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Yeah, President Trump started promoting mask wearing on twitter. A major shift and the stocks have been fitted from a reopening economy are higher today and thats how the dow jones gained 160 out performing the s p 500 but trouhe nasdaq. the cramer covid19 index is out. The recovery stocks are in at least for today our country has the worst coronavirus outbreak because we turned wearing a mask into a cultural issue the president tweeted a stark black and white picture of himself wearing a maface mask wh the explanation saying many say its patriotic to wear a face mask when you cant social distance there is nobody more patriotic than me, your president. End quote. Well, kind of the only one why does it matter because President Trump is the de facto leader of the anti mask faction. Thats why he spent months refusing to wear a mask in public and framing this as an issue of per ....
He wants to work out a trade pact with the United States and has been trying to avoid a trade war but he also warned china is not afraid to retaliate when necessary. Eunice yoon joins us putting in his comments du jour. There is always something for those who think it is going to happen and then a qualifier. What do you think . That is right it is interesting that president xi jinping weighed in. This is the first time weve heard those remarks. Unfortunately, the content were not anything different from the standard government line about the trade discussions. He was speaking with a group of International Visitors including henry kissinger. His point was that china does want to have a phase one trade deal however there does need to be an understanding that u. S. And china are seen as equals and it has to be done with mutual respect. Thats what we had heard repeatedly w ....
And currencies ahead of europes close. Speaking of m a, a massive deal in tech. Why cisco bought splunk and what it might mean for more m a in that space. Topping the tape, higher for longer. Are stocks setting up for a test of the august lows . Senior markets commentator mike santoli is with us. Does feel like stocks are playing a catchup to bonds, which were ahead on the higher for longer. To a degree, yeah. Were sort of arguably in that test thats under way. The s p 500 about 0. 50 where it bottomed out in midaugust. Its also the lower quarter ep end of stocks are waiting to see if longer term treasury yields were, perhaps, topping out around those october highs. Now weave clearly broken higher. What happened with the fed yesterday, even in broad strokes, as weve been saying, not a radical change. Theyre done or near done. Any moves come slowly, theyll be careful. They did remove those potential rate cuts, however anything longer than six months is all kind of hazy on the horizon. W ....
Intensifying. New data showing that the economy slowed at a pace than originally anticipated. Nasdaq starting off at a a closing high, and 14year high. And the guidance says it is experiencing severe disruption from the winter, and gap suggest suggests gaap suggests it will fall more than expected. And on mad mad money last night, cramer talked about raising investments. And we will hear from apples tim cook. And in the first full year results are lower after discovering fraud in the subsidiary in mexico, and they go into detail, jim. This is not a minor story, and i know that when you look at the big revenues of citi you say, so what, but this is a major client with a checkered history and it is a 360 million and they say, 230 million, but 360 million pretax the. Okay. And you think it is important because you look at 360 million pretax fraud resulting in a 235 million aftertax writedown and it gets complex. It is complex. But related to transactions between penmax and vanimax who is ....
Take your pick, mr. President. Thank you four a great two hours. Squawk on the street begins right now. Congratulations to the alabama crimson tide, winners of the bcs College Football championship for a second straight year. A third time in the last four years. What a run. It good morning, welcome to squawk on the street. Im melissa lee, live from the new york Stock Exchange. Lets see how were setting up on this tuesday morning. The futures look like were tulg back here. T take a look at the picture. Interesting Economic Data points out over there. Eurozone hitting a record high. But a measure of consumer and Business Sentiment actually rose for the second straight month in the month of december. A road map this morning starts in china, where young brand said ....