And dialup shares slide after the german chip maker says apple could design the car chips in the next few years. Takinga look at the European Market this morning you can see there is a lot of green on the board there across the europe 600 you can see a rise of almost 3 4 of 1 if you look at the specific sectors driving that upwards movement we can have a look right across some of those sectors in particular industrials doing very well this morning. Up almost 1 1 4 and take a look at the European Markets across the wide sector. Ftse 100 there up 4 5 of 1 . The cac karant up 1 lets talk about trump and tax in the United States he says confidently theyll reach a deal after the Senate Approved its version of the legislation over the weekend the plan includes cuts to individual taxes and the corporate rate by nearly 1. 5 trillion over the next decade but it eliminates some popular tax breaks a Nonpartisan Group says it could add 1 trillion to the deficit. Theyre reconciling their respective tax reform plans before any bill can be signed into law by president drumpd donald trump. A lawyer for President Donald Trump is taking responsibility on why the u. S. Leader fired general flynn. General flynn pleaded guilty to lying to the fbi Nbcs Kristen Welker has more on that. Reporter damage control. The president s outside counsel john dowd saying he dictated this tweet to an aide sent from the president s twitter account saturday, i had to fire general flynn because he lied to the Vice President and the fbi the tweet sparked an uproar. It implied the president knew his National Security adviser Michael Flynn lied to the fbi and asked fbi director james comey to go easy on flynn. Dowd saying hes responsible and he did not know flynn had lied to the fbi when he fired him dowd added, im out of the tweeting business, i did not mean to break news news some say is true raises questions of a possible obstruction of justice charge. Lindsey graham warning. The tweeting comment regarding ongoing criminal investigations at your own pe l peril, id be careful. I never asked comey to stop investigating flynn, just more fake news covering another comey lie. But former fbi director comey testified to congress this summer i understood him to be saying that what he wanted me to do is drop any investigation connected to flynns account of his conversations with the russians. Reporter tonight the top democrat on the Senate Intelligence committee. I believe fbi director comey. I think he was very credible in his testimony in his private meetings with us. Reporter on friday flynn pled guilty to lying to the fbi about the meetings with Russian Ambassador hes now cooperating with special counsel robert mueller. What has been shown is no collusion. Theres been absolutely no collusion so were very happy. [ inaudible ] well see what happens. Reporter at least three other Campaign Associates have been indicted or pled guilty Dianne Feinstein on meet the press says the congressional investigations are also ramping up. I think what were beginning to see is the putting together of a case of obstruction of justice. Reporter some critics suggest as the the investigations wind on they may be taking a toll. As this investigation has moved closer to the oval office it has driven increasingly erratic behavior by the president of the United States. Lets talk about this and the impact it might be having on the u. S. Dollar. Hes the managing director of g 10 fx. We saw the dip in equities what impact could all of this Political Risk have on the u. S. Dollar the risk is there and keeps coming back. It highlights the risk of paralysis in washington and the whole dysfunctional presidency those risks are much more contained. If you want to compare them to the progress on the tax reform, you would argue its much closer to delivering a fiscal stimulus. Net net its a down side risk. From that point we will be paying close attention to it but not necessarily reacting to it. Lets talk about the senate tax band over the week end from what you understand of the bill, will it be this magic bullet, the economy that republicans have hoped it would be not really. If you look at the range of estimates on the positive growth impact from any fiscal stimulus that would come up with the whole proposal its being hashed out in the senate and the house especially before year end we think the positive year end impact could be 1 4 of a percent point, 2018, 2019 on the horizon. Its not a game changer. Its been positive for a while now. It is really the case that we think its going to continue to support the dollar but were up against selected currencies. You mentioned that we have the reconciliation process to go between the senate and the house. You talk about the impact and the growth what about the impact on fed policy ultimately were dealing with a u. S. Economy with full employment i think fiscal stimulus could boost inflation. There are those calling for more than three rate hikes next year. We are more on the conservative spikes from that point of view we expect if anything the fed could deliver on it but not necessarily exceed i think the december meeting will be a confirmation of that given that the december rate hike is in the price, given that the markets are already moving up to catch up with the feds, you could argue there is some pickup