markets shrugging off some early weakness brought on by morgan stanley and csx.the losses close to zero on the s&p and on the dow as we go for eight wins in the past ten sessions. >> our road map for the hour starts with wall street. weighing a miss for morgan stinstin stanley. new concerns about the chinese market. >> netflix reports after the bell shares up 50% since the end of december will that momentum continue? >> and remembering an investing legend, jack bogle who passes away at the age of 89. we'll have a look at his life, legacy and how he changed the way americans invest and save. >> stocks cutting their losses obviously dow is down 34 and s&p trying to flirt with the green here investors weighing concerns about geopolitics, china and the conditioned flow of corporate earnings is the bull market back. joining us today northwestern mutual chief officers and luskin strategist david rosenberg good morning guys. good to sigh both. >> good morning. >> david, let me start with you and talk about all the negativity we heard about in december is that really bei

shares of csx moving lower the railroad company reporting better than expected quarterly earnings and revenue and authorizing a buyback. the dow transports rallying 5% this month tracking for its best january in six years the stocks like united, avis, fedex hauling higher so will transports keep on trucking although csx is a little wrinkle given this move in the after hours session. >> to talk about the transports, it's a wide swath. if you think about it, we've got bad news out of the cruise lines, out of some of the airlines initially obviously fedex in late december when you think about csx, this is a better read on what's moving around our country, how the u.s. economy is doing. i don't think that the guidance that they gave was pretty disappointing. >> although there's some that say that railroads aren't indicative of the economy anymore but i think it is a better gauge on what we think the economy is supposed to do. if these guys are really ripping higher, then that's a great sign for the economy. >> so we downgraded railroads on october 30th this is a very capital intensive ind

csx, the ceo said winners don't make excuses. i think that's a good quote for life.h, sometimes i make excuses. thank you, charles. have a great weekend. charles payne, my brother, my man. >>> breaking news. 100 points of gains have just gotten trimmed off the dow rally as we need the final hour before the three-day martin luther king holiday weekend. up earlier by 377 points, right now the dow is up by 287. s&p better by 29. nasdaq has nice gains, 62 points. this as details leak over several issues, team trump's trade negotiations with china and news that president trump will meet once again and have a summit with the north korean leader kim jong-un. but to the trade

. >>> railroad operator csx reported quarterly profits that topped wall street expectations. the company cited an increase i shipment and higher prices for transporting that helped offset higher expenses. shares initially fell in extended session today, but csx finished the regular day up a fraction at 65.38. >>> coming up, an american icon gets a second life. >>> here's awe look at what we're watching for tomorrow. financial sector earnings continue with american express and morgan stanley. netflix reports its quarterly results just days aftersi incr prices on its streaming services. economic data will focus on the labor market with the release of jobless claims. that should be interesting. that's what's coming up tomorrow. >>> incredibly it looks like sears will stay open. ccording to multiple reports, theretailer's chairman, eddie lampert, won a bankruptcy auction aft sweetening his offer twice to more than $5 billion. lampert's last-ditch plan must first be approved by a bankruptcy judge. if approved, it would keep about 400 stores open. but the company is not out of the

nonetheless take a look at shares of csx, they're down in the after-hours trade. from this company on the earnings call at 4:00 p.m. eastern. wilf >> thank you, morgan some of the key metrics did come in light. >> and the expense ratio that morgan mentioned that seemed to be a little bit of the reflex move down anyway for that reason. it's still well off its highs. a lot of the transports in general outside of a couple of airlines have really been hit pretty hard. even the airlines have, too. >> what are you getting out of the action in transports, including the rails? >> when you look at companies like csx, x airlines, i think they're talking to you about the trade and things are slowing down right now with uncertainty, businesses are not really doing that much with their products. >> do you feel that global growth, though, is priced in now, the global growth slowdown? excuse me. >> i do. cyclicals and transports it's been pretty much priced in the question is, are we decelerating from here or will we see some type of stability and say we'll get growth in a quart

