Boise, potato ships . No, computer chips welcome to squawk alley. I am jon fortt with me at post nine, Morgan Brennan and david faber. Carl quintanilla hat morning off. Another busy morning in washington the house of representatives has another big vote on the trade front, expecting to pass usmca, the replacement for nafta, on the heels of approving two articles of impeachment against President Trump last night Kayla Tausche joins us with more reporter the vote will be a stark contrast to the Party Line Vote on impeachment. On the house floor on capitol hill, two hours of debate is beginning that will tee up a vote that white house officials expect to be a landslide bipartisan vote, thanks largely because of provisions folded in to win over House Democrats by Bob Lighthizer last hour on cnbc, the treasury secretary said it should be seen as a win for the economy, not a win for House Speaker nancy pelosi were going to get in excess of 50 basis points of additional growth in gdp as a result of this agreement people who say this is just nafta 2. 0 just dont understand the technicalities of the agreement. This is a whole new agreement that really brings the trading relationship into the modern era. Reporter among changes that effect business, higher wages for mexican factory workers that democrats and unions say will Keep Companies here from outsourcing more jobs to mexico. The result will be higher tariffs, largely for Auto Companies who are choosing to make more parts overseas and pay the tariffs at the border to come in rather than source parts within the stricter content guidelines under the new deal. The congressional budget office, nonpartisan arbiter an estimator of deals says that roughly 3 billion in new tariff revenue will be the result from the united states, largely because of the dynamic i just described. Senator pat toomey from pennsylvania says thats one of the consequences he doesnt like about the deal, one reason he is not voting for it. Every trade agreement weve done has been designed to expand trade. This one is designed to go in the opposite direction the good news is its impact will be very modest, right . The detrimental ones are in auto the net effect is a little lost growth, marginal mostly im concerned this not be a precedent or template for future trade agreements, then that would be a clear step away from free trade, toward protectionism. Reporter he believes it will cost growth and gdp will expand. Republicans will have their say early next year when the senate takes it up. The house vote today is expected in a few hours we know youll be watching for it, thank you for bringing us the latest. Treasury secretary Steven Mnuchin dismissing the house rebuke, saying impeachment wont hurt trumps economic agenda it has been a terrific end of the year for the president s economic programs. Were looking forward to usmca being passed, china phase one agreement, and approval and passage of the appropriations bill which is very important to our military and has lots of important policy wins for the president. Joining us, chief Investment Officer jim wall, and david will he have cowits we have seen the legislation push coming into the final weeks of the year, despite impeachment now. When you have the House Speaker come out and say she will delay sending impeachment charges to the senate, how much risk does that become to more law making going into 2020 . May be a risk to law making but not yet a risk to the market in fact, the impeachment process so far has been obviously political but not a market event. The market focused squarely on the fed in its corner, good slow growth, not no growth, economic trajectory, health of the u. S. Consumer in terms of being fully employed, reasonably good savings levels, good household debt, enabling them to spend more as the driver of our economy, one key take away investors will be able to take with them into what we expect to be a fairly politically charged 2020. David, when it comes to trade, whether it is usmca moving through congress right now, whether it is this phase one trade deal with china thats in the final text expected to be signed the next couple weeks. Some of the movement in markets, for example, u. S. Stocks measured by the s p era, about 7 since september 30th. Some of that move is reflective of progress on the trade front the other thing happening is theres more confidence the Global Manufacturing soft patch thats been the story all year is looked like it is bottoming, should improve in 2020 a couple things driving the markets the last couple months but i dont think all of the up side is priced in. If we get a final trade agreement signed with china and see recovery in the soft patch i was talking about, yeah, we could see u. S. Markets continue to grind higher, another 5, 6, 7 in the next several months. Jim, looking at what you like in 2020, you say blue chip dividend growers, mid and small cap value. Sounds like youre cautious, given the type of year we had this year. Why the caution . I