in the dollar rate advantage but more a game changer for the dollar the dollar could do well against currencies that are particularly insensitive. We have treasury yields and we identify the japanese yen, the swiss frank as the most vulnerable plus obviously some other currencies in the space like the Australian Dollar that have historically proven to be quite sensitive. So growing rate advantage will translate into more against those currencies at the same time we think the euro, the pound remain and good volume and think those can actually even out perform the dollar heading into the new year. Not necessarily global strength, very specific currencies. Selective being regional, if you wish, is smart. I think asia in particular could be the one region that could do particularly badly against the dollar in the case of the swiss frank were dealing with a fairly over valued currency but an attractive funding currency. If you want to benefit from a pickup in treasury yields as could be the case going forward, you could fund that trade by selling really swiss or in dpn. I have to ask you, theresa may traveling to brussels. Weve heard from the foreign minister of ireland that theyre not looking at an agreement. Whats your impact, even whats your assessment whats going to happen with the sterling we are cautiously optimistic in the medium to long term going into the meeting at lunchtime, clearly some positives are already in price the bar for the positive outcome may be a bit too high for the pound. On the whole i think that coming out of the meeting if, indeed, theres some negative headlines especially on the irish border issue, that wont help in the big scheme of things, however, we still have the december 14th e. U. Summit. I think ultimately the pound remains buying dips. Cable, the pound does remain on a gentle up trend against the dollar and we kind of stick with that forecast for the time being. We think the brexit risk or the worst of the brexit risk will abate and continue to abate after the e. U. Summit next week. Is there a lot of risk there . Indeed. The the uncertainty is helping the currency whats quite important, coming back from a trip in the middle east what surprised me was the extent of bearishness there the fact being that if you look at a more traditional positioning data, they will tell you that the short term, all the short term put in place after the e. U. Referendum have been taken off the table. That doesnt seem to be the case when you talk to investors anecdotal evidence is late in the market if, indeed, the brexit uncertainty starts abating after the youth summit on december 14th, you argue that those investors make more to the pound. So all of that is building a fairly constructive outlook for the currency from here any Political Risk notwithstanding in the process it could be a volatile path to those highest we expect indicators in cable. Still we think thats the trend. Thats why its going to go over longer term. Thank you very much now looking at the global body for Central Banks, its sounding the alarm on frothy financial markets. They look easterly similar to the pre2007 financial era the bank of International Settlements points out that markets continue to heat up even as the Central Banks wind back stimulus and the rising rates of the fed and bank of england have done nothing to cool the asset bubbles. Can a tightening be considered effective if financial conditions unambiguously ease . And if the answer is no, what should Central Banks do . Tell us what you think email the show. The address is streetsignseurope cnbc. Com. Follow us on twitt twitter streetsignscnbc coming up, is the movie business in line for some m a magic as disney combats talks with 20th century fox. Some air fresheners are so overwhelming, they can. Send you and your family running. Introducing febreze one for fabric and air. No aerosols. No dyes. No heavy perfumes. It cleans away odors for a pure light freshness. So you can spray and stay. Febreze one, breathe happy. We thats why at xfinityic. Weve been working hard to simplify your experiences with us. Now with instant text and email updates youll always be up to date. You can easily add premium channels so you dont miss your favorite show. And with just a single word, find all the answers youre looking for. Because getting what you need should be simple, fast, and easy. Download the xfinity my account app or go online today. Disney is back in talks with 21st century fox about buying some of the companys entertainment assets thats according to a number of media reports which says the News Corporation is looking to offload divisions including its movie studio, cable channels as well as its International Business sky cnbcs Parent Company comcast has also initiated discussions with fox u. S. Drugs still staying in the u. S. Chain cvs is buying Health Insurer aetna for 69 billion in cash and stock that is the largest deal of this year and including debt it amounts to 77 billion in total. The tieup is into integrating the two firms into a more fully grounded company it could stabve off of threats f the like of amazon. Talking with generic drug makers about possible partnerships. The possibility of amazon entering the pharmacy space has weighed on the sector. Amazons plans are still not clear. The tech giant is having exploratory