Bank of america hiking its yearend s p target to 4,600 it had been 4,300. Also ahead, sources are telling cnbc that apple and goldmansachs have been planning the launch of a stocktrading feature for the iphone project was shelved last year after the markets did turn south. Could have worked on it mitsubishi you worked on it yourself no, im just going to make up a series of things because thats exactly whats called for. Well get to it with kate rooney in a minute lets begin with the markets ahead of the fed decision later on today are you encouraged at all by some of the action this morning . Look, i think that if you dont have a if you dont have a rate hike, and he talks tough, everyones okay so, if he talks anything less than tough, then we go back to that scenario where theres that holy 13 you get when theyre done i think theres a perspective that longer, higher, whatever, take off the higher, maybe a little bit longer, but theres a sense that the dont worry, be happy s p target piece by bank of america, which made me feel so good. It was like a gummy. You know what a gummy is a gummy yeah, i do. I decided i was not going to go with an nfl reference you could do endorphin drip, Something Like that. Okay, i dont know what these are, but i know. Savita has a way of making you feel like everythings going to be okay i read this and i said, this is kind of its not like tylenol extra strength its better than that. Oh yeah yeah. She goes from 4,300 to 4,600. Basically, she says you want the spw. You want the equal weight because thats where sentiment has stalled out the most lets open this to everyone who hates stocks ive been with probably, i dont know, literally ten ceos, and man am i tired ten ceos in the last week and all of them have said the same thing. Whats wrong with the market i kind of hate it. And this really captures this piece is good research, and now, she was on she was on squawk box. Shes very strong strong piece and you know, u. S. Manufacturing renaissance, i was talking to the people in the Commerce Department you definitely have that i still dont like this whats happening with the strike if they cave, you got a remarkable situation, and immediately wages go up for a couple hundred thousand people did you happen to see the piece today on the productivity of the factory workers, manufacturing, and how its not been particularly good in the United States versus so many other countries . I thought it was an interesting addition to the debate here as we as obviously the backandforth continues over higher wages that 32hour workweek not to mention ratner in the times saying uaw is overplaying their hand thats the first guy who said it, and i think theyre really overplaying their hand, because there are options. There are options. These companies are not pitiful, helpless giants. No, youve made the point that there are many options, and over time, you could simply move more manufacturing to mexico thats basically what youve been saying. Look, i was part of a strike unit that came into a textile company in 1977, 78, and we just we had them on the run i mean, i was absolutely sure we would get a giant increase, and one day, they said, you know what you guys win, but were closing the factory. Whoa dont rule that out. Thats an interesting point as carl says, ratner was the car czar at that time, overseeing the restructuring of gm and the old chrysler when the United States, by the way, became the largest single shareholder of both, if you recall. Could be a pincer move. Get shawn fain, and he goes further and further, and then you find out how much the rank and file really like him and then you say, you know what . Weve got a fabulous plant in pueblo its going to take us two and a half years, but were going, because they saw, david they saw david fabers piece about musk and recognized that as Larry Ellison said, we have no people im changing my whole attitude i listened to Larry Ellison again. People who dont need people are the luckiest people in the world. Thats terrible barbaras going to call in barbara loves the stock market i love barbara i got to meet barbara once, she she used to be a fan of the old squawk box. Hes the a brilliant person she trades real estate there isnt anything that person couldnt do. Shes not from queens, you know. No, shes from brooklyn thank you we dont use robotics as much in our factories either. No. As, again im referring now to a journal piece today that i just thought was interesting. People make mistakes. But i think the more we talk about the strike by the way, tesla uses more robotics in their factories. No kidding. When i was looking it was incredible the stunning background of your interview, maybe we have a screen shot of it, i didnt see any humans there were. And there are plenty really . Yes what do they do they make sure everythings working properly oil me . There are plenty of workers at a typical tesla by the way, though, their most productive plant is in shanghai. That produces more autos they just crossed the 2 million mark berlin now. You look at what i went to the bronco lineup i went to the one that they struck broncos incredibly popular. Everyone that came off was already spoken for, so its not like theyre going after some line that is a waste of time its not like what disney did when they cut out those network those stations that nobody cared about im just saying that this was it was not an idle strike. People think, its not the f150. Well, the bronco is an impossible to get vehicle, so they are hitting, and if they spread it, then at a certain point, i think jim farley says, you know what . My grandfather worked on the line im a ford guy you people are not ford people youre not youre some