Of a percentage point. The hang seng was up by 0. 4 shanghai composite was up 0. 4 in europe in some early trading that were seeing, we are looking at a mixed picture slight declines in germany and in france. The ftse is up by a quarter percentage point gains in italy and in spain as well finally crude oil prices, which were up by 50 cents yesterday, they have given back some of those gains. We are talk about crude oil below 58 a barrel a couple stories were watching, bombardier said it is confident u. S. International trade commission will reach the right conclusion in its dispute with boeing. The Commerce Department announced yesterday it will impose duties of 300 on the companys cseries jets after boeing had been complaining they had been unfairly subsidized by the canadian government. The penalty will only take effect if the itc rules in boeings favor bombardier said it is common practice for a plane manufacturer to offer discounts to launch customers. Bombardiers ceo will join us at 7 30 a. M. Eastern. And chinese Ride Hailing Service didi is catching up to uber in the fundraising race. It it received a billion dollars of new funding from investors including softbank ubers latest fundraising round brought its valuation up to 70 billion. We know that softbanks new offer or tender offer values it at 48 billion. Strange bedfellows across the board. Uber has a stake in didi softbank now has a stake in both its all very complicated. Frenemies google, Google Ventures has some stakes. Theyre doing their own things they have stakes also in lyft. A trio of economic reports weekly jobless claims, the monthly Philadelphia Fed index and the final estimate on Third Quarter gross domestic product, thats all out at 8 30 a. M. Eastern time as for the earnings side of things, you have carmax, pay checks before the opening bell, nike reports after the close Corporate America reacting to the tax overhaul, promising more pay for workers or more investment for training. At t saying it will pay 1,000 bonuses to more than 200,000 employees. It took me an hour to figure out how much money that was. I am still not sure. Either 20 million, 200 million i dont know 2 billion . I dont know invest an additional 1 billion in the United States cnbc Parent Company comcast says it will give 1,000 bonuses to more than 100,000 employees and invest 50 billion over the next five years thats about 10 billion a year 200 million, right . Yeah, i think i was kidding. Boeing will invest 300 million in Work Force Training and facilities enhancements for employees. And wells fargo and Fifth Third Bank are raising minimum wages to 15 an hour fifth third is handing out bonuses to more than 13,000 employees. Im naive. I thought this was great to get the negative take, ill turn to my coanchor, andrew these are just crumbs, right no its not crumbs. Its a great thing first of all, in dollar terms, percentage terms its great. How can you say its not great im looking for you to say that im naive i will get you to how its not great in a second. I was happy i want you to pop my bubble. Im not popping your bubble let me ask you this the left right now, are they in position of hoping this fails miserably, that the stock market crashes and that the economy goes into recession . No. Is that the best outcome for them now i hope not. Then youre rooting against america. Thats not what is going on here i would tell you, in my humble estimation, this is fantastic. All good news. Can you hear it in his voice . Comma, but, you look at the at t thing that was effectively agreed to a week and a half ago. That was for 20,000 union employees. Not 200,000. Part of it was for that what is going on right now what is going on what is going on in america right now with at t . The Justice Department yes so when the mafia is running the country, you have to show love, respect and kiss the ring what do you think is going on why did comcast do it if you want to understand how this is happening these are all bribes to the Trump Administration no. No. The mafia who is the mafia the Trump Administration i think so. In comcasts case so theyre getting shaken down in our Parent Companys case what about boeing theyre watching other people do it and say i should do it if theyre doing it. I made calls yesterday across the board to understand how hold on. Is equifax i saw these press releases coming out within two, three hours of each other. I thought this is weird. This is not like a market force situation. You believe in Market Forces theres Something Else going on. I call around to very, very senior people at all of these companies to try to understand what is going on here. And i will just tell you its not like everyone just decided were giving out christmas presents i have to say i understand the reaction on twitter and the reaction to cynicism that comes out. But Randall Stephenson has been talking about tax reform long before this. Long before donald trump became president and what that would mean also making all of these investments that theyve been talking about the whole time meaning some of these numbers that youre hearing about were already baked in some of these companies had already been thinking about what are the ramifications going to be either way . What investments do we have to make based on what some people who was here yesterday who called it the obama recovery im only saying i got so much mail. That was the most ludicrous thing. I didnt even address that im saying its great for the country, great for the employees of at t and comcast. You think this has anything to do with obama no. Im saying to the extent your record is eight years the first time you didnt get above 2 thats the record. Thats cast in stone whatever you think is happening in todays economy i was saying whatever is happening in todays economy had something to do with before. You can disagree with that completely if you would like the uptick in growth were seeing now compared to the tepid growth from that