Make big money if this cvs deal closes well tell you how much. Trying to count it up coming up first as you know, President Trump made this major announcement on israel today which could destabilize the middle east this coming just a day after carlisles David Rubenstein told cnbc the only thing that the market needs to worry about is an unexpected geopolitical event. The only thing we have to worry about in 2018 or 2019 some unanticipated geopolitical event, the black swan. But right now short of those kind of things i think the economy is reasonably good shape and probably going to be spurred on by the taxbill. Lets get to cnbcs eamon javers for a recap of eat vents. The president decided today to recognize that the capital of israel is in jerusalem breaking with longstanding u. S. Policy the president cast this as simply acknowledging the reality on the ground in jerusalem and said that he was fulfilling a Campaign Promise heres what he said earlier today. Today i am delivering ive judged this course of action to be in the best interests of the United States of america and the pursuit of peace between israel and the palestinians this is a long overdue step to advance the Peace Process and to work towards a lasting agreement. Reporter and as you might expect were getting very mixed reaction from the region first from israeli Prime MinisterBenjamin Netanyahu who says there will be no change what soever to the status quo with the holy sites. Israel will always ensure freedom of worship for you s, christians and muslims alike. President trump, thank you for todays historic decision to recognize jerusalem as israels capital. But palestinian president abbas with this statement saying, these are reprehensible actions constitute a deliberate undermining of all peace efforts and represent a declaration that the United States has withdrawn from playing the role it has played in the past decades in sponsoring the Peace Process the president today cast in his attempts to acknowledge the reality on the ground and move forward with the Peace Process but the reality white house officials acknowledge it will take a long time to move the u. S. Embassy from tel aviv to jerusalem finding a site, beginning construction, all of that will take time and could be the case, guys, that there willing a new u. S. Administration in place before that embassy is ever built and ready to be occupied, so well have to wait and see how long that process ends up taking. Back over to you thats true eamon, thank you. By the way there were analysts overnight saying this announcement, the rumors had sparked the movement to bonds. We saw sort of a global move there, bond yields did fall in the early hours and, again, as we mentioned the market is a little mixed even this afternoon. Emerging markets also sold off today. We have more on how these geopolitical worries are play nothing that. Were seeing a lot less risk tolerance in emerges markets weve seen a relatively larger drop from some of the country specific and Regional Exchange traded funds over the oneweek span among the biggest drops have come from some of the asian sen tick etfs including 3 in south korean funds like the ishares capitol hill fund has lost around 3 the ishares mscitaiwan cap, that ticker ewt down 4 and ishares msci china eff has lost 1 chip stocks specifically is a bigger part of that asian story along with generally more risk averse conditions, but if youre looking for where some of the most volatile country etfs are we asked todd rosenbluth, he tracks etfs over there and looked and found some of the most volatile price action has come from mexico and latinamerican focused etfs among them the ishares mexico etf, ticker eww and ishares msci brazil cap etf, that ticker ewz. Emerging market stocks have been the belle of the ball, at least one of them but whats happened is now getting lots more attention so well see that ishares msci emerging market etf, eem off by more than 5 since thanksgiving so bill kelly, a lot of focus to see if that trend stays in place, despite the drop weve seen over the past week and a half, guys monster year. Dom, thank you. So the markets meantime, just continue to churn and for the most part higher albeit at a moderate pace and dow has seen 64 record closes so far this year. Which is amazing. Well see if we get another one today. Hit number 65. The s p has seen seven so far. 57. Oh, 57. Pardon me. Im just a second thats better. Famed Hedge Fund Manager howard mar mar mar martz. Heres what he had to say. The s p quadrupled off the bottom most assets are selling at the highest prices and highest valuation metrics and lowest prospective returns they ever have so it makes sense to me that one would want less risk today than three years ago or six years ago or nine years ago. Has the easy money been made . Joining our Closing Bell Exchange we have sylvia and steve grasso and Rick Santelli joins us from chicago. Welcome, all steve, what do you think is howard marks right and how does that jive with the market background backdrop. Funny you ask that because i thought about it when i heard that interview i dont know its always in hindsight that the easy money has been made. I was on this floor when trading at 666 in the s p cash and there was nothing easy about that. There was nothing riskproof about that no one wanted to buy the market at 666 pretty much no one wanted to buy the market at 1000 or 1500 or 2000 and guys are down in the market now always easy to say in hindsight, nothing against mr. Marks but always easy to look back and say that was the easy money. Were still haggling and trading over whether its good to buy the market at these multiples. So i do believe you should be net long in the market and obviously we can get pullbacks all d. C. Related right now but i dont think the easy money is ever really easy it is in hindsight. Youre right sylvia, looking at the