You go out no, i dont. Various market milestones today. The nasdaq crossing 7,000 for the first time and the dow closing in on 25k for the first time although were well off the highs right now. Tax reform hopes, and a series of deals this morning seem to be helping sentiment today. This is the first time ever, by the way, that the dow has gained 5,000 points in a single year. We began the year in president 19,000 range and now were well into 24k. Its just crazy theres no other word for it nothing like bitcoin, though, by comparison, it seems tame. We have people who are going to tell you where to make more money in the sfarkt cotock markg up in a few minutes. Is utilities are the biggest loser today. We have a debate on whether the bitcoin boom could help drive utilities higher talk about some of the power usage. Thats a hot topic. Recode calls him one of tvs most important executives. What espn had john skippers resignation announced today means for that sports giant and for disney overall well get to that in a little while. Lets start with this recordbreaking day for stocks yet another one. Joining our Closing Bell Exchange today, we have victoria fernandez from crossmark global investments. There she is kenny from oneal securities is at post 9. And look, kids, its Rick Santelli at the cme in washington as well so, kenny p. , i think this will be number 70 in terms of records for the dow this year, and our cracker jack Research Team figured out that thats 29 of the trading days this year so more than one in four days this year have been a record high for the dow. Its really been is that crazy its crazy. Its been an incredible year considering the sentiment in january, no one was sure about what was going to mean with trumps firstyear presidency, a lot of people were making a bet against it its done nothing but slap them in the face the whole year up. Now as we make yearly highs right here going into the final bell, its really its really actually incredible. Todays action, clearly being driven by whats going on in d. C. , certainly, this tax plan is going through not a doubt about it it will be delivered to the president s desk with out pomp and circumstance that he promised im sure on christmas eve. So it will just ignite the end of the year. Not a whole lot of volume today. But that just means, you know, all the long onlies, people betting on this market going higher are happy to let it ride. I guess. Victoria, this time of year were supposed to see people doing that tax law selling sort of december weakness into the january effect but retail, which you think people would be dumping, is one of the better performers again today. So wa kihat kind of moves are y guys making here no, youre absolutely right, kelly. We havent seen as much selling that you would normally see. I think there was some concern that the fifo issue and with the tax bill might cause that to be greater, but now that weve heard that thats out, were not seeing that. In our products, were really overweight the financials, the industrials. We think those are going to be big beneficiaries due to their effective tax rates with the new tax plan so were continuing to overweight those well add to those names Going Forward. But were also taking this opportunity, we think there will be some more volatility next year so using that to kind of step back to some of our clients, look at their overall allocation and maybe add to some of International Names that we have, and then also maybe using that to use some of the covered calls that we have if you have extra volatility in the market, thats a great way to add some extra income to your portfolio. Those are some things were doing with our clients. Is all right, rick, so weve pulled back a little bit from that 94 level on the dollar index youve been watching so carefully. Yields have been going up on the short end a little bit what are you looking at here today . Is you know, its been all about the long end today here the 30year bond is trading very close to 275 on its high yield of the day the tens getting close to 40 on their high yield of the day. And that tenyear is five basis points away from unchanged on the year you know what, lets all play a game here. Lets try to make 2017 make more sense for everybody. Dont think about it as a trade. Think about it as a repricing. Think about a lot of issues, Central Banks, change in leadership in many countries including the u. S. , or businessfriendly, especially in the u. S. , but not necessarily limited to, think france here. I think repricing explains a lot. Integral to the repricing of stocks, keep it simple, supply and demand if you look at the buybacks over the last several years and over the last six, seven months in particular, they might not be a record the last six months but theyre going at a very lively clip the amount of tradeable stocks continues to be a dynamic in the priu pricing of fundamentals for equity markets i think when you add it all up, i said green light most of the year i think its as green as ever today. Vick, what aborick, what abo repricing . If you told me this year we were going to have the dow up 25 as of today, couple quarters gdp over 3 , what would i think the tenyear bond yield would be, i would say, oh, easily over 3 . Yet were smack where we started, barely at 2. 