Board here to europe, except the ftse. Look at the trade in crude. Wti and brent trading slightly lower. Here are the big stories were watching today. The tunisian man suspected of committing the berlin Christmas Market truck attack was killed in a shootout in a suburb of milan. Italys interior minister said there was no doubt the man killed was the suspect, anise amri. At home, shares of Lockheed Martin are falling after president elect trump tweeted about the f35 program. Trump said based on the cost and cost overruns of the f35, he asked boeing to price out a comparable f18 super hornet. Lockheed did not comment on the tweet. In a statement boeing said we have committed to working with the president elect and his administration to deliver the best capability, deliverability and affordability. A comparable f18 is tough. The super hornet doesnt have vertical capabilities, its traditional why are you looking at us like that. I get kind of turned on its kind of cool you know this stuff about these fighter jets. I liked top gun. My take is that boeing seemed to kind of i understand what the ceo is doing. Seeing they gravelled more than lockheed. Lockheed didnt seem like they quite understood, therefore it was like if youre not going to play ball i took it as this is boeings opportunity to dig it to the competitors. For lockheed, the f18 was 20 of revenue. Sticking it to them saying well stick it to you. Maybe boeing saying 4 billion was a bit much. Should we read the boeing came out and said they would make sure that the air force one would cost less than 4 billion. They always said it cost less than 4 billion. Its an odd we have to talk about he was in milan, the guy. Yes. No problem going between they have open borders. Thats the issue. The thing that gets me, im glad he did, but when you get in a car, my wallet sometimes bothers me. Sometimes ill take it out and put it somewhere instead of this guy actually left his wallet in the truck of the if youre going to be a martyr, you dont care if they know who you are. Maybe they thought he would die in the truck. And wanted to be identified. His fingerprints, no dna for that other guy, this guys fingerprints were found. Glad they got him, but a bit late for that. Another trump tweet making headlines. The president elect surprised Nuclear Experts by calling for more u. S. Nuclear weapons. He tweeted saying the u. S. Must greatly strengthen and expand its Nuclear Capability until such time as the world comes to its senses regarding nukes. The tweet came hours after russian president Vladimir Putin called on his country to boost nuclear power. Trump spent yesterday meeting with top pentagon officials. And Reince Priebus tried to explain what he meant, as a deterrent. This would be a longwinded explanations. No one doubts that the Nuclear Capabilities of the nation need to be modernized. Really . Even under president obama theyre from the 60s and 70s. Our bombers rolled off the production line in the 60s. Is there any thought of one of you wearing red . I wore red yesterday. Its so green. So green. So green. Its nice. Look at the poinsettias behind you. Thats what we did. You know youre giving mary conniptions this morning. Youre pointing out that we are i dont think this would go down with the clothing police at the office. I think one of us will be wearing different tresses on power lunch. How is that . Is that better . You can do that . Amazing. So cool. Technology. Look at that. Thats so weird. That is amazing. You should see when they put my face in Janet Yellens hair. Scary . They did that on halloween. They do that. Russian this is interesting. Russian president Vladimir Putin is Holding Annual end of year news conferences. Its usually a marathon event which lasts between three and four hours. Hes already addressed a number of topics. He says he wants businesslike constructive relations with the United States under president elect trump. He addressed the tweet by president elect trump about u. S. Nuclear capabilities saying its not a surprise. Its normal. These guys get along so well. He said russian would not be drawn into an arms race at any price. Putin took a shot at u. S. Democrats saying theyre wrongly trying to blame the electoral defeat on external factors and need to learn how to lose gracefully. Thats classic, lecturing the democrats. They must love that. How do they feel about that, alison . Well talk to you in a second. Now to todays top corporate stories. Deutsche bank agreeing to a 7. 2 billion settlement with the j T Justice Department over its sale of toxic mortgages. The tentative deal offers some relief to banks. The stock was hit hard back in september after it acknowledged the doj had been seeking a 14 billion penalty. Deutsche bank will pay a civil fine of 3. 1 billion and provide 4 billion in consumer relief. They will have a pretax charge of 1. 2 billion in the fourth quarter. There is no assurance yet of a final agreement. Credit suisse is settling a u. S. Probe into the sale of Mortgage Backed securities before the financial crisis of 5. 3 billion. The bank says the deal includes a 2. 5 billion penalty from the Justice Department and 2. 8 billion in consumer relief to be paid over the next five years. Credit suisse says they will take a 2 billion charge in the fourth quarter. Italy will bail out monte dei paschi after the Third Largest bank failed to raise enough capital on its own to stay afloat. The government passing a decree early this morning approving a 20 billion euro found to prop up the Banking Sector with bmps the most vulnerable. Monte dei paschi said it will apply to tap the fund. This is the banks third bailout since 2011. Shares suspended today on the milan stock exchange. Barclays is responding to the Justice Department lawsuit against the company and two former executives for fraud over the tail of toxic mortgages before the financial crisis. The bank says the u. S. Governments claims are not consistent with the facts and it will defend itself. Barclays wont say why settlement talks with the doj broke down but the bank believes continuing negotiations under a new u. S. Administration may be more beneficial. Deutsche bank, this news, when i look at the stock, takes a Capital Raise off the table. So this bank is older than the oldest bank in the world, isnt it . Monte dei paschi. Founded before italy. 