list of stocks you like. More appropriately the sectors that you like. Theres a lot of them here so do you agree with howard or not that the easy money has been made what do you make of this yeah, i would express the same sentiment not sure if all of the easy money has been made and seen a couple of days and downturns and sectors like tech and some rotation into other sectors but, you know, looking overall we see good flows coming in from the news on tax regulation and thats coming into areas like transportation, it continues to come into tech off of some of the dips we see some flow into those sectors, you know, retail still been a strong story for the short term and also emerging market, i mean weve had pullback there with ten cent china properformance there but a lot of the countries are still the second and third biggest economies in the world and investors are looking for shortterm opportunities into year end and tax cuts and, you know, favorable regulation could play into that okay, rick, what do you think has been the driver of this lower move again in bond yields and today the dollar hanging on to about a quarterpoint gain. I like where it closed. A little bit above a nice level. 93 1 2 but only because thats been the most recent ceiling prior to that 94 was a ceiling then when we traded through that everybody expected a big up move so, yeah, the dollar is okay many are disappointed by its performance all year as far as interest rate, look no further than europe and this notion of the story about making jerusalem the capital of israel, i find it fascinating. We never know why markets move because we dont get a chance to talk to every Single Person involved but seem a little ironic to me that story would have oil down and energy down as much as it had today and yet people would think it would affect the fixed income markets. I think europe has a couple of things going on, first of all mario draghi will slash how much qe he will do in 2018. He will be buying more than theyre issuing in many sectors, thats why hes continuing to do things like corporate securities but i think that theres also a front running move that many traders have been rewarded heavily by doing things in front of the central bank like all the negative securities. Who would buy those . Only somebody confident that the government or others would continue subsidizing them hence the price would move up so i think theres a lot going on but the point of what im saying we had the lowest yield close in tenyear boons since june 26th and to me we talked about this 24 hours ago, our guest said he thinks rates are going up and i said the problem with that is if rates in europe are going down no way well break away from that and still believe that. I thought of your comment on that when i saw that low yield on the tenyear before we go, steve, what do you think of David Rubensteins comment about the geopolitics being the black swan that could end this bull rally, for the most part since it began in 2009 it has been immune to geopolitics with a few notable exceptions do you agree with him or not. So, its always that case and to that point, whenever you see a selloff based on eopolitics it becomes even more shallow and shorter in duration. So its a fools error into wonder whats the next one coming down the pike we all look towards north korea. Its never the one that youre thinking its going to be. Were all caught looking down the wrong alley. This one, could it be, yes, but i would still buy that opportunity versus sell it. All right thank you all. Sylvia, steve, rick, good to see you. Appreciate your time thank you. We have about 49 minutes left in the trading session and see whether we get positive close or not. Dow is up 13 point, the s p up about 4 and coming up next marketwatchers have been laser focused on, of course, tax reform but another battle on capitol hill is brewing and it could have major implications for stocks well explain coming up. Later, go big or go home thats the question were raising in todays debate where well pit a large cap bull against a Small Company one. Find out which group stands to see the most upside with the rest of the year just those couple of weeks we have to go still. And we want to hear from you contact the show on twitter, facebook or send an email share your thoughts with us. We aaylilws ke to hear what youre thinking. Watching cnbc, first in Business Market slightly higher except for the russell as you see. The dow up just 5 points its been a rather tepid day compared to what weve seen lately things are settling down quite a bit. Some of the movers in todays session so far shares of aerovironment reported results late yesterday and said it was largely driven by robust Global Customer demand hitting an intraday alltime high and is having its best day ever dating back to 2007 when it came public in as you see, 26 . Alcoholic Beverage Company brownforman seeing an uptick in its jack daniels brand and raised fiscal guidance for 2018. That stock is up almost 6 negotiations under way in washington to reach a deal to continue funding the federal government or face a shutdown perhaps as soon as friday. Kay Kayla Tausche has the latest. Reporter a stopgap that would otherwise expire friday. President trump is set to meet here at the white house tomorrow with top congressional leaders but in the meantime, republicans have yet to reach an agreement over their strategy. They all want to buy time to finish tax reform but they disagree on how to approach the next deadline, december 22nd in order to avoid a shutdown right before christmas gop leaders have been meeting with the House Freedom caucus on that they wanted to extend funding through january. Then through december 30th and now under discussion is either caps on nondefense spending or longer term authorization for defense spending in that period of time. In the meantime, President Trump