Rally Resumes, Pres. Trump on Boeing: “Big Disappointment” & Netflix Competitive Headwinds
Squawk on the Street
CNBC
4.1 • 567 Ratings
🗓️ 22 January 2020
⏱️ 43 minutes
🧾️ Download transcript
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| 0:00.0 | Market Moving Insight and Analysis joined Jim Kramer, David Faber, and me, Carl Cantonia, on the opening bell hour of CNBC Squawk on the Street. |
| 0:08.0 | Good Wednesday morning, welcome to Squawk on the Street. I'm Carl Cantoneo with Jim Kramer and David Faber at the New York Stock Exchange, |
| 0:17.0 | looking to recapture Tuesday's losses and set some new records for the SMP and NASDAQ at the open. President speaks to CNBC and Davos. Chinese officials give an update on |
| 0:25.4 | the coronavirus, got earnings from Netflix, IBM, and more. Europe is flat and oil is down today. |
| 0:31.0 | Our roadmap begins with a wide-ranging interview with the president. What he has to say about Boeing, |
| 0:36.1 | Tesla, Apple, and more. And Netflix is |
| 0:39.3 | hugging the flatline this after providing weak guidance. It did report domestic subs that were |
| 0:44.5 | below expectations, but around the globe, pretty good. We're going to break down the impact |
| 0:48.9 | of all the competition from Disney and others as well. Of course, shares of IBM get a boost |
| 0:53.7 | after beating the street. You'll hear what Ginny Remedy had to say about the road ahead. Futures are higher today after yesterday's rough session. The Dow was dragged lower, as you know, by Boeing, which fell more than 3% as the manufacturer pushes back when it expects the max to get back to service. The president did comment on Boeing in that wide-ranging interview with our Joe Kernan. |
| 1:12.4 | Take a listen. |
| 1:13.9 | This is one of the great companies of the world, let's say, as of a year ago, and then all of a sudden things happened. |
| 1:19.8 | I am so disappointed about it had a tremendous impact. |
| 1:22.8 | You know, when you talk about growth, it's so big. |
| 1:25.7 | Some people say it's more than a half a point of GDP. So Boeing, |
| 1:30.3 | a big, big disappointment to me. Big disappointment. You can imagine why, Jim, because the Boeing |
| 1:37.4 | impact on macro is unwinding essentially the benefit that we think we're going to get from |
| 1:42.9 | phase one. Yeah, look, this is what we're good at, the aerospace machinery. |
| 1:48.8 | I mean, people think that we've been supplanted a lot of different kinds of machinery |
| 1:52.3 | in this country by the Chinese. |
| 1:54.2 | We're the best at aerospace. |
| 1:55.8 | So when your end product can't be moved, you're really bottling up a big supply chain that really reverberates |
... |
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