. >> for "nightly business report," i'm joe kernen in das, switzerland. >>> and back here in the u.s., the chair of the white house council ofconomicdvisers repeated a forecast we've heard before, namely that the u.s. could be zero in the enrst quarter if the government does not re soon. during an interview, kevin hasset added that second quarter growth could be humongous to use his term if the government opens before then. somewhere between 4% and 5%. first quarter growth does tend to be notably weaker than other quarters in the year. the partial shutdown is now in its 33rd day. >>> it is time to take a look at some of today's upgrades and dow component walmart was upgraded to overweight from equal weight at morgan stanley. the analyst says walmart's u.s. operions can generate sales growth without sacrificing margins. the price target is $110. walmart shares r to $98.71.n 1% >>> pfizer was odowngraded neutral from buy at ubs. the analyst cites the pendi loss of patent protection on some drugs. the price target is $46. the shares fell a fraction to $42.16. >>>nd fellow dow component m

but it's from the '80s i'm joe kernen -- might even be late '70s.t getting up to speed on this, "the graduate. come on. >> i rewatched "fast and furious 7" the other day. >> that's okay that's universal watch that as many times as you want the futures right now are indicated down about 70 points down 36 on the nasdaq. indicated down ten right now on the s&p. treasury yields have creeped back up above 2.70%. we're at 2.71% on the 10-year in this country anyway. >>> and in this country, the government shutdown about to hit a sobering record. ylan mui joins us with more. >> the shutdown is now tied for the longest in history and it is all but set to hit a new record. the administration is going all in on this fight pounding in on the crisis at the border the president meeting today on border security. and this comes after he toured a patrol station in texas yesterday and held a round table on immigration >> it's all common sense and nancy and chuck know that. look, they're not winning this argument they're losing they know it it's not about an argument

i'm joe kernen along with becky quick and mike santoli andrew is off.o something with that. you know, it's a better ball >> they improved it. they put more crystals with it >> i know. but it's fine. >> it's called keeping up with the joneses. did you see every other celebration around the world they go all out. >> it's a branding opportunity really what that show is is branding >> waterford crystals. >> we have an early market selloff happening at this hour sea of red across the globe like the same way that new year's develops over in asia to europe dropping sharply most places this morning oil also under pressure. prices tumbling on economic slowdown worries almost a percentage loss in wti. and u.s. equity futures, 370 that's where we've seen them on the dow this morning the s&p down 38. nasdaq down about 150. >>> some weak china data also dragging markets lower a private sector survey showing that the manufacturing data contradicted f ee eed -- contrad 3. >> good morning. it's a new year but really more of the same when it comes to market moves it fee

i'm becky quick with joe kernen and andrew ross sorkin after three days in a row of gains and yesterdayts, dow is indicated up about 53 points s&p futures up about four points here's what's making head lines this morning a short time ago, $1.96 per share beating the estimate of $6.46 billion was below estimates. fundamentals of low unemployment, higher wages and low inventory levels remain favorable for the company. also jcpenney says same store sales during the holiday season fell 3.5%. it said it would close three stores this spring but they did reaffirm guidance for positive cash flow and inventory. we'll see whether that's going to be enough that stock up 1.5% this morning. then a tokyo court has now rejected carlos ghosn's request to end his detention ghosn appeared in court yesterday proclaiming his innocence. >>> a few stocks to watch this morning. bank of america upgraded by ubs. saying the share price offers and attractive entry point and keurig dr pepper getting an upgrade. saying it's a quality defensive name in consumer staples with high earnings visibility and improving mar