conversations with makers of generic drugs. The nature of those conversations implies that amazon is still considering what role it may play some expect could seek to disrupt the Drug Distribution area its also possible that amazon wont pursue the space at all, but drug makers on the whole are enthusiastic about the prospect. Were quite interested in this i mean, obviously it could be a very disruptive change in the overall distribution model to have a company like 578 amazon this space wed welcome a conversation with amazon and what theyre thinking and how we can work with amazon just like other parts of the system. Some say the pharmacy space is too heavily regulated for amazon thats the view of stefan amacina. Walgreens and cvs have been pressured as investors weigh the potential entry. Fueling speculation was a report in october that amazon had acquired medical licenses in the u. S. It became clear after that that those licenses didnt give amazon the ability to distribute pharmaceuticals. The question is still a question mark meg terrell, cnbc business news. The ceos of cbs will be speaking to us on squawk box at 7 10 eastern, that is 13 10 Central European time. Here are some stocks to watch in europe. Fiat stocks are on the rise. Sergio marcioni says no merger talks are ongoing. The ceo of airbus says he expects to deliver over 700 aircrafts to customers in 2017 that is despite a delay due to technical problems with the engines. Dialogue shares are at the bottom of the market after one of the biggest customers said it would stop buying its chips. Dialog said it saw no reason to alter the 2018 expectations. Finally, rio tinto is going to have the leader step down. It sees 2017 cap ex at less than 4. 5 billion down from a 5 billion forecast the company said it would work on focusing Free Cash Flow and shareholder returns. Now swiss banks have reportedly started reporting suspicious activity no criminal proceedings have yet been opened. The move, of course, coming amid a corruption crackdown and credit swuisse says it has no information. Irish foreign minister says an agreement over the border hasnt been reached ahead of brexit talks but the progress is being made he said that talks are in a, quote, sensitive place the Irish Governments formed a Cabinet Meeting around 10 00 a. M. The irish Prime Minister is expected to seek a mandate over a potential decision on whether the u. K. Has made, quote, sufficient progress on resolving the issue of the border with Northern Ireland sterling down slightly lower as theresa may is going to meet mr. Junker the talks on trade and a transitional deal can now begin. E. U. Leaders will need to be convinced that significant moves have been made that will be made at a summit in brussels in a few days on december 14th. Were joined by henry newman the irish proposal was that Northern Ireland and the entire u. K. Stay within the union do you think the irish could have done more in terms of bringing their own proposals to the table as to how that border could be workable . I think the irish obtained that thats completely understandable theyve got a lot to lose from a bad brexit if they end up being very cut off im slightly confused by their position theyre saying we need the brex brexiteers to be here. Were not allowed to Start Talking about those because the e. U. Has said we havent made sufficient progress to talk trade. I know that you argue, many argue that the phrase sufficient progress is inherent why do you think the British Government signed up the way the talks were phased . Thats a reasonable question. It probably was a mistake by the British Government to agree to this phase talk. As you said, this is a political test, not a technical test indeed, that phrase sufficient progress was chosen in the guidelines by e. U. Member states precisely because it allowed flexibility. The e. U. Reached sufficient progress its got that pretty much on the question of the money and ireland is emerging as the key Sticking Point as you said again, the Irish Government is saying they want no regulatory divergence between the republic and the province. Thats a difficult demand to make Northern Ireland is an area of legitimate interest for the republic but i dont think it can goso far as to say they have the right to veto any future change in regulation. We were in ireland including up in the border area where youre looking at for instance, we spent time with dairy farmers, dairy industry. That regulatory divergence theyre concerned about. We saw them on friday saying shoulder to shoulder theyve been standing with the Irish Government are you surprised how unified the e. U. Government has been youve seen a lot of e. U. Unity. That might get harder later in talks but at the moment, no. I think they should be listening to the former irish tea shop we need a combination of Technical Solutions on the border, he said, and the e. U. To agree to turn a blind eye and accept, for example, some dairy cows may be crossing over the border and that will be something you need to ignore the u. K. Has also said that in terms of agriculture energy, theyre broadly happy to look at a lined regulatory future. I dont think that means all Financial Services or other areas of regulation that we need to be permanently aligned. There are some areas of regulation that more