Lets see what happened overnight in asia. The flnikkeiclosed down. Hang seng down by 5 points the shanghai composite up by a third of a percentage point. In europe in some early trading, looks like the dax is up by a third of a percentage point. The cac is up bay half py a half percentage point finally check out crude Oil Prices Crude Oil yesterday down by 1. 4 on some questions about u. S. Supply and also doubts about whether russia is going to be cutting output whether it will stick with that. This morning down 1 couple big stories were watching japans softbank offering to purchase shares of uber at a valuation of only 28 billio 4 . Thats a huge drop of the most recent valuation of 68 billion. Ubers board approved the investment in october. It would expand the board and cut the influence of founder travis kalanick. Big question about whether people will tend near this offer. The consortium is led by softbank, and they plan to take a stake of 14 in uber if they dont get it at this price, they could walk theres been a threat theyll invest in lyft instead what was the last valuation . Was it 70 billion . 68 billion. So 30 discount. So a lot of questions about whether people will will tender their shares. By the way, if uber doesnt get this money, then it raises all sorts of other questions about the valuation any way, right . Not just about the valuation, but they use this capital to operate the business still a money losing business. They need this capital it will raise additional questions about where the funding will come from. Youre an uber, too what are you like a metoo no. You dont watch curb your enthusiasm he says hes uber 2. I wasnt blaming myself im your kids nosh, i wasnt proud of it i think i was 4. 2. Where do you find it in settings . I dont have the app. I think it was 4. 2. Im amazed. Theres an uber wherever you are. Its cool. Im just getting into the lingo. Ive been playing on lyft recently because you got a 2 rating on uber er in certain instances sometimes you can arbitrage the cars thats wh lower rating canceling a car does not lower your rating. The state of illinois and chicago filed a joint lawsuit against uber alleging Consumer Fraud and deceptive business practices. The suit is related to ubers failure to release information on a data breach about drivers and riders several u. S. Senators wrote a letter to ubers ceo yesterday calling for him to answer questions about the companys handling of that data breach. Wells fargo reportedly overcharged hundreds of business customers on currency trades wall street journal reporting an internal review that found out about 300 fee arrangements, and only 35 companies paid the price they were quoted wells fargo employees got bonuses based on how much money they generated the scheme relied on customers not double checking how much they were charged. Federal prosecutors reportedly opened an investigation and four employees were fired theres no end to the disclosures. The idea that the culture of wells fargo was ever somehow this, you know, beautiful bastion of anything has been completely undone and upended by all of this. I think as buffet pointed out, theres never one cockroach in the kitchen were seeing more and more of these issues i wonder if there is never has that happened . Maybe just one sneaks in i dont know cybermonday was the biggest in u. S. History. The numbers that we talk about in terms of gains, it would be the envy of any business according to adobe, online sales topped 6 6. 5 billion, that was u 17 from last year, which was up from the Previous Year the big sellers, the Nintendo Switch, hatchables, sounds like animals that might hatch very cool you know what they are. We may have some. Lol surprise. That i dont know were among the top selling cyb cybermonday sales. Next year it might be rotflmao in washington news, the fight over control for the Consumer FinancialProtection Bureau intenseified yesterday. Mick mulvaney imposed a hiring freeze, and he is being sued by leandra english. The president has the right to nominate a permanent director, but there are dueling claims over who gets to name the acting director a couple of pieces in the journal, both are funny. William mcgern says William Mulvaney is the true pope. And the lead editorial is lee understand dra costanza. Democrats pretend the cfpb is its own branch of government it was set up to be like that they made a tactical mistake yesterday, sorkin. That is not showing up with doughnuts . Exactly if you want sorkin to back you, you will bring in please listen dont lock at thaok at that if you are bringing in a big thing of dunkin donuts, you know who you get you know i can be sold for doughnuts. Even though its a republican, you would be with mulvaney the alt mat viernate viewpoi the democrats have won by raising the fight to this level, that they would never have the fulltime director any way, that trump could come in and appoint the full time director, but by raising the stakes and getting their base fired up about this, they have won. You remember george would be there. The guy that fired him they would be having this meeting in the conference room, there he would be. What are you doing youre fired thats what is happening i cant believe i didnt think about that yesterday everything is relatable to a certain extent its ridiculous the reason i was looking at the phone. Yeah. I undersold myself. Youre a 4. 4 4. 