1492. Before columbus came to the United States. The name means a mount of piet piety. How ironic. Doing gods work. A mount of piety. With a little bit on the side some profitability. Giveaways for politicians. Did you know thats what it meant . No. You got me. Theyre close but not not the same. Its a mount of piety in case you were wondering. 1472. For more on the markets, lets bring in alison dientz, and stephen friedman. Nice rally. Then suddenly we stalled here the last couple of days, whats the problem, mr. Fre . Why cant we get over the hurdle of 20,000 . Theres a lot of upside based on hope. Basically based on not necessarily the fundamental picture, but expectations of tax reform, tax relief, infrastructure, at this point, you need more specifics in terms of policy. You will have to wait for next year for that to happen. Has the rally been justified based on what we know . Justified to some extent but contingent on a lot of this being delivered. At this point, its still relatively vague and speculation as to specifics. So continuing on some of the progrowth policies being delivered next year, i think you can justify the rally. We do get concerned that some of the negatives, such as the trade policy, which has become more topical this week again have not been actor factored in here. Depending on the range of expectations, either none of the positives or negatives of the trump policies weigh in, the market is at 18 1 2 times earnings. Even if you assume some Ripple Effect on the benefit side of that, trade retaliation or trade wars, the market is over 17 times earnings. Its looking expensive in an environment of uncertainty. I also feel as if the rally seems to be biased towards all the good aspects of the trump policy without concerns of the potential trade issues that could crop up. In some papers this morning, china is looking at some of the appointments saying we are looking at this with great concern. So its sort of a goldilocks attitude. Are there some parts of the rally that are based on hopes, b but financials are rallying because of the yield curve. And the trade war, whatever you want to call it, may not impact financials as much as discretionary or other sectors. They wouldnt necessarily, but financials are closely tied to the economy. If there is some type of trade issue a big enough trade issue to bring down gdp. Its a risk out there that has not been factored into the market. All the positives have been factored in at these types of multiples you get volatility with limited upside. One thing i want to say, joe i will introduce you right now well talk to you. I want to say with the market people, lets get 20,000 today. Thats what i was going to say. Because of the narrative. Because if you see i just want to get 20,000 today. A christmas present. A santa claus rally. Have you seen its a wonderful life. Jimmy stewart at the bridge, where he finally realizes everything he had, he says bring me back again. They have it dubbed in, bring back america, donald. Bring back america, donald. I was crying. Even watching this, its sort of today, if you want that narrative i want it. I wanted it to. I want 20,000. Its thin trading. Its only i already checked how far away we are. Not that far away. About 81 the average gain last trading day before christmas is ten points. We need 10 s p points. Thats an average. It can be higher. It can be lower. I want to believe. Merry christmas to the country. Alison, thank you. The state of this is another thing that just to gauge the optimism, the state of the private Aviation Industry is poised to fly sky high under president elect president trump, apparently ivanka still flies commercial. Texton ron up more than 28 . Our guest host for the hour partnered with textron. Kenny ddichter of wheels up. On saturday morning, a wheels up guy comes so tight with the guys, they go to break, a wheels up commercial, ricky fowler, jv j. Watt, ricky fowler, theyre everywhere. Whose idea was it, youre flying commercial, you look in the bins to put your stuff in the bins, it says wheels up while youre waiting in all the bins at newark. Whose idea was that . Thats contextual relevance. Thats the pain point when the shoes come off. Already, we have seen gauges of Small Business optimism. Gauges of these different things. Already joe, wheels up the trump bump. Were at the tip of the spear. We see revenues every day. As i said to you before break. Well do 50 million of revenue this month. Again, i attribute a piece to that to the optimism and exuberance. 50 compared to what . 25, 30. December is typically a big month. Usually is. Usually a big month. Weve doubled our projection for this month. I attribute a lot of it to the optimism of whats coming. In boeings latest quarter they cited a slow down there Business Jets as a weak point. Is it really the flip of a switch here . Boeing and airbus are in a different plus than textron and General Dynamics who make Business Jets. What im saying, two big names in the space, u. S. Based, which is very based under the Trump Administration, would be texton and General Dynamics. If you buy a boeing business jet, you have serious scratch what do those go for . Could be in the hundreds. If you want to deck that out, it could be in the hundreds. Tom cebol. He has a boeing . Thats a top thin point of the business. Ive been on one. Welch had one. That was a corporation. I understand. I understand. But it was like jacks jet. Donald himself has used private aviation. Big story today, kenny, you cant on the cover