Wall street welcome better than expected reports on the economy and more progress o trade. And once again, the gains may have bee slight, but it was stillood enough for more records. The dow a tayrages just a feign of 31 points to 28267. Nasdaq rose about 9 and the s p added just one point but closed higher a fifth straight session, the longest win streak in a month. Bob pisani starts us off tonight from the new yorkck s exchange. Stocks back in record ralmo s p 500 and ow nasdaq closing at new highs the bare 30th record close of the year for the s p. Whats fueling theal rly no major headlines today but the bulls sck with the story o more clarity heading into the end of the year and particularly into 2020. Interest doesnt appear to be a recession in sight in the u. S. E omy. Thats the most important. Look at the data toda instrial production rebounded innovember. Auto production picd u after a nationwide strike ended at jern motors. Housing startslso jumped last month with Single Famil
Outlook. Congress is on track to pass two massive spending bills averts a Government Shutdown and new data shows Home Building increased more than expected in november and permits for future Home Construction surged to a 12 1 2 year high. Joining us for the hour, is keith bliss from i hue capital llc. The Housing Starts number comes in, just one more optimistic data point on the data front and i think despite trading on the alltime highs, this market is still poised to go higher thats my belief what drives that . Theres lots of factors, which i know well talk about during the hour. But the continued strong Economic Data that were getting out of here, a very compliant and easy money fed that we have, theyre expanding their balance sheet. Low inflation around the world the need for capital to go where it gets rewarded and seek yield. All of these things, you throw them into the mixing bowl. Once again, all three of the major averages higher. Only slightly higher, but anything positive is
Negative year in five years. Plus, new highs in striking distance stocks set for what would be a muted open after another round of wall street records. And the shipping wars, amazon blocking sellers from using fedex ground for prime fedex does report tonight after the bell lets kick off with boeing, though now on track for four straight declines the Company Confirming it will suspend production of the max beginning in january as regulators make it clear they will take their time in approving the jets return to service. Boeing says the decision is driven by a number of factors including the extension of certification into next year southwest, jim, is delaying return until april now thats the second delay in two months. They cant get this right and throughout this, the thing that people talk about, speak to large Money Managers look i do, we cant move the move this to 400 this thing gets through, we cant. Well stand there and buy the stock. Not going to let it go under 300. We want every
Backdrop for good couple years. Only now are we seeing it pop up. Am i missing something in the president s poll numbers . I think youre right, neil. Always been there. The economy is in good shape, right . Not spectacular shape as many some of the president s defenders would say. It is in good shape. Unemployment seen recently down 50year low. Market likes it. That is a pretty good backdrop from president running for reelection. I think what making it particularly powerful for him, he is up against candidates of a party seems not to just be replacing the president , seems, democrats have been going through this process, talking about replacing nature of the u. S. Economy. They are proposing many of them, pretty radical transformation. Some more radical than others to be tear. Medicare for all, wealth tax, significant regulation. Neil least among them has dramatic plans to raise revenue. Were talking even in joe bidens case, 3. 2, 3. 4 trillion over 10 years. So the challenge i think f
Cutting back production of the 737 max. Could announce a decision as soon as today. The board began a regularlyscheduled meeting yesterday that is set to continue today just last week the head of the faa told us right here on squawk box that the 737 max wouldnt be cleared to fly before the end of the year u. S. Regulars then warned boeing that it had been setting Unrealistic Expectations for the jet to return to service further Production Cuts would inflate boeings costs and take a toll on Financial Results as fixed expenses would be split among fewer planes the ability to effectively amoretize all of those costs and would also be a real pushback on the company and on the companys ceo. To me, if there really is a production halt, then theres going to be a succession story that i think we havent had yet. The Ripple Effects of what that means not only for boeing but all their suppliers along the way. Thats a much the reason you halt it, i mean, youre just blowing money if you keep making