Closing up for the fourth week in a row the nasdaq once again closing at another high and lets take a look whats been happening in asia overnight markets in japan and south korea are closed for public holidays. You did have the china markets open with the shanghai markets being closed after a week long holiday. That index was up by. 7 of a percent. In europe this morning in some of the lerl i traearly trading, like things are relatively flat. Slight declines, very slight declines in germany and france the ftse down. Spain is up by. 7 of a percent finally, check out crude oil prices and youre going to see that right now it looks like wti is down by by 10 cents still below 50 a barrel at 49. 20. Thanksgiving in canada. Today unless someone is playing a joke on me they tweeted that in there i dont know what that means exactly. Is it the same they didnt have. Turkeys, pilgrims thats our holiday, isnt it . One of ours. Come on, joe. It can be a totally different reason to give thanks maybe. Lets say happy thanksgiving to our friends north of the border. They could be having thanksgiving the day their country happily located right above the greatest country in the world. October 9th. I would give thanks for that. Every day exactly you learn something every day here hsbc needs a new ceo did you know that . I did now hsbc plans to name a Company Insider to be its next ceo the times of london says hsbc wants john flynn to take over from sturewart gulliver now you have something to talk about at a Cocktail Party tonight. The change at the guard at hsbc. Honeywell plans to spin off some noncore assets and create two publicly traded companies. Reuters says the company will resist calls by activist investor dan loeb to spin off the Aerospace Division. Honeywell, we talk about all the time im not sure what dan loebs problem is its been a monster. Closed at an all time high ges been a laggard. Dan loeb can say all he wants but honeywell is just fine in my opinion. I tonight know what his problem is where do you start with dan . No, hes a great man good man come on. Curious about his problem. I dont know what his problem is in terms of honeywell. Maybe he should be giving thanks today, you know right good to give thanks just about every day, i think barrons is positive on walmart. It jump starts profits and Revenue Growth separately walmart announcing that it will launch mobile express returns at stores when you buy its items online. New this morning, Richard Thaler has won the nobel economics prize. Hes from the university of chicago. Hes a guest whos been here with us on squawk box before some of the things he has weighed in on include limited rationality at this, social preferences and lack of selfcontrol apparently hes shed some life on the notion that new yorks prize. Case western reserve grad due wait from the great state of ohio in cleveland. Well see what happens right, guy with the yankees, they won last night. Did you stay snup. I stayed up for the entire game on friday passive. Youre passive. Its fun to watch looking for a new sport no, im kidding anyway, i did watch the entire you can turn to english football perhaps. Thats right. Your favorite thats an idea. Arsenal or tottenham hot spur i have you today but i have someone who can bring mea long in terms of tutoring me. Daniel ross sorkin . Media mogul Harvey Weinstein has been fired from the company that cofounded amid Sexual Harassment allegations the weinstein companys board revealing that his employment has been terminated effective immediately. They detailed decades of Sexual Harassment allegations against weinstein. On friday weinstein was placed on an indefinite leave of absence after the firm said it would investigate the long rumored allegations according to variety. Along with his firing, weinstein is said to control roughly 20 of the company a source says a member of weinsteins boards will discuss changing the corporate name. What happens . I almost just said no to that. So its sort of like the dam breaking so a couple of people finally came out and said something with their personal anecdotes a lot of people over the years obviously didnt feel comfortable saying anything or sure. Afraid to or whatever and im just wondering, if youre a major Motion Picture star right now, something did happen, you probably still wouldnt say anything about it because you didnt say anything for so long, but theres still perhaps and, yes, the questions are but there will be some people, i guess, that come forward and after reading some of the anecdotes i dont know if i want to know the details of some of it. Thats whats so shocking about it. Shocking, yes. Open secret that he was kind of an out there personality but i dont think anybody had any ideas about the details of some of these things. Exactly so well just leave it political news, the white house releasing a new list of immigration principles its part of a proposal to replace daca that is the obama era progra that protected nearly 8,000 dreamers from deportation. Allowed them to secure work permits. Among the items on trumps list, money to fund the border wall. Thousands more immigration officers and a crackdown on unaccompanied minors who enter the United States. Much more on the immigration situation in a few minutes. Vice president mike pence abruptly left the colts 49ers Football Game after a dozen members, a dozen of the 49ers team knelt for the National Anthem a senior official said the decision was plants ahead of time that the official said the Vice President had been hopeful that all the players would stand. He had discussed leaving the game with President Trump if that was not the case and then in overtime he did not get to see the colts actually beat the 49ers, which i read happened i didnt see the game. I did watch some yesterday. Im sure he was home to watch the overtime im certain he did in fact watch you know what i did watch yesterday . I watched the giants lose. I didnt see the jets win. He thinks the jets are headed to the super bowl, your husband. They did kick the longest field goelg in history. 57 yards. Green bay dallas was pretty good. Outstanding. If you are a giants fan, suffering giants fan, you took solace in the fact that the cowboys went down. Aaron rodgers, some guys do stuff like that. I would encourage you to ask mr. Quale, the season starts this sunday when the jets of new york play the patriots of new england. I know that. To quote coming to america if you recall that. I know that lets get to the other markets not the sports markets now joining us is David Lebowitz beth ambivino and our guest host is guy adami okay so its been a its not quite a meltup, but its been a trickle up or something. Its been pretty solid advances quarter after quarter. Yeah in terms of jobs . No. Im just talking about if you were to deploy money now, youd be risk on or risk off if i was allowed to yeah. You know, i see the momentum is there it seems that worries over what happens on capitol hill doesnt seem to be filtering in. What about the jobs report on friday first i dismissed what happened with numbers was employers couldnt get into stores i was looking at the Household Survey you had 500,000 people coming back to the market and twice that amount getting jobs my one worry is that people get excited about that wage jump im a little bit more circumspect on that. I think the reason why we saw that jump was because a lot of people in low paying jobs werent able to be accounted so i think it was distorted. Do we want a good number or for people that are long the market, do we want a good number or we dont want a good number is it still about the fed . What the fed will do . Lets see. Whether the feds move in december or they move in january, we know theyre going to move. I think thats already baked in the cake most likely we at s p global november is when theyll feel more comfortable making that decision. David, what are you telling clients right now . I would agree with a lot of what you said about taking the employment numbers with a grain of salt. I think the trend in earnings has, in fact, been firming labor markets tight, 4. 2 is the feds estimate for unemployment at the end of this year. So i think what weve been saying to clients is, look, the fed looks on track to hike once before the end of this year in our opinion, possibly the beginning of next year as long as the data remains healthy. The data remains healthy the economy looks good as long as the fundamentals are there and the feds going relatively gradually, we think theres still up side in risk markets not to mention the potential policy reform. So, adami, what did you guys say about the jobs report on friday do you want a good jobs number of course you do. You absolutely want a good jobs number there was some strength there. Let the chips fall worry about the fed later. Theres been strength worry about the fed later. My concern will be the fed has seemingly done everybody right in terms of the fact that the markets at an all time high this morning you have to ask yourself, how is this exit plan going to how is it going to formulate and how is it going to end i cant believe theyre going to carry this landing and get us into this position and get us out of this position and go unabated to the up side. My concern is fed misstep which you have to believe is coming will sort of derail things. Misstep, you mean raising rates too quickly. I just think that the market yes. I think first of all, i think theyre absolutely behind the curve. Theyre going to raise rates and see what happens weve been in eight years of basically policies weve never seen in the history of this country. Put on a prop trade thats the biggest of history in man kind easy getting into a trade, not as easy getting out of a trade i was going to add one more thing. We were talking about what do markets think the feds going to do what if the fed didnt move on the Balance Sheet stabilization. What did they see that we dont know i think communication will be key. To your point of a misstep, that gets exacerbated as you see the ecb start to tiptoe towards the exit as you see this global liquidity that weve had from policy makers be taken out if the market isnt ready for the fed to do something that the fed in fact does. How much would it change things or complicate the situation if you have a new fed chairman coming along . Talking about communication issues potentially potentially changes in what the markets been expecting. Any of you, if theres a new fed chairman, what does that mean . Obviously that throws another unknown into the equation. I still think yellen has a decent shot of being reappointed. I think in order to see some of the policy developments that people are expecting you need very low Interest Rates and shes about as dovish as they come throwing an unknown, particularly somebody without an academic or as strong of an academic background would cree aid fed funding. Its not just the chair youre talking about several more seats. Right. That is a key market different fed all the way around. Going to be a concern. The president was pretty critical of this fed when he was running for president. Now he seems to sort of embrace them a bit more. Now i totally get it, by the way. I understand how politics work i do agree continuity especially at this point would make a lot of sense, but if gary cohen is still in the mix, which apparently hes not, i mean, whos better suited to get out of the biggest position of all time than somebody