Hill ceremony honoring former senator bob dole. He is about to receive the congressional gold medal, the top honor congress can bestow. He was the only president ial candidate to endorse President Trump. And the president will be there when the president speaks live. We came within five points of seeing a 300point gain for the dow. Up 287. The climb today has been since the opening bell, steady but steep as the dow is about to make another mt. Everest peak in the final hour. We stand at 26,082 points, taking another step. The second one closing above 26,000 following yesterdays crushing 383point swing. Remember yesterday it crossed the milestone level, jumped up when the bell opened and fizzled out. If it happens today, it will be only eight days since the last time we saw a thousand point gain. That makes it the shortest stretch ever between the milestones. The previous record between thousand point moves was 23 trading days. While the dow is propelled higher on stronger than expected earnings, Goldman Sachs may have caught a bit of the flu and some other big banks are catching a cold. The wall street journal reporting 2 billion quarterly loss due to a hit from the new tax laws. Goldman is the second worst performer on the dow at this hour. It is down 2. 33 , lower six bucks. Snow is slowly coming down in new york city as the unseasonably cold weather at the end of december helped to boost Industrial Production thanked to increased demand for things like utilities and mining. December Industrial Production, and this gives us a sense how big industry is doing, jumped nine tenths of a percent, the expectation was four tenths of a percent. The bad news is manufacturing didnt play into this, it was more mining and, of course, as i mentioned, what we had there with all kinds of telecoms and utilities. So at the moment get to the floor show, we want to bring traders in at the New York Stock Exchange and the cme group. Teddy, 26,000, we hit it maybe in 57 minutes . Well, its possible. I think todays performance after yesterdays selloff, it wasnt complete reversal yesterday. We gave back the gains, flat on the day. I think it caught a lot of folks flatfooted today. I think people came in basically willing to sell them and put them out short and the rally kind of, i think caught everybody by surprise, and the tax bill that we had positive news out of apple today, the gift that keeps on giving, plus the fact it was smackdab in the middle of earnings season, and so far theyve been very good. You got kind of two very positive things as a backdrop, and the lines of least resistance clearly remain on the upside. Liz apple is definitely hoisting up, i would say all three indices because of course it factors into that. This morning it was up about a third to quarter of a percent but suddenly right now we see it up 1. 5 , on phil, very good news, its very important folks, you got to follow up and check back to make sure theyre going to do this. Because they will be able to repatriate profits shelved overseas, theyll put 300 billion into the u. S. Economy. Theyll hire 20,000 people. You can see intraday on the news, thats got to help. You tell me, phil, the u. S. Dollar is weak that helps big u. S. Based companies that do business overseas. Do you get a sense thats the place where the flows are going right now . That people want to catch that wind of a lower dollar that keeps Big Companies here . I think they do, theres no doubt about it. The dollar has been carrying the rest of the globe on its back for the last couple of years. We saw the surge in the dollar last year, everybody was afraid we were going to raise Interest Rates and a detriment for u. S. Companies. Now were giving the big payback, seeing growth with the lower dollar thats perfect for the manufacturers. What were hearing from apple today as far as repatriating jobs, thats just the tip of the iceberg. Im hearing from other companies that theyre talking about looking at ways to bring jobs back to america. We were talking to a major firm that does clothes, an international company, theyre thinking about bringing back 1 of cut and sew because of the tax break. It is the gift that keeps on giving. Liz flynn and weisberger, the gift that keeps on giving. While were talking, up 309 points. Hey. Liz hang out with us, gentlemen. It may sound fabulous and for the bulls on the stock market. We have a dark shadow looming over capitol hill as we are now just two days away from a potential Government Shutdown. Just moments ago and we got this tape in. Senate leadership, Mitch Mcconnell took the microphone to address questions over congress potentially approving another temporary continuing resolution. This is the stopgap that would keep the government available to spend through february 16th. Heres what he said. Im certainly going it take up what the house sends us. The democrats and the senate have been very consistent and clamoring for addressing the Childrens Health care program. They claim they dont want to shut down the government, so it seems to be, it would be a rather attractive package. I certainly hope thats the way they look at it. Reporter [ inaudible ] i believe we have a good chance of passing it. Liz theres something missing in it, and . Sharp contrast, right after that, Chuck Schumer moments ago said there was, quote, broad revulsion among senate democrats. They would not likely support