precisely affect the border than others. Whats the position of ter rece theresa may if theres no progress made . I think its quite hard to tell if there was no sufficient progress i think it would be on one level it could be a massive set back for her on another level it might mean that the pressure becomes overwhelming for the u. K. To walk away from the talks and pursue a nonnegotiated exit from the e. U. The businesses and also although its probably true that the u. K. Will be damaged more by such an exit, its certainly the case that ireland will be damaged more than any other e. U. 2700 country you think they would fire them essentially i think its a high stakes game hes entitled to defend his domestic interests hes got a domestic political landscape. Hes a minority leader, newly selected tea shop and theres a european picture he knows this is his moment of maximum leverage if he signs up for significant progress, it will be much harder to say, no, no, no, we need further concessions. Myanmar speaking last week said they were fully unified and behind on this issue in terms of the fiscal landscape, he has support for this hard line approach. In terms of theresa may and her leverage, does she have any . She does. She needs to say that her room for maneuvering domestically is relatively limited we saw a new demarche from euro skeptics in the sunday papers who are setting out more clearly their red lines for the negotiations she needs to say, theres only so far you can push me in terms of e. U. Balance and budgets, that is one thing that we seem to have had a lot of movement over the last couple of months or so where the British Government seemingly has agreed at a cabinet level will offer the money that the European Union are looking for. Is that some kind of strength where she can say, look, you guys want to not pay more on an individual country basis and not receive less and we can promise that if you will pay for it. Nothing is free. Absolutely. She can turn back that e. U. Line nothing is agreed until everything is agreed i signed up for this chunk of money. Not quite as much as the e. U. Wanted it will ensure that nobodys paying more or less in the current budget period which is a crucial demand and also that the debts that the u. K. Has gotten, she can say ive gotten this on my cabinet if we are not allowed to talk about trade or the future shell say, look, that cabinet unity will dissolve around this issue and ill have to go back and essentially youll be losing out on that money which is for the e. U. A huge problem. The Irish Government could face a lot of blame from both british commentators and british politicians. Is this a way for the e. U. To lay the blame on talks not progressing on the irish i dont think were seeing that were seeing the e. U. Earlier very united behind ireland theres a determination to find a group. Im worried that ireland is setting itself up. Hopefully there will be a recognition. She has no intention of jeopardizing the Peace Process nobody on the u. K. Side wants that process they should stand together and say to brussels, we dont want a border we need to think of creative solutions. Thank you very much, henry newman director at open europe. Ahead of Prime Minister mays meeting, well see how the u. K. Pmi is doing the latest on the u. K. Construction pmi coming up next. Zar one of our investors was in his late 50s right in the heart of the financial crisis, and saw his portfolio drop by double digits. It really scared him out of the markets. His advisor ran the numbers and showed that he wouldnt be able to retire until he was 68. The client realized, i need to get back into the markets i need to get back on track with my plan. The Financial Advisor was able to work with this client. Hes now on track to retire when hes 65. Having someone coach you through it is really the value of a Financial Advisor. And im the founder of ugmonk. Before shipstation it was crazy, like. Its great when you see a hundred orders come in, but then you realize ive got a hundred orders i have to ship out. Shipstation streamlined that whole process. The order data, the weights of the items, everything is seamlessly put into shipstation, so when we print the shipping label everythings pretty much done. Its so much easier so now were ready, bring on the orders. Shipstation. The number one choice of online sellers. Go to shipstation. Com tv and get two months free. You myour joints. Thing for your heart. Or your digestion. So why wouldnt you take something for the most important part of you. Your brain. With an ingredient originally found in jellyfish, prevagen is now the number one selling brain Health Supplement in drug stores nationwide. Prevagen. The name to remember. Welcome back to street signs. Im willem marx. These are your headlines european stocks open in the green and the dow is over 200 points higher. The Senate Passes the tax bill. No text yet. Irelands foreign minister says an agreement over the border hasnt been reached over brexit talks but says progress is being made. U. S. Drugstore chain cvs buys insurer aetna for 69 billion. Reshaping the industry in the largest deal of the year cnbc speaks with leaders of both companies later today. Dialog chip maker says apple could design its own chips in the next few years and were going to bring you some numbers pmi construction numbers here for the u. K. Have come out just a moment ago it looks like they are much, much higher than expected at 53. 