sort of agency thats come over and taken over this union, and you do not represent our people, and then they put it jump ball, and then they just say, lockout now, ive been saying this lockout only because i know you keep saying it its an existential crisis. If they give, its 80 increase in what they have to spend and then they cant go ev. What if california says, you cant sell i. C. E. Engine in our state . You know you got something on your shirt, david. Oh. What is it i cant focus anyway, i think that what happened i couldnt focus what happens is that farley just says, you know, guys, were we cant do the i. C. E. Because of california changes and were out of business. All right, well, we dont know when that day comes its not near. Right well, president bidens coming out there, and hes going to really stand with hes going hes not, though, is he i think the white house is pulling the plan going to stand with bill ford for the right to be rich versus labor . No hes on the wrong side of history in terms of, like, what fords trying to do with ev, and it just is amazing to me that they havent played the ev card at all not once is anyone playing the ev card, the transition. Well watch it. Ford did get a deal with the Canadian Auto workers, avoiding a twofront strike lets get to goldman and apple, sources telling cnbc they had been working on a stocktrading feature for the iphone kate roonny has that for us. Apple and goldman, they had been planning that launch of that stock feature for iphones but the project was put on hold last year when the markets turned south this is according to three sources familiar with those plans, sources telling me and our colleague that apple began looking into this with goldman back in 2020 by 2022, when this was on track to launch, markets took a turn and apple feared its users would lose money in the market so they were worried about potential backlash, so instead they moved to launch that highyield savings account. Representatives for apple and goldman declined to comment on this story the project highlights apples big ambitions in consumer financing would have added to that suite of existing apple Financial Products powered by goldman. This was happening in the heyday of goldmans Consumer Banking ambitions. Unclear where the project stands at this point. One source described it as being on ice another tells us the infrastructure is mostly in place should apple decide to ever go forward with those plans, guys. Back to you. Kate, thanks for that its a good setup for discussion about both apple and goldman as we got greens guy in the mix today too. My sources im not going to disagree with that story, but i will tell you that when i speak to people at apple about it, they dont want anything that could cause a loss. They were going with buy now, pay later. They dont have any losses at all. This, conceivably, could cause a loss but it would be put on goldmans balance sheet, but i dont know how seriously this was discussed because when i spoke with them, they didnt think it was an imperative meanwhile, goldman continues to retrench as we know the firm is determined to do when it comes to consumer, which never really amounted to much of its revenues but certainly has occupied a great deal of time and effort and questions from the media certainly. You know, green sky obviously purchase that they wish theyd never made and now were in the process of selling unclear where its going to end up bloomberg and the journal reporting a handful of different names. Im hearing apollo, perhaps, maybe a blackstone also had some interest well see where it ends up thats not really the key part of the story what is is, of course, this continued retrenchment i asked David Solomon about it and he was very blunt about and trying to defend, essentially, saying, hey, we try something, it doesnt work, and we move on. Take a listen. We made a decision, you know, six, seven, eight years ago when we started this, seven, eight years ago, to also get into credit for consumers, and a variety of things that have changed, but we think that we shouldnt enter that space as aggressively what are some of the things i think the Regulatory Environment has changed. I think that scaling those businesses, you know, in this environment is a little bit harder than it might have been in a different environment and so, we made the decision to pare it back what i hear from most of our investors and shareholders is they admire that we tried something, and they also admire that we quickly made the decision that we didnt think it was working the way we wanted to pare it back and make a change, so we made a change. Were very, very focused on our core business of banking and markets, which weve grown really nicely. There you go. It was just the first loss is your best loss because when it was first they didnt buy green sky that long ago. Couldnt have lost that much value so quickly you would imagine they didnt i dont know where the numbers are going to end up here fairly robust auction, at least. Some interested parties, some groups ive confirmed that story is accurate, but what bothers me is that what kind of i mean, are you in that much of a hurry to prove that youre not what you went into, that you couldnt get a better price if you made the decision to get out, get out why wait it might be worth more. Im not saying that they should im saying that maybe give it a little time. David, theres an outfit ringing the bell and there was an outfit that came public yesterday klaviyo is ringing the bell and going public today whoever buys green sky, they merge it with some other some lending company, and it comes public and we cant hear from 9 28 to 9 42 because they bring