. >> thank you andrew ross sorkin and scott cohn. >>> the biggest retail sales drop in a decade how worried should investors are be steve grasso, a cnbc fast money trader also a cnbc contributor. welcome. peter, let me start with you, how bad was this number? and is it really explained away by two things, the slide in the stock market that was running through the fourth quarter and the government shutdown, which began in december? >> i don't think the shutdown had an effect, it was the latter part of the month. i have no doubts the stock market influenced consumer spending i'm done think the number was as bad as the print looked i think there were seasonal issues there are data points showing the consumer is reluctant to be spending january auto sales came in below 17 million delinquency rate for subprime car buyers are rising. consumer confidence for january fell to the lowest level since the month of the election. also yesterday's housing data, the mortgage bankers association, with mortgage rates falling to one-year low, purchases of homes are down 5% year-over-ye year-over-year. >> you

. >> the friday -- the friday amazon andrew ross sorkin that made so much -- well, what happened to thatorkin >> he was frustrated and upset about how far -- >> what happened you slept over the weekend, and you are now back to -- >> i will find -- >> i want to talk amazon i will absolutely talk amazon. >> always paved with good intentions you were woke to the woke briefly. we got to go to break. coming up, more on the trade war. i don't know how we got into this >> you brought it up >> that's right. i did. >> more on the trade war fall-out a programming note on monday, warren buffett has answers to some of your questions you can start so submit them on media platforms. ask warren always found that show we'll start at 6:00 a.m. eastern as we head to break, here's a look at yesterday's s&p 500 winners and losers ♪ your love is lifting me highe ♪ ♪ than i've ever been lifted before ♪ >> welcome back. you're watching squa skbauk box" live from the nasdaq market site in times square. ♪ i'll be at your side forever more ♪ >> good morning. u.s. equity futures right to the front of the pack. how

value proposition it's meaningless andrew ross sorkin over there see him b.c. he's still so frickin stupid he has absolutely no knowledge of how does this guy. really move in case the audience hasn't seen it c m b c had a segment on j.p. morgan coyne and ross sorkin is their lead market economist sort of commentator and he says j.p. morgan coin is great and he says it will kill big know why would you want to own bitcoin when there's j.p. morgan this isn't the site that's what its own people are going to do to the buggy whip car companies oh my god the book you would go but he's going to beat these autos to death i mean this guy is severely got his head up a shrink friend he doesn't know jack anything severely it's horrible i mean even downtown josh brown always goes to a big point conference and gets slapped around a little bit and educated i mean he's the he didn't understand it either and sadly in terms of this game of coins the i.m.f. is also announcing their ideas for how to make. at the end stage of their fear currencies and as the world is saturated with

i'm andrew ross sorkin joe kernan and melissa lee are here, and this is what i got i just got a chocolateark chocolate raspberry >> giradelli chocolate >> from the bowl outside over there. >> hael happy valentine's day. happy valentine's day. >> he got those roses. >> becky quick, we want to wish her a happy valentine's day. she's on assignment, and we'll have more on what that assignment is and what the interview is in the meantime, some breaking news as well >> you want to get to this story. >> all the family members. we do -- >> our kids, many i daughter >> to bring you this -- >> my son. >> from cnbc jp morgan rolling out the first crypto currency backed by a u.s. bank. here's what's happening, guys. companies engineers have created what's called the jpm coin it's a digital token that will be used to instantly settle transactions between clients of the wholesale payment business only the bank's big snusal clients who have completed regulatory checks will be able to use this token. the value of the token is fixed. that's important we'll talk about that in just a second each coin is red

are live from the nabs market site in fiemz square i'm becky quick along with joe kernan and andrew ross sorkinequity futures are indicated higher dow futures up by 17 p points. >> the four-day losing streak. it's the first four-day losing streak of the year s&p up nasdaq up in the second straight session. we'll see where things head. this morning the thoughts are that we may not be having another government shutdown here and that the trade talks with china might be on a good path. those are the things that are really helping the futures this morning. we'll talk about that in just a little bit let's also take a look at what's what happened overnight in asia. the neeks neek up by 2.6%. heng singe up, and the shang high composite up by .7% then in europe where you are looking at some early trading that's already taking place. green arrows across the board there, too dax is the best performer. up by 1.25%. you can also see that the cac is up by more than 1%, and in italy stocks are also up by 1% taking a look at the treasury market here in the united states, yesterday the yield was 2.66%. slightly

