larry kudlow. the famed floor show is up next. the traders get to react to all the news that larry just made. by the way, we are off the highs of the session. we have lost a little air, larry. you didn't have the same golden touch as you did this morning. dow still up 85 points. yes, we are still above 29,000. "the claman countdown" coming right back. any comments doug? yeah. only pay for what you need with liberty mutual. only pay for what you need with liberty mutual. con liberty mutual solo pagas lo que necesitas. only pay for what you need... only pay for what you need. ♪ liberty. liberty. liberty. liberty. ♪ the better question would be where do i not listen to it. while i'm eating my breakfast... on the edges of cliffs... on a ski lift... everywhere. for a limited time, go to audible.com to save $50 on your first year of membership. liz: with phase one and done, let's see how the other markets in the other areas of investment are reacting, because this is rather interesting here. little bit of sell on the news. oil closed low

. >> larry kudlow on cnbc earlier today. the national comic council director suggesting also there are big manufacturing, energy and services, purchases in this agreement in addition to the ag numbers that a lot of people have been talking about going forward. the devil, of course, is in the details of all of this we will see the tax at some point this afternoon, administration officials promised i can tell you, there's intense choreography going on at the white house for the rollout of this, which will be in the east room later on today. very detailed preparations they did a walk-through with the chinese side the protocol, who speaks, what order, who is standing where all of that carefully walked through yesterday. we're told white house officials are pleased about how that went and are optimistic today. >> yes, i think 200 people standing room only will be a busy afternoon going through the 86-page report and all of the details eamon javers, thank you very much >>> let's get over to eunice yoon but let me know we hit highs

larry kudlow, the u.s. and china sign the phase one trade deal. soft in the wake of targets surprisingly weak holiday comps. goldman good, europe is red. december wholesale inflation runs cool. road map this morning begins with historic day in our nation's capital, impeachment 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 that's a big win for our technology companies, busine

larry kudlow. where is larry? [applause] where is larry?where the market went down one trillion dollars. think of that. in other words, one of those few days. we had 141 days we hit all-time highs as we broke, as you know, we broke the 29,000 mark on the dow as we're walking in. market is up substantially today. with all the business leaders i'm sure they don't care. [applause] but larry kudlow went out into the beautiful lawns of the white house, actually he was standing in the middle of the rose garden. he had a beautiful scarf waving in the wind. everything perfect, right out of greenwich, connecticut, and he started talking and by the time he finished, i just said you made a trillion dollars, a trillion. because the market went up 250 points. i said, larry, what the hell did you say? and it didn't matter but we were even. we went from being a trillion down, to even. that was pretty good. larry, you've been fantastic, thank you very much. appreciate it. [applause] and by the way i see in the audience our great ambassador to china, right,

and less than a half-hour larry kudlow joins us from the white house.day we are talking gdp, the virus impact on china's economy and our economy, usmca and a whole lot more. plus pete rose is with us, a legend on the show and i'm asking him what he thinks about the houston astros sign stealing scandal. democrats obsessed over president trump celebrating the signing of usmca. it did not take long for the left to attack and try to take credit for usmca. we have a story for you next. ♪ through the at&t network, edge-to-edge intelligence gives you the power to see every corner of your growing business. from using feedback to innovate... to introducing products faster... to managing website inventory... and network bandwidth. giving you a nice big edge over your competition. that's the power of edge-to-edge intelligence. >> the dow down 72 points. we will be down a lot more than that. let me get back to tesla for second period a moment ago on her show i guess said it is going straight down but the stock is going straight up. now it is up $57 a share, tesla a

stuart: joel thank you very much indeed and now the white house chief economic advisor larry kudlow is right there. larry welcome back to the show. always good to see you. can i start off with something which i thought was rather disappointing in this jobs report? i'm sorry to stop on the negative but look 2.9% wage growth year on year, below the 3 % growth level that we've kind of gotten used to. now, i call that disappointing, and i don't understand it, because in a fully-employed very tight labor market, i'd thought that wages go up. what's the problem? >> well wages do go up and we are very fully employed at 3.5% unemployment 50 year semi low. look i wouldn't cherry pick one number like that. there's a lot of measures of wages, generally, total compensation has actually been running 3.5-4%, and today's numbers and every other number show that the production people, the service people, the bottom half and actually the bottom 10 or 15%, their wage increases are still vastly out pacing the increases of the managers, with the stock market rally and we've had eight or $10 trillion incre

