Good jobs number, decent ism bob pisani has more. We are starting to break the new narrative out there that were going to have a slowdown in 2020. Remember, the recession narrative have gone away, worries of three, four, five months ago, no more. Gdp is 1 to 2 now economic numbers are starting to suggest maybe the slowdown narrative is not a good narrative any more were taking the edge off the slowdown narrative thats why things are moving up. We not only have a strong jobs market, markedly strong revisions people werent anticipating then weak manufacturing. But new orders were generally good still 49, above expectations thats what youre looking for, new orders stock market is a discounting mechanism for future stream of earnings represented by the new orders ism not getting worse, thats the key. Heres what you need to think about. What will it take to move the market higher, another 5 to 10 . Three things very important. First off, see bond yields move up more. Good sign of modest ref
Points are we seeing signs of a top well break down head winds. We have a 6 billion chip acquisition to tell you about this morning and what it means for other potential deals as well. And retailers gearing up for black friday but walmart gets slapped with a downgrade over at goldman today. We have the latest on the Retail Sector as we begin an abbreviated trading week due to the thanksgiving holiday, the dow and s p east in the midst of a twoweek losing streak na nasdaq coming off the Third Session and bit coin surges past the 8,000 mark over the weekend. I think the high 8101. 91 theres discussion whether or not it can hit 10k. I was thinking about zimbabwe, whoever has money may want to go to bitcoin. A chinese crackdown, they go to bitcoin. Venezuela, natural bitcoin because its defaulting on everything when you see defaults and people realize currency may be devalued, bit coin seems to be a Good Alternative jack dorsey this weekend disagreeing with sara fryer, the cfo of square. S
Lying to the fbi, prepared to testify against President Trump, nbc something nice has yet to verify at any rate, down sharply. Now weve come back. There was a lot of talk about tax reform, stocks recovering the early losses, tax reform appears to gain no men tucmomenm the latest from washington on where this bill stands coming up in fact, lets get straight to the big news in d. C. Hitting the markets today. It is the fall yout from the guilty plea of former National Security adviser Michael Flynn eamon javers joins us with the latest at this hour. Reporter kelly, we got news in the past couple minutes here reported by nbc news that two officials tell them that Jared Kushner is the official who is listed in the criminal information surrounding Michael Flynn guilty plea today as being a very senior transition official who advised mike flynn to get on the phone with officials from various countries around the world to talk about a u. N. Sanctions problem that they had back during the pres
Coming up. We do have quite a rally with the dow in particular. The transports continue higher all the major averages are in record territory. We also have big calls on the Airline Sectors today and the banks as financials get set to report. Were heading into earnings season well have you up to date on those. Lets start on the floor of the new york stock exchange, mr. Robert pisani joining us with a recap of whats going on as we get ready for earnings, right . Yeah, a lot at stake here, but sixday winning streak, just six days in a row since december 17th p nasdaq has the best sixday winning streak since the end of january 2016. Were starting earnings on friday, there are very High Expectations thats my theme. A shortterm risk. The markets. Just on earnings, analysts are much more optimistic we hardly got any last quarter here were expecting bigger beats, not by a penny or two pennies but more than that if youre disappointed youre going to get hit more. Also, we have guidance here. Now
Power lunch starts right now welcome to power lunch. Im michelle carusocabrera. As you can see, negative territory by more than 100 points nasdaq is still in positive territory by higher than 3. 5 points melissa mentioned ge and boeing. You can see ge by off by 2 and boeing off by 2. 5 bitcoin, though, is bouncing back following a few wild days you can see its higher by nearly 6 along with other movers alcoa is down 8 on its earnings you can see it is off by 5 bucks. Brian . Thanks, michelle. Heres what else is happening the race for Amazon Headquarters and the money behind it is heating up there are a number of surprises. Did your city make the cut well have that list ahead speaking of heating up, according to the United Nations last year was one of the warmest records on planet. Some things are cooling off. Dropping sharply especially in the northeast. Melissa . We begin with todays market drop the dow is down triple digits. Bob pisani is watching all of the markets. Hi, bob. Theres