It's Jim Kramer here.

You're listening to the opening bell of CBC Squawk on the Street. Don't miss a minute of the action. Good Tuesday morning. Welcome to Squawk on the Street. I'm Carl Kintaneda with Jim Kramer at Post 9 of the New York Stock Exchange. David Faber has the morning off. Stocks do look to reverse some of Friday's last-minute surge and now braces for a busy week with Jobs Friday, eyes on the historically treacherous month

of September. A roadmap begins with this first trading day of the month. The S&P rides a three-week

win streak going into the new month, Dow touching its 26th record close of the year. Elliot now

holds 10% of Southwest Common, allowing the company to call a special meeting at the carrier.

And then there's Intel looking to trim down what Pat Gelsinger has in store for the chipmaker.

Let's begin, though, with stocks kicking off September in the red.

That Friday session, Jim, was something else in the last hour.

Well, look, when you have that happen ahead of September, you think that somebody knows something.

So when you come in and they obviously don't know anything, you just say, like, who did that?

And why would they be underwater Friday before Labor Day?

I mean, I guess you can move it.

Maybe someone has the somebody has the S&P in a draft and decided to move up.

I mean, honestly, I thought that was just meaningless.

And sure enough, they come back with a vengeance.

They don't just give it up.

Although they weren't so negative last night.

So sometimes you feel like something happened overnight, and then you realize, no, that Friday move was wrong.

We're going to hear all of the annual warnings about the seasonality in this month,

except for when you're up 15 into August end.

Right.

And look, I don't want to go bet against the Fed.

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