Good Thursday morning again. Welcome to Squawk on the Street. I'm Sarah Eiffin with Michael

Santoli today live from post nine of the New York Stock Exchange. Carl has the morning off. Shares

of Apple and Intel on the move. Apple planning to raise iPhone prices as memory and storage cost

surge. Well, President Trump says the company

is now working with Intel on chips. We'll explore what it all means for investors. Plus, oil

prices falling as the U.S. and Iran signed a preliminary ceasefire deal. Carlisles, Jeff Curry,

is with us. Find out why he thinks the challenge ahead may be greater than the war itself.

And investing in the Knicks as New York City celebrates the team's NBA championship.

Investors in parent company MSG sports, they're also celebrating a massive win.

Shares are nearly up 100% in the past year, a near record high.

We're going to explore what's to come as CEO James Dolan moves

ahead with split plans. Right now, markets are rebounding from yesterday's afternoon decline

following Kevin Warsh's press conference, first as Fed Chairman. S&P 500 up about 1% led by the NASDAQ

and most specifically chips. Once again, the market goes to its comfortable place of grabbing for the sort of higher

beta semiconductor stocks up 6.3 percent, although it is broader and some of the cyclical

rate sensitive stuff that got hit yesterday afternoon is also bouncing back.

Is it your expectation that's just going to be a bumpier ride here if he's not going to give us forward guidance?

I think that's almost the point, actually, is to build in a bigger risk premium and allow the markets to kind of use wider swings in pricing to try and figure out the answer.

We'll see if that actually happens.

I think the market's still going to be fixated on trying to figure out what the Fed's decision-making process is, even if they're not going to tell us with any clarity. So, you know, today, given that the market didn't expect to move, given that the rates, yields are coming back in off of yesterday's highs, it seems like there's a little bit of a, you know, let's take a beat and not overreact to what might not have been a radical change.

We'll see. Well, let's bring in Wells Fargo's chief equity strategist, Oson Kwan, to talk more about markets and how they're digesting kind of the macro picture here.

We had this strong patch in growth. Obviously, earnings have been very powerful to the upside.

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