wi wilfred frost will be along shortly. first off, you've got the u.s., mexico, and canada agreeing to a new trade deal the usmca making changes stocks bouncing around all session along on conflicting headlines about that december 15th deadline for china tariffs. will it sfwebe extended. and house democrats officially announcing articles of impeachment, two of them, against president trump. plus, coming up only today on the closing bell, wilfred frost is live from the goldman sachs financial services conference and he's got exclusive interview with howard marcus ks in just aw minutes. joining us now for the hour is steve grasso from stuart frankel. we've got to stop meeting like this >> i know, i know. >> we talked about this last night on fast money 5. what's going to happen if there's no trade deal? >> what's going to happen if the deal is extended and what's going to happen if a deal gets done there are three scenarios. quickly walk us through each one. >> if the deal gets done, the market shoots higher but it's only pha

. >> i'm quintanilla in for wilfred frost. trade obviously the big driver as courtney said reports just crossing u.s.-china deal has been agreed to in principle and awaiting the president's signature. jobless claims rise to their highest level in two years trade headlines have us on record high watch for the s&p, a closer call for the dow and nasdaq and would be the 27th record close of the year for the s&p. joining us for the other, stephanie link, good to have you here this afternoon. what does it mean? the computers take each headline as if it's fresh >> what a difference a year makes is all i have to say last year we had tight fed policy, no idea what would happen with trade. this year we have much more accommodating fed and seems we're getting some pieces of certainty on trade may not be what we want but making progress. now i would argue a lot of this is priced into the market given we've had market expansion on the multiple but, you do not fight the fed and at the same time the ism and pmis are stabilizing and the data

i'm joe kernen along with wilfred frost.off today u.s. equity futures at this hour have been around the flat line i was going to say they've improved >> it's been a great nine year run. >> nine years. yes, it has. >> the decade. the decade ends really in december of next year. >> in your view. >> if you think about it. >> we're going to disagree on this. >> it's better to round things i mean, and it's sort of in a simple way it's easier to think december. >> why don't we end it 2023 to start? three years out? >> you know, we do base ten. not everyone even does base ten. some do base eight here's what's making headlines at this hour walt disney is wrapping up a blockbuster year at the movies "star wars," the rise of skywalker topped the box office. so far this year, six disney movies have taken in more than 1 billion in receipts. disney has accounted for nearly 40% of all u.s. box office receipts in 2019 >>> and two economic reports will hit the tape this morning the chicago purchasing manager's index is out at 9:45 eastern t

welcome to the "closing bell," everyone i'm wilfred frost. i'm here at the fedex post today.is down around about 1% following some competitive pressures from amazon yesterday and ahead of their own earnings due to hit after the close today. that close, of course, just 59 minutes away we are slightly higher on the broader markets, set for record all-time closing highs once again. >> and i'm contessa brewer in for sara eisen today let's take a look at what's driving the action today divergent corporate expectations for 2020, at jetblue and eli lilly forecast a strong ye

. >> and frost wilfred frost. >> what is that, like bond james bond >> how do you like your martini?shaken, not stirred >> thank you >> is that how wilf likes it >> he's already wearing a tux dough t edo, underneath his suit. >> underneath the wet suit >> yes. >> when he goes up and blows up the enemy? >> yes. >> boeing was dragging 60 points off the dow. as you see, dow managed to claw its way back to the flat line. hanging on to 3137 cannabis fun to watch. >> yes. >> she points out the top six public cannabis companies this year have lost 25 billion in market. >> 25 billion. we had one of those, we do thing at the 5:00 about the big number and the big numbers, like cannabis, 50 billion in sales, supposed to be next year, by the way, just get this, i've been trashing home depot, 2020 is the peek year of investment, could be fine. i've been -- this is my fourth mention of home depot. wanted to throw one positive in. there we go. on the cannabis, once again, before we write it off, there is a company run by david kline, a real executive, and that's canopy and it is -- >> we spend a lo

sign me up good afternoon welcome to the "closing bell," everyone i'm wilfred frost. the toll brothers stock is up 1.5% they report earnings after the bell the broader markets, down about 0.2% it's been a bumpy session. we're 59 minutes left. we're down 67 points on the dow. >> hello, everybody, i'm contessa brewer in for sara eisen. let's take a look at what's driving the action today chinese export data falls, which is rep kindling the worries on global growth. democrats, republicans, and mexico nearing a deal on the

wi wilfred frost will be along shortly.st off, you've got the u.s., mexico, and canada agreeing to a new trade deal the usmc

