Take a look at where we stand with the market stocks under pressure today the dow down around 65 points. A apple is the biggest loser check out shares of macys jumping despite a bearish call from Goldman Sachs is the bottom finally over for this beating down stock. Our traders will discuss later this hour. Thank you very much. The december 15th tariff deadline looms just a few days from now and the u. S. And china dont seem to be all that much closer to a deal, if at all. There may be progress on the trade deal with canada and mexico we are joined with all the latest news. Hey. Turns out the most protracted negotiations are taking place in the u. S. With the white house and democratic lawmakers discussing changes to that uscma deal for more than a year. They are now very close to deal according to two senior democratic aids. It could be announced as soon as today. One aids says the democrats are still studying the white house proposal others suggest the deal has already been reached the white house is talking timing for a potential usmca vote informing two sources that this is the operative schedule House Speaker nancy pelosi makes the final call on that scheduling december 15th is now in focus as a critical date for the usmca and the commerce deal. The two sides there should reach a deal as soon as possible no response there. Thank you very much i suppose this is the ultimate walk and chew gum at the same time moment as they move forward on impeachment even as this deal moves along in congress. The dow down about 70 points 71. 5 bob is at the New York Stock Exchange lows of the day but theres only an agtspoint range a little bit of china jitters going on here. How about the week here. A lot going on we have the fed meeting on wednesday. We have the brexit looming maybe we dont need to have a china deal right now we have these numbers work ng our favor. Still youve got to admit were in pretty good shape right now overall. Take a look at the s p 500 were sitting at or near historic highs its not just here in the United States the most important thing happened is recession is off the table with 2020. Were at new highs here as well. Even japan, ewj is the japanese etf. New high here as well. You put it all together, theres an etf for the whole world its the entire global stock market the u. S. Is about 40 of that. There you go were sitting close to new highs as well. This is why the market is holding up bottom line is we have trade deals going on but u. S. Consumer strong and the Global Economy is table. Thats the reason for the markets strength. Back to you. Thank you with the trade deadline looming, stocks under pressure in the u. S. Jpmorgan saying now might be the new time to look abroad. Gentlemen, great to see you. Is it best to look for opportunity outside the u. S. Given the 25 run up we have already seen with the s p . For longer term investors the opportunities probably are a bit better outside of the United States i want to start by saying we do have a vu news past and economic release packed week by investors will be walking through a mine field a bit. It should be a volatile week we would probably suggest keeping a bit of powder dry till we get past that december 15th trade deadline investors looking overseas do have valuations on their side. In places like europe its about a third lower. There are some good valuation deals to be had overseas kevin, taking into account economic data, the fed this week, the six days to go until the december 15th trade deadline is it best to look for opportunity outside the u. S. We still tend to favor the u. S. Thanks in large part of the strength of the u. S. Consumer. We saw another record, psychcyb monday we have wages increasing 3. 1 year over year overseas we dont know who will replace angela merkel. Theres a lot of uncertainty overseas now you cite that fear of missing out is one of the reasons you think the market may be propelled higher individuals will eventually come in and say i got to go in. If thats true, why have they been taking money out of funds at record paces this year. The wall street journal reported if that were true, if the people fear missing out they just missed out on 25 . Perhaps they werent advised properly as we have seen theres been a record out flow of funds in etf where they missed out on a golden opportunity. What will make them move higher you say fear of missing out is one of the reasons they will come back in whats going to flip the switch . I think what they are saying now is very strong Holiday Season likely to have a good Fourth Quarter earnings season. Where is the opportunity . I know you like health care. I do. On top of 16 other ideals thats been announced already in 2019 i think thats the opportunity for alpha or upside potential in the markets right now. The tariffs go into effect. That doesnt mean there might not be a deal a week from sunday or three months from sunday. What would the effect be on the stock market short term if theres no deal and a tariffs on another 150, i think its 156 billion worth of chinese goods go into effect i would argue the markets have gotten a little bit ahead of themselves with pricing in a success of with a phase one deal they really havent priced in these list b tariffs a lot of the trade news has been very trade on, trade off, risk on, risk off theres been a lot of noise out there. December 15th is an important point because of fact the consumer hasnt been drawn into the trade war. These are tariffs on things we buy every day. Sneakers, iphones, laptops bringing the consumer and especially a time for the holidays really could take a bite out of consumer confidence. The u. S. Consumer has been the one pillar carrying the Global Economy. Id like to say they are like the tom brady of the Global Economy. They never he tiretire and keep