The hedgefund closes its doors after the industry veteran says he lacks commitment. What is going on with sidecar . The uber rival fails to get off the starting line as the ride sharing business backed by google and Richard Bransen says it is shutting down on new years eve. Here we are. A second last session of the year. Lets check in on futures and what theyre imlying to the u. S. Market open coming off the 1 rally. Its in line with fair value so were priced lower for the s p 500. Giving back free points at the open. Dow jones industrials called down by 17 points and the nasdaq. Were above fair value. Called higher by 2 points. Heres the rally we saw yesterday. 5 billion in trades being priced yesterday which is in line with Christmas Day and thanksgiving day. So the Dow Jones Industrial up 1 . S p 500 with the 1 rally. Positive territory for 2015. Lets see if we hold into the years end. As for technology because that was what was powering u. S. Shares yesterday. The likes of apple. Amazon alphabet. 15 year highs but thats not translating through to the european session. We saw a mixed session for the asia pacific and thats what were getting here during the european session. Ftse 100 seeing declines and then the cac 40 losses of a tenth but elsewhere as you see, squeaking out some gains today. Thanks, indeed for that. Peter fitzgerald is with us. Head of multiassets at aviva. Good morning to you. Good morning. Lets get a top down. What kind of start for 2016 do you think well have at markets. When you look forward to 2016 one of the Big Questions is what is going to happen to u. S. Rates and what the fed is thinking. And the Market Expectations are denine in pricing in two Interest Rate prices by the u. S. While the fed is saying theres going to be a gradual increase in rates but probably four rate rises. Theres a disconnect there and thats one of the key drivers across markets next year. One of the critical questions is to try to understand exactly why the fed moved when it did because people still look at some of the Economic Data and say it was questionable whether they needed to go given where we are with inflation at the moment. So is the fed looking more aggressive on the rate cycle because theyre trying to do a confidence trick on investors and say growth is more robust than it appears to be. Have confidence to put money to work because theres a big question mark as to whether corporate earnings will get better or worse in 2016. A lot of people thinking there will be further downgrades. Theres a number of questions wrapped into that. Into that statement. So if you look at growth, its reasonable in the u. S. Unemployment is reasonable. You have score inflation in the u. S. Now at 2 and slightly higher and if you actually take that core inflation in the context of oil price which is have collapsed i think the fed is probably not wrong to start to raise rates. When youve had zero Interest Rates for 7 or 8 years people are accustomed to that and assume its the norm. And theres the expectation that the boj will print more money and same thing for the ecob but its going to be a high hurdle to clear in order to start that process. I think one of the key themes as you look forward to next year, going back to your question, youre going to see an increase in the divergence of monetary policies between the European Central bank, the bank of japan, and the fed. Where as during the financial crisis, they all acted in the same manner of where they slashed rates. Engaged in various forms of qe. The ecb much later than others and as you start to come out of the crisis youll see a divergence in the policies ooechbd and even if they dont do more qe we also believe japan will probably do some form of additional st stimulus but theyll not start to raise rates. Peter youll stick around for the whole hour with us. Thank you for sharing your time. Lets give you a run down of what to expect. November pending home sales are due out at 10 00 a. M. Eastern time. These track signed contracts. Theyre a leading indicator of housing activity and 10 30 a. M. The weekly u. S. Oil inventory report. Expecting a decline of around a Million Barrels but the American Petroleum institute off showing a surprise build of close to 3 Million Barrels. Lets have a look at the top stories kicking around this morning. Carl icahn can get another victory. Bridgestone wont counter his offer for pep boys. He sweetened his bid for a second time on monday to 18. 50 a share. That values the company at about a billion dollars. Pep boys board said that offer is superior to bridgestones. Icahn said it would be a perfect fit for auto plus. A rival that he owns. It rose nearly 9 on tuesday but fell 3 in after hours trade. Were going to borrow a line from queen this morning. Another one bites the dust. Another hedge fund is closing up shop. Doug hurst closing seneca capital. The firm returns most of their outside capital on tuesday. Its an Event Driven Fund making bets on corporate mergers, spin offs and restructuring. Theyre only down 6 this year but in a letter to clients, a r cofounder saying he can no longer make the commitment to run outside capital. Meantime its been a bruising year for hedge funds as a whole but will they fair any better over the next 12 months in 2016 . Kate kelly filed this report. 