To view this email as a web page, go to the link below, or copy and paste it into your browser's address window. https://view.response.cnbc.com/?qs=10323f04e2631e582dbf683737946a9e738f94eb62bc97ccd005746314002b7e0c13210aa1a36978a62287cc24581e646c9b139ff19933e348362c0e8ca3fd8eCNBC | Morning Squawk To view this email as a web page, click https://view.response.cnbc.com/?qs=10323f04e2631e582dbf683737946a9e738f94eb62bc97ccd005746314002b7e0c13210aa1a36978a62287cc24581e646c9b139ff19933e348362c0e8ca3fd8e here. https://click.response.cnbc.com/?qs=789378242b2a3df524ac316c86349e5b7c42ac59a2958977c74f09dea553f1bc289aa8d6c9efdd65 https://click.response.cnbc.com/?qs=789378242b2a3df59277fe88d62534e5e3f490faf9fb9ca79e314e25e744bf785353aa1e97cca0ec MARKETS & THE FED U.S. stock futures https://click.response.cnbc.com/?qs=789378242b2a3df5f259992c65a84f02e13c076237fa931f742ab84b8c1a344200445b2d4d90afad were lower this morning, ahead of the conclusion this afternoon of the Fed's two-day December meeting. Policymakers are widely expected to hike interest rates for the second time in a decade. (CNBC) The Fed issues its https://click.response.cnbc.com/?qs=789378242b2a3df5c2b2c73bc332f6f09a4eaa4bf1de43bc182d83a53778a6f8f35eccbc670d5a30 policy statement at 2 p.m. ET , followed by Fed chair Janet Yellen's news conference. Investors are keen to see the dot plot of projected rate increases for year next. (CNBC) The Dow stands https://click.response.cnbc.com/?qs=789378242b2a3df5c91e9d53c11fe28c4c7ff6d116e745451887c7244fcb6470121f30e71392eb7f less than 90 points away from the 20,000 level, ahead of today's trading on Wall Street. While off the Tuesday's highs, the Dow, S&P 500, and Nasdaq all posted record closes. (CNBC) https://click.response.cnbc.com/?qs=789378242b2a3df5ce7719298c495d159d866e5523e03f4bae07a6a9f0279d8f4fdeaf97c38fe8ae Oil was lower this morning, following a rise in U.S. crude inventories and an estimate that OPEC may have produced more crude in November than previously thought, potentially undermining a planned output cut. (Reuters) Higher than anticipated demand for OPEC crude combined with the deal with non-OPEC nations to cut production is forecast to rebalance the market in the second half of 2017, according to https://click.response.cnbc.com/?qs=789378242b2a3df569a0d0f0df983d7b101cba58acfc38769b551231a761c7d037e82d47fc9e18d1 OPEC's latest monthly report . (CNBC)A 10-year Treasury yield above 3 percent https://click.response.cnbc.com/?qs=789378242b2a3df59af4e5c78da22126a78082efb95f554e64aa10dcba54c92af4bb08d2fb57e1b8 would harm the stock-market rally and housing market, said Jeffrey Gundlach, chief executive of DoubleLine Capital. Earlier this week, the yield topped 2.5 percent. (Reuters) https://click.response.cnbc.com/?qs=789378242b2a3df5bd4f78fd8bd1328bcc7a26cd3136987b27fedd12e660d628f4efea09f79a4005 https://click.response.cnbc.com/?qs=789378242b2a3df5c03c063499683115881db87a5245eecb4943709607ca063e0315889df44ae4d6 https://click.response.cnbc.com/?qs=789378242b2a3df5c712e9c2dfc878bdd82f77c0fbeda3d734092b06f3dddd4bffdb1efa52254013 TRUMP TRANSITION IBM (IBM) chief Ginni Rometty, among the tech executives set to meet with Donald Trump today, said the company https://click.response.cnbc.com/?qs=789378242b2a3df556e9436dd158843fd329c5b0eb74b5dfacc855d772a760bd0b2ab18045ba2ba7 plans to hire 25,000 employees in the next four years in the United States. (Reuters) Trump's https://click.response.cnbc.com/?qs=789378242b2a3df577f9a61fe02149297fb1ca1d38f4bd81e6996983ffabb98bde79b61f64bf87aa tech guest list also includes Alphabet's Larry Page, Elon Musk, Apple's Tim Cook, Facebook's Sheryl Sandberg, and Microsoft's Satya Nadella. But Twitter co-founder and CEO Jack Dorsey https://click.response.cnbc.com/?qs=789378242b2a3df56c2407508763db872b75b36ceac5ba60b4fcc1f88678de734d5a417c994ea62b has not been