GoKawiilThis is CNBC's Morning Squawk newsletter. Subscribe here to receive future editions in your inbox. Happy Friday. There are vastly different numbers floating around about the great wealth transfer. CNBC's Robert Frank explains why the estimates can vary so widely. Stock futures are sliding this morning following a down session yesterday. Here are five key things investors need to know to start the trading day:
1. Blown fuse
Taiwan Semiconductor Manufacturing Co. (TSMC) signage on the floor of the New York Stock Exchange (NYSE) in New York, US, on Friday, Jan. 2, 2026. Michael Nagle | Bloomberg | Getty Images
2. Net negative
In an aerial view, the Netflix logo is displayed at a company office on May 12, 2026 in Los Angeles, California. Justin Sullivan | Getty Images
Netflix 's second-quarter results were roughly in line with Wall Street's expectations, but disappointing earnings guidance from the streamer sent the stock down more than 11% in extended trading. Netflix also said Thursday that it would reduce the frequency of its "What We Watched" engagement reports. The metric has been in the spotlight following reports that viewership for the streamer's series drops after the first season. Still, the company described engagement with its content as "healthy." Netflix raised subscription prices earlier this year. It said the results of those hikes were in line with its expectations and past raises.
3. Pulse check
U.S. President Donald Trump meets with New York City Mayor-elect Zohran Mamdani at the White House in Washington, D.C., U.S., Nov. 21, 2025. Jonathan Ernst | Reuters
Americans are increasingly pessimistic about the economy, and they're blaming President Donald Trump, according to CNBC's latest All-America Economic Survey out this morning. Roughly 60% of those surveyed said they had a bad view of the current state of the economy and the outlook for the future — the highest such reading since late 2023. About the same percentage said they disapprove of how Trump has handled the economy. The president's net approval rating stands at 40%, according to the poll. The survey also found that voters would more likely support a democratic socialist candidate than a Trump-endorsed candidate or candidate tied to the Make America Great Again movement. But socialism is still less popular than capitalism in the U.S., according to the poll.
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