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
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
Premiers of the peoples republic of china. Pres. Trump thank you very much. We greatly appreciate your joining us at this white house event. This is a very important and remarkable occasion. Today, we take a momentous step. One that has never been taken before with china, toward a future affair and reciprocal trade, as we sign phase one of the historic trade deal between the United States and china. Together, we are righting the wrongs of the past and delivering a future of Economic Justice and security. For American Workers, farmers and families. I want to think the chinese president , who is watching as we speak. I will be going over to china in the not to double or distant future to reciprocate. , a very goodnk him friend of mine. We are representing if and countries. He is representing china. I am representing the u. S. We developed an incredible relationship. I want to thank him for his cooperation drought this complex process. Our negotiations were tough on us. Open and respect a
He is the governor of iowa. He said dont say bad about china. So i had to rip up about half of my speech, right . I said why . We do a lot of business. Etf been dealing with china for 35 years with corn and all the Different Things and he told me a story that is amazing. 35 years ago when i started, i met a man named xi. He wasnt president then. He was a young man. The governor came back and he told his wife and it is documented, i just met the future president of china and nobody thought much about it. And you know what . 28 years later, you turned out to be right, you have been an incredible ambassador and they like each other so much. When it came time to pick the important position of ambassador, i said havent you had enough of 24 years being governor of iowa . He said if you want me to do that. Thank you very much, ambassador. I appreciate it. Another great job. [applause] nobody could have done that job better. Man i could go on the opposite side of the spectrum from the governor
Impeachment with Speaker Pelosis commemorative goldembossed signing pens, the solemn march as the articles are walked over to the senate, that whole charade breathlessly covered by the trumphating media, wall to wall coverage for all of that but very little for this. The china trade deal, historic event, redefining the way trade deals are negotiated and structured. That was a big plus for america. And thursday, virtually no coverage for usmca, another trade deal that helps our economy. In fact, none of the three broadcast Networks Even mentioned it. And politicos first headline, major win for trump, that really changed fast to Senate Passes usmca, much work remains. Can you believe this . We are very glad that you are watching us. So look at this. More stock market records are acoming. Big Companies Reporting solid profits and we appear to be in a meltup mode again. The dow is up, what, 270 yesterday, closing just shy of 29,300. Any gain at the opening bell today means another record.