. >> i'm wilfred frost what's driving the action today?opes as donald trump said negotiations with china are going, quote, very well. weaker than expected data as private payroll slows and oil having its best day since september. wgi up around 4% and a quic

wilf >> contessa, thank you i'm wilfred frost. a look at what's driving the action optimism over the trade deal with china driving all three majors to new highs with the nasdaq leading the pack today. boeing sitting out the rally and draggingn

i'm wilfred frost. let's have a look at what's driving the action u.s.ry activity and construction spending unexpectedly fell in november, raising concerns yet again about the strength of the u.s. economy. president trump announcingsu

. >> i'm wilfred frost the major averages are looking to extend the trade deal win streak to six sessions small caps seeing gains as well with the russell 2000 a new 52-week high and fedex is far and away biggest loser. you just heard from courtney, after missing on earnings and slashing that forecast joining us for the full first hour, wealth management. josh, as we just mentioned, fedex down a full 10% on earnings what's your take on that >> it's important to point out that this trend in fedex stock actually began in january 2018 it's been falling almost two years straight with very little respite on the way down. at this point, i think the answer, what you do with fedex, differs if you're a trader or an investor if you're a trader, you're not buying the stock i don't think there's any material support looking back at a ten-year chart until about 119, 120 that was prior resistance. it broke out it has retested that level before successfully. that's where i would look at a tradeable bottom we're not quite there yet. if you're an investor, you have to look at this moment to say this is ma

. >> i'm quintanilla in for wilfred frost.de obviously the big driver as courtney said reports just crossing u.s.-china deal has been agreed to in principle and awaiting the president's signature.

. >> it does, indeed welcome to the "closing bell," everyone i'm wilfred frost, here at the goldman sachsn sharply, almost 4% over the last two sessions banks leading the sell-off yet again, a sell-off that puts us down 0.9% on the s&p 500 59 minutes left of trade >> and i'm morgan brennan in for sarahize pn. let's take a look at what's driving the action president trump signals a china trade deal could be delayed until after the 2020 election. france and the eu said they were read to retaliate if france imposed tariffs on french luxury goods like champagne and handbags major averages are down more

. >> i'm wilfred frost the major averages are looking to extend the trade deal win streak to six sessionsseeing gains as well with the russell 2000 a new 52-week high and fedex is far and

. >>> welcome to the "closing bell" everyone i'm wilfred frost. another record setting day here on wall street i'm in the nike post that stock up a nice 0.3% today, up 30% year-to-date. another fresh record return on intraday we'll be all over that story we'll report earnings after the close. markets are up with 59 minutes left to trade. >>> thanks i'm courtney regan let's look at what's driving the action on wall street. the major averages setting intraday records as treasury secretary the stephen mnuchkin gives new details about the china trade deal jobless claims fall. and real estate and staples are leading the charge joining us for the hour is stephanie link we're both feeling the holiday red but we got a green market. like a christmas theme >>> we're now starting to see internalsin the market that's confirming the stabilization look at the 210 spread, the yield curve is steepening. nats a good sign asia stocks, they are breaking out. you look at oil up 10% in the past month all of these things are confirming we're seeing stabilization and th

