"To have the United States at our side was to me the greatest joy. Now at this very moment I knew the United States was in the war, up to the neck and in to the death. So we had won after all!... Hitler's fate was sealed. Mussolini's fate was sealed. As for the Japanese, they would be ground to powder." --  Winston Churchill

On this day in 1941, Japan attacked the naval base at Pearl Harbor in Hawaii, bringing the United States into the Second World War.

A TRUMP-INSPIRED RALLY

We’re all about the tide of history on BNN today. The S&P 500 index is up more than 3 per cent since the Nov. 8 election of Donald Trump amid hopes that he’ll push through tax cuts, deregulation and infrastructure spending. Meanwhile, bonds have slid on fears that inflation is back, driving the yield on U.S. 10-years to almost 2.5 per cent from 1.6 per cent at the end of September.

At 10:30 a.m. ET, BNN will hear from renowned fixed-income investor Bill Gross, portfolio manager at Janus Capital Group. He has been warning investors about a downside:

“Longer term, investors must consider the negatives of Trump’s anti-globalization ideas which may restrict trade and negatively affect corporate profits. In addition, the strong dollar weighs heavily on globalized corporations, especially tech stocks.”

U.S. second-tier bank stocks, as tracked by the SPDR KBW regional banking ETF (KRE.N) have jumped 24 per cent since Trump’s win. That has turned into a roadblock for the deal in which Canadian Imperial Bank of Commerce (CM.TO) plans to acquire Chicago-based PrivateBancorp, (PVTB.O) for cash and stock because the price on offer doesn’t reflect the rally in other banking shares. Amid speculation that the Canadians will have to increase their offer, PrivateBancorp has postponed the meeting of shareholders originally scheduled for tomorrow to approve the takeover.

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MORE FROM BNN ADVISOR

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MAKING MEAT

From banking to meat. On Commodities at 11:50 a.m. ET, we’ll be joined by Uma Valeti, CEO of  Memphis Meats. The California-based company is growing "cultured" meat from stem cells harvested from cows, pigs, and chickens.

BANK OF CANADA RATE DECISION 

At 10 a.m. ET, we get the Bank of Canada’s final scheduled interest rate decision of the year - Eric Lascelles, chief economist at  RBC Global Asset Management, will provide off-the-cuff reaction. The heavy debt load of Canadian consumers is one factor weighing on central bank chief Stephen Poloz. At 12:20 a.m. ET, we get an update from Regina Malina at credit checker Equifax Canada.

Finally, it’s the time of year when we head out to the local park and dig up a festive tree. Bringing that sucker home can be messy, so we’re glad to see there’s now a “car transportation bag,”a fancy tarp that protects the entire rear storage space, including side panels, windows and the roof. 

Fark.com points out the only disadvantage:  It makes you “look like a serial killer.”

Every morning Commodities host Andrew Bell writes a ‘chase note’ to BNN's editorial staff listing the stories and events that will be in the spotlight that day. Have it delivered to your inbox before the trading day begins by heading to www.bnn.ca/subscribe.