Impeached after the house approves the charges against him. They have nothing they are the ones that should be impeached, every one of them sweden Central Banks hikes rates to 5 putting an end to five years of policy despite a slow down. The bank of england is expected to stand pat as the queen prepares to layout the government agenda for the second time at the state opening of parliament and a 1 billion pay out to Share Holders as the swiss chemical maker sells the unit for more than expected good morning and welcome to the show our top story today. Donald trump has become the third u. S. President to be impeached. The house passed two articles against him with votes falling largely along the party lines. Charged with abuse of pour and obstruction of congress, President Trump is expected to face a senate trial early next year but not before leaders square off to set the terms of the proceedings. Tonight, donald j. Trump becoming the third american president to be impeached. Article one is adopted. Nearly every democrat voting for two articles abuse of power andobstruction of congress. A great day for the constitution of the United States a sad one for america. It gives us no pleasure to stand here yesterday but mr. Trumps conduct has put our next election at risk the president shared the results with supporters in michigan where hes campaigning for a second term. We didnt lose one republican vote denying the black mark on legacy crazy Nancy PelosisHouse Democrats have branded themselves with an eternal mark of shame it is a disgrace republicans going down fighting democrats insisting the vote was their constitutional duty and that they are safe guarding the future when you see something that is not right, not just, not fair, you have a moral obligation to Say Something and do something the final house vote recorded the final say lands with the Republican Controlled Senate eager to begin the next chapter. Speaker pelosi hinted she might not immediately send the articles over to the senate that could derail the plans for a quick trial and cquittal an capitol hill, for nbc news. A historic day. Live with tracie potts at 10 50 cet. President trumps impeachment could be seen as a grey swan event. Our next guest has identified several of these if the u. S. Continues cap controls and apple going disney. Those are some of the great things to watch for next year. Can i start out asking what the difference is between a black swan and a grey swan black is more extreme like no one was expecting it at all. It is a complete surprise. Whereas a grey swan is something we can imagine but a low probability. Lets start with the latest developments out of the u. S. , the first stage of the impeachment process. How much of a grey swan do you see that for 2020 . At the moment, the market thinks that trump has been impeached but he wont be convicted in the senate. The grey swan would be if he was convicted. We dont think that is likely. The senate is majority republican certainly, thats the way the market is behaving it is as if the s p and the dow arent watching what is happening. Equally, we have an election coming up as well. How do you think that will factor in into potential risk that could pop up. I get the sense that people are getting complacent about the risk out there that is true. With the u. S. Election, the campaign is going earlier and earlier. They are beaten down by the coverage as we get close to the election, it will be a major event it is positive because hes more probusiness assuming he doesnt pick a fight with china on the way. It depends on who the democrats are that pick. Warren and sanders, the market would view that as negative. Biden bid bid Biden Buttigieg would not so much already we have a trade war between the u. S. Where us is focusing on trade between u. S. And china. The strongest asset the u. S. Has is the intellectual asset. Chinese companies are buying u. S. Companies the u. S. Could say hang on, we are not going to see that anymore. We saw that with qualcomm earlier. Right and the Chinese Company that owned grinder, the dating app. We could see a more extreme move where the u. S. Could see more as the u. S. Would have to stop. Seen as a cold war between u. S. And china where they wont accept anymore certainly, the way tech has performed this year. One other market grey swan is of japan intervening in the market. That could be significant shift as well. This morning, we have the rate hikes from negative to zero. Many banks have realized that negative rates are not as much as they would like. Yes what weve learned is that zero rates, it doesnt have the same impact as in the middle of a crisis as in japan, they have raise the sales tax. The question is what can it do wup thing that has worked is for the scope of what you have seen. Something else to watch out for. Well pick up the conversation and talk more about the grey swan. This is the footage of the russian president putin live hes about to deliver his christmas address. There is a translation lets listen in. Translator what do you think would be the consequence and the impact for russia . What Climate Change bares for russia and another thing, this year, the Russian Federation joined the climate deal. According to 2013, the emissions from our country should be curbed to 2530 in the conference, do you imagine well be able to cut them by 60 . Was this a slip of the tongue or a mistake . All right you got me here. We have joined paris climate deal announced even before so, now, it was institutionally, properly organized now, the number 2530 from what . From the base level that is 1990 they use that as a base level and Reference Point. All right. How do i get out of this blunder. All right. Lets use minus 30 as the zero point, the Reference Point we can then use the absorbon capacity of our