Exchange this is epic as well why do you get squawk box specific mugs. I dont think we have that on closing bell. You think your set down at the ant kuwaited New York Stock Exchange the whole Stock Exchange is our tv set. The whole future is nasdaq. Its moving forward. The specialists, the middle man. You want to be here, my friend its a lovely new set. It is. I wonder how much these costs, these mugs. I love the New York Stock Exchange we love both. Just kidding we do get territorial once in a while. Im glad you like our new sets and our mugs dont take that with you treasury yields this morning, i looked 190 on the ten year recession fears have faded trade concerns are so 2019, i think. Arent they . Theyre just so 2019 the dollar. Thats supposed to weaken im doing another show today exchange. So am i. Closing bell. Thats your normal show what happened over the weekend . U. S. Military carried out precision defense strikes in syria against a Militia Group following a string of attacks on iraqi bases that hosts u. S. Service members. It includes weapon Storage Facilities used by iranianbacked Militia Group to plan attacks on Coalition Forces we have some oil prices for you there up just about a third of 1 interesting actually how big the gains have been for wti to date. Oil is up 30 . You wonder if that gets in gear, which would be part of what i was talking about with paulson a weaker dollar, stronger commodities things like that were going to do possibly probably not, 29 for the s p. Thats the best since 29. 3 as we stand. 29. 6 would be the best for two decades. You have an endless parade of shmos that come on. We have all the wrong guys too. 29 . 29 . I have guys stuck at 2,700 2750 i have them at 2,500 i have francois whatever his name at ubs and mike wilson the star of Morgan Stanley what happened . Theyre all going to be pontiff kagt about 2020 now and take them seriously again, right . And its the classic we think its going to be 6 or 7 but more volatility this late in the cycle. There you go. Cautiously optimistic but. You cant call them out its hard. Clearly this 29 , in a little perspective because of the q4 selloff. That said, look at q4 so strong. So theres momentum. The buy side, sell side guys, they have financial. Guys that listen to them that work for the firm, have to tell their clients what their guys are saying, and thats important, i guess but really the most important thing to keep the job is not saying anything. Saying we could go up. But buy side guys when you actually have to invest money, either you know what youre doing or it doesnt last very few up 29 they are being found out you have to argue the trend over the last decade has been away. If you have skin in the game. I might listen more closely. Ill take my own opinion half the time. Controversy brewing on twitter. I thought that one was going to be given to me. It has controversy and twitter in it. Controversy and twitter late friday night President Trump retweet adipost that included the name of the alleged whistleblower who anyone in the world who doesnt know who it is at this point its pretty sad. Any way, that complaint led to his impeachment by saturday morning the post seemed to disappeared on many users feeds, twitter took it off then appeared on saturday twitter said an outage caused tweets on some accounts including President Trumps to be visible to some but not to others the president repeated will called for the whistleblower to be unmasked. This was the first time hes directly sent the alleged name even though it was a retweet it included the name first time he has done it in the twitter feed to 68 million followers who also saw one of my tweets about low income wages going up that i retweeted something from axios and axios retweeted something from axios got some of the info from the journal or from the bureau of labor statistics i just retweeted that and he retweeted they had that ready to go. Any way, i did it but dont they hate all the trump deranged people out there are sending stuff to me now. I thought from that you would have got more praise than criticism. Im kidding there are some handles theyre allowed to have about the president are for you, the decorum that you brits have in most instances well, we had decorum. Except the house of commons but you know what i mean the stuff they say about trump. But thats twitter. Is that what twitter is we know thats not necessarily representative. Mine is usually quiet got pictures of my dogs, my kids things like that. You bait some of the haters. I do. I dont answer i send a picture of truch. So you have to expect to be i have a picture of trump with the queen right below it is hillary at a book signing at a costco with one person a lot of people still havent gotten over have you seen that one i havent seen the picture. Its a two shot hes up there having lunch with the queen. Shes down there signing like crickets any way, you want to tesla . But, the division is interesting. Terrible. In that the only hope you have back home is because theres a big that jurorty, maybe the Division Goes away a little bit the past year has been as divisive as we ever had. I imagine that will be the case for 2020. Its going to be weird because people with the trump derangment syndrome off the 63 million deplorables. They dont care. They might reemerge in november what are these people that think whats our country going to be like if he gets reelected with these people who have been resisting for three and a half, four years, their life maybe they have a reason to live thats Boris Johnsons take i think the optimistic take is that, a, a brexit cant be stopped now. Maybe that stops being an issue that people argue about every single day but i think the more optimistic thing longer term that people would argue is that if he is to win back the seats he has won in the north of england in five years time, it will be only if he delivered a very centrist agenda which some people can take as a positive well have to see. Im told to move on to tesla has begun delivering model three electric cars built at its shanghai factory little less than a year that the company begin work at the plant. One took the opportunity to propose marriage to his girlfriend the deliveries are ahead of schedule teslas target date was to get the factory up and running was january 25th took 357 days to bring it on online this is the first wholly owned foreign car plant in china well above 420. 