carrying the team. Dont tax my ear buds thank you. To the bond market rick is tracking the action. I think its always important to pay very close attention to the Interest Rate complex after big jobs report. Fridays job report was not only a big important report, its a very strong report the long end trade down to 178 we have held this. You can see were in the mid 184 area it still leans capital to continue to avoid stocks and come into the fixed income space. Its back down a bit today its not strong. Back to you. Thank you coming up, disneys domination of the Box Office Netflix domination of the nominations. The ceo of the new viacom cbs. Mcdonalds going through major ive ges a t the boardroom and drthrough. Well explain. Power lunch will be right back everyone uses their phone differently. Thats why Xfinity Mobile lets you design your own data. You can share 1, 3, or 10 gigs of data between lines, mix in lines of unlimited, and switch it up at any time. All with millions of secure wifi hotspots and the best lte everywhere else. Its a different kind of wireless network, designed to save you money. Switch and save up to 400 a year on your wireless bill. And save even more when you say bring my own phone into your voice remote. Thats simple, easy, awesome. Click, call or visit a store today. Disney dominating the box office as they have while netflix dominates the award shows or one of them lets tackle all three with ed lee, New York Times media reporter and cnbc contributor. Well begin with viacom ceo. He told about the companys streaming plans. Listen in. What were in the middle of now just like Everything Else is putting together one integrated company with one sbintegrated strategy in the streaming space we have a tremendous opportunity is there room for yet another streaming service . Can he do it can he pull it off i think these days if youre a media company, you have to have some kind of streaming strategy i think the question is how exactly do you plan to sbintegrt them if up to pay for something thats a question mark i think thats probably the direction they want to head in to how they integrate it he hasnt been forts coming on details. Lets move onto our next topic and thats disney and frozen its expected to surpass a billion dollars. Disney has raked in 10 billion this year. Thats before the release of its next star wars installment that comes later this month its disney ease wors world ane all just players in it you think about box office, it really is disney. The big bet is streaming you have to wonder at what point they will make the calculus between they want to own the full window for these films versus pushing them on the disney plus to stoke more subscribers there. He wants to have his cake and eat it too i think in the near term he will want o shorten that window netflix dominating the Golden Globes nominations streaming giant getting 17 nominatio nominations. Hbo got 15 here. What stood out was the idea that the traditional or conventional networks, abc, nbc, cbs and fox, i dont know whether they got completely shut out but they didnt show up among the top golden globe nominees in tv. Thats the most stark thing here netflix and hbo have been on this battle for years in terms of whose getting the most. Netflix is coming out on top this time around usually you see the broadcasters representing in some form. I think its an indication of where prestige tv is headed. Theres a lot of artistic freedom. Theres big paychecks. They can do almost anything they want its becoming more crowded if you sign a deal with netflix, you kind of hope your thing gets good placement on the home screen theres only so much primetime despite the prestige and pay dh checks, i think the next fight is what kind of placement will i get. What kind of Marketing Budget will i devote to what im doing. Do you think they will continue to pay out more for content . 17 nominations i he will loosen the pursestrings even more i think the awards nominations are a way to attract more talent. At some point they cant keep the negative cash flow burned. It will be like that next year i think year after that, i think they have to start leveling that off. We leave it there we appreciate your time today. Coming up, a warning about global banks in 2020 well hear from the moodys analyst who just turned negative macys loosie in losing half of lbeig bk. E. Wel rhtac woman friction points, those obstacles that limit a companys growth. I try to find companies that turn these challenges into opportunities. But by going out in the field, and meeting management, suppliers, competitors. In the end, its these unique companies with Creative Business models that will generate value for our investors. Thats why i go beyond the numbers. But with opportunity comes risk. And to manage this risk, the world turns to cme group. We help farmers lock in future prices, banks manage Interest Rate changes and airlines hedge fuel costs. All so they can manage their risks and move forward. Its simply a matter of following the signs. They all lead here. Cme group how the world advances. Cme group when i lost my sight, my biggest fear was losing my independence. Mmm. Good. So ive spent my life developing technology to help the visually impaired. We are so good. We built a guide that uses ibm watson. To help the blind. It is already working in cities like tokyo. My dream is to help millions more people like me. Welcome back to power lunch. Macys hit with a downgrades to sell from Goldman Sachs today check out the stocks it reversed losses higher on the day. Is this a sign the bottom is in for the beaten up retailer craig, ill give you first crack at this. Obviously bouncing on what would seem like a negative call out there. Any reason to think this one has gotten sold out . I think i would be selling this