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Good morning. Welcome to squawk on the street. Hope you all had a good christmas. Im melissa lee. Were live from the new york stock exchange. Jim cramer has the day off. The latest s p schiller home price report has been released. The results being shown at the bottom of your screen. David blitzer will join us with a closer look at the numbers in just a few minutes. Lets get a check on how were setting up on this day after Christmas Trading session. The dow looking higher by about 15 points. S p looking at about two points at the open. European markets closed on this day after christmas. The u...

I also think more incentives to encourage annuitization makes sense. There is an area where economists are more divided than a new it is then annuities. Efficient way of allocating your retirement income. Almost no individual will willingly annuitize. Option of am the lump sum, they will take it and walk away. It is a human nature kind of thing. Annuity turns you from a millionaire to somebody getting income per year. I think tax incentives are something along those lines to an courage to encourage annuitization. It is a high hurdle to get over. Back to listen to the chairmans closing comments...

Lets check in with Lauren Simonetti. Another record day for the dow and s p. Lauren absolutely. 12 more hours until 2013 ends on wall street. The dow at a record high as we close. The dow took out another intraday high. It closed at a new high. The nasdaq hitting a fresh annual high. A solid day of volumes. Also to the upside, the vix popping a little bit, but still maintaining the gains for the year. Shares of ibm, you look at the dow 30. 29 of the 30 dow components up. Many of them up better than 50 . The sole loser is ibm, down about 3 in 2013. The first annual loss since 2008. Back to you....

We dont. But this one is a bad one, ken. Alleged bad cops caught on video, five of them current officers who now have been suspended without pay. Their guns taken away. A sixth officer was already fired on an unrelated case and tonight, an emotional chief responds. Our department is shaken. This was our worst fear. I dont know that it gets any worse than this. Reporter six officers were indicted for being dirty cops. The visual proof, surveillance videos released by the public defender three years ago. Undercover cops allegedly barging into Tenderloin Hotel rooms without a warrant, in some cas...

And hollande calls the bid for alston unacceptable and focusing on Getting Better offers if the firm. A warm welcome to todays program. Plenty to get through in the Corporate News front. Well be focusing on the bank sectors. But before that, we have the final print of the eurozone pmis. And they have come in at 53. 1. They were forecast at 53. 1. But its the highest since june 2011. Com miss composite 54, german 53, forecast at 55. Italian april surface pmi, 51. 1, and that was forecast at 50. 2. French services pmi, 50. 4. So again the two economies most concerned about coming into the beginn...