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Squawk on the Street

Trade Fears Sink Stocks & The NBA's Expanding China Backlash

Squawk on the Street

CNBC

News, Business, Investing

4.1567 Ratings

🗓️ 8 October 2019

⏱️ 44 minutes

🧾️ Download transcript

Summary

Carl Quintanilla, David Faber & Jim Cramer discuss the expanding U.S. blacklist of Chinese companies, stocks sink on fading trade optimism. Plus the NBA expanding China backlash following one manager's tweet about Hong Kong.

Transcript

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0:00.0

It's Jim Kramer here.

0:01.3

You're listening to the opening bell of CNBC Squawk on the Street.

0:04.6

Don't miss a minute of the action.

0:13.0

Good Tuesday morning.

0:14.0

Welcome to Squawk on the Street.

0:15.0

I'm Carl Kintanayor with Jim Kramer, David Faber, the New York Stock Exchange.

0:18.3

Dow futures down, obviously firmly in the red as some doubts

0:20.9

creep in ahead of the U.S.-China trade talks. Boeing down more than a percent on a couple of

0:25.6

negative headlines will not help the index at the open either. Europe's red 10-year-belo

0:29.8

153 September wholesale inflation runs much cooler than expected. Our roadmap begins with

0:35.3

fading optimism for a China trade breakthrough. More companies

0:38.8

blacklisted ahead of those talks this week. Stocks are set to open lower. Plus NBA backlash.

0:44.7

Broadcasts of preseason games are suspended in China while the NBA commissioner says profit

0:49.8

can come before principles. And as we said, Boeing under pressure, the company sued by the union

0:54.7

representing pilots at Southwest over the now grounded 737 max. So tensions between the U.S. and

1:01.7

China, ahead of trade talks scheduled for Thursday in Washington. The Trump administration

1:05.9

adding 28 new Chinese firms to an export blacklist, citing their role in the repression of Muslim

1:12.1

minorities in northwest China. Targets include AI startups. A spokesperson for the Chinese

1:17.2

Foreign Ministry quoted as saying, stay tuned for retaliation. And then there's some additional

1:22.8

reports out of the Chinese press that they're going to cut their visit short by a day.

1:28.0

Luhi apparently not carrying the title of official envoy,

1:31.5

meaning they haven't been given official instructions from Xi.

...

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