think it is only prudent to be cautious after not just this years spectacular run in the s p and dow, also the bull run we have been on. That said, we think there are plenty of opportunities globally speaking in small to midcap value range, overseas, established foreign markets, maybe somewhat in emerging markets. We dont want to give up on battleship balance sheet, blue chip dividend growers, any more than we give up on health care in fact, likely to add to that position on politically motivated dip. We expect to see dips material az with regard to Health Care Getting into the Election Year of 2020. David, put the same question to you what do you like now, what would you avoid heading to 2020 . From a sector perspective, two sectors that look appealing to us are Consumer Discretionary and Communication Services so Consumer Discretionary we were mentioning the u. S. Consumer is healthy, we fully agree. That should support that sector, plus a beneficiary of commerce within Communication Services, i think theres opportunity to ride the secular growth in Internet Companies that are trading at fairly low valuations, and some Media Companies pivoting to some of the new higher growth areas. We are underweight at tech and energy, tech for high valuations, energy because we have adequate supplies of energy, especially oil and also point out, emerging markets is an area we upgraded if we see improvement in the Global Economic backdrop, emerging market should be a key beneficiary. David, parse that for us. When a lot of people think tech, theyre probably thinking names that you put in other categories you say youre underweight tech, what does it not include people think of, and what does it include . Sure. It is a good point within tech were not the sectors got reshuffled google, facebook, Internet Companies are in the Communication Services sector. Thats an area we like tech is really the apple and software companies, microsoft being the biggest, and Semiconductor Sector thats where we see pretty high valuations, certainly highest relative to the market in about 11 years that gives us a little caution theres no Earnings Growth in tech this year, despite the fact that that sector is up over 45 . Think valuations are a little elevated all right, gentlemen. Thanks for joining us. Jim and david, as markets move higher, the s p hitting a fresh record inter day high. When we come back, heres the worst of the inventory micron shares are up, after the Company Reported its results were going to speak exclusively with the ceo. Plus, breaking up with barry. Match group splitting from iac squawk alley is back after this [maniacal laughter] gold. Gold right, uh. Thank you, for that, bob. But i think its time we go with gbtc. Its bitcoin exposure through a traditional investment account. Nice rock. Its time to drop gold. Go digital. Go grayscale. And when you open a new brokerage account, your cash is automatically invested at a great rate. Thats why fidelity leads the industry in value while our competition continues to talk. Talk, talk frmts shares of micron are popping, up better than 3 on strong earnings. The chip maker trading at levels not seen since july, 2018. They said they reached a bottom of the period for chips with some concerns ahead. Joining us, sanjay mehrotra. Good morning good morning, jon good to be on your shows. Great to have you back. Theres a lot to look forward to in 2020, and i guess thats part of whats got people excited layout whats going to happen, not just with 5g phones which you argue are going to have more or are going to need more of your chips even at the low end, also with gaming consoles launching at the end of the year that is right jon, 5g phones, even the 300 phones that have been announced have 6 gig bite of content in them, on an average, 5g phones that have been announced in totality have average of, you know, 8 gig bite of ram and 200 gig bites of nan content the features it is offering, faster download speed, vr, ar, ai, fast capability is a driver for content for multiple years to come. Next year we expect 200,000,005g smart phones to be sold worldwide. And they would be driving Significant Growth in content. And new gaming consoles actually are displacing hard disk drives with solid state drives. So our industry that multiple growth drivers, and micron certainly is expanding its Product Portfolio and absolutely driving. Thats what were excited about for 2020. Thats good news. One of the potential head winds is customers in China Building inventory the end of the year. When will investors know how much drag that will be in the first half of 2020 i will tell you some china customers may have built as a result of trade tensions, may be carrying levels of inventory, may have made strategic decision to carry higher levels of inventory perhaps. Of course, we do not have total visibility into their inventory strategy practices what i will tell you is we observe buying patterns of those customers and inventory there would be much less than