i'm becky quick along with joe kernen and mike santoli. andrew is off this week.e have big news out of china this morning the futures this morning, you can see the dow is indicated up by 290 points. this comes after decline of 660 points yesterday that was down by 2.8%. the s&p was down by close to 2.5% then it was the nasdaq that got hit hard it was down by 202 points, a decline of 3%. worst daily performance since december 7th of last year, when it was down by just more than that the nasdaq is bouncing back this morning. the news out of china, the united states and china will hold trade talks in beijing. on january 7th and 8th china's commerce ministry making thatnnouncement today. and over an hour ago, the pboc saying they will cut reserve requirements by 100 basis points as the government looks to counter risks of a sharper slowdown yesterday we spoke with michelle caruso-cabrera who talked about the shadow banking the crackdown there and the impact that's been having. this may be one way to get some liquidity back in the market >> the peoples bank of china tr

squawk box" here on cnbc live from the nasdaq market site in times square i'm becky quick along with joe kernenike santoli. andrew is off today. our top story is the global market selloff futures this morning pointing to a sharply lower open so happy new year, clean slate, here we go again dow futures are indicated down by over 400 points s&p futures down by 42 points. the nasdaq is down by 161 points the big catalyst overnight, weak economic data out of china a private survey on the manufacturing sector showing factory activity contracted in december that's the first time that's happened in 19 months. the downturn in china comes amid the u.s./china trade fight th

i'm becky quick along with joe kernen and mike santoli. andrew is off today.are down sharply after the drop in apple shares and that warning about what's been happening in terms of sales and revenue there. dow futures indicated down by 370 points yesterday the futures made a stunning recovery from these levels they ended the session in positive territory though. that's the biggest advance you've seen on the first trading day of the

i'm becky quick along with joe kernen and mike santoli. andrew is off this week. big news out of china this morning the futures this morning, you can see the dow is indicated up by 290 points. this comes after decline of 66

i'm becky quick along with joe kernen and andrew ross sorkin. let's check out the u.s.w that things are in the red dow futures indicated down by 150 points s&p off by 19 and nasdaq down by 53 this comes after a very steep increase that we've seen for the markets across the board in fact, u.s. stocks are on their swiftest rebound in nearly a decade since the lows on christmas eve the dow jones industrial average and the s&p have built up more than 9.5%. that's the best ten day performance since july of 2009 s&p up

of those abc pants and one pair of the shorts, because they are so comfortable, casual pants >> joe kernen i think one of the first to talk about how great these pants are. i'm surprised you haven't -- cindy, if you're watching, this is bill's birthday present >> they look like dress pants. >> the at leisure business is a mature busy. because it's a mature business now, it's going to be subject to the vagaries and whims of a very fickle public out there. styles and fashions come and go. they're hot right now, but -- >> even if it's on the back of the men's category, you have to continue executing >> totally >> i would say our head of communications sere at cnbc, mr. brian steele who i'll shout out right now owns, like ten pair of these pants that lulu has. i'm just saying. >> good for you, brian >> the average price for a gallon after gasoline is dropping >> why is everybody looking at me >> i think you have a panel of frugal people here i know we're all thrilled. >> we all drive to work. >> it's a good thing i know you worry about the producers when the price goes down and the debt levels

we are live from the nasdaq markets in times square and it's friday i'm becky quick along with joe kernenst host for the next two hours is steve grasso, director of institutional sales at stewart frankel, also an cnbc market analyst >> thanks. >> let's check out what's happening with the futures the dow is down by 25 points below fair value s&p futures down 5 1/2 nasdaq off by 19 yesterday we did see gains once again for the markets with the dow, the s&p, the nasdaq, the roussel 2000, dow transports, all up for their 5th sessi i

i'm becky quick along with joe kernen and andrew ross sorkin.oking at the dow futures down about 14 points s&p futures off just fractionally and the nasdaq is up about two points >>> got a lot of headlines to tell you about this morning. bank of america's earnings just 70 cents per share -- i shouldn't say just 70 cents. also above forecasts with revenue. you're looking at that stock up about 4% already in the premarket after that announcement >>> shares of united continental also jumping this morning. adding capacity during the quarter and expanded its customer base. you're looking at that stock up over 6% this morning and ceo oscar munoz is going to join us to discuss the quarter at 8:00 a.m. eastern time in a cnbc exclusive interview then there is the news about sears this morning eddie lampert has won the bidding auction. his rescue plan would keep roughly 400 sears stores open. the bid beat out an offer from abacus investment group. so the good news is he's saving the stores the bad news is to some degree he had a decade and put it in this