invited . (Recode) Alphabet's (GOOGL) Google https://click.response.cnbc.com/?qs=789378242b2a3df52f5c4eac12052aee14967f1e4e2f738701a7a9e332e0713dc4c40dcb3d387f8e is said to be racing to hire more conservatives for its lobbying arm, after years of enjoying President Barack Obama's support and positioning itself for a Hillary Clinton presidency. (Reuters) Trump has tapped House Natural Resources Committee member https://click.response.cnbc.com/?qs=789378242b2a3df57786a419cd54ef7c64747a37842c2fb381509ba1e72f65a0ea870e050ad3caf8 Ryan Zinke for Interior secretary . Meanwhile, as expected, the president-elect has formally picked former rival and ex-Texas Gov. https://click.response.cnbc.com/?qs=789378242b2a3df53fe08d990cb214de2b6386866c53ae8e1c890f2e06bd8a57bc97ff95b2971bf9 Rick Perry as Energy secretary . (NBC News & Reuters) With Gary Cohn leaving Goldman Sachs (GS) to become a top Trump economic advisor, the bank https://click.response.cnbc.com/?qs=789378242b2a3df593a193b3397ec5c11612e88bc669c45e316dc3b968a9aef141e474126434115c plans to promote David Solomon and Harvey Schwartz to fill Cohn's No. 2 spot to CEO Lloyd Blankfein. (WSJ) A majority of business leaders in the CNBC Global CFO Council survey expect Trump and Capitol Hill to find a way to bring cash held by corporations overseas back to the U.S. But they said https://click.response.cnbc.com/?qs=789378242b2a3df5f61ec65647db928878a284d3b00bd69cbd3359a3254fa15998162341ab6675c8 don't tell us how to spend it .IN THE NEWS TODAY Billionaire activist investor Bill Ackman's https://click.response.cnbc.com/?qs=789378242b2a3df50099a73cdc09e0fd3b535bfe501baeb1cc853bf07bf601e01df473ad8162563e sold more than 3.4 million shares of embattled Valeant (VRX), generating a tax loss for clients with money in his Pershing Square hedge fund. (CNBC) Hertz (HRI) said John Tague https://click.response.cnbc.com/?qs=789378242b2a3df5323ab1674de4ba682ced17dab8d3a68a7176a34e2fa6e75639b8126357792d09 will step down as CEO, replaced in the new year by Kathryn Marinello. The move was praised by billionaire activist investor Carl Icahn, who's the rental car firm's biggest shareholder. (CNBC) Wells Fargo (WFC) would damage financial markets if it were pushed to bankruptcy, said U.S. regulators, as they imposed restrictions on the bank, which https://click.response.cnbc.com/?qs=789378242b2a3df5f55b904f385ec2a9f51fd97b8ad0208728fc6e2aad7c7b83cb4e0b05fd2be7c1 failed its "living will" review . (Reuters) General Motors (GM) https://click.response.cnbc.com/?qs=789378242b2a3df54bad8a1a3824b39559c0eb8acf9a43da16f7bf1dba00820b589e245a6db1e2bb has asked the Supreme Court to reverse a lower court decision that would open the automaker to potentially billions of dollars in lawsuits related to pre-bankruptcy claims over defective ignition switches. (The Detroit News) United Parcel Service (UPS) and FedEx (FDX) https://click.response.cnbc.com/?qs=789378242b2a3df50d3c47a563fe716749d2557fdea129cb957f801c0c984147b2736944c40f38f2 are straining to keep up with holiday shipping volumes that have blown past expectations, delaying the delivery of some of the millions of online orders. (WSJ) Switzerland's Actelion (ALIOF) said it's in talks with an undisclosed suitor about a "strategic transaction," even as another potential acquirer, U.S. health care giant Johnson & Johnson (JNJ) https://click.response.cnbc.com/?qs=789378242b2a3df5b59371171dac0888adea029a8ada1483a17a6c8118db80765c7211cee495cfd2 bows out . (Reuters) Nokia-branded handsets https://click.response.cnbc.com/?qs=789378242b2a3df58d113497461e25274bd0384779cb7e6ce67f22e73d5a03b8dc7ee0199a36fe94 are making a return to the market, with the first announced device being a $26 dumb phone complete with the classic "Snake" mobile game. (CNBC) Snapchat https://click.response.cnbc.com/?qs=789378242b2a3df5d3bbf9ce13df1bd8b7d9f0a417c23720f4c0bd3f02fa3b51652ef7966cc0d972 