this continuing resolution because it does not deal with dreamers. The children of illegals who come into the country and have now grown up, know no other home and still live here. Over at white house, you can kind of get a sense where the white house stands on this. Sarah sanders said finding a deal for daca, the dreamers, remains one of the Top Priorities for the white house, specifically, she said we very much want to get a dreamer deal done. Lets bring in democratic congressman Brendan Boyle of pennsylvania joining us from capitol hill. The government is funded until 11 59 p. M. Friday evening. You have to tell us what the democrats are saying now. Daca is not in this continuing resolution that the house may pass and give to the senate, but chip is, the Childrens Health care plan that extends it, maybe you do this and say well really negotiate after for dreamers, or no way . Thanks, great to be back with you, liz. You know, the republicans control the house, the senate and the white house. Never before in American History have you had full one Party Control and have a Government Shutdown. So if there is a Government Shutdown, it will be because of republicans. They have a pretty big majority here in the house. What i would like to see is an end of this every three weeks, every four weeks seeing if were going to have a Government Shutdown or not, and actually coming to a real agreement. Republicans have the vote to do that on their own. If they want democratic votes, were certainly openminded. I would like to see a real agreement on defense spending as well as nondefense spending. The proposal, the last one i heard of would increase defense spending while holding nondefense spending content, i dont think thats going to fly on our side of the. Im there is the issue of dreamers as well as were coming up to the deadline in march that President Trump created. He could take that issue completely off the table and simply reverse the action he took a few months ago. So in the end. I want to see an agreement, but if you want our vote, there has to be real compromise and real give and take. Liz the president is about to walk out in a moment on capitol hill for the event for bob dole, the former senator of kansas and war hero and as we watch the Vice President , mike pence come in. What would the message be . Seems the president would want to do a deal on dreamers. I commend the fact were honoring senator dole today. I wish that a little bit of senator doles approach on these things in the 90s would rub off on President Trump. I remember the last time the republicans shut down the government in the mid 90s, apparently it was Senate Majority leader dole put that to an end. I dont want to see a Government Shutdown. No one wants to see it. In the end the republicans need to compromise if were going to avoid it. Liz should be noted that while republicans have a significant majority in the house, in the senate, theyll need all of the republican members and nine democrats to pass this, and there isnt an indication that every single senator on the republican side would vote for a continuing resolution. At some point, though, democrats, dont you admit they need to come forth and say, chip, well take, it negotiate, nobody is going to be happy with everything. The challenge is then where will we be in a month from now, when were right back in the middle of this neverending soap opera. I would rather come to an agreement and resolve this once and for all. Are we going to have continuing resolutions for the next several years . Thats not responsible governing, and i would say to republican friends, quinnipiac released a poll that showed 86 of the American People support allowing dreamers who are americans for all intents and purposes, 86 of the American People want to see them stay and not supported. Lets finally come to a resolution on this and put this push this issue to bed. Liz congressman boyle, thank you for joining us from capitol hill, and just as we dip back into that event for bob dole. We should let you know as speaker ryan takes the podium, as soon as President Trump begins to speak and, of course, bob dole, we will take this event live. Dow jones industrials up 308 points. 49 minutes left to see the big milestone. The dow crossing and closing above 26,000. You know General Electric used to be one of the Building Blocks of the Dow Jones Industrials and of the nations economy, but now trying to figure out the best structure for crumbling business. Charlie gasparino about to pull back the curtain on the palace intrigue of ge as the stock continues to fall. Charlie breaks it next on countdown. The latest on the bitcoin price as well. Shes nationally recognized for her compassion and care. He spent decades fighting to give families a second chance. 