He will be traveling to washington hell be here a couple of days saying negotiating teams from both sides remain in close communication. President trump saying hes going to later travel to beijing to begin talks on the next phase. I think well talk to eunice we never know until we know. The last thing we heard from eunice was, you know, the president says there is a signing next week but havent heard anything from the chinese side she did point out that it was good for the chinese to have this happening now ahead of the Lunar New Year too my point is that they would never say anything and deliberately stay and let us conjecture it is always bad they never signed off on this the day before the market pulled back a little after someone said something that the chinese are uncomfortable with something until we hear right from the Commerce Ministry. Just a lot of times sitting there, what they looked like. They are more reserved and are tweeting about this stuff. Anyway, looking good. Hope springs eternal maybe it wont just got to wait until it happens. Lets move on. You cant say it anymore. Expressions that were once expressions. Full figured person, you might say. The dow now within striking distance of record highs global Asset Allocation and here on set covering the economic angel, head of u. S. Economics research at barclays im going to go to you first. Just thinking about you know, there was a view, even just 48 hours ago that we were on the verge of something terrible. Then we have the china deal that may now happen is this smooth sailing ahead i think so. I think 2020 is going to be a decent year, not as great as 2019 but that is a hard year to top. Generally, the question always is around these headlines is it systemic to the markets. Maybe not so much to the world at large but to the fundamentals to the market and what is the mechanism to this headline from the market it would have to be sharply Rising Oil Prices and that is not so far happening maybe the market ran up a little bit towards the end of the year. It went up and maybe some traders are repositioning. Beyond that. I dont think it is really going to drive the markets what is going to drive the market is earnings rallying the anticipation of the earnings rebound pe up 30 . The opposite of 2018 so now in 2020, Earnings Growth has to come through for the market to be justified in its rally leading up to this year. From where im sitting, it looks like i should be able to achieve 8 Earnings Growth and 2 dividends. Maybe a little bit of a multiple expression that is my base case for 2020. Before we get to you, michael. Explain the compression issue in your mind. So the market takes turns if you have very bearish people on your show, theyll say 2019 was a sugar market earnings are up 1 how could that be sustainable. The issue is that the pe and the e take turns at inflection points earnings were up 22 and down 28 . When you look at the two years together 18 and 19, earnings were up 23 . S p up 26 when you add in the dividends, basically, the market did what earnings did. There is nothing to see. Now that the market ramped up, that is in anticipationof the global rebound of some sort. Thats why now the market has to grow to that valuation usually as the earnings pick up, which i expect to happen in 2020, the pe takes a backseat. Not a meaningful amount but maybe a point in 2020. You want to disagree with him . No. That is very much in line with what we are thinking unless you get conflict that disrupts oil prices and gets to the point quickly, level and speed, that will be kind of what disrupts the expectation we agree with that trendlike growth, modest growth in equity markets. Given the different composesition of what we are seeing today the joongoing tension that doest really disrupt oil maybe oil is a little higher maybe you could argue it is a net positive for brother in the u. S. Does jay powell sit on his hands the entire year . We think, yes it is clear they want to could we get byron in here, he tends to see surprises. He thinks at some point, theyll end up moving. Which direction he thinks lower bunch of crazy stuff. Yes there are ways in which you can get that for sure. The point of his surprise is that they are surprises. Things that dont really happen they do thats when it is a big surprise go ahead. Theyve cut 75 basis points already to protect the economy from various head winds. We are potentially getting one now. The growth has to be very soft there has to be a lot of noise we have the gm automotive strike, which well get some pay back from. Boeing will be an ongoing issue. The fed will have to be looking through some of these noises to ascertain, oh, growth has fallen off more i think the hurdle will be quite high michael, thank you. Nice to see you. Thank you. A dramatic 24 hours for the man who is now an International Fugitive he broke his silence and defended his decision to leave japan. Viewe viewers watched much of this yesterday. Michelle carusocabrera was there. He had a lot to get off his chest. There was something left for you that he needed to talk to you about too, which is awesome. Reporter yes it was helpful to drill into a little detail and to be able to ask follow ups carlos ghosn is likely never to face trial in japan but he is trying to clear his name in the court of public opinion. He didnt face accusations just in japan but also in the United States this is an sec complaint settled in september which they claimed he and nissan was trying to hide he was going to receive an extra 140 million in compensation in his retirement i asked him directly were you trying to defer this money into retirement no. I was not deferring anything when you defer, it means you acquired something i didnt acquire anything. The fact that we have an agreement with the sec is no admit or denial. They signed it it just means on the side of japan. You cannot open two sides at the same time. It is too much they didnt require anything socalled deferred compensation was not signed by the board or any director it was kind of a memo ive done to myself with the help of somebody to keep track of