tv Worldwide Exchange CNBC December 23, 2015 4:00am-5:01am EST
hi, everybody. good morning. welcome you're watching worldwide exchange. >> these are your headlines from around the world. >> now an early christmas present for investors with all major european markets rallying in positive territory. basic resources stocks powering ahead to become the best performing sector. >> shell says it's major merger still makes sense. they will break even with future crude prices in the low 60s as it makes another big cut to spending. >> nike beating the street. shares jumping in after hours
trade as they post a rise in revenues and future orders. >> the retail sees it's shares plunge after hitting investors with a profit warning due to poor sales. >> good morning, you're watching worldwide exchange. it's two days until christmas or one day if you're celebrating in some parts of europe and germany for example celebrate tomorrow and many of the scandinavia countries. >> that's right. this whole thing about the 25th being christmas is nonsense. >> we don't get it. >> you do 24th as well. >> absolutely. but today we're seeing a little bit of a santa rally in the markets and it's curious because the mining stocks are doing incredibly well. is it investors buying the losers of this year? are they repositioning ahead of
next year or is this not too much to talk about because volumes are so low. should we read too much into it? >> they're low at the moment. i hike how the music makes the markets seem really sweet. >> but the stoxx europe 600 though higher by 1.5%. a bit lower than that. when it comes to some of the bigger gainers out there, we're still looking at a number of the markets being helped higher by the likes of the auto sector, some of the basic resources really steam ago head but here's the main european markets. all of them up by 1.5 to almost 2%. and now take a look at the commodity stocks. the main gainers. we have angelo -- anglo american. glencore. real buying in the sector. >> we're seeing a rally across
the board -- not really. nikkei 225 off by just a tad. that's yesterday's close because japanese markets are actually closed for the emperor's birthday today but where we are seeing a rally is in the hang seng and s&p asx 200. actually the australian market has been pushing higher for six days in a row. energy shares up 3.3%. now for the first time in four years yesterday we saw wti closing above brent crude. now that's reversed some what. they're pretty much at par. brent crude also higher by 0.9%. royal dutche shell with a break even price for its purchase of bg. the company also expects the
combination to be cash flow in 2016 with $50 barrel or higher. they also announced a cut to spending. the oil firm share price slid to over 30% so far this year but today many of the oil and gas stocks and the commodity stocks are obviously higher. what i pointed out before, wti closing above brent for the first time in four years. that's quite a story. the first time in four years, october 2011 we saw that gap at $28. it's because we saw way too much production in the u.s. and that simply cone be transported out of the u.s. but now we're seeing that waning to some extent. >> massively. massively. the issue is how much longer do we have to go in the price of oil? pwc, they say that an oil price at around $50 per barrel for five years, a lot of that well below that but $50 barrel for five years would add 1% to the
british economy. a lot of people would be very happy for that. if we were to ceeloer oil prices for longer it might benefit the economy quite substantially although i'm not sure what it might do for the fed rate hike and all of that. >> no, you're right. also as you mention it might give a boost to consumer spending but has it really done that this year? what we're seeing in the u.s. a lot of the consumers are not translating the higher gains and the gains that they're making in terms of spending less on their gasoline in terms of higher spending in the stores and restaurants. that's been a puzzle to many in the market. why are they not changing that attitude? >> one element with consumer spending and then the business spending, the plastics manufacturers, the petro chemicals. you have a whole bunch of industries that could be set to
benefit as well. on top of that the shift taking place in the u.s. with the u.s. being a net importer of oil but that's changed recently because of the rise of shale. so u.s. oil dependency is different of course. in 2005 the u.s. met 35% of its own oil needs. last year 61% of its own oil needs. >> let's talk a little bit more about the impact of commodity price with just a hand full of tra trading days left of the year. let's look back at the winners and losers in 2016. brazilian stocks are one of the best. canadian stocks also weighed down by the commodity slow down. the high yield sell off not as big of a loser as you may have thought when seen in a broader
