Market insight and analysis. You're listening to the opening bell of CNBC, Squawk on the Street. Good Friday morning. Welcome to Squawk on the Street. I'm Carl Kinteneo with Jim Kramer at Post 9 of the New York Stock Exchange. David Fabers on assignment. Bulls trying to shake off some of these China concerns that have dinged Big Cap Tech. Apple is up slightly pre-market. We await some used car inflation data watching POTUS at the G20 today.

A roadmap begins with the macro, though, and the Fed. Williams says rates are in a pretty good place.

Goulsby suggests hikes almost done, while Dallas's Lori Logan says more hikes may be coming.

Goldman is planning a new round of cuts. You'll hear what David Solomon told favor yesterday.

And the UAW rejecting GM's latest counteroffer, B of A now saying that a strike is, quote, almost guaranteed.

Let's begin with the markets, though, in the NASDAQ's four-day losing streak. Jim, had some firms come out,

Morgan Stanley try to defend what's going on with Apple, at least?

Look, I, the work that I've done, I spent a lot of time on yesterday, say that it's just political ammo.

We have to be careful how much we put in to the idea that there is a real war against Apple.

Their Huawei phone is selling well, but that's not unusual.

Huawei is the preeminent phone there, and I know that they feel that, well, it's 5G.

All these things were every time we've had a new phone from Huawei, it's been a triumphant

phone. I mean, it's a slope phone. People like it. But this has killed in NASDAQ.

And what you saw was some separation yesterday. You saw people buying stocks that were not

semiconductor related, but just trashing all the semis. Semis still called a tune in the NASDAQ.

The enterprise software was very strong yesterday. So I don't know. I mean, I look at this and I just say

it's September. And September is a month that I don't know. I mean, I look at this and I just say it's September.

And September is a month that you don't like the stock market. And what you're seeing is everything

is kind of magnified. The bad is magnified. Sure. Morgan Stanley, Eric Woodring's point is that

the market is hinting they're not just worried about Huawei 5G, but that the notion that China is going

to turn inward to a large degree, and that's, you know, 30 billion in operating profit.

I've been saying that this is an insular government. It could absolutely hurt them. They

...