Soybean and pork shipments that putses up 343 points on the dow. We are positive for the week as a whole now despite the declines earlier on this week joining us for the first hour, nathan from risk aver sal advisers so that point exact ly that wer up. 2 on s p, do you think the b jobs number justifies that given where we were monday, tuesday . I think its helpful when you think about the weak ism data and services this week that was a cause of concern. Especially if you did not have a lot of confidence that we were going to have the fear of increas increas increased tariffs taking off so this kind of mitigates that and here we are in familiar territory back at all time highs. Theres a lot of cross currents here what has happened to get us here you know, the fed has expanded the Balance Sheet by 300 300 billion, right and theyve lowered Interest Rates three times, 75 basis points in the last four months just to get us and keep us here. Were going to focus in on the big stories were watching today. Steve leaiesman breaks down the report kayla has the latest on the trade front. Mike is watching the broad market surge in stocks and Bertha Coombs is at the nasdaq today. Hi, steve. Thanks. Normally a big jobs blowout number would prompt concern about Federal ReserveInterest Rate hikes not today. The payroll comes in at 266,000, blowing out the consensus of 187,000. Wages were kind of on the muted side it fell by 3. 5 . Modest wage growth amid a tight market suggests pressure, so the fed will stand pat barclays saying we retain our fall and the fomc will remain until 2020 even the president s top economic adviser suggest the fed may have done enough we had the Federal Reserve way, way too tight in 2018 but i think thats going away. They took their foot off the brakes. How many more quarters or months excuse me like we just got before you start thinking that the next move could be a hike as opposed to a cut you know, the market will probably think that and eventually build that in as a more likely scenario, but you know, powell has laid out a kind of framework here, which is pretty interesting and thats going to be sustained inflation on the feds preferred inflationary indicator that most economists think could be in the 2. 5 to 3 range to go on for a while there. So i think were a long way from that were down in the 17 range so i dont know, not quite double, but you need to add a percentage point or more to the underlying inflation rate i think for quite a while. Maybe several months or six months before the feds going to think the its policy is too loose here steve, thanks very much thats of course why the market likes it so much good news is is good news. S p is up 4 now could the strong jobs report impact President Trumps decision to hit china with new tariffs . Kayla . Wolf, the strength of the u. S. Economy is certainly one piece of a complicated puzzle that President Trump will have to weigh oaf the next week whether the u. S. Can withstand a market sell off and more sustained by farm and manufacturing sectors all with the purpose of adding pressure on china to extract more concessions, but risking the chinese potentially walking away if President Trump delays the the tariffs without a deal signing, he lessens the risk, but prolongs talks in what would be the fifth such good will gesture. Opening up to criticism that the dephase one deal doesnt exist certainly the relaxing of the tariffs by china is one move that could give trump political cover. Today, larry kudlow maintained the two sides were close to a deal with just a few more buttons to be buttoned, but said december 15th could be a watershed date guys how surprised were you by the relaxing of those soybean and pork tariffs i wasnt necessarily surprised in the sense that this conversation for the last month has centered around what china will do with its retaliation and what the u. S. Is willing to do on its tariffs the expectation was that the u. S. Had been pushing china to remove more tariffs than the u. S. Was willing to do so the u. S. Could potentially under that scenario, shelve these december 15th tariffs, maybe roll back the september ones, but it wanted china to do more were seeing china go ahead and relax those restrictions on u. S. Farm pers would make the president happy. Thats something that had been under discussion and could set the table for him to have a more positive outlook on the potential to delay those tariffs. Thank you very much for keeping track of that. Lets send it over to mike with todays market dashboard the great jobs number has let this market go from shrugs to hugs over the course of this week going to break that down look at some of the elements of this return toward a record high slipping from a to z thats a big bellwether stock thats not really participating. Were going to have a real close up of that one then frowns become smiles. This is sort of a second level look at the jobs data and the favorable trends that are evident in there then less fear, more cheer thats what investors are feeling right now. Theres a gauge of Risk Appetites thats come back from the late summer depth. Heres the s p 500 for two years, twoyear trend. Its pretty clear now. We were in a range for all that time and now its clear were kind of at the top of the range. This little wriggle was the 2. 