Really hasnt changed from 2019. It is about technology, Communication Services the difficult decisions im trying to make when looking at my portfolio is how do i get alphabet into the port toportfo. Do i take out apple no. Which large name do i take out. Facebook is pushing right now towards its july 2018 alltime high id like to try and get involved in that in some capacity only thing potentially i could do is in the options market. So you are fully invested, you are watching it and understanding it is a technology story, Communication Services. That was the story of 19 and the story of 20 and all the talk about rotations and value, it is mega cap, big tech, it is faang and helping this run sure is we knew the consumer electronic show would provide a boost insights in to 5g and how important that will be that is clearly one of the big drivers for even from amd to apple to marvel. All of these stocks that are basically apple is not at ces, so being clear on that, but they are a benefici
Expected to move to trial, the phase one china trade deal expected to be signed at the white house this morning top trump economic adviser larry kudlow joins us first cnbc this hour. And financials are in focus, bank of america beats for the quarter, goldman hampered by litigation charges target shares are plunging. Holiday sales miss on estimates on weakness and toys and electronics. The u. S. china phase one trade deal said to be signed this morning this is what secretary mnuchin said about the agreement earlier this morning on squawk. We need to put together very significant laws to change rules and regulations and made strong commitments to our companies there will not be forced Technology Going forward thats a big win for our technology companies, businesses and American Workers we look forward to learning more in the wake of this signing. Jim, mnuchins appearance this morning brought us something new, the notion of phase 2a, phase 2b, phase 2c, so stories evolving rapidly i think
We have a huge lineup this morning. Steven mnuchin will join us. That is at 7 45 a. M. Eastern at 8 00, well get reaction from political strategist hes been out all over the place what is there to talk about . A few things what did we say . President trump is ripping apple . Ive said all along, apple has to get on board. Switching sides no. Im not. It is not apples responsibility to keep us safe the issue is how much theyve been cooperating it does sound like the company has been pretty responsive they dont want to create an encryption key to allow any government to get any phone. They should cooperate in cases like this. I hope they are cooperating behind the scenes. I do want to see them cooperate on some of these but i can under the broader issue. The journals point is that in the meantime, apple shouldnt be seen as a public enemy no. So barr wants cooperation. Right but not just on this issue. He wants to create a larger issue. He wants to establish and create law for life that wou
Its the first time anyone ever said that to me. I said who is this guy hes the governor of iowa. He just said dont say bad about china. So i had to rip up about half of my speech. Right . I said why he said we do a lot of business. Ive been dealing with china for 35 years with corn and Different Things he told me a story that was amazing. 35 years ago when i started, i met a man named xi he wasnt president it then. He was a young man and the governor came back he told his wife, he said this is 35 years ago and its documented. He said, i just met the future president of china and nobody thought much about it you know what . 28 years later, you turned out to be right. And you have been an incredible ambassador and they like each other so much so when it came time to pick the important position of ambassador, i said havent you had enough after 24 years being governor of iowa he said if you want me to do that, and its been a great youve been a great help thank you very much, ambassador. I
The s p 500 by the way is having its best year since 2013 we do have a if you more trading days left in the year and you can still notch the best year since 97. Well see where things shake out but people are already apparently going for the egg nog. Trading was little light, as they say down here today certain lay different tone from last years Christmas Eve joining us to talk about the markets. The senior Portfolio Manager paul hickey, cofounder of the Investment Group and the Portfolio Manager. Great to see you all ill start with you. What do you make of todays Market Reaction . Yeah. Just light volume. I do think this year were in a complete market meltup. Kind of an interesting time where things can get a little bioverdone and i would be kind of cautious here and look to maybe take some profits and sell some of those names in the portfolio. It might be overvalued here. And i would understand if you think that you do get some selling once you turn the calendar over. People dont want