context and the winners russia and china. a couple of real interesting stories. russian equities out performing up 22% so far this year. who would have thought that a year ago when the russian economy was in the dull drums and it seems we talked to our guest yesterday, it seems that the ruble has been discounted so much and that's already been priced into the stock. so this year we actually saw a little bit of a stabilization. >> yeah and also a number of russian economies ha russian companies focussing on diver diversification as well. 20% of the high yield market comes from the u.s. and once you add in like 20% of oil and gas, it's a huge, huge conundrum to
me how high yield has been performing and whether or not we'll continue to see the same story next year as well. >> but safe haven flows into european high yield. >> 2.2%. >> it's not bad. given that there's tightening by the fed, it's not too bad, is it? >> let's move on and talk about how morgan stanley is forecasting that the euro zone will grow at 1.8% in 2016. we asked the chief economist about the growth projection and risk factors that could jeopardize it. >> there's three particular risks that we're looking out for in 2016. one is the confusion of an election cycle. we still have the spanish election in late december and then the election in ireland early next year t. second factor is the refugee crisis which is
unprecedented in terms of the amount of people that are coming to europe and i think that creates political challenges both at the national and also at the union level and then last but not least, the u.k. would like to renegotiate it's position in the european union and will most likely hold a vote on the outcome of those negotiations sometime in the course of next year. these are three political risks that we are watching. >> with the influx of refugees and the terrorist threat is there a sense that the incumbents will be doing better or is this a clear vote of confidence for the challenger parties? in the periferal left wing parties doing well. i think when there is a
perception of a broad security threat they're seen as more reliable and could gain, at least in the wake of the event and whether they can turn this into a long-term political advantage remains to be seen. >> >> now in lighter news as we head into break, is it a bird, is it a plane? no it's a russian rocket. people in southeastern nevada watched a strange object streaking across the night sky on tuesday. the object could be seen from as far away as bakersfield in california. speculation ranged from a meteor to a ufo. it turned out to be a russian sl 4 rocket body. that's according to the u.s. strategic command that say it reentered the atmosphere over
arizona. >> now this is a pretty incredible story. a scary moment in the mountains of italy. the austrian was making his second run in the slalom event when a drone carrying a broadcast camera crashed behind him. there you go. show that again. >> that was so close. >> that was so, so close. >> it was incredibly close. it crashed behind him. it missed the defending champion by a matter of seconds. in that sport it's a hundred or tenth of a second. not full seconds. >> kwa beliei can't believe how was to him. >> he said in an interview later he did find out about it afterwards but he did notice that something was going on. but despite the close call he still finished 2nd and reclaimed the overall world cup lead from
aksel lund svindal. >> we were showing that about the drone training camp yesterday. i still wonder what are the majority of drones used for by private individuals. >> well, this is a broadcast camera. >> anyway. >> a good skier. >> very good skier. >> he's such a pro. just continuing with his race even though that happened. >> it's like watching yourself. >> it's like me. i do it all the time. >> still to come here on the show, yes two days left before christmas. one day for you and i, right? but personalized gifts have been super hot this year. after the break we're joined by online personalized card retailer. i want to know how they came up with the name moon pig. anyway, stay tuned.
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shares are trading below the level they list affidavit going public just last year. >> syngenta is in talks with several bidders. speaking to a newspaper the chairman named other suitors as being involved in discussions. it is keeping all options open at this stage. shares currently up by some, what, 21% on the year after quite a bit of volatility. >> monsanto walked away in the month of september. meantime, the new takeover makes a deal in the coming weeks pretty like lay cording to reuters. the offer is in line with expectations. the illinois based drug maker previously rejected a $30 billion offer in august. a merger of the two bio tech companies would create one of the world's largest specialists in rare diseases. shares up 20% this year.