5 pullback from all time high to a very brief low kre cently. Doesnt mean its over weve kind of left behind that sort of tuesday wednesday sell off. Sort of gapped right out of it and returned to the highs. Well see if we have to retest that, but for now, it looks like the rally is intact. This would still be in tact even if we did have further pullbacks in range, but look at the nature of it that low volatility etf that everyone loved this year, splv, defensive stock, yield stocks, this is a twoyear look. Its very sensitive to the starting point, this analysis, but look at the lead that built up thats the splv. Below is more cyclicals. Financials and small cap usz el 2000 theyre all going in concert the markets try iing to tell is trying to shift into a more cyclical gear here its doing so, but grudgingly. If youre an optimist, you say hey, theres a lot of comback. With growth stock, not really powe iing the way higher at least on a daytoday basis, guys and mike in the shortterm n any way, the russell and the likes of energy, financials industrials, alvery strong toda. Without a doubt today is a cyclical day. A risk on day and that makes sense. I dont know that you have to say its going to be the russell or the large cap growth. Bull markets arent so stingy that you have to be in the exex spot that would probably be taken as a positive mike also helps us find patterns in these charts that are sometimes hard to see, but if you look at todays charts, it started high and we just stayed there all day long. Likely a really good point about the shift into cyclicals theres some stocks on my radar that are not confirming the new highs in the market. Look at salesforce. Com just reported earnings. I think anything with a dot com after it there are some names not c confirming the new highs, but that speaks to the fact that the rally at this point has been much broader than when weve seen new highs over the last 18 months and we have Bertha Coombs with some of the big wipers at the nasdaq today hey tech very strong today in fact, a today is for all time highs. Apple, alfa bet and asml their bounds put the nasdaq composite to break even for the week and put the Communications Sector at a new high investors giving ultas earnings an a plus. Reporting stronger margins back in the black for the year, still down 25 from the years highs. A big drop down. Biotech alexion rebounding as well there were talks and as a result will not be putting the company up for sale. Its strong, hitting a new historic high today led by device makers for a record. Thank you very much for that. And just to round off the discussion on some of those fang points and the tech points, why is it you think that some of them whether its amazon, netflix, havent taken part this week great point all three of those names, i think it really comes down to valuation and you want to go back to what are some names that dont act well today its some of these 2019 high growth ipos that are losing money. So valuation seems to be a concern for some investors as we kind of broaden out the strategy when light mepgsed cyclicals, some of these are pretty cheap and they are for a reason. Because theyve had the head wind of Global Growth thats been challenged. So now its a tash for trash for cheapness thats underperform and maybe you take those things higher and hit the pause button at the least on some high valuation growth were up a full percent this friday afternoon with 49 minutes left of the session. Still to come, former fed vice chairman tells us whether today will ensure the fed hol holds off on another rate cut next week plus, uber under presh after a new report and as we head to break, heres a quick check on our data tracker. Consumer sentiment much better than expected. 99. 2 this month. The indexs second best number this year. What a good time to do it going into the holidays. Closing bell will be back right after this they changed how the world fights cancer. Blocking the pdl1 protein, lets the immune system attack, attack, attack cancer. Pdl1 transformed, revolutionized, immunotherapy. Pdl1 saved my life. Saved my life. Saved my life. What we do here at danafaber, changes lives everywhere. Everywhere. Everywhere. Everywhere. Everywhere. Doprevagen is the number oneild mempharmacistrecommendeding . Memory support brand. You can find it in the vitamin aisle in stores everywhere. Prevagen. Healthier brain. Better life. Welcome back to the closing bell here we sit going into the final hour of trade. The dow higher by almost 1. 2 . Goldman sachs and American Express. Some news on the New York Stock Exchange itself. The sec has rejected a proposal from the New York Stock Exchange to allow companies to raise capital in direct listings ipo alternatives like direct listings have grown in popularity weve seen slack and spotify go that route the New York Stock Exchange commenting we remain committed to evolving the direct listing project. This is not nshl in the filing process and well continue to work with the sec on this initiative for more, go to cnbc. Com of course had an interview on this topic late last week and it would be interesting to see if they can adapt that proposal to get to a point where they go to a halfhearted ipo as it were via the direct listing process the one group of people who would be quite pleased are the investment banks because if the exchanges can list and raise capital without that reliance of underwriting and access to clients, i think you would have seen a slight shift in the pool of the fees for this from investment banks toward it is exchanges, but well see how it goes it just cant all be about fees i think the investment banks will want to work with this, but ill make a really important point. You think u about as we get to the later stage of this ipo cycle, you know one of the most Important Reasons a company will ipo is for a company to raise capit capital. Go back 20 year, there was a will the of companies who ipoed in 98 and 99, that cash sustain ed them during a long bear market. So i think that was important. I think thats what has the evolve in this process, too. Spotify stock moving in opposite directions. Ub rer shares lower after the Company Released a long awaited sexual assau Sexual Assault report. This is remarkable in a few different ways first, the sheer number of i incidents it sheds lights on 500 incidents of rape or attempted rape nine people murdered People Killed in crashes over the full two years, it tracked near ly 6 thourk report of sexual abuse. While it is far from a complete picture and doesnt answer key questions, its a level of transparency we havent seen from ride sharing or Taxi Companies or the gig economy at large in compiling and releasing this report, uber may be creating a new benchmark question is, are they doing enough uber and lyft, are they doing enough about them. Back to you. Did they acknowledge they are personally responsible for all of these instances or do they say thats not the case that Taxi Companies may have this type of thing as well and its on the driver or somebody else in part at least no, uber has always claimed the a platform and their drivers are independent contractors. So they cant be held liable this is from a bunch of newspapers around the country today. 