by the way, csx also announcing a $5 billion buy-back. >>> your final big stock story today.lcoa topping forecasts. the company citing strength in its illumina business. >>> we are down about 08 points. bring in peter bookbar, chief investment strategist and officer. also a c northwenbc contributor. we said it going into the break. you have the breck it news, which is confusing it's scary and confusing it's this big story. trade, scary, a little confusing. big story. you have the dcht c. shutdown, which every day it goes on sapps a little bit of strength out of that american economy. okay now you got the fed on top of that maybe a little bit untested. >> right >> i know you tend to be on the bearish side, but you are a prayi pragmattist. give us the bull case. flip the coin. >> flip the coin the fed -- i think the most important -- >> you didn't expect that, did you? i put ow the spot. >> i'm going to try my best to answer it. look at the other side of the table. can the fed create a soft landing? since world war ii they've only been able to do it 20% of the time if they're a

. >> americans tonight with csx, but -- >> csx will be big. >> key macro canaries. >> yeah. keep thinking that we got to -- we got a mixed economy. we didn't talk much about sherwin williams yesterday and what it means for the housing business but the mortgage numbers today, diana olick, they surged 13.5% because rates went down. >> apps? >> yeah. >> mortgage apps that's a fantastic number. >> it is almost the best -- going back to april. >> i think it is big, big, big i think it is really important people say, okay, well, there is ford and then we have got mortgage apps. we got united continental and delta. we have real differentiation this whole etf notion, we have to start thinking about that too. >> what do you mean? >> the airlines, supposed to have single stock risk, we have airlines doing badly, then united continental that will work the note this morning -- >> going to benefit by -- >> exactly that's another -- i think we got to debate that issue i think what is very interesting, in the cody parkey note, united airlines' gain comes at the expense of delta and america

. >> i want to draw your attention to see csx. billion, below4 estimates. eps coming in two cents above estimates. >> some other breaking news. , beating estimates. still beating on both fronts. >> that does it for the closing bell. .p next, consolidations from new york, this is bloomberg. ♪ ♪ >> i am caroline hyde appeared joe weisenthal is on assignment today. >> the market in the green. coming off highs amid a pro. -- probe. >> the question is, "what'd you miss?" >> theresa may won a vote of confidence, but now faces negotiating a brexit deal. bank earnings, goldman sachs and bank of america surge. paying up for a payments giant. one of the biggest financial mergers in decades. let's return to the u.k. news. theresa may has survived a confidence vote. the bbc is reporting the prime minister will take a statement at 10:00 p.m. london time, 5:00 ..m. new york time let's bring in our reporter from london. what to expect from the statement? >> we have not had much intelligence about what is coming, but expected to be reiterateive of the comments we heard, bu

. >>> csx is moving lower.forecast the lower revenue growth and shares are down nearly 2% today. cars.com is jumping after saying it is reviewing strategic alternative. the stock is up nearly 6% and square is higher after unveiling a free debit card. pushing shares up about 5% today. now over to sue for a cnbc news update >> hello everyone. sheer blast happening at this hour at the pentagon president trump called for an expended missile defense program to better protect the united states from enemies. >> it calls for 20 new graund based int based intercepters to detect foreign missiles launched guest our great nation we are committed to establishing a missile defense program that can shield every city in the united states. >> president trump's lawyer has issue a new statement aimed at clarifying earlier excellents that appeared to have left open the possibility of collusion between president trump's 2016 campaign and slaurussia he says no collusion by trump. he says he has no knowledge of any collusion by campa

you know, i remember that csx, i thought that was well run and people thought it wasn't it was a bit insult to the current union pacific team, dong a fabulous job but, jim venna, this man, as a coo, not a ceo, has produced the greatest move in a rail since hunter harrison went to csx. my hat is off to this man. let's understand each other, in the end, it is a railroad, it is not a biotech. >> we'll be watching shares of union pacific this morning and jim will be coming back to you very shortly got to get to an opening bell less than five minutes away. we're back after this. ♪ ♪ ♪ each day, brings new possibilities. that's why you need a partner dedicated to helping your company reach its goals. u.s. bank -- the power of possible. >>> you're watching cnbc's "squawk on the street" live from the financial capital of the world. the opening bell in about 90 seconds. busy tuesday morning as the president will address the nation tonight on television regarding a border wall. ces in las vegas continue to wait for a readout regarding the u.s./china trade talks. as the president says they're g

