Market insight and analysis. You're listening to the opening bell of CNBC, Squawk on the Street.

Good morning and welcome to Squawk on the Street. I'm David Faber, along with Jim Kramer. We're live from New York Stock Exchange. Carl has the morning off.

Let's give you a look at futures as we get ready to start things up here at the New York Stock Exchange a half hour from now. Begin a full trading week. As you can see, we are looking for, what do we call that, I don't know, Jim? Slightly lower open? Not much. It doesn't really matter. All right. Let's get to our roadmap this morning. The rally, pause. Records still within striking distance. Stocks are on track for what would be, well, we'll see, the first loss-en-forced sessions,

but really you can't get much anything out of those futures moves right now.

Plus, deal or no deal, the T-Mobile Sprint battle heads to court.

13 state attorneys general, led by, of course, California and New York, are seeking to block that merger.

And it is an M&A Monday.

We've got two big premium deals in biotech, Sanofi buying Synthorix and Merck set to acquire Arcpool.

I want to get to that.

Jim does too, because stock picking is so important there in terms of figuring out where those premiums

are going to end up for some of those deals stocks though overall set to uh look for a modest open

this morning this of course after friday's jobs report rally that resulted in the s&P erasing its losses

for last week trade once again in focus you heard jim talking about it on Squawk Box just moments ago.

The next round of U.S. tariffs against Chinese goods set to go into effect.

It's going to be this Sunday. So we are now counting down.

And new data shows Chinese exports to the U.S. fell 23% in November.

I don't know how much more there is to say on this, Jim, but I'll give you a chance if you want it. Look, I think that the president feels that he has the upper hand and the Chinese feel they have the upper hand, or else they wouldn't have ratchet up. Chinese by saying, listen, we want the USPCs out. Rather amazing, that's Adele and it's, you know, Eul Packard. Right. I just think, is that really the sign that you want to make a deal? I think that's right in the president's face. I think the president is feeling, wait a second, there's no goodwill on the Chinese side. It would be incredible goodwill on the president's side if he just said, listen, I'm going to hold off. But that's not where I'm hearing. It's not what you're hearing? No, it's not where to hear. To what extent, if any, does the fact that jobs continue to hum along, that the consumer does not seem to be impacted at this point by the tariffs that are in place, affect the thinking of the hardliners of the administration, and some of which I know are people that you at least have a good sense for?

Yeah, I'd say that the...

100% the president just felt the numbers were really unbelievable.

He put together a montage of people from all different networks saying that the numbers are good,

not just his... not just Fox. And I think that

he's basically saying, look, maybe the American people are really ready to take them on. I think

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