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Squawk on the Street

China Trade Concerns Hit Stocks, The NBA's China Headache & 'Just Say No, IPO'

Squawk on the Street

CNBC

News, Business, Investing

4.1567 Ratings

🗓️ 7 October 2019

⏱️ 44 minutes

🧾️ Download transcript

Summary

Carl Quintanilla, David Faber & Jim Cramer discuss reports that a broad China trade deal could be off the table & the stock impact as talks get set to resume in Washington. Plus one NBA manager's tweet about Hong Kong sparking a business backlash & political firestorm. And Cramer's message to startups: 'Just say no, IPO.'

Transcript

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0:00.0

Market Moving Insight and Analysis joined Jim Kramer, David Faber, and me, Carl Kintania, on the opening bell hour of CNBC Squawk on the Street.

0:12.0

Monday morning, welcome to Squawk on the Street. I'm Carl Kintania with Jim Kramer, David Faber at the New York Stock Exchange.

0:16.0

Futures red as the Bulls try to snap a three-week slide for the Dow in the S&P.

0:20.0

Trade's going to dominate the headlines as talks begin this week, throw in 11 Fed speakers of inflation data, Fed Minutes, and of course a trickle of earnings.

0:28.6

Europe is green, 10-year 154.

0:30.6

Our roadmap begins with China trade concerns, with talk set to resume, reports that a broad deal could be off the table. Stocks set to open lower.

0:38.3

Plus, underperforming a status check on the now not-so-hot IPO market.

0:43.3

And the NBA's China headache.

0:45.3

One manager's tweet about Hong Kong sparking a business backlash and a political firestorm.

0:51.3

The Dow and the S&P, now in the midst of a three-week loss despite a Friday rally,

0:55.9

which was the best one-day performance since August. We're set for a lower open, China

0:59.8

reportedly looking for a limited trade agreement when talks begin with the U.S. later this week,

1:05.3

this Bloomberg piece guys, talking about how don't expect massive agreement this week, but who knows?

1:11.4

Still early.

1:12.1

Well, there was conflicting reports out of I felt the administration last week.

1:17.5

On Friday, Larry Cudlow, chief economic advisor, basically said, look, there could be some good things.

1:23.0

But if you look at the agenda of what the president wants, it's the exact opposite of what

1:28.7

the Chinese said to Bloomberg.

1:31.1

The president's hoping to see an end of the stealing of intellectual property.

1:34.5

He's hoping to see the end of the forced technology transfers, hoping to see the end of

1:38.8

the fentanyl deluge, hoping that no more of our businesses are targeted, hoping that there's no more

1:44.4

subsidized state enterprises and no more cyber theft.

...

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