financials up 1% we'll see if they can follow suit with what unite told us this morning >> csx >> that's right. watch the rails. let's get over to brian sullivan and the half >>> carl, morgan and jon thank you very much. i'm brian sullivan in for scott wapner you have earnings front and center >> financials soar both stocks flying today jamie dimon speaks live this hour we'll listen in. >>> the high end retailer four wall street firms just downgraded the halftime report starts right now. here to debate and trade the biggest stories of the jim, kelly, and jeff kilburg. we got crushed by uva. we start not with basketball but with two big financials blowing past earnings expectations goldman sachs and bank of america, both stocks surging bank of america 14% off its two week high. lot of people buy sboing into te goldman story. either of you doubting >> i think if you go to yesterday, we'll talk about jpmorgan we'll talk about wells we'll talk about city. from the level of stocks, they were good quarters if those report came out, you'd still have the same issues which are lone growth that's

was looking a little tepid, largely because people weren't blown away by last night's numbers from csx, the railroad giant, or alcoa, the aluminum kingpin [ booing ] >> a caller talked about business being soft overnight. taiwan semiconductor reported what looked to be a terrible number, and then guided down 22% for the next quarter [ crying ] why? well, big deal, i don't know maybe apple. apple is a huge customer that caused us to get slammed even further in premarket trading. oil had turned down too, and that's often interpreted as a sign of a ecke wary economy. not great. by the time i finished working it out, the dow was slated to be down 100 points. it god worse as i read in my over, ppg reported a merely okay number, and then offered a totally dismal slashed forecast. nasty. much lower than i expected but in keeping with the week preannouncement we got from sherwin williams over this week, the stock looked to open down 4 bucks. then we got a note from an analyst at jpmorgan who shaved numbers because of weakness in housing. it was a shocker a lot of people thought home depot was

this deal we've got dueling railroad reports on thursday, you know on the pacific and norfolk southern csx had a good number yesterday and it was initially panned. union pacific has a new chief operating officer who is the disciple of the late hunter harrison i would be a buyer of any dip. almost every line item was good. you know i have been a huge, huge fan of mccormick the spice company. i bet we'll hear great things particularly from frank's hot sauce division if you see this label in the supermarket, snap it up. let me know. here's a wild one, freeport, cotton and gold miner. they have been perky of late my friend stephanie link was on halftime with me and she was talking about it it's interesting because copper has been a real dog. we have to find out what's going on here. i can't figure it out. but i like the way it trades i wish freeport had a better balance sheet. i can't wait until after the close thursday because that's when intel reports i wonder if they'll announce a new ceo. we spoke to interim ceo bob swann out in san francisco he was ebullient about the business how about s

financials up 1% we'll see if they can follow suit with what unite told us this morning >> csx >> that's. watch the rails. let's get over to brian sullivan and the half >>> carl, morgan and jon thank you very much. i'm brian sullivan in for scott wapner you have earnings front and center >> financials soar both stocks flying today jamie dimon speaks live this hour we'll listen in. >>> the high end retailer four wall street firms just downgraded the halftime report starts right now.

csx, the ceo said winners don't make excuses. i think that's a good quote for life. liz claman, over to you. liz: oh, sometimes i make excuses. thank you, charles. have a great weekend. charles payne, my brother, my man. >>> breaking news. 100 points of gains have just gotten trimmed off the dow rally as we need the final hour before the three-day martin luther king holiday weekend. up earlier by 377 points, right now the dow is up by 287. s&p better by 29. nasdaq has nice gains, 62 points. this as details leak over several issues, team trump's trade negotiations with china and news that president trump will meet once again and have a summit with the north korean leader kim jong-un. but to the trade issues, bloomberg reporting a trillion dollar offer is on the table from the chinese. china is apparently, according to the report, going to buy up all things american over a six-year period aimed at bringing the trade imbalance between the two biggest economies in the world down to zero. we are going to get you live breaking details from d.c. in just a second. the deadli