we're starting to see that close now because of the forms we introduced. >> andrew ross sorkin has aand the privacy concerns on one side and yet a larger debate going on about the future of 5g which i know you've been a big proponent of in the united states. how can we, the public, separate these two issues >> well, i think the first thing is to focus on the need. the 5g fast plan getting into the commercial market place, making it easier to promote more fiber deployment to carry all that internet traffic. and because of the reforms we've made, cisco in popular has said north america will have more connections than asia by 2022. there's also a security component there. the fcc, united states government as a whole is concerned about the fact we need to make sure the supply chain feeding into the infrastructure around the world when it comes to 5g is secure. that may pose a threat to the united states. we want to make sure these networks not just operate for the benefit of our citizens but are also -- >> but help us with this distinction. because there is sort of an america first view

i'm becky quick along with joe kernan and andrew ross sorkin. let's take a look at u.s. equity futures this hour. you look at the dow and s&p are a little under pressure. dow futures down by 18 points. s&p futures down by 2. the nasdaq up by less than a point. this is all happening after you have seen a pretty decent winning streak for all the major averages the s&p has been up for six of the last seven sessions. we are getting the fomc minutes later this morning that will give us more insight into what the fed may be thinking about the balance sheet. in the meantime, take a look at what happened overnight in asia. you'll see that the stocks were up across the board. hang seng up by just over 1% the nikkei up by about .6% then the shanghai composite up by about .2% then in europe where you do see some active trading taking place right now, mostly green arrows the dax up by a quarter of a percentage point the cac up by just under .2% so is the ftse finally, take a look at what's been happening in the treasury market here in the united states yesterday you saw the yield cl

are live from the nabs market site in fiemz square i'm becky quick along with joe kernan and andrew ross sorkinuity futures are indicated higher dow futures up by 17 p points. >> the four-day losing streak. it's the first four-day losing streak of the year s&p up nasdaq up in the second straight session. we'll see where things head. this morning the thoughts are that we may not be having another government shutdown here and that the trade talks with china might be on a good path. those are the things that are really helping the futures this morning. we'll talk about that in just a little bit let's also take a look at what's what happened overnight in asia. the neeks neek up by

i'm andrew ross sorkin joe kernan and melissa lee are here, and this is what i got i just got a chocolatechocolate raspberry >> giradelli chocolate >> from the bowl outside over there. >> hael happy valentine's day. ha

i'm melissa lee along with andrew ross sorkin joe and becky are off today.in just a minute, but we want to go it this breaking news literally crossed about five minutes ago andrew, you have the details here >> breaking news from the banking industry a $66 billion transaction. the largest banking transaction probably in the last decade. bb & t and suntrust just announcing they will combine a merger of equals it's an all stock deal voould valued at $6 of billion. combined company will be the nation's sixth largest bank. i'm trying to go through what it would be behind. you'll know this better than i will bank of america, j

this is happer speaking on cnbc with andrew ross sorkin in 2014. >> you made a comment back in 2000 andomparing climate change to the holocaust was to my question is, are you suggesting when you made that comment that climatologists and climate scientist are the equivalent of hitler and nazis? a you know, i get called denier and anyone who objects to all of the hype gets called a denier. that is supposed to make me a holocaust denier. i'm getting tired of that. thecomment i made was demonization of carbon dioxide is just like the demonization of the poor jews underhitler. carbon dioxide is actually a benefit to the world and so were the jews. amy: that is william happer, defending his statement that "the demonization of carbon dioxide is just like the demonization of the poor jews h underitler." funding --ports prohibiting federally-funded scientists from communicating their findings to the public. news that he might lead trump's new climate committee comes despite a widespread consensus abouout the masse e threat clile change poses to humamanity. last year, government findings collecte

