the dow roller coaster isn t over yet. it s recovered after dropping sharply this morning and into the afternoon and then yesterday it surged more than 1,000 points even though the session before that was one of the worst christmas eves in the history of wall street. you following all that? morgan brennan is. she s co-anchor of squawk alley on cnbc. you can t make this stuff up. it s crazy. what s going on now? we re obviously thrilled to see it back in positive territory, but it looked like a disaster not so long ago. strap on your seat belts. another wild ride today on wall street. the dow is up 176 points may not seem like a lot after that 1,000-point gain we saw in the dow yesterday. that said, at the lows of the session we were down more than 600 points, the equivalent of 2% losses again today for the dow and other major averages. to see the dow and s&p 500 in positive territory. the nasdaq near the flat line is
an incredible comeback. there s not a lot that s changed in terms of headlines or fundamentals for this market. you still have the u.s./china trade risks, the fed and rising rates and worries about the global economy and whether you ll potentially see economic growth in the u.s. slow down. all of these are still swirling around. with the averages down 10% so far for december, perhaps not surprising you could even call it promising to see buyers coming back into this market in this final moments of trading. cnbc s morgan brennan, never a dull moment. thank you for coming on. appreciate it. that s going to do it for me. i m chris jansing. deadline white house starts right now. hi, everyone. it s 4:00 in new york. i m elise jordan in for nicolle. donald trump can t seem to get out of his way. even when he does the right thing like visiting troops in the combat zone for the first
more closer to being put in place. and of course what that s going to mean, what that s going to mean for our allies, what that s going to mean for a trade retaliation response. you re seeing that play out, industrials, names like boeing, caterpillar, all very exposed to tariffs. thank you, morgan. what is the long term impact of one guy leaving, gary cohn? for one, it means the chances for a full-blown trade war just went up. remember, trump campaigned against trade deals in general. he already pulled out of the trans-pacific partnership. he has already threatened to pull out of nafta. gary cohn was one of the voices inside the white house that talked tough to trump and convinced him to back down. but now the idea of america first is once again ascendant in the white house, something
morgan, again, in terms of economic news, the only bad news i know is that gary cohn of the i and i alone white house has left the building. what s going on? reporter: that s exactly it, you heard it from wall street investors, analysts, strategists, et cetera, the big thing here, as you mentioned, is the departure of gary cohn. the concern first of all, we ve seen a lot of volatility in the equity market for the better part of a month, month and a half now. the concern is with that departure, he was pro trade, against tariffs. this is a sign that president trump is very serious about moving forward with tariffs on steel and aluminum, what that could mean in terms of a broader trade war. we re down about 265 points on the dow, down 1% right now. the thing i would note is how the day starts here on wall street is not always how the day ends. a lot could unfold over the course of today. all right, thanks, morgan. i think it s not so much that
elizabeth warren join me from capitol hill. senator welcome, you sayer ready to debate this bill. what about the forgotten bank? dodd frank, the big banks like jp morgan, they can handle that. but the smaller banks can t afford those compliance regulations. if you help those smaller banks and they were able to make loans to those forgotten americans, can t there be a window here? stephanie, iffed this been a bill just about the smaller banks i d be all in and so would a lot of people in the united states senate. we have been offering for three years now, a bill that would help the small banks and really make some significant changes for them. that s not what this bill is. this bill offers a few changes for small banks. the price of that is to sock