2072 and change for a new alltime high. The nasdaq continues to march ever higher today up about 17 points right now. Were just about 5 now away from nasdaq 5000. 5 . Yeah, right . But think about how long its been. March of 2000 when it hit that mark and signaled the top of the internet bubble all those years ago and not close to that level since that time. And were wondering getting closer whether this number is making some investors nervous now. Hmm. Thinking thats the completion of this bull move. Right . Well debate it. We have a pair of heavy hitting ceos ahead. Joseph swedish as they change from wellpoint effective here and here to ring the closing bell and changing the Ticker Symbol and talking obamacare impact. Plus International Papers new ceo mark sutton in his first interview since taking the reins ago. So a lot to talk to them about. And again, more to get to ask, to see what they got out of this meeting with president obama. Interest dog see that poll during power lunch a couple of hours ago. Is president obama probusiness . And ceo of alint air. Thats coming up in a couple of minutes. I mean. Can we go to hawaii for the interview . Heading toward the what ryan islands. A lot of them coming from china. We have a lot to talk to him about. The dow up and nasdaq, too. The real story of the session, frankly, is whens happening with oil. Aaa out with more figures showing another 15 to 20cent drop by new years and the debate of negative and positive on the u. S. Economy continues. A quick look at the russell, as well. Outperforming everyone today. The Small Cap Index up about 10 points or almost 1 . Much to cover in our Closing Bell Exchange today. Jack bourougiasian, we have Steve Liesman and Rick Santelli with us, as well. Once we show you rick, there he is, steve, lets start with you. A rather upbeat beige book today but the markets did absolutely nothing with it. I think a lot of this stuffs dialed in. You had the ism services number, fourth largest on record. The internals were good. This week, the ism manufacturing and the thing is those vehicle Sales Numbers may take the shine off traditional Holiday Spending and still spending by consumers in the holidays. The datas been pretty robust. Putting together looks like at the moment of current data, cnbc wrap it up data, 4 growth in the second and Third Quarters back to back. And were doing about a 27 and now might edge up and all eyes on the friday jobs number. I forgot to mention the adp number. Shy of the estimate but that came in again above 200,000. So the datas good and i think the market knows that and expected. Larry, what are you buying here . Theres a boost to Fourth QuarterGrowth Numbers and concern that comes home to roost next year in the form of Slower Growth for some of the production areas of the u. S. What do you think are the ways to play this trade . Absolutely. Look. Its clear that investors are in denial of the consequences of Lower Oil Prices and putting it in context, theres winners and losers in this. Clearly some of the losers are impact of high yield and cap x. You get a benefit in net importers of energy. Places in asia like india and japan that are net importers, countries but also areas of the United States that are net importers beneficiaries so we see the cyclicals are a better opportunity than the defensives into next year. Better value. Foreign over domestic. Better value. Opportunity. You have to rotate the portfolio into 2015. Thats whats so exciting of whats happening. Squawk box, our colleagues were at the ceo summit in washington today. And among their guests was larry fink, ceo of black rock and euphoric of the Lower Oil Prices. Heres what he had to say and then your reaction, everybody. Spectacular for india, china, japan, American Consumer and for europe. This is going to help mario draghi and the europeans. In terms of restabilizing the european economy. I just find it shocking that narrative is so negative and this is an incredible tax cut for americans and everywhere else around the world. Do you agree, keith fitz jer snald. Absolutely i do. I think my numbers show the average American Family gotten 1,100 boengs effectively from the fact of lower gas prices at the pump and could have still lower still and takes pressure off the wallet. Makes yellens and draghis job easier. I like this a lot. And, rick, there are plenty of people concerned because you get a big boost to gdp right now but then Going Forward it starts to slow some of the strongest parts of the u. S. Economy. And maybe its not quite as exciting once people adjust to gasoline prices in 2 instead of 3 or 4. Are we overlooking the drag it will have next year . We need to take the green aluminum hats off and look at the world honestly. Yes, i agree with larry fink. I disagree with larry mcdonald. I dont see a dark side to this. Woe to the high yield players that ignored the obvious. Tightness in spreads. Coming back to haunt us, so be it. I dont see anything like the credit issues of 07 or 08 developing because of this but i would also say a dose of reality in another way as many including wall street journal pointed out health care costs, this isnt about obamacare, this is about actuary and accounting. Since 07, Health Care Insurance has increased at a rate of 42 . So, you know, i understand why the Holiday Season might not be looking so good. That money has to come from somewhere and i think as nice as it is the dropping Energy Prices help the middle class but they try to balance the budget every week. Something to talk with the ceo of anthem coming up. Absolutely. What youre saying is underscored showing that wages didnt go up that much because nonwage benefits, for example, were. I just want to bring it back to the question then. Okay. If