100 committed so theres a different line there theyre 100 committed to makin the platform as safe as b possible doesnt necessarily say theyre 100 liable. They keep touting this line. Theyre not a transportation company. Theyre a platform that connects drivers with users is there any discussion about upping the background checks or the screenings for these independent contractors . I know they look at differently, but if youre someone that doesnt necessarily study the Business Model of uber, you may assume that driver has gone through a certain level of clearances to get behind the wheel and drive you. Certainly a large part of the 86 page report where all the Safety Measures they are adding, including to make the platform safer. So they are doing things in terms of background checks and screenings thats a big question. Remember when this platform start ted. Almost anyone with a car could get on and drive that has changeded the company said that it rejected one Million People who wanted to drive for the platform b i believe over the last two years. Again though, this is really hard because we dont have a lot of context we dont know entirely how many people applied the ins and u out of the background checks and some lawmakers have proposed that there should be fingerprint screening, so thats a debate, but cloerly, theres a lot of work to do there and i think uber is acknowledge iing that ad saying theyre committed to doing it and this transparency certainly a step forward one question as if the affects the t srsl license, whi is up in the air at moment but well have to wait and see thank you. Dan, you own lyft. Does this change your view on either stock heres the thing. I do not own lyft right now. I prefer lyft to uber for a whole host of reasons. I saw the founderover lyft speak at a tech conference when you have him on a oneonone setting, they have one focus. Just north american ride share and ultimately the path the autonomy now they have the same issues. There was a lawsuit filed against them on the Sexual Harassment stuff, but theyre just focused on north america and ride share when i think about uber and think this is one of many problems regulatory issues in california and it goes on and on. Losing the license in london i much prefer lyft as a play on the ride share theyve been much better at pointing to when they think theyre going to be profitable ub ebb has yet to do that. Uber is not the only recent ipo thats been under pressure seema has the details of some other names. Thats right. Uber is one of several high profile ipo flame outs lyft, dou and smile direct club all trading well below their ipo price raising some concerns as to whether these companies that were highly valued in the private market can stand up to the scrutiny of Public Markets now parnlg duty and zoom, these Cloud Computing names both on their stocks surge on their first day of trade now getting hit on weaker than expected Earnings Report cards. Of the 5200 companies that have gone public this year, the average return is 14. 6 . Still a number of names are trading above their ipo price including beyond meat and one to watch next week is bill. Com. A Payment Software company that rivals paypal. It could be a good gauge for investor appetite around the fin tech Digital Payment space thank you thats a good wrap up. While here we have about 39 minutes left to go before the chosing bell sounds. The dow, s p, nasdaq all higher by about 1 . The dow is higher by 322 points. Coming up, why this mystery chart could be a canary in the coal mine for the market plus, earlier this week, josh brown weigh ed in on the red hot fast food chicken stand witch market chicken sandwich wars were no joke this year, but i think i found a winner its chickfila now it appears a new heavyweight contender may be enthe terror iing the ring detas up next. Dan nathan will make the final call nervously ready . Ok, ready sweetie . Nice, you ready to go again . Are you ready, dad . Im ready. Imagine if your Life Insurance could help you live for today and safeguard tomorrow, so youre ready for anything. Life insurance designed to protect generations of families. Thats the power of pacific. Ask a financial professional about pacific life. Market rs his are higher leading the way, 3m, Goldman Sachs and American Express higher by almost 1. 3 . Lets see if we can tack on some good gains to end the week lets get to word on the street. Advisory group out with a note on mcdonalds concluded that after consuming a hot of chicken sandwich, mcdonalds crispy chicken, only available in houston and nashville, is quite really good and can face off against chickfila. The analyst weighing in on it on power lunch today. To be fair, theyre not going to beat out chickfila, popeyes, but theyre taking a product on their menu, improving it dramatically and making it a much better tool by which they can grow their sales and traffic trends in that regard, i think this product is going to be a very good success compare d to what their previous product has done. The analysts also say iing ty consumed a lot of fast food chicken sandwiches to come up with that report the firm seeing wallet share shift to sneakers and othe