>> now over half of the u.k. population could buy a personalized gift for a friend or a loved one this year. the total reach -- total spend could reach as much as 1 billion pounds in 2015. the online greetings company moon pig is positioned to benefit from this trend. carolyn and i even made up our own personalized card for the year. this one might be seen as a moon pig near you. >> this is the one i'm sending out to all of my friends and family. >> i want to know what it says inside. >> nothing naughty i hope. >> you never know. >> james joins us. welcome and thank you for accepting our card in your store. i look forward to seeing it. >> tell us about moon big. who are you? and how do you operate? >> it's a u.k. company. we sell personalized greeting card designs.
we're very successful growing really rapidly. as you said, the market is growing. 27 million people have personalized product in the last year alone set to spend around a billion pounds in the u.k. on personalized products. >> so personalized as in dear so and so, you are my so and so -- like personalized greetings. >> for moon pig specifically, predominant offering is personalized greeting cards so we have an in house design team of 12 people that spent the whole year designing different ways customers can add photos or messages to the card to express more emotion than we normally like to express. >> how important is christmas? a phenomenally important time for us. as a group it's around 30% of our annual turnover. for moon pig specifically more so than ever this year it's a
crucial trading period. >> how has it been so far? we just saw the first casualty of the retail season so far. how is it going for you. >> we had a record trading period i'm pleased to say. we've seen fascinating trends this christmas. two trends. one around where customers are shopping and the second around when customers are shopping. as far as when customers are shopping the trading period kicks off with black friday and the groups will benefit from that weekend. what it seems to have done is suck orders from the week before and the week after into that weekend. so we're slightly worried that all the shoppers had spent their money after that weekend but the last ten days have seen incredibly strong trading so customers leading it up to the last minute so from a moon pig perspective we're building up
propositions this year for those customers that want to order nearer the occasion. we've seen over 50% in orders verses the same time last year so we're clearly well trusted to deliver those gifts and cards last minute and we can order up until 7:00 tonight, christmas cards. if you haven't done it already. >> that's good for procrastinators like you and i. what about discounting? we're in a no inflation environment really. how bad has it been in terms of margins? >> the trading period is really important in terms of retailers we had a record trading period with strong growth so it's been a pleasing year. >> you didn't have to discount as much? >> we chose not to anticipate in the black friday sales: and what
we saw is the whole of christmas has become a discounting session is that customers were moving away from the high street and online and if you remember last year, the ugly scenes in u.k. shops with people fighting to get the best products. it moved away from the high streets and into the in box. it's really benefitted from the extra traffic online. >> i can't believe you spend 11 months preparing for christmas. how many more staff do you put in place? >> we're employing new staff for that. as you said we spend most of the year thinking about christmas so any one day of the year there's always someone doing something for christmas but for moon pig, as i said, we have been getting more into our gift proposition as well as personalized greeting cards and flowers represent a large portion of the revenue.
it's not just christmas but valentine's day and mother's day are equally big. once we get over the rest of christmas we'll be straight into those areas as well. >> how is mobile changing your business as well? >> mobile is a fascinating trend and one that continues to go. i think as i said t battle move addway from the high street to online this christmas. not just online, actually. some market reports suggesting that seeing as much as 50% of orders going online on mobile which is incredible. it's a trend we spotted a couple of years ago. we spent the last 18 months building our proposition so customers can have a really fun experience when they visit us on their mobile devices. we see during the year upwards of 50% of orders so we're well geared up for that trend. >> how are drones going to change the retail experience for you and for the buyers in the years to come? when is it going to come and to
what extent is it actually a game changer? we're also a manufacture and shipping company so all of our products are made in house which means that we need to ship those products after we made them. so we turn around production really, really quickly and this year we have enhanced our service proposition to customers can order cards all the way up to 7:00 in the evening and get them in the post that day. so we don't depend on drones. i saw a rather dangerous looking drone earlier in your program. we'll steer away from those. in the u.k. you have done well with the jingle. where did the name come from? moon pig? >> our founder, it was his nickname in school. so he taught them a bit of a lesson with the success of the
business as it now stands. >> i don't ask why. i don't ask why. moon pig. what were you called in school? >> i don't remember. >> what about you. >> kylie. >> why? >> my middle name is kyle. anyway, it's better than moon pig. james, thank you very much. now last minute shoppers they may have one thing on their mind this year, coffee. to get through it all, starbucks expects record gift card sales on christmas eve as customers scramble for stocking stuffers. last year the coffee chain sold 2.5 gift cards in september in the u.s. and canada. one in 7 u.s. adults received one last year. they have been the most requested holiday gift nine years in a row. >> because there's little disappointment with gift cards. you can't go wrong, can you?