from the regulators and shareholders with larger dividends and buybacks after the close wednesday, csx reports. since they took over the railroad and introduced discipline to an unruly retrospeblth, there's been nothing but upside thursday morning brings us morgan stanley for my money, this might be the biggest potential for an upside surpriser in the group along with the healthiest buyback. james gormen has navigating regulatory banking better than any executive. i think his intent to buy back as many shares as possible why the stock is down here you know what, i would buy it right along with him after the close, we get results from american express. the stock is down 15 points from its highs so we need to hear that corporate travelers are still spending i most want something about china. specifically the chances of getting a business license that lets amex expand into this market how about a stock that's already up 26% for 2019? you heard me, 26%. it hasn't even been two weeks. i'm talking about the stock of netflix. the analysts who cover this stock have been tripping over each othe

turn arou around this process was pioneered by the late hunter hairson years ago and he brought it to csx before he passed away. as part of their embrace of precision railroading, and boy, i think it's going to change them a lot, the stock market expected great things. hey, you know, this stock went up more than ten points on the news put it all together, and the rails paint a picture that's consistent with what we're seeing from the rest of the economy. they have a deceleration month to month in the fourth quarter, fear of higher tariffs on chinese goods causing many orders to be full forward. at the same time union pacific and southern developed fantastic profits. i sure home jerome powell is looking at these numbers because they suggest that we really don't need a rate hike here. to the extent the rails had a strong fourth quarter, much of it came from the desire to beat the scheduled increase in tariffs, not from an acceleration in our economy. when powell holds his press conference on wednesday, i sure hope he continues to hold off on any talk about the need to tighten. you don't tig

charles: gary b, after the close we get the csx, huge day for united.up until the fall were leading the way, sort of confirming the old dow theory. how important is it that we do get some of these rustier industrial material names in the mix even though they don't have what's necessary to lead the parade? >> well, look, from a making money perspective, in most people's portfolios, i think it's obviously becoming less and less important. people are buying the amazons, the alphabets, et cetera. from a feel-good standpoint, psychological, absolutely we want the old -- old, sorry, the more mainline industries to do well. but you know, honestly, i'm really not that concerned how ford does, how a railroad does. a lot of those industries, charles, as you well know, ride on the back of everything else doing well. financials can't rise unless the rest of the industries are doing well because they lend money as things accelerate. i'm more concerned these days if netflix is doing well and amazon, the kind of companies i think are leading the charge. charles: real

and csx beat estimates by two cents.t of a dollar while revenue for the quarter was inline shares of the railroad operator forecasting slower revenue growth for 2019. >>> china confirming high-level trade talks with the u.s we'll pick back up they say at the end of the month china says its vice premier will travel to washington for two days of negotiations those talks get under way january 30 >>> the united states is reportedly pursuing criminal charges against china's huawei and zte for alleged theft of trade secrets. the "wall street journal" says an indictment is expected soon check out shares of zte. down by about 3.5% in the meantime, a bipartisan group of senators introducing a new bill that would ban the sale of u.s. chips and other telecom components to huawei and zte china responding to that proposed legislation, calling it hysteria in a rare public appearance, huawei's founder said this week that his company does not and would not spy for the chinese government. >> all right, let's get thoughts from this mornin

the csx 300 is down by 0.1%. a lot of this is due to the shanghai calm.ocused on the talks between china and the u.s. in beijing right now. the vice premier is there emphasizing how important those talks are. investors also taking a wait and see approach. investors are in a quandary over the very volatile 2018. 9% in alost more than month shaking investor confidence. the outcome of those trade negotiations still hanging in the balance. there could be a positive in march, whether that will happen or not we will have to wait and he. for the rest of asia, a mixed picture as well. this is bloomberg. stay with us. ♪ i am a family man. i am a techie dad. i believe the best technology should feel effortless. like magic. at comcast, it's my job to develop, apps and tools that simplify your experience. my name is mike, i'm in product development at comcast. we're working to make things simple, easy and awesome. > it's 11:29 in 407k congress. there's just 12 week to go from the split from europe. prime minister theresa may is preparing for a no deal brexit. there'l