4 . Is that all because of europe and those central bank effects absolutely. Now, if youd have said Interest Rates are going to be up and not specify the maturity, you could have told all your friends you were exactly right i mean, a twoyear note is up over 62 basis points. Right. Just since september. Eightyear high. We only had one rate hike in that window, that was just last week so, yes, i do think the long end is all about other Central Banks. Remember, you know, when you throw coins in the fountain, nobody knows who threw it. It theres a lot of coins out there still in the marketplace for Central Banks. Even though ours is maybe less than others. Kenny, arent you tempted to take a Little Something off the table here just in case i think you have to, but i think thats going to come in january. I dont think people are going to do it now i think theyre going to let it ride but once january comes, and once this tax package gets passed, i think youre going to see the volatility in the First Quarter of next year youll see money coming out of some of the high fliers. Repositioned into value names. Be repositioned into some financials and certainly the Big Industrial names because i think those are going to be big beneficiariy ies next year. Victoria, final question, circling back to what you said earlier, made a lot of sense a lot of people could have said that for 2017 as well. Volatility is going higher, we want to be positioned for that what happens if it doesnt materialize next year, were faced with another year like this one you know, its definiteliy a possibility. I think because we so much waiting in the wings, besides the tax plan we will probably see pass this week, we got infrastructure deals that theyre saying theyre going to bring in the First Quarter youre looking at issues with Social Security and entitlement changes that theyre wanting to make weve got Central Banks starting to make some shifts, i mean, the ecb at some point is going to have to start looking at what theyre going to do when they finish their bondbuying program. I think theres a lot playing in the markets right now that will lead to additional volatility. We dont have a crystal ball we cant be for sure so low this year, i think were set for it to move higher next year okay, folks thank you, all victoria, enice to see you, kenniny, see you around. Rick, see you later. Turning to washington where moments a egg the president made a speech about the Administrations National security strategy. Lets get to eamon javers at the white house with more. Reporter we heard from the president within the past hour, his first National Security strategy, document an opportunity for the president to lay out the trump doctrine, very much an americafirst approach to the world the president said that economic power is very much an important piece of Overall National power. Heres what he said. For the first time, american strategy recognizes that Economic Security is National SecurityEconomic Vitality growth and prosperity at home is absolutely necessary for American Power and influence abroad any nation that trades away its prosperity for security will end up losing both reporter the president also took an opportunity here to take a victory lap of sorts on this record run, record stock market closes weve seen over the past year heres the president at home, were keeping our promises and liberating the American Economy we have created more than 2 million jobs since the election. Unemployment is at a 17year low. The stock market is at an alltime high and just a little while ago hit yet another alltime high. The 85th time since my election. [ applause ] reporter and kelly and bill, one interesting dichotomy in this set of remarks today was the dichotomy between the written language and the strategy document on russia which was relatively tough, and then the president s language in the speech in which he praised Vladimir Putin, talking about cooperation between Vladimir Putin and the United States cia on an antiterrorism matter over the weekend. The president saying that is how cooperation with russia should work nonetheless, in the document it very much approaches russia and china as strategic competitors over the next coming years, guys back over to you all right, eamon, thank you eamon javers at the white house. All right. Now the other big story in washington, of course, is the tax reform package the house is ex. Ebl expected to vote on that bill tomorrow ylan mui joins us now with the very latest. Bill, the republicans, a finish line looks like its finally in sight as you said, the house is expected to vote, thats expected to happen tomorrow afternoon. The Senate Following suit very shortly afterward. Now, assuming it passes, reuters is saying theres a new analysis by moodys projecting the tax cuts will juice up growth over the next decade then growth will weaken at the start of the following decade because the National Debt will increase. Reuters also saying the Ratings Agency predicted that home prices could be hurt even though stock prices get lifted and that businesses are the biggest winners in this bill now that plays right into the argument thats coming from democrats. They are out with their own numbers showing 15 of the biggest u. S. Companies will get a tax break totaling 236 billion thanks to the new rates for repatriation apple, alone, could see a tax reduction of 48 billion on its offshore earnings and democratic senator Bernie Sanders called the gop tax bill a massive giveaway to the largest