431. Why do you mention 420 . Its when they were going to be bought out. Yeah 4 31 never been that high. Its been a great run strong year. It has. Im trying to figure out whether it makes sense the subsidies are still in the path to profitability is still somewhat unknown at this point. But benefit of the doubt has gone back. Well have a segment on it today. Are you ready for that of course have you done the preparation . Whoa look at you. Look at you. That a boy thats awesome. Did you see any movies recently not in the movie theater. I caught up with the old ones, obviously rewatched love actually as you mugs at christmas time. Love actually yeah, those wonderful. Are you joking . No, im not. Do you have beaches do you have that on a dvd. Dont know what that is. Star wars rise of the sky walker. The holiday. Thats another classic. Topped the Weekend Box Office star wars did for the secondstraight week bringing in estimated 72 million in north american ticket sales. That brings its global total to nearly 725 million. Sonys you man ji the next level finished second bringing in 35 million domestically its global total is up to 472 million and depending on ticket sales today and tomorrow, 2019 could finish as the second or third best year in cinematic history. Total haul of 11. 4 billion in u. S. Ticket sales. Cats is not doing so well. No. Cats was a disaster. You have not seen once upon a time in hollywood . That was so boring. I loved hat. Really . I watched it again on a plane coming back. There was no story line. You have to this is one i try to explain to you the 60s and 70s. The silent black and white ones you love. There were shows like bounty hunter, which Leonardo Brad Pitt was brilliant in that the music was phenomenal you werent born i want to seeene at the end s hilarious. I cried a at that scene. With laughter. No. It was funny. When you grew up in that period it was very tumultuous in the 60s. 1760. 1969. It was capped off by this horrific senseless murder by hippies and the people that died did not deserve to die, believe me to watch it get flipped over where it doesnt happen and everybody is happy and they walk off together it just really was i wish i could go back and change it. Thats why its called once upon a time in hollywood. I get that. I read about so great. I dont know, i thought brad pitt, brandi lets go. Block busters versus oscar winne winners. You dont think any movies started until the year 2000. Its really after 2012 that movies get good. Coming up, well get between andrew and you, were going to get ready youre younger than andrew. Yeah. Quite a bit, in fact. Well get you ready for the final two trading days of 2019 u. S. Equity futures at this hour are in the red but just by a hair, down 13 on the dow nasdaq down 11 s p down 4 then sales force founder mark benioff is calling facebook the new cigarettes well show you what he said later this hour. Well be right back. Announcer todays big number, 335 thats how much the s p tech sector is up in the past decade. Making it the Top Performing index in that period everything your trip needs, for everyone you love. Expedia. For everyone you love. Looking to get your business off to a fast start in the new year . Its go time switch to comcast business and get fast internet on the nations largest gigspeed network. Plus, complete reliability with 4g lte backup. And, cloudbased security to help protect the devices on your network. Greenlight your business in 2020 with fast internet and voice for 64. 90 per month. Switch now and get a 100 prepaid card when you add comcast business securityedge. Call today. Comcast business. Beyond fast. Lets talk markets now as we wind down trading in 2019 and approaching new year joining us for that gabriel grigo covering the economic angle is brett ryan. Am i right, brett, great issues are so 2019. Arent they . Still on your plate . Well, if they reemerge right now we have a little visibility, but theyre still out there. The next thing is were transitioning from trade uncertainty with the election. And historically you have seen lower business spending during election years as businesses sort of hold back and right now you have a big divide between the two parties in terms of how they see taxes and in the future so we have trade uncertainty going to domestic uncertainty. Articles of impeachment sitting on the speakers desk. First time a guy or gal has been impeached in his first term. Just bizarre the market is probably seeing political gridlock at the moment and the fed on the sidelines with the still dovish bias and in a low inflationary environment with the fed not concerned about inflation and still having a dovish bias and this political gridlock, thats probably a good setup for markets actually you think inflation will become a story this year no. You zmoedont . No, not for a while the next two to three years we see them cutting rates in 2021 in order to boost inflation. Could get inflation across the atlantic and therefore see the dollar weaken relatively speaking in the year ahead dollar has been weakening a little bit i dont think we have that Much Movement in the dollar given that Central Banks all have done their policy and on the sidelines now. The interesting thing is the feds policy review is one of the major themes were going to talk about for the next six months thats going to take them probably in a dovish direction towards some form of average inflation targeting. And how they go about achieving that whether they cut rates to prove it or whether they go for Something Like an opportunistic they dont hike into stronger inflation will be important for markets. Was that your rumsfeld quote that i saw you