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 and welcome to Squawk on the Street. I'm David Favor with Sarah Eisen and Bob Pisani. We're live from Post 9. The New York Stock Exchange calls on assignment and Jim has a well-earned day off. Let's give you a look at futures before we start trading a half hour from now. We are set up for what appears to be a higher open. And that gets us to our roadmap, which does, as you might expect, begin with the market. That rally rolls on the Dow and the S&P, both coming off. Fresh records, energy is leading the way to start this week.

Plus, speaking of energy, Energy Secretary, Jennifer Granholm, will join us live here at Post 9 after ringing the opening bell,

chucking everything from oil prices to the reopening of Three Mile Island.

And the CEO of Novo Nordus set to testify before a Senate panel this morning over the high prices of its popular weight loss drugs. We're live in D.C. ahead of that hearing. All right. Let's start with the markets.

And, of course, what is a record run that continued yesterday? Bob is signing. Nice to have you here

at the desk. A pleasure. And a good way to start the morning in terms of just give us a sense here

as to where we are are what you expect as we

wrap up September this week as I have listened to you typically not a great one for the

market in terms of history there are two really bad weeks and we are in them last two weeks

of September are traditionally the worst two weeks of the year and of course so far everything's

been wrong September is also the worst weeks of the year. And of course, so far, everything's been wrong. September is also

the worst month of the year. Normally, it's down one, two percent. Last few years it's been down

four percent, and yet we're up one percent. So this tells you about the value of being careful

about thinking that events that happen in the past necessarily predict the future. With all that said, I think there's a lot of reasons to be positive. We've talked about this a lot here. The Fed is in an easing mode. That is a huge positive right now. The economy, there is no recession that is going on. You could say a slowdown, but there's certainly no recession going on. Inflation is declining. Earnings are growing.

Yes, there are some negatives that are out there.

Jamie Diamond highlighted one of them today, but we talked about the seasonality factor that

generally weighs on stocks in September and into October.

That's certainly in the middle of that.

We have the elections coming up,

a little uncertainty around that. And Jimmy Diamond, speaking about geopolitical risks today

as well. I think if you ask me, David, the thing that I find a little bit worrying is the

markets, and Sarah, maybe you have the thoughts on this, the market's really discounting and enormous amounts of rate cuts out there. We have another what? On top of the 50, we're already, at least another 150 basis points and cuts. 200 until the end of next October. So there you go. Very excited about rate cuts. That's a lot of expectations for a lot of rate cuts. And in a sense, to me, that's a little bit of a risk now, because once again, just like they did a year ago, they're getting ahead of themselves in terms of how much the Fed. They were wrong last year, the market, about when the Fed was going to begin cutting rates and how much. And I think they're probably a little bit aggressive. So if you ask me, that's a little bit of a risk in the markets. But right now, boy, if you just look at the sector leaders, they are not indicating there's any slowdown, any kind of recession out there.

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