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And theres never been an easier way to get great advice. A place for mom is a free service that pairs you with a local advisor to help you sort through your options and find a perfect place. A place for mom. You know your family we know Senior Living. Together well make the right choice. The markets change. At t. Rowe price. Our disciplined approach remains. Global markets may be uncertain. But you can feel confident in our investment experience around the world. Call us or your advisor. T. Rowe price. Invest with confidence. What i do know is going on inside the company is flannery, john flannery, doing a toptobottom review, heres where i think investors missing the boat on this thing. He is looking at all scenarios including a major breakup of ge. What i understand flannery is looking at, one of the scenarios, if he does go there, this is the one thing i think analysts say is going to boost the stock, is to break up the company into various other companies. Liz he broke it. That was charlie gasparino, but in october, all the way back last year, breaking it right here on countdown, the General Electric was considering cracking up the company. New Ceo John Flannery confirming the breakup is on the table. But whats got to be happening under the table . Charlie, palace intrigue like game of thrones. This is the end of ge as we know it. And excuse me, a great guest to have on would be obviously jack welch to think about what he said about the legacy, when you talk to company insiders, they will tell you that mr. Flannery, the ceo may have no other choice but to do this breakup, ending ge as we know it. What does that mean . You break it down for three separate companies, power and energy, aircraft engines, health care, other stuff you need to sell off to paydown. Pension liabilities, other issues, maybe keep the dividend going for a little bit. Those are the three Main Companies that would survive this, when you talk to people, you look at the stock price, i believe yesterday was at 17. 50. If you sell aircraft engines, were at about 17. 30. You get about 10 a share of that, and 30 of the company. The 70 of the company you can easily make up the rest of that bogey, the stock price and get more. Its a net positive for the stock. Thats how mr. Flannery, if he goes this way would sell it. What im hearing from people inside, its those three areas, y units, will be the major part of the company. You could see ge revisit some strategic combination with honeywell as it restructures. If you remember, one of the last things that jack welch tries to do as ceo in 2001, as he named jeff immelt his successor is merge ge, essentially buy honeywell. Scuttled by the european regulators and the Company Never recuperated from that. It was really a negative mark on the company and ran into other issues and mainly 9 11, and then the real questions about the ge conglomerate has been haunting whether thats a proper Business Model has been haunting jeff immelt ever since. I hear that there is talk internally about revisiting a joint venture with honeywell since both of them have slimmed down and plenty of synergies if you merge them on the aircraft marving side. Thats the stuff thats going on. Theyre talking radical changes. Were talking about ending ge, one of the Biggest Companies in the dow, as we know it. Were talk about something liz the original dow members. Something that jack welch built could be in the middle of being dismantled and only hedge myself here anything is possible. I dont know if he has much choice. Thats the people im talking to. He might have to go here because of the pension liabilities and other liabilities and the fact of the matter is, wall street hates the stock. Liz charlie, do you think cbs has a choice or les moonves has a choice. There is news about cbs, down 1. 5 , journal reporting that Shari Redstone, the daughter of sumner who controls both of the companies, wants to add directors. Looking at the board of directors from cbs, have you sumner, shari and Leonard Goldberg of spelling goldberg, big producer, joe califano, former secretary of education of welfare. These people are all 70 years old or older. 60, 70, 80, and im wondering what is she trying to do here and why viacom is up, cbs is down . The endgame is to put pressure on mr. Moonves, this is an old story, talking about this for about a year. Pressure on mr. Moonves to merge the two together. Cbs is the stronger of the two National Amusement companies. Thats the Holding Company that sumner and redstone and Shari Redstone now, since the father is incapacitated or smarr incapacitated, those are the two units, the viacom unit is not the healthier unit. Cbs is doing well. One thing les moonves has tried to do. He doesnt want to be saddled with. This you just know that the properties at viacom, mtv and all that other stuff, these are not cutting Edge Properties and getting crushed by cord cutting. He doesnt want to saddle his shareholders with that. She sees it differently. Maybe this is a way to survive. Obviously this is a play by Shari Redstone to turn the screws on mr. Moonves to get him to agree. You could say why doesnt she order him to do it . If les moonves leaves tomorrow, a huge chunk of cash, hes made his money and can say, sayonara. Closing bell 38 minutes away. You know boeing was the leader on the dow, its leading again this year and today, jumping 12. 50. The biggest mover on the dow after Wolf Research raised it to outperform. Delivering a disappointing outlook at an Investor Conference late last night. Stock is getting crushed down 7. 