5 chance it was so unlikely. You have children i have children. I have 12yearold boys who look up to both of these gentlemen and think of them as heroes. I dont want this to happen. This is a terrible idea. I think it would be fun to watch. Thats the appeal i get the appeal. Thats part of the problem you will see what will happen at recess after this. My concern is fighting after watching toy story. Lets show u. S. Equity futures at this hour were sitting here on monday morning and in the green nicely. 90 points higher on the dow. Nasdaq looking to open higher 7 points up. S p is up 17 points. Most importantly, more maybe not, we look at treasury yields as the guide to life right now, 4. 1 when you look at the 10year treasury the 2year treasury at 4. 846 you may remember where was the 30year with ackman statement . It was a week ago it was 4. 30 above where we are right now. Ackman last week or ackman in the pandemic last week oh. I dont know it peaked at 4. 30 last week it was in that zone. He is probably flat. 5. 5 . We have a long way to go still maybe the cpi data will see. Squawk planner. We hear from tyson and paramount and beyond meat. Tomorrow is u. P. S. And un under armour disney on wednesday with we have the inflation data and the cpi as well as ppi due on thursday and friday. Speaking of inflation, fed governor Michelle Bowman says the fed may need to raise Interest Rates to bring it down. The Monetary Policy is not on a preset course and future decisions are driven by data the new york fed president John Williams says it is an p open question if more hikes are needed he said he thinks we are close to a peak rate and it looks like the market agree was that. It seems like it. The rate drama last week with the jumpy bond market was not repricing the fed it was pricing out recession and maybe more inflation stickiness and global yields. Were at a pause at this point. The chart last time showed odds going higher at 30 for september or november. Meantime, Berkshire Hathaway out with Second Quarter results saturday it was up 6. 6 from the quarter the year earlier it was driven by the underwriting and Investment Income and stake in apple which with led the market rally in the Second Quarter with 18 gain the cash at Berkshire Hathaway swelled to 150 billion up from 130 billion in the prior quarter. Berkshire hathaway shares closed at a record high on thursday before pulling back a bit on friday boy, you talk about benefits of higher rates. By the way, they make 7 billion on tbills alone they are one of the biggest creditors of the u. S. Government 5. 5 andrew, it is interesting as well that geico has been doing better their advertising dropped 40 last year and progressive has been pulling back at well. Tv companies talking about softness in the ad market. The biggest advertisers on the Car Insurance side of things have had a 14 drop of policies. They became more profitable. Do you need all of the advertising . Two things on geico. They are catching up on progressive. T telematics is tracking cars and looking at the policy as a result they finally got into the game on that and they were late the second piece is if you cut advertising budget, then what does it say about the value of advertising . They were able the industry was able to push through the premium increases. I happen to have written an article years ago about why auto insurers advertise so much i dont think the laws have changed around that. Things you buy infrequently, but buy when you need it, the brand is in your head. They all pulled back at once. Car prices went up and they lost tons of money. This is the only option. I thought that was fascinating for the touch points throughout the economy. Absolutely. Meantime, Saudi Oil Giant aramco reported 30 billion this net profit in the Second Quarter. The drop of 38 from the same period last year the companys ceo sees signals that Global Demand is resilient with the recovery in the aviation sector. The price has been on the rise trading near fourmonth highs. Backing off a bit this morning at 1 . U. S. Trucking firm yellow filed for bankruptcy protection yesterday. The ceo of the company said it is with disappointment that yellow announces it is closing after 100 years in business. The company with heavy debt load after mergers and faced tense contracting negotiations with teamsters union. I was going to ask you about this do you think, andrew, taxpayers are getting money back on the loan rhetorical. I know you were directing that toward me, but no. The company says yes. They claim it will be, you know i dont know how 30 . The government is now a creditor of the company we own 30 of the shares. I know. Is there value no, of course not im missing something. Maybe, by the way, based on the meme stocks. Exactly roaring last week. Speaking of roaring. Barbie topped 1 billion in receipts the movie hit the milestone in 17 days on the big screens Christopher Nolans oppenheimer hauls in 553 million. Lets talk about it. Social media twitter rebranded as x and got the handle music he built the community and x told him he had no choice but to surrender the user name. He had the option to choose from other handles. He said he is not happy with the handle, but he is settling on that for now the company transferred previous followers to that previous account. The company may reclaim user names without liability to you it is not clear where x plans to do with the account. I should say they did this also to the guy who had x literally, that was their name they said we own the company it is yours. It is ours thats the end of the story. Do you pay them for it i dont know by the way, if you were paying 8 a month for the blue checkmark, would that change the