>> and you can decide what you want them. >> it's really nice. >> now shops across the u.k. are bracing for the busiest shopping day of the year. in fact a survey by the bbc shows a third of consumers plan to do their main christmas food shop today. with super market waitrose pinning down a specific time as the busiest. 20 past 11:00 this morning is the busiest time of the entire year for the christmas food shop. have you done your christmas shopping? do you leave it to the last minute? get in touch at firstname.lastname@example.org. our personal handles ar are @carolincnbc.
>> i'm not cooking. that takes a load off of me. and you. >> i'm not going to be at waitrose at 20 past 11:00. have done most of my christmas shopping but i'm toning it down. >> are you cooking? >> no, that takes out 75% of the shop. we're both lucky this year. >> what was the strangest thing. >> oh, i don't remember. >> have you anything -- >> so many questions this morning. it makes me think really hard. i'll try and think of all of that. still to come on the show, nike exceeds expectations as the sports maker posts healthy second quarter earnings. we'll break down the figures after this short break.
sense even with lower oil prices. the energy giant says the tie up will break even with future crude prices in the low 60s as it makes another big cut to spending. >> nike beats the street. the sports ware maker posts a rise in revenues and future orders. >> the video game retailer seeing it's shares plunge after hitting investors with a profit warning due to poor sales. >> welcome back. just looking at the final reading of the gdp data for the third quarter. a bit of a surprise revised down quarter on quarter. we were anticipating to see it remain even with a estimate of .5% quarter on quarter but we've seen a slight downward revision. so that just coming through, they're saying third quarter
gdp, 6.1% in the first quarter of '08 and we're getting a reading throughout the current account balance which looks to have come in a tad bit stronger than what was previously reported as well. so u.k. gdp data revised down to 0.4% quarter on quarter. just a slightly lesser print than what was anticipated. >> i do wonder what this was down to. i can't pinpoint yet what the downward revision is down to. once we know that we'll bring it to you. france's economy grew by 0.3% in the third quarter. that's according to the final gdp rating for that country. this marks a slight pick up in growth relative to the previous three months during which
france's economy flat lined. a small increase in household spending helped push the gdp growth rate back into positive territory julia asked the french economy minister whether it was hurting any more investment. >> i think it does change you're right. if you look at the last decade we lost a lot of market shares in comparison with germany. why? because we had wages without increase of activity and increased divergences so now we own the recovery phase. we decreased during the last semesters and now or unit level cost sunday. so we are precisely reconverging with the german economy. we're attracting a lot of
investors. facebook, intel, they announced a series of investment and investment in france is largely welcome. in order to align the stock option systems with the rest of europe and the u.k. so now we are reforming and we're back. >> you're obviously creating tensions within the socialist party because there are elements that look at what you're doing and are very concerned about the direction that you're taking not only the party but of course the country. more liberal sense with the reformist agenda that you seem
to be promoting at this stage. is there an acceptance that this is actually how you'll be able to carry on the reforms and win the next election as a party? i saw a poll saying that he was more popular than president hollande. >> he is the one that decided supplies had policy beginning of 2014 we decided to cut by two person gdp corporate charges and corporate taxes which is a big announcement. second they decide not to follow this policy. so it's not just a particular case. >> why do you wait so long? >> it's very often the case.