75, the nations number two automaker says 2018 earnings going to be lower than expected. They also said the turnaround plans would take years to become profitable. Up next, theyve appointed a used car salesman to head the atlanta feds. Not just any car salesman, mike jackson, the ceo of auto nation. My exclusive interview with the new driving force of the atlanta fed next on countdown, and wait until you hear what hes doing for employees and citing the tax plan for it. Dow is up 300. Liz breaking news you want to see bipartisanship on capitol hill . Were kind of seeing it now. Congressman steny hoyer, the democrat of maryland now speak at the congressional Gold Medal Ceremony honoring republican senator bob dole. At any moment, the president is expected to speak and as we look at all thats happening from a business and economic standpoint, president should be happy. Winner of a week. Sky high markets aside, apple climbing to the top of the dog pile to companies that have cited the Corporate Tax cut as the reason behind bonus and wage hike announcements. The tech giant plans to contribute 350 billion to the u. S. Economy over five years, that includes creating 20,000 new jobs and new campus. But its auto nation, the auto dealer giant that has not only announced it will double match in contributions to employees 401 k plans. Auto nation the first to answer a Cancer Benefits program for employees diagnosed with the disease. Auto nations president and ceo mike jackson who was named chairman of the Federal Reserve bank of atlanta joins us exclusively. Mike, so youre a banker now too congratulations liz, good afternoon, yes, its quite an honor, ive been on the atlanta Federal Reserve board for several years to become chairman. And one of the things i admire about the Federal Reserve is why they have endless ph. D. s in economics. They also value a street point of view from the real world as whats happening with the economy. So the 12 reserve banks they have Business Leaders and Community Leaders who not only are the board of those institution but get the opportunity to express the view of whats happening in the economy so it can make a decision based on the real world as well as academics and all their data. Liz you are in the real world as the ceo of the largest auto dealership in america, i look at all you can do and bring. When you think about Interest Rates, i have to ask you this, Jerome Powell is the incoming fed chief, fed chair, he seems hawkish, wants to raise three times. The Martin Feldstein says this is going to crash stocks, the fed cannot control inflation that, well, i would say you all now, because youre part of, it behind the curve, should have been raising rates long ago, where do you stand on raising rates three times this year . So what ive expressed is theres much more room for robust economic recovery and theres no sign of inflation. However, weve had crisis rates in the u. S. For many years. Liz too long . Too long. Liz and that we need to normalize rates. Im not saying raise rates to the point that youre trying to tamp down inflation, and the new normal is lower than what the old normal was, but a normalization of Interest Rates and the Balance Sheet of the Federal Reserve still being supportive of Economic Growth, i think, is the ideal line to go down, and i think in my judgment, three raises, if thats what it turns out to be in 2018 is along that line. I dont think it shuts down growth in america. I dont think it turns the stock market upside down at all. Liz well take that and run with it. The Corporate Tax cut is certainly helped the stock market. I need to get to your decision, not only to up your matching, double the matching for 401 k plans and employees but also the Health Situation that youve done, putting together a benefits plan for employees diagnosed with cancer. I personally watched you guys at auto nation with the drive pink plan that is so supportive. How did you come to put the money in there and not share buybacks or buying out a dividend. We think shareholders will benefit from us having a fairer tax rate, particularly as a u. S. Based company. And i think the Corporate Tax system in the United States has been broken for a decade and a shackle restricting Economic Growth in the u. S. , and also an onerous overregulated period that weve gone through. That, yes, i think the stock market reflects the fact that we are moving to 3 gdp growth rather than being stuck in two. Everybody says its one point. The way i was taught math, thats 50 faster growth than before. Its very meaningful for jobs and on the economy. Now, our purpose of the company, yes, is to sell cars, fix cars and do that quite well. But we have embraced the greater purpose and thats to endeavor to partner with Great Research institutions for cancer and find a cure, and if our associates or families have a challenging situation around cancer, we are bound and determined to do Everything Possible to support them. So when we looked after this tax reform, to look at all our constituents and say what more we can do, yes well invest more in the business. Yes, well grow faster. Yes our employees will benefit. We enhanced our 401 k , we enhanced our compensation and did more around our core sense of purpose which is finding a cure for cancer, and so we put in new benefits that say if you are challenged with cancer or someone in your family, you get an immediate payment from the company to help with any sort of extra expenses that you have that you will be confronted with and a number of other benefits we enhanced around cancer and its been very well received. Liz i can only imagine. That is a corporation with a conscience and a heart. Good luck to you and congratulations on the atlanta fed position, are you going to wear