Historic Day in DC, Kudlow on Trade & Target’s Bad Holiday

Squawk on the Street

CNBC

News, Business, Investing

4.1 • 567 Ratings

🗓️ 15 January 2020

⏱️ 49 minutes

🔗️ Recording | iTunes | RSS

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Summary

Carl Quintanilla, David Faber & Jim Cramer discuss the historic day in our nation’s capital with impeachment expected to move to the Senate for trial and the phase 1 China trade deal set to be signed at the White House. Top White House economic advisor Larry Kudlow saying, “nothing like this in history has ever happen before.“ And Target shares tumble as holiday sales miss estimates due to weakness in toys & electronics, CEO Brian Cornell calling it a “tough miss.”

Transcript

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0:00.0	Market insight and analysis. You're listening to the opening bell of CNBC, Squawk on the Street.
0:09.7	Good Wednesday morning. Welcome to Squawk on the Street. I'm Carl Kintanilla with David Faber at the New York Stock Exchange.
0:14.7	Kramer is at one market in San Francisco. In a few moments, National Economic Council Director Larry Kudlow,
0:20.4	as the U.S. in China signed that phase one trade deal today. In a few moments, National Economic Council Director Larry Cudlow, as the U.S. and China
0:21.6	signed that phase one trade deal today. In the meantime, futures are soft in the wake of
0:26.7	target's surprisingly weak holiday comps. Goldman pretty good. Europe is read this morning.
0:31.7	December wholesale inflation does run a bit cool. Our roadmap this morning begins with an historic
0:37.4	day in our nation's capital.
0:39.1	Impeachment expected to move to the Senate for trial.
0:41.5	The phase one China trade deal set to be signed at the White House this morning.
0:45.2	Top Trump, top Trump economic advisor Larry Kudlow joins us first on CNBC this hour.
0:51.6	And financials are in focus.
0:53.2	Bank of America beats for the quarter. Goldman hampered by these litigation charges. And target shares are plunging this morning. Holiday sales miss on estimates, this on weakness and toys and electronics. So we'll begin, of course, with the U.S.-China phase one trade deal set to be signed this morning. This is what Treasury Secretary Manusian said about the agreement earlier this morning on Squawk.
1:11.9	We need to put together very significant laws to change rules and regulations and have made
1:19.8	very strong commitments to our companies that there will not be forced technology going forward.
1:24.6	And I think that's a very big win for our technology companies, for our
1:29.3	businesses, and for American workers.
1:31.3	So guys, we look forward to learning a lot more in the wake of this signing.
1:37.3	Jim, Mnuchin's appearance this morning did bring us something new, and that was the notion of
1:42.3	phase 2A, phase 2B, phase 2C.
1:45.3	So stories evolving rapidly.
1:48.2	Look, I think that the takeaway for me is that tariffs worked.
	...

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