Open, wall street looks to close out a recordsetting week. Peacock joins the streaming wars, how comcasts forthcoming platform looks to separate itself from the streaming flock. Joining the four comma club, alphabet more than 1 trillion all together more than 17 of the s p 500. Stocks looking to hit new record highs upbeat news on the economy as Housing Starts rise in december to their highest level since 06 up 16. The and just to put that into perspective we are looking for an increase of 0. 4 amazing, and of course the commentary from tepper and druckenmiller over the past half hour has done a lot. Its fed in the same direction. Well pick apart if weather was a factor in the Housing Starts and the rest but that is when the equity futures took another leg higher when the numbers were reported comes after we got other good housing data its become very hard to decide that the headlines are going to get in the way of a market thats been on this autopilot higher the guys like david tepper and Stan Druckenmiller know better than than to get in the way of a market that seems to be working and refreshed every day by really strong credit markets and people feeling a little bit too cautious coming into the year. Were going to reach a limit to this on every metric, the indexes are very stretched, and sentiment is getting a little bit overexcited, but its been very, very hard to pluck out that point to say okay, its done enough in the short term. Headed into earnings season, of course, there was a neverending of chorus people come on our air, earnings are important, we have to justify the multiples. Weve only gotten the financials what is your sense people are essentially saying this reminds me of the last three quarters or so where expectations are super low every company will come out and beat by a lot. The reactions wont necessarily fit. No. I think its enough to keep that story line intact to say that we are an improving trend and not otherwise. By the way, were talking about the top five, you know, nasdaq stocks driving things. Its not about earnings. Its not about this quarters earnings its about many, many years old worth of earnings that the market is betting will continue to come through. So its a short term longterm the banks didnt hurt in terms of earnings picture. Theyre not leading the way. No, but nothing that occurred there is going to stop anybodys belief in the momentum of the overall market or the ability to continue to pay these prices were in the virtual circle point of this rally where its like everything seems to be working, and you know, its hard to decide when its going to overshoot. Now, you got some transport needs. I was going to say that are not working. Csx volume down seven, another challenging year ksu low single digit growth in 2020 expediters, q4 activity weakened dramatically how long do we look past weak december data, at least in transports, weak q4 data its a good question, how long i do think that the trade agreement, whatever the merits and the substance were, it gave people permission to say now we can bet on a ma to re turn you have to start to see the ma to cro turn in terms of the industrial and freight part of the economy. The subindexes of the transports were trying to do better, trying to pull away and well see if this sets them back. Fascinol, ppg, none of them, again, the industrials sort of, i dont want to call them bellwethers but reflections not looking as good. Theyre not and you might have an investor say exactly why you buy apple and alphabet here and i think it all fits the same story, because if youre not talking about a recession, if youre not talking about an inverted yield curve, if youre not talking about rates going too high to compromise valuations and not talking about credit stress, whats your catalyst right now, the context is the upside catalyst. Stuffs working, and look, were getting to a point, it looks like january 2018, were half way to that gain we had in 2018 in terms of yeartodate on the s p and it got too much at a certain point and it didnt take a lot in terms of news flow to set it back. On the other hand, maybe some of the weaknesses this boeing noise which well get to more, incremental news on ba today there was china data overnight. Euni eunice yoon in beijing china grew at its slowest pace since 1990 pu picked up at the end of the year. It came in at 6. 1 , q4 at 6 because of the trade war and weaker private consumption the december data has been raising hopes the economy here could be bottoming out the Industrial Production new blew past expectations, manufacturing investment came in at 3. 1 , this was much stronger than the past four months, and that led several Research Houses to raise their estimates for 2020 socgen and fitch upped estimates to 5. 9 growth oxford at 6 with an improved outlook. Chinese leaders have political reasons why they want to see the economy growing around 6 mainly because they promised the public here that theyre going to double the gdp and incomes from 2010 to 2020 so the Statistics Bureau today said beijing would ensure economic growth, stays within a reasonable range and roll out support measures if necessary. The trade deal is expected to help stabilize growth. The Research FirmCapital Economics believes that the tariff relief and reduced tensions will lift gdp by as much as 0. 3 fitch sees a bump of 0. 