2015 was a rough year for hedge funds with almost 0 returns for the year as of mid december. With consolidation and closures as well as more predictable stock and bond picks. Here are three things to look out for. Many investors notified hedge funds of their intention to pull out capital and theyll have it back by january 1st. That means a decline in total investable assets that already saw the biggest down tick since the financial crisis. With regulators bearing down on hedge funds and expectations on performance increasingly tough to meet, expect to see some funds turning themselves into family offices. Managing money for family and employees only. Big players have already set the trend. And dont expect long shot bets like a billion dollar short or herblife or beaten down stocks in the coal sector or sovereign debt perhaps. Theyll return to what they know. Straightforward activism and buy and hold strategies. Ambec financial is warning puerto ricos governor over what it says is his illegal plan to die vert revenue from rum taxes to meet the financial obligations. That money is pledged to puerto ricos infrastructure authority. Earlier this month they granlted the territory the power to take revenues from public agencies through claw backs. Puerto rico faces a 1 billion debt payment on friday. A Fairchild Semiconductor received an offer to buy the party which topped its deal. It is identified as Party G Group and reports say that party g is actually China Resources microelectronics. So 21. 70 a piece values fairchild at 2. 46 billion. Theyre reviewing the bid but recommend that shareholders back the deal they already agreed upon. Rising some 3 in after hours trade. Over in frankfurt were up close to 4 now. So some of yesterdays gains in the oil price getting unwind. Crude prices continuing to slide. Wheres the bottom for this market . Well take a look at the opportunities that may be on the horizon, right after this. While youre watching this, im hacking your company. Grabbing your data. Stealing your customers secrets. Theres an army of us. Relentlessly unpicking your patchwork of security. Think youll spot us . You havent so far. The next wave of the internet requires the next wave of security. Were ready. Are you . U. S. Futures point to a lower open after they helped push the s p 500 into positive territory for 2015. Carl icahn triumphs. Bridgestone wont come back with a counter offer for pep boys and play time is over. Toys r us closing down its giant flag ship store in new yorks times square. Yeah, another commodities Trading House in the news. Nobles Credit Rating downgraded to junk status by moodys. This move comes despite efforts to try to maintain its Investment Grade status by shedding assets. The ceo is hitting back at moodies in a note to its staff. He says it seems they werent able to differentiate between an environment clearly challenging for upstream players and one that opens up opportunities for an asset like trader like ourselves. The stock is down 65 but also being hurt by Iceberg Research earlier this year of inappropriate accounting they say. Lets have a look at the Energy Prices and api data showed inventories crew by 2. 9 Million Barrels last week despite analyst expectations for a decline setting the oil market up for further losses. This after gains during the session due to the cold weather outlook. Thats where we are on the brent trade the russian finance minister says this morning he thinks 40 barrel is where well average on the wti price this year. That seems top end given what were learning about supply gluts around the world. I think when you try to predict oil prices the world is littered with people that fail to do so and broadly our view on commodities is that theyll remain lower for longer than people expect. If you consider that the median bear market and commodities has a duration of about 17 years, and you assume that were in somewhere around year three or four and you probably have a longer year to go and the world needs to prepare itself for the environment where those Commodity Prices remain substantial. So were in a bear market for commodities. We have been in a bare market for commodities for the last three years. So 20 barrel . I think theres a range of estimates around oil and our view is that they will probably head lower rather than higher and theres an unwillingness to cut supply. Demand that is increasing very slowly are actually declining in some areas and its difficult to see what the catalyst is going to be rather than some short form