The s p is higher by 1 while the dow is fractionally lower. The russell 2000 dropping 6 in a month. Take a look at u. S. Equity futures this morning. Did you check those before you came in. Nice, right . Or were you waiting to see. I didnt know what numbers were. S p 500 looks like it will be up by nine points now. If it were to open up now it would be open 23 points. Have someone that drives me in. I know all of this stuff. Foreign exchange. But it changes often times. No, no, pretty good idea. If its down 200 you know its down 2000. I knew it was probably just positive. Europe trading things like that. Nice. Just like a professional sort of. Do you know, can you do i cant. Whatever it is, i cant. You cant do the call of the consumer . Do the call of the consumer . What do you think . John, do you have any stuff like that that we can thats not bad. Anything else . Not bad. Hes fast. Hes fast. I dont know. What is the call of the consumer. Do you know . I dont know. I said it. I heard you say it. Mine was more of a caw. You know, everybody here there. A guy getting tazed. Remember that . The msnbc guy . Im going to have to watch someone that actually asks to be tazed but he did. A fantastic voice. The early numbers suggest yesterdays cyber monday retail bonanza is the biggest ever driven by online discounts. Adobe sales up 12 . Target says record traffic to its websites caused it to crash. Customers were given an apology message and theyre offered a sitewide discount of 15 today. I dont know whether thats good or bad considering a lot of inventory building up and the nations auto makers for the first straight month with sales above that mark. And a few economic report. Still has the right to oversee Health Care Decisions that continue after a california judge failed to take either side. He also didnt grant a request of his former girlfriend. Theyre ruling theres no urgency for such action. Instead a january 27th hearing and all of this raising lots of speculation about has health and perhaps in the Business World about the future of viacom. This morning on some of the worlds most powerful fund managers. Einhorn lost 20 in his 2015 portfolio. And joe, the solar company, sunedison. Right. The stock fell 56 . That was brilliant. Im pretty sure i could do down 20. I think. Dont you think . I do. Im not kidding. If i aimed for down 20. I think youre right. Lets check on the markets this morning which we talked about. Europe yesterday, europe wasnt bad this morning. Its down fractionally in germany and france. Ftse up with italy and spain. Last week looked like shanghai might be a problem again but monday and tuesday of this week its up 12 points. Up a little bit yesterday. Check out the oil was actually stronger than people thought yesterday and today its flat. And the ten year i think is 223 or so. Where is it now . 223. Look at the dollar versus the other currencies. The yuan they decided to put it in reserve status. Just under 106 on the euro. I see whether we actually do get a print of one or below and gold down a little bit and up to date at 1068. A little Global Market news. Chinas factory activity contracting for a 9th straight month in november and slower pace in october. Eunice yoon joins us with that story. Good morning or good evening. Good morning, andrew, joe. Hey guys. Well, yeah, just had more bad news out of the second largest economy the official pmi fell in november and to the three year low. This is the worst we have seen for quite sometime and theres also a private survey known as the market index which also indicated that there was a slight improvement but still signaling that the Manufacturing Sector is quite weak. There was a bit of a pick up according to the measures in external demand but domestic demand remains lackluster. The Services Industry did better. It was resilient but still not enough to offset the declines in the manufacturing and industrial sectors. Now this all threw some cold water on the party thats been going on here after the chinese yuan was included in the basket of currencies at the imf and not helping matters either, the fact that china has had to now shut hundreds of factories in northern china to cope with some of the worst pollution in quite sometime. According to the u. S. Embassy measuremen measurements, our air is 25 times worse than what is deemed hazardous. Schools have been closed and children are allowed to skip school today and also flights have been cancelled and this of course is going on as the president of china is vowing to take on Green House Gases at the Climate Change talks in paris, guys. Those arent Green House Gases were talking about though, eunice, as you know and some actual physical pieces of particles that have gone to pretty high levels in the air over there. Yes. Nothing you were looking at there was a colorless odorless co2 which now in the atmosphere has surged to the level o of. 004 . I shouldnt have started up the whole debate but the pm2. 5 is the measurement people look at. The particles that enter my lungs every single day and according to the u. S. Embassy went up to 634 today which is much higher than what they say. The who says it has to get 25. Particular pollution. Which is disgusting but nobody is talking about that. Andrew, help me. I think that we are never going to solve this discussion in the matter of time that we have right now. You can solve it by trying to cut down on particular pollution. Sulfur dioxide. These disgusting chemicals in the air instead of the solar mind focus on the co2 religion. Appreciate it. We can also look at the longterm view. Longterm view. Oh. Wall street. Our guest host this hour is bob dahl. Well talk to you in a second about macro stuff but for a long time you were like a Big Health Care guy and lately theres been, not great market action. Are you buying more . Does it change your view given whats happening with obamacare . There will be a lot of noise. Whether theres any action doesnt matter. The stocks had a pretty high pe and yet i think sell some of them. We trend into the last