of the post and the daily news, plane idiots, they got thats an infomercial. With the daily news, are they talking about ivanka and her kids . Thats an infomercial forewheels up. Theyre talking about the professor and his husband. Normally the daily news would be ivanka could have avoided the professor, the husband and everyone else had she chosen wheels up. Dont you think the optics are better if she flies commercially. The optics might be better, but the pain is too much. This guy tweeted out he was looking at a student at his college, he was walking away, he a reagan bush tshirt orngs he said im furious. I consider them wearing that tshirt hate speech. If you need to know anything about this guy. Wow. She looks good without makeup. You know me without makeup. No, actually i dont. I would be horrified to be on the front page. I didnt know you without makeup. A running gag that we have. There was some woman friending to be me she talked to me. Said im back today. Im back from where . Thats horrible. You look wonderful. You have beautiful lines. Its like a palate. Beautiful lines . For the Makeup Artist trying to make all right. Were keeping an eye on an ongoing situation out of libya. Theres a jet flying between two libyan cities that has been hijacked. It has landed with 118 people on board. Theres no word on any demands from the two hijacker the. Well keep an eye on this situation and let you know of developments. Coming up, news from the trump transition team. Eamon javers will have details next. This is my retirement. Retiring retired tires. And i never get tired of it. Are you entirely prepared to retire . Plan your never tiring retiring retired tires retirement with e trade. Im in vests and as a vested investor in vests i invest with e trade, where investors can investigate and invest in vests. Or not in vests. Sign up at etrade. Com and get up to six hundred dollars. Tadirectv now. Stream all your entertainment anywhere anytime can we lose the all. Theres no cbs and we dont have a ton of sports. Anywhere, any. Lets lose the anywhere, anytime too. You cant download onthego, theres no dvr, yada yada yada. Stream some stuff somewhere sometimes you totally nailed that buddy. Simple. Dont let directv now limit your entertainment. Only xfinity gives you more to stream to any screen. A key pick from the trump transition team, picking sean spicer as press secretary. There are still thousands of jobs left to fill. Eamon javers has more on that. Reporter there are 4,000 jobs left to fill in the Trump Administration. Thats the number of federal jobs that any president would have to fill coming in and taking over the vast apparatus of the federal government. But even though donald trump campaigned on reducing the size of the federal government, i talked to a key liaison yesterday, Chris Collins a republican who is a transition liaison for filling those federal work force jobs, he said they will not let some of those jobs go untilled. He said they will fill all those jobs initially, and then gradually reduce the size of the government after that. Heres what he said yesterday. So i think in some cases we will fill most of the jobs, then reengineer the processes to ultimately through attrition, you would like to do it through attrition, then move people around, if its done right, you can reduce headcount. As he is going through jobs, he is discovering some he didnt even know existed. One of my fellow members came up and said his son was interested in one of the jobs on the railroad advisory council. That theres five members, theres currently three openings, i cant even tell you for sure whether its a paid job or not. But there are a lot of these advisory boards. That was one that i had to say i had never heard of. We would get that into the transition team. A lot of jobs. If you look through the federal plum book, you find all kinds of oddities. Two historians employed inside the federal government. Also 21 different speechwriters, 218 people whose job title is Senior Advisers. I didnt find any junior advisers. 218 Senior Advisers inside the federal government. Of course a number of jobs that were filled yesterday, starting with sean spicer. He will be the man behind the podium for donald trump. So much speculation about who would get the job. Yesterday think announced sean spi spicer. Also on the Donald Trump Communications team. Sean spicer, a familiar face to reporters in washington, d. C. Also on the team, jason miller, somebody who folks in washington were not as familiar with before the trump campaign. A veteran of the cruz team. And hope hicks, a relatively new face coming in with this trump team. She will be in the Communications Department inside the trump white house. All those jobs filled yesterday. That wraps up some of the key n internal white house staff. Eamon, ive been thinking about all the stuff weve been talking bs ing about, the confl. Tillerson, full of conflicts. Icahn, full of conflicts. Then i realized the genius of obama im waiting to see where this will go. 4,000 people, not a single one had private sector experience. There wasnt the slightest possibility of conflict but none had been in the private sector. Not one thing any of them could do to benefit themselves, until they get out. After the eight years, a lot will do really well now. Thats the difference. With that team, theres no experience. Theres not a single guy in Trumps Administration that doesnt have private sector experience. Theyll all be conflicted. When you go back to icahn, talking about this yesterday, typically what you see with people who are fulltime on the staff, is that they will divest themselves of their holdings while in federal government. Saying that chapter of my life is done. One other nuance we havent seen that with trump or carl icahn. One other thing, trump, all these guys have some their holdings are affected by the overall economy. What if trump goes from 2 to 4 , so like ever