let us talk about these issues with larry kudlow. please welcome them. [applause] >> hello, larry.lease take a seat and make yourself comfortable. let us jump right into it as we have a lot of news this morning. they pelosi just announced democrats and administration have reached an agreement on the deal.exico-canada how good is this for the rest of us? for the u.s. economy? will this make a difference? and is it any better than nafta? mr. kudlow: i think it is better than nafta. i think it is broader than nafta. it updates nafta. particularly in some important new economy ways. the way this was designed by ambassador like kaiser -- ambassador robert lighthizer, in a bipartisan sense, you have domestic content and labor issues which have been resolved. you also have new economy issues in particular intellectual property rights which have never been put in one of these trade agreements before. i think financial and digital services also. they will make a big difference and i think you will get a lot of investments you might not have had. i pulled out some of the estimates from the i

larry kudlow telling liz claman to prepare for a big boost on the economy after the trade deal. >> u.s.-china trade deal will add at least a half a point of gdp in 2020, watch, even though we take a hit on boeing in first quarter, unfortunately, we're transitioning back today 3% goal we originally had in 17-18. david: steve forbes a half percentage point added that is about a trillion could is that over stating the effect? >> i think you will see is year this is on second half, you don't turn that on like a light bulb that will kick in with the election coming up this is good timing. david: you say yes. >> for the whole year, but it will be boosting 3-plus percent in latter part of the year. >> it is positive with more manufacturing and efforts, and farm industry comes back. those are all good. we know that they have been way off on their gdp, they said after tax reform near 4% -- even steve more was 5%. >> i was not. >> we would be great if they were 3%, but they have been wrong. >> just have to have patience. >> that is why deficit has ballooned, i am positive in the sense that this

larry kudlow. where is larry? [applause] larry?e is we had a day where the market went down $1 trillion. it was one of those few days. we have had 141 days where we hit all-time highs and we just dowe the 29,000 mark on the just now. markets up substantially today. [applause] larry kudlow went out onto the beautiful lawns of the white house, actually he was standing in the middle-of-the-road started. he had a beautiful scarf waving in the wind. right out of greenwich, connecticut. he started talking. by the time he finished, i said you just made $1 trillion. the market went up 250 points. i said larry, what the hell did you say? it did not matter. we were even. we went from being $1 trillion down to even. larry, you've been fantastic. i appreciate it. [applause] way, i see: by the our great ambassador to china. , andd the governor of iowa he loves china. he is the longest-serving governor in the history of our years, and i called him and i said governor, you have to do me a favor. one conversation i had with him, i was going into m

larry kudlow joins us. taipei, taiwan's economic performance could act as a tiebreaker for undecided voters. we are on the ground come alive at this hour. ♪ nejra: we end the week with a risk on tone. a mixed picture across asian equity. green on the scene for the msci asia-pacific index. back to business for the s&p 500. we hit a record yesterday. we will see more risk on today. the 10 year yield edging up a basis point. the yen is actually heading for its worst week since july 2018. another two-week low right now. for the first time since 28 team. brent heading for a weekly loss as well despite the spike on the geopolitical tensions. belowing the same, back $60 a barrel. justin trudeau saying the ukrainian jet was likely shot down by a ukrainian missile. he says it may or may not have been an accident. the head of iran's aviation the theoryalls plausible. trudeau is blessing for an in-depth investigation of the crash. >> we have intelligence from multiple sources including our allies and own intelligence.

larry kudlow there. where do you go after that? ashley: that was great.ith us, let's follow up on what he had to say there, 3 quarters of 1% added to the economy because of usmca, half percentage point added to gdp because of the china trade deal, 3% growth maybe for 2020, that's quite a forecast. >> yeah, you were raising your eyebrows when i said half percent for usmca, you almost jumped out of the chair when he said 3 quarters, it's growth, growth, growth, they are pulling out the stops, people are underestimating what a lift we can get from usmca, we can get a big lift from china, look, if they do the middle-class tax cuts and you add that to the picture, this is a growth story we haven't seen for a long time, 3% is definitely within the realm of possibility by the end of 2020. stuart: well, you will listen to this, sir, you heard exactly what he had to say, now you're a stock market guy, what's your comment? >> yeah, look, if we get 3% gdp growth that is not in the market's expectations at this point. the market is looking for earnings growth this ye