forest that is what i meant to say. Russia is not the biggest polluter that is the end of Year Press Conference and fielding questions about Climate Change being questioned about the very aggressive targets they spelled out a short while ago. Well continue to monitor and bring you any flashes. Stay with us, because coming up, the bank of england is widely expected to hold rates steady capping a day of Many Central Bank decisions in europe also still to come, getting to know the man behind the mask actor Antonio Bandaras opening up about somhi cseo s art. Etnglo thi onpharmacistrecommended memory support brand. You can find it in the vitamin aisle in stores everywhere. Prevagen. Healthier brain. Better life. Think you need to buy expensive skincare products to see dramatic results . Try olay skin care. Just one jar of microsculpting cream has the hydrating power of 5 jars of a prestige cream, which helps plump skin cells and visibly smooth wrinkles. While new olay retinol24 provides visibly smoother, brighter skin. For dramatic skincare results, try olay. And complete your routine with the olay eye collection. Brand power. Helping you buy better. Here, it all starts withello hi . How can i help . A data plan for everyone. Everyone . Everyone. Lets send to everyone wifi up there . Uhh. Sure, why not . Howd he get out . a camera might figure it out. That was easy glad i could help. At xfinity, were here to make life simple. Easy. Awesome. So come ask, shop, discover at your local xfinity store today. Welcome back to street signs. Lets take a look at how markets are fairing. We are definitely headed towards holiday thinning you can see some what muted gains for the majors the dax in germany the only trading under water at about. 10 a percentage point we have retail numbers coming up bank of england at 12 00 not expected to do anything on the Monetary Policy side of things we had two decenters last time so watch out for that. And chips in the uk and domestic stocks did very well after the general election outcome last friday and monday. They lost grounds as some optimism fizzled out that is a picture for the uk we have the queens speech to watch out for later today as well how about the pound, i mentioned how post the exit poll last thursday it is been a full round trip around the last seven days or so. Slightly firmer. Not so much the case for volatility if you look at what has been happening and has collapsed over the last couple of days. Let me take you to some company news, clariant has sold a unit for 1. 6 billion the sale came about after they failed to combine the unit with a speciality unity they lplan to return about 1 billion back to stockholders moving to retail, hugo boss shares have fallen after Deutsche Bank cuts it from a hold to a buy. Risk turning into a value trap Deutsche Bank warns on the companys u. S. Business and said the turn around may take longer than expected. Riksbank ended a fiveyear rate it will stay unchanged allowing for moves in either direction depending on the data. Two of the banks governors expect reservations as it comes a bid slowing growth that comes as no surprise to the market significant that they are ending the experiment with negative Interest Rates speaking of other Central Banks, risks are lowered but remain high according to japans central governor as he explains the decision to maintain the rates. Continued expansion but warned for the drop in production due to natural disasters and the continuing fall out from trade war tensions speaking of another central bank, new york fed president said the decision to hold rates in last weeks policy meeting was the right call adding that there would have to be an outlook to end policy adjustment rate cuts this year, we created a situation where the policy is accommodative and supporting growth. I think that is a good position for what is going on in the economy. According to what would cause the change, it would begin a material change. I cant point to one or two things in particular i would point to the idea that unemployment would remain a possibility. I want to see the inflation rate moving back to our 2 goal on the sustained basis. Those are the things im really focused. Is it a policy now to allow inflation to overshoot for some period of time to make sure we achieve our 2 sem etry kl we want to be around 2 depending on economic circumstances. Really seeing this notion, we are on average around 2 inflation. Sometimes above, sometimes below. Thats what i think the word means. The recent rate cuts described as insurance cuts. You took those cuts back are these the kind of cuts you think youll take back there are the risks and uncertainties and Global DevelopmentsGlobal Growth has slowed some of those risks have turned into reality we have seen downgrades from the imf and others those are things that have shifted under the landscape we are operating under. I dont see those shifting anytime soon in the developments and uncertainties, i dont have any preskiks abo p prediction about reversing where we have the Monetary Policy is in the right place supportive of the goals. The bank of england is seen staying on hold after the general election eased political uncertainty. The governor may face decent from two members regarding lowering rates james, two dissenters last time around you mention those two, i think well get that again you look at the last statement, i think they are still in wait and see mode when you look at next year, are they going to get a rate cut they are not quite there yet it depends on the jobs market. One thing the bank of england has been saying a long time is that there has been significant dr dropoff on uncertainty how unlikely is that it comes back in given yet again we may be faced with another cliff exit at the end of the year im weary we might get an