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Squawk on the Street

Record Rally Rolls On, IAC to Spin-Off Match & Broadcom’s Possible Unit Sale

Squawk on the Street

CNBC

News, Business, Investing

4.1567 Ratings

🗓️ 19 December 2019

⏱️ 44 minutes

🧾️ Download transcript

Summary

David Faber & Jim Cramer discuss today’s the record rally for Wall Street, stocks hitting new highs on the heels of the historic impeachment of President Trump. The S&P nearing its best year since 1997. Plus, Match set to spin-off the online dating service, Match Group. And David’s latest reporting on Broadcom’s plans to sell its wireless chip unit.

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.

0:04.7

Don't miss a minute of the action.

0:11.5

Well, good morning and welcome to Squawk in the Street. I'm David Faber with Jim Kramer, and we are live from the New York Stock Exchange.

0:17.3

Carl has this morning off. Let's give you a look at futures if we get ready to begin trading. One half hour from now, and you can see we're set up for a slightly, well, kind of a mixed bag, slightly higher open perhaps. Let's get to our roadmap this morning. It does start with that record run for stocks. The S&P nearing its best year since 1997, and Wall Street is poised for a higher open.

0:38.1

You saw it there, a bit at least, on the heels of the historic impeachment of President Trump.

0:44.0

George Secretary Manusian is going to join us exclusively in the next hour.

0:47.4

We're going to discuss the president's post-impeachment economic agenda,

0:51.4

essentially the economic agenda really between now and the election next year. Of course, the House readying that vote on the USMCA, an important trade agreement.

1:01.0

Plus, chips are continuing to outperform. Micron shares a rally.

1:05.0

After an earnings beat, the CEO will join us in Squawk Alley.

1:09.0

And IAC is spinning off online dating service match group,

1:13.6

all of it, to its shareholders.

1:16.6

Shares are climbing ahead of the bell, we'll look into that.

1:18.6

Interesting Diller transaction, though we begin today, of course, with the markets.

1:22.6

One day after the impeachment of the president.

1:29.2

It was an interesting evening.

1:30.0

Yeah, it was.

1:38.6

You know, David, this is the beginning of an underperformance period if we find, if we analogize to Clinton.

1:40.9

The only difference is that there were Democrats who joined Republicans in the

1:45.9

impeachment process because they felt it was a cut and dried violation of the lying about

1:51.5

sex act. It was one count of perjury. Right. About lying about sex act. Yeah. So there was

1:57.3

a little more suspense than there is now. It wasn't viewed as a campaign event, so to speak, but it was the second term. But I would just be just saying that history says 2 to 3% pullback here. All right. Let's talk more markets, because as we made clear yesterday, the markets don't seem to be focused at all on impeachment. There are a lot of other things. Of course, markets are focused on.

...

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