Good Tuesday Morning welcome to squawk alley. You saw a live shot of north korea last hour, not south korea. We know the difference it is important to know the difference now a new year in hong kong, beijing, and taiwan. Heres a live shot of celebrations in hong kong. Theyre having a light show. No explosions in hong kong the last trading day of the month, the year, and the decade. I am jon fortt with me at post nine, again, Morgan Brennan and deirdre bosa. Carl has the rest of the decade, carl, take it off. If youre going to have a light show, hong kong is the place to do it with all of the buildings. Yes well begin with whats been a record year for tech it is on pace for the best year in a decade with the nasdaq crossing the 9,000 mark earlier. Household names like netflix led the charge, up more than 4,000 in the last ten years. What stocks are poised to make their own run in 2020 . Joining us now with some answers or some guesses, gene munster of luke ventures, john freeman of cfra
And bob pisani at the New York Stock Exchange hey, robert. Hello there, old friend narrow trading range were down second day in a row, but a small trading range. 16 points in the s p 500, maybe 200 points in the Dow Jones Industrial average the nasdaq, though, is eking out small gains. The dow gainers for the month, theyre still the gainers for the day. Look at apple, look at nike, look at sisco, all up on the month. The laggards, its interesting, the ones that are down in the month of december also down today. Boeing had a tough month even disney. They topped out the beginning of december, 153 now, 143. Visa ending down today a little bit here that was a big mover all throughout the end of december the one sector i would point out to you is the Energy Sector. Oil exploration product up again today. And you know all of those really beaten up small Exploration Production companies, witing, southwestern, all terrible year, terrible three or four years since the tax law selling seemed to
Think it is in the next 20 years a Million Dollars a coin comes after s. E. C. Chairman jay clayton put out a cryptocurrency warning saying if an opportunity seems too good to be true, exercise extreme caution. Not every day you get Something Like that from the head of the ftc. Wheres your thinking on bitcoin prior to this runup and now that it has gone so much higher . I think bitcoin is basically an inverse mistrust index, and that is as we lose faith in institutions, it goes up a prediction, if roy moore wins the election today, bitcoin goes uptomorrow its young people saying they have no faith in our institutions or is it kim jongun making good and getting around all skien kinds of International Chaos chaos is good for bitcoin economics fail throughout history, so if you dont believe in the federal reserve, buy bitcoin. Its sort of a mistruster, to your point, john, chaos process. What about the concern that some have that these are nonsophisticated investors that are really drivin
And im melissa lee coming to you live from the emerge conference here in miami it is the tech event of the americas with us on the today ai social media navigating the tech world right now cofounder weighs in move over Silicon Valley and alley for that matter. Why miami may be becoming the next hightech zone. Welcome im becky quick. Lets take a look at how markets are trading now. Green arrows with the dow hitting an alltime interday high the dow up 82 points s p up by ten points the nasdaq up by about 40 points by the way, nasdaq is up for the first time in just three sessions after some rough days apple, netflix, amazon and facebook are all trading higher and materials are the second best performers today led by cf industries, Martin Marietta and sherwin willia williams ron barron striking an optimistic tone this morning about markets and the economy. With lower are Interest Rates than we think and Lower Oil Prices than we think, we think the economy will grow much faster than it wou
About asking for a raise, now may be the time. Todays employment report showed a pickup in average Hourly Earnings, as businesses raise pay in order to attract a smaller pool of available workers. According to the Labor Department, the economy added 161,000 jobs last month. The Unemployment Rate ticked lower to 4. 9 . Average Hourly Earnings rose. 4 to the fastest annual pace since the end of the great recession. Hampton pearson has more on the last jobs report before the election, and what it may mean for wall street, main street and the fed. Reporter there was an october surprise in the final jobs report before the president ial election. A pay raise for american workers. In the last 12 months, average Hourly Earnings up 2. 8 to just under 26 an hour. The biggest pay raise in seven years, according to the Labor Department. The workers have been looking for a meaningful raise for quite some time. They deserve that raise. And were seeing this sustained evidence theyre getting it. Repor