Spotlight. Some are calling the most interesting summit in years. Our own Brian Sullivan is on the ground there call it an amazing turn of events as steve cohen is reportedly heading to queens as Worldwide Exchange begins right now. Good morning and welcome to the show we have breaking news out of the European UnionJoumanna Bercetche is live from london with those numbers. Good morning so this is the third reading weve had for the eurozone Third Quarter gdp. 0. 2 versus quarter two year on year we have the retail Sales Numbers for euro eurozone at 1. 4 versus expectations of 1. 2 the picture for europe has been some what dimmed by weaker retail and the Global Trading environment. One of the economies we are looking at closely is germany. The numbers there, exports have been moving in lock step with global trade you may remember in the Third Quarter, germany managed to skirt a recession coming in at 0. 1 with an expectation of 0. 2 for this time being eurozone is averting a recession not the least germany is one Global Markets have been focused on taking a quick look at Global Markets today. The picture is mixed we had weak german factory orders for the month coming in minus 5. 5 year on year. Not a pretty picture for manufacturing. France, and italy still in the green. Keep an eye on the Political Developments in france very big demonstrates expected on the proposed pension reform proposed by president macron and everything happening with the pound and the election in the uk so much action in europe right now. Thank you Joumanna Bercetche live from london for us. Back home, major averages reversed a threeday slide you can see the dow jones would up about 60 points, the nasdaq abo about 16 maybe a slight tick higher. 10year 1. 78 . The twoyear 1. 58 in asia, a positive trading sessionover all. The nikkei up 0. 7 south korea up a half a percent. Abe launching the first mass fiscal stimulus with 121 billion package to help repair storm damage, upgrade infrastructure and upgrade technologies described as a 15month budget described as one of the largest as the island nation prepares to fend off an economic slow down General Motors and south koreas lg chem are reportedly ready to announce a 50 50 joint hire today to make batteries. The facility is expected to be in the Lawrence Town area. Gm shares up lg chem shares in korea down new comments following the bullish report on trade talks. Officials saying tariffs must be rolled back and the two countries remain in close contact. New this morning, u. S. Senator and democratic hopeful Elizabeth Warren reportedly drafting a bill that would call on u. S. Regulators to retroactively review about 20 years of megamergers and ban such deals going forward. Cnbc has confirmed several details of the draft antitrust proposal including a ban on mergers involving a company with 40 billion plus in annual revenue. A ban on merging two companies each with at least 15 billion in annual revenue. There is a small chance this could be introduced by more likely punted towards 2020 as she works with the head of the house antitrust committee. No comments from senator Warrens Office formally joining me now in a first on cnbc interview is the president of americans for tax reform, grover norquist. Does this have any shot of making its way to the president ial desk . This proposal to retroactively go back and undo mergers. This is one of the things in the constitution that mrs. Warren has not read is specifically forbidden. She also wants a wealth tax which is also forbidden by the constitution my guess is she wont be able to do either. When you say the constitution says the constitution says, you cant go back and hang somebody for something that wasnt illegal before my point being, if there is such an overt anticonstitutional aspect, how is it politicians can float these kind of proposals and get any traction or is it strictly a Public Relations stunt it is a Public Relations stunt and she is saying i hate mergers. What decade does she think we are living in . We are not living in a time with small companies. American leadership has larger companies. It is really an odd 1910 world view and 1910 numbers and not modern numbers there is a certain reason why these particular topics are getting more traction. We werent talking about this before they are forefront of this president ial cycle now is there anything that can be done to address concerns about this kind of environment corporate wise that doesnt infringe on our Constitutional Rights as americans . The most important thing we did was take the corporate rate from 35 to 20 . We went to a regional based tax system rather than worldwide so we are no longer double taxing American Companies overseas and no longer valued for Foreign Companies to buy American Companies and make them more valued because they are no longer in the United States. It was our on policies driving American Companies out people like the democrat front runners used to complain about that this he were the front runners with the tax policy. When we undid that, we havent had the American Companies fleeing by the hundreds because we no longer have a worldwide tax system and the 35 rate. The two together was what was so damaging there is a lot we can do taking the rate down. Firms being bought and they are likely to move in the other direction which is good for the United States and good for the world economy. A hot topic that will gain more momentum. Thank