42. Not bad out of 5. Im surprised youre has high i am i rank you lower than that as a coanchor. Yes can we rate each other every day . That would be something. Thats fine okay. Dueling ban joeanjos. You want to do that you already skipped khosrowshahis name. Daras name you already skipped it. You want to do that we can. Republican leaders in the senate are hoping for a vote on tax reform by thursday, some key holdouts are trying to get some key lastminute things added to the bill senator ron onsjohnson told c news yesterday that he thinks republicans want to get to yes theres a lot of activity, a lot of discussions im encouraged by how open everybody is we need more information we need to pass pro growth tax reform steve daines said they need to make sure Small Businesses are not at a disadvantage. And corker said he needs to make sure theres not a raise in the deficit. President trump will head to capitol hill today for lunch with the senators. This comes before a preliminary vote in the Budget Committee this afternoon which would officially bring the tax bill to the floor of the senate. Both ron johnson and bob corker are on that committee, and both say theyre willing to block the bill if theyre not satisfied with the negotiations so far i will be on the hill all day. Well keep you guys posted on what happens thank you we will be talking to senator bob corker at 8 40 a. M at 9 40 a. M. , kevin brady will join the gang on squawk on the street. On the wall street agenda the s p caseshiller home price index is out at 9 00 a. M. Eastern time followed by november Consumer Confidence at 10 00 a. M. In washington, the Senate Banking committee will hold a hearing on the nomination of jay powell to be the next fed chair. For more on the markets, joining us is Andres Garcia maya, and covering the economic angle is ian shepherdson. Gentlemen, welcome lets start off talking about the tax bill that is what businesses are watching so closely, what were watching in washington today what do you think the market is anticipating here . We could see a quick vote that goes through the Senate Committee today and then potentially passing by the end of the week but we might not. If you look at what the market is telling you, i look at the dollar when i think about tax reform we have not seen a rally in the dally. To a certain extent the optimism has died down. Theres some baked in possibility of this going through. Now there would be more of an upside surprise if it goes through. Not necessarily a selloff, particularly if things dont move quickly every day that goes by that things dont happen, the more the market is expecting something not to occur the dollar is telling us that and the tenyear yield is telling us that. Ian, in terms of what you anticipate happening, what you would like to see, what would you like to see . Not in the u. S. House or senate im not sure the u. S. Needs any tax cuts now with the budget deficit adding 1. 5 trillion and cutting taxes when unemployment is where it is, i think the timing is all wrong. If this was three years ago, with unemployment at 6 , 7 , i would say go for it, do something. Im not sure we need anything. What about the corporate side both sides of the aisle have been saying our tax system is out of whack with the rest of the globe. We need to make our businesses more competitive if you look at the tack rates companies pay, u. S. Corporate taxes are less than 20 . The headline rate is very high, but some deductions, so many loopholes. Do you have business paying 32 , 34 if you could find a way of broadening that out and maybe making it fairer across the board. Absolutely. Theres always things that can be improved. No business should be paying that high of a rate when the average is the low 20s or below. Its like a sledgehammer to crack a nut. Theres an issue, but its not business taxes across the board. The average rate that u. S. Business pay is not higher what do you think ultimately happens . Do you think this will get passed i think there will be something. I would be surprised if the whole lot goes through i think theres something. I would be amazed if were sitting here in january saying they couldnt get anything done. Isnt that amazing that would be surprising to me the details, how the bills get reconcil reconciled, its like predicting the outcome of herding cattle, you dont know it makes them throw their hands up and say well raise rates faster we dont want more down award pressure on the Unemployment Rate heading to 3 now. If the fed raises rates faster than anticipated, the market seems like its pricing in action this year and next year that is my biggest fear in the sense of offset surprise to rates, the result of inflation not just here, but global inflation is starting to pick up if you look at europe, asia, to a certain extent here. If that were to occur, i dont think its only the fed that might have to become more hawkish but also the ecb the ecb is what is basically forcing global rates to down. To have downward pressure that, i think, would be a pretty big shift in rates around the world, which would have unintended consequences. What would that mean for our markets, if its not just us raising rates, if everybody starts to raise rates, are we still the best house in the neighborhood it depends if theyre raising rates because both inflation and Global Economic growth are picking up, i think equities could still do okay here and potentially better abroad. If theyre raising rates because inflation is moving up, Economic Growth starts to stall that would not be the most ideal scenario i believe that if inflation does continue to pick up is because global economy, that momentum weve seen continues and that would be positive for equities, not necessarily positive for rates. Youre telling people to buy equities here. I prefer international, especially emerging markets from a relative valuation theyre no longer cheap, but from a relative valuation standpoint, they look more attractive than the u. S. Markets. Coming up, a bold call on bitcoin from a well known Hedge Fund Manager another analyst raising a red flag on the cryptocurrency details next cannot live without it. So if you cant live without it. Why arent you using this guy . It makes your wifi awesomely fast. No. Still nope. Now were talking it gets you wifi here, here, and here. It even lets you take a time out. No no yes yes, indeed. Amazing speed, coverage and control. All with an xfi gateway. Find your awesome, and change the way you wifi. Former fortress Hedge Fund ManagerMichael Novogratz making a bold call on Bitcoin Bitcoin could be at 40,000 at end of 2018. Easily could and i think ethereum which just touched 500 or getting close could be triple where it is. Novogratz is starting a 5 500 million fund to invest in Cryptocurrency Bitcoin coming up on 10,000. 