inventory we had seen in 2018 when across the globe in multiple markets customer had building inventory due to increasing prices. This inventory in china is meaningfully less than we experienced in the past. Another important thing, jon, when you look at the supply simulation happening in the industry, supply growth is slowing down in the industry and last year, 2018, as well as 2019 d lamb supply growth is 20 . In 2020, we talk about supply growth of mid teens. Thats a difference in supply growth, much more meaningful to the supply demand balance than the inventory level thats potentially there in the china markets. Bottom line is as we enter 2020, we have tail winds to industry demand, supply balance lasting throughout calendar 2020 calendar q1. In 2019, demand, supply balance was head wind. This industry, micron with strong execution, is being in a different place in 2020 compared to 2019. Sanjay, the fact that you called a bottom for the Current Quarter part of the reason the stock is up 3 on the heels of the earnings as well in terms of the rate of recovery, what are your expectations we expect that our fiscal q3 will be a gradual recovery we are bringing down inventory faster, competitors may still have some level of inventory as we look at second half of calendar 2020, demand trends are stronger we have seen decent signs of pricing improvement. Fiscal q1, price decline in dlam, compared to prior quarter price decline. In ad the price went up. Overall look at improving fundamentals throughout 2020 once we get pass the seasonal calendar q1 which is baked into q2 guidance. Our Second Quarter ends the end of february. Q3, you see recovery in march. That will be as you go through calendar 2020. Second half of calendar 2020 will be stronger as is typically the case every year versus the first half i was skeptical when you said that last year, given what you were facing, but it did turn out that way lets talk about huawei. Big, important consumer. You had some issues with them beyond your control. You point out specifically on the call that theres going to be some issues with the revenues you get from huawei. You dont expect it to really roll in the first half of the year what potentially happens in the second half then how should investors plan for huawei related revenue the second half and how it might alter the picture for you . As we have shared before that we have been continuing to ship product to huawei that has not been subject to export Administration Regulations and now we are thankful to the u. S. Administration reviewing applications for licenses that we applied and approving them, four shipments to huawei all the applications we applied for have been approved what it means is that for new products that we are designing and new products and new platforms that huawei is designing, now we can begin the qualification activities for new products to be designed into their new platforms. Those typically take a few months over the course of last few months, since huawei was placed on entity listing, we couldnt engage in new product qualification activities with huawei as we qualify new products that will take a couple of quarters, beyond that we would seeing growing opportunity for us to deliver mor product to huawei. It used to be 12 to 13 of business, it is now less than that micron business is globally very well diversified end markets well diversified from smart phones to data centers, all of the trends of 5g and ai and autonomous are driving Global Demand for our business thats our focus diversify the business and Consumer Base and bring more new products, just like we announced several new products, focus on product leadership. It will be interesting to see how much that huawei percentage bounces back great to have you. Thanks for being with us thank you, jon. When we come back, investing responsibly. We speak to the head of goldmans Sustainable Finance group. As we head to a quick break, checking shares of tesla, hitting a fresh alltime high again this morning remohs up over 60 in the last the ntsquawk alley is back afr this woman my reputation was trashed online. I felt completely helpless. My entire career and business were in jeopardy. I called reputation defender. Vo take control of your online reputation. Get your free reputation report card at reputationdefender. Com. Find out your online reputation today and let the experts help you repair it. Woman they were able to restore my good name. Vo visit reputationdefender. Com or call 18778668555. Iac announcing plans to separate dating Service Operator match group. They hold a controlling stake in the parent of that it is expected to be tax free as a spin off they anticipate to separate in 2020 if youre an iac shareholder, you get new shares of match. That company will be paying 3 a share dividend to iac, but perhaps most importantly match will be a fully independent company. One share, one vote as well, which is important from governance perspective, also allow to be included in indexes that will conceivably add buying power, and potentially could be a takeover candidate once it is fully separated. Most eligible bachelor or bachelorette of 2020 perhaps it is not small. It has more than 20 billion market cap but that data and engagement with young users, i dont know where else you find that seventh spinoff for iac, provides them with capital to pursue new opportunities, something to watch there as well. 2. 