it started to deliver a competitiveness policy. it started physical consolidation by day one. but we were largely, largely involved in the europe in the crisis and took a lot of our energy, first to fix the situation and to launch banking union and deliver. so i think now what's important is that we are on a very aggressive policy and and you're right. it creates a lot of trouble in the socialist party. we changing and modernizing this party and it's going through this reforms and through the fact that how do you want to
share something? it's just common sense. >> we're seeing a rally across the board today. ftse 100 up. similar gains higher by 1.5 and the cac 40 up 1.4% to the best performing sectors. the mining sector. this is because commodity prices are seeing a little bit of a rally. copper prices up .5% this morning and zinc up by more than 1%. some people point to china and maybe this is just a very, very beaten down sector. >> when it comes to the bond markets, yields looking mixed out there at the moment. showing you the ten year bond yields here on screen for you and moving on the fx markets as well. >> the fx market is looking like this. very slow trade as you would expect a few trades before christmas. euro dollar 109.31 is what we're seeing. we're off by 0.2%.
the dollar index still below the two week high we saw pretty much all of last week and the aussie dollar still under pressure. out 7221. >> the emperor's birthday in japan. >> it is. nike result beating forecasts. future orders rose by 20% easily topping estimates. nike benefitted from the rise of the agent leisure movement where they buy it for daily rare rather than for actual workouts. guilty as charged. nike already the best performer on the dow rose by 2% in after hours. also be ware that the stock is set for a 2 for 1 split later today. so what we're seeing in germany,
slightly higher by 3.5%. they're continuing to get this right. future orders for footwear and clothes up by 20%. that says something about how they're planning and what is expected with regards to nike. they also have done well when it comes to marketing. they continue to sign on really big names like lebron james signing this lifetime deal. he done even play any longer and they're signing for lifetime. michael jordan, they'll be betting more on a slam dunk from michael jordan. he has a footwear line and they want to expand so we can wear it again. >> i don't know whether or not that's my fashion sense. >> no doubt about it but the strength roughly 8% from the top line. bottom line it did beat
expectations but the dollar strength is not any excuse for nike to not deliver. everyone else is using it as an excuse for weaker operational numbers and top line numbers but nike cannot use that excuse. they're doing so well regardless. the other excuse a lot of companies in the u.k. are using is china. nike is doing incredibly well in china. we saw shares leading the way up 28%. that defies the economic slow down we have been seeing there. they have been engaging in store rebounds and the online offering. that's paying off. >> i was in there buying my ten pound socks. they're like fitness socks but it really looked like lululemon in-turns of this disclosure coming from everywhere. i come into work in these and leave work with my dress on. >> no endorsement whatsoever.
they could be from any company. >> but just in terms of like this trend of wearing your sports gear even when you're not doing sports, half the newsroom wear sports clothes on a daily basis. >> high heels. >> i'm wearing high heels so we can leg it to the wall and be ready, right? >> very much riding on the trend and they're setting the trends. >> they are. micron technologies first quarter revenue fell by 27%. the company is forecasting a surprise loss for the second quarter. that would be the first loss in more than two years as they struggle with weak demand for pcs. micron has been investing to ramp up production of more cost effective chip which is are used in smartphones and other devi s devices. off by 6% in after hours trade. >> bed bath and beyond is
slashing it's third quarter outlook slighting slower than expected sales. they now expect flat same store sales versus the previous estimate of growth of 1 to 3%. the company is saying it's seeing softer in store transactions although online sales have been strong. bed bath and beyond falling by around 6% in after hours trade. that's another story in germany. >> santa has an extra gift for all of you music lovers. john, paul, george and ringo. the beetles are coming to apple music, spotify and google play on christmas eve. pandora also has them on the online radio service but with several restrictions. online artists such as adele, coldplay and taylor swift decided not to release some songs. the beatles catalog will be available to everyone. what a nice christmas present. as the good old beatles song says, money can't buy you love but a new study shows it actually can buy you happiness.