three piece suits now that youre a banker . Theyll be lucky if they can get a tie on me, liz, you know me. Liz i know, i know. Great to talk to you, mike jackson saying he will be the new chairman of the atlanta fed and that crisis rates have been down for too long, need to normalize and that will not derail the stock market. Speaking of which, stock market, the dow up 305 points, records for the s p and the nasdaq right now. Bitcoin, wow suddenly reversed in the last few minutes, turning around, it had been getting bashed. Its up 140 now. Were watching this closey, all over the map, just up 300. Now its not but its back above 10,000. Were going to talk to the ceo of a bank who said he just bought bitcoin this morning. Hey, what are you guys doing here . Were voya. We stay with you to and through retirement. 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Woman 3 i know . Liz weve got breaking news on bitcoin after enduring a dramatic drop earlier today of more than 12 , it is trying to fight back at this hour. Earlier below the 10,000 level, and that means it was cut in half since its peak of 20,000. Relatively recently. The cryptoking right now trading, its up 360 bucks, it had been down pretty precipitously. Before we talk about a bottom, analysts at citi, see bitcoins value get cut in half again. Right now what we put on the screen, lower righthand is the cme futures for bitcoin. They expire on the 26th of this month. Cboe futures for bitcoin expire today, thats adding to the volatility. Weve got a guy that bought bitcoin this morning and invested in initial coin offering. Hes fox News Business contributor robert wolf. You bought this morning, at what price . I bought at 9569. Liz was that a bottom for the day . I only bought so i could have a conversation wow it. I bought very little. As you know, we chatted earlier, i am playing in two different preicos. Liz initial coin offerings. Initial coin offerings. Whether bitcoin is the right venue and platform, all to be determined. Cryptocurrency is here to say, its an asset class. One is in the Legal Compliance space, ive purchased in the preico and also in the retail space. So you know, the question whether bitcoin has volatility, yes, but i think theres an asset class, the decentralized exchanges will be here to stay. Liz old School Bankers do not like this. Jamie dimon called it a fraud, now saying i shouldnt have called that that. Yeah. Liz you used to be the chairman and president and cbo of ubs president americas. Would have you green lit any foreign coin desk on this . I would say that i look at it as a little differently. I dont see it as a currency, i see it as asset class. I dont think people should be speculating in gold as an asset class. My perspective is a little different. I think from a regulatory perspective, thats why were seeing the downfall. When i was president of the Investment Bank at ubs, 27 countries. Theres regulation everywhere, and based on what south korea has is briefly looking at, japan and china, tradeings, its going to change the speculation. Were seeing the dump when we can. Liz regulation is the sword of damocles hang everything on the bitcoin saying we dont want to do with it. China saying we dont want banks trading it and also said we dont want related businesses, that would include block chain, the ledger that legitimizes block chain . Block chain is decentralizing, using this virtual ledger. There is going to be speculation in all of these cryptocurrencies, there will be some that are real Asset Classes and here to stay and whether bitcoin is the future. Im not sure. Lets recall, theyre down 50 from the high, but up 10 times from a year ago. There are still a lot of people that are still active. Liz there was the Long Island Iced Tea company, long belong chain company, plummeting 18 . We have other stocks we can show you that are involved in either bitcoin or bitcoin trading, and if we put those up, you can see they too, while still down off the earlier lows and you can see social reality down 10 . Long island iced tea corp. , the old ticker we should say, long island block chain. Superimpose that over the dow, up 338 points. Goldman had first problematic q4, does that worry you . The banks are going to do well because their net interest margins will continue to be good. Trading shops are different than high Interest Rate environment, theyre carrying position that is difficult. Goldman is not a bank, they are Investment Bank, i wouldnt compare them to a b of a. Liz big financial. Im not in it. I know it will be at 5,000 tomorrow again. Liz nice to be you. Thank you. Liz robert wolf. Closing bell 17 minutes away, folks you will witness 26,000. We do have speaker, former speaker of the house when the democrats were in control, nancy pelosi, who is at the bob dole medal ceremony. Look at this packed rotunda, folks, there isnt an inch to move. This to honor the former kansas senator, kansas congressman and war hero. Fighting with the allies in italy. Wounded terribly, came back and devoted his life to public service. Bob dole being honored today, President Trump is expected to speak, hes there with Vice President pens, we will be right back so we can take it live when it happens. Countdown is going strong with the dow, 335. Im a small business, but i have. Big dreams. And big plans. So how do i make the efforts of 8 employees. Feel like 50 . How