Markets and the Holiday Frenzy, China Galore, 2 Months of Falling Gas Prices 11/28/23

Squawk on the Street

CNBC

News, Business, Investing

4.1 • 567 Ratings

🗓️ 28 November 2023

⏱️ 44 minutes

🔗️ Recording | iTunes | RSS

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Summary

Jim Cramer and David Faber discussed what investors should make of the five-day holiday shopping frenzy -- from record online sales on Monday to why Jim says to pay close attention to brick-and-mortar retail action. China-related news in the spotlight: Fast-fashion giant Shein files for a U.S. IPO, the cost of dinner with President Xi, plus why affluent Chinese are moving their money out of their homeland. Also in focus: 60 straight days of falling U.S. gasoline prices, Zscaler slides despite an earnings beat, “Magnificent 7” watch, the Sports Illustrated-AI writer controversy, "Faber Report": U.S. Steel sale update. Squawk on the Street Disclaimer

Transcript

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0:00.0	It's Jim Kramer here.
0:01.3	You're listening to the opening bell of CBC Squawk on the Street. Don't miss a minute of the action. Good Tuesday morning. Welcome to Squawk on the Street. I'm David Faber with Jim Kramer. We're live from post nine at the New York Stock Exchange calls on assignment this morning. Let's give you a look at futures as we get ready to begin trading 30 minutes from now. I don't know. What do you call that to? Not much of anything.
0:22.8	It's just plopping and chop. get ready to begin trading 30 minutes from now. I don't know. What do you call that to? Not much of anything.
0:22.9	It's just flopping and chopping. Flopping and chopping. All right. There you heard it there. Let's go to our
0:28.0	roadmap this morning. And we're going to start with consumer strength. New spending records reached as retailers cap that five-day holiday shopping frenzy.
0:38.3	Plus the energy effect.
0:39.7	Gas price is dropping for 10 consecutive weeks, and OPEC is now on tap this week.
0:46.3	And we're also going to keep an eye on shares of Boeing.
0:48.8	It is amongst the biggest S&P gainers that, at least ahead of the open.
0:52.6	Got an upgrade this morning from RBC.
0:55.2	We'll talk a bit about that.
0:56.8	Jim will give me his requisite amount of...
0:59.8	What can I say?
1:01.8	Crap?
1:02.8	About having forced you to sell the stock?
1:05.2	No.
1:06.5	But we'll start with...
1:07.5	I did not.
1:08.9	I didn't force you to sell Boeing.
1:10.3	You did not. I will say that you to sell Boeing. You did not.
1:11.6	I will say that Boeing, the piece does say that look, supply chain troubles have just been a nightmare
1:19.6	for them, but those are through.
	...

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