corporations and he called for the bill to be defeated. Now the public appears to agree with him 47 of americans disapprove of the tax bill thats according to a poll released today by Monmouth University half also believe their taxes would actually go up flo now, of course, republicans dispute this argue the median family of four will see their taxes fall by more than 2,000 this is a real messaging problem for the gop, guys. Especially as theyre planning to make the tax bill the centerpiece of their strategy to maintain their majorities next year back over to you ylan, as this heads toward the finish line, can any of the details be changed at this point . No. It is strictly an upordown vote on what the Conference Committee has agreed to. The bill is now final. Our property tax writeoff is still going to be capped at 10,000. They literal ly in the bill said you cant prepay. Apparently you cant prepay. You cant prepay it you cant prepay it. Any hopes you had of gaming the system, guys, just put those to bed for now. Okay. Apparently thanks, ylan. Sure thing. See you later. Ittheres other things you tried listen, for a couple months miscellaneous business deductions going away, you know, the treatment of Real Estate Income how is that theres still you know, as people are even just realizing what they did to not give to the reinsurers this sort of offshore thing theres a lot of details in here people are wrapping their heads around thats why i ask. Every single tax reform passage thats ever been passed is should be called the accountant employment act because thats exactly what it does. This one, too, for all of its simplification. Try and figure it out. Anyhow. Lets go take a quick break here with a little more than 45 minutes to go and records on wall street once again the dow is up 142 right now. It thats interesting. That says 154. Anyway, the s p is up 17 ill go by our screen. Nasdaq up 63 just a point away from 7,000 and the russell up 17. Its also a little bit of a merger monday. We have hershey and amplify, amplify snack brands, that is, one of the deals that was announced this morning well tell you what other companies are teaming up today, next. You know, i think that board has frozen here at the new york Stock Exchange. Meantime, cme Bitcoin Futures started trading last night. You probably know that besides bitcoins recent surge in the cash market, those futures are trading lower today. Coming up, well look at whether Institutional Investors could be the next group to get in on the cryptocurrency craze. And, of course, we always love hearing from you. 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Honey . You almost done . Nope. Get ready, because were helping leading companies see it and see it throughwith digital. Welcome back with some strong gains here as we kick off one of the last trading weeks of the year. The dow up 154 points today, year to date gain to 25 s p is up 17 . Nasdaq up 62 hit 7k earlier for the first time the russell up 17. The dow up 224 at the peak today. Yeah, exactly. I didnt realize that. Even stronger than it is right now. Lots stronger. Shares of kellogg also higher announcing a 1. 5 billion buyback late friday. Cereal makers previous Share Buyback plan expires at the end of the month its pushing the stock higher just under 1. 5 . Food stocks moving today on the heels of various deals on various deals talked about new details emerging on a merger between campbells soup and snyderslance, snack maker, as well as a deal between hershey and amplify snack brands kate rogers has the details for us. Thats right. Todays deals are all about the snacks pegged at 89 billion in the u. S. , alone. The bigger of the two deals today, campbells soup acquirin snyderslance. This is the largest deal ever in the soup companys history snyders owns Diamond Foods and pop secret popcorn hersheys announced they will acquire amplify snack brand. The Parent Company of skinny pop popcorn. The two stocks have been divergent this year. Campbells down 17 year to date hersheys is up 10 for 2017 so far. The deals also signify Big Food Companies like hersheys and campbells are looking to move beyond traditional offerings and diversify their own port folio of products. Consumer behaviors are, of course, changing analysts say more people are snacking on foods like pretzels and popcorn as Dining Trends become more mobile less time and money are being sent on the socalled center of the store items. Shoppers are migrating more to the perimeter of store wrs the snacks are located one more thing analysts say to keep in mind, the trend will likely continue into 2018 for two key reasons. Big Food Companies have continued to struggle and Interest Rates are low this all makes for a perfect storm for m a in the food space. Bill and kelly you know what i love about this, theyre going after the snack makers because were more mobile with our eating habits. Im serious. Were more mobile are our eating habits mobile with our communication, mobile with our eating habits. As somebody who eats a lot on the go, as you know, im not always as i witness here. Im not always reaching for the healthiest stuff i totally understand why theres a premium for the options, kate, that are out there that people like by the way, thats a rich price to pay for amplify the shares are absolutely up 70plus percent today. Of course and those two companies that theyre acquiring the market caps ar