of interruption for that to bounce. Last year when we were starting to see this oil story unfold many people got excited about the trade in those countries that are heavily dependent on energy from elsewhere and yet it hasnt played through as sweetly as one might have hoped. It hasnt driven people into markets like india or indonesia or others that are sensitive to the energy price. But theres other areas that you can say there have been beneficiary. So when oil prices go from 100 to 150 people get worried and theres going to be losers there so there has to be winners. It cant be in both directions. Transport lines, cruise lines and some of that is the Consumer Spending so there have been winners but they take longer to play out, a realization that these oil prices will remain lower over a weird of time. Walmart has not had a great deal. Plenty of retailers have struggled this year and its hard to see that that wind fall as you describe it has really played through. Its more bricks and mortars that are in trouble where the likes of amazon doubled on the year. Arent retailers and consumers going more online . Its the trend of the millennials and how they shop. Youre seeing a substantial move to online retail. Amazon is a particular story on its own given the very lofty evaluation. I think the forward looking pe estimates are over 300 at the moment. Its probably a particular case in question but youre seeing it even in food retail in the u. K. Where you have stores like tesco are struggling because of that move online so to highlight just walmart is probably looking backward rather than forward. I just struggle with the whole idea that dot com good and bricks and mortar bad. Its interesting when we talked about side car, you have uber, you have lift, you have side car. These unicorns were just meant to be good for some time to come. Its a story that people felt they could get and now its a business rather than actually growing from here. Old fashioned things like profits and management expertise and ability to execute still matter. I fully agree. If youre really looking for the valuation anomalies you look at bio tech. You strip out the Top Ten Companies in that index and the rest are not making any money. Okay. Well were going to talk more about Technology Since they were the out performers yesterday and really for the year. Lets get the latest on the fight against isis and we are striking at the head of the make. U. S. Defense officials have taken out another isis leader that had links to the man behind the attacks. He was killed by a targeting air strike on december 24th. He is a spokesperson for what is called Operation Inherent resolve saying that the isis leader was actively planning additional attacks against the west. Closer to home, a british couple has been convicted of plotting a terror attack in london. The husband, Mohammed Raymond drew attention from the police when he sent out a tweet asking for advice on which targets he should hit. The 25yearold man was planning a suicide bomb attack on Westfield Shopping Center or the capitals underground network. His wife helped acquire the stock pile of chemicals found at their home. Well take a breather here on Worldwide Exchange. But still to come on the program as donald trump kicks his Campaign Spending into full year, another president ial hopeful decides to call it quits. Well head out to washington for the very latest. The italian Prime Minister says he would render his own political career a failure if the referendum over constitutional reform goes against him. He has been campaigning to abollish the senate. It spaszing through parliament with the vote to be held in october. Meantime, mateo renzi. He seems to enjoy it every time i give it the extra italian flourish. No Systemic Risk for italian banks in his words as the government comes under fire for contributing to a 3. 6 billion euro bailout for local banks that hurt more than 10,000 shareholders but italy has too many banks and consolidation is necessary. Then there were 12. Former new york governor George Pataki is dropping out of the u. S. President ial race. Hes the fifth candidate to bow out and fourth governor joining rick perry, scott walker and bobby jindal. Meantime, donald trump says he will splash the cash to ramp up his campaign. The u. S. Republican candidate plans to spend 2 million per week on Campaign Advertising and promised to tone down his rhetoric if he was elected president. Speaking at a News Conference yesterday, trump, he sounded moderate. Whether youre a democrat, liberal, conservative, republicans, we just want to make our country great. We want to take it back and create jobs. We want to have a good living. We want to live well. We want the wages to go up. We want to go out and do a good job and work. Lets head straight to washington. Edward lawrence is standing by. I guess donald doesnt have to pay for advertising since the networks