9 billion in cash proforma. Match will be levered, 4. 2 times, expected in ebitda. Diller who oversees this will own 6 personally of match, but iac will no longer have ownership stake. There he is. Havent interviewed him in a long time. Ask him for matchs hand. Wearing the same tie. It is end of the year last tieme i interviewed him long time ago. Miss you, barry. Uber and lyft are preparing for californias 85 bill that could potentially effect the economy landscape. Deirdre bose has more. Reporter on january 1st, california is the first real case study how to regulate tech. Two new laws address the increasing amount of influence Tech Companies wield over parts of the labor force and our privacy. First, theres Assembly Bill five known as ab 5 requires employers in Industries Like ridesharing and food delivery to reclassify some independent contractors as employees. This could change the Employment Status of more than a million workers here in california right now, less than two weeks from implementation, theres far more confusion than clarity. The law is meant to empower big economy workers, give them protections they havent had access to. At the same time, if it hindered flexibility, there are carve out for lawyers, doctors, engineers, but not so for Truck Drivers and freelance journalists uber, lyft, doordash failing to secure are willing to spend for a ballot initiative. When the bill goes into effect in january, uber and lyft say drivers will remain independent contractors, that could lead to a slew of lawsuits meanwhile, uber and lyft have added the bill as a risk factor in sec filings analysts predict could cost hundreds of millions and the Consumer Privacy act that gives californians data protections, could Cost Companies up to 55 billion in initial compliance costs, according to one report. Guys, as lawmakers figure it all out more broadly, how to regulate tech, california come january 1st could be a good taste of whats to come. Back to you. Thank you up next, 750 billion. Thats how much goldman, sachs expects to go into Sustainable Investing over the next decade the head of that group is with us when squawk alley returns the cnbc Trend Tracker live data board is brought to you by the cme group. Cme group, where the world comes to manage risk a choppy session in european markets, now closing seema mody joins us with more. Thats right, jon a mixed session in europe. The uk pound is getting a lot of attention this hour, on track for the worst week since july of 2017, following a sharp drop in retail sales bank of england keeping rates on hold in Monetary Policy meeting today. Russia in the news, we saw president Vladimir Putin holding an annual end of the year press conference, the russian leader defending President Trump and the impeachment probe. Listen translator youre asking the question as if it is coming to an end and im not sure about this it needs to go through the senate where the republicans have the majority as far as i know, it is unlikely they would like to remove a representative of their party for made up reasons. Fueled speculation he intends to be leader beyond his term, set to expire in 2024. Back to the market, russian stock market worth noting up 42 , doubled gains of the world index. Certainly an outperformer. Morgan seema mody, thank you. Now to sue herera for a news update at this hour. Hey, sue good morning, morgan. Good morning, everyone heres whats happening. A magnitude 5. 5 earthquake rattled northern japan the epicenter was in the sea the Japan Meteorological Agency said it posed no tsunami risk and no major damage reported. China president meets with macao chief executive. City leaders put it on a tight security lockdown, including barring political activists and journalists from nearby hong kong. General motors recalling more than 814,000 pickups and cars to fix problems with the Electronic Brake controls and battery cables it covers 2019 cadillac ct 6 sedan. Chevrolets, silverados, and pickup trucks. Includes 2020 pickups. And report from bank rate. Com says half of American Workers didnt see a Salary Increase in the last year. 28 did get a pay hike 12 got a better paying job. 10 got a raise and better paying job youre up to date. Thats the news update back downtown to squawk alley. David, i will send it back to you. Thank you, sue. A big leap forward for socially responsible investing goldman, sachs pledging to invest or finance or advise on 750 billion worth of sustainable based themes over the next ten years joining us, head of the sustainable group, John Goldstein. Thanks for coming here nice