dynamic or is it because it is free they take it back it is threads again, it is clubhouse or whatever it was back in the day. Not much why does twitter keep i dont get it what is the goal they had the competitor launch that did not go anywhere it is confusing and alienating me ill be over on instagram. It is in general from everything well see it is interesting to see we will see what happens to threads. I know a lot of people have written it off completely. I think it has a chance of coming back. Lets tell you the other piece of this. Zuckerberg saying he is ready today to fight elon musk and suggested august 26th, he said, for the cage match that was the original date he suggested. Musk hasnt confirmed. He is not holding his breath in response to another post from musk said it would be live streamed on x. He now has a confirmed situation where we are fighting in that post and then zuckerberg said i wont hold my breath now zuckerberg shooting back saying they should use a more reliable platform. Maybe to be funny. Elon musk tweeting the fight is in flux because he is getting an mri on his neck and back and may require surgery before the fight can happen kelly, it sounds like you disagree with me in a civilized world, im hopeful where two gentlemen, for better or worse, become role models for kids across the world and the idea is to stand up in a fight. Fighting, but not really. It isnt wwe. By the way, if i was Mark Zuckerberg, i would take the high road and take threads o twitter and whatever and say, hey, elon musk is one of the great minds in the world i dont want to be the one to damage it. That would be, to me, the high road he will hurt him he will hurt him it might just stay in the zone of taunting and we keep it out there as a possibility we should have a drink some time oh, yeah, thats great five years go by and it doesnt happen for now, it is live if you are getting an mri on your neck, for real, forget. Coming up, get ready for the trading week ahead stephanie link will join us. And later, pucks matt belloni is joining us on the hollywood strikes and the barbie box office. You are watching squawk box on cnbc announcer squawk planner is brought to you by workday. The financing Planning System for a changing world re a rock star. You are a rock star. No more calling coworkers rock stars. Look, its great that you use workday to transform your business. But it still doesnt make you a rock star. So unless you work with an actual rock star. Hi, im ozwald. Hello ozwald. Pam, you are a rock i wasnt going to say it. upbeat music Constant Contacts advanced automation lets you send the right message at the right time, every time. Constant Contact. Helping the small stand tall. Nice footwork. Man, youre lucky, watching live sports never used to be this easy. Now you can stream all your games like its nothing. Yes thats what im talking about. [ cheers ] running up and down that field looks tough. Its a pitch. Get way more into what youre into when you stream on the xfinity 10g network. Markets coming off a losing week and the s p down 2 futures at this hour are slightly positive. It will make up with the s p up more than. 25 the are investors are bracing for another week of busy earnings and read on inflation as they digest the fresh lead of the market joining us now is stephanie link from hightower investments good morning, stephanie. Good morning. The market was hot and we were stretched technically i think the response to earnings report, although earnings had been on balance, relative to expectations, has brought on the response by the markets. What does that tell you about what is priced in here good morning. We had a really great run year to date. Up 17 in the s p. You know, mike, the longterm total return average for the s p 500 is about 7 . We are having a good year. It makes up for last year, for sure what is probably going to happen is a choppiness, if you will, in august and maybe into september. Im encouraged that earnings are hanging in and we are seeing a broadening out in the market i think there is opportunity to be had as a result in terms of the yield move that has obviously gotten the markets attention above 4 , there is no magic level where the stock market can trade above 4 has tended to be a stopandwait and back off level. Can this be absorbed certainly that is part of the chop we see this month and maybe next month and maybe until the end of the year, mike, right . We had a nice result so far this year i think overall, i continue to watch the macroeconomics data and that continues to be better than expected. The job market continues to be very healthy whether you look at adp initial claims and jolts and nonfarm payroll was fine on friday it is healthy. Wages are on the rise at 4. 4 . Consumer continues to hang in there. It is not perfect, of course, but there are opportunities, as i mentioned. The most important data point, by the way, from last week, was the productivity number coming in better than expected and unit labor cost coming in lower than expected that directly feeds into gdp we have seen acceleration into gdp year to date that is healthy. If we chop around, as i mentioned, there are opportunities out there when stocks pull back and you see the volatility increase and you have to look for fundamental stories that are on sale. Certainly the productivity growth is a missing piece of the story. It would be great if it continues. The numbers bounce around. It will help most recently we did see, you know, apple which had been going up in the very, very orderly upside angle. It seems to have broken a little bit. I wonder if there is a change in the market and where things firm up to that point, yeah, apple has had a nice run