It's Jim Kramer here. You're listening to the opening bell of CBC's Squawk on the Street. Don't miss a minute of the action. Good Tuesday morning. Welcome to Swack on the Street. I'm David Faber. He is Jim Kramer. And we're live from Post 9 at the New York Stock Exchange. Carl's on assignment today. Let's give you a look at futures. Of course, if you've been paying attention, you know we are set up for a far higher open

bit of a change to what we've been seeing of late certainly uh when we get to the open but that's

still a half hour from now let's get to our roadmap of course as you might expect it is about

that bounce and whether it will stick wall street is looking for some reprie Of course, after suffering would have been the biggest equity losses we have seen in the broader market since the pandemic.

Plus, expanded Trump tariff threats.

Now, China is vowing to, quote, fight to the end.

That's a move which Treasury Secretary Besson calls a, quote, big mistake.

And we're also going to keep an eye on the health insurers.

Good news if you own them.

Stocks are up strongly.

This is after a larger than expected boost to the reimbursement of their Medicare Advantage plans.

We will talk about that, Jim, as well.

CMS had a call yesterday at 530, sort of explaining the rationale behind it. Yeah, it was pretty interesting. But, of course, we've got to start with the markets. I'm curious as to where your head's at. I've been trying to talk to as many people as possible, of course, both those who are allocating capital and those who are running companies. What's your take this morning, Jim? Well, I think that those are running companies are saying what the heck is going on here. We're trying to run our companies. Suddenly we find that a country that we've dealt with for a long time, we have to just say, wait a second, we're going to put a surcharge on. We're going to pass through. So the issue is who can pass through and who isn't, who has pricing power. It's often like that. Who has scale? Who has pricing power? Who can tell the Chinese, listen, we're going to go away, of which then you have out of stock parts, and who says, okay, we'll split the tariff. When it comes to money managers, I think money managers are looking at this snapback and saying, listen, just ignore it or use it to get out because tomorrow is decision day.

And China's not going to blink.

Japan will blink, by the way, Dan.

I think a lot of people feel that, wait a second, if Japan's willing to blink, then China should.

But China's not going to.

So when we come in tomorrow, it's going to be, well, China isn't blinking.

Let's take numbers down.

And numbers down move stocks lower.

You know, I've heard two different points of view from the, let's call it the hedge fund community this morning.

Well, obviously I talked to a lot, Jim.

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