to have you nice to be here. Nice announcement from the ceo, David Solomon you said in a podcast internally at goldman this is grounded not on commitment to something outside of us, this is grounded on a core view of where the world is going based on Market Research driven view that Climate Transition and inclusive growth will be central secular themes for the economy why do you believe that . I think it is one of the interesting things that makes our approach a little different, right . This idea is not necessarily in reference to other standards or benchmarks, it is where the world is going effectively, this is Research Going on in lots of parts of the firm Global MarketsInstitute Published a piece taking the heat on risk to cities of physical climate risk, investing in renewables and education. Two core themes are shaping the operating environment, the economy, and the world for our clients and ourselves. Inclusive growth the idea we need growth and needs to work better for more people and Climate Transition, the idea that ultimately we need to work to avoid worst impacts of climate change. It wasnt just showing up as a set of ideals but in numbers Renewable Power is not an ideal, Renewable Power is 70 of net new power additions last year. Electric vehicles arent just an idea, 400 billion is coming investment in the years ahead. Student debt is the second largest source of debt after mortgages. There are large opportunities, large markets. When we see that, we see need and opportunity. How does it change your approach at goldman. I imagine that the company would advise on or finance or be involved in transactions that might amount to that number in the next ten years, regardless whether it is under some esg banner how is this different from what you would do day to day . For us, once we have recognition it is a large, accelerating trend, what do you do, you invest build Capabilities Even though we have a lot, we do three things number one, work to stitch together capabilities. For example, i was meeting with groups at goldman, sachs, 24 people, Senior Partners that are the steering group, talking Renewable Power. We have expertise in every division Merchant Bank has the largest renewable platform in india. Renewed power, transition dane i can power company. In the investment management, we installed 13 mega watts of clean energy at jfk airport, combined clean energy, storage, Community Ability to participate Securities Division help finance over a gig a watt of power procurement. We have pockets of expertise for us, what makes it more effective is putting it together to sit down, i dont know if you talked about one goldman, sachs, the idea of a client shouldnt need a pht of goldman, sachs to get the best investment. Renewable power. Which service, which product within which part of the firm is right for them as they want to transition working with power. This is top of mind, we have capabilities and expertise, can map to their needs john, this comes up so often in my work in the last year, i imagine next year coverage will have more about esg. What has happened that elevated it in terms of the consciousness broadly, changed the conversation where last night i had dinner with the ceo of a Natural Resources company that was talking about this very focus for their business as well why is it different than it was in the past . This is one of the things, ive mazing answer to document how it has grown, why it is grown is the interesting question the best answer we have is intersection of three interrelated trends. Number one, demand people whose preferences matter in the real economy want this in a way that has teeth historically they talked about Millennials Wanting to invest differently. 28 of Millennials Want to invest in a socially responsible way, probably within margin of error. However, what matters is Millennials Want to shop differently, want to buy different products from different companies. Millennials want to work differently. Talking to the cfo of a large company, number one, two, three issue, sub employment world competing for knowledge workers, i cant get the best employees unless i show them what we do has meaning in a purposeful way. Investors. Investors are getting organized. Climate action 100 plus. 3 3 340 investors. That starts to really matter starts to have teeth policy makers. European Commission Just approved the european Sustainable Finance. Nonsustainable Investment Products will have a cigarette like warning label the next couple years federal reserve. Federal reserve digging into this analytical question had a full day event, 160 day proceedings looking at what does it mean for the Mortgage Market if the price or availability of mortgage insurance changes of course for flooding, fire, anything like that. My neighbors are getting insurance dropped for fire in california with planned power outages, had neighbors needing wifi. This is visible, top of mind in a way it hasnt been in the past. What do you say to critics that call that