Carl Quintanilla and Jim Cramer discuss the market gains, as the S&P continues to creep toward a record high after railing to notch it last week. Goldman’s David Kostin boosting his S&P target by 20% raising his forecast to 3,600 from 3,000. The U.S. Postal Service is front and center as Democrats are calling for its chief to testify at an “urgent” Congressional hearing over elections concerns. House Speaker Nancy Pelosi says she’s calling the House back to vote on a bill that would prohibit the Postal Service from implementing nay changes to its operations or level of service. Plus, Carl & Jim go whale watching. Buffett’s Berkshire Hathaway making a new investment in Barrick Gold, while cutting its stakes in Wells Fargo, JPMorgan Chase, as well as completely exiting its investment in Goldman Sachs. Pershing Square’s Ackman increasing his stakes in Restaurant Brands and Lowe’s in the second quarter. Tepper loads up on new stakes in AT&T, Visa, PayPal, Disney and Mastercard. And Third Point takes stakes in Activision & Facebook. The President is continuing his push against Chinese tech companies, saying he’s considering a ban on Alibaba. And a report out of Reuters saying the U.S. is going to be tightening restrictions on Huawei’s access to technology & chips.
Squawk on the Street
S&P 500 Creeps Towards A Record, Postal Problems, Whale Watching, Trump Administration vs. China Tech
Carl Quintanilla and Jim Cramer discuss the market gains, as the S&P continues to creep toward a record high after railing to notch it last week. Goldman’s David Kostin boosting his S&P target by 20% raising his forecast to 3,600 from 3,000. The U.S. Postal Service is front and center as Democrats are calling for its chief to testify at an “urgent” Congressional hearing over elections concerns. House Speaker Nancy Pelosi says she’s calling the House back to vote on a bill that would prohibit the Postal Service from implementing nay changes to its operations or level of service. Plus, Carl & Jim go whale watching. Buffett’s Berkshire Hathaway making a new investment in Barrick Gold, while cutting its stakes in Wells Fargo, JPMorgan Chase, as well as completely exiting its investment in Goldman Sachs. Pershing Square’s Ackman increasing his stakes in Restaurant Brands and Lowe’s in the second quarter. Tepper loads up on new stakes in AT&T, Visa, PayPal, Disney and Mastercard. And Third Point takes stakes in Activision & Facebook. The President is continuing his push against Chinese tech companies, saying he’s considering a ban on Alibaba. And a report out of Reuters saying the U.S. is going to be tightening restrictions on Huawei’s access to technology & chips.
- Broadcast on:
- 17 Aug 2020