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Squawk on the Street

Trade Optimism & the Stock Rally, Retail’s Big Week & Ford vs. Tesla

Squawk on the Street

CNBC

News, Business, Investing

4.1567 Ratings

🗓️ 26 November 2019

⏱️ 43 minutes

🧾️ Download transcript

Summary

Carl Quintanilla, David Faber & Jim Cramer discuss the record rally for Wall Street and whether investors have a reason to be optimistic about China trade talks. Plus, the big week for retail: Best Buy, Dollar Tree, Dick’s Sporting Goods, Abercrombie & Fitch all reporting quarterly results. Hear why Jim thinks ‘Target has the mojo & Macy’s is missing the mojo-per-share’? And Ford challenging Tesla to an ‘apples to apples’ tug-of-war between pickup trucks, Elon Musk says ‘bring it on’.

Transcript

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0:00.0

Market moving insight and analysis join Jim Kramer, David Faber, and me, Carl Kaintena, on the opening bell hour of CNBC Squawk on the Street.

0:12.0

Good Tuesday morning, welcome to Squawk on the Street. I'm Carl Kaino with Jim Kramer and David Faber at the New York Stock Exchange.

0:20.0

Futures are steady as China says

0:21.5

its reach consensus with the U.S. on some relevant phase one issues. Retail earnings, of course,

0:26.1

best buy Dix, Dollar Tree, PVA, are mixed, but some increases in guidance. Europe's largely

0:30.8

unchanged. Ten year 173, K. Schiller, home prices up three-two in September year-on-year.

0:36.8

Our roadmap begins with the record rally for stocks rolling on, renewed China trade optimism

0:41.1

set to fuel further gains at the open.

0:43.5

Retail's big week and the tariff impact into the holidays, best-buy, Dix, Dollar Tree,

0:49.0

Abercrombie among the retailers that are reporting quarterly results today.

0:52.4

And four, challenging Tesla to a quote,

0:54.7

apples to apples tug of war between pickups. And Elon Musk says, bring it on. Stocks are looking

1:00.8

to set more milestones a day after the three major indices saw record closes. You got your top

1:05.1

trade negotiators from the U.S. and China holding a phone call earlier this morning as the two

1:10.1

sides continue to work

1:11.1

toward a phase one trade agreement. Trade rep Lightheiser, Treasury Secretary Manusian, both

1:16.0

participated in that call. And then Moffcom says both sides agreed to remain in contact over

1:20.9

remaining issues. Jim, on Twitter, you said the phone call last night was very important in terms

1:26.8

of furthering a deal.

1:28.5

Yeah, it's real.

1:29.7

You know, I've been skeptical.

1:31.8

This was a real call.

...

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