increase it is all down to the uncertainty in transition period that move to enshrine the 2020 deadline means well miss the eu extension. That means well have a lot of uncertainty. Will there le another cliff edge will Boris Johnson be happy with the compromise talk. Talking about your grey swan. One of those for the uk is the real risk of a recession what are you monitoring in terms of the data that would give a strong signal and recession inside we havent had a recession for a long time in the uk seeing the deterioration of the labor market, also an external factor as well. Europe is weak and if it weakens further. All of those factors could tip it over. Bringing it back to james the weakness in manufacturing, some of that is brexit other external factors as well sub 50 certainly to allow points, there are a few points there if you look at the Service Sector too, that is lacking as well new orders have been suggested for a long time. That begins translating to further hiring weakness there has been mentions or at least not replacing people that are leaving. If that deteriorates further, that really holds the key as to whether they decide to ease policy one another development is perhaps not market moving but that we should get a replacement for carney in the next couple of days do you have any thoughts on how policy could change or communication could change with a new governor i think on a policy, it is always hard to discern will they be a hawk or a dove and will other members lead over the coming years because they did not get the top job themselves it is just generally waiting to see the data you mentioned it the communication style. It is how those press conferences and those things change the possibility of a pension shock namely because pensions in the uk are so low, it has amplified this issue of pension funding. Absolutely. One of the reasons i flagged this as a risk is because of the strike in the uk already academics in uk are on strike because Interest Rates are so, so low you have to remember around 40 of the population of the uk is above the age of 50 of course, many of them voted for the conservative party and this is a challenge for the bank of england. You create a pension problem which one do you optimize for . There is one positive grace for next year. England winning 2020 i have to put a positive face on england could win the world cup. We have some really good players. Larry king and arnold. Thank you for joining us. James smith developed markets for ing and founder and ceo of macrohigh. Make sure you join me for the decision time in a couple hours time well be right back. Do you have concerns about mild memory loss related to aging . Prevagen is the number one pharmacistrecommended memory support brand. You can find it in the vitamin aisle in stores everywhere. Prevagen. Healthier brain. Better life. Welcome to street signs. Im Joumanna Bercetche these are your headlines global stocks are unphased after donald trump becomes the third u. S. President to be impeached after the house charges him with abuse of power and obstruction of congress. They have nothing they are the ones who should be impeached. Negative end despite the slow down in their economy the bank of england is expected to stand pat while the queen plans to layout the government agenda for the second time in month months at the state opening of parliament. And clariant, the swiss chemical maker sells a unit for more than expected snoeanother data series. Uk november sales come at 1 year in year versus the october number up 3. 1 this is after going in at 2. 1 the core number has also come in with a negative number 0 and s has shown no growth for four months for the First Time Since the series began in 1996 so really a bismal number. Also a very big drop that can play into the effects in october. We were heading into the october 31 deadline. We saw some give back of that in november certainly a weak picture for retail sales where we were below the drop lets talk about some other currencies sterling has been dropping and done a round trip since the election and since the polls came outlast thursday. Those weak Sales Numbers not helping. We have the bank of england coming up. Look for dissenters coming out euro around 1. 1130 we are looking at weaker dollar. We have some weakness. Vienna is trading weaker versus the u. S. Dollar. Swiss frank slightly weaker versus the u. S. Dollar as well as for uk equity markets, we are getting close to holiday vibes the dax trading slightly under water. About. 10 a percentage point. Cac and ftse mib flattish after a roller coaster session for the european markets most of these indices are up north of 40 so it has been a very strong year compared to other stock markets as well. The big story of the night is that the u. S. President has been impeached by the house only the third president in history having done so we saw very little reaction on wall street. Almost completely shrugging off the news it looks like those three majors will be seen opening in positive territory. Dow up and s p up about four points higher. The queen will return to parliament to set out the prime ministers agenda. Boris johnson will focus on delivering brexit and extra health spending. Could be less pomp and ceremony as the occasion comes just two months after the last speech in the trade war news, chinas finance minister has published a fresh list of goods. They are all chemicals the exceptions will be in effect until december 25, 2020. So a full 12 months away from now. Shares in micron jumped after reporting a First Quarter beat on earnings and revenue. It expects to see performance recover after the bottom in the Second Quarter lets take a quick look at how european makers are reacting we have main chip makers trading side ways. Josh lipton has more on the micron story micron is the largest u. S. Maker of memory chips. Reporting 48 cents on 5. 