Im Contessa Brewer. Hope you had a fang taktastic holiday. Lets take a look at futures were shaping up to have a slight hely lower open. Implied futures down 25 points, s p up just slightly here at one point and the nasdaq off by five taking a look at the treasuries and ten year notaes Holding Steady after rising slightly on friday were up about 2. 5 yield on the day. European markets are closed today for boxing day, but taking a look at the asian equities, the nikkei is off by 0. 2 . Shanghai risen by three quarters of a and the kospi has dropped by half a percent. As for the broader markets, oil down just slightly this morning. Wti crude is off by 0. 1 brent almost 0. 2 . And nat gas up they now expect the north sea pipeline to reopen in early january. And that is just tempering somewhat the production cuts weve seen in russia and by he opec taking a look at currencies now, and the dollar is also Holding Steady this morning. Down just slightly a tenth of a percent against the euro up
Welcome to squawk alley. Carl and jon both have this morning off. Joining us is rekicricos he ha itting manager and author of the fore nice to have everybody here. And lets do our top story this morning. It is shares of apple and a number of its suppliers are under pressure on reports of slowing demand josh lipton, what is the problem if there really is one reporter apple investors have been counting on a waiver of iphone fans all around the world upgrading to the new iphone x, but this morning new questions about the real popularity of that device. So there are reports citing taiwans Economic Daily that apple in the First Quarter is going to cut its Sales Forecast for the 10 to just 30 Million Units. Ch and that is down from the initial plan of 50 Million Units. Apple doesnt remember Quarterly Sales targets for the x which officially went on sale back in early november apple suppliers down this morning on the report. Finisar just awarded 390 million to analysts have baeen not so bulli
Mark short revealing the president plans to sit down with paul ryan and mitch mcconnellc at camp david next month. After that, roll out this big bill. I think you will see the president roll out infrastructure plan in january. And the president has already invited leader mcconnell and speaker ruane to camp david officers weekend in january to make sure what our priorities are in 2018. Not a lot of details with this one, david. But we sort of know the general themes, a trillion dollars. When you break undo the numbers the administration wants 200 billion in federal money. The other 800 billion trying to incentivize local governments to build up Public Private partnerships as well. They think they can bet democratic support with this because infrastructure is normally bipartisan. Democrats look at different prism as well. They want some, a trillion dollars in federal money. There is a bit of a gap there. When they roll this out come 2018. We well see how the politics shake out. A lot of
Micron, qualcomm, all following. These have been some of the hottest trades of the year is this the beginning of a bigger pullback or should you buy this dip dan . Its a tough one. Obviously we had microns earnings a week and a half ago they beat and got higher they were talking about nand pricing and dram this is a headwind for apples margins, theyre a big customer of apple for me, you have to think about this apple announcement, we see this every quarter whether its hush hush, whisper whisper, theyre not going to have the builds they did on this high end phone thats going to possibly affect their asps. Last quarter expectations were not particularly high because people knew the iphone x would be pushed out later into the calendar q4 and all of a sudden they gave this massive guide for units in this quarter, 85 million. I think at the end of the day you have a stock trading at 170, i think back then it was 160 if they were to come in line and guide, you know, down a little bit, i dont
Release its infrasphruk chur proposal. Its a plan which already has bipartisan support. Former Reagan White House political director ed rollings will be joining us and another promise kept, the Trump Administration negotiating budget cuts for the United Nations after the International Body voted to condemn President Trumps recognition of jerusalem as i reals capital. Ambassador john bolton will be with us in moments. Again with the top story, the president taking on the corrupt fbi leadership over its use of the discredited dossier which was meant to smear donald trump during the 2016 campaign. And the president appears to be winning on that. President trump tweeting this morning that the dossier has proven to be quote, a pile of garbage after the Washington Times reported that fbi agents could not verify any of the many outrageous and salacious details in the document backed by the way and funded by democrats and the hill clinton campaign. The deputy fbi director, at the center of the