgan, wells, berkshire, citi, goldman. >> i think this is very important. we're looking at a tweet about boeing. we see a phone call to greg hayes, united technologies. but what industry had been most heckled by the previous administration. it was the banking industry. when you speak to gary cohn and take him up to the apprentice that is being played out, what you say to yourself is this industry has met the wrath of government and it's kind of now being supported, because as j jamie dimon says, look, lending is good for america. i think a president that has been a builder understands the value of it. now, that's not -- i'm not being political, i'm just saying that this is a good time for the banks and the market is not done. the market is saying, listen, the heat is off. we thought that hillary clinton was going to win, we thought elizabeth warren was going to banking, now it looks like we've got a pr

wilfred frost there. donald trump has embraced goldman sachs as he preparation himself for the white house. steven mnuchin as treasury secretary, and gary cohen as director of the office of budget. all this begging the question, is goldman sachs in the driver's seat and what do we make about his comments of goldman sachs you said a new potentially less regulated environment? >> well, if you want to think about one of the firms that was probably most handcuffed by dodd/frank and a post environment, it was goldman who was fine, et cetera, et cetera. so they probably have the most to gain and historically the most clever in an environment where they have been able to work within a system. if you listen to the schwartzman comments that we're going to -- the least amount of regulation or the biggest change to unwind in his tin you're, it's enormous to think where goldman could get very involved and be very successful. >> is goldman too cheap? you still look at him, even after this run. is it still too cheap? i

i'm wilfred frost. i've joined andrew ross sorkin and melissa lee.ing me. >> great having you here. >> we're glad you made it through the traffic from your other studio. >> i have, indeed. not quite as quickly as normal but great to be here. let's look at the futures. yesterday we did see gains again across the board. about 0.6% for the dow taking it 90 points shy, 0.5% shy of 20k. the s&p was up a little more than that and the nasdaq was up about 1%. the rally broadening out. futures at this hour just flat as you can see. the dow expected to open slightly lower. so 20k may prove elusive. oil prices slipping a little bit today after a strong monday and a flat tuesday. $52.30 on wti at this hour. and tstill elevated since the election. >>> we've got a lot going on including the fed meeting. here's what's happening. the federal reserve widely expected to raise interest rates today. this would be the first time in a year the fed's decision and policy statements coming out at 2:00 p.m. eastern time followed by janet yellen's news conference 30 minutes la

wilfred frost recapping the day. no secret president-elect trump is a huge critic of the media.top media executives on how a trump presidency will impact their industry. stay tuned. mobility is very important to me. that's why i use e*trade mobile. it's on all my mobile devices, so it suits my mobile lifestyle. and it keeps my investments fully mobile... even when i'm on the move. sign up at etrade.com and get up to six hundred dollars. >>> welcome back. president-elect trump taking aim at mowing today, giving reprieve to the media industry. julia boorstin is in new york where some of the top media executives are speaking out about how the trump administration will impact their business. julia? >> reporter: hey, kelly. president-elect donald trump has said he would block at&t's acquisition of time warner. ahead of the senate hearing on the deal tomorrow, here are the business insider ignition conference time warner, ceo, jeff buick us dismissed trump's opposition. >> it will seem by everyone to be pro competitive, pro consumer, improve competition in advertising with the big dig

this goldman conference wilfred frost was at, most attended conference in years.want to hear different companies, j.p. morgan, regions, rf, regions financial, there's interest in stocks that there hadn't been. and then there are other companies like pfizer is in the dow, i don't know what will happen to that today, if you really have a tweet, if you have a mention of drug stocks. >> pfizer is one of the great beneficiaries of the ability to repatriate at a lower rate. >> very true. >> depends on who you talk to because there are a lot of intercompany loans in terms of what it nets to in cash, but it's a big number, $30 million, maybe more. >> but they've put through some big price increases. >> yeah, they have. >> i know the ceo of regeneron was on a panel with ian reed and there was a shouting match about price increases. price increases to cover up lack of innovation. i mean, there are drug ceos who would give you a lot of ammo if you're president-elect. i don't want to spend too much time on it, but recognize that the drug stocks that the dow is made up of a lo

for more on this call, let's bring in our own wilfred frost. eisman a goot not afraid to go negative on banks but likes them here. >> absolutely right. he said it was a golden age in investing for banks. of course that era has already begun with a huge rally we've seen in banks over the last few months. what's that down to? it is in part hopes for things like deregulation and tax changes, but it is the move in the yield curve more than anything else that is played the biggest part in the share price moves. thus, a constructive view on the banks from here should be more based on whether you feel the rise and steepening of the yield curve can be maintained or extended than hopes for deregulation or tax reform. and that rests on the hope more for growth and inflation than anything else. it is this reason why bank of america's been the best performer of the big universal banks. it is widely known to be the most geared to interest rate increases. low rates of course have been good for most sectors and the stock market as a whole over the last decade

. >> wilfred frost is more of a sean connery than -- >> yes, he is. >>> president-elect wading back intohe carrier debate tweeting that chuck jones, president of the local union that represents carrier workers in indiana, quote, has done a terrible job representing workers. no wonder companies flee country, he says. the union replying on twitter, chuck is a hero, not a scapegoat. you and others know about carrier because of his members' tireless work since day one to save all jobs there. chuck jones will join us later this morning on "squawk on the street." another example of you speak out against the president-elect, you will get called out publicly. >> yeah, you probably have to ask chuck jones about what the absentee rate is on the various -- i would ask that on the various shifts. because only reason i say is because when i was up with greg hayes, he said that the mexican absentee rate is about 1%. i asked him why would you want to move jobs to mexico, he said the absentee rate is 1%. that might be an issue. >> yeah, turnover. >> and something else has come up in this debate, which i

i'm david faber along with sara eisen, wilfred frost and mike santoli. york stock exchange on this last trading day of the year. jim and carl are off today. i think everybody will be back on tuesday. let's give you a look at futures here. >> not me. >> not you. all right. eisen's out but everybody else is back. there we are. looking for an up open this morning. european markets have tended towards looking positive, as you see right there. you know, not obviously huge

i am david faber along with, let me check here, we got sara eisen, wilfred frost and mike santoli, we'restock exchange. jim and carl have the day off. look at futures we're going to get ever closer to dow 20,000 it would appear at least at the open with the look there at where we are before we start trading, about a half hour from

let's get to wilfred frost who's at the goldman sachs conference and joins us with a special guest. >ogers the ceo of suntrust. great to have you with us. unsurprisingly positive mood here this morning. the stocks across the sector rallied. up about 14%. is that justified? is trump really that good for the banking sector? >> i think what's reflected is a couple things. one, it's pro-growth anticipation. whether it's here or not but pro-growth anticipation. obviously banks of fuel for growth. i think that's an accurate reflection. if we have higher growth banks are going to participate in that. i think it's also reflection on interest rates. both the absolute level and the slope of the yield curve. i think there are a couple things in play. >> hopes of deregulation, you didn't mention it. is the optimism about that a little overdone? >> i think that's a longer play and a longer poll. and the financial impact takes longer to realize. >> now, we mentioned the sector performance of rates. the other way is smaller mid-caps. they've soared ahead of the bigger cap stocks. you've got a big ex