Good wednesday morning. Welcome to squawk alley. Carl quintanilla with Kayla Tausche at post 9, and mark santoli. Donald trump making two key cabinet nominations they morning. Lets get right to our john harwood outside trump tower with all the details. John . Reporter carl, these are two of the big ones. Steve mnunchin has been selected by donald trump to be his nominee for secretary of the treasury. He, of course, is a former Goldman Sachs partner who was the fundraising chief for Donald Trumps campaign. Also, wilbur ross, who is going to be the commerce secretary, billionaire investor, well known to viewers of cnbc, neighborhood of Donald Trumps in florida where he has his marioa lago estate 37 and he moderated the trump economic message in a few ways. Instead of talking about outright scrapping dodd frank, as donald trump did during the campaign, Steve Mnunchin talked about modifying parts of the law that discourage lending. Thats one signal. Secondly, donald trump said during the c
Been pushing the stock markets to higher levels too. Its huchl nature, but you know you cant scott, you can confirm this for me. Youre on half time report and youre our market watcher. You have a bunch of smart guys, staide traders and stuff. You cant hit new highs unless youre very close to the high. Yes. If youre 2,000 points below the old high, you cant make thats awfully difficult. Is this your insight for the dwa . No, im trytology give it to the market people that come on whenever we get close to the old highs and say this isov overdon they get used to a tlad ugh range. When it breaks out. Its probably a reason that it breaks through old highs that its got some momentum. How many times did it get close before and fail. In the last two years, but. It failed almost every time. If it did all this turning and rotations, all these if its already built a firmer, nonfed induced base, based on 4. 9 unemployment and jobs growth, weve been through the earnings recession. Maybe were startin
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