1 thats a fivemonth high 50. 8 last month and they were expecting 51 that apparently is largely due to increase Government Housing plans in last months budget lets take a look at Foreign Currency Exchange rates right knew the euro is down against the dollar about a quarter percent the dollar is strengthening against the yen quite significantly and the pound as we mentioned earlier also weakening against the dollar thanks to all of that news against e. U. Negotiations against brittain and the swiss frank is up. Lets take a look at European Markets now more broadly we can see the ftse 100 up 3 4 of 1 . Xetra dax up 1 4 of a percent. The ftse may be up more than 1 as well. Take a look at u. S. Futures as well a few hours ahead of the open, s p 500 looks to be opening 15 points up. The dow jones up and the nasdaq also looking like its going to open strongly. The latest twist into the Russian Investigation involving the Trump Campaign have been dominating the news. A lawyer has taken responsibility for a weekend tweet why President Trump fired Michael Flynn. He pled guilty of lying to the fbi. Tracie potts joins us from washington, d. C. Whats been the reaction inside the white house . Reporter well, we saw the president on twitter all weekend long, defending, deflecting to other topics when it comes to the russia investigation the reason that that particular tweet is important is because it essentially said that the president knew that flynn lied to the fbi before he fired him, which also would mean that the president knew that flynn lied to the fbi before he told james comey, the fbi director, to back off the flynn investigation. The president came back and said he had not told comey or did not tell comey to back off that investigation even though thats what comey testified under oath. New twist and turns in this investigation that has now produced four charges, four different people connected to the Trump Campaign charged and now were hearing here on capitol hill the top democrat on the Senate Intelligence committee, theyre also investigating saying they may be looking at an obstruction of justice charge for the president. That would be huge, but theyre building the case at this point. It doesnt appear that were quite close to that, but this is the first time weve heard them coming out saying, yeah, it looks like everything is lining up for a possible obstruction of justice charge in this case. Tracie, thats the democrats talking on capitol hill. What have we heard in response to the latest from the republicans . Reporter they want to hear more about whats happening at the fbi. You bring up a good point. We have not heard the Republican Leadership say anything close to theyre looking at obstruction of justice keep in mind, we have at least three different investigations going on the house intelligence committee, the Senate Intelligence committee, judiciary committees are looking into this. The biggest investigation that all eyes are on here in washington is that investigation by the fbi and special counsel robert mueller. Tracie potts, thank you so much nbc news there in washington. U. S. Senate leaders have passed a version of sweeping tax reform the plan would lower taxes to individuals and businesses but estimates indicate it could add 1 trillion to the deficit house and Senate Lawmakers must reconcile their tax reforms before any bill can be signed into law Hallie Jackson has the details so last night at about 3 00 in the morning i got a call reporter President Trump today describing the moment overnight he found out his first big legislative win looks locked in for years not since ronald regan having come close to passing. They couldnt pass them. They couldnt get the votes. Reporter republicans got the votes to pass the massive tax plan that would cut individual taxes, cut the corporate rate and do away with some popular tax rates and adding a new Child Tax Credit it will add 1 trillion to the deficit. Billed as a middle class cut, theres still no guarantee allamericans will see their taxes go down in whats now the biggest overhaul in decades. Approved in minutes. The tax cut and jobs bill as amended has passed. Reporter that left democrats furious with a process they slammed as rushed and opaque. This is the tax bill. See how thick it is . I want youto take a look at this, folks. This is your government at work. Reporter back in 2000 fine republicans leveled the same criticisms at democrats during debate on the Affordable Care act. This massive piece of legislation is being written behind closed doors. Reporter that was then but now . But the argument that this was not an open process is ridiculous sure there were changes as we moved along, but the core of the bill everybody was familiar with. Reporter its not a done deal just yet. The senate still has to square its bill with the house version to figure out, for example, the number of tax brackets, whether individual tax cuts are temporary or permanent, how generous the Child Tax Credit should be and whether corporate cuts should start immediately or later. That will take time with democrats promising to use that window to fight. Senator bernie sanders. They have significant