run up so were being far more selective now. So our favorite, United Health care, still own some. United health was the biggest. Maybe not stick with the exchanges. Fascinating on the exchanges. Not so much United Health care. Im going to leave it there. Its just been going into a long discussion about health care. We dont need to have it. No, its not. In hospital got hurt too as well and drugs are suddenly on everybodys radar. We still own some fwrks ilead in the bio tech space. Also i know you thought Domestic Companies would be better because of the dollar, but we think of retail as Domestic Companies. They have not done well either. The consumer is still spending some money. Theyre just not spending it on bricks and mortar retailers. Theyre buying houses. Trading up in houses. Buying cars, buying experiences. Theyre using amazon to buy the stuff they used to buy at macys. You have to be more selective. Consumers are good at spending some money. Savings rate going up. You heard it. As an economist are you listening to the is it like a dog whistle . How is she doing . Thats the consumer. Thats where all the decision gets made. I sometimes execute the orders. Its simple. Job growth. Youre seeing wage growth. Youre seeing hours extend and Interest Rates are going to go up so people dont have to live in a zero rate environment forever which is going to cap the savings rate we have been seeing. Put someone thats 50 or 55 years old in a situation where you tell them the rate of return on their portfolio if theyre trying to be in a safe portfolio is close to zero and you can generate a lot that way. Were going to see a rate increase in december. What are you . 90 . 80 . The market is around 80 right now. Thats as good as the fed is going to get without coming out and saying it in advance. Everything is lining up that way. The day before the fed meeting there should be a nice little pop in headline inflation because some of the year over year comparisons get a lot better. Thats something we have talked about so optically it will be easy for the fed to hike rates in december assuming payrolls come in somewhere near what we expect. The 150 will still do it. Good enough. Its credibility too. Yeah. At this point, this isnt the football, right . You cant constantly take the football away and still have the market come and try to kick it. By this Time Next Year, where will the fed be . This Time Next Year we should be coming up on kind of 100 basis points higher. Three or four over next year. We expect one rate hike this year so 125 higher by the end of next year. Yield curve and the ten year, where will that be . 250ish somewhere. Its not going to go up all that much. Right now its a little scary. Everybody says that but were selling a lot of things. Manufacturing in my mind right now is one of those kind of you either have or you dont. Not everyone is doing well but some companies are Still Holding in and some companies are doing less well and it depends on how exposed you are to the dollar. Any of the normal warning signs for what causes an obsession or you dont see any right now . Well continue to be one of the best economies in the world. My number one thing to look at with regards to the Early Warning signs of anything bad going on are claims this is something that should be spot on, very accurate and timely and were at all time lows. So its a low bar for an actual number. This is one you might have faith in. Im a little less trustworthy gdp. Youre trying to measure 17 billion on a quarterly basis. And a lot of estimates go into it. We Pay Attention to gdp. It has use and it still has high value added but i would look at claims, ism, bank lending, things like that. Youre going to be here for awhile. I want you to think about this then, 7 years now and were struggling to stay at 2 or whatever, zero. 7 years of fed accommodation which is not is that the new normal . Or are we doing something wrong in terms of not unleashing the american economy. The depth, the cause of the recession, the bust in credit and therefore the deleveraging cycle and all the deflationary pressures keep nominal growth. Were still in that world. Could the government be doing more things to encourage growth which is part of your question . Yeah, they could. But that would make some difference. Not the difference between 2 and 4 . Maybe 2 and 2. 5 . Really . A wish list of progrowth supply side policies would not get this above 2. 5. I dont think so. Get rid of a bunch of regulations. Go for a drink but its different. Coming up, we got a key finding of thank you for being here. Key finding of a cnbc exclusive oil survey. Well learn what top analysts traders and energy funds are expecting late they are week and what the cartels decision is going to mean for prices. Plus an internet sensation tries to make magic again. You have to see this video. Have you seen this yet . You dont watch korean videos. Its okay but well show you that. First as we head to a break, well show you this date in history. I hope hes what does 2. 5 billion views a aquate to and how is it money. There is advertising. How does he get his cut . No, you can actually get a cut. You can . If you put something out on youtube you can collect your revenue but its pennies. Not even a penny a view. Its, you know, a fraction of penni pennies. He has gotten paid for things like that. Hes doing well for himself. He did go on a tour. Didnt he go on a tour guys. You can go on tour once youre famous. And i believe a song sold. So its not just the Youtube Video itself. Why would someone buy the song just to watch it on youtube . This is the debate that adele is always having. Theres people that buy songs like people that youre talking about adele. Adele. And then theres Services Like apple music you get a fraction of a penny but you get money for every time the song is played. All right. In the economics. How much does he have . You work on this next sports segment. Ill get you some numbers. In dollars or we can do it in yuan because thats the new reserve currency. It will sound like more. Give me a minute. If you went to bed early last night you missed a great ending to monday night football. Ive seen people that have the fantasy stuff, theyre so mad this happened. They had it in the bag and apparently baltimore blocked what would have been a game winning fieldgoal by the browns. Oh, no, the browns on the receiving end of this. Thats sad for me. The ravens then returned 64 yards. Return it for a touchdown as time expired. Baltimore made 3327 with a 6th straight defeat. Before we go to this segment here we have jackie here. I want to i want to guess, 2. 