researchers at the university of british columbia found that purchasing material goods gives us more frequent joy compared to experiences. feeling from experiences eventually fade but material things remind a person of a happiness they felt when they first got the item. so the excitement all the hormones released when you buy that yacht or jaguar. do you remember those days? >> yeah. but let's say you have a closet full of 200 coats, when you buy another one does it give you as much of a high. if you have 20 cars in your garage and you buy another one -- >> probably declining marginal utility. that's what i learned in my econ
class. >> it's the first of what you purchase, whatever the first thing was. >> we're talking material things. >> that's right and marriage is definitely material. >> usually not. >> do e-mail. >> i don't think so. >> in the form of presents, no. >> but you come with the present with like the nice bow on it and they spend the entire night playing with the bow. anyway, still to come here on the show, donald trump continues to draw more criticism after spouting hateful come mens against democratic presidential hopeful hillary clinton. what did the offender say this time? find us on e-mail, worldwi email@example.com. we'll see you soon. the future belongs to the fast.
taking place. stewart is the head of sponsors. so apart from the low interest rate environment what is it driving private equity over the last year or so? >> there's a number of factors driving private equity in europe. the general macro environment is very helpful and you have a lot of private equity funds with a lot of funds available to spend but there's also a good quality stock of businesses to buy. private equity don't just go around buying anything. they are well executed and well thought through investment strategies and a lot of good businesses are enabling them to execute on the strategies. >> like what? what are the bigger trends we're seeing and anticipate will carry into 2016. >> when everybody talks about where do private equity create their value. i start in the mid 90s. you have three boxes that you checked when you did your investment strategy. paying down your debt, pe
arbitrage and that has completely flipped around. the way to get a good exit is to really build the profitability of the business and that can be organically and what i think will contribute is add on. >> there's a little bit of a luxury problem, first world problem, if you will because so many money has been raised but a lower amount of money is spent on deals. is it because despite what you're saying the quality of assets out there that is out for sale isn't as high as you would think? is it because of the scarsty of assets? what is it? >> the quality of the assets for sale is high at the moment but you have a lot of private equity funds chasing those deals and what we have seen over the last few years is more and more specialization because in order to compete and really be able to work with management teams and drive that value we're talking about it's about knowing a business and understanding where
the opportunities are. so although there's a lot of competition, it's the less people will compete for each deal but the competition is fierce. >> but also it intensifies these companies to actually engage in riskier bets actually? does it actually bring down the rate of return? >> that's an interesting question and one i'm asked a lot. i personally believe it's more sophisticated and they'll spend more time to decide really where they want to be. it's not just a case of i want to win it. of course irr have come down naturally but it's more of the competitive tension but the deal is getting done and fundamentally good quality. >> what's the supply line like though for the good deals? where are they coming from? >> so the sector i specialize in is the 100 million to billion euro deal. if you look at the deals above
that that's quite an interesting conversation to have. there's not as many of them and it's been a great couple of years for the big funds that exi exi exited a lot of the businesses. there's still a good quality stock and partly driven by private equity themselves. they have been investing heavily. these businesses although it's a good time to sell now they're not ready to go to market. you have to execute your growth plan and therefore it's going to be the next few years and actual through secondary market buying from smaller funds to take the business to the next stage of growth. >> a really interesting trend over the last couple of months is the drop off of pe sponsored ipos, i wonder why that is. we've seen the reemergence of the strategic buyer and corporate competition. more and more m&a deals happening. is there a sense that this will intensify into 2016? >> i'm not an expirt on the ipo
market. we do a lot of work but when you decide to exit the business what you want is certainly. you want certainty of delivery and ipo windows open and close. they're preparing in advance so the conversations we have, we're not sure if it would be the right time so we'd rather go down the m&a root. that's ultimately where they think they'll get the value from. >> here in the u.k. we're heading for referendum. is that going to make a big difference for the private equity environment? >> it's a big question and one that nobody has brought up with me before. they need to be looking at the strategy, 3, 4, 5 years out.
