DOW Surges, Coronavirus Concerns, Former Goldman Sachs CEO Rips Sanders

Squawk on the Street

CNBC

News, Business, Investing

4.1 • 567 Ratings

🗓️ 12 February 2020

⏱️ 43 minutes

🔗️ Recording | iTunes | RSS

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Summary

Carl Quintanilla, Jim Cramer and David Faber on the Sanders surge. Presidential hopeful Senator Bernie Sanders takes the top spot in New Hampshire followed by Mayor Pete Buttigieg and Senator Amy Klobuchar. Stocks rising as investors try to shake off concerns over how the coronavirus could impact corporate profits and the global economy. Carnival Cruise Line says its earnings could take a big hit, if it has to halt its Asia operations due to the coronavirus. Former Goldman Sachs CEO Lloyd Blankfein goes after Sanders on Twitter, writing "... he'll ruin our economy and doesn't care about our military." Plus, David Faber's reporting on Softbank as the company's profits plunge 99%, dragged down by losses from its Vision Fund.

Transcript

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0:00.0	Market moving insight and analysis join Jim Kramer, David Faber, and me, Carl Kintanilla,
0:05.0	on the opening bell hour of CNBC Squawk on the Street.
0:12.0	Wednesday morning, welcome to Squawk on the Street. I'm Carl Kaintena with Jim Kramer, David Faber, the New York Stock Exchange.
0:19.0	Dow Futures up 1.30, looking for a record open, reflects some hope that the novel coronavirus spread is peaking
0:25.6	as the number of new daily cases falls to the lowest since January.
0:29.8	Got Powell on the Hill day two today.
0:32.1	Europe is a relatively green.
0:33.7	Oil is up, even as OPEC cuts its demand forecast for a sixth time.
0:38.7	A roadmap begins with the new Hampshire squeaker, Sanders narrowly beating Buttigieg,
0:43.3	with Amy Klobuchar close behind, what it means for the next Democratic contest and why it matters for Wall Street.
0:48.9	Plus the rally rolls on, investors still closely watching the impact, of course, of the coronavirus amid signs the new reported cases could be slowing down.
0:58.0	And soft bank profits plunge, wiped out by vision fund losses. We'll get to that as well.
1:03.0	We'll start with the race for the Democratic presidential nomination. Bernie Sanders winning last night's New Hampshire primary by a minimal amount.
1:09.0	The senator from Vermont finishes with about 26% of the vote.
1:12.3	Edges out former South Bend, Indiana, Mayor P. Buttigieg.
1:15.2	Senator Abiklomachar with a surprised third place finish.
1:18.4	She tops Warren and Biden.
1:20.4	In his victory speech, Sanders ramped up his attacks on billionaires.
1:25.7	In this point in the campaign, we are taking on billionaires and we're taking on candidates
1:33.3	funded by billionaires.
1:39.3	But we are going to win because we have the agenda that speaks to the needs of working people throughout this country.
1:53.0	Health care is a human right, not a privilege.
	...

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