discussing with jack lew moments ago. and kayla tausche has all the details for us >> the president holding a meeting in the cabinet room earlier this afternoon with governors from around the country to talk about regulations. and in a lengthy availability, where cameras were present, president trump talked about what's coming up in terms of those china discussions and some of the difficulty that could rep main listen >> the deal will be finalized over the next couple of weeks. it's actually, translation is the biggest thing. the deal is finished, but the translation is very important. i said, make sure you have the right translators, because you can lose a lot with bad translation. we're working on getting that done >> the u.s. trade representative has said that this is targeted for a first week of january signing in washington, but as president trump notes, sometimes the devil is in the details. and specifically, the details as they are translated in either language wilf >> kayla, thanks so much i'm sure the complicated

jack lew has endorsed obama's v.p. he follows john kerry, ken salazar, hilda solis and tom vilsack, all of them now lining up behind biden. and we're now just two days away from the next democratic debate. this one could be critical to voters just starting to pay attention. that is if the debate happens at all. jeff zeleny in washington. >> reporter: a consequential week for the candidates who are making their way to california for the last debate of the year in los angeles. there's a hitch. a union strike is still threatening to derail the debate. seven candidates said they all would skip if the labor strike is not resolved. look for movement on that today. the debate is shaping up to be a big one. a new poll out showing that nationally joe biden is dema commanding in this race, with 30%, and elizabeth warren next at 17%. the debate offers the candidates one last chance to meet before the end of the year. they've been sparring from afar and this is one of the frames. are democrats looking like warren or sanders or a h

jack lew to join john kerry, hilda solis, ken salazar and tom vilsack. president obama talking about how the countries would be better off if women were running these countries. and the old men need to step aside. >> a lot of people were interpreting obama's comments as a veiled slight at biden. obama has been making similar comments about women needing to be in more positions of power for years. certainly, people reading into the fact that, you know, obama hasn't explicitly thrown his support behind biden. a couple of lower-level obama aides have thrown their weight behind other candidates, namely pete buttigieg. certainly, the obama cabinet, the officials, they're not lining up behind joe biden. it tells you a lot how wide-open this race remains. >> more women in power is a good thing. i can agree with you both on that. i assume you do, too, sarah. sarah westwood, live for us in d.c. >>> lawmakers have agreed to ban the sale of tobacco products to anyone under the age of 21, in a sweeping new, spending bill. the plan also repeals three health care taxe

lew explained his decision >> joe biden has both the heart to care and the experience to lead he has demonstrated his deep concern for an economy that works and works for working americans, for restoring american values and restore america's leadership as the global and economic leader that we need to be. he surrounds himself with people who really are the leaders with the next generation and has the ability to reach across party lines and across all parts of the democratic party he has the ability to make donald trump a one-term president. >> wall street is coming off the fourth straight day of gains with averages close at record highs. the phase one trade deal has lifted the cloud of uncertainty some what. >> joining me now, the founder of organization. are things more certain now? >> i think things are more certain now than back in the summer we've been talking a long time now since early october. u.s. small caps, midcaps are right for a rally. they are up around 12% they'll continue to do well in this environment it will continue through january. non-u.s. small caps will do very

a quick programming note as we do go to break do not miss former treasury secretary jack lew on closing bell today discussing the latest on trade, that's coming up at 4:00 p.m. ertin me dow is up 191. >>> analysts betting on more highs in 2020. this is forecast too hot too cold ndutust right? fi o on tradingnation.cnbc.com more "squawk on the street's" coming up. apps are used everywhere... except work. why is that? is it because people love filling out forms? maybe they like checking with their supervisor to see how much vacation time they have. or sending corporate their expense reports. i'll let you in on a little secret. they don't. by empowering employees to manage their own tasks, paycom frees you to focus on the business of business. ♪ music >>> welcome back squawk on the street let's send it over to the group in chicago and rick santelli with the santelli exchange hey, rick. >> good morning, thank you, morgan i'd like to welcome ubs chief economist seth carpenter spent a decade and a half at the fed as well. seth, trade deal done. that was one of the big quote/unquote uncertai