Trump on China, Broadcom Soars to $1T Valuation, UNH CEO: Fix "Flawed" Health Care System 12/13/24

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Jim Cramer (1:01)

It's Jim Cramer here. You're listening to the opening bell of CNBC's Squawk on the Street. Don't miss a minute of the action. When President Reagan was here, he talked about putting the bear into hibernation, letting the bull run free. Sound like a good motto?

Donald Trump (1:15)

Sounds perfect. I can't do any better than that. That's what we're gonna do.

Carl Quintanilla (1:20)

President-elect Trump with Jim yesterday here at the New York Stock Exchange as markets continue to try to price in some changes of a new administration. Good Friday morning. Welcome to Squawk on the Street. I'm Carl Quintanilla with Jim Cramer here at Post 9 Faber has the morning off. Futures fairly steady on some solid corporate results. Tenure yield, though, up every day this week, now at the highs of the month. Our roadmap begins with the Trump transition, the future of SALT, the FDIC, some new trade threats from China and Canada, Broadcom surging on the cusp of a trillion dollar market value, and UNH's CEO with an open letter this morning saying the health system is flawed and needs to be fixed. Let's begin though with the President-elect's historic visit to the NYC. Jim certainly made the rounds on the wires, and he did break a fair amount of news, both here and upstairs.

Jim Cramer (2:06)

Right, look, I think that we could talk crypto. He obviously feels it's very important, it's really important. We had that nice sound bite about the bear, but I thought the most important thing was China.

It starts out, I have a good relationship with shit. Now, that was not what I was looking for at all. I thought this was a chance to say, listen, I don't like the way I've got my hawks basically telling me, look out, he has a lot of hawks. And then he says, look, but if it doesn't work out, I know you guys have done bad things, whatever. It's almost as if he said, you know what, I'm going to personalize diplomacy. I'm going to be like Nixon, I'm going to be like Kissinger. I have my advisors, but I am going to make this to be, President Xi, you're going to deal with me. It was almost like I expected either an invitation to the inaugural or an invitation to Mar-a-Lago. And there was definitely something that he was signaling. That was not idle. And I think that those who think that that wasn't the most important part of our interview may not realize that there's something afoot here. I think that the president is saying we have to end this trade war one way or the other. We end it good by making it so that the US wins because you need us, or we end it bad. And if we end it bad, then you're a loser and we may be okay. So I think personal diplomacy is coming up.

Carl Quintanilla (3:25)

That's interesting. Certainly after the reports of the invitation to Xi to the Inaugural, which we now don't think is going to get accepted. But as a reminder, here's what the president-elect did say, Jim, about that yesterday.

Donald Trump (3:37)

We have a lot of talks with China. We have a good relationship with China. I have a surprising relationship. Now when the COVID came in, I sort of cut it off. That was a step too far. That was, as they say, a bridge too far. But we've been talking and discussing with President Xi some things and others, other world leaders. And I think we're going to do very well all around.

Carl Quintanilla (3:58)

Now the Journal weighs in with China's moves on NVIDIA and drones and minerals. And then Canada, this report, they're weighing in export tax. How do you think other countries are responding?