For sirera iara eisen. What recession a better than expected jobs report started the morning with an optimistic tone china says it has reached a consensus with the u. S. In this weeks trade talks and exxon ticking higher along with industrials and financials. And in just a few minutes, the actor who plays logan roy on hbos secession will join us on the cutthroat world of media competition. Hes going to be right here at post 9 joining us for the hour is kara fineman. Here we are sitting basically at the highs of the session i found it really interesting that yesterday the markets got pretty derailed by worries that the trade talks werent going so well today we have an agreement of principle and we really didnt move so much we have that other data out today, so its hard to really parse what to me, this kind of day seemed pretty goldilocks. You had a really good jobs number in the morning, right you had progress on china. Although ive got to say, im skeptical on every update that we get and then details are very thin and or sometimes nonexiste nonexistent, but it was a headline, anyway and then we got some other Economic Data, pmi was a little but not terrible, at all so theres a lot of good things happening. We did get the fed cut yesterday, and to me, the most important things, earnings have been pretty good and outlooks have been pretty good and i was afraid of that, very afraid of that when we had such volatility from the tariffs being raised and the uncertainty about, would they be raised further. Now that theres a little bit of a detente for the moment, people feel better. Ive been surprised how good earnings are so theres a lot to like all right were going to dig more into all of that. A lot to like a little later on in the show. A lot to like and a lot to focus on in fact, it could take all show. If we focused on everything. Lets not. Lets dig in and dig out the really important stuff youve got bob pisani whos watching the overall rally here at the exchange. Steve liesman honing in on some surprises in todays Economic Data and mr. Josh lipton is covering googles latest acquisition. Its a big one bob, first to you, though, on the overall market, and what was a pretty doggone solid week for stocks thats right. And its getting even more solid. Whats been happening, brian, better Economic Data in the United States and even in europe and even in china is putting the emphasis again back on cyclical names that ebb and flow with trade talks, but also with economic news. And today its on economic news. So look at these global cyclicals. Caterpillar, dow, united technology, new high for utx there. 3m, jpmorgan, a little bit higher as yields have been a little bit better recently and your more defensive names that were market leaders, in the middle of the year, all down here, these are mostly Consumer Staples names that you see we have new highs at the s p 500, but we also, interestingly, have a new high in europe. The efa index there, thats europe is at a 52week high. Japan is surprisingly at a 52week high what we need now is Broader Market participation than a few of the biggest market cap stocks if you look here, we have value at new highs the triple q, nasdaq at new high materials right near a new hig if not there, as well. What we need is some individual stocks breaking out and that will happen if we get up another 10, 15 points or so in the s p guys, back to you. Thank you very much, bob. We do have a tale of two data points today Karen Finerman was talking about that as jobs top estimate of manufacturing. This is the mark Steve Liesman joins with us more of those details a potential game changer of jobs report that forces economists to rethink how much the recent slowdown activity is hurting the jobs market. The government reported that payrolls grew just 120,000 in october. Thats the lowest in five months, but job growth was a lot better than the meager 75,000 wall street had forecast and lackluster job growth from the prior two months were revised upwards by a massive 95,000 jobs. Finally, the number was depressed by striking gm workers, who have mow gone back to work. You can see that in this next chart we have up here. Leisure hospitality, very strong educational services, always strong wholesale trade, up 11,000 government down 3,000. A lot of that was census workers coming off the payrolls. That wont happen again. And that big decline in manufacturing you see there, that was the gm strike, at least in part. And thats not going to happen again. The ism Manufacturing Index coming in below consensus shows the sector still contracting but it was shrugged off by the market, perhaps in part because it was higher than last month, and the weakness isnt accelerating and if Karen Finerman is chill with the ism report, then, of course, i am too i was just thinking, steve, is it possible, like you said, its not getting worse we know that manufacturing is weak and so perhaps theres some relief in some of those results. Its sort of what we knew. I think thats the way to think about it, courtney it was also mixed inside you have some very key components of it, were negative. Including the employment part of it, but other parts were positive its a lot more mixed. It was a big surprise a couple of months ago when that thing turned negative and now it looks to be stabilizing. Maybe the outlook for the Manufacturing Sector wont be quite as bad steve, well see you tonight, buddy. Thank you very much. Yeah. All right its going to be good. Also today, some relief for beaten up fitbit investors, google coming in, playing the hero and buying the company for a little over 2 billion josh lipton has much more in San Francisco, i guess koe cold comfort, josh the stock is soaring right now fitbit was a 50 stock a couple of years ago yeah, so youre about beaten up is one away to put it. Fitbit stock is down about 90 from its alltime high but heres the news, google, this is a way to keep expanding its hardware business which includes everything from smartphones to smart speakers and