people from outside and everyones so excited, and we call it skys the limit. Com. I like it im saying they wanted it off so badly, and they offset with gains. But whoever buys it, were going to have to sit here and say, wow, did goldman ever get fleeced. Maybe it doesnt matter. Mayor theyre making so much money and they wanted to change the profile. Theyre making more money now and certainly will in the Fourth Quarters, Capital Markets seem to come to life. The private markets are very important for goldman. M a is still in the doldrums, although i am starting to hear real signs of life but besides the ipo market, they were lead on arm, they were lead on instacart, and klaviyo too, right . Its interesting, they bring these deals, and i dont know if you notice, instacart opened at a high and has come down cinstacart, what do you think of that trading yesterday . Suboptimal. You called the company superfluous yesterday. It is superfluous food prices are really high, so all i want to do is tack on a little more. General mills. Cereals going up. Not another blue apron, though, is it . They split the stock. That was like 180 for 1. We had the ceo at this desk and after a while, i think he kind of gave up after he asked him he gave up. He said, you know what youre right its kind of a green sky like, green sky. The guy who sold green sky got a lot of stock for them. Theres a guy who did well right . Fool me once you were at goldman. I mean excuse me you did the Character Story you did the great interview. Oh, thank you. You didnt do you mentioned it you took a beating from this guy. Yes, they will have taken, most likely. Well see what the price is. 500. 500 . No, its what you said. Wait, what . Im saying the story this morning is accurate. Thats what im saying i know its being sold. Yes. No, the price is accurate okay. Were going to watch certainly cart and arm and klaviyo, ringing the bell this morning. Well talk some oil. Got some reactions here on where its headed from goldman, jpmorgan, and of course cramer last night well get to comments from the b of f ceo on the consumer, General Mills and cody, and calls on disney, pins, and Dollar General every day, businesses everywhere are asking is it possible . With comcast business. It is. Is it possible to use predictive monitoring to address operations issues . We can help with that. Can we provide health care virtually anywhere . We can help with that, too. Is it possible to survey foot traffic across all of our locations . Yeah absolutely. With the advanced connectivity and intelligence of global secure networking from comcast business. Its not just possible. Its happening. You know doug, ever since switching to workday youve been a real rock star. Rock star . What do you know about rock stars . Billy idol . I mean wheres the skintight leather . My shoes are leather. Wheres the unnecessary zippers . That thing billy, rock star is just how doug feels when he uses workday. Thanks, rory. Ill show you rock star be a finance and hr rock star. Workday. For a changing world. Billy idol just stole your golf cart the bottom line, the charts interpreted by carl garner suggest oil could make a run for the low triple digits if it clears this final hurdle around 92 bucks but based on Everything Else shes seen, she doesnt expect hundred dollar oil to be particularly sticky. In fact, garner would turn bearish the moment we hit 101 plus a month from now the seasonal pattern turns against crude so as she sees it, theres likely one last link higher before the relentless oil rally finally fizzles. Im concerned because i think thats going to cause a lot of chatter about how were about to go finally right through the moon these bulls cant take it. These different analysts at all these firms, all of them are going to come out of the woodwork and say were going to 150 there was jim last night breaking down the path for crude. Kind of rhymes with what jpmorgan and goldman are saying there. Look, carly garner, just so you know, shes a great technician, and she called the top exactly last year, so i went back to her, and she said, look, were going to revisit that top, most likely, because theres still a lot of buying going on by big speculators who do matter the United States is still not providing the additional oil, but what happens is the cure for higher prices, high prices, is higher prices. Right and so you will see these guys break ranks, typically, at this price yeah, we had kaplan on, the old fed hes not old. Hes very smart the former fed texas dallas fed he was talking about, you know, the energy transition, which of course they talk about a lot down in texas, especially. Remember being with exxonmobil during the period of time when i was doing that, and how long its going to take and the fact that were going to be undersupplied for a longer period of time we are. Even though were at highs in terms of production, we could be doing more, at least that seemed to be what he was saying were certainly not drilling more, because everyones trying to the discipline in the permian is incredible, that these guys arent breaking ranks and starting to drill more, but they pretty much had their fixture of what they were going to spend and theyre not going to spend more, but they can go after theres certain alreadydrilled wells that they can start selling. In the last three weeks, the data from the International Agency shows there is pickup but not enough and it is incredible to me that the saudis, its like, do they want to elect a republican because the saudis are making theyre the ones that i would say are keeping the oil too high do they want to elect trump . Good answer. On the podcast, youll absolutely shut me down. I mean, exