Expected to move to trial, the phase one china trade deal expected to be signed at the white house this morning top trump economic adviser larry kudlow joins us first cnbc this hour. And financials are in focus, bank of america beats for the quarter, goldman hampered by litigation charges target shares are plunging. Holiday sales miss on estimates on weakness and toys and electronics. The u. S. china phase one trade deal said to be signed this morning this is what secretary mnuchin said about the agreement earlier this morning on squawk. We need to put together very significant laws to change rules and regulations and made strong commitments to our companies there will not be forced Technology Going forward thats a big win for our technology companies, businesses and American Workers we look forward to learning more in the wake of this signing. Jim, mnuchins appearance this morning brought us something new, the notion of phase 2a, phase 2b, phase 2c, so stories evolving rapidly i think
Others have used overtime to place this in time to emphasize the importance of time. Everything is about time. How we use it and how we mark it and today is an important day because today is the day that we named the managers and well go to the floor to pass the resolution to transmit the articles of impeachment to the senate and later in the day when we have our as i have said it is always been our founders when they started of the course of events that becomes necessary when. Abraham lincoln seven years ago and thomas paine, the times of the founders. Again and again and our poets, long fellows, listen to my children and you will hear the midnight cry, paul revere. Always about marking history, using time. On december 18th, the house of representatives impeached the president of the United States. An impeachment thatll last forever. Since december 18th, there has been comments about what are we going to send the articles over . Well, we had hoped that the it would be extended and we
To come and we didnt make it come because we said were going to wait until after christmas to send this over they would like to have had assented over on Christmas Eve so they could dismiss that perhaps they dont realize the dismissal is cover up but that has been one of their trains of thought dismissal this cover up i was so disappointed the other week the other day last friday thursday when the leader of the United States Senate Rather than stressing the institution in which he serves and then they came subservient and said and signed on to a resolution that would dismiss charges dismissed dismissal is cover up and so in the course of the time since weve passed the resolution and not because of the time on december we passed it on december 18th on december 20th. New emails show that 91 minutes after trumps phone call with your current president a top of office of management budget aid as department of defense to hold off on sending military to you crane on december 29th revelations
That statement. Iranian leaders, they have made statements. They have largely avoided the bellicose language we have seen in the past. Overnight, leader ali khamenei says it was a slap in the face to america. They say they do not seek escalation or war. Obvious question this morning, was the attack deliberately proportionate, a oneoff that makes a point but doesnt risk a devastating american response . Can the iranians risk taking action that results in allout war . Their economy is collapsing. They are out of cash. What will the president say this morning and how will he say it . Escalation . A threatening tone . We will find out soon. Now look at this. Yet again, the market is largely shrugging off an attack in the middle east, in the middle of the oil patch, no less. When the news broke, futures showed a near 400point drop but look at it now. Down maybe 20 for the dow and all of that loss accounted for by just two dow stocks which we will mention momentarily. The s p is going to go
29,297 the close on the dow. Economists are blaming big slowdown on trade pressure and tariffs, what do you say, john . There you go, this is as expected, china was much more vulnerable to imposition of trade war and u. S. Economy, china has a very strong incentive as ambitious as it might be. Dagen one thing i will point out that we have a record in the stock market here in the United States, in the meantime the democrats are trying to remove President Trump from office, we will get to that in a second but there are good numbers coming out of china, the index jump today highest level since 2015, this is probably a better leading indicater than Economic Growth, the wall street journal writes also about this, the price of copper is up more than 7 in the past 2 months, again, industrial metal used around the globe, another bellwether for Global Health and surveys of purchasing managers in the euro zone have shown continued weakness, new export orders have been going up, the market is tel