. >> good morning and welcome back to "squawk box" here on cnbc i'm joe kernen along with becky quickross sorkin u.s. equity futures are up triple digits at this point. 105 on the dow the nasdaq up ten -- i'm sorry the s&p up ten the nasdaq up almost 58. a lot of the moves, the green you see there is apple, obviously. it's in all three of those definitely giving some strength to the dow if it's up 6.5%, that's almost half the dow's gains. not quite. >>> let's tell you about some other headlines at this hour apple shares are moving higher in the premarket trading apple reporting profit of $4.18 a share. that was a penny better than the street was expecting revenue also beating forecasts iphone sales did slow down, but ceo tim cook made upbeat comments about apple's services business and after all of the concerns that have been built into this stock over the last month, you can see that stock picking up by about 5.5% a gain of more than $8.50 this morning. >>> we are a little over an hour away from adp's january report on payrolls. economists expecting 180,000 new private sector jobs fo

i'm joe kernen along with melissa lee and mike santoli andrew and becky are off the futures are downt dow component along with boeing got us down about 175 now on the dow the nasdaq indicated down 42 the s&p down 14. big week for earnings. the heaviest week that we will have, i think, a quarter of the s&p, a third of the dow will all come in the coming days. treasury yields right now 10-year 2.76%. >> our big earnings report of the morning comes from cot pillar $2.55 a share versus expectations of $2.99. revenues did beat expectations coming in at $14.3 billion looking ahead, cat sees 2019 results in the range of $11.75 to $12.75 a share. stock falling following those numbers. the guidance for 2019 does skew it below the prevailing consensus of about $12.73. >> yeah. basically the estimate wrs at the top end of the range it'll be interesting to see if cat giving any color also on the cadence of the quarter whether there was a turn towards the end which would be more hopeful or whether or not whatever they saw is persisting in that conference call starting at 11:00 the first quarter c

>>> welcome back to "squawk box" here on cnbc i'm andrew ross sorkin along with becky quick and joe kernenures at this hour. about 131 points higher right about now. nasdaq would open 32 points higher want to get over to joe who's looking at those comcast earnin earnings >> and you can see it on the screen comcast just out with numbers. the nbc universal, cnbc parent earning 64 cents a share in the fourth quarter that was 2 cents above expectations revenue was also above street forecast the company also announced a 10% dividend increase. cable customer relationships increased by a net 285,000 during the quarter with internet net additions amounting to 351,000. comcast also closed the acquisition of europe's sky during the quarter adding 164,000 customers from that transaction. and so far you can see the company is rebounding from a pretty sharp drop yesterday. up 1 1/3%. >> you look through the numbers, they beat the expectations on most metrics looking atted adjusted earningsr share. when you're looking at ebitda for all of those same consolidated and sky it's interesting to note if you l

i'm becky quick along with joe kernen and andrew ross sorkin.mber, it was big-day gains on friday after what we heard from the fed and that stronger than expected jobs report. dow futures indicated down about 15 points. s&p futures off about 4.5 points and the nasdaq off by 20 >>> here's what's making headlines this hour. officials from beijing and washington, they are meeting in china today in an attempt to hash out the ongoing trade dispute. china's foreign ministry says both sides have expressed a willingness to work together talks are to conclude tomorrow we'll also hear from wilbur ross at the top of the 8:00 a.m. hour also elon musk breaking ground today on tesla's first factory outside of the united states it is located on the outskirts of shanghai. company expects to produce vehicles in china and it will reduce costs musk tweeted affordable cars must be made on same continent as customers >>> and apollo global in talks to buy general electric's aircraft leasing unit. that's according to people familiar with the matter as a result of that