. >>> welcome to the "closing bell" everyone i'm wilfred frost.tting day here on wall street i'm in the nike post that stock up a nice 0.3% today, up 30% year-to-date. another fresh record return on intraday we'll be all over that story we'll report earnings after the close. markets are up with 59 minutes left to trade. >>> thanks i'm courtney regan let's look at what's driving the action on wall street. the major averages setting intraday records as treasury secretary the stephe

i'm carl quintanilla in for wilfred frost. >> i'm seema mody in for sara eisen.an totoli >> you're approaching now some levels that were very aggressive year end targets by a long shot. nasdaq, of course, and the russell 2000 the only one today not coming to play >> yeah. 3240 for the s&p 500 joining us to talk about the markets today, anastasia amaroso from jpmorgan private bank also along with chief investment officer of market officers the santa claus rally the last week of trade continues. >> it does continue. we've checked off a lot of risks from our checklist this year and the market just continues to melt up. again, next year we're looking for better data. remember the other thing that happened this year is 23 central banks. caught rates i think we'll start to convincingly see that in the first quarter. and the market, prepositioning for this you don't want to come in on january 2nd and try to buy everything so i think a lot of hedge funds have been trying to get ahead of that >> mike, are we seeing indiscriminate buying yet? >> today the close is a sign t

welcome to the "closing bell," everyone i'm wilfred frost here on the floor of the new york stock exchange we had record closes on friday we were meant to have the best annual return for the s&p 500 for two decades, but today profit taking, all three indices lower. all 11 sectors of the s&p 500 lower on this, the penultimate trading day of the year. >> i'm courtney reagan in today for sara eisen let's look at what's driving the action today chinese media and the white house suggest the phase i trade deal will be signed within the next week, but are we seeing investors lock in gains for the year the dow, the s&p and the nasdaq all in the red the nasdaq is the leading indices and oil hitting a three-month highly after military strikes in the middle east energy is the best-performing sector today joining us for the hour is josh brown, ceo of ritholtz wealth management josh, obviously seeing a little profit taking here is this a tax situation scenario or is there more to read into about losing steam and sentiment? >> if you see profit taking on the what penultimate -- >> the penultimate >> is

i'm wilfred frost. let's have a look at what's driving the action u.s. factory activity and construction spending unexpectedly fell in november, raising concerns yet again about the strength of the u.s. economy. president trump announcing surprise tariffs and speaking of trade, the president declining to provide more details on the negotiations with china this morning, saying, quote, we'll see what happens broader markets at the moment down about 0.6% on the s&p the dow is down 192 points the low of the session for the dow 250. so we are off the loan he lows t recovering a little bit in that final hour of trade. joining us for the full first hour of the show is bespoke's paul hickey. how you doing? >> good. >> do you think it makes sense we'll start on a soft footing given the great run we saw in november >> we saw a big strong run to close out the month of november here and don't put too much weight into the first trading day of the month. i don't know if you recall, but last december, we were up 1% on the first trading day of december and i think we al

welcome to the "closing bell," everyone i'm wilfred frost. i'm here at the fedex post today. that stock is down around about 1% following some competitive pressures from amazon yesterday and ahead of their own earnings due to hit after the close today. that close, of course, just 59 minutes away we are slightly higher on the broader markets, set for record all-time closing highs once again. >> and i'm contessa brewer in for sara eisen today let's take a look at what's driving the action today divergent corporate expectations for 2020, at jetblue and eli lilly forecast a strong year but unilever slashes its outlook. >>> congress is on track to pass two massive spending bills averts a government shutdown and new data shows home building increased more than expected in november and permits for future home construction surged to a 12 1/2 year high. joining us for the hour, is keith bliss from i hue capital llc. the housing starts number comes in, just one more optimistic data point on the data front >> and i think despite trading on the all-time highs, this market is still poised

i know wilfred frost is a rum drinker. it's in the family i don't know what contessa drinks, but you're about to find out as "closing bell" gets started right now. have a good day. >> happy new year to you, as well, bill i hope you're enjoying the rest of that bottle, as we speak. welcome to the "closing bell." the final hour of trading of the year, you can see, celebrations kicking off in dubai that is the burj khalifa the tallest building in the world, still, contessa 830 meters >> and look at the fireworks coming off of that of course, dubai has become a big international tourist destination for new year's eve, among the likes of new york city and london and hong kong and singapore. >> and it's also a big financial center but no trading going on there right this hour, where there is still here one hour left of it. >> good to have you with us here for "closing bell. i'm contessa brewer in for sara eisen today. it has been a big year for stocks the dow, the s&p, the nasdaq all on pace to close the year higher by more than