can i share new plans virtually . How can i download an efile . Virtual tours . Zipfile . Really big files . In seconds, not minutes. Just like that. Like everything. The answer is simple. Ill do what ive always done. Dream more, dream faster, and above all. Now, ill dream gig. Now more businesses, in more places, can afford to dream gig. Comcast, building americas largest gigspeed network. Dad promised he would teach me how to surf on our trip. When you book a flight then add a hotel you can save. 3 waves later, i think it was the other way around. Everything you need to go. Expedia. Liz check it, we are now in 26,000 close mode. At 26,116. This jump of 332 points right now, significant. Nothing above provides a ceiling to smash the heads of the bulls up above. So were looking at a very Big Stock Market day and historic day. We never closed at or above dow 26,000. Weve got 12 more minutes, make that 11, right now. To see that happen. Were just talking about bitcoin. Bitcoin miners may have taken quite the hit, base metals are on the bull run, they have mined and been on a tear, expectations of specifically global growth. Folks, look at performance here. Copper up 18. 5 over the past six months. Zinc up 21 . Aluminum up 18 . As alcoa reports after the bell. Morgan stanleys tomorrow, but i need to go to the Stock Exchange for coal, alcoa and more, nicole, the stock market is on fire right now. Reporter after 25,000, seeing 26,000, as you noted, unbelievable and likely close here above that 26,000 mark. Take a look at alcoa. Alcoa is up to the upside. Not too far off from the alltime highs, up 1. 1 , certainly gotten the boost as Aluminum Prices for the whole year of 2017 gained about 25 . China also slowed the output of aluminum which cut back on production and output. So that also chimed in there. Wait to see what alcoa has to say after the bell. Big picture looking good, and liz, looking great here for dow 26,000. Back to you. Liz nicole, little distracted because were piling on, the dow climbing as high as 337 points in the final hour of trade. Were just off that right now at 326. Lest we pay too much attention to that specific index. The s p 500 is well into record territory. Same with the nasdaq. Im going imagine, i dont know if charlie brady, our managing editor is listening. The russell is there, too. Stocks are headed for a fall. Why would we say that especially on a moment like this . Im not saying it. A man who is a top economist at harvard and worked in the Ronald Reagan administration is saying it, hes saying inflation cannot be controlled, hes Marty Feldstein of harvard. And i want to bring in somebody whos got billions in the market to comment on that and to say whether martys right or wrong. Bruce biddles. First your comment on the market at this moment. Nine minutes left of trade, bruce . Well, it is a great moment for the markets and i think a lot going for it. As you mentioned, its not just the dow going. This is a very broadbased rally, and a lot of confidence in the economy, a lot of confidence overseas and i think momentum is obviously on the side of the bulls. Liz yes, Martin Feldstein feels the fed has fumbled. Weve had in an exclusive interview, mike jackson, runs a company. He knows exactly what hes doing at auto nation when it comes to figuring out what Interest Rates will do. He said hikes in Interest Rates will not derail the stock market. Marty thinks its not going to work. We should have done this long ago. Where do you stand on that . I kind of agree with that. Rates are coming from a very low level, and if you look at longterm rates, theyve hardly budged at all. The yield on the tenyear treasury note is 2. 5 , thats about where it was this time last year, so youve got a growing economy. You dont have any signs of inflation to speak of, yet, and youve got a wellbehaved bond on the long end, bond yields on the long end. Thats supporting this market. Liz okay, let me tell you that i think people are watching right now and wondering where do i go . Which sectors . Or do i stand back . Its awfully rich at the moment. The entire s p trading at 26 p e ratio. Thats really historically high. Theres no question, valuations are stretched, i think there is probably good reason for that, and an old wall street axiom that says its never to late to buy and never too late to sell. I think its never too late to buy. The sectors that are benefitting from the expansion in the global economy, that would be material sector, the industrials and now in the u. S. The financials are doing very well as we see rates rising somewhat, but loan demand is likely to pick up substantially this year, and that will help the bottom line in a lot of banks. Liz whats the floor like right now, nicole . Are you there . Reporter i am. Liz were now at 26,113 about. To see that close for the first time above 26,000. Reporter look, theyre Walking Around proudly with dow 26,000 has the. One has one that says almost 30,000. Spoke to ted weisberg on your show, i said what do you think . You think were going higher. Come on, come on, nicole, had 8,000 points and still going higher. Likes the same name of facebook. Still optimistic, the path of least resistance is to the upside. 