administration. Independent of my view that this is fabulous for everybody getting the money, some of the motivations for some of this, at least the press releases are more cynical i like to see the good in people comcast saw this and said within a matter of hours, well spend 1 100 million for bonuses if i if you called me, i wouldnt talk to you knowing who you are. You dont talk to republicans. You dont talk to anyone who has a different view than you. I understand the reason for cynicism i think thats 1100 wrong companies are damned if they do or dont. Im saying its great remember liesmans allamerican thing, all these things are going great you find the 81 of the ceos who say they hate the tax bill you and sonnenfeld i sat in a room, because it was a situation that is supposedly off the record, so many of those people in that room are guests of this program, friends of yours okay. Whats wrong with the allamerican survey . Are they lying for that . Im telling you i dont know. Youre asking the question i know some of them like Howard Schultz will like this tax plan . Howard schultz did not attend he wants to be president of venezuela probably let me read you one other thing here oh, no. Im looking at what youre looking at horoscope . I need to know what to do here my horoscope says it is a great day for me as a capricorn i should make plans. And on drudge it says this is the worst day of the year. Make sure you dont make any plans longterm. Right all this stuff you told me i need to do for this tax thing, set up a crown trust, second to die, a reverse some way of setting up the llc, but put it in my wifes name. Keep your head down today i dont want to make those plans now. Prepay its the shortest day of the year, also my brothers birthday happy birthday, rob. This is not a good day for me to start the tax planning. Youre taking the advice very well we have to move on. Oh, no yes we finished this, didnt we you have more . I wanted to add one thing we got an email, which i will just say from somebody who knows, that apparently when it comes to this at t situation, the 200,000 employees who got the 1,000 will get an additional 1,000. So its the 20,000 that the Contract Union that they got but then it was another 180,000. I didnt realize it was those 20,000 who will also get an additional thousand. Cnbc and this is from dotcom, even cnbc had an article saying this is just the beginning of companies doing these things i hope this is very good. I dont believe you the idea that people are coming out with a press release the day of the thing think about that we have been talking about that for months. If they passed this, this would be extra its not like this happened and Companies Said lets do this. Companies have been thinking about these things is this an attempt at saying, yes, this is a payback potentially. But workers said if they had more money, they would spend it. The republican tax reform bill is a done deal. Focus now to a spending bill to avoid a partial Government Shutdown tomorrow night. Kayla tausche joins us now the conversation in washington has changed with the house expecting to vote today on a bill with two core pieces being considered separately. Sti first a stop gap funding bill that would last until january 19th second, an 81 billion package for hurricane and wildfire reli relief, to which the senate is expected to make changes the House Rules Committee will meet at 8 00 this morning to consider the Disaster Relief portion. It says it will reconvene on the shortterm spending deal at a later time several other items are expected to be included in this package but its unclear how shortterm reauthorization for the Surveillance Programs known as fisa, Childrens Health insurance, a shortterm patch to that and a Budget Waiver to bypass mandatory spending cuts that were triggered by the tax bill the house would need to issue a paygo waiver, thats the only way the president can sign the bill the last item wasnt mentioned at a meeting last night of house republicans. Its maybe expected to be left on the cutting room floor. Deep divisions remain among republicans with defense hawks wanting longer funding, conservatives wanting spending offsets and theyll try to reach a deal somehow mark meadows is chair of the Freedom Caucus and he spoke leaving the meeting last night i dont see a Shutdown Scenario i see that theres still work to get to 218 votes, with republicans only this will be a whole lot easier if you had democrats willing to come across. The house conducted a whip last night to gauge support for the deal speaker ryan needs unified support to garner the 218 votes in the house the senate needs at least eight democrats to support the measure. Thats why they abandoned an idea of a comprehensive full package that would get you longer than january. Theyre just trying to figure out something streamlined that would garner enough support to get everybody on board all right we will continue along this conversation i dont know if you want to run to a tv set or live your ifb in. Mike alan is here. Internet feedback what is that ifb what does it stand for an acronym for that little thing in our ear mike alan is executive editor and cofounder of axios. I will tell you highway i want to sta how i want to start this we have midterms coming up its a victory for the administration its an unpopular bill reminds me of obamacare, how under water that legislation was for years and years and years. Do you expect this to stay unpopular as we see some of these things happening with companies and minimum wages and that how much has to go how Many Companies do we need to see doing this, how many employees need to get bonuses before this becomes more popular, do you think . Im happy to be here on the horoscope edition of squawk box. What is your sign . I was born june 21st. You dont know . Are you in the middle . Everything is always awesome, thats my horoscope. The job you need added is yours. People will feel it when this hits them. It