david: and larry kudlow is not a socialist. >> right, my boss is a free en pe-- enterpriser. we disagree and reject with all due respect, lord knows, senator sander's view. >> i am a capitalist as well, i applaud the usmca. today the cbo announced they forecast the deficit of 1 trillion dollars through 2020. you have been a fiscal conservative you know for as long as i have known you, maybe over 30 years now. what do you say about the cboreport, how do you think we can take this deficit on? >> well, look, the deficit is running about 5% of gdp . that is a manageable number in my judgment. we need strong economic growth, to work our way through the deficit, also would be nice to limit spending. you can't always get the spending restraints you want, more on that in future. i want to just say about the cbo report, i had not read it carefully but have seen a couple memos shared this morning that shows cbo revised significantly higher its revenue estimate, such has we paid for corporate tax cuts and paid for the entire 1.5 trillion overall tax cut, because the faster growth than t

let's talk about these issues the larry kudlow who is assistant to the president and director of the economic council at the white house. please welcome them. [applause] >> hello eric, please take a seat. make yourself comfortable. lori --larry.. we have reached an agreement on the u.s.-mexico candidate deal. how good is this for the rest of us? we have reached an agreement on deal.s.-mexico-canada mr. kudlow: i think it is better than nafta. i think it is broader than nafta. it updates nafta. particularly in some important new economy ways. the way this thing was always sense,d in a bipartisan you have domestic content and labor issues which have been resolved. you also have new economy issues . in particular, intellectual property rights which has never been put into one of these trade agreements before. i think financial and digital services. they are going to make a big difference. we will get a lot of investments that we might not have had. i pulled out some of the estimates from the international trade commission. a lot of people were quoting numbers from the itc. lower numbers.

lou: larry kudlow is not doubting wednesday. >> all solare kudlow saysooooo -- all solar are you kudlow says there will be no text of the deal released before the signing. the markets think it's mow pen to us. we'll have to wait to see what it looks like after they release the text. lou: on a programming note. we'll be talking with the u.s. trade representative robert lighthizer this coming monday evening. we hope you will be with us monday. up next, investigative journalist john solomon. i've always loved seeing what's next. and i'm still going for my best, even though i live with a higher risk of stroke due to afib not caused by a heart valve problem. so if there's a better treatment than warfarin, i'll go for that. eliquis. eliquis is proven to reduce stroke risk better than warfarin. plus has significantly less major bleeding than warfarin. eliquis is fda-approved and has both. what's next? sharing my roots. don't stop taking eliquis unless your doctor tells you to, as stopping increases your risk of having a stroke. eliquis can cause serious and in rare cases fatal bleeding. don't

>> in general i would agree with larry kudlow. i don't pay a lot of attention to household surveys.hat's a very volatile number. in general if you look at the last three months, it will smooth out some of the volatility. it's created 184 thousand jobs per month on average. that is not quite the over 200,000 we were doing last year. in the grand scheme of things that is not a bad number at all. vonnie: what do we do about these earnings? it seems like no matter what the fed does her hou -- how long they hold on, never goes up. if you look at some of the higher-paying jobs in the economy, like in manufacturing, the oil sector, you have seen some slowing over the last year. due in part to the trade war and the slowdown in the energy sector. if you're not creating high-paying jobs, ute spec to see a bit of slowing over all in terms of hourly earnings. i think the important thing is to keep in mind how much income is being created. the last three months we have would be the september through november timeframe. if you look at real disposable income, that's up over 3% on a year-over-year

larry kudlow was right, i think we could have tip to 3%. nings that indicate we could get that but i do think larry's right to be optimistic. >> i guess we have to rap. we blame income inequality on ourselves but china took a lot of our jobs, maybe that will help >> i'm sick of that. >> jim, right? >> that's the kind of, we're doing so well, we have to help others let's help ours. let's make it so all the people who are in trouble here do better >> all right, jim. >> thank you >> all right, jim, thank you we'll see you in a couple of minutes and we'll be right back. ♪ ♪ ♪ ♪ don't get mad. get e*trade, dawg. >>>. ♪ >>> good tuesday morning welcome to "squawk on the street." i'm carl quintanilla with jim cramer back at post nine with me and david faber at the new york stock exchange china confirms the new respiratory virus, davos continues with the president, earnings katrina tonight with net flick and ibm. our road map begins with a rally pause. stocks are set to pull back from record levels at the open amid growing concerns about the spread