319 points at this movement as we speak, all ten sectors are to the upside from technology to energy, financials, helping to lead this market higher, and have you great news from apple which helped to propel things as well over the afternoon. Thats big news boosting economy at home after repatriation of a ton of cash. Theyre going to be adding workers. Adding to the u. S. Economy over the next five years. Optimism. Liz let me point out something about the tech world, and im not talking about the fangs and those techy names. The top three biggest percentage gainers on the s p right now. I dont know if any of you watching on these, lam research, kla ten corp, texas instruments, Applied Materials and boeing up considerably, 4 . The rest are up 7, 6, 5 . A big day for the broader tech world, and here are the leaders. You can flip over to show the laggards, ill get killed by the bears if i dont at least say what is dropping, and let me sort descending on the Thompson Reuters plan here, its hard to find stocks that are down. Ford is the leader, dish network, ge, dense ply. Bruce, tell me what you wouldnt do. What are you avoiding right now . What i wouldnt do is change my asset allocation, as you mentioned, valuations are stretched. So for the average investor, 60 allocation toward economy stocks, i would stick with that strategy. Liz is there a place for treasury in peoples portfolio or near the end where the bond rim has been . I would hesitate to move there. For investors who need it, shortterm rates have come up good, two year, three year, five year paper, i would not go to long end yet. If rates go up on the long end and the ten year bench treasury, it would have to get on 3 before it would hinder the stock market, and right now thats a long way off. Liz i want to just bring in what we had noted in the wall street journal with Marty Feldstein. He Still Believes there is a recession checklist out there. When he talks about that concern, it is real to some people. Dan fuss of lumus sales is a bond guy anyway, marty said the fed will be unable to contain inflation and no excess prices will come about simply because its just too late and the fed will end up being late for pushing all of us into equities which are riskier because there was no yield anywhere else. Where is the market fund that pays 3 let alone 6 , bruce . That is a worry for people on a fixed income. Baby boomers who werent working anymore . Well, there is concern about inflation for years, people think its right around the corner, heard the predictions for years particularly when the Central Banks went to quantitative easing, felt inflation was going to boom and it didnt. And today, yes, theres inflationary pressures. The u. S. Economy is growing at its potential. That could be problematic later on. We are starting to see wage gains. This tax cut is certainly going to provide a spark for the economy and somewhere down the road, were going to get some inflation, but there is also some barriers to inflation, and they would be the heavy debt loads in the economy. The lack of savings and the demographics. So theres some headwinds for inflation as well. But i dont think inflation is going to take off to any great extent to hurt the markets. Liz okay, the headline here is we passed it, about to close on it. Dow 26,000, up 318 points. Charlie gasparino in the chair and phil flynn on the floor of the cme. Tell me what the sense is why we suddenly saw the spike in the last couple of hours and a great day for the bulls in the history books. It is a great day for the bulls, and i think a lot had to do in the fed minutes, they were very upbeat about the different areas that the job market is getting better, wages starting to go up, and thats the perfect environment for a raging bull market. And the other thing is that when we hit 26 yesterday and pulled back so dramatically, people said, hey, maybe thats a top, but looking at it, look at the people looking for a buyin opportunity and thats the way the market ended up today. Liz nicole on the floor with her dow 26,000 hat. And charlie, give me a sense as nicole stands there waiting to see that moment, what do you think is the biggest driver today . Apple saying its bringing back more than a quarter trillion dollars . Thats it. If you look at the Corporate Tax reform, it is such an obvious positive for the market, and its just going to keep trickling in not trickling, flooding and flooding. Liz nor trickle down, its a river. Its a river. Every investor should read the wall street journal editorial page today. Martin feldstein saying the bear case, the editorial page there are reasons to be scared about this market that are not just made up. Liz on that note, weve got the fireworks. Nicole with the dow 26,000 hat. This is the fastest 1,000 point move in history. Yes, folks, we did it. Dow 26,115. A gain of 322. Records abound. Let me get on after the bell. Ill see you tomorrow on the claman countdown. History on wall street, you want to check your 401 k surging today. Its too much. We should have more than fake one fety. Look at that. 323 points. Unbelievable. Closing above 26,000 for the first time ever. It only took eight trading days to get the brandnew milestone smashing the last record in 23 days. The s p and the nasdaq also ending a new alltime high. Im melissa francis. Im david asman. Wow is the word of the hour this is after the bell, so glad you could join us, a very historic day, straight to Nicole Petallides on the floor of the New York Stock Exchange fo
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