has quietly rolled out a group messaging function that lets users chat with up to 16 friends, as the company adds more features to challenge Facebook's (FB) platforms. (CNBC) Spam emails loaded with ransomware — malware that scrambles data and demands a ransom to decode it — https://click.response.cnbc.com/?qs=789378242b2a3df5711486f6f2bc7d03d24d033253cb7e868697455ea8f324ad8e4a5f63ec51ba4c increased 6,000 percent this year compared with 2015, a new study from IBM Security found. (CNBC) Despite a growing array of television content choices, a new survey from PwC found cord-cutting https://click.response.cnbc.com/?qs=789378242b2a3df573beff306afe1a3d124c5b4b5db87c1b7017b79ede762a009cac173f02f4428d is not happening as quickly as expected, and plans to stick with the bundle is actually on the rise. (CNBC) The average sales price of an apartment in Manhattan https://click.response.cnbc.com/?qs=789378242b2a3df568940cff3bebe68e2e70ed83ccc8b447bbf65a2d8b67fc8ad34d580e8dd88f77 is expected to top $2 million this year for the first time, but prices are seen leveling off in 2017 after nearly doubling over the past decade. (Reuters) BY THE NUMBERS Ahead of the Fed's rate decision, there's no shortage of economic numbers this morning, with November producer prices and retail sales at 8:30 a.m. ET. November industrial production is out at 9:15 a.m. ET, while October business inventories are out at 10 a.m. ET. With all the attention on the crude production cut promised by international producers, the U.S. Energy Department releases its weekly report on American oil and gasoline inventories at 10:30 a.m. ET. Mining equipment maker Joy Global (JOY) this morning reported adjusted quarterly profit of 17 cents per share, matching estimates, while revenue fell short, as the commodity price slump continues to impact customers. Rising mortgage rates appear to be the new normal, and the real estate market is still adjusting. Total home loan application volume https://click.response.cnbc.com/?qs=789378242b2a3df55a3dd5b403492517eca7d049f94ad4de7fe78f8d7cdc1ee1f519d14c1864999e fell 4 percent last week, according to the Mortgage Bankers Association. WATERCOOLER Alan Thicke — father of pop-soul singer Robin Thicke and best remembered for his role in the 1980s sitcom "Growing Pains" — https://click.response.cnbc.com/?qs=789378242b2a3df5cc2ad929970ffd67a09b54fe71ef2aa3afbb98d8deec8c5e9e8e2d7ab0edaa89 died suddenly of a heart attack on Tuesday. He was 69. (LA Times) CONTRIBUTORS https://click.response.cnbc.com/?qs=789378242b2a3df5a2b9c537fe56575256139f3d5800af007932a8ca7fcc759ece44491ca27139ee https://click.response.cnbc.com/?qs=789378242b2a3df5a2b9c537fe56575256139f3d5800af007932a8ca7fcc759ece44491ca27139ee Matthew J. BelvedereSenior Producer https://click.response.cnbc.com/?qs=789378242b2a3df5fbe060a8a91b8491ca6b19eb1a256403ac140c3192b41df90a8c3ff0b93907b0 @Matt_Belvedere https://click.response.cnbc.com/?qs=789378242b2a3df5defcacc9570795df1f034999711b24365fb82facda12f67fc4c92ab728c5aa23 https://click.response.cnbc.com/?qs=789378242b2a3df5defcacc9570795df1f034999711b24365fb82facda12f67fc4c92ab728c5aa23 Peter SchacknowSenior Producer https://click.response.cnbc.com/?qs=789378242b2a3df524ad893503b33680b023784b97e4ebb6f559f33ccfb5f26432f9ae227e896839 @peterschack https://click.response.cnbc.com/?qs=789378242b2a3df538a0375483c2252faf06a98755d656a85fe6d12a5b6faa54fba56cd03e362b8b https://click.response.cnbc.com/?qs=789378242b2a3df538a0375483c2252faf06a98755d656a85fe6d12a5b6faa54fba56cd03e362b8b Tom DiChristopherWeb and TV producer Feedback We value your input—use https://click.response.cnbc.com/?qs=789378242b2a3df5a6662acedd5a3e91705315aabed5a37e0e31b4205d2cd875a479603f45611e2b our simple form to let us know what you think. 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