larry kudlow has

larry kudlow says we are getting about half of what we are looking for.one. for the farmers in the midwest, people et cetera joni ernst from iowa, she believes this is exactly what they have been looking for. until you buy the beans, sandra, you can't tell for certain whether or not the deal has been completed. >> sandra: a couple minutes away here. the president, we are told, will enter the room. as you see the room rise to their feet, and the ceremony begins. to the white house. and that's president of the united states, accompanied by the vice-premier of the people's republic of china. ♪ ["hail to the chief"] ♪ >> president trump: thank you very much. we greatly appreciate your joining us at this white house event. this is a very important and remarkable location. today we take a momentous step, one that has never been taken before with china, toward a future of fair and reciprocal trade as we sign phase one of the historic trade deal between the united states and china. together we are righting the wrongs of the past and delivering a future of economi

good to see you all, well it was during white house economic director larry kudlow's interview with our own stuart "varney" that the dow crossed 29,000 during the interview and retreated after the u.s. announced new sanctions on iran. kudlow though saying everyone has benefited from the booming economy, particularly those in the lower classes, take a listen >> the bottom 50% has increased their net worth by 47%, okay? second. the top 1% has increased their network by 13%. middle income people have retirement accounts and 401 (k) and they have had a fabulous period, actually its been a fabulous three years. david: so jackie how could democrats say the economy and market rally is working for the upper class when the lower class did pretty well too? >> they have to try to debunk the theory because that's what this president is going to run on in 2020. if you take what larry kudlow said and you take that as fact and i have no reason not to, it shows you that this economy is working for everybody. look you can't have an economy that's increasing 47% for the bottom 50% and the rich aren't get

let's talk about these issues the larry kudlow who is assistant to the president and director of the economic council at the white house. please welcome them.

visit ncicap.org] >> larry kudlow talked with reporters at the white house about the stock market, china take deals, and federal reserve monetary policy. according to the monthly report, of economy added thousands jobs and the clutter. -- thousands of jobs. the unemployment rate remained at 3.5%. >> this particular leg, we've had a tremendous bull market. the rising stock market is indicating a lot of consumer confidence and his forecasting an even stronger economy in the coming year. that is the way i read that. great.mbers look here's the thing, i made this point on another network. we have had a tremendous increase because of stocks and homes. household and consumer networks are up trillions in the last three years. this is a factual point from our cea. the bottom half of the population seen an increase of 47% in their household networks. the top 1% has seen an increase of 13%. i know the top 1% has much greater assets, i get that. but the rate of increase is coming in the bottom half, not the top. that is important, because that is the sign of an economy that has been restructured an

good to see you all, well it was during white house economic director larry kudlow's interview with our,000 during the interview and retreated after the u.s. announced new sanctions on iran. kudlow though saying everyone has benefited from the

reporter: melissa, interesting comments made today by larry kudlow standing here when liz claman intervieweddlow said if the luncheon that took place after the signing ceremony in the east room, the president says he believes phase two could potentially be easier to do than phase one though keep in mind phase one wasn't easy at all considering it took at least two years to get it done. at one point it seemed as if they were close and then all of it blew up. so, there is a long way to go potentially to get to that phase two. melissa: keep us all busy, blake. thank you. connell: adding one thing blake said to the president about the appearance at the white house. kind of interesting what he said, before he introduced bob robert lighthizer, he pretty much challenged american business leaders to get ready for phase two. let's quickly listen to this. >> ultimately in phase two, we'lling opening up china to all of your companies. so i hope you folks can handle it. connell: with that we bring robert hormats in, kissinger associates vice chairman, former senior economic advisor to henry kissinger al

. >> martha: we will talk to larry kudlow about that in a few minutes. good to see you tonight. >> great to be with you. spew republicans sounding a little more confident they may have the votes to block witnesses. but i do not think anybody knows quite yet. democratic senator mark warner has been pushing to hear from john bolton under oath. we spoke to him minutes ago and he is next. (whistling) (whistling) saving for ava's college. being able to retire on our terms. taking care of dad. why ameriprise financial? my advisor cares about my personal goals. he gives us comprehensive advice. i feel prepared for what's expected in life and even what's not. she helps us feel confident. we know our financial future is secure. with the right financial advice, life can be brilliant. ameriprise financial. >> martha: depends the way you see the wind blowing right now, but some is saying the republicans are sounding more optimistic tonight that they may have the votes to block witnesses once the action and answer period concludes. saying that mcconnell said that the