01 billion. The street was looking at 30 scents looking ahead, micron expects q 2 of 36 cents and revenue of 4. 5 or 4. 8 billion saying with strong execution and improving conditions, he is optimistic that the Second Quarter will be the bottom of the performance. The stock had already skyrocketed up nearly 70 as investors had bet memory prices had bottomed and thanks to the 5g roll out and big cloud players spending more. The micron bull to get a quick take on the report he said a very good report guidance suggests margins buying higher which means inventory levels marginalizing elsewhere, nike earnings are expected to sprint higher when they report sports wear after the Second Quarter will close. Keeping up tensions getting out to the Equity Research looking at nike stock. The stock is up more than 40 . Before we talk about todays earnings, what do you point the strength back to for nike. They are in a strong place as they launch into 2017. Theyve been in a sweet spot when you look at the market. It is between them globally. Planning to move in the cycle between the two. That innovation into the market done very well the brand is in a great place boycotts nike as a brand and q 1 as to 20 growth are we not going to see any signs well show the negative impact and the tariffs that could be applied to their tariffs q 2 will see a more pronounced to the impact. For all the sources in asia, less than 25 are trying to mitigate the head wind moving more sourcing away from china to markets like vietnam and cambodia they will have to absorb more head winds over the next few quarters, q 1 being pricing. I expect theyll be able to adjust pricing slightly higher there is a new ceo coming in in january are you expecting a new strategy out of him no. John dohas been on the board fo five years i think he may increase the digital side he used to work for ebay and pay pal. There will be an increasing focus on line. Making acquisitions as well the brands will never be any m a, a lot of sports brands. That will be important going forward. You mentioned as well there may be more of a pricing point not just exclusive to nike adding in puma are they focusing more selling directly to the consumer rather than going through wholesalers essentially nike and the brand are disrupting the whole industry by this move. If you directly have a touch point to consumer, you get a lot more in the sale that will help drive the repeat purchase getting the data for the repeat going forward. Thank you for joining us on street signs. The vice press of Equity Research an advisor to the eus top court issued an opinion on the legality of tools used to sub set data i want to bring you the flashes we got on this important facebook case. The case pitting facebook against the activist saying standard contractual clauses offer sufficient protection. Parse through the language for us thats right. Lets set out for exactly what this is all about. Data is transferred from the eu countries to other countries, either the us outside the block. There are a number of ways to handle that. There is a data agreement known. Youve got all of these other methods known as standard contractual clauses. These are ways or rules in which data can move from the eu to outside. Can you imagine how Many Companies can face cross border outside the eu Companies Using email service outside for example. The court of justice has said that those standard clauses, those rules are in fact valid and okay despite some of the concerns raised by this. They are taking facebook side in this one . Yes they are saying current rules are okay if they had said those standard contractual rules are not valid, those would have implications. It would Mean Companies would have to figure out how to move data outside the eu. That would make them fall foul outside of the other rules the general Data Protection regulation as well if this had gone the other way, there would be wideranging information. I think people dont realize that this isnt just about facebook but other companies that use computing and they operate both sides and they need to transfer that information todays ruling says that the Contract Clauses do offer sufficient protection. They do. No need for new rules. This is an opinion, the ecj will come out and they usually follow the advise of their advisor. They have to wait and see for the final decision this is a none binding opinion at the moment. Thank you very much also coming up on street signs, a big Hollywood Star opens up about one of his closest friends as oscar buzz swirlings. Do you have concerns about mild memory loss related to aging . Prevagen is the number one pharmacistrecommended memory support brand. You can find it in the vitamin aisle in stores everywhere. Prevagen. Healthier brain. Better life. My mom washes the dishes. Before she puts them in the dishwasher. So what does the dishwasher do . Cascade platinum does the work for you, prewashing and removing stuckon foods, the first time. Wow, thats clean cascade platinum. Is how many times carson has beat cancer. Yup but carson is alive today thanks to a breakthrough treatment pioneered at st. Jude. One that we shared freely to help save kids near you. St. Jude is on a mission to cure childhood cancer. Four. Ever. High five give thanks for the healthy kids in your life, and give to those who are not. Donate now at st. Jude dot org or shop wherever you see the st. Jude logo. [ drathis holiday. Ahhhhh ahhhhh a distant friend returns. Elliott. You came back and while lots of things have changed. Wooooah woah its called the internet. Some things havent. Get ready for a reunion 3 million light years in the making. Woohoo yeah welcome back to street signs. One of hollywoods biggest stars may soon be