Bob iger will continue to direct creative endeavors. And conversations from tech regulation to politics. We begin with the coronavirus and the outbreak spreading beyond china. The firstted states, known case of unknown origin was reported in california. The state is monitoring thousands for signs of exposure. President has tapped mike pence the task of overseeing the u. S. Response. Trump spoke from the white house wednesday. Done,ause of all we have the risk to the American People remains low. We are ready to adapt and do whatever we have to. This is like a flu. I think the stock market will recover. Emily but the markets were not all fine, with markets pinned to the virus threats. The s p 500 and dow jones suffered big losses this week. As for the tech sector and supply chains, microsoft and apple sounded the alarm. I caught up with dan ives thursday. Tragedy, butjor view is that we have to look at if this impacts demand or changes dynamics for our winners. When i look at names like
A lot of red on that board. These are modest moves. Market turmoil. Someone tweeted me that. Futures arent up a half percentage point pull out the market turmoil boards several headlines out of beijing overnight. Chinas exports rose imports are higher than expected chinas trade delegation arrived. We are learning more about the purchased targets that china would agree to at the phase one trade deal signing telling us china will commit to increase purchases from 32 billion over two years china will also pledge to buy an additional 80 billion 53 billion in Energy Supplies and 35 billion of u. S. Services over a twoyear period but will only only cost them half as much they are no longer a currency. You missed the other piece of information. They are allowed to no longer a currency manipulator. They arent going to do that was there a quid pro quo there has to be not a coincidence. Treasury secretary Steven Mnuchin said yesterday, china has made enforceable commitments to refrain from the c
Good monday morning. Welcome to squawk alley. I i am Carl Quintanilla with Morgan Brennan and jon fortt senator Majority Leader Mitch Mcconnell is going to talk trade, usmca and more. A big hour ahead. First we begin with ipos, and performances for recent debuts after a hot start to the year, we close out the last trading day of the quarter uber and lyft down more than 30 , slack down almost 40. And this morning, wework officially pulling its own ipo cnbc contributor, New York Times columnist kara swisher joins us holy canoli has it been a rough quarter for ipos how do you see it, as a resetting or private market valuations coming back to earth . I see it as math. Math wins. Thats what professor gallaway was talking about when we talked about wework and other ipos. I think investors, there was a fire wall broken by wework, untenable for most investors, and it extended to other companies which have Balance Sheets that are problematic. Even if theyre great businesses and brands, theyve g
Stock. Its our call of the day the Investment Committee is ready to go. Halftime report starts right now. Welcome. Good to have you with us on this thursday our Investment Committee at the table. Josh brown, steve weiss and director of market strategy. Well begin with the selloff stocks rebounded and down again. Another volatile session all three major averages were down half a per at the lows. You have your special suit on today. You get the ball first s p coming off backtoback declines and today you got what you didnt want. A read on the Services Sector which suggests that were slowing there, too well, it was telegraph 48 hours ago when you saw the Employment Index and warranted at the time to give consideration of the strength to not only domestic economy but the Global Economy being the u. S. Consumer and were they in a position where they weto weaken. As it relates to the market, absolutely the selloff is warranted if youre going to see the consumer weaken i think it also gives yo
Globally and the prospect of her weakness overseas coming a drag on the us economy. Doesnt work that way . It certainly does. At the world is catching the ammonia, at best we are going to catch the sniffles if something not a little bit worse. The fact remains gdp growth will still be positive next year, probably in the ballpark of 1. 3 or 1. 4 . Assuming we get a trade deal i think youll see acceleration earnings to mid single digits. A lot of Business Owners we talked to say their decisions have been put on hold until he understand where the goal posts are, which keep on moving. Once a understand exactly what theyre dealing with with respect to trade, i think they loosen their purse strings. I think we can extend the Economic Cycle longer. What you make about the dollar move today, we saw treasury selling, we saw stock trailing, risk and day. But really substantial gains for the bloomberg dollar index. Its pretty weird. If you look at s p 500, biggest game biggest gain since march. I