Look at the s p 500 at 2978, a 55point gain and there is the nasdaq the outperformer yet again, almost 2. 25 , 200 points, 9387 the nasdaq, not all that far away from last februarys highs, which our headliner says this hour is going to happen this year and not just the nasdaq so lets welcome in fund strats tom lee. He is joining us via skype tom, welcome back. Nice to see you again. Thanks for having me. Big call. How are we going to get there this year, tom you say 3450 is happening . Yes, and i think what really drives our view is that companies in the midst of the shutdown arent standing still you know, theyre reengineering their operations, learning how to be digital, run with fewer employees and less real estate so in 2021, as we exit this pandemic, theyre going to generate higher earnings on a lower level of sales and that means implied better pes. And thats why we get into july, stocks will start discounting that and were looking for new high hi highs. Youre looking for a vshape
Chocolates part they will probably test a longrange missile in coming days. They have ramped up the rhetoric. There has not been much agreement between the two sides. President trump has met three times with kim jongun. Not much has come of that. Sidesly because both fundamentally disagree about what they want from each other. The United States is looking for a total denuclearization. Kim jongun will not denuclearize. He might offer some more inspections but he wants sanctions limited. Host President Trump has said he likes to sit down and talk facetoface. Yet previous president s have said we will meet but only if we have an agreement to begin with. Trump,i think president and i say this in my book, one of his advisors i quote, President Trump puts an emphasis on interpersonal relationships, they can certainly be helpful. Ultimately, diplomacy is about a countrys interest. If i have a friendly relationship with you, that is great. But if we are in a negotiation over fundamental things
Watch this holiday week on cspan. Former Vice President and 2020 president ial candidate joe iowa talked to voters in about his platform on agriculture and climate change. Former oined by a under theal secretary Obama Administration and former iowa. Atic governor of ladies and gentlemen, please bidene Vice President joe tom vilsack, the secretary. Cultural thanks so much for coming out tonight. Christmas. Happy holidays, happy hanukkah. Time we were here with our family, it was the hottest we were riding our bicycles up from where we we stayed at the hotel. Ate good food and then got on our bikes and went back. Its nice to be here in december. For coming out. And were Dallas County democrats, so were happy to [applause] they met joe biden when came to iowa to run for president. As i t them as much today did then. Solid. Ere rock go ahead and clap. E was rock solid then and hes rock solid now and thats why im supporting him in the iowa on february 3. [applause] so what do i want from th
Thatdominated yesterdays action, that along with chinas currency move. Overnight Chinas Central Bank setting the yuan mid point firmer than many expected. That happened at 9 00. We saw a turnaround in u. S. Equity futures which were down overnight as much as 600 points at the lows. Right now a positive open across the board. S p looking to be up by 11 points dow jones up by 102. The nasdaq looking to recoup 44 points as for u. S. Treasury yields, we saw a 2016 low also. We had the tenyear note at 1. 758 overnight we breached that 1. 7 level. A key level here. We have cnbc reporters everywhere this morning covering the Market Reaction to this escalating trade war willem marx is in london well get to him in a moment, but across the world to china. Eunice yoon is on the ground in beijing. Reporter china strongly opposes being labeled a currency manipulator. The central bank, which manages a floating currentry cy exchang rate called the move unilateral protectionist behavior that violates
[applause] [applause] oh come on. Good morning. Thank you for that warm welcome and thank you for being in person all the people watching on line or listening remotely we say thank you for joining us for the 2024 state of the state. Youve all been thoroughly welcomed this morning but i want to give a special shout out to a few people in the course ive got to start with first Lady Catherine and her family members she spirit their sister julie and her cousin lisa and watching on line to the rest of our rest of our extended families and their sons joe and tom and her daughter jesse and their extended families. When you serve your family serves with you so i want to be sure to at this time thank them for all their support in the seven years in todays a special day because its jesses birthday and so we need on a one, two, three everybody to yell happy birthday jesse. It will be the Largest Group to ever yell her birthday at the same time. One, 23, happy birthday jesse [applause] way to go.