joe: that was national economic council director larry kudlow in davos.york, this is bloomberg. ♪ scarlet: coming up, don't miss this, texas instruments reports fourth-quarter results after the bell. joe: lor housing data existing home sales for december out at 10 a.m. eastern. scarlet: that does it for "what'd you miss?" "a bloomberg technology" is up next in the u.s. joe: have a great evening. this is bloomberg. ♪ s bloomberg. ♪ when you move homes, you move more than just yourself. that's why xfinity has made taking your internet and tv with you a breeze. really? yup. you can transfer your service online in about a minute. you can do that? yeah. and with two-hour service appointment windows, it's all on your schedule. awesome. so while moving may still come with its share of headaches... no kidding. we're doing all we can to make moving simple, easy, awesome. go to xfinity.com/moving to get started. and with the sxfinity stream app, screen is your big screen. which is free with your service, you can take a spin through on demand shows, or stream live t

president trump was talking about when he gets elected, now if you throw a middle-class tax cut as larry kudlowspeaking in fox business, well, then we have a bull game, folks, doesn't seem so crazy, now you want to buy the industrials, ge maybe, honeywell, those kinds of stocks, boeing even. ashley: bag of cement still better than a lump of coal, anyway, phil flynn, let's bring you in, phil, tons of cash still out there, the economy humanning -- humming along and liquidity and if we do get a bear market someone mentioned today lasted 30 minutes. >> i think 30 minutes might be long, i'm telling you. you know, you mentioned the garden supplies because they legalized pot in illinois. [laughter] >> big business over here. no, i mean, really, let's face it, i'm going to say what i've said before, the thing that's going to kill us that's out there right now is something that we don't know about. i think the economy is in great shape, the u.s. consumer, listen, they vote with their pocketbook, that's where the confidence you're going to see and also makes me feel better about the upcoming election, yo

national economic council director larry kudlow told me right here last week at the white house thatno was quote, out over his skis on charlie's report that tax cuts 2.0 were coming. what is charlie saying today? oh, god. yes, we have to hear him say told you so. charlie breaks it when "the claman countdown" comes right back. at fidelity, online u.s. stocks and etfs are commission-free. and when you open a new brokerage account, your cash is automatically invested at a great rate. that's why fidelity leads the industry in value while our competition continues to talk. ♪ talk, talk woi felt completely helpless.hed continuonline.alk. my entire career and business were in jeopardy. i called reputation defender. vo: take control of your online reputation. get your free reputation report card at reputationdefender.com. find out your online reputation today and let the experts help you repair it. woman: they were able to restore my good name. vo: visit reputationdefender.com or call 1-877-866-8555. my body is truly powerful. i have the power to lower my blood sugar and a1c. because i can s

lou: larry kudlow is not doubting wednesday. >> all solare kudlow saysooooo -- all solar are you kudlows there will be no text of the deal released before the signing. the markets think it's mow pen to us. we'll have to wait to see what it looks like after they release the text. lou: on a programming note. we'll be talking with the u.s. trade representative robert lighthizer this coming monday evening. we hope you will be with us monday. up next, investigative journalist john solomon. ♪music and (bus sndfx) ♪what you want, baby i got ♪what you need, you know i got it♪ ♪all i'm askin' is for a little respect♪ excuse me ma'am, would you like to have my seat? ♪r-e-s-p-e-c-t ♪find out what it means to me♪ ♪r-e-s-p-e-c-t ♪take care. tcb, oh ♪(sock it to me, sock it to me, sock it to me, sock it to me)♪ ♪a little respect lou: among the stories we are covering, the trump economy rolls on. employers adding 145,000 jobs. the unemployment rate remains at 3.5%. that's a half century low. nancy pelosi caving to the senate saying she'll hand over the articles of impeachment after failing to wrestle

good to see you all, well it was during white house economic director larry kudlow's interview with our00 during the interview and retreated after the u.s. announced new sanctions on iran. kudlow though saying everyone has benefited from the

lou: larry kudlow is not doubting wednesday. >> all solare kudlow saysooooo -- all solar are you kudlowgning. the markets think it's mow pen to us. we'll have to wait to see what it looks like after they release the text. lou: on a programming note. we'll be talking with the u.s. trade representative robert lighthizer this coming monday evening. we hope you will be with us monday. up next, investigative journalist john solomon. most people think of verizon as a reliable phone company. but to businesses, we're a reliable partner. we keep companies ready for what's next. (man) we weave security into their business. (second man) virtualize their operations. (woman) and build ai customer experiences. (second woman) we also keep them ready for the next big opportunity. like 5g. almost all of the fortune 500 partner with us. (woman) when it comes to digital transformation... verizon keeps business ready. my age-related macular degenso today i made a plan with my doctor, which includes preservision... because he said a multi- vitamin alone may not be enough. and it's my vision, my morning walk