differences that they have to reconcile which gives us three, four weeks to rally the American People that was nbcs Hallie Jackson reporting. To talk about this were joined by lindsay newman. I want to ask you about the impact of this political turbulence i want to ask you about what you see of the positives and the negatives of this proposed plan. Sure. President donald trump stated domestic policy was to drive Economic Growth and to bring jobs back. Weve seen two bills make it through the senate and the house. The big winners here are domestic corporations. Theyre going to see cuts in their taxes from 35 to 20 pass through entities like llcs and partnerships see some benefits. This is about helping u. S. Versus nonu. S. Business. Domestic businesses will be helped most. The question is a bit open ended still. Then what about the idea of there being draw backs weve heard from a number of economists have said this plan is not going to be the magic bullet that the republicans have proven it might be what are the potential down sides of this bill sure. We saw last week the joint Committee Said this will raise the deficit up to 1 trillion. This is not great news they tried to make some work arounds last week in the late hours including maintaining the alternative minimum tax. The bigger issue i think were looking at is how this will filter through all income brackets they suggest that some will see cuts in their taxes. The senate plan sun sets that in 2025 at which point an increasing number of individuals will see their taxes actually increase. It sounds like the joint committee on taxation worked incredibly hard to get this analysis out in time but weve not seen the same rigorous analysis out of this bill that you would expect, do you they did know the deadline. What the other big take away were seeing here is how much political will republicans had to get this on Donald Trumps desk before the year end that filtered back to nonpartisan agency to develop this analysis. I guess the question there is in your assessment is this all about getting a win in terms of legislation or is this really about trying to boost the economy at this stage . I think its both the republicans believe this will drive Economic Growth the hope is that cutting corporate taxes companies will reinvest, perhaps they will build new jobs and that will drive Economic Growth. At the same time they were looking for a legislative victory here after the obamacare efforts. President trump is happy about this going into next year is it important for members of congress to have a legislative win to take back to their con still the two wechb constituents to say look what weve done. Absolutely. They need a spending package before it expires on friday. They want to take the momentum in 2018 and identify a key legislative victory that they can point to and say when we go home, we should be reelected and continue. Do you think this is likely to hurt or to harm Congressional Republicans chances on these mid terms . Well, i think one of the key issues we need to remember is we dont actually know where the bill is going to land. As they said, congress the two have very different bills at this moment that theyre going to need to reconcile before they can get it to the president s desk we have to see where the bill lands before we can have a closer idea of how this is going to impact the mid term. Stay there. I want to bring news on north korea. The white house and National Security adviser colonel mcmaster has given a stark warning. The greatest immediate threat to the United States and to the world is the threat posed by the rogue regime in north korea and his continued efforts to develop a long range nuclear capability. And so its immensely important that we Work Together with all of our allies, partners, everyone internationally to convince kim jongun that the continued pursuit of these capabilities is a dead end for him and his regime. The u. S. And south korean militaries have performed ariel drills lindsay, what i want to ask you about is the u. S. State department weve heard a lot of noises about secretary Rex Tillerson leaving his job. Theres a lot of complaints about the way the department is being run and the future of diplomacy in the u. S i want to ask, when we hear that from the National Security adviser, does it feel like the u. S. State department is able to fulfill its mandate . This is a fastmoving story obviously. What weve seen recently is allegations is suggestions that Rex Tillerson is on his way out and the cia director i going to step in trump has since said that is not the case so were still watching to see where this is going to land over the years weve seen the mandate has sort of been si sidelined to the Defense Department we were expecting north korea to carry out some sort of missile test before the end of the year so this was not a surprise this is something that we were watching and certainly the u. S. Responds with joint activity with north korea is not a surprise. Youre hearing these voices saying again and again we are getting closer and closer to conflict and then youre hearing our diplomats dont have all the tools they need. Theyre going to switch towards a militarized approach versus diplomatic approach. Do you think thats a good one . Lindsay, thank you so much for joining us from ihs