wilf >> contessa, thank you i'm wilfred frost. good afternoon let's have a look at what's driving the action optimism over the trade deal with china driving all three majors to new highs with the nasdaq leading the pack today. boeing sitting out the rally and dragging on the dow on new concerns over production of the 737 max jet. and positive news on the housing front, as home builder confidence jumps to its highest level in two decades coming up next hour, former treasury secretary jack lew will join us to discuss trade and the economy. you do not want to miss that and with us for the whole first hour of theshow, dan nathan from risk reversal advisers. dan, good afternoon. thanks for joining us. >> great to be here. >> more optimism on trade or whatever you want to put it down to is a lot of this news not already out there? are you surprised to see ongoing rallies to new highs yet again >> at the end of the day, you like to see follow-throughs. so friday, we had a muted react. a lot of investors expected some kind of surge, simil

let's get over to our wilfred frost, sitting down with a special guest.f, take it away. >> jon, thanks so much for that. as you said here at the goldman sachs financials conference. joined by the chairman and ceo of bank of america, brian moynihan. >> great to be here, good to see you again. >> we heard from you this morning presenting at the conference and some other banks are very optimistic about the consumer it seems. talk us through that you have some unique data about how retail sales is going in the holiday period. >> well, you have to start a little bit from the structure and the u.s. economy is two-thirds, 70% consumer driven. so if the u.s. consumer is doing well, we know the economy will do pretty well if you look at our spending just in general last year to this year, it's up about 5.5% to 6% and that's across $3 trillion of card usage, checks written, cash out of the atms. it's a big dataset it's grown faster through the year if you look at the holiday spending, wednesday before thanksgiving to cyber monday, up double digits, strong. people a

i'm carl quintanilla in for wilfred frost. >> and i'm morgan brennan.es for all three of the major averages with the dow finishing the day up 96 points the s&p also finishing up just barely, by finishing up higher and the nasdaq also higher its ninth straight day of gains, which is the longest win streak for the nasdaq since the fall of 2017 the russell also finishing the day in the green joining us to talk about the market day, stephanie link, head of global equities research at nuvine and tom lee with fund strat global advisers, both still with us. stephanie, i'll start with you what a difference a year makes as we come into christmas eve. >> thanks for the fed, thanks for global stimulus, fiscal and monetary policy. it really does, the combination clearly works. but this year was all about multiple expansion, guys this was not about earnings, right? you went from 13.9 times on forward s&p multiple last december you're now at about 18 times forward. we are getting rich. what we really need to see in 2020 is earnings growth. i think you're going to get

sign me up good afternoon welcome to the "closing bell," everyone i'm wilfred frost. the toll brothers stock is up 1.5% they report earnings after the bell the broader markets, down about 0.2% it's been a bumpy session. we're 59 minutes left. we're down 67 points on the dow. >> hello, everybody, i'm contessa brewer in for sara eisen. let's take a look at what's driving the action today chinese export data falls, which is rep kindling the worries on global growth. democrats, republicans, and mexico nearing a deal on the usmca trade pact and big catalysts for investors on the horizon. with fed meetings this week and new tariffs set to go into effect this weekend. joining us, ian winemore we've been paying close attention to these big trade headlines. how much is this influencing what we're seeing on wall street these days >> i think it's overstated as to how much it's actually influencing wall street. i think there's two things at this point the first is that there's so much liquidity being pumped into the marketplace by central banks. they just announced another round

i'm wilfred frost. >> and i'm morgan brennan like with mike santoli.stocks are settling in this down day. losses for the major averages, but well off of session lows the s&p finishing down 20 points or about 0.6%. the dow down 278 points, near the highs of the session, 1% drop nasdaq also down half a percent. and the small caps, the outperformers relative to the major averages, only down 0.3% >> joining us to talk about the market day, ariel investments vice chairman, charlie bobrinskoy, as well as tony dwyer. good afternoon to you both mike, kicking things off with you. morgan just said it, well off the lows by the end of the day, only down 1.5% over the last two days >> what started friday looks like a fairly minor shake out so far. i think we did get a little bit stretched and extended people thought everything was lining up for the seasonal year end rally. everything meaning turning up higher in industrial growth for the world. we thought we were going to get a trade deal in the bag. and of course, sentiment was negative a couple of months ago. it

