Ceremony to boafs their legislative accomplishments. President trump held it in his oval office to insure he passed it by christmas. President trump ill sign this today instead of having a formal ceremony in two weeks because i didnt want folks saying i am not keeping my promise. I said the bill would be on my desk before christmas, and you are holding me literally to that. Charles can the Trump Administration keep this going . Gina loudon, a member of the donald j. Trump Advisory Board and deneen borelli, what fox news contributor. A major accomplishment for President Trump. And he goes into 2018 with a whole lot of wind in his sails. He does. The feels like all of america has gotten on board. The Corporate Support that has been given back to the American People for what has happened with this tax bill its a great day in america and everybody should be celebrating. This will affect everyone in 2018. This gives us something to look forward to as we go into the new year. Charles immedia
Research revealed security flaws in chips and crude prices hit the highest level in three years reaching heights not seen since the slump in oil boosted by ongoing tensions in iran all right. We have got the composite pmi Services Number for eurozone, came out slightly higher, 58. 1 expectation was 58 thats higher than the last number of 57. 5 i think this takes it to the highest level since april 2011 so still really strong numbers coming out of eurozone here. Switching to European Markets. Lets look and see what the picture is like for trading this morning. We did have an extremely strong session in asia overnight. Ill get into that in more detail shortly the u. S. Main three indices making new highs again another session where s p, nasdaq and dow jones made new highs. The momentum is continuing into europe you can see the stoxx 600 is opening up about 0. 5 stronger thats a strong open for european equities. You can see its broadbased every index in the eurozone and in the uk are all
The dow, s p and nasdaq all now negative for 2018. Thank you for being with us tonight, everybody lets begin with guy adami guy, after a week of reckoning for stocks we are left with a hard question. Is this a healthy run of the mill correction . Or the start of something bigger, perhaps a bear market . Because i can say that thousandpoint drops have really never happened in the market unless we have a serious, serious issue. We have never been this high. To tims point. And you know this, yes, at 27 n. O. W. In the dow 1,000 points is obviously different than at 15,000 in the dow. Obviously it creates headlines because it is a significant number for context, though, the levels where we are now in the s p and the dow jones is where we were at thanksgiving. At thanksgiving everybody was talking about how great the market was number one, im not dismissing whats going on. What i think is happening here, clear of what everybody has said, volatility has taken over. Stocks have become Collate
Plus, infamous short seller andrew has a new target. Why he thinks the bitcoin is one of the most dangerous trades in the market apple making it official sending out invites for the big iphone 8 unveiling with the stock up 10 just in the last month, will it be a news event we start off with drugs and money. Health care, the best forming record, now the second biggest sector of the s p 500. Big pharma, and big biotech, check out moves in the names like pfizer, bristolmyers, eli lily, plus gilead continue their run. So is health care where you want to be right now . Which is the better bet . Big pharma or big biotech . I got myself in trouble last time no, no, i permit you to answer the question open its a is it a plug . Yes i think we sell. Biotech over regular tech. Its proven to be right at least for 24 hours but weve got to whittle it down ill play the whittle it down game with you. At this point in the cycle, i would go big cap pharma. Not to suggest that biotech is done by any stre
Later, fake news is the biggest threat to tech right now. Kara swisher will join us to tell us how bad it will get. One group of stocks is in overdrive, that would be autos toyota 4 , ford up 6 , gm up 9 . Fca up 33 the question is simple do you fade or trade i would say fade. Im sure ill get pushback from my point of view, Ford Motor Company went from 10 1 2 to 11 1 2 without question over the last four, 1 2 4 1 2 years. Gm, a little different i think both stocks need to prove themselves in the case of gm its over 40 in the case of ford, 12 1 2. I would rather wait for the break to try to buy it the pushback is, gm continues to execute theyre growing their gross margin the stock is getting cheaper and cheaper. This is more about a sector that the jury was absolutely out on now that were in hard times, just because we hear, when in fact these guys have been profitable, you take this run at gm, in fact it makes sense to me the stock is rallying when news is bad because it wasnt rallying