give it to him for free. So far he has not. He only spent 217,000 total on radio ads and some are saying this might be the wrong move. Having donald trump do a conventional campaign might not work for him going down the road because his campaign has been so unconventional up to now and hes doing so well on the polls. A new poll showed that donald trump if the election were held today would be in a dead heat with Hillary Clinton if she was the candidate and he were the candidate. Hes doing well in the polls here which is maybe why hes going after former president bill chin on the. Donald trump saying that he, former president bill clinton is actually the sexist one. Where Hillary Clinton lead with the charge that donald trump is being sexist toward women. Thank you so much. Edward lawrence there in washington d. C. Lets get you an update of whats going on with fifa. Espn invited the five fifa president ial candidates to take part in a televised debate. Five candidates are in the running to replace sepp blatter. The goal is to provide a forum for open transparent discussion about the future governance of the sport. The election is set to take place on february 26th. Okay. Well leave you with a look at how futures are trading ahead of the open on wall street given that we are looks like we are pushing ever closer to a positive end to 2015. Hello, everybody. Good wednesday morning. Lets take a look at your headlines. Oil is spoiling the party in europe today. Stocks are trading lower in the second to last session of the year. Being dragged down by commodity stocks. This is wti falls close to 4 so far. Record highs from tech giants amazon, alphabet and microsoft help drive the s p 500 into positive territory for 2015. Were going to channel some queen today. How about another one bites the dust. Hedge fund seneca capital closing its doors after doug hurst says he lacks commitment. Sidecar fails to get off the starting line as the ride sharing business backed by google and Richard Bransen says it is shutting down on new years eve. Here we are. Last trading session of the year of 2015. How does that feel to you . Its fast. The year has gone by pretty quickly f youif youre just tun thank you for joining us. We have the s p 500 now back in positive territory for the year. Meantime the implied open is telling us were pretty much in line with fair value. The implied open for the s p 500, were called down by 1. 5 points. Dow jones underperforming fair value. And the nasdaq is pricing in advance of three points or so. Heres the lead from the european session. Its mixed out there after the mixed close in the pacific rim overnight. Ftse 100 down by a third. Meantime the french, cac 40, flat now. Coming back from losses earlier on in the session and ibex 35 in spain, were up about a fifth of 1 of so. Its been a grim end to the year for a lot of people. Four days of storm across the midwestern United States lead to severe flooding in missouri that killed at least 13 people and forced hundreds from their homes. Also closed hundreds of roads and halted shipping on the mississippi river. The governor warned that even though the rain had stopped the threat had not ended saying that communities along the mississippi could still be in danger as waters continue to rise. Meanwhile, further damage expected in flood devastated areas here in the u. K. Storm frank dumped several more inches of rain across scottland and northern england. Theres four severe flood warnings in place indicating a danger to life and an additional 84 warnings across the area. Wind gusts in scottland reached 80 Miles Per Hour overnight. While the storm is expected to bring an additional six inches of rain. They estimate the initial cost from the understooding could reach 5. 8 billion pounds. Later on this wednesday we do have some Economic Data points for the markets to digest. That includes u. S. Housing numbers, one of the few giving markets direction this week. Looking at home prices rising by 5. 2 year on year in the month of october with growth also accelerating versus the previous month. Now according to analysts, tight supply, also good Economic Conditions there. The key contributors to higher prices. San francisco, denver, portland recording the strongest gains. London and hong kong, well take a look at the Global Real Estate picture is more obvious. Real estate global hotspots but have you ever thought of Property Investments in istanbul or melburne australia . Head to cnbc. Com for a shied show that looks at which housing markets staged the biggest gains in 2015 and which ones you should watch out for next year. Back to the markets. Were looking at pretty light volume for wall street. 5 billion worth of trades just yesterday but with yesterdays advance we are in positive territory now for the s p 500 and the dow is just. 5 away from that. Lets bring back in our guest. We were having this discussion peter but fully valued assets, really, globally. Yeah. So i think on a forward looking basis its never easy to predict what the future is going to bring or where to allocate your capital. Just because stocks are fully valued doesnt mean youre expected return is going to be negative. It just means it could be a lower positive number so if you look at the s p today and you make an asumsumption that earnis are 100 or 101 dollars that would say theres another 5 to 6 return. Im wondering what does it say about the markets right now when warren buffet has his worst year since 2009 . Markets, its never easy to out perform markets on a consistent basis year in and year out. There will be times where every manager underperforms and the key is to just understand that maybe your style is not particularly in favor during that particular time. Its interesting that where he has done okay has been in real businesses. And unlisted assets. Thats where the property story comes in. A lot of people have decided i think to check out of listed assets and have decided that property is a place that is preservation of capital story but also has the opportunity for capital appreciation. You also need to factor in the running cost and carrying cost of the fiscal assets and property returns are enhanced in the residential space by the impact of leverage. You can go out to your bank and borrow four times your salary and put it into a house. If you want to borrow four times your salary and put it into the equity markets i dont think many banks would fund that for you. But the leverage has been there because corporates have gone out and gorged on borrowing in the Capital Markets to buy back their own shares in the u. S. That has been a strong underpinning for u. S. Equity Market Performance over the last 18 months but at some point in cash flow is going negative now in u. S. Corporates some of that will become a story that dies. One always has to factor in the risks associated with any particular investment and when you build a portfolio you can never build it in such a way that its only going to do well in one outcome. You have to ensthure you have a number of differ positions that will do well in the negative environments. One of the biggest risks is probably not this year when i say this year i say the first six or seven months of next year its probably after the fed raised rates 3, 4, 5 times and Interest Rates starts to rise and the funding costs increases and therefore its more difficult to buy back those shares. But i dont think thats a story for the next six to eight months. We now have the two year yield at 110 basis points. The highest since 2010. Is this the year where well see an unwind in Government Debt and it going elsewhere. Thats difficult. We long predicted the unattractiveness of Government Debt however theres huge structural buyers of Government Debt and forced by regulation. If youre a bank or Insurance Company you have no choice but to buy Government Debt. If our portfolios where were not forced to do these things well stay away from the markets and broadly would tend to be short u. S. And u. K. Front end rates given that potential raising of rates. Peter, thank you for your time today. I hope you have a good new years eve. Were going to talk about toys r us because apparently there are just a few hours left to be a toys r us kid in times square, in new york city at least. The retailer is closing its massive flag ship store and when i say massive, were talking about 110,000 square feet in times square. The company decided not to renew its lease on the space. It has a 60 foot tall indoor ferris wheel. Have you taken your child . No. Well it might be too late because theyre shutting it down but 60 foot tall indoor ferris wheel. Anyway, earlier this year a Real Estate Broker says rising rents are forcing them to look for a new location in manhattan. Rent on the ground floor alone is around 2500 per square foot. Per square foot. Wow. Data from mastercards suggests maybe there was healthy sales growth in the lead up to the Holiday Season but are the good times going to last into 2016 . Courtney reagan reports. If retailers think the unusual hi warm winter is problematic. Watch out for spring. Weather experts predict as el nino turns into la nina it will be a cold spring. Bad for margins. Good for deal seeking shoppers. Some retailers have already taken the plunge and raised wages for hourly employees. Its only a matter of time before competitors will have to follow suit and while some argue it helps by putting more money into americans pockets its a big expense for retailers. And adds downward pleasure to sales prices. Even though retail stock valuations contacted this year the sector has been largely left out of the record year for global m a leaving consolidation a strong possibility in 2016. They call out hanes brands, Signet Jewelers for creating m a next year. So lets talk about sidecar. Still to come on the program, is the ride over for one of ubers smaller rivals . Aparentally they just couldnt deal with the competition. Well spend a bit of time talking about the sharing economy when we come back. But your passengers smell this. Eliminate odors youve gone noseblind to for up to 30 days with the febreze car vent clip break out the febreze, and [inhale exhale mnemonic] breathe happy. Try align for a nonstop,ive sweettreatgoodness holdontoyourtiara, kindofday. Live 24 7 with 24 7 digestive support. Try align, the undisputed 1 ge recommended probiotic. Were back. This is Worldwide Exchange coming to you live fr. Sidecar decided to get out of the ride sharing business. Lets get an update from landon dowdy at cnbc headquaters. The start up will shut it down on thursday. It is a competitive advantage. Launched in 2012 it offered service at more than a dozen u. S. Cities including new york, l. A. , boston and chicago. It was the only app to show passengers the cost of a ride and let them shoes drivers based on price. It also didnt raise shares during peak demand. In february side car launched same day delivery of food, flowers and other goods and teamed with yelps 824 service. Sidecar was founded in 2011, a year after uber. He and his partner are calling the start ups end a bittersweet victory and plan to lay the ground work for the next big thing. They have 39 employees not counting drivers that will be assigned to other projects they brought in about 1 billion. They still face challenges out side of the u. S. They can hail rides from each other. He became a lead investor in uber the following year and didnt provide capital. He invested in 2014. He said sidecar can take on the big guys with big ideas and not just bank accounts. Apple set to pay 318 Million Euros as part of an italian tax fraud probe. It confirmed a deal has been reached but will not comment on the details of the settlement. Apple shares down by. 5 . In line with the losses across the broader markets. The private swiss lender advised u. S. Clients on how to pay tax. The case is expected to be resolved in the First Quarter of next year. Theyre still on track for a full year net profit. Lets talk about facebook and fb crossing a 300 million market cap. A u. S. Judge certified two shareholder class action lawsuits though against fb. They accused the social media giant of hiding concerns about its growth forecast ahead of its ipo in may 2012. So the judge says that those that say they lost money by buying facebook shares at these inflated prices may pursue their claims in perspective groups. Facebook will appeal the ruling. Good wednesday morning, lets get to the headlines. U. S. Futures are pointing to a lower open today after amazon, alphabet and microsoft helped push the s p 500 into positive territory for 2015. Carl icahn triumphs and bridgestone wont come back with a counter bid for pep boys and play time is over. Toys r us closing down the giant flag ship store in new yorks times square. Two isis militants have been arrested by turkish police. This siting the state run news agency. Authorities nabbed the suspect in a raid on a house. The agency says the attackers were planning to detonate suicide vests at two locations in the capital. All right. Lets quickly check in on u. S. Markets since we are look at the second last session of the year. In 2015. Boy, time flies. The s p 500 thanks to yesterdays 1 rally, were back in positive territory. The implied open is telling us well be flat when markets kicked off. The Dow Jones Industrials priced lower. The nasdaq with gains of 2. 5 right now. It was all about technology that propelled the stock markets in a very low volume trading session. So amazon and alphabet at record highs. Amazon doubling on the year up 100 plus. Microsoft, 15 year highs. And still the Largest Company by market cap in the u. S. European markets are following the lead in the asia pacific instead. Its a mix out there. German dax also declining mild gains for the like of the cac 40 but that rally over on wall street didnt really carry through, did it . No. Twitter which is already under fire for the lack of women and mireties in its ranks is stirring up more controversy. Its hired a white man as its new diversity chief. He lead similar efforts at am. He cofounded an lbgt Advocacy Group in the business community. Jesse jackson is disappointed by the choice and while we stick with the social media story, julia filed this report on the new features that social Media Companies are likely to roll out in the year ahead. Lets take a listen. In 2016 social media will play a bigger role in our lives than ever. Messaging apps will take on more than just texts and voice calls as books messenger is a tool for its 700 million plus users to take care of business. From scheduling a repair visit, tracking a return to a retailer, monitoring a delays flight or making a restaurant reservation. Meanwhile, whats