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Squawk on the Street

Markets and Fed Decision Week, UAW Strike Day 4, Apple iPhone 15 Demand in China 9/18/23

Squawk on the Street

CNBC

Investing, Business, News

4.1567 Ratings

🗓️ 18 September 2023

⏱️ 44 minutes

🧾️ Download transcript

Summary

Carl Quintanilla, Jim Cramer and David Faber explored a new week for the markets, as investors await Wednesday's Fed decision on interest rates. The anchors engaged in a wide-ranging discussion about the impact of the United Auto Workers' strike against Detroit's Big 3 automakers, now entering day four. Phil LeBeau joined the conversation while reporting from a picket line in Toledo, Ohio. Also in focus: Apple reportedly witnessing strong iPhone 15 demand in China, Tim Cook on the "Vision Pro" headset, cyberattack impact on Clorox, Tesla said to be in EV factory talks with Saudi Arabia, a slew of upgrades and downgrades. Squawk on the Street Disclaimer

Transcript

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0:00.0

Market Insight and Analysis. You're listening to the opening bell of CNBC, Squawk on the Street.

0:05.7

Good Monday morning. Welcome to Swalk on the Street. I'm Carl Kintanian with Jim Kramer, David Faber, post nine of the New York Stock Exchange. Stock's kicking off the week, mostly in the red, with plenty to monitor or Fed decision this week. The auto strike enters day four, IPO is on deck, oil near 92, another fresh year-to-date high.

0:22.5

Our roadmap begins, though, with the big week ahead for investors. The auto strike enters day four, IPOs on deck, oil near 92, another fresh year-to-date high.

0:22.1

Our roadmap begins, though, with the big week ahead for investors.

0:24.9

The Fed's next decision front and center.

0:27.1

We're going to talk to Treasury Secretary Yellen later this morning.

0:30.1

And auto strikes day four with both sides digging in the UAW, rejecting the latest wage hike proposals,

0:36.1

while both Florida and GM announced temporary

0:38.4

layoffs due to the ongoing walkout. Plus Apple reportedly seeing strong iPhone 15 demand in China,

0:45.9

and Tim Cook says the Vision Pro remains on track. Let's begin with the markets as we do kick

0:53.1

off a new week. Jim, we didn't get to

0:55.0

check in with you on Friday. Any degradation, do you think, in this idea of a soft landing, even the

1:01.2

journal today sort of takes a look at how it gets a little tougher from here. Well, I do think

1:05.7

that this auto strike is potential to be very disruptive.

1:11.1

I think that oil, clearly, to me, is headed to 100 before it goes lower.

1:16.1

That's negative.

1:18.3

The higher interest rates are starting to bite.

1:21.4

There's a really interesting call for Lenore where Stuart Miller, is the executive chairman last week.

1:26.4

He was talking about the idea that the buyer is getting used to the idea that they have to pay more.

1:32.3

That's the embedded inflation that J-Pound most fears.

1:37.3

So I don't think it's such a great week so far.

1:40.3

Setting up is a bad week.

...

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