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

Good morning and welcome to Squawk on the Street. I'm David Faber along with, yeah. His name's Jim

Kramer. He's been away for like months. Five business days. Months. Five business days. We are together.

We're live in the New York Stock Exchange. Unfortunately, we're still missing one more, but he'll be back soon. Carl is on assignment. He is actually on assignment. Taking a look at futures this morning as we get you set up, of course, for the day ahead, start trading 30 minutes from now. You can see we are set up for a higher open. And that does take us right to our roadmap, of course, because the market is up because, well, trade talks at least are back.

The U.S. and China agreeing to meet next month and stocks, as you saw, reacting positively to that.

We're going to talk a bit about Goldman shrinking the partner ranks.

Interesting story, up to a dozen executives reportedly negotiating the exit.

Is it a sign of a broader shift for this Wall Street bank?

And shows of Palo Alto. They are up. As you can see, CEO Nikesh Aurora joins us exclusively in a few minutes.

They're up ahead of the ballot course this morning. We'll be talking with Nikes. Let's start, though,

with the markets this morning. Chance for Jim and I to sort of get back on the same page as to where things stand right now.

We also got fairly positive ADP numbers, $195,000 private sector jobs added in August.

That was above the estimate. Jim, the consumer continues to be quite strong in this economy.

I heard you talking to Joe about, you know, we're the only ones

that talk recession. And we got a 10 year above 1-5 again. I thought that when I saw the,

it's like the bonds also rise. I mean, I think that what we've seen is this endless yield going

down versus, say, where the one year is, has just spoken so loudly to people

that, unless the Fed cuts dramatically, the downbeat, drumbeat of recession will continue.

I continue to look at employment. I keep waiting for some sign of weekly claims being not good.

I keep waiting for some number, which indicates to me that retail sales are bad. I don't get it.

And so I tend to think that we do, I've stopped on the street by a construction guy, right here.

Really? Yeah. Okay. I'd like to talk to the construction. Yeah, of course. Why not? The giant projects will last like 17 years here. There's a lot of them. We'll be dead by the time they finish the bankers trust building, right? Yes. The guy grabs me. He goes, hey, what is this with the recession? And I said, don't look at me. He goes, I am looking at you. You, you're talking recess.

...