Good monday morning. Welcome to squawk alley. Were at post 9 this morning jon fortt is off this week also joining us on the phone today from morgantown, west virginia, is kara swisher. Good to have you with us this morning. Busy day this morning merks ceo stepping down from the president S Manufacturing council. Weve been looking at that story. Good morning. Heres a statement from ken frasier of merck our country strength stems from the diverse contributions made by men and women of different faiths, race, sexual orientations and political beliefs. As a matter of pefrnl conscious, i feel a responsibility to take a stand against intolerance and extremism. That resignation by ken frasier of merck did not go well with the president who put out a tweet shortly thereafter, really within the hour saying that now that ken frasier of merck resigned from the manufacturing ago council, hell have more time to lower ripoff drug prices so the president going on the offense here against ken frasier
It. That was the volatility, massive ramp in the vicks, everybody worried. Back to thursday in the afternoon there was a guy i was watching, he was on between like 12 00 and 1 00, and he read a letter from 2010, oh, no, its a recent letter. I heard you this morning howard is great bonds there was a moment where someone asked about a Semiconductor Stock and he said thats not what i do. I went back and googled howard marks year 2010. Up comes his may letter. Look, i respect that man and i would never do anything against what he is the king of, but the problem is that when you make that kind of broad statement theres a lot of people who do freak out because hes obviously a really smart guy we freaked out when the guy from ball post says its time to go we freak out when Stan Druckenmiller says it. This is why you sold netflix at 30 this is why people sold facebook at 350 this is why they got out of apple. If you listen to yourself, you may not sell these stocks, but if you listen to people
Statement he made midday today which well talk about. Meantime, how about stocks. The s p could see its third 1 gain this year just in that territory right now. Just under well tell you whats behind the move higher and see whether we can hold the gains were drifting down a little bit in the final hour here. And this should be very interesting. After the bell, james damore, the engineer fired from google because of his internal memo on diversity. Hell be talking to kelly oneonone to give his side of the story. Looking forward to that an hour from now. He hasnt been shy about it so far. Right. Let begin at the white house where President Trump is about to address chinas trade practices. Onlion javers eamon javers is standing by. Reporter should see that live on camera in a couple of moments. The president will sign a document which directs the u. S. Trade representative to determine whether or not to investigate any china laws or policies that may be unreasonable or discriminatory relate
Good morning welcome to Worldwide Exchange on cnbc. Im sara eisen im wilfred frost good morning to you from me as well u. S. Futures pointing higher on wall street as tensions ease on the north Korean Peninsula. Up 40 points on the dow. First breaking news overnight. Two more Corporate Leaders are stepping down from President Trumps American Manufacturing council. The ceos of intel and under armour announcing their departures the rez zig anything that signae wake of President Trumps handling of a White National rally over the weekend Brian Krzanich released a blog post saying i resigned from the council to call attention to the serious harm our divided Political Climate is causing to critical issues. Crzanich and plank join the ceo of merck who resigned yesterday. These are big statements, coming 12 hours after frazier decided to step down after the response to charlottesville. Clearly ceos are struggling to figure out the best course of action here. They dont like to be involved in po
Barrel, 47. 53 home depot is just out with Earnings Results are good 2. 25 a share see how the stock reacts 3 cents above revenue. Comparablestore sales, an important metric to watch, up 6. 3 the consensus was for under 5, 4. 9 so thats a significant outperformance home depot raised sales and Earnings Guidance for the fullyear. As you can see, its been a grade p great performer. If we went back any period, two, five, ten years. Very close today well see if it will trade at a new high its last earnings report, it jumped about 11 on the stronger than expected earnings, and has been flat after amazon and sears announced that deal to sell ken mother applian kenmore appliances on amazon. North koreas leader has delayed a decision on firing missiles towards guam. The country state media said kim jongun will wait to see what the United States does next. The leader made his first public appearance in about two weeks inspecting military assets and reviewing plans to fire missil s s near guam. B