9,882. 51. I think the dow hit 10,000 when those two guys said 40,000, remember that . Yes who were those two guys one was jim glassman yeah. I cant remember the other guy. We had a great run that was not to be then. Maybe 23,000 now if youre starting a fund now. Great time to be bullish can i get in . Is it too late if its going to 40,000, i want to buy some of his stuff that sounds like a good idea. Crazy not idea. It would have been a better idea if they started two years ago or nine months ago you got 25 worth did you check into that . Its coin base somewhere. Coin base is the app i have it on you cant find it. I havent spent a lot of time trying to find it. That worries me have you done more research on putting out a hit on someone where it cant be traced back to you . No. Thats in a book you told me about that. Theres no way to trace it back. People are trading hit lists and things with this they get paid, theres no way to trace it back theres no information that anyone has done this yet you cant truck it. I have people start my car when i leave here now. Do you . Yeah. Tasting my food, Everything Else interesting youre looking at me i am looking at you i know you own bitcoin you keep giving me lower star ratings for my performance thats not me, thats uber. One researcher sounding the alarm on bitcoin the search term buy bitcoin with credit card is at a historic peak he takes the use of leverage to get in on bitcoin as a cautious note it accounts for 3 of all google searches the entire cast of jersey shore is being reunited minus sami sweetheart. This is for jersey shore Family Vacation the new series will premiere next year. I never really i never got into that. No. You would be hampton shore. That would be your i loved the real world. Remember that. On mtv . Yeah. I still think that was a great show real world seattle anyone remember that years ago no. I think big brother i never got into big brother. Shes married to les, isnt she . That show may never be canceled. Do they keep julie chen host of the show. Its on cbs so like survivor 400. Still eating worms no, that is gone. The eating worms one not on survivor. What was the one we did fear factor thats the one. I dont know. It looks like you can now actually turn water into wine. Soda stream debuting a sparkling gold drink mix, an alcoholic concentrate, you can add it to your bottle. Each bottle of the mix makes 12 glasses of wine. So you could use it to make three glasses. So upsetting. I had a friend who had an idea about trying to create a company like this. We had a whole dinner over it. Creating a dinnerlisoda streame thing for alcohol. Do you think they overheard that people say that all the time can you believe i had this idea. And now theyre making it. Theres a seinfeld about that that i came up with the i invented the turkey salad, or the term mother of all that was mine. You know that, right mother of all mother of all whatever. That was mine. Yeah. Not really. No. When we come back, black friday and cybermonday are over. We have a report card of the biggest winners and losers in that sector. We will take you inside the u. P. S. World port husbab in louisville, kentucky as those gifts begin to ship. And scott earnest will join us first on cnbc first a quick look at yesterdays s p 500 winners and losers us. Its what this country is made of. But right now, our bond is fraying. How do we get back to us . The y fills the gaps. And bridges our divides. Donate to your local y today. Because where theres a y, theres an us. We cut the price of trades to give investors even more value. And at 4. 95, you can trade with a clear advantage. Fidelity, where smarter investors will always be. And at 4. 95, you can trade with a clear advantage. Not rebalancing your portfolio. Focused on what you love, not how your money will last through retirement. We make it easier to plan for retirement with day one target date funds from prudential. Look forward to your 401k plan. Welcome back youre watching squawk box live from the Nasdaq Market site in times square. Good morning u. S. Equity futures are up again this morning last we looked, 35, 40 points. 42 now that was weird, did you see it the board was skewed a bit i saw it quickly took it down up about 42 points on the dow. Stocks to watch, United Health issued guidance for 2018 ahead of its analysts day. The Company ExpectsEarnings Growth of 8. 5 , consistent with United Healths warning about the impact of the Health Insurance tax that is set to return next year thats hurting the dow today if were up 45 or 42, with that down 3, theres other stocks that are picking up the slack in the dow. Royal dutch shell will start paying its dividend only in cash they are scrapping a program that gives Share Holders the option to receive dividends in the form of discounted stock or whats known as a scrip. Toyota named the new chief financial officer. The prove sus evious executive t seven months in the organization toyota expects a modest increase in profit next year due to a weaker yen. Black friday and cybermonday are in the books joining us now is courtney reg within a retail report card. Its been a busy few days. It has been a busy few days we dont have the final numbers yet for cybermonday. It looks like its going down in the history books. Adobe projects u. S. Online sales hit 6. 59 billion, a 16. 8 increase over last year, making it the Biggest Online sales day in u. S. History. Adoeb expected the last three hours in the time zone to be peak time. The cybermonday record is in addition to a record 13 billio over the weekend online from thanksgiving to sunday thats 14 higher than last year some best sellers on cybermonday were google chromecast, ipads, sony play station vr, hatchables we have not heard much from retailers, throughout the day on cybermonday consumers were research