Record Highs, Apple Doubling Down in China?, Corporate America Under Attack

Squawk on the Street

CNBC

News, Business, Investing

4.1 • 567 Ratings

🗓️ 27 November 2019

⏱️ 42 minutes

🔗️ Recording | iTunes | RSS

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Summary

The "Squawk on the Street" team digs through the data. Durable goods rising in October while economists were expecting a decline. Weekly jobless claims fell and Q3 GDP was revised to show growth of 2.1%. Markets getting a boost with all three major indices hitting fresh record highs at the open. Apple contributing to the gains. Nikkei reporting that in order to meet huge customer demand Apple has asked Luxshare-ICT to double its production of the earphones at its Chinese facilities to two million units a month. Plus, corporate America is under attack on the campaign trail. According to new data, Presidential candidates have called out more than 80 companies, in 30 industries on twitter. The top targets in the past six months: Amazon, Facebook, McDonald's and Walmart.

Transcript

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0:00.0	It's Jim Kramer here. You're listening to the opening bell of CNBC Squawk on the Street.
0:04.6	Don't miss a minute of the action.
0:11.7	Good Wednesday morning. Welcome to Squawk on the Street. I'm Carl Kintanio and David Faber,
0:15.5	Mike Santoli at the New York Stock Exchange. Kramer has the morning off. After 10 record highs for
0:19.9	the S&P this month alone, looking
0:21.8	for another at the open, as data is good across the board today. Durables, jobless claims,
0:26.2	even revised Q3 GDP. Surprised to the upside. Europe is steady, yields are reacting to the data,
0:32.3	10-year-back near 178. Our roadmap begins with President Trump's upbeat outlook for trade
0:36.9	talks, giving a boost to Wall Street.
0:38.8	Stock set to open at new records once again.
0:42.3	The stock market just hit another all-time in history high, meaning 401ks and jobs.
0:53.4	Everybody's getting rich, and I'm working my ass off.
1:00.7	Shares of deer are sliding this morning this ahead of the open. The farm equipment maker
1:04.8	issuing a profit warning for fiscal 2020 as those trade tensions do persist. And the Toys R Us come back.
1:11.7	17 months after shuttering all their stores, the new company's first toy store set to open in New Jersey this morning.
1:19.4	As stocks look to set some new records on optimism about trade, this economic data today is also in the mix.
1:24.9	3Q GDP revised up from 1 9 to 2.1.
1:28.2	Durables rebound in October, up 6 tenths.
1:30.8	We were looking for a 1% decline, even business investment, Mike, up 1-2.
1:35.8	X-XAIR non-defense proxy for investment.
1:38.4	And that was not a good number last month, making up for it now.
1:41.2	Yeah, pretty well in tune with what the market has been trying to say,
	...

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