5 billion views how much he made off of youtube. I have the answer now. You do. So just play a little 2. 5 billion views. Just doing youtube revenues. 5 million. Higher. Really . Higher than 5. Thats pretty good 25. No, too high. I give it away because its a tv show and we have to get to what is what is 8 million. So 5 buzz a pretty good guess i think. I had the right exponent. Youre close. Lets talk oil right now. Days away from the highly anticipated opec meeting. Will they cut production or not . Jackie is here with us. Good morning. Its difficult to follow the jeopardy music there but lets talk about oil prices because once again we polled some of the top analyst traders and energy funds to get their pulse on oil prices and predictions for fridays big meeting opinions were negative last time we were here. Whats remarkable is 100 of them this time think opec will not cut production of this meeting. They think members are stuck in an ambitious cycle where low prices eroded profits so the only action, pump more. November numbers were out yesterday. Opec pumped 131,000 Barrels Per Day more last month. The saudis pumping more as well and the groups output is near 32 Million Barrels a day its going to keep it lower for longer. Wti is going to finish the year between 40 and 50. Nearly 70 see that range for brent as well. Has wti seen it low for the future . 47 said no. They think the low will come in the first half of the year. Part of that can be a result of opecs inaction. More than half say they only see u. S. Production dropping next year. Theres no magical boost in demand and supply stays robust. Whats also interesting here is were seeing a little bit of volatility in the wti price. Were not going down right now even though most people think opec isnt going to do anything theres always the chance that me might. You can see a little buying into this meeting. Its sort of buy the rumors, sell the fact. We jump into this conversation. Do you want to agree or dispute the notions just made with the survey. Not at all. I was in on the survey and im in that 45 to 55 range through the end of the year and through most of 2016 right now. Prices are holding firm gaichbd where the margins are that is the differential between gasoline prices and oil prices and crude oil prices refineries are printing money now. So just like you saw over the summer theyre going to maximize the margins hence the stability in the price now. The question is when we get into the winter, refineries go into their Winter Maintenance season and theyre not maximizing crude Oil Production then its for lower prices. How low can they go . Well, certainly, given what were seeing with supply around its going to be limited and you can see oil down into the mid and low 30s. Prices we saw during the commodity implosion in 2009. Well leave it there. We appreciate your perspective this morning. Before we go to break, a quick note for you joe. So i give you the 8 million statistic on youtube. You were closer than i even thought though you would have lost with price is right rules. 8 million in revenue to youtube. They share half of it with him so he only collects 4 million. However the Associated Press also did an analysis of his earnings from itunes and streaming services and said he also made an additional 7. 9 million. All in collective i maybe 10 or 12 million. Probably somewhere like that. Not bad. Nice chunk of change. Coming up, this could be a make or break week for puerto rico with a huge bond payment due. And the fall out. Well talk about it when we return. Take a look, yesterdays s p 500 winners and losers. Welcome back. Attention travellers this morning ice and snow hitting the midwest again and Reynolds Wolf joins us with more on this from the weather channel. Youre kidding me. We havent seen him in a long time. Its been a long time. Great seeing you guys. But under these circumstances. Come on. He moved on to much bigger and better things. Look at whats happening here behind us. We get some scattered snow showers out here. All kinds of action reported around the twin cities. People in the twin cities we know how to drive in the snow however when you have your first winter blast of the season its like starting over again. We have a lot of head aches out there. Another 6 to 8 inches of snowfall by the evening hours and heres the machine making it work. You see the rotation in the atmosphere. This blue stuff, thats going to be the precipitation but over here its all green. Thats going to be your rainfall but a lot of moisture coming in from the gulf of mexico. Its going to be effecting travellers and airports too. Any connections to the smaller Regional Airports but also minneapolis and st. Paul. This is going to crawl its way into canada. Not only effecting new york but we do expect a mild tradition for much of the northeast but for the upper midwest its troublesome. The snow can be very heavy especially for the northern part of the state. Some locations may get up to 6 to 8 inches of snow through today and into tonight. Back to you. Thank you for that. Great to see you. Hope to see you again very soon. Meantime the weather is much nicer, the financial storm could be soming. Joining us now with that story. Thats a great toss. I checked the weather. 79 degrees and sunny skies but theyre facing another debt payment deadline today. 355 million due from the Government Development bank which is the financing arm of the u. S. Territory. Although the majority of th