that's when they'll be getting value from the businesses they invested in. >> thank you so much for your time. >> now presidential candidates bypass their immediate competition entering what seems like a general election grudge match. trump went toward her refusal to back down toward her claim that he has become isis's best recruiter. >> wow, wow, wow! >> donald trump again storming past political decor rum. this time to criticize hillary clinton. >> what happened to her? i'm watching the debate and she disappeared. >> for using the bathroom during the democratic debate. >> i know where she went. it's disgusting. i don't want to talk about it. no, it's too disgusting. don't say. it's disgusting. >>ened going even further parading her with a sexual vulgarity for losing to barrack
obama in 2008. >> she was going to beat, she was favored to win. she lost. >> hillary clinton firing back with humor. >> we should give a few more minutes for bathroom breaks at the debate. >> i'm just glad they had one somewhere. >> and a message to a little girl about bullying. >> you are looking at somebody that's had a lot of terrible things said about me. it's important to stand up to bullies where ever they are and why we shouldn't let anybody bully his way into the presidency. >> trump's grand rapid's rally was anything but merry and bright. the crowd riled up and angry. trump turned the tables on reporters. >> by the way, i hate some of these people but i'd never kill them. i hate them. these people. i'll be honest. i would never kill them. i would never do that. >> his traveling press corp in
the center of the arena as thousands booed and jeered. >> the average american was just sitting on their couch saying that exact same thing. >> a new poll found that half of all americans would be embarrassed to call the billionaire president and though that same poll finds him once again atop the gop field ted cruz is gaining fast. >> i don't need to be another political puppet. i'll let donald trump speak for himself and i'll speak for myself. >> tracie potts joins us from the capital in washington it lead to a lot of controversy. >> donald trump is saying it's the media blowing things out of proportion. twe tweeting about it this morning saying this is a biased media
incorrectly interpreting the word he used. he made reference to the fact it was used by an mrp reporter and was commonly known. >> also we're tracking the polls. casey mentioned the poll yesterday. the latest from reuters shows a much wider margin and still ben carson in the number two spot but shows donald trump with three times as much support with ted cruz behind that. the polls are back and forth right now but one thing consistent about them. they do all show donald trump in the lead. >> all right, tracy, thank you for that. tracy pots from nbc news. >> now -- i thought we were going to go still to come. then i hear have a chat. >> what should we talk about? the markets? >> trump is an interesting one. continues to be an interesting one. continues to go on to headline where is maybe headlines aren't
really need which had is the interesting bit about it. it's going to be interesting to see what happens further on in the race. we're still a year out, right? >> yes, but iowa voting kicks off in 8 weeks time. that's not foo far out. >> he's not been doing too badly in the polls. mr. cruz has been rallying behind him. also some of the other contenders, yes, santorum for example, he dropped out but the field needs to narrow more. >> a guest said to me recently if you took some of the things that trump said and you had a ceo of a big company say it, ceo of a bank say it, ceo of another developed country say it the heat would be completely different. the ceo would be fired. ceo of the bank would be fired. you wouldn't be able to have it. you just wouldn't. compliance and regulation. >> but polarizes and that's what the people in the u.s. want.
they want someone that's antiestablishment clearly. but are they going to go for someone as extreme. this is what people are calling for otherwise he wouldn't be commanding such high ratings. >> it's astounding. but still to come here on the show, is it a bird? is it a plane? find out what the people of nevada saw in the night sky, when we return.
welcome. fantastic to have you with us. we are waiting for the prompt. >> and the headlines. >> an early christmas present for investors with all major european markets rallying as u.s. futures point to a positive open. >> they still make sense even with lower oil prices. the energy giant says the -- all right, the break even with future crude prices in the low 60s, the deal wou