RECORD RALLY. MAKE OR BREAK SEASON FOR RETAIL. FROZEN FIRE.

Squawk on the Street

CNBC

News, Business, Investing

4.1 • 567 Ratings

🗓️ 2 December 2019

⏱️ 44 minutes

🔗️ Recording | iTunes | RSS

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Summary

David Faber and Jim Cramer breakdown the record rally on the first trading day of December. Stocks looking to maintain their upward momentum following their best monthly performance since June. And it’s the moment for retail. According to Adobe analytics, online shoppers spent $7.4 billion on Black Friday, marking the second largest online shopping day ever. The firm is estimating cyber Monday sales of $9.4 billion. Disney’s “Frozen 2” takes the box office by storm setting a Thanksgiving holiday record taking in $123.7 million in North American ticket sales.

Transcript

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0:00.0	Market Moving Insight and Analysis.
0:02.1	Join Jim Kramer, David Faber, and me, Carl Cantonia, on the opening bell hour of CNBC Squawk on the Street.
0:12.0	Good morning and welcome to Squawk on the Street. I'm David Faber with Jim Kramer, and we are live from the New York Stock Exchange.
0:19.6	Carl has this morning off.
0:23.9	Let's give you a look at futures as we get started with trading a half hour from now.
0:29.3	Last month of trading for the year, of course, our first day of trading in the month of December.
0:32.2	That gets us to our roadmap this morning and to what else?
0:33.2	That record rally.
0:38.0	Stocks do look to start December on an upswing this after big gains in November.
0:42.2	Plus, it's a make or break season for retailers, isn't it?
0:46.0	Yeah, how the sector is shaping up for this condensed holiday season.
0:47.4	It's already December 2nd.
0:51.9	And why Jack Dorsey's planning to spend a big chunk of next year in Africa?
0:55.5	We'll discuss it, even if we know nothing about it.
0:57.2	Never stops us.
0:57.6	No.
0:57.9	No.
1:00.2	As we enter the first day of trading of December,
1:02.4	stocks are looking to maintain their upward momentum following what was the best monthly performance since June.
1:06.0	The NASDAQ was the top performer among the three major indices.
1:09.2	Its November gain was 4.5%, Jim, as we head into 2020, amazingly as that is.
1:17.5	I mean, we have to look at the likes of Apple and Facebook and the incredible gains.
	...

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