esg push a pr stunt or Hedge Fund Short Sellers say there are too Many Companies green washing. I think it is a real issue. Almost as keshconcerned about checklist as green washing you can say esg is not focused thats not a viable answer bad news, theyre solving for the perception and view, some are solving for the messy reality. We had a large pension fund. Talked to investment managers, assess their capabilities. First manager was excited. Sent us email, seven attachments. Second sent a terse note i believe this would be a brief conversation first call we go to, thats great. Can we hear what the Portfolio Manager has to say how she manages the portfolio. Turned out not a lot going on. Next manager first 30 seconds awkward he wanted off the phone. Writing in the notebook, you dont do esg what do you do they have a book investing in Industrial Companies a little capex could giver more efficient water, energy. If they communicate, selling to Northern European consumer business markets, get a small price premium. I paused i said in our world we would call that greening manufacturing companies. They said we dont and theres so much ideological, philosophical baggage that needs stripped to get to that question. I want to have you respond to this theres lack of uniformity, how to measure progress from corporations esther pierce, an sec commissioner on earlier this week, questioning the nature of esg. The first issue is we dont know what esg means. The notion we can come together and get our regulator to focus on an amorphous set of qualities other than long term value of a corporation, i think were fooling ourselves. What do you say to her . What i say at the end of the day, funny, i was interviewed once, somebody said how can you expect an investor to perform with one hand tied behind their back i was with a colleague that said esg done properly is a thirdhand. Leave aside labeling, marketing, trying to appeal to a product list, get to the question. End of the day, does one of the following three things happen. Does it help you identify risk, find growth opportunities, or drive efficiencies there are levers that make it matter goldman, sachs, thats the focus. Were not there to have ideology around this, we are there to have research and data i agreed with the push that theres a lot of vague re. Sometimes theres too many adjectives, not enough nouns and verbs. Thats part of the maturing. Theres a lot of noise, how do i find a signal. How do i talk to the market. Corporate said they were asked for 2,000 different data points on esg i would be willing to wager 2,000 data points are not it is an important conversation one were going to continue into the new year thank you for joining us thanks for having me. Happy to have you John Goldstein head of the Sustainable Finance group. When we come back, imax announces the highest grossing year the ceo will join us first, Rick Santelli, what are you watching today i am looking at the board that yield spread is 30 basis points four months ago were supposed to have a resonecsi what happened. Talk about it after the break. Ugh, another electronic signature. You have to print, walk, sign, scan, recycle, walk, email yourself. Really . More walking, try again, waiting, recycle, walk, email yourself, then get back to your day. Or not. This isnt working. Introducing samsung paperless workflow solutions. With the galaxy tab s6, you can sign Digital Documents onscreen, with a finger or your s pen. Samsung business solutions. Lets head over to the cme Rick Santelli has the Santelli Exchange rick good morning, thanks, jon you know, many things we study in the marketplace either turn into conventional wisdoms or start as static analysis this happens quite frequently when we look at legislation that effects tax policy secretary mnuchin this morning was discussing how he and his tax reforms are misinterpreted they will lower deficits but over a longer term expanse, ten years, because there is a dynamic process. You lose sight when spending is ramping up where you lose benefits of some of the policies lets face it, static analysis is dynamic white noise tens to twos spread. You recall four months ago, for six sessions between the end of august, early september, traded from zero to minus 05 at the bottom where are we now flirting with 30 a lot going on in the markets, lot of dislocation due to policy to draw those conclusions, at the end of last year when the market had guidance from the fed and everybody seemed to think we were involved in long string of tightenings, well, it wasnt what happened in the marketplace was a reversal things are dynamic you cant look at something, compare to history and times where, for example, china wasnt a force in trade finally, heres ten year bund yields we want to monitor this. If this gets closer to zero, should excite Global Markets back to you. Rick santelli, thank you. Squawk alley is back after this welcome back to squawk alley the final chapter in the star wars saga in hollywood, 24 hour movie