you for joining us with your thoughts. Watching ahead of the big opec summit where they will discuss deepening crude production cuts by 400,000 barrels a day. That is where we find our own Brian Sullivan as we often do at opec meetings. Good morning, brian. Lets talk about what is happening with this meeting. Opec today and then opec and company. Opec and friends tomorrow, right . It certainly is, dom. You nail it had. I am calling it the oscars of oil. You can see we have somebody departing the meeting now, which is unusual because the meeting just began i did not get a good eye ball on who that was i believe it was iran but i am not certain. One of the delegates just left the meeting when it just started 10 minutes ago we have heard this is a live meeting. If you are an oil market watcher and you see one of the ministers leave 10 minutes after the meeting began, you can read what you will going to the story line about what just happened there key story lines. The expectation coming in was this is not going to be an eventful meeting 3 to 6 months was the only thing up in the air. Last night, the report was that maybe they would do deeper cuts, longer cuts to country from norway, brazil and the United States this is the first meeting that is one of the sons of the king, the first meeting where aramco will become a publicly traded company. Theyll price today and begin trading on december 12 this is the back drop of u. S. Oil and gas saddled with hundreds of millions in debt they are hoping that opec, inside this building, long the adversary of u. S. Oil and gas may be able to firm prices up to the point where some may be able to recover some money. Opec in . Weird way be the hero for the United States. You mention the United States prominently here the u. S. Is the biggest petro producer out there how much of a topic of conversation is the u. S. Oil production picture at this opec meeting and will it factor into whether the decisions are made at this live meeting whether they extend cuts or cut further or deeper . The answer is two fold. A lot and yes. You are right on two counts. Everybody talks about the United States ive been coming to opec meetings four or five years. In that amount of time, the United States has gone from 8 million, 9 Million Barrels a day to 12. 5 barrels a day when year over year, globally they are down because of manufacturing in europe and by the way, this trade war thing. The u. S. Is now considered not the world price maker but pretty close. We are at 12. 5 Million Barrels now. For the most part, oil is oil. It is a commodity. If we sell more, opec may sell less their job is to balance out between where we are going up. We will go up next year and where they might need to come down over a longer period of time you have russia. The u. S. , opec and russia. Russia will be here tomorrow those two groups trying to mitigate ill leave you with this 600 billion is the total amount of net debt u. S. Producers have. About 240 billion of that is due in the next four years if they cannot refinance or extend that maturity because banks dont want to lend or wall street wants nothing to do with it you are going to have a surge of bankruptcies in midland, texas no doubt a lot of oil traders watching closely we got a lot more from you coming up. When we come back, why huawei is taking the u. S. To court. Plus slack ceo taking on microsoft. Slack shares up 3 premarket. And later on, luxury versus discount as two battle it out. A busy hour still ahead when Worldwide Exchange returns after this do you have concerns about mild memory loss related to aging . Prevagen is the number one pharmacistrecommended memory support brand. You can find it in the vitamin aisle in stores everywhere. Prevagen. Healthier brain. Better life. Here, it all starts withello hi . How can i help . A data plan for everyone. Everyone . Everyone. Lets send to everyone wifi up there . Uhh. Sure, why not . Howd he get out . a camera might figure it out. That was easy glad i could help. At xfinity, were here to make life simple. Easy. Awesome. So come ask, shop, discover at your local xfinity store today. A big developing story huawei is suing the u. S. Government over the latest attempt to black list the company from the American MarketFrank Holland joins us now thank you, dom. Seeking to oversee a ruling. Huawei filing a legal challenge late yesterday with u. S. Appeals court. It claims the decision by ftc unfairly labels it a Security Threat claiming it is mistaken that it and another company has close ties to the Chinese Government in may, the u. S. Put huawei on a black list restricting American Companies from doing business with it. Some rural carries still use and rely on huawei equipment saying the u. S. Has gone too far, ultimately, the ftcs decision will not have a substantial impact on business we kind of dont need america but we want to be able to serve our customers and continue our partnership with suppliers from america. The services provides subsidies in rural areas and schools and libraries. It was granted a 90day exempt to allow current customers to continue receiving support why shares of five below are set to surge plus kid tech under fire why disney plus, youtube twitch and more could soon come under government fire. Its just not right. But with sofi, you can get your credit cards right by consolidating your Credit Card Debt into one monthly payment. Including your Interest Rate right by