you have the health care thing as a factor and drag on income in the drop of the economy with the oil thing, does that move the fed out of the picture next year in terms of rate hikes . Rick makes a great point. Im sorry. Go ahead. Rick makes a great point. Its the lower soes yore economic, the middle class struggling and very little benefit from lower Interest Rates. The oil tax cut will do for the middle and lower class what lower Interest Rates did for the upper class so it actually narrows that wealth gap. Well said. Its significant. If youre walmart, this is a gravy train for you because thats the Customer Base at target. Theyll benefit of this. I want to know if Airlines Stop charging for bagging fees. Whats the excuse now . Well talk about that. Jack, welcome aboard. We havent ignored you to this point. Im going to guess you like the drop in oil, as well s. There a downside to that, though . Bill, you know what . I see it as a winwin. In fact, i love saying this. I agree 100 with what rick just said. Thats exciting to say. Wow. All right . The reality is right now i dont see any downside to this. Look. You know, we talk about the big explosion and revolution in the heartland, remember, whats happened there, you have seen the quintupling of property prices there and other things that started to unfold and all of that is coming back down to earth so what i think we should be doing with this drop in oil is counter intuitive. Energy investment has gone to 4. 5 of gdp in this country. That doesnt sound like a lot but in the past Decade Energy its worth raising the question of what happened to the regions, some of the jobs and all these assumptions that were making that everythings great next year. May i make a comment on that . Wait. Were talking about a boom and bust cycle. Its going to happen. We cant keep it from happening. The reality is that one of the things that we want to see is lower Energy Prices. Which, by the way, is good for everybody. Kelly . If i could pipe in quickly on this. Think about how dynamic the u. S. Economy is. Its allowed it to come through the challenges it has. Were not strictly an oil producer. We are not strictly on the way to being the worlds largest. We are but its simple. You know this. Which is to look at the oil trade balance. We are still importing more than we are exporting or more than producing and so the issue is this. As long as that trade balance is negative, that Lower Oil Prices on net are a benefit to the nation. It doesnt youre absolutely right. Theres some areas of the country that will absolutely be devastated if it keeps down and keeps going down but right now, first of all, i dont think the people that sunk the wells are idiots. They counted on a lower price. Thats one thing. Growth comes off the top but the American Economy is dynamic. We have a lot of consumption and production. I totally disagree. Ben fish out of this. Larry . Did not anticipate the price coming down. They sold high yield debt that they cant pay back. They did now youre getting into the area the consequences to this are with us. Ripple effect of cap x and thats going to go out the window. Steve . And all of the making manufacturing go through the roof and going to make every business thats right going hang on. Hang on. A meeting of the committee of doom here . I dont understand this. This is a very interesting this is a very interesting dilem dilemma. With a massive price adjustment is relocation of the marketplace. Right. You will have the stronger players coming in. Theyre going to use it for an opportunity to consolidate. Guys with debt pay for that. Theyll go out of business. The stronger players steve, you asked for that. Economic darwinism. Hang on a second. Steve, you asked bill dudley yesterday about the leverage and acknowledged theres overleveraged portions and said its not systemic. Why do you think its high yield . Higher interest rate. Why . They have taken higher risk. Junk. The issue is not catastrophic. I dont like hearing people say theres no negative to something when its been such an important part of the question, kelly, is about the emphasis. The savers and ended up bankrolling the experts. But, rick, what i dont like about it is that this potentially delays the quote unquote normalization even more. I want to get i think youre underestimating technology, american technology. First of all, fracking wells are like oldschool oil rigs. They dont last as long. Its a shortterm investment. High prices tend to be the cure for high prices and low prices are the cure for low prices and Pension Funds havent begun to exit all the investments. Wait until we export with a republican congress. Kelly, let me press you on this idea here. Are you saying that one should be overall negative about Lower Oil Prices for the u. S. Economy and for u. S. Stocks . Is that your overall conclusion . No, no. Not at all. It will condititribute to the n for yield and would be nice for in a world the oil price able to drift down and support long term instead of threatening for 200 years oil is doing this. 200 years thats oil. Last word. One of the things to Pay Attention is geopolitical issues to come out of this. Putin who we have been bashing now for a couple of months and last couple of years for that matter is in a desperate situation. Desperate leaders do desperate things. If you notice all of a sudden he started to arm as bar shan. Thats one of the downsides of what were talking about here. So if there is something to watch for, that would be it. We have to go at this point, guys. I will since you mentioned Vladimir Putin leave you with art cashins line of the day. He said what do Vladimir Putin, crude oil and the ruble have in common . They will all see 63 next year. Thats why we love