marathon has been going on since last night julia . Reporter morgan, thats right. The return of the jedi is playing right now, and this is one of 21 theaters around the country doing this nine movie marathon this theater has some special guests the storm troopers, bb8 is here pretty remarkable. Moving droid here, and with the special guests like these, the 500 tickets for this marathon at 125 a piece sold out within a couple of minutes. Now, this film, is expected to gross about 200 million in the north American Box Office this weekend. Its the second biggest opening of the year and seventh biggest of all time. Still behind the prior two star wars films. Disney said it wont do another star wars Theatrical Release for another three years. The media giant has a lot riding on the Star Wars Franchise disney spent over a million in land, the company admitting early attendance was lower than anticipated and star wars is a key piece of disney plus star wars spin off was a flag ship show at the launch of the streaming service. Disney has several other live action and animated series in the works for disney plus. The question is whether having seven episodes of this available for streaming at home on disney plus for just 7 a month drives more interest in star wars or if it raises the bar for getting people off the couch and to buy tickets for the movie theater. Another challenge for the rise of sky walker, the reviews have not been as positive as the prior to films just a 56 rating on hotten tomatoes thank you, julia. Also, the Entertainment TechnologyCompany Announcing a record setting year at the global box office. More than 1 billion in ticket sales for 2019 so far. Joining us to discuss, rich. Good to have you great to be here, john. How great has this disney run been for you between avengers and the sky walker saga which is also coming to an end . Well, i think the road to block buster goes through i max. Theres no doubt the phenomenal block busters are terrific for us the block buster business isnt going away because two franchises are going away in the interim. Next year marvel has two new movies, new franchises top gun next year coming out wonder woman 2 june later in the area all films with i max cameras you mourn them do you . Ive been doing this 25 years. Theres always another one is it a rebuilding year these were record setting franchises that are indeed coming to an end can that just be easily replaced or grown upon . I dont think you can look at it in a oneyear stretch for imax the last two years were Global Records for us and part of the reason is were a Global Company only onethird of our business is in north america. So china had an unbelievable box office were up 20 this year and that included animated films. If you look at global box office, i think its pretty well positioned what happens with the streaming services coming onny disney is a great example. Disney plus. Theyve dominated the box office what does it do in theatrical windows and whats offered on the big screen i think thats a false narrative that it really affects the box office when Stranger Things opened, spider man opened. It was a record weekend. When game of thrones opened up, end game opened. It was a record weekend. Netflix subscribers go to the movies more than nonnetflix subscribers. You are popping into streaming companies as well. Its a wonderful way to launch a movie, a wonderful prestige plat noforplatform the irishman, they showed it in theaters people loved it. When who you got into the data, some people reported that only 18 of the people got through the movie and watched it at home i dont think top directors like jj and others are going to make movies to the tv setting its a social experience its a way to go with your friends. I mean, star wars today is a cultural event cultural deal. Go watch in your living room with your parents. I dont think so yeah. The kids already want to know when were going to see it and they want to see it on as big a screen as possible point taken. Thank you so much happy holidays lbewel back in less then three minutes. The s p is at 3201 first time ever. Stay with us its already been a busy week for boeing. The Company Planning to launch its new star liner spacecraft into orbit first flight to space is going to happen tomorrow morning atop the United Launch Alliance atlas 5 rocket no people will ride inside the space capsule on this flight it is headed to the International Space station. Nasa says its going to lift off or is expected to lift off from Cape Canaveral tomorrow morning at 6 36. Dock a day later and return on december 27th. Ill be there tomorrow morning for the launch im bring you the headlines and maybe interviews as well all right and with the s p hanging in at 3200, well toss it. Thank you so much im front and senor this hour, growth versus value. Where your money will work pest in the year ahead. Stocks are on the move its noon. This is the halftime report. Tech on a tear. That sector is on pace for the best year in a decade