but larry kudlow says the rest of the world is hearing a very different story.st night. watch this. >> -- a lot of the ceos at several dinners and lunches and whatnot, probably a couple hundred ceos, and what i heard again and again was oh, i had no idea of the facts. i had no idea of the achievement. i think one of the -- well, actually, there's something to that. i mean, it's again this cognitive dissidence that's running around in the country with bad information. stuart: south dakota senator joining us now. i can explain this senator and i'm sure you can too. it is the media. the media is obsessed with impeachment. won't give president trump credit for anything. i'm right, aren't i? >> yes, you are correct, and they most certainly are very much engaged in the impeachment process up here. but at the same time, you can't argue with some of the results we've had already. look at what the markets have done. look at how the economy is moving. look at the number of people that actually have jobs in the united states today that didn't have them earlier and payrolls

i've known larry kudlow since we were in our 20s. kudly is what we call him today. doesn't seem as cuddly today as he was back then i have a high respect for larry. i think he has done a very good job in informing and sometimes restraining the president. he's paid to be optimistic here. we'll have to see whether that big of a hit to gdp will occur the fed studies have been done as to the cost of the trade restrictions that trump imposed would verify the kind of number that larry is talking about. the question is, over what time? the fed studies have shown, and this has been announced publicly, that it set gdp growth back by half a percentage point. if that's the case, if that's the case, then relieving this tension should add to gdp growth we'll see. >> if you're sitting in the room with jay powell today and you have this news and you see where the stock market is, as i mentioned earlier, the dow is going for its first-ever close above 29,000 after getting above that historic level last week. what are they thinking today >> well, i think they are seriously thinking a

economic council director larry kudlow this is bloomberg. -- larry kudlow.is is "bloomberg surveillance ," live at the world economic forum. alongside tom, i'm jonathan ferro. what have we got coming up? shifting over the years, we had dr. bremmer earlier and a speech by the president of the united states. we will have some of that here. to the line above the guests forward on american banking.

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we got larry kudlow's take on the eu and u.s. talks. >> we have china, we have usmca.ndwidth to focus on europe. netflix shares climb in extended trade. the company plans to boost spending by 20% this year. ♪ >> the risk picture is looking more rosy today. asian equities recovering the ground they lost yesterday. u.s. and european futures are higher. the yen weakening back through 110. we get all the market action from around the world. manus: we do indeed. the dax in europe is set to open at a record high. it comes down to the south korean data. juliette saly in singapore. any burger in london. is the data that sings in the market this morning. juliette: south korea data was a positive for markets. we are seeing an impact of the coronavirus. stocks paring earlier losses. macau reporting its first case of coronavirus. asking all casino staff to wear masks. you can see weakness in the gaming stocks. health care plays are rallying. top love in malaysia makes -- gloves, up 16% since the outbreak. you have the mask maker coke in japan up another 5% after a 17 % yesterday.

larry kudlow back from the high mountains and tall cotton.t's it back to be back with a regular fella like me. >> it's always good to talk to you, especially after davos and the so-called global elites. the president was at the top of his game and gave a brilliant speech to the crowd. he carried the day with his optimism and his emphasis on economic growth beep called the american model. free enterprise. talking about the blue collar boom we are having. the middle and more wage owners have the fastest wage growth, outstripping the managers. the increase in consumer wealth, the bottom 50% got almost half of the increase. 3.5% unemployment rate. you go down every demographic category at virtually historic lows. even the millennials are working. it's interesting to me, you were talking about impeachment and all of that. lou: i got a few words in earlier. >> the folks on the other side of the aisle will do anything not to talk about this economy. and the blue collar boom. i just want to say, you know, at some point they will have to give way. the