a way to push harder into wearables. Google offers this wearable operating system for other companies to use, but it doesnt have a smart watch of its own. Still, theres plenty of competition in wearables, too. Loop ventures estimates that oop apple has now sold 76 million of its watches to date analysts also think this deal will likely attract scrutiny in washington, too, given that google like so many other Big Tech Companies clearly now on the radar of regulators. Guys, back to you. Thank you very much, josh what do you think of this, karen . Representative car katie porter tweeting out that google is an antitrust violation. Is that a concern . It isnt. Josh has talked about apples position in wearables, right so actually, fit bit would do better under the google umbrella, with all of those resources to be a better competitor than on a standalone basis. So that actually doesnt hold water for me now, where its a political, you know, sort of football, so maybe, you know, its a 2 billion deal if google does it, thats great. If they dont, its not really changing i think it makes the better competitor i think they should want it. Well, they got it no, i think the regulators should want. Well, katie porter doesnt want it, because she says the regulators need to do their jobs and go after monopolies. She literally called google a monopoly in her tweet. A powerful california democrat, by the way i mean, southern california, its different than Silicon Valley all right. Weve got 52 minutes left, whatever, in the trading day here the s p and the nasdaq are on pace for record closes lets talk more about the markets today, this week, and going forward. And bring in neela richardson from edward jones. You know i love charts everyone is talking about manufacturing and how its been slowing and how we must be doomed in 2015, we had five months of weak reading and what happened and we were just fine thats right. Thats right we avoided a recession right now, were looking at three straight months of weak manufacturing data that does not mean that this economy is going into a downturn and i think this weeks data really validated that assessment markets and investors have been kind of a drag and pretty bearish about the outlook. Can you blame people . After ten years of a bull market run, secondlongest bull market of all time, its natural, i think, and maybe healthy for people to be a little bit skeptical. Every time we see a weak data point, see, there it is you know as well as i do that age is just a number, and we have to look every year, i feel that more way, by the way. We have to look at the fundamentals to see whats driving that bull market forward. And we have a rahal strong labor market, a steadfast resilient consumer we dont think thats changing what are you seeing in services were seeing services again insulated a bit from these trade tensions and thats the key point, i think, that youre raising right now. If youre seeing on the trade front in terms of uncertainty spills in through manufacturing into services, thats when were getting concern, because services are really the lions share of the economy manufacturing is relatively smaller. Karen, what do you make of the fact that energy is the leader today we know we had the exxon results, but how long has it been since weve seen this would you buy anything like this beyond today or is this a oneday scenario aging aint nothing but a number, courtney and energy looks like its 162 years old. You can make a very bearish longterm case for oil, right . But i dont own any yes, it is going up, i guess, would be the short answer. I dont own a lot of nrenergy a all. I would take that a lot of these names are heavily shorted and we see oil move up a little bit so people have got to come in and cover the shorts you remember day after the saudi attacks when oil spiked. You literally had heavily shorted permian and bakken basin Companies Jumping 75 in a day that didnt last for the really levered ones. The oasises, the continentals, not the exxons and chevrons, whose numbers well get to in a bit, courtney. They werent terrible, but no way they were good isnt it interesting how shortlived that rally was on what years ago would have been a monumental event well, we are awash in oil and i think it goes to part of the economy, which is that we always talking about gas prices spiking. Assist drain on the consumer we dont have that is this a bit and i dont want to say goldilocks, because not everything is perfect. Overall, when we look at the Macro Economy from 30,000 feet, does it look pretty good to you . It does it does. But thats not to say that there are not risks. And its not to say that the pace of growth is going to be above trend. Were not thinking that way. We actually think that growth slows in the second half of the year, slows into 2020. But i think its safe, in our view to assume that a recession is avoided and part of the reason is because youre seeing very low inflation, including in energy prices, but in other consumer goods, and thats what matters wage growth that is still growing and inflation thats still contained. Got it. Neela richardson, thanks for joining us thanks for having me. Still ahead, citi picking winners in the Airline Space today and one name they say to buy is down more than 30 this year well dive into that note, next. And theres a lot more to do still ahead on a busy friday, including announcer coming up, a new entrant joins the streaming wars but will appletv plus be a netflix and hbo killer youre not a killer you have to be a killer. Well talk all things streaming with the man who plays logan roy on hbos secession. Arwiinacawdnng tor brian cox stops by post 9 ahead on closing bell. Of a different kind. Adp helps canyon ranch place the right people in the right jobs, so employees like dave can achieve what theyre working for. Welcome back to closing bell. Its now time to get the word on the street citigroup initiating on Airline Stocks with a buy rating for delta, united, and Spirit Airlines and a sell on American Airlines spirit is the biggest laggard so far this year of that group. Its down more than 30 . The farm naming delta as its top pick, saying the company screens attractively on revenue diversity. Delta shares are higher by 1. 