discussed the risk of a shutdown today at a Cabinet Meeting and he said if that happens, it would be the fault of the democrats. The democrats maybe will want to shut down the country because they want people flow nothing our country and i want people coming into our country but i want to vet those people and i want to vet them very squacaref. We dont want to have radical islamic terrorism. Reporter nancy pelosi said President Trump is the only person talking about a Government Shutdown. Democrats are hopeful. A statement listed a handful of priorities the democrats have and pelosi said she didnt want to shut down the government over a proposal to make permanent the protections for d. R. E. A. M. Ers or children of undocumented immigrants well see what gets hashed out at the white house tomorrow and what republicans decide the Freedom Caucus meets tonight and a meeting today was said to be productive well see. Back sdmrou essentially whats going on are old grudge, if you will, are resurfacing whether its immigration or parts of the Health Care Bill they want to repeal all being resurfaced at this point in the name of trying to avert a shutdown, is that the idea reporter a little bit, so the issue with the Freedom Caucus is they really want fiscal discipline. They worry that the pressure will build so much if you get to december 22nd, three days before christmas, that they will essentially lose leverage to put some of those disciplinary measures in place or to challenge democrats on some of the nonDiscretionary Spending or Discretionary Spending rather that they are trying to put in place so its a back and forth over who is spending what money and, of course, the backdrop of this is theyre going to be reforms early next year to try to make up some of this money that is getting spent on tax reform and trying to get a little bit of a head start on that process here. Is that, kayla, money theyre trying to make up why theyre doing welfare reform. Reporter yes, exactly. Yeah. I dont know i question thats going to be going into the midterms and theyll start messing with social security, medicare reporter the president said it was something he would not touch so expect those to be dragged back into the public forum. What is the scuttlebutt will they shut down saturday or not . Reporter pretty much everyone agree, bill, that a shutdown would not happen this week, if there were a shutdown scenario, the risk is mounting that it would happen on that december 22nd deadline i was talking to senior republican aides and said there is a broad agreement on what the package would look like. For any longer term spending deal which they would be discussing later in the month they do need democratic votes. Thank you as always, kayla. See you later. Sure. Thinking about december 22nd. Wherever kayla needs to be on december 25 and everybody else, its going to be tricky if that does happen. Well see. We have 40 minutes to go today and looking at the dow up 4. The s p up 2 the nasdaq having aly bit of a rebound up 20 point, the third of 1 and russell is still weak. It is down nearly half a percent today. 6 1 2 drop 6 1 2point decline. Still ahead the recordbreaking sales around the thanksgiving holiday are good news for online retailers but millions of additional packages are creating another major headache for u. P. S well tell you whether you should expect shipping delays for your Holiday Gifts and what means for u. P. S. Shares. Senator Tammy Baldwin is taking a stand against activists investing investors and hedge funds. Well hear why shes demanding answers from two s. E. C. Nominees about their positions on activism before she votes for their confirmation coming up in their confirmation coming up in a moment driving specific sectors of out performance. Where a rising middle class powers a booming auto industry. A leap into the digital era draws youthful populations to mobile banking and ecommerce. Trade and travel surge between emerging markets. Everyday our 1,100 investment professionals around the world search out opportunities for alpha. Partner with pgim, the Global Investment managemen. Welcome back dental supplies stock dropping some of the worst performers in the s p 500 and on a potential new threat from, yes, amazon Morgan Stanley says it has new evidence theyre buying supplies directly from an oral goods manufacturer and could deliver them directly to dentist and other physicians, henry schein down 5 , patterson down 4 henry schein was the worst performer in the s p. Tammy baldwin has been a critic of wall streets poe fuss on shortterm gains now demanding answers from two s. E. C. Nominees about their views on activism before she moves on confirmation. Leslie picker has more. Reporter two han in the balance as one senator is demanding answer, senator Tammy Baldwin wrote letters to Robert Jackson and hester pierce with questions about executive compensation without those the senator said she will not agree to a unanimous consent to hold a vote on their confirmation and wrote in the letters that the s. E. C. Has presided over this financialization of our economy which has facilitated the looting of the American Corporation by shortterm shareholders and adds wall streets aggressive pursuit of shortterm profits at the expense of longterm growth and jobs demands a response. These letters come on the heels of a bill that she reintroduced called the brokaw act that seeks to rein in the powers of those investors. We went to brokaw, wisconsin, the name of sake and found a shuttered paper mill and they pinned the blame on hedge funds. An ktiactivist it was closed eliminating 450 jobs in senator baldwins jobs she said the s. E. C. Could make some of the changes that brokaw act is looking to accomplish without congressional approval guys. Stay right there. Joining us now is senator baldwin for more on this and an ecumenical interview and, senator, th