and at 9:30 a.m., national economic council director larry kudlow two very big interviews. earnings are in focus again with results from bank of america and goldman sach on deck. will ford frost is here with more coming up after this break. ♪ when you look at the world, what do you see? ♪ where others see chaos, we see patterns. ♪ connections. relationships. ♪ when you use location technology, you can see where things happen, before they happen. ♪ with esri location technology, you can see what others can't. ♪ i can. the two words whispered at the start of every race. every new job. and attempt to parallel park. (electrical current buzzing) each new draft of every novel. (typing clicks) the finishing touch on every masterpiece. (newborn cries) it is humanity's official two-word war cry. words that move us all forward. the same two words that capital group believes have the power to improve lives. and that, for over 85 years, have inspired us to help people achieve their financial goals. talk to your advisor or consultant for investment risks and information. high protein. l

let's get to the white house, speaking on trade we have larry kudlow. the heavy lifting here was getting phase one, nothing like this has ever happened before in history. you may be cynical and that's your job, i appreciate that and i have been on your side of the street in my career, but i'm least on paper, with enforcement, -- and the fact that it happened is historic. >> was this the only deal? the best deal? it's the best deal, it's a terrific deal. and as i said on one of the other programs, the stock market has been rallying for a lot of reasons. came lot of it is -- this up at our dinner last night, this is good for america's economy, china's economy, it's good for the world economy. the cooperation on trade and the economy is certainly improving. we have shown it could be done. it's definitive -- is a definitive or final? we will see, but nothing like this has happened before. in all honesty i know you will say it's my job, i don't care which side of the isle you're on, this is historic. >> [indiscernible] are there any discussions about future

. >> we heard larry kudlow talk about interest rates staying low for a long time, $250 trillion of debt in the world, something like that now. do you think we will be sitting here in five years with $500 trillion of debt? is the imf concerned about that? >> very interesting at the , annual meetings this year, that was the biggest hotly debated issue. low for longer, low forever. the conclusion in the room was twofold. that is where we stand at the imf. the first one is that we do need to appreciate low interest rates as a contributing factor to growth over the last years. if we did not have low interest rates, growth this year would have been half a percentage point lower. 2.5% is lingering in recession territory. that is not happening. but when it is prolonged, what happens is in search for yields financial institutions and , nonfinancial financial institutions are taking excessive risks. so sooner or later, that risk may come to bite us. in addition to that, we have to recognize that the underlying reason for low interest rates , larry talked about markets, it is this sleeping beauty

. >> we heard larry kudlow talk about interest rates for a long time, $250 trillion of debt in the world. is the imf concerned about the? -- about that? >> at the annual meetings this year, we see the issue low for longer, low forever. the conclusion in the room was twofold. the first one is that we do need to appreciate low interest rates as a contributing factor to growth over the last years. if we did not have low interest rates, growth this year would have been half a percentage point lower. 2.5% is lingering in recession territory. that is not happening. but when it is prolonged, what happens is the search for yields -- financial institutions and nonfinancial financial institutions are taking excessive risks. so sooner or later, that risk may come to bite us. we have to recognize that the underlying reason for low interest rates that larry talked about, it is this sleeping beauty called productivity. think rightly so, many of minute, weng wait a cannot possibly only contain the conversation to monetary policy. we have to talk about fiscal policy and structural reforms. we have to wa

we have comments from people, likely just played at larry kudlow saying there are things on ip theftnd detect transfers and other things, but we have not seen the nuts and bolts. so i think that is the first thing that we need to check off the list. after that, we see potentially the phase two part of the deal starting. that being said, donald trump said this week it may not come until after the election. so i think there is skepticism about if he is reelected, will that ever come, will the political motivation be there for him? taylor: isaac, your thoughts on what we have in phase one, and if it leads us closer to face two. isaac: i think it has to lead us closer because it is already going in that direction, but i also think we have a very little in phase one, it is like an agreement to have an agreement. and it seems pretty short on details. i also, with donald trump saying, maybe we have to wait until after the election, it really does seem to be a trust me, i am working hard for you, here is a little bit of a deal, vote for me and you will get more of a deal. we heard at larry k

well larry kudlow was in the white house press briefing room today. he was asked about that and what the administration's view is on the act. here's what he said. >> we are aware of it and we are looking at it and we've heard complaints from some companies so i don't want to say anything definitive policiwise k but we are looking at it. >> so saying he doesn't want to say anything definitive policiwise and the administration's stance, but we are looking at it. that is we are looking a the foreign corrupt practices act with with a view to changing it in some way that would make it better for companies or easier for american companies, which are caught up in bribery vegas situations overseas. i've asked aides to expand on kudlow's comments and explain what the administration plans to do can't get rid of the law as the president of the united states you have to get congress to do that, but the department of justice enforces this and presumably the department of justice under president trump if it wanted to, could take steps to change the way that law is