4 bank of america Downgrading Booking Holdings this is the former priceline. Com. The firm citing negative signals into the Fourth Quarter, headwinds in asia and Competition Among other reasons. And Jpmorgan Chase doubling down on its call on ge. They maintain an underweight rating, basically a sell, and get this, a 5 price target on ge now, jpmorgan saying that while there is no single smoking gun issue with the company, it still shows a situation that is, quote, far from lowrisk and stability is more than discounted now, ge, karen, 10. 35 stock so Jpmorgan Chase is saying, it will fall by more than half. What do you think . Right well, you have to remember the debt so its not actually more than half when you talk about the whole enterprise value so i actually way back, when larry culp first got in thought, maybe theres a chance he could turn it around so i have a leap position. I figured, i would rather own it higher in the future and have you know, so i have a 13strike leap, figuring, if they start to make headway, therell be this Virtuous Cycle theyll be able to pay down debt and get a better multiple. And i would actually own it higher and for our viewers who maybe leap is a longterm options bet. Thats what youre youre making a long maybe multiyear not the najarians like, tomorrow the stocks going to whatever this is a multiyear thing yes, but now its aging, like we all are, but its just a number and it will expire in january, and my chances of it actually being in the money are, i think, quite low. Its a bold call and theyve got a lot of wood to chop to get through that debt. And maybe it will happen but, i know what my risk is. My leabs are going to zero come january. And youre not wildly bullish. My risk was all the premium we have about 42 minutes now until the final closing bell of the week and guess what, we are on pace for record closes for both the s p 500 and the nasdaq and on deck, you may think that chevron and exxon are basically the same company, but there are some key differences, particularly in the earnings today and we shall hit them. Plus, media moe gull logan roy, well, brian cox, the actor who plays him on secession coming up next beumr youve got to remember to nbeone, you have to kill. Thanks, dad its them, calling us. Its going to be a week before they can get through on these roads shhh, sorry, i didnt catch that. I said ask how soon they can be here right now . Whats now . He says theyre surveying our property now theyre probably at the wrong house i dont see any hovering his name is hovering . Look up . By automating claims with Machine Learning and analytics, cognizant is helping Insurance Companies advance how they serve even hard to reach customers. Cool as your life grows, so do your needs. And with bank of america and merrill, the benefits you get can grow, too. As a preferred rewards member, you can enjoy Priority Service and exclusive discounts. So your growing life can be more rewarding, too. What would you like the power to do . Doprevagen is the number oneild mempharmacistrecommendeding . Memory support brand. You can find it in the vitamin aisle in stores everywhere. Prevagen. Healthier brain. Better life. Favorite hbo show right now . No question, its got to be secession. That was warner media ceo john stanke at the unveiling of the new streaming service, hbo max. And that feeling is echoed by many on wall street. Joining us now to discuss the media landscape for beyond fwunthe bundle series is brian cox, media mogul who plays logan roy on hbos secession and also stars as lyndon b. Johnson on broadway thank you so much for being here i watch the show very closely. To me, it feels like its a bit of the news corp. Murdoch family maybe sprinkled in with some disney did you talk to any of these executives for this role i had one strange incident when i was in london and i was in a cafe and this gentlemen tapped me on the shoulder and said, were enjoying the show, its really great, we really love it, but my wife has a little difficulty with it at times. And i says, why is that . And he says, well, her name is elizabeth murdoch. There you go. That was that its a kind of amalgam jesse wrote this well, he wrote a play and frank rich steered him towards the roys it feels more in a way that the family is, from what i see, the dow jones family before murdoch bought it, because they were kind of you have the brother who kind of doesnt do anything no offense to that brother, if hes watching when they came to you and they read the script i didnt or when you looked at the pictures i had a treatment. Because they didnt have a script did you or your agent have any idea that it was going to become, arguably, the hottest show in the United States. No. We had no idea i mean, you know, we did even in the first series, you know, it took a while to get going but i think thats because i was ill in character for a lot of the first series so i wasnt quite present. So by the second series, low kblowgan as well. In fact, i was only supposed to do one series. I had a conversation with both adam mckay who directed the First Episode and jesse and adam mckay was in l. A. , jesse was in italy. And i said, so its a oneseries part and there was this silence you could cut oh, no, no, no, no,. It will be on more than one series this is interesting, because you obviously youre doing broadway right now i am. Television. I am. Movies. I am. All of these different formats of acting and all of these different distribution platforms now. Yeah. What has changed for you having content distributed in different ways with streaming now. Does that change the way you look at accepting parts . I think streaming it could get excessive. So, you know, i think the book is not closed on streaming we need to see where its going, but its very goo