market. Dont forget to email the show your views on all of this. You can also tweet us, follow us on twitter street signs cnbc or tweet me directly a at willemmarx how gold has been introduced as a Digital Currency next. My friend susie cracks me up. But one laugh, and hello sensitive bladder. Ring a bell . Then you have to try always discreet. I didnt think protection this thin could work. But the super absorbent core turns liquid to gel. For incredible protection. Thats surprisingly thin. So its out of sight. And out of mind. Always discreet. For bladder leaks. Also in liners. Signs. Dialog shares have dropped warning that one of its biggest customers, apple, could be working on its own power chip. It saw no reason to alter its 2018 expectations. Meanwhile, same with apple tim cook says developers in china have earned nearly 17 billion thats roughly 1 4 of all global App Store Earnings tim cook shared the information. Apple faced criticism from a rights group including vpn Services Apple is hoping to gain back market share in china after losing shares to local hand set makers in recent years now its been a volatile weekend for trading for bitcoin. The crypto currency is back up over 11,000 trading just below its alltime high. It rallied last week before a sharp, sharp, sharp drop took it back below 10,000. On friday the Commodities Future Trading Commission green lighted a plan to introduce bitcoin, futures, claiming it has stormed wall street. Meanwhile, in venezuela a number of countries including venezuela have band crypto currencies. A number of countries are band from currencies. One nation has launched its own which is venezuela president nicolas maine ndur row just unveiled one. He offered few Technical Details but he said the crypto currency would be backed by oil and diamond reserve. Some turn to the crypto currency off of this. Its nearly 60 . To talk about this, im joined by natasha thanks very much for joining us this morning. Thank you. I want to ask you about Government Action and bitcoin. Is that an existential threat . I think it very much is i think governments need to control the amount of money in circulation and if they cant control that, if its a crypto currency whose supply is actually insured by another body not known by the government, then thats a problem. One of the reasons the governments want to control their currency is they want to conduct monetary policy. They want to print money in case they run out of cash to pay sovereign debt. You obviously have a better understanding than i do of the bubble market. Every time i hear about bitcoin its wildly swinging in one direction or another, most of the time up. People are excited about the opportunity they see whats your vice based on the hierarchy markets . So on the one hand we might want to say that bitcoin is very unique in a sense that it hasnt been seen in the past at all so in the past there has been bubbles, for example, the dotcom bubble or the 1920s bubble, but when we have seen these bubbles usually the main increase was in the past year or so or the past few months, whereas, with bitcoin what weve seen here and its very unusual, really longterm increase increase by about 30,000 times the past 11 sorry, six years, which is completely unusual and unheard of to some extent some say its not bubble like. But on the other hand, the problem is that it might not be sustainable. One of the reasons its not sustainable is besides the more useful it becomes, the more widely spread, the more the governments want to rein this in and make it much more difficult for you to use bitcoin because they want to control the currency. It gets to the philosophical question of what is the value of any currency if you hold the u. S. Dollar in your hand or british pound in your hand or piece of gold in your hand, what does it buy you in terms of your value in terms of Intrinsic Value is there Intrinsic Value of bitcoin . I think there is some Intrinsic Value to bitcoin its not the same as the euro and the dollars. Theyre very important as a means of exchange. Backed up by the government which means people trust it. With bitcoin slightly different. Its Intrinsic Value has to do with the fact that it can be traded anonymously very useful in the fact that drug dealers can use it. So thats an Intrinsic Value theres always going to be that Intrinsic Value. However, i dont think that has more Intrinsic Value than that it will never become a widespread exchange. At the core of that is it makes a lot of opaque Market Action difficult with the value. Final question, is there a longterm problem for bitcoin do you think . I think there is a longterm problem for bitcoin despite that a government will not back this up, they will, however, find the Technology Behind bitcoin interesting. Its interesting to help trade even though government could actually make it nonanonymous. I dont think they they will make it their own currency. You think the technology is here to stay but bitcoin is not . Thats right. Thank you very much from the lfe. Lets stick with bit cocoin here people hearing about warnings of bitcoin bubble thats not stopping Business School students from getting in on the action. My colleague seema modi has the story. Reporter a growing number of students are saying no to traditional finance rules and are increasingly