just after the report, and interview with larry kudlow.mployment rate is forecast to hold steady at a 15 year low of 3.5%. way, weekend watch for an election in taiwan. news for that coming out saturday in the evening. monday, the determined winner. of ouret's get to one top stories. the continuing tension between the u.s. and iran, and in to thatar, what happens aircraft that went down in iran. the iran story is that a meeting of foreign ministers is taking place in brussels today. maria tadeo is in the ground. we have -- is on the graph. -- what have we heard so far? >> the conversation really has shifted because of the information that came out from canada. justin trudeau overnight shot down,he plane potentially not intentionally by iran. part of theot european union, but has a very close working relation with the european union and they will want to find out what happens , how it wasat plane shot down if it was. made the decision. -- who made that decision. to number one goal is de-escalate tensions in the region. they feel at this poi

larry kudlow. where's larry? [ applause ] >> where is larry?had a day where the market went down $1 trillion. think of that. in other words, it was one of those few days because we had 141 days we hit all time highs. we just broke -- as you know, we just broke the 29,000 on the dow, markets up substantially today. with all these business leaders, i'm sure they don't care. larry kudlow went out into the beautiful lawns of the white house. actually, he was standing in the middle of the rose garden. he had a beautiful scarf waving in the wind, he was everything perfect, right out of greenwich, connecticut. he started talking, and by the time he finished, i said, you just made a trillion, because the market just went up 250 points. i said, larry, what the hell did you say? it didn't matter, we were even. went from being down a trillion to even. it was pretty good. larry, you've been particular, thank you very much. appreciate it. [ applause ] >> by the way, i see in our audience, our great abd to china, right, governor. we had the governor of iowa,

larry kudlow. where is larry? where is larry? [ applause ] >> we had a day where the market went down $1 trillion. think of that. in other words, it was one of those few days because we've had 141 days where we hit all-time highs and we just broke the 29,000 mark on the dow just now as we were walking in. markets up substantially today. [ applause ] >> with all these business leaders, i'm sure they don't care. but larry kudlow went out onto the beautiful lawns of the white house, he was standing in the middle of the rose garden, he had a beautiful scarf waving in the wind, he was everything perfect right out of connecticut. and he started talking, and by the time he finished, i said, you just made a trillion dollars. the market went up 250 points. i said, larry, what the hell did you say? and i didn't matter. we were even. we went from being a trillion down to even. larry, you've been fantastic. thank you very much. appreciate it. [ applause ] and, by the way, i just see in the audience our great ambassador to china, governor. we

listen to white house economic adviser larry kudlow here. >> re-elect president trump for four more years and you will get lower tax rates and lower tax burdens. you will also get more reductions in regulation. you will also get additional trade activity negotiations and trade deals that will open markets. reporter: and the trade deals are part of that. on usmca here, the president is now waiting again on house speaker nancy pelosi, the ratified usmca is over in the house and needs a signature from a house member in power there before it can come here to the white house for the president to sign. you talk about trade. the european union now is the shift in focus for the white house and this administration. now, the eu has a new negotiator, commissioner phil hogan. he's trying to reset this relationship and avoid tariffs on autos as well as auto parts. his boss, the new eu commission president, gave him a clear directive. listen. >> she has given a clear commitment that we need a positive balance and mutually beneficial trading partnership with the united states. she's given a clear commit

we will have larry kudlow, u.s. economic council director, at 9:30 a.m. new york. speaking of jobs, this may be one of the most eye-catching help wanted ads in recent years. pick $100,000 to manage a taco bell. they chain is going to test out higher salaries in chains and the midwest. like a lot of restaurant companies, taco bell is hoping to try and find new ways to recruit and keep workers. coming up, much more on your morning trade and analysis of the markets in today's first take. this is bloomberg. ♪ alix: time now for bloomberg first take. with me from our in-house team of wall street veterans and insiders, carl riccadonna, alsont cignarella, and with us, constance hunter, kpmg chief economist. happy jobs friday. carl, i'm going to go to you first with the call on jobs. carl: we are above consensus. consensus is about wondered 60,000. the trend with the last jobs report of the decade is about 185,000. we are looking for 205,000. i think a couple of factors help us. temperate conditions should support the construction sector. manufacturing, any downward trajec