app will start to make money by giving a platform to communicate with consumers. Book, instagram, twitter, and youtube all step up competition for premium video. Live stream content and articles. As they all push to get consumers to watch and read within their apps instead of clicking elsewhere. Social media will make a big play for retail dollars. The buy buttons introduced will go mainstream in 2016. Facebook will ramp up Ecommerce Services for Small Businesses and all the social players will look to make sure that consumers can get whatever they want without having to swipe away. So we were talking a lot about leadership and how narrow the leadership has been and Large Tech Companies have been driving that and the socalled fangs as they have been called but we should probably also have a look underneath the rock and there are some stories that have been less interesting this year or less positive, shall we say . And i think twitter, were still about half where we were on the share price before we got those difficult First Quarter numbers and then the other one is yahoo . What happens to yahoo from here . Marissa myers efforts so far just dont seem to. Gotten people excited. No, because theres in which direction is she taking the company . Werent they going to spin off the alibaba stake . Its now reversed but twitter is still not making money and losing users. Its a loss of users now for the blue bird. Makes you think where trends are heading. On the flip side, facebook continuing to power ahead. 300 billion company and theyre continuing to ramp up and some say if you want to look at social media, snapchat might be a name for 2016 if they do ipo. I always defer to my 13yearold daughter on this and she spends time on instagram and she spends time on snapchat which i really dont be worried for me here i do monitor the activities that are taking place but not book. No time. Which i dont know whether that just tells you something about the futures and whether kids now feel that facebook is about the generation that they dont want to connect with. No, ive heard that. Its only dinosaurs like. Are you on book because youre not on twitter. No. No. I have just no. I kind of lurk on twitter. But for the new year we might actually make that official. You twitter lurk. Should we talk about bees . Should we wrap up on bees. Why not. Its unbelievable. It is. So two large beehives Holding Around 30,000 bees have been stolen from rural ottawa. The bizarre theft has set social media abuzz but the story has a sting in the tail. The story bees are now feared dead unfortunately. The owner of the two stolen hives believes the 30,000 bees are unlikely to have survived after being disturbed during their winter recess. You like that story, dont you . I just its sad. About the bees. Lets just hope that the thieves got stuck. Got your chance. Lets talk about the box office and the movies. Its been a record breaking year at the Box Office Thanks to hits Like Star Wars with revenues in north america topping 11 billion on tuesday. So star wars already crossed the billion dollar mark in just 12 days being open but 600 million being made in the u. S. And canada. Have you watched. I have. There you go. Although i vn seen 50 shades of grey. Furious 7 . No. Okay. There you go. I guess were done, arent we . Yeah. So where ever youre watching in the world. Thank you for tuning in. May the force be with you. Care of my heart. Thats why i take meta. Meta is clinically proven to help lower cholesterol. Try meta today. And for a tasty heart healthy snack, try a meta health bar. Thats why i switched from uverse to xfinity. Now i can download my dvr recordings and take them anywhere. Ready or not, here i come whispers now hideandseek time can also be catchuponmyshows time. Here i come cant find you anywhere dont settle for uverse. X1 from xfinity will change the way you experience tv. Good morning, deadly floods in the midwest. Swollen rivers in missouri are rising. Also the oil markets wild ride. Crude giving back much of yesterdays gains after an unexpected rise. Why, i dont know. In inventory numbers. A new call from Citigroup Says Oil has further to fall in the next six months. And a ride sharing app is calling it quits. Sidecar shutting down. Despite backing from siri chard bransen. Its wednesday, december 30th and squawk box begins right now. Good morning, welcome to squawk box here on cnbc. Becky has the day off. We do have the developing story in the midwest. Flood waters continue to rise. Responders move in to assist stranded residents and help evacuate those in flood zones. Major traffic disruptions today. The Missouri Department of transportation expecting another 8 feet of water to spill into the area of intertate 144 and 141 this morning. In st. Louis expected to reach nearly 15 feet above flood stage. That would make it the second worst flood on record. Were going to get a live update from missouri