looking to block chain and crypto currency for opportunities. Quite a large number of students in the class who ive seen come from private equity heck fun hedge funds, have foregone the chance to go back that traditional path and looking at how that simmers themselves. Reporter earlier robby mitchnick and other classmates wrote a letter requesting block chain class be taught. Stanford responded the first class will be taught in the spring of 2018. A similar story is playing out across the country at harvard Business School. Colleagues in finance, entrepreneurship, strategy, technology and operations all thinking about, you know, how do we think about the blockchain and the set of questions it raises in our disciplines and a demand from students. As students prepare to enter the corporate world, data shows that employers interest in blockchain experience is rising. Upward said blockchain was the second largest skill in the quarter over 5,000 classes as demand grows, Business School students across the nation are launching blockchain clubs to learn, collaborate and connect with likeminded individuals students are now approaching the critical recruiting season which kicks off in early january it will serve as a real world indicator as to whether students can land a job that utilizes blockchain technologies. Some say this field offers more promise long term than a traditional role in finance. My immediate goal is to be a blockchain integrator or venture Fund Investing in blockchain companies. Im looking at the technology space. Blockchain is something im looking at keenly mostly because i think as the next wave of disruption. In the next 20 years theres going to be a whole host of applications that we cant even think of today. Reporter still some Business School students are first playing it safe saying theyre skeptical about the rice and the hype the lack of regulations. Everyone is looking for the popular trends they want to go to more blockchain, bitcoin type because its a sort of its a different risk return profile. Higher up side im still a stocks guy but i think i look more at the fundamentals. But wharton Business School professor kevin buck says this will prove to be indispensable. I think of blockchain as the internet 20 years ago. Well look back and it will be hard to talk about any company of any size, really any company at all that doesnt have some application of blockchain technology. Reporter for cnbc business news, im seema modi in philadelphia. Internet seems like blockchain is the part of the future that will remain according to our guest and seema modis reporting there lets take a quick look at u. S. Futures before we go over to the other side of the atlantic implied open is up 14 points s p 500 just under 200 at the dow jones and 24. 184 the nasdaq pulling back very slightly over the past couple of hours. Still looks like a very, very strong open base on that Senate Tax Reform plan that seems to be passed over the weekend. Obviously reconciliation that is it for todays show. I am willem marx Worldwide Exchange is up next. news anchor downtown traffic is still bad. Expect massive delays. radio channel changing news anchor 2 all lanes on highway 50 remain closed at this hour. news anchor 3 the stats are in and this city leads with some of the worst traffic, with the average driver sitting in gridlock the equivalent of three days a year. For every hour that youre idling in your car, youre sending about half a gallon of gasoline up in the air. That amounts, over the course of the week, to about 10 pounds of carbon dioxide. Growth is good, but when it starts impacting our quality of air and quality of life, thats a problem. So forwardthinking cities like sacramento are investing in streets that are smarter and greener. The solution was right under our feet. Asphalt. Or to be more precise, intelligent asphalt. By embedding sensors into the pavement, as well as installing cameras on traffic lights, we will be able to study and analyze the flow of traffic. Then, we will take all of that data and we use it to optimize the timing of lights, so that traffic flows easier and travel times are shorter. And sacramento is just the beginning. With advances in cameras, sensors, and network speeds, we have the ability to make cities smarter, and happier. What excites me about this technology is that were using some of the most cuttingedge machinelearning, and ai, to help solve the most fundamental challenges that cities face around the world. Who knew asphalt could help save the environment . lani and the possibilities are endless. Witness katy perry. Witness katy perry become a legal witness. Witness katy perry and left shark. Or a card shark. Grandma . Witness katy perry work. Witness katy perry firework. Witness katy perry swish. Witness katy perry. Aaaaaaw look at that dog katy perry with music videos and behind the scenes footage, xfinity lets you witness all things me. Market alert u. S. Secretary futures soaring as they cheer tax reform. Breaking deal news cvs health is buying aetna for 69 billion. Plus, wild swings in bitcoin. The Digital Currency rebounding from a 20 plunge to hit another record high this morning its monday, december 4th, 2017, and Worldwide Exchange begins right now. Good morning very warm welcome to Worldwide Exchange. Im wilfred frost. And im seema