the difference between my compensation as the ceo of nissan and the average ceo of a Similar Company followed by where we have the report about Co Compensation tha thats it. We are saying it was not fixed or decided it was not paid. There is no reason for the whole thing. I can tell you and again, i shouldnt talk about the case in the United States. I committed no denial and no acceptance when i read it, it sounds like the reason you couldnt get the money is because you hadnt retired yet. You werent supposed to get it until after. After you retire, the person deciding on compensation is on the board and you are not part of the board how can you say if it is decided if the people that have to pronounce on this compensation are unknown. As you retire, you dont know who is managing the company, what kind of decision has been made how can you report a compensation which has not been defined because we dont know exactly what is the amount, has not been decided because the people who will decide will come in years to come it hasnt been paid. It doesnt make sense. If people were to Pay Attention to the reports, they could leave with the impression that over time, whether on purpose or poor bookkeeping, there was commingling of your personal with Corporate Finances where there . Everything is built in order to help you think that nissan has built a very good case with the help of other people who are specialists of these kind of things they built an image. They attacked through legal and they attacked through the media. It was very well done. A lot of people think this guy is shady hes doing all of the things, et cetera while i was in prison, i couldnt defend myself everything was done for me not to be able to talk when i wanted to make a press conference in tokyo, they came back with the charges immediately. We also spoke about the incredible and daring escape out of japan well carry that part of the interview for you guys in the next hour. Michelle, sitting there, what did you think of his responses to your question about the charges . Is there something in the middle between being absolutely innocent, absolutely guilty and what you were able to deuce . What is your gut feeling when you read the whole complaint, the narrative that the sec or the prosecutors paints is that they really wanted to pay him more money they couldnt figure out a way to avoid disclosure, they decided he wasnt going to get any. Whenever you read a complaint, you think that person is guilty. Thats the nature of a complaint. Second, if they decided he was never going to get the money, does japan really want to keep him under house arrest more than a year on an issue like that it seems extreme there is certainly a local cultural constraint in japan for paying ceos a lot of money yet these Companies Compete internationally for top talent you can see what do you do you can see some kind of rational to try to make up for that compensation in some way. Maybe you construct houses, maybe other perks in order to compensate them because you are worried about losing them in what is now very much the International Global market. Thank you, michelle he talked about becoming the gener ceo of General Motors. And he wished he had taken that job. He didnt answer michelles pointed question about the commingling. She asked the right questions. You can see more of that interview right now at cnbc. Com. Coming up when we return, new details on the crash of the boeing 737800 that took place in iran yesterday. Well tell you what irans officials said overnight about all of it. Squawk returns with more after this dont get mad. Get e trade, dawg. Some things are too important to do yourself. Get customized security with 24 7 monitoring from xfinity home. Awarded the best professionally installed system by cnet. Simple. Easy. Awesome. Call, click or visit a store today. An update on the boeing 737800 that crashed yesterday saying witnesses reported seeing the plane on fire immediately before the crash he said no radio messages were received by the pilot regarding unusual circumstances. The head of iran agency said black box recorders had been handed over to the investigator and initial information had been passed on to ukraine, u. S. , sweden and canada. It is unclear whether those will be analyzed by another country at this point. President trump pulling back from further military action after irans missile strike on bases that housed u. S. Troops caused no casualties he told iran he would further tighten sanctions. Here is what he said in recent days, he was planning new attacks on american targets but we stopped him soleimanis hands were drenched in both american and iranian blood. He should have been terminated long ago yesterday, cabinet secretaries and officials held briefings for all 535 members of Congress Views mixed. Democrats criticized the briefing and justification for the strikes. Other officials praised the president for the decision to strike one of two republicans who had a different view the briefing lasted 75 minutes where opinion the briefers left. This is not my biggest problem, which i would add was probably the worst briefing i have seen on a military issue in the nine years i have served in the United States senate what i found so distressing is that one of the messages we received from the briefers was do not debate, do not discuss the issue of the appropriateness of further military intervention against iran if you do, youll be emboldening iran House Speaker pelosi said the house will vote today on a war power resolution which would limit the president s ability to take action on iran. I saw last night on bret bares show. It was like night and day. Pointed out that mike lee and rand paul, there are republicans saying one thing and those two guys are completely different. Very libertarian i wouldnt even say there on the left im saying they are in their own group on the right in a group of two you said left im not saying left they are very libertarian we know rand paul tom cotton, we all wish we had his military record. Hes pretty admirable. Every president since 2001 has been operating under