relief. The stock is in a down trend at this point and time. 10 pretty big percentage move down from here. Mark, its got close to a 10 dividend yield it looks cheap based on recent earnings trend market is making the call thats in decline what do you think . Yeah, id say if you want to buy a retailer theres much Better Options out there macys is a dinosaur mall traffic is in a decline most of their stores arent even in a class malls no exclusive products so they are forced to discount the merchandise to move it and fulfillment cost is higher than competitors. The trend is for brand to go direct to consumers so theres no need for macys you throw in fact they have too much debt, bad margins and the dividend thats unsustainable. You want to stick with strong brands, off price. Not these old School Department stores thanks very much. For more trading nation head to our website or follow us on twitter. Back over to you ahead, a major warning for moodys. Why the firm has cut its Global Banking out look to negative they will join us next to explain. Amazon coming to new york less than a year after pulling from queens. Not every one is happy with the news well bring you the details. A band trip for travel stocks. Theyre getting crushed because of growing competition well discuss with the ceo of kayak. Gold nice rock. Its time to drop gold. Go digital. Go grayscale. [ electrical buzzing ] [ dramatic music ] ahhhh ahhhh elliott . Elliott. You came back welcome back here is your cnbc news update at this hour. The number of Illegal Migrants along the southwest border has fallen for the sixth month in a row. Customs and Border Patrol giving an update in washington this morning. Total Enforcement Actions in november numbered 42,649 thats a decline of 6 from october. French president macron is hosting russian president putin to discuss the conflict in ukraine. Putin arrived this morning and he met with ukrainian president zelensky to discuss a ceasefire a National Park in the netherlands is offering visitors a chance to come and chop down their own Christmas Tree for free they have set aside areas where the trees are threatening to overwhelm land used by krcrickes and other species. Those look like rather sparse Christmas Trees. They are but theyre free and you protect the lizards and the crickets. Where was that . In the netherlands. Great markets right now. Lets look at the dow. The s p 500 and the nasdaq moving on from the crickets. Thats what will happen if i keep talking this way. I tried one they were good i was not here that day modest loss across the board of a quarter percentage point or there about. Its the first time in several days draw your attention to the oil market closing for the Day Oil Prices relatively steady so far perhaps not all that surprising given a nice run for west texas intermediate you can see wti 58. 98 prices are up around 6 . The big headline, the massive drop in natural gasoline prices. Currently around 2. 23 per unit. This says the Weather Forecast for many parts of america starts to look unseasonably warmer than expected folks on the east coast getting taste of that early on this week with temperatures slated to hit 60 degrees fahrenheit. Back over to you lets get out on the golf course we got a news alert to tell you about. Morgan stanley is about to cut 2 of its work force because of an uncertain Global Economic outlook according to people with knowledge of the situation the job cuts will hit technology and operation rolls the hardest. Cnbc. Com reporter breaks the story just moments ago lets bring him in for more. What do you know here and where are the cuts likely to take place in are they do m place . Are they domestic, global . What we think is going to happen is they will focus on people in operations people without front Office Responsibility less traders and sales people and Investment Bankers and more people in the background that make everything run but who are a bit more of a commodity. Are you surprised the cuts are coming from Morgan Stanley at a time when the banks are facing lot of competition from the Big Technology companies absolutely. It cant be great for morale and not a great calling card to hire away from facebook and google if they understand they have to cut back 2 is about 1200 people. Its not massive for an organization thats about 60,000 however, my understanding is this is what happens every year around this time instead of wanting to pay money figuring if we cut them before the end of the year, we can pay recei severance. Are you hearing these kinds of moves might be afoot at other places or is there any inkling thats happening around december and february people get cut because they figure out their budgets for 2020 as we know in terms of trading revenue, the outlook hasnt been great for the past few years thank you appreciate it very much. For more, you can go to cnbc. Com global uncertainty is run of the reasons moodys is out on firms today. They are cutting global out look from negative to stable. Its a slow down in long term nick growth and Geopolitical Uncertainty related to trade war among other things here is associate managing director at moodys. Good to have you with us are most of these problems that you see or have identified in the Global Banking system outside of the United States or are many of them located here too . Yes, absolutely the Global Outlook occurs effectively to replace our view of the Global Banking sector as you said, we change it to negative from stable previously. If you look at different regions throughout the future is olympimixed. For u. S. Bank, our outlook remains stable for next year do you think it could have implications for brexit and european financials . Yes, absolutely the geo political race and domestic political race as well as trade tensions is one of the