2 , so that impact might not be as much as people had hoped, but it seems to suggest that a lot of the problems of the economy lie elsewhere. Zed said theyre concerned Consumer Spending could be a wildcard, worried consumer also hold back because of anxiety over the slowdown. David . Eunice, thank you eunice yoon reporting for us live from beijing. Back to report news. Late yesterday comcast, our parent company, unveiling details regarding peacock, its Nbc Universals entry into the socalled streaming wars the free version of the service is going to launch july 15th, consists of 7,500 hours of programming. It is ad supported, meaning there will be advertisements the Premium Service will launch in midapril on a limited basis. It will have a 4. 99 a month cost, that is with commercials as well, it will be 9. 99 if you dont want any ads, in both cases subscribers have access to about 15,000 hours and it will increase over time of programming. Yesterday, at an event that showcased peacock, Nbc Universal chairman steve burke spoke about how the company views the ability to capitalize on streaming. We think theres a clear opportunity to create a streaming platform that we own and operate, that give people what they want, when they want it, but allow us to monetize we also think were uniquely positioned to take advantage of this opportunity and play a leadership role in the on demand streaming world. The company has positioned itself, guys, in what they believe is a white space, a different area than of course the key competition between netflix and disney plus and the coming hbo max and amazon, and others, and not competing against youtube, or facebook, where they have user generated content, youtube to a lesser extent pluto but this idea of high premium content, ad supported and really when you talk to executives, and i did get a chance to talk to steve burke and Brian Roberts, the ceo of comcast, prior to the meeting yesterday, in many ways they viewed the real competitor here as youtube yes so much time is spent on youtu youtube, so much of it is spent they say with Nbc Universal content, think snl or the tonight show cut up in parts theyre not getting monetization from and love the opportunity to bring back that content and actually monetize, not to mention obviously a very broad portfolio of entertainment, including a bunch of new shows as well, and the ones that you see right there, some of the old favorites from years gone by that will give them the opportunity they believe to sort of benefit in a way, also pointing to hulu, where its the ad supported part of that service that actually is the most profitable and getting as much as 10 in advertising i think its per sub, so those are the numbers theyre looking at is where they see the opportunity. Yes, i mean, obviously, competing with youtube for eyeball hours and the ad dollars that come with it, and it is a different equation from the pure streamers like netflix, where its about well, weve got to constantly have this impression of newness and abundance, just to get people to pay the Monthly Subscription fee, as opposed to we need them to really latch on in large numbers to what we put out there, and so i do think its fascinating, plus the live piece of it i guess there is a live aspect to it, which is different also i thought it was impressive in terms of the User Experience and theyve gone a bit about it differently as well. Youre going to have live and sports, but its not as though i dont believe theyre going to be streaming cnbc service. Yes theyre going to be cureating toorlds the b towards the bigger story of the day. When you go to it youll have the ability to look down into a news part of it, that gives you information on the bigger stories of the day the olympics will be available on the service, but dont expect the nfl or anything like that. However, who knows where things will go over time as this continues, this platform continues to evolve. Yes, also theres the affiliate relationships you got to remember. If youreable to see fallon before it airs on television, thats bending the model in ways we have not seen before. Thats right and you will be, 8 00 is when its going to be available, eastern time on the service, so yet another reason they hope that they are able to bring what they believe will be as many as 30 million to 35 million subscribers by 2024. Remember the idea is to be break even by 2024, roughly five years, by the end of five years after the service is launched. Weve already discussed and they reiterated 2 billion in spend over the next couple of years, programming, marketing, technology, obviously being the key part of that, and some new, there will be some new programs there as well, but the idea is not to spend anywhere near, not to get in wars in terms of content with the likes of a netflix spending 17 billion or amazon or warner, and we will continue to have content produced at Nbc Universal that finds its way into other platforms still. Yes interesting, a lot of fun with the peacock theme. Yes in the marketing. A lot and jokes that you can finally watch law order 24 7, never been possible. Yes when we come back, shares of microsoft surged more than 300 since innadella became ceo six years ago. Take a look at the premarket here, downgrades of ibm, southwest, marriott, ebay, Morgan Stanley, twitter, well get to all of that when we return thats why Xfinity Mobile lets you design your own data. You can share 1, 3, or 10 gigs of data between lines, mix in lines of unlimited, and switch it up at any time. All with millions of secure wifi hotspots and the best lte everywhere else. Its a different kind of Wireless Network, designed to save you money. Switch and save up to 400 a year on your wireless bill. And save even more when you say bring my own phone into your voice remote. Thats simple, easy, awesome. Click, call or visit a store today. All right, we got the Housing Starts number. Lets get Industrial Production with Rick Santelli hey, rick. Yes, a minus sign unfortunately, down 0. 