live from the world economic forum in davos, i'm joe kernen along with becky quick and andrew ross sorkine see a little bit of a pullback down triple digits. 138 points or so on the dow right now. treasury yields, like watching paint grow, really, recently to 2.70% and change. is that like a rocket surgeon? i love mixed metaphors always have. 2.75% right now. >> okay. >>> we're going to get to our first guest of the hour. hedge funds facing a slew of head winds to close out 2018 but defying the market with a 4.6% gain bridgewater founder and co-chairman ray dalio. we're thrilled to see you this morning. despite the sun, there is a lot of hand wringing going on here in davos you apparently were doing a little bit of hand wringing about what may or may not happen in the years to come i just saw some of your comments but i wanted to ask you, i think maybe you had a mind meld. seth has a letter going around davos a little bit this morning. it sounds a lot like you he says, it can't be business as usual amid constant protests, riot shutdowns, and escalating social tensions. he asks in the lett

" here on cnbc we're live at the nasdaq market site i'm andrew ross sorkin with becky quick and joe kernent 36 points, s&p 500 off 11 points. we have big earnings reports coming out today we'll get to morgan stanley in a couple minutes and later this afternoon lots of eyes are going to be on netflix. >> that's better that's better than all eyes because you can never really say all eyes. >> all eyes on something >>> let's tell you about a few other headlines. vanguard founder jack bogle died at the age of 89 he was best known for the introduction of the index mutual fund he's being remembered by many on wall street today and we will talk more about that in just a little bit >>> the government shutdown continues into a 26th day and the latest economic numbers that won't be released as a scheduled result are december housing starts and building permits. however, we will get the latest initial jobless claims and the manufacturing index. those hit at 8:30 eastern time >>> and a widely anticipated earnings reports comes after the closing bell when netflix releases quarterly numbers netflix is ex

. >>> good morning and welcome back to "squawk box" on cnbc, i'm joe kernen with becky quick and andrewi right that would make it 7:00? >> yup. >> just so you know. >>> u.s. equity futures indicated up about 23 points they've been around 10 to 30 for most of the morning on the dow after a solid session yesterday. not bad since christmas eve. that's all i'll say. fingers crossed, we don't know it's a new year and the market started out fairly well. i don't know what happens. as january goes, so goes the year usually. >>> southwest airlines is out with quarterly earnings in the last few minutes it looks like the company came in with earnings of $1.17 a share, 10 cents better than the street was expected. they beat on the topline as well and said they expect a strong financial performance for the current quarter. check out stock up by 3.9% >>> vbz enezuela is breaking off diplomatic relations with the united states. that follows a white house statement recognizing opposition leader juan guaido as president of venezuela russia is accusing the united states of trying to usurp power in venezu

i'm joe kernen along with becky quick and andrew ross sorkin the futures right now, the dow is down 43ponents there. you have facebook helping the nasdaq to a 59-point gain this morning and the s&p is also diverging from the dow jones treasury yields, interesting that below 270 as of yesterday 267 now which is -- i don't know, we say it so easily and quickly but go back six months and i don't think anyone would have really believed we were going back. >> let's talk about stocks to watch. it's the busiest part of earnings season. the busiest day of earnings season and we have movers to tell you about we'll start with ge. shares sharply higher in pre--market trading. ge did miss estimates by five cents with quarterly profits of 17 cents a share on an adjusted basis and the ceo said ge is making progress, strengthening business and improving balance sheet. the stock which had been down in the weeks leading up to this is up by 8.3% this morning. and then there's dow component dowdupont, much lower. the chemical maker reporting quarterly profits of 88 cents a share. revenue fell short of wh