worry about unknowns but its the unknowns that are the ones to worry about . Whose quote was that yeah, that was mine sounds like a yogi berra, the unknown unknowns are something to be concerned about. What is it in 2021 that no one is talking about that could derail everybody is feeling pretty good after this last year in terms of the economy and in terms of the markets. Historically every time you have an environment with a lot of optimism or complacency and dont see lot of obstacles down the road any idea yes i would say one of the probably more worrying scenarios would be some kind of radical outcome the mid term election, which seems unlikely right now but you never know its the president ial. Yes, yes. Youre talking about at the national, president ial level yes its unlikely right now but you also might expect circumstances that may lead to an extreme outcome in those elections and that could totally not only if that happened also the perception of the possibility that then can happen can probably derail the market a little bit that would be one slightly unknown. Ive seen this in previous elections where different people rise then you take a really good look at them and then they fall and then someone theres a rebound of someone else and then they rise. John kerry wasnt going to get in and finally got it. I have seen this before. Warren was up. Shes sort of down and out biden up and down. Hes back up but bernie i keep reading these articles dont count bernie out and it could actually happen. That would be i dont think he could get elected president maybe it doesnt happen but it could jolt the Market Perception changes, that in itself before the outcome could have an effect. Trade youre not concerned about even if the deal doesnt necessarily come through, you think the market has been too focussed on that. Personally im not. People are getting a sense after so many false alarms that at the end of the day, the percentage of gdp that is under threat especially for the United States relatively modest. Therefore there is no deep Macro Economic they shouldnt have a strong impact. I had this feeling all along a lot of people given the false alarms have a similar idea i wouldnt worry about that too much. Do you have a closing comment on political theres a few things. One, republicans senator controlled by the republicans. Its not just what happens with the presidency who is going to control the senate here. The opposite of 2016, you have 23 of 35 senate seats up for reelection that are gop seats now the democrats need to flip four and win the white house to take control of the senate or they need to flip five in order to keep two to flip it without winning the presidency so ucheven if Bernie Sanders wi and republicans retain the senate, nothing happens and were in gridlock and Bernie Sanders presidency doesnt do much like wise donald trump wins and its a democrat senate, were still in gridlock. Different permeations here that i think people need investors need to think about. We got predict it biden still at 25 cents. Bernie at 17 cents Elizabeth Warren is below andrew yang i dont know what finally and its early not a lot of liquidity or betting going on yet thats something to keep an eye on brett, thank you you were an Israeli Special forces or something . What were you . I was in para troopers in an elite unit. How many times dud you jump out of a perfectly good airplane, like again and again and again, never learned that everything is fine, dont jump. Its not a bet you wanted to keep doing over and over we always thank people for their service here thank you for your service there. Thank you for your service here today. Nothing compared to being an israeli para trooper pleasure nonetheless. Still to come the new tax law changed the math contributions in america we have new data on just how much americans are giving coming up you leave it to me. Ill get your taxes in an ok place. What . Just as soon as my audits over, this gets my undivided attention. You take a lot of trips to the caymans, phil . Pretty great, right . Oh phils legally dead. Fell off a boat. Going by denis now. Celery. Long story. What do we got here. Oh. Not going to want to see this. I dont think this is going to work. Just ok is not ok. At t has americas best network, now with our best plans, at our best prices, starting at 35 a line for 4 lines. New from at t dont get mad. Get e trade, dawg. But he wanted snow for thelace holidays. So we built a snow globe. Ill get that later. Dylan but the one thing we could both agree on was getting geico to help with homeowners insurance. What . Switching and saving was really easy i love you what . Sweetie hands off the glass. Ugh call geico and see how easy saving on homeowners and condo insurance can be. I love her time for the executive edge, Charitable Giving may be down, but its not out according the a new report we are joined with all the details with kayla good morning. More taxpayers are using the higher standard deduction so fewer americans are itemizing the charitable donation and led charitable donation to fall since the tax cut in jobs act was enacted. It was noted a bad as originally projected. In 2018 they anticipated giving to causes besides education and health would drop to 30 billion in 2019 and rise to 34 billion in 2022. But data out from the jct now raises those estimates to 33 and 37 billion respectively a 9 rise the chronicle of philanthropy wealthy individuals still itemizing their taxes are giving higher amounts and large wellknown charities are reaping the benefits the middle class donors who are impakcted by this tax chang tend to give to Human Services charities, Disaster Relief charities, those sorts of charities. So the change in tax law affected middle class donors united way is among the nonprofits working to change part of this tax law but its been unsuccessful so far kayla, clearly its changing year over year, but the more interesting comparison i always think is the u. S. Versus any other nation in the world is just by far and ahead in Charitable Giving b