him. Two, three, four. You got that one. Good discussion, guys. Thanks, everybody. See you later. Thanks very much. Meantime, we move higher here. Alltime highs for the dow. Yes. How many times we said that this year . Keep an eye out as the dow is up 25. Nasdaq adding about the same. S p up 7 points to 2073. Coming up, a brandnew anthem. One of the nations Largest Health insurers changing the name and back to anthem from wellpointe effective today. The firms ceo speaking exclusively with us before ringing the closing bell here at new york stock exchange. Thats in a moment here. Up next, Hawaiian Airlines ceo speaking with us exclusiv y exclusively. Will it trickle down to cutting airfares and the fees . You should see, by the way, his stock price chart. Well be right back. Gains for the market today, not great but enough for an alltime high for the dow. Record territory for the s p, as well. Nasdaq up 21 points. Still trying to climb out of that hole it created for itself on monday. The top level picture doesnt tell the whole story, especially right now. Keeping a close eye on oil prices, watching the steady decline. Look at this threemonth chart. Oil prices down almost 30 in that time frame. Airlines as you can imagine are loving that. Well show you a chart of hawaiian air in a moment. See a relationship of oil down and hawaiian air higher and the ceo with us today. Theyve been Holding Investor Day here in new york city. Joining us in the cnbc exclusive, we welcome you. Thank you for being here. A nice lei. We have one for each of you. Well a luggage fee. A tradition. Important one rather. You give this one to kelly and a quick peck on the cheek and embrace. There are rules of anchors doing that. Ill hand it to her. Ill accept it from you, as well. Oh boy. The stocks at an alltime high. It is. Its boomed in a last few weeks. Is that all Energy Prices . Not all Energy Prices. Energy prices help in a really big way. For us, every onecent change in gas is 2. 4 million to the bottom line. So theres it would be a gross overstatement to say that isnt an important part. But at the same time, our whole Business Model has really come together in the last year and were looking forward to a terrific 2015. How good is this quarter . I cant ask with a straight face with the lei on here. What point do you guys have to get out there and say, look, we are talking about a significant advantage over our current analyst estimates, for example. Well, we keep our analysts pretty well informed and guidance is generally pretty accurate and not so much of catching the analyst out but we have been publicly saying that so long as fuel stays low and demand where its been, all of the other things that we have done should lead us to much higher margins than in the past. Speaking as a customer, though, not of hawaiian air per se but a flier, you know, the industrys had to raise fees elsewhere to make up for the decline of traffic over the years since 9 11. So we have to pay for baggage now. You know . All these other fees that we have to pay. With energy costs coming down, would it behoove you as a gesture to public to bring some of those fees down at some point do you think . Well, you know, pricing whether it is airfares or whether its things like baggage fees and the ancillary charges are set by the marketplace and interplay of competition. Frankly, traveling today in north america is a very, very good deal. And that is despite the fact that we have seen an enormous explosion in number of taxes on our industry often adds disgu disguised as fees and obliged to hide in the traffic price. I think we have controlled the cost. So the answer is no. Well short answer. The short answer is going to be it depends on the competition dictates. Hers Rex Tillerson this morning from the ceo summit talking about where prices may be going in terms of the oil price from here. Keep an eye on the fundamentals. In terms of what happens with demand. Getting economic pickup around the globe and get an increase in demand to take up the excess supply, likely some correction on the supply side by some players, hard to say how much that will be. And when it will become material. And so i think its something well be watching the fundamentals. Thats what sets this price. What we didnt hear him say was the low could be 40. Right. At some point. Yeah. I mean, we very much sort of a taker of the supply demand dynamic in the energy market. Into our business. Reduced volatility. Were not speculators in the price of oil and lower fuel prices are really good for our business. And go largely to the bottom line. Goes without saying. How expensive are the hedges . Are you regretting them right now . No, not really. Because theres volatility in the oil market and we have seen it go up as often as we have seen it come down and for us its about taking some of that volatility and risk off the table. Mark, by the way, we had to take them off. They were wrecking havoc with the microphones. We appreciate them very much. We have breaking news. President obamas immigration executive order, we have Hampton Pearson with details. Whats going on . Texas is leading a multistate challenge to the president s executive order. Texas and 16 other states filing a lawsuit in Southern District federal Court Challenging the president s action. Among the states joining in that lawsuit, mostly in the south and midwest, alabama, georgia, idaho and indiana. Abbott, the attorney general, greg abbott, that is, of texas, attorney general and the governorelect, arguing that texas could be uniquely hurt by the executive ord we are the large border with mexico. As we know, that executive order by the president could legally shield as many as 5 Million People from deportation. This is the first multistate