nominated. He says it is all thanks to a longtime friend our very own tanya breyer. You sat down with him. I did very lucky people still associate him with the older movies he did puss and boots. Of course it seems like hes taken on more complex roles where hes getting all of the attention recently. Youve seen it and loved it it is full circle, joumanna. It is based on pedro, himself. He plays a director in the film. It is a pedro film pedro is the one that discovered antonio on the verge of a nervous break down back in his early days and itwas pedro tha was responsible for antonio becoming the big star he is. It is so interesting when i sat down with him in malaga, saying when i first went to hollywood, i couldnt speak english. He was told at the time that a latino actor would never be a leading man. Then he got mask of zero. He goes back all of the time and has such a love for his home city pain and glory has been getting a lot of attention he won awards at cannes. It has been shortlisted for an oscar. I asked him what he felt about the nominating success is very sweet you can have success in many different ways now to have it with the person i started making movies 40 years ago to the person i have done eight movies with, performing him. My character is my director. The person saying action and cut. It was an extraordinary experience it is like closing the circle which at the time is what pain and glory is about it is about coming full circle yourself and forgiveness coming to terms with yourself and with life. Another role you have nominated as the other most famous son, picaso. When you were a young boy, your mother would walk you to school and you would pass picas os home it was extraordinary to feel there was somebody from your town at the time we didnt have heroes spain didnt have International Heroes how hes so famous internationally. A painter. Somebody from my home town they offered to me several times to play him. I sulz aide no i was afraid of misrepresenting him. He has great humility he says, im afraid to take on that character and he said he was afraid to do that. He was performing in a chore us line. He said he gets scared every day before going on. He has to calm himself down which is extraordinary and this is his first nomination if he does get it yes really, hes fantastic in the film watching for the latest you can catch the show tonight at 23 00 cet more to be revealed. Thank you for bringing a touch of glamour to our own set as well moving on, donald trump has become the third u. S. President in history to be impeached passing two articles abuse of power with votes largely falling along party lines. Expecting to stand trial in the Senate Making him the first u. S. President ever to face impeachment and reelection in the same year. Tracie potts joins us live monitoring all of the developments as signaled he has been officially impeached by the house they are saying it is very unlikely he is impeached by the senate as well how has this affected the overall polling . Even though there is very little chance of it going all the way it is very unlikely that he will be cleared by the senate, which is run by republicans. What will happen between now and then could be very interesting and could have an impact on the election so President Trump has been impeached on two articles, obstruction of congress and abuse of power the way this works, those articles or charges have to be transferred or sent to the senate to begin the process of setting up a trial you cant try him on something that they have received. Last night, nancy pelosi through them a curveball and said they could not send them the articles everything she is hearing, the republican in charge, Mitch Mcconnell is working hard. Not working so closely with the democrats after rejecting the request. He came out publicly and said, i am not impart al ial on this, wh is what the constitution requires him to be in order to run this trial so nancy pelosi in a bit of a surprise after the vote here came out and said i wont send over these articles until they guarantee a fair trial it is a bit of a negotiating piece to try and get democrats some of the things that they are asking for well see how long she holds up on that and where this goes. We see from the republican standpoint and solidarity within the Republican Party has been high with the hearings going on. What exactly are the democrats asking for clearly, from a republican standpoint, they would want this whole thing to be wrapped up quickly. Are dems just looking to buy time here . Or more out of the potential senate trial what they want are some of the top aids from the white house to testify in the senate trial. Republicans are saying, look, weve heard all of the testimony we need to hear. Some publicly have said ive already made up my mind. This becomes is this a trial with new witnesses and evidence or do you have one side summarize, the other side summarize and ask for votes based on that. Democrats have specifically asked for the white house chief of staff and the former National Security advisor it is not clear that that is going to happen. It is not clear that will happen over the next few weeks thank you for the latest development out of washington. The historic day a quick look at u. S. Futures and how they are opening up today. All three majors are opening up in the green shrugging off the impeachment news over the last 24 hours. I am Joumanna Bercetche. Worldwide exchange is about to start in just a few moments. It is 5 00 a. M. At cnbc global headquarters. The house voting along party lines to impeach President Trump. China extending a trade war olive branch to u. S. Exporters as officials remain mum on phase one trade details. President trump making an unexpected phone call to boeing ceo hour before the company paused productio