Brennan and jon fortt. Markets have been well off the highs. Dow was up 937, trying to hang on to about 400 points on the dow right now. Lets bring in mark mahaney of rbc, david lovevitz of jpmorgan. We knew 2700, 2750 would be a bit of a battleground and its turning out to be exactly that yes, exactly. One of the things thats occurred here over the past couple days really over the course of the past weekend is you finally saw consensus earnings system begin to come down and the narrative that had been in the Market Equities are looking cheap, the question we were always asking was cheap relative to what earnings . When you use the new estimates that are around 145 a share, you know what youre seeing is stocks are looking fairly valued not outright cheap and i think thats a big part of why were seeing things run into resistance at these levels mark, its a great opportunity, davids answer, to ask you how in the world analysts are coming up with any kind of estimates given the lack of gu
It was being called the christmas protest. Three big hours for you. Buckle in. Merry christmas. Varney company about to start right now. Charles huge gains for the markets this year. The calendar year, in fact, has wall street looking extraordinarily well. Want to bring in market watcher Rebecca Walser on these gains and of course, at this point in time, we always look ahead. What do you make overall of this market, considering all the negative headlines, all the negative speculation . First to have this kind of market is really remarkable. Charles, it is. Merry christmas. Im having such a great retail season high. I dont care what the retail experts, you know, were expecting. We got 3. 4 growth and Super Saturday, charles, the biggest shopping day ever. 3. 4 billion on Super Saturday. Thats what happens when you have a short Christmas Shopping season, right, from thanksgiving to christmas. Charles yeah, no doubt about it. And i got to tell you, its anecdotal but as i looked around at
Anymore. A lot of Global Markets are closed or for boxing day. Uk, germany, france, australia, italy and hong kong. I say it every year. Boxing day has nothing to do with boxing as a sport as a child, i always thought that u. S. Futures, we have some green arrows dow looks like it would open up about 30 points higher 10year note opening about 1. 97. New this morning, china says it is in close touch with the United States on signing a phase one trade deal both sides are 12i8 going through necessary procedures before signing despite progress on trade, tensions remain. Meantime, saying the phase one trade deal is, quote, an enormous step in the right direction. It is coming. It is coming it is done in your mind what we are going to get is what weve gotten. Phase two, i wouldnt think about it again like ever, ever no. Let it go. Gone for good oregon for the election . I think you need a change in leadership of china before we see anything significant even if trump wins in november of 2020,
I am jon fortt, mike santoli, Carl Quintanilla has the morning off, and Morgan Brennan is live from cape canaveral, florida early this morning, boeing starline had complications with delivery post launch morgan reporter yes, thats right, jon. Complications that are continuing to be assessed, addressed, and shape what is going to happen, the next steps for the boeing starliner spacecraft this was the first test, first flight of starliner, uncruewed, no people on board, failing to make the trip to the International Space station as was planned. The launch itself which happened about 6 36 a. M. This morning went according to expectation. The issue arose when starliner separated from the upper stage of the atlas 5 United Launch Alliance rocket, about 15 minutes later, an issue that can basically be summed up more or less as one tied to automation and it was an anomaly that just a short while ago in a press conference with nasa, boeing and the United Launch Alliance officials was summed up
What is next for him in the company . Text regulation, legal and legislative hurdles continue, especially for overseas apps. We will hear on how much more needs to be done. Action,arket specifically in the tech sector. The nasdaq closed above 9000. It has returned more than 35 this year and is on track for its best year since 2013. One of the best performers has been apple. It is one of the best performers in the s p 500 on a point basis. On as outperformed percentage basis. Another high, another day, another record at tesla, 430 a share. Tesla and elon musk have defied the shorts. We will have more on the record coming up. First, i want to look at the 2019 story of uber. The company went public in the spring, but has faced legal hurdles. Some battles were over its International Expansion plans, with london stripping the company of its license. Another issue, whether drivers are employees or contract workers. This week, we covered the man who cofounded the company, Travis Kalanick, and