3 for Industrial Production for december so that completes the year, not necessarily a great year there was seven negative month over month changes, only five positive for the 12 months of 2019, and if we look at utilization rates, 77. 0, exactly as expected. 77. 0 fits in nicely with last month, of course, sequentially it was upgraded to 77. 4 but these are pretty good numbers. The lowest number october at 76. 6 weve seen rates move up considerably, considering how tight the ranges have been, carl, and a lot of that of course happened after more positive data this morning and whats going on globally david, back to you rick, thank you, Rick Santelli in. In his nearly six years as ceo, Satya Nadella transformed microsoft, a trilliondollar behemoth focused very much so on the cloud, but a new part of the companys strategy for the future involves a goal to be carbon negative by 2030. Last night on mad money nadella expressed to jim cramer about cloi mat change and having it a potential impact overall on the world economy. The science i think at this point is very clear. If the temperatures rise, i think the impact its going to have, on the economy we enjoy or the capitalist system we all enjoy i think will fundamentally be in jeopardy if the planet, which is the resource, the factor of production that fueled all of our capitalist society is in danger. To me thats the existential priority its been quite a week, beginning with the announcement of a fundamental reshaping of finance. Now some people took it as talk from black rock and Ceo Larry Fink i think it was significant in terms of their letter to the ceos, how theyre focused on companies far beyond the metrics of earnings per share and revenues but including in a significant way their impact and sustainability goals and then seeing Companies Like microsoft come out with very specific plans to become carbon negative by 2030 and this is more interesting in some ways, we move all the carbon they put in the atmosphere since 1975. Remediate the whole thing by 2050, which will involve a lot of new technologies they were talking about, some of which exist, others of which are not fully developed. A forestation and reforestation, soil carbon sequestration, bio energy with Carbon Capture and storage and direct air capture. Right i dont know direct air capture . Pull the carbon out of the air its crazy. Theres sort of an amazing tiering of motivations for a lot of this, it would seem one take it on face value, a principle stand, the right thing to do. Two, dollars are moving in this direction in terms of both younger customers wanting to buy products from companies that reflect these principles, and also just Institutional Investors doing it, and you know, i think also theres an Employee Service aspect to this. Youre competing for talent. It seems everything you hear, people under the age of 30 or whatever want to work for a place they believe is doing the right thing. T puts that Business Roundtable shift in what the Corporate Mission is in general into sharper relief with every incremental move pepsi, blackhock, microsoft, the airbnb news that chesky has given to sorkin. Companies are thinking in different ways i think this is really, i mentioned it last year of course, because it did feel like really youre starting to see the assets accrete to these kinds of strategies, so where the money is going to be invested, and the companies are responding the investors are responding obviously in terms of blackrock, and the companies themselves, but theyre talking about a 15 metric ton fee that theyre going to put in place immediately on all scope of one and two emissions, scope three travel emissions, so everybody in the company is going to be think being their own Carbon Footprint but for a company like microsoft, its also about all their vendors and how theyll be evaluating them and how those vendors go about delivering the service they do and perhaps a much better way in terms of efficiency and lack of Carbon Footprint. This is having an impact, when it must be said our government, of course, is not taking the lead in any way, shape or form in terms of trying to combat Climate Change were aware the market is giving microsoft all kinds of credit to do whatever it wants to do because stock is working interesting to hear nadella tell jim ballmer gave the go ahead to the cloud stocks aiming for another historic day look at the futures here, a reminder, you can always catch us live on the go, on the cnbc app, stick around for more squawk on the street, as we count down to the opening bell in nine minutes. I can. The two words whispered at the start of every race. Every new job. And attempt to parallel park. electrical current buzzing each new draft of every novel. typing clicks the finishing touch on every masterpiece. newborn cries it is humanitys official twoword war cry. Words that move us all forward. The same two words that Capital Group believes have the power to improve lives. 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Good morning weve been looking at this relentless rally its orderly not given a chance for people to buy dips and pullbacks. The only question, has it stretched a little bit too far or can you bet it keeps rolling . Listen, i thought it stretched a little bit too far two weeks ago, right ive actually been expecting i thought 3,300 would be where we hit resistance, tried it a couple