wilfred frost has what to expect next year. >> it's been a bumpy year for financials in 2019, so here things to watch for in 2020 first, interest rates. bank stocks are always linked to the yield curve because of its direct impact on net interest. this has been particularly the case in the second half of 2019 as it's likely to be next year as investor fears over where we are in the cycle continue to rise second, regulation after a decade of ever-increasing costs and restrictions, banks have enjoyed three years of easing regulation the 2020 presidential race will have a huge impact on the direction from here. and as president trump's administration has shown, quite a lot of regulatory change can be made without congressional approval >> tech has led to challenges for the big banks. despite that, the big players continue to get bigger even if their margins are pressured in the process. and more mergers could arise as we've seen with truist and charles schwab >> a rough ride for financials, barbara, but some of them actually came out ahead. >> j.p. morgan is the class act in this group.

we're always global but today i'm joe kernen i'm along with wilfred frost.ppens here or anything that happens there and really if you go east from the uk and around i think we've got you covered. >> i think we do. >> across the pond becky and andrew are off today we've been -- we have been talking all morning. >> basically i've been here for hours, yeah. >> but we have a relationship, and we're going to bring that rapport and that chemistry to viewers. >> this is the first time i have sat at this epic new set. >> oh, it is >> i think we have the best set in business news at stock

. >>> welcome to "closing biing b" i am wilfred frost >> let's check in the market, higher by 1.2% a little slipping into the close. healthy gains into the open. 10 out of 11 sectors were high >> and joining us to talk about the market, dan nathan, he's still with us along with brian pence. is this the beginning of santa claus rallying here? too early to call that >> specifically, too early tail winds have helped us. you get a little bit of choppiness the market was hesitant because you still have that deadline out there. december 15th for tariffs. i love to over think it and saying it does not matter in front of the windshield market i do think the premise of the rally since october is still in place. you probably had abbotti bottom the economy. people were too defensive in terms of positioning and the fed. all that still in place except you need -- perhaps, you have no excuses to stand in the way. by the way, the definition between christmas and new years. it remains to be seen. >> santa is back to the north pol pole >> there is a simile to 2017 and january of 2018. there were some

of that and the broader market in this last hour of trading >> and i'm carl quintanilla in for wilfred frostn today s&p 500, a new intraday high nasdaq also hits a high as well and looks to extend its win streak to nine days. the longest streak since 2017. some mixed data today. new home sales top

i know wilfred frost is a rum drinker.y i don't know what contessa drinks, but you're about to find out as "closing bell" gets started right now. have a good day. >> happy new year to you, as well, bill i hope you're enjoying the rest of that bottle, as we speak. welcome to the "closing bell." the final hour of trading of the year, you can see, celebrations kicking off in dubai that is the burj khalifa the tallest building in the world, still, contessa 830 meters >> and look at the fireworks coming off of that of course, dubai has become a big international tourist destination for new year's eve, among the likes of new york city and london and hong kong and singapore. >> and it's also a big financial center bu

welcome to the "closing bell," everyone i'm wilfred frost here on the floor of the new york stock exchanges on friday we were meant to have the best annual return for the s&p 500 for two decades, but today profit taking, all three indices lower. all 11 sectors of the s&p 500 lower on this, the penultimate trading day of the year. >> i'm courtney reagan in today for sara eisen let's look at what's driving the action today chinese media and the white house suggest the phase i trade deal will be signed within the next week, but are we seeing investors lock in gains for the

. >> i'm wilfred frost what's driving the action today? renewed hopes as donald trump said negotiations with china are going, quote, very well. weaker than expected data as private payroll slows and oil having its best day since september. wgi up around 4% and a quick reminder it's now been 53 days since the president announced the phase one deal with china was agreed and just waiting to be inked that's 53 days and counting. joining us for the full first hour of the show, wealth management ceo josh, did i pronounce it correctly >> nailed it todayly rsi, people toss around these terms, overbought, oversold they use them qualitatively. the market went up a lot it's overbought. there's a technical definition to things like being overbought. by any stretch of any way you want to look at it, we were overbought on something called rsi. s&p 500 we hit 75, the most overbought we've been technically since january of 2018 and we know what happened after that a very swift 17% sell-off. so it's not shocking that you have big down 400-point day in the