will take a long time to spread out there needs to be a real rally that turns into real actions by more companies were hearing forecasts from the top that this could be there could be a boom as a result of these tax cuts jamie dimon, ceo of jpmorgan told me that we could have years more of this global synchronized growth that weve been enjoying, a rare phenomenon. Yesterday in an axios event, the white house economic adviser, gary cohn said were not near the top of what could be this rally. He said as a result of these tax cuts he expects more ceos do this because of fundamentals and new incentives so ive also seen that i see one day republicans are out raising for 2018 the next day democrats are out raising. Then they have this spread in the generic preference then the people polled were 15 more democrats im not sure what to believe at this point i know its really divided im not sure what i would be saying as a democrat what do they have to hope for. They have to hope for this not to work, dont they . If this works, how can they hope this really generates 3 , 4 growth when that would be not a positive for 2018 for them two things. One, republicans are starting in a hole on this when you talk about this tax cut being this tax reform being unpopular at this moment, its not just unpopular i look back, its less popular than t. A. R. P. Was, the bank bailout. And if you look back to the clinton and bush 41 years, this tax cut is less popular than sub tax increases. Thats part of the reason why companies are trying to curry favor with the white house by making these announcements gary cohn yesterday in my conversation with him was candid about the importance of the psychological effect he said you sit in a boardroom, he was number two at goldman sachs, you sit in the boardroom and psychology is important. Psychology drives, job increases, which drives growth a lot of this is psychology. Then on that generic poll, of course dont Pay Attention to that what matters is ten states for senate races, and some couple dozen or a couple house races. Everything else is noise the generic overall will mislead you at this moment and for some time to come hard to handicap it then. What will you be thinking about . I know youre not just going to have a relaxing holiday, are you . You will be thinking i am. I will be in oregon. Then i will be at the sugar bowl, the oldest of the oregon nephews works for the roll tide football team. Well have the whole family in new orleans on Christmas Eve and new years eve when trump gets back in january, he is in a pretty high gear in terms of trying to he wants to be a success as president badly. What do you think he starts attacking next or going after next this has been an incredible adrenaline shot. As weve seen on squawk box all year, theyve been dragging all year he finishes the year with quite a record yesterday we did a piece about triumph. And trump not only because of this big win which is really a triple it takes in tax cuts, tax reforms, but also drilling in alaska and the repeal of the obamacare mandate. Thats three in one. You add to that regulations, judges he has quite a list that really has given this white house, which has dragged a lot, a spring in its step january 3rd, they already got their calendar invites, theres going to be a meeting in the west wing about infrastructure, including some transformative technologies theyre talking about, like building the infrastructure for Autonomous Vehicles can we build tunnels for high speed rail thats january theyll talk about welfare reform and gary cohn ticked off other issues, including the banking reform both the house and senate have versions of that housing reform, too. Theyll try to step on it. But theres not the money to do a lot of these things they want to do. Not going to get better with the two sides of the ill. I like watching schumer lately, he keeps saying, you know, if you guys do this, you will lose so badly in 2018 its like, are you sure you want to talk him out of this, chuck you keep warning them, if they do this, theyll lose. Just say this is great do it you should even vote for it then what should chuck be doing now never finish off a man who is digging his own hole that is the view of democrats. They think this psychology will stay and that puts them in good position republicans are having trouble recruiting the candidates they wanted and in the most important states, important districts. Thats a leading indicator of trouble in 18 despite this big bump coming out of the end of the year well talk to you again maybe come down to squawk square next time. Im in. When we come back, is your portfolio ready for the new year what are you waiting for well talk strategy after the break. We have a huge lineup today, starting with senator bob corker, then steny hoyer at 8 00 a. M. Kevin brady at 8 30. Thats followed by paul ryan at 8 40 a. M squawk box will be right back. Trust 1 doctor recommended dulcolax. Use dulcolax tablets for gentle dependable relief. Suppositories for relief in minutes. And dulcoease for comfortable relief of hard stools. Dulcolax. Designed for dependable relief. Welcome back lets check the broader markets as we continue the countdown to christmas. Joining us now to talk about the markets is Chris Retzler and simien hyman gentlemen, welcome to both of you. Lets talk about the tax bill and what happened. We are saw some gains yesterday at this time by the end of the day there was a decline in the market. What happened . We had a run up that was sort of paid for. If you think something on the order of 5 , 6 , 7 of this run up was anticipation of this tax bill, now we had it. Just go back to where evaluations were, now were off 2017 earnings. Put it together, were trading at 18, 19 times 2017 earnings. Thats not too bad but inflation is picking up. So well have to see a bit of that growth dividend come out of this tax policy to support evaluations. Chris, i thought that maybe walking in two days ago that a l