>> do you remember what president trump said to joe kernen when he did the interview? we're playing with the bank's money. all of a sudden we're not playing with the bank's money anymore. we're paying a bit out of pocket china is paying out of pocket, we think we're paying out of pocket the incentive is there for both leaders to come to an agreement. i think maybe what president trump has learned is that yes, he can indeed, hurt china's economy, but there's a slap back on the united states from that you remember, it was a couple years ago before the president was in office, there was scare in the united states and u.s. markets because of a china slow down that's part of what concerns people now. >> this can be resolved in two ways one way is that the sort of superficial way, yeah, we came to an agreement, it's hunky dory and nothing changes. the other way was china was forced to give concessions on intellectual party because it's coming from a place of weakness. the stock market is happy in the short term which of those two tracks are w headed down? >> the first one, i

i'm becky quick along with joe kernen and mike santoli. andrew is off today.ity futures are down sharply after the drop in apple shares and that warning about what's been happening in terms of sales and revenue there. dow futures indicated down by 370 points yesterday the futures made a stunning recovery from these levels they ended the session in positive territory though. that's the biggest advance you've seen on the first trading day of the year in just about ever if you're looking at this now, you'll see the dow futures are indicated back down 365. s&p futures down by 42, the nasdaq down by 177 apple is the big story the tech giant cutting its quarterly sales forecast citing slowing iphone sales in china and lots of other things the china sales was the big issue. apple sees first quarter revenue of $84 billion, that's 5 billio to $9 billion below its origina forecast of between 89 billion to 93 billion. this is the first time that apple issued a revenue warning since the iphone was launched in 2007 tim cook sitting down exclusively with cnbc. >> as we look

i'm becky quick along with joe kernen and andrew ross sorkin. let's look at the u.s.utures indicated down by about 210 points s&p futurines down by 23. the nasdaq down by 72. there was concern about china's economy and global concerns about the economy too. >>> we have some deal news prominent in the headlines this hour the first one, newmont mining buying goldcorp. it's an all-stock transaction. it's the second big gold related deal in just the past few months then we have mng enterprises offering to buy gannett this morning. its bid, $12 per share in cash a 23% premium over friday's close. "the wall street journal" had reported over the weekend that a bid was pending. that company is owned by alden global partners. they also own about 11 other newspapers there's been a lot of controversy of their ownership over those newspapers. and of course gannett had tried to buy the old tribune that merger didn't happen. so it's been in play for quite some time. >>> separately, ab inbev may do a partial npo which reports that such a raise would raise billions of dollars and hel

i'm becky quick along with joe kernen and andrew ross sorkin. let's check out the u.s.ities you'll see right now that things are in the red dow futures indicated down by 150 points s&p off by 19 and nasdaq down by 53 this comes after a very steep increase that we've seen for the markets across the board in fact, u.s. stocks are on their swiftest rebound in nearly a decade since the lows on christmas eve the dow jones industrial average and the s&p have built up more than 9.5%. that's the best ten day performance since july of 2009 s&p up 4%. you are looking at some red arrows this morning. we'll talk about all of the reasons for that in a little bit. >>> in the meantime, take a look at what happened overnight in asia you'll see that the nikkei closed down by 1 1/4%. shanghai down by 1/3 of a percentage point the hang seng was up by just oh 2 tenths of a percent. in europe it looks like right now things are relatively muted. the biggest decliner is the cac. down by over .6 of a percent you have declines in london. finally, take a look at treasury yields the ten year yiel

morning and welcome to "squawk box" here on cnbc from the nasdaq market site in times square i'm joe kernenand andrew ross sorkin and our guest host tom farley. chairman and ceo of farpoint you recognize him as former big board head honcho. the futures indicated up right now 36 or so that is the dow jones. the s&p is up 1.5, 1.25 right now. and the nasdaq indicated up nine or so. dow components and others this morning. after it's all said and done, we're in the green treasury yields easing a little little 2.74% on the 10-year >>> utility giant pg&e filing for bankruptcy chapter 11 protection that company faces billions of dollars for its role in last year's deadly california wildfires and in fires from 2017 as well. the company's interim ceo said that pg&e remains committed to improving wildfire safety throughout the bankruptcy process. that stock had been down by more than 10% earlier this morning. now it's down by less than 3%. a decline of 35 cents to $11.66. >>> ain exactly one year, jerom powell will be the fed chair for a year >> he did not get that great a grade. if you look at the a