i'm becky quick along with joe kernan and andrew ross sorkin. let's take a look at u.s. s&p are a little under pressure. dow futures down by 18 points. s&p futures down by 2. the nasdaq up by less than a point. this is all happening after you have seen a pretty decent winning streak for all the major averages the s&p has been up for six of the last seven sessions. we are getting the fomc minutes later this morning that will give us more insight into what the fed may be thinking about the balance sheet. in the meantime, take a look at what happened overnight in asia. you'll see that the stocks were up across the board. hang seng up by just over 1% the nikkei up by about .6% thenhe

i'm melissa lee along with andrew ross sorkin joe and becky are off today. we'll get to the markets in just a minute, but we want to go it this breaking news literally crossed about five minutes ago andrew, you have the details here >> breaking news from the banking industry a $66 billion transaction. the largest banking transaction probably in the last decade. bb & t and suntrust just announcing they will combine a merger of equals it's an all stock deal voould valued at $6 of billion. combined company will be the nation's sixth largest bank. i'm trying to go through what it would be behind. you'll know this better than i will bank of america, jp morgan, wells fargo, citi, and i'm thinking what's our fifth, right before you hit -- >> by assets, it will drop out pnc would be above those -- would come gr before the goldman sachs, and this will now become number six >> the question is whether this is going to pressauj a larger dome notice effect we've been waiting for a decade, frankly, since the financial crisis, for. >> there would have to be a sweet spot due

welcome back to "squawk box" here on cnbc i'm andrew ross sorkin along with becky quick and joe kernen larry bossidy is here so much to talk to him about and get his thoughts on the president and leader of north korea this morning take a look at u.s. equity futures at this hour you're looking at the dow off about we'll call it 85 points. s&p 500 off about nine points. the nasdaq looking to open off about 26 points. >>> meantime, as we just mentioned, president trump meeting with north korea's leader kim jong-un later today to talk denuclearization and so much more. they just had a photo op headed into dinner very shortly want to get over to eamon javers who's in hanoi right now eamon? >> reporter: good morning, andrew it was all smiles and hand shakes between the two leaders here as they opened the second summit between north korea and the united states during the course of president trump's two-year presidency. the two leaders met in person. they're engaged behind the scenes right now in a one-on-one meeting. we expect soon to see a social dinner later this evening here hanoi time the

i'm becky quick along with andrew ross sorkin and mike santoli.el-erian from allianz. we have been watching the futures this morning after a big gain for the markets yesterday you'll see this morning it's a bit of a mixed picture dow futures up 85 points after gaining 175 yesterday. s&p futures up by 2.5 and the nasdaq is slightly weaker because of losses for alphabet after the bell yesterday the numbers were better than expected, but there were some finer points within that that had a street a little concerned. we'll talk about that in just a little bit let's look at what's been happening with the treasury markets in the united states we'll see the yield for the 10-year is sitting at 2.76%. >>> viacom reporting mixed results. 9 cents above estimates. but revenue fell short of estimates as domestic advertising sales declined you see the stock expected to scale back just slightly cos mettics company beat estimates by 19 cents of $1.74 per share. and the big tech mover of the morning, alphabet as becky mentioned earning $12.77 per share. that was ab

i'm becky quick along with andrew ross sorkin and melissa lee.u.s. equity futures and we've seen things kind of fluctuating right around the flat line. dow futures indicated down by about 18 points. s&p futures down by less than a point and the nasdaq up by just over a point this morning, the new england patriots fans. tom brady, bill belichick, and the the team winning it will be interesting to see the ratings which will come out later today. we'll have more on one of the bigger ad controversies coming up as well but tom brady now the most winningest quarterback in super bowl history with six rings that he's going to have more than enough to fill one hand >> we do know a lot of people still watched netflix even though they were humble bragging their ratings were only down 32% on super bowl night. >>> big gains this morning coming from papa john's. take a look at this stock. because starboard's value has taken a stake in the chain ceo jeffrey smith is going to become chairman of the board at papa john's. the news becoming official just moments ag