who did it for a living for a long time at Goldman Sachs . Now i understand hes not an academic, wasnt trained that way, but it will be interesting to put a trader in a position that a lot of people think requires a traders expertise. Good point. I thought you were going to say who would you like to get you out of it other than the person who got you into it. But the person who got you into it the person who got you into it is writing books, doing speaking engagements. He had friends along the way and the current person was enabled that to happen shes fully engaged in the numbers on the way in. My inclination would be to allow her to finish the task at hand youre not a big fan no, i dont know how its going to end. I dont know how its going to end either. I thought it was funny you said, cohen is used to getting out of positions where theyre potentially perilous positions. Yes that a risk firm gets into that a risk has to manage. Interesting. Getting into positions are relatively easy thing to do. Its getting out where you need some artistry. Get out but you might lose your money on the way out. Sure. Which none of us want to see. No. Unless youre looking for noted, again. Goings to use that a lot. Thank you. Beth an, when we introduce you now we say Beth Ann Bovino we dont say where youre from did you notice that at the top im from new jersey. We figure youre so wellknown now that everybody is going beth ann. Isnt that nice. Cher and after that madonna thank you. When we come back, political roundup. Trump versus corker. Pence walks out of an nfl game and the white house issuing new immigration priorities we have a rundown and what it means for your money thats next. People dont invest in stocks and bonds. They dont invest in alternatives or municipal strategies. What people really invest in is what they hope to get out of life. But helping them get there means you cant approach investing from just one point of view. 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Aaaaaaw look at that dog katy perry with music videos and behind the scenes footage, xfinity lets you witness all things me. Welcome back to squawk box, everybody. The white house out with a new priority list for immigration. Ylan mui joining be us with more on that. Good morning. Reporter good morning, becky. President trump laid out those demands last night and topping the list is the border wall. The white house calling for full funding and complete construction of the wall it also wants to crack down on sanctuary cities and move to a merit based immigration system in a letter to congress the administration said these priorities must be reflected in any bill that addresses the children of undocumented immigrants, also known as the d. R. E. A. M. Ers. Democrats are furious about this here is a joint statement from senator Chuck Schumer and representative nancy pelosi. We were open to reasonable Border Security measures alongside the d. R. E. A. M. Act this list goes far beyond what is reasonable. This list fails to have any attempt at compromise. Chuck and nancy thought they had a deal a month ago that had explicitly ruled out the border wall this isnt going to help trump convince schumer to Work Together on health care. The president said this weekend that he called the senator from new york to talk about the possibility of a temporary fix for obamacare. Doubt that is going to happen now. Meanwhile, trump is also facing fresh blow back from within his own party. Senator bob corker of tennessee told the New York Times that the president s cryptic and threatening comments could be leading the country, quote, on a path to world war 3. Corker is clearly uncorked and hes definitely going to be one to watch as lawmakers wrestle with their very packed agenda. Joining us to talk more about all of this is Nick Johnston he is editor at axios. Nick, thanks for being here today. Hi. How are you. Good morning. Thank you lets start off with the immigration story because thats on the front page of the wall street journal and New York Times. Does this mean the bridge to the d. R. E. A. M. Ers act is dead . We knew this was going to come steven miller, one of trumps top aides, was preparing a wish list and as ylan said, democrats are apoplectic immigration is a policy graveyard because of things like this any attempts to move in one direction gets a lot of things added on like Border Security, fundamentalists are upset. It will make it much, much harder to get a deal on d. R. E. A. M. Ers. What does that mean for tax reform, particularly when you see bob corker and the president going back and forth my good friend mike young got a text yesterday after the corker tweets and it said byebye tax reform this will make it harder i think you need to pause and think for a second whats going on right now the president of the United States, republican, is feuding with twitter with the chairman of the Foreign Relations committee, another republican. And a vote youre going to need for tax reform corkers already come out and said he thinks theres not enough spending too much deficit increasing for it. So you think this is a way to get corker more on line with tax reform i dont think so. Where does that leave you in a situation where you need 50 votes at least to get through . Youve only got 52 republicans in the senate. Right. Not dealing with bipartisanship if youre not dealing with corker . I shrug emoticon. This is a struggle the president had. Theres not a lot of leeway. Theres not a lot of gives in the senate they were one vote shy on health care theyre now maybe one vote shy on tax reform as well and what kind of outreach is the president doing trying to get republicans on board with this what kind of negotiations going out. Get some of the d