. >> wednesday it's retail sales black rock, bank of america, goldman sachs and csx earnings thursdays from netflix, morgan stanley and american express it's going to be a huge week and we've got another big story to drill down on for next week. the brexit parliament vote this time it's going to happen >> we think so we think it's going to happen. it's going to happen on tuesday. that delayed critical vote will take place on theresa may's brexit deal. the math appears very, very hard for her. she will lose, she'll lose comfortably. what will happen next? two developments this past week of note. the first is that mps voted in favor of an amendment against theresa may's wishes to force her to return with another plan within three days if she loses the vote essentially this tilts the balance of power towards mps and lowers the chance of a no-deal hard brexit. second, the leader of the oppositi opposition, jeremy koecorbyn ma clear that his primary aim is not a second referendum. >> we will move no confidence in the government at a time of our choosing when we judge the best chance would

we saw what it did at csx. think it's great stuff >> yeah. >> the stock ran ten on the decision to be more precise. i mean, will you explain this to me >> what? they were non-precision railroading for a long time. >> they had a lot of congestion. a lot of customers complained to me about union pacific can you imagine if you came one day and said, jim, i've been imprecise, i'm going for precision now. i would say, what were you doing beforehand >> he could actually get on and talk to an engineer at a particular crossing. that's precision. >> i remember an elementary schoolteacher. her father was in charge of demurrage at a railroad. you know what that is? the amount of trains they lose shrinkage. i think that's part of the precision. union pacific has had a hard time getting people. we commiserate that you have to start lowering your standards a little bit that you might otherwise hire a very good thing that i've seen throughout the system and i'm really excited about this. >> ford's really the only disappointme

when i think about streets collapsing, and the csx railroad that runs through the city and a wall collapsed on 26th street, and then when i think about heavy rains and flooding, floating down through the middle of streets, and people feeling like they're almost living underwater i said you know this really begs the question when are we going to fix and pay attention to the infrastructure of our city? and i have to say this to you that i was in a conference almost a decade ago, and i talked -- it was a transportation conference, and we were talking about the needs of america which i think was something like $3 trillion to fix the infrastructure of our country. that was over ten years ago. and bridges and i said so how are we relaying the information, and someone w said we have a two and a half minute video. so2. my response was here's how simple we should bee communicating to america about the seriousness of the bridge problem we have in your country because we have one in our country that will cost $150 million, two and a half minutes america's attention span is not that long. the commercia

charles: well, business also, let's just -- i want to share from the ceo of csx, one of the largest railderstand what's going on better than anyone else because we guess a lot. we talk about what's possibly happened, they talk about what happened. over the last couple months, everybody was talking about trade, tariffs, interest rates, what's going on with brexit, government turbulence, all these things. must have some impact on the way you're running your business, but we go back to the same place we were a few months ago. everybody, us and our customers, are still very optimistic about business in 2019. they're making long-term capital investments, they're building and expanding facilities and they look absolutely fantastic. none of their projects have been pulled so there's reality and then there's all the scary stuff that we talk about every day. all right. >>> now to this. no one from the white house, president trump included, going to davos. a delegation of four cabinet secretaries including steven mnuchin were planning on going until yesterday and that's when, of course, the announ

mayor pugh when i think about streets collapsing, when you think about the csx railroads that runs through the city and a wall just recently collapsed on 26 26 treat and wi think about heavy rains and flooding floating down through the middle of streets and people feeling like they are almost living underwater, i said this really begs the question, when every going to fix and pay attention to the infrastructure of our city? i have to say this to you that i was in a conference almost a decade ago, andnd i talked, it s a transportation conference and we were talking about the needs of america what you think with something like $3 trillion to fix the infrastructure of our country. that was over ten years ago. and bridges. i said so how are we relating this information excellence and we have two and half minute video. i said here's how simple we should be communicating to america about this terseness of the bridge problem that we have in our country because we have one inner-city that will cost about $150 million, two and half minutes, america's attention span is not that long. i said the comm