. >> and i'm david faber in for wilfred frost.tion this afternoon. stocks continue that steady climb higher we're on record close watch for the dow and the s&p. the nasdaq, though, it's in danger of snapping what's been an 11-day winning streak and holiday spending, that continues to help stocks

i'm wilfred frost. >> let's check in on how we finished record closes once again major averages up, allors in the s&p were higher, led higher by energy utilities and health care. that relatively defensive tone as courtney was just mentioning. the dow up about a third of one percent and the nasdaq up 0.4% >> joining us to talk about the market day, charlie bobrinskoy at aerial investments. still with us liter with peter shekini at kantor fitzgerald mike, wilf pointing out the defensive tone and yesterday we mentioned we might see some interesting moves today because of it being an options expiration day and the last friday before christmas but relatively quiet session >> it was really more of the same the market continues to levitate in a calm way. seasonal forces. it seems like whatever they had in the risk budget, let's spend it down and turn it into stock it seems to me that the bull case is certainly very plausible, it's just also very well known everybody seems to be broad agreement on why the market is doing what it's doing. and the question is how far that can go right now, things

the broader markets are at market highs. 59 minutes left in trade >> i'm carl quintanilla in for wilfred frost ever.

. >> and i'm david faber in for wilfred frost. let's take a look pat what's driving the action this afternoon. stocks continue that steady climb higher we're on record close watch for the dow and the s&p. the nasdaq, though, it's in danger of snapping what's been an 11-day winning streak and holiday spending, that continues to help stocks amazon rallying again, not as much as yesterday, of course, when it posted one of it best days since january joining us for the hour is mark tepper, founder and ceo of strategic wealth partners. and mark, you know, a rally like this going into year end has got to make your clients feel good but do you tell them not to expect the same thing next year? >> that's absolutely the conversation we're having with clients right now. i mean, it has been an awesome year markets are up about 30% all on the back of no earnings growth whatsoever. so it's all been multiple expansion. it's all been an increase in investor sentiment so we're telling clients right now, manage your expectations for 2020 don't expec

i'm wilfred frost. >> and i'm contessa brewer in for sara eisen today along with mike santoli, cnbc'smentator >> let's check in on where the markets closed just positive, it seems. it looks like we fully settled, the s&p might be moving up a little bit the nasdaq eking out slightly more gains anything positive is a record high for the nasdaq. missing out on that act late the s&p up 0.7%. >> joining us to talk about the market day, lindsay belle, chief investment strantegist along with john rutledge and former adviser to the reagan and george w. bush administrations good to see you all today. mike, first of all, record highs now on the nasdaq and the s&p. the dow edging closer to its record high as well. on a trade headline that mostly made investors go eh >> the ultimate headline was the minimally acceptable news in terms to how it was agreed to, but i think you have to keep in mind all the market that has done up to this point. s&p up 10% in two months we've been setting aside one fear or hurdle after the other whether it's recession, the yield curve, the kind of repo market anything

. >> that's frost. wilfredt tell you that tractor supply is far more than tractors it's what you do see you don't go outside it's gloves. it is amazon proof >> it's a good pair of socks >> you know what they do they have vet narns. -- veterinarians c. chris -- in my -- >> in all seriousness, it is a far larger cap company than macy's >> some say it's taking a sip. >> it's the key to this market tractor supply i remember those days. >> those were the great days i can tell you the compliments that connect them make you feel like uh-oh. >> only been a couple years. meantime, gm joining forces as we said earlier to build a new battery plant near lords the town, ohio phil lebeau has that. >> good morning, let's bring in mary barra, chairman and ceo of general motors as well as the ceo of lg chem they join us from the gm battery lab in warren, michigan. mary, let's begin first off with you. this joint venture, you guys talked about it with the uaw, you were thinking of building this how important is this to the trans