yeartodate. Faang stocks have had a nice move you want to look elsewhere you want to look at the other parts of the market which are starting to perk up, mike. We have the broadening out with energy and industrials and materials with some financials for sure i think apple takes a breather that quarter was fine. We didnt like the iphone numbers or ipad numbers, but services was good. That is 25 of total revenue trading at 33 times was priced for perfection you didnt get perfection. You had an inline quarter. Nothing wrong with it. I think it may pause for a while. On the flip side, for fortinet cybersecurity crushed down 25 i own it it was a bruising on friday for me i do not think the longterm algo would change with mid teens growth and 200 basis points of margin per year and 23 cash flow growth. It is down 25 what do you want to do take advantage of those names. If we see a broadening in the market, Technology May lag and other sectors might do better about and theyre cheaper for sure. Yeah. It seems like we did get a broadening and we will see if the rest of the market can take up that slack. Steph, thank you talk to you soon. Thanks, mike. Coming up, we talk about part of the labor market that usually doesnt get a lot of attention. A special report on hiring and disabilities is next on squawk box. Were back in a moment futures are still green. 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I know, but im still winning so, it is a competition. Save up to 500 on the new sleep number® smart bed. Plus, free Home Delivery when you add an adjustable base. Shop now only at sleep number®. Ah, these bills are crazy. She has no idea shes sitting on a goldmine. Well she doesnt know that if she owns a Life Insurance policy of 100,000 or more she can sell all or part of it to coventry for cash. Even a term policy. Even a term policy . Even a term policy find out if youre sitting on a goldmine. Call Coventry Direct today at the number on your screen, or visit coventrydirect. Com. Welcome back a look the u. S. Job market where we learned friday the Unemployment Rate is at the lowest level in decades. The year on year level has been greater for the labor force we dont talk about disabilities Sharon Epperson jonins us now this is stronger it has been it is not part of the labor market that gets much attention. Unmemployment rate is3. 6 for people without disabilities. The rate fell to 6. 9 in july of 2023 here is one company that has built business employing people with intellectual and other disabilities of the the coffee shop is a Fast Growing Company who says hiring an untapped talent pool is good for business if you have a desire to join the work force, we give you a chance and figure out how to make accommodations to set you up for success as parents of children with downs syndrome, they know the difficulty of finding a person right for the job. We did not want our children growing up in that kind of world. We started the coffee shop seven years ago. In 2016, the couple opened the store in wilmington. The brand employees 400 people with disabilities in 19 coffee shops. Across the country, about 7. 8 Million People were employed in july with disabilities according to the bureau of labor. That is almost 1 million more workers with a disability than the year before. Studies have shown employees with disbability with disabilities generate more income than those without disabiliti disabilities. People are starting to see people with intellectual d disabilities are loyal and grateful for their job and show up on time and take it seriously. Like most workers, ben says employees with disabilities want their work to be meaningful and high impact. Are they paid the same wages as the regular labor force we were concerned about that. That is not the case at this coffee shop. They are advocates for all workers getting minimum wage and above and promoted as they improve in their jobs. We keep hearing about a tight labor market ceos are saying finding and retaining employees is hard. Is there a directpath for people to locate workers there is a service nationally the Employer Assistance Resource Network for disability inclusion. You can go and find workers who have been trained to help with recruiting and all that as well. Also a local chamber of commerce can help partner employers with nonprofit organizations that work with people with dis disabilities as well as looking at the vocational rehabilitation programs out there in different communities to help. Great parents in particular see that as a relief. Sharon, thank you. Sure. When we come back after this, a lot more on squawk box. We will talk to the chair of the Budget Committee and talk about the downgrade of the u. S. Credit he rating by fitch and att wh i means and whats next. Squawk box is coming back right after this [soldier] take a look at this theyve left us a gift. [soldier] i think we misjudged them. I love horses. birds chirping [soldier] we should open the gate. Lets see what charlotte thinks. [narrator] at crowdstrike, we monitor trillions of cyber events to detect threats and prevent breaches before they happen to keep your business from becoming history. We stop cyberattacks. We stop breaches. We stop a lot of bad things from happening. Crowdstrike. Protection that powers you. Good morning welcome back to squawk box here on cnbc lets look at the futures. Green again. It comes down on the dow 36 points higher nasdaq looking to open 46 points s p up close to 10 points. Ke kelly. Oil is hovering at fourmonth highs after six weeks of gains joining us to talk about this is amrita sen this is getting more attention especially where gas prices are headed look, there has been some Political Tension bubbling, but