locking in a fixed low rate today. And you can get your money right with sofi. Check your rate in two minutes or less. Get a nofee personal loan up to 100k. brakes screeching okay. So, today youre going to leave your phone with a guy named flip. ding but its more than your phone, its your business, your customer data, your sales figures. And who can forget, those happy hour selfies . Not flip. honking, gasping this isnt working. Introducing samsung Business Security solutions, with knox software. With the galaxy note10, you can remotely wipe data or lock phones, so your business is secure even when your phone isnt. Samsung business solutions. Welcome back lets get a check on some stocks this morning slack signing more large customers to the work Place Communications platform. Growing about 20 to more than 12 million daily active users. Most top customers add some of the Microsoft Office 365 in use by using slack for other parts of business like messaging butterfield will have more when he joins squawk box in an exclusive interview at 8 00 a. M. Eastern time shares of rh slipping the company known as Restoration Hardware rh says tariffs arent a big challenge. It has the flexibility to source from many different countries. And shares of five below are jumping. The Third Quarter earnings beating forecast helped by the opening of new locations. Those shares up by 5. 5 in extended training. Steve cohen is set to meet the mets in a big way. Plus announcer todays big mbnuer 711 billion is how much opec earned last year can we make it two days in a row . The dow jones will open by 56 points the s p by 5 points and nasdaq up by 17 following yesterdays. Can we make it two days in a row . Coming up, more on huaweis legal challenge. And opec preparing for the major sit down at 9 00 a. M. Eastern time our own Brian Sullivan is there covering all the angels. Brian. Thank you it is the first meeting with the new Saudi Energy Minister who is the son of the king and half brother to the crowned prince. The first meeting where we have the overarching u. S. Debt problem stairing us in the face. The aramco ipo, that prices today and will start trading december 12. The saudis have yet to show up we are shaping ufop r a long and interesting day here at the opec meeting in austria servicenow put our workflows in the cloud. This changes everything. Youre right sir. Everything. No not everything, i mean youre still blatantly sucking up to me gary. Brilliantly observed, sir. Always three steps ahead. Six steps ahead. Sixteen. So many steps. You done . A million steps ahead. Servicenow. Works for you. Huawei launching a new legalening with the United States over its crack down we are live with the latest there. The oil industry coming together amid continued head winds. Brian sullivan is with us from vienna and the government asked to look at companies targeting your kids Worldwide Exchange rolls on. Welcome back to the show it is thursday, december 5, 2019 looking at the top headlines with Frances Rivera from new york good morning. We start with breaking news overnight. A lockdown has ended after a shooting at the pearl harbor ship yard in hawaii. A u. S. Navy officer shot and killed two and then killed himself. There is no indication yet whether the civilians were targeted or if this was a random attack House Democrats laying out their articles for impeachment three constitutional scholars said the president s actions were an abuse of power another the republicans brought in disagreed it is unclear but the president s legal team has until tomorrow to decide a few hours ago, the world famous Christmas Tree here was lit in Rockefeller CenterEverybody Loves it but we have nbc employees that have to get to work and so we divert it is officially christmas in new york stock futures half way through the hour this time around. We could have two days in a row. Well halt the slide the dow would be up about 85 points and the s p about 9 points and the nasdaq about 35 points eunice break this down for us. What is the challenge and what does the company have to do to win in its efforts here . Huawei is talking on the ftc in court the company has said it is fighting the designation of it as well as the local rival as a national Security Threat the ftc has designated these companies as risks in the u. S. Believing these companies have ties to beijing and the Chinese Military and because of the way the regulations are, they believe beijing puts demands on these companies and the companies have no choice but to comply on intelligence gathering. So huawei has now said that the fcc doesnt have the evidence and the company is being penalized for its chinese roots. The fcc decision is important to huawei because it bars u. S. Customers from tapping into an 8. 5 billion Government Subsidy Program to help build out the wireless programs in rural areas. Huawei and zte is used in a lot of those areas it looks like the u. S. Carriers will have to remove and replace that chinese gear from existing networks the petition is the latest example of a new strategy that huawei has in place to take on or defend its representation through legal means as well as the major pr campaign. Dom, there is a question as to whether or not huawei and the latest aggressive move is going to impact the trade negotiations so far, it looks as though both sides want to keep the issue separate thank you for that. Speaking of, overnight, chinas commerce offered new c