added to investors jitters. reports from europe and japan show that manufacturing activ contracted there this month. here in the u.s., mid-atlantic factory activity contracted, and business spending on durable goods was things were tempered a bit on word that trade negotiators were working on a framework to ease u.s./china trade tensions, but overall stocks did end lower today. the industrials were down almost 200 points for a time. finished down 103. the nasdaq snapped its eight-da win strlling by 29, and the s&p gave back just about 10 points. steve liesman gets us started tonight. another day, another round of soft economic durable goods orders came in delayed from december by the government shutdown but below expectations, 1.2%.pr elled mostly by aircraft orders. the business spending category fell for the fourth in the past five months. a key fed barometer, the philly t negative for the or first time since 2016. but the st. louis fedin preside n exclusive cnbc intervi
final hour of trade of the entire year. we ll strart with the check on the markets as we begin the hour we re. the dow and s&p still on track to post their worse september december since 1931. nasdaq on track to post its largest monthly drop since november 2008 and for the year, the big winners on the dow, merck, pfizer and microsoft. it looks like,mike, we ll hold the rally. we ll see what happens. yes. there was some expected buying just rebalancing coming in to today. it seems like it s holding up right now. we were higher. the dow was 255 or more at the highs. we ll break down the big themes of the show and what investors need to know for next year, among them, of course, china trade. we have the latest from washington on hopes of renewed talks with china. reporter: this all hinges on an unexpected tweet from president trump over the weekend. the tweet said that he had a long conversation with president xi and that the, quote, deal is moving along very well. if made
small cap russell index is often seen as a proxy for tax reform that index is underperforming again today. we ll have the latest on any changes to the house tax plan, and we have an update on the senate tax plan. which is still to come let s start, though, with today s earnings parade that is driving big moves in the market. in various stocks. bob pisani joins us now with the highlights from this morning and we have a preview of what s still to come here tonight, bob. retailers coming, bill, but remember 75% done. still a lot of retailers just want to companies in general, just take a look at royal caribbean, nice move up here beat by 9 cents. despite the hurricanes and the issues, they gave a terrific 2018 outlook that s why the stock is up almost 3%. move to the left, remember coach, well, it s now called tapestry, that i had a decent number here. the small beat, revenues were short. remember, now, they now own kate spade. so they re merging the company i would call t
the first quarter of the next year but this time may be different and we ll talk about why coming up here. plus retail reality check. jcpenney, the latest department store stock for a pop this earnings season and the government retail numbers less than expected. we ll dig deeper into what is going on with the u.s. consumer right now. so herky jerky. first, there were major problems for delta as we know this week with thousands of flights canceled. now, another airline experiencing turbulence. literally this time. 24 passengers needed medical treatment because of it. we have details and the fallout for the airline industry coming up. that is a nightmare story. hillary clinton releasing her 2015 tax returns today. trying to pressure donald trump to release his tax documents, but will it make a difference? that s coming up, as well. a lot to get to. let s start with the market moves today. stocks pulling back just a bit of yesterday s record close. bob pisani behind us
invasion by foreign power, the people will be able to aid the military and also, if we have a time when we have, um, the wrong people in office and they want to dominate the people, the people will be able to defend themselves. reporter: people are concerned about the second amendment. another provision would mandate anyone who had his gun stolen to report it to law enforcement. that s kind of a point of contention in the bay area because stolen guns were used in three murders including kate steinle on san francisco s pier 14. and this proposal includes many of the provisions of measures that are now stalled in the state legislature. so we ll see if voters are willing to enact things that state lawmakers so far have not done. mac kpix 5. right now a large anne makovec, kpix 5. right now a large sinkhole is blocking an intersection in union city and it may take days for crews to fix it. kpix 5 s keit do joins us from the scene where a section of alvarado boulevard is c