that agreement. It has been 19 years thats why libertarians are innocenced they think there needs to be another vote on it and with the information about exactly what was going on the week prior there is still a question mark probably doesnt mart the senate needs four senators to turn. There is only two. You need a clear evidence there is something imminent coming or that his actions warrant the action in and of itself right i agree with that except for one incident if you are going to say publicly, you are going to say what the imminent thing is you have also made the argument which is that this is just a bad guy, we have to get rid of him if you show the argument of something imminent, you have to show what that was it is unclear. He had finished casing the embassy to determine the vulnerabilities. The embassy is u. S. Territory. The attack right there is enough what do you think hes there planning a Christmas Party there . Hes still there in baghdad planning Something Else. Have the president of the administration articulate that im not telling you all our cia intelligence youd be the last person since you are part of the administration, i understand that well tell you about a new app that answers the robo calls and annoys the spamers thats next. We made usaa insurance for members like kate. A former army medic, made of the flexibility to handle whatever monday has in store and tackle four things at once. So when her car got hit, she didnt worry. She simply filed a claim on her usaa app and said. I got this. Usaa insurance is made the way kate needs it easy. She can even pick her payment plan so its easy on her budget and her life. Usaa. What youre made of, were made for. Usaa now you can, with shipsticks. Com no more lugging your clubs through the airport or risk having your clubs lost or damaged by the airlines. Sending your own clubs ahead with shipsticks. Com makes it fast easy to get to your golf destination. With just a few clicks or a phone call, well pick up and deliver your clubs ontime, guaranteed, for as low as 39. 99. Shipsticks. Com saves you time and money. Make it simple. Make it ship sticks. In 2019, americans received an estimated 58 billion robo calls. Thats an average of 178 calls per person according to robo killer an app that answers the calls and messes with the caller on the other end. A new legislation that could curb the problem, Senior Vice President at Growth Strategy at robo killer. You may be our most welcomed guest today. Everybody hates these calls. They do they are disrupting our lives and some of them really hurt people how does your app work . Is. You download from google play or Apple App Store install it and youll be protected from millions of unwanted calls what if someone calls me i dont have in my contact list i need to talk to. Our algorithm is determining which calls are wanted versus unwanted so there is a difference . Okay. I group them all together. I feel like messing with them myself you do. I do. I pick up the phone, it says please hold. They tell me to hold and i know whats coming. I do because i want to mess with him. Most of these calls are illegal. They lie through their teeth this is your electric company, this is your credit card company, which is isnt, ive been monitoring your action, your card, your warranty there are a lot of examiners out there. The irs the economics are so lopsided youve probably gotten calls in chinese. They know 1 of the population speaks chinese if they make 100 calls, one person will answer if this technology works, how come the phone companies havent bought this. I know more people who have ripped out the hard lines because they are so sick of this dont you get them on the cell phone yef but dont the phone companies have more of a complaint on this it is a complex problem to solve. Tracers are trying to help combat and put the ownness on carriers to do more. Ca carriers do get paid to connect calls. I would imagine they would love to put an end to these. Why doesnt everybody have one of these apps . People havent figured out these exist. Our app once you put it on your phone will stop these calls. Our answer bots Start Talking about. What is the economics to you . We are a subscription model we have a free trial try it, make sure it works what is the monthly fee 3. 99 a month can i listen to your app. You can i can absolutely. We have a spasm box where you can listen back and hear our answer bots talking about and wasting their time you can create your own. Do you do that part just for fun . It is definitely fun and entertaining you can use imperson nators or create your own. Why arent you just hanging up when we talk to them, we are wasting time that is time where they cant hurt someone else. They cant reach into your wallet and steel your money or identity the purpose of keeping them on the line for you is that . Absolutely. We want to waist spamers time dont you want to feel good about getting them back . Just the economics. You are saying in a clean way do it where you are not actually wasting time why not give it back to them feel good about that sorkin. Let yourself go. Im a capitolist. Im trying to understand the market for consumers it is great talking back to them and getting revenge. It feels good. But people need to be careful. Their whole point is to reach into your market and steel your money. If you talk to them, the person on the other side their job is to try to figure out how to separate you from your money how do we feel about them the people on the other end . We shouldnt not have a lot of pity. If you are trying to reach into someones pocket and stealing money. That is different from telemarketers are annoying you might get a movie made about you. Maybe there is a reason. Thank you for coming in china confirming the vice premier will visit washington for the phase one signing next week a live report from beijing next. A look at yesterdays s p 500 winners and losers through the at t network, edgetoedge intelligence gives you the power to see every corner of your growing business. From using feedback to innovate. To introducing products faster. To managin