everybody welcome back to "squawk box" here on cnbc i'm becky quick along with joe kernen and andrew ross sorkinquity futures have been stronger this morning with the dow up 1.5% and the nasdaq two you can see this morning adding to those gains dow futures indicated up by about 80 points. s&p futures indicated up by 7.5. and the nasdaq up by 31 points >>> here's what's making headlines at this hour the house may vote as early as tonight on the deal struck to fund the government and avoid another shutdown president trump has said he does not love the deal. but doesn't want to see another government shutdown. we will see whether he will sign whatever they potentially vote on also, new college poll showing a majority of voters in new york city and new york state favor the deal to build a new amazon headquarters in queens they've run into a lot of vocal opposition from lawmakers. we're going to talk to one of them in a couple of minutes. plus one kpik number on today's calendar, going to be getting january consumer price index numbers in about 90 minutes. economists there looking for increase of 0.1

box. >> good morning and welcome back to "squawk box" here on cnbc i'm joe kernen along with andrew ross sorkinian the futures now are down less than 50 points in the premarket session. that is the dow we're talking about. the s&p down five and change nasdaq down over 14. treasury yields today, i saw 2.68%. 2.66% right now on the 10-year >>> couple stories that investors are going to be talking about right now. walmart the big earnings mover of the morning let's show you what's going on here the company beating forecasts on the top and bottom lines for the fourth quarter earnings coming in at $1.41 a share. that was 8 cents above estimates. comparable store sales rising above the estimate of 3.2% company also increased by 1 cent to 53 cents per share. the stock up almost 4% right now. also, 16 states have followed federal laws who challenge the emergency declaration to pay for a wall along the u.s./mexico border will likely be a drawn out legal battle that will wind up in the supreme court. president trump predicted all of this when he made the original announcement separately, activist investo

welcome back to "squawk box" here on cnbc i'm joe kernen along with kelly evans and andrew ross sorkinigits now. but in the red becky quick has made her way to the west coast she spoke with berkshire hathaway vice chairman charlie munger and i just want to know, were you able to get him to say the word turd again? >> no, but i didn't know that was the game if you'd give me a heads up or a challenged me, i might have tried. >> remember about bitcoin? >> he has plenty of times. in fact, i think one time recently i spoke to him he talked about polishing turds but not this time around >> of course there's going to be many, many other great -- >> lots of things. when charlie munger speaks, i don't think he cares a hoot about what anybody thinks. he takes shots at people he took a shot at elon musk, we'll talk about that later. but he also sits down and thinks through, explains his thoughts on business. i sometimes see him as the high priest of business he calls out where he thinks things are doing well. but he also calls out bad behavior he's got no holds barred on any of these things. we t

and as andrew ross sorkin said, there's just a basic ignorance of economics 101 here and it's cost queensjobs. >> and the many layers of the conversation are much more complicated. the conversation that we were having earlier about aoc is more about the politics when up deal with a situation like this. this is not a win, win, win. and she put it out that way. we have a lot more still ahead, including bob mueller. he has a new boss who has vowed to let him finish his investigation. but the question now is whether the new attorney general will make the mueller report public. we'll talk about that ahead on "morning joe." what if numbers tell only half the story? at t. rowe price, hundreds of our experts go beyond the numbers to examine investment opportunities firsthand. like a biotech firm that engineers a patient's own cells to fight cancer. this is strategic investing. because your investments deserve the full story. t. rowe price. invest with confidence. >>> we pray in the most holy name of christ jesus our lord, amen. >> you're telling me that the president would have wisdom to sign the

welcome back to "squawk box" here on cnbc i'm andrew ross sorkin becky quick and joe kernen joining uslive from pebble beach. hey, guys, again what do we have cooking this hour >> well, we got at least -- we got waste management this hour but we got chevron coming up, randall stephenson coming up from at&t. jeff yang -- this is you supposed to be talking >> we're kind of doing this together. >> we are. i like the whole idea of a two-hour show and a one-minute commute for me so i'm ready to -- you know, i do need to go home eventually, i guess. but also wall street legend jimmy dunne will be here which is good. >> chevron ceo going to join us. >> mike werth will be here as well >> and there are big issues that are kind of involved in just about every one of these ceos who are here some major issues happening around the globe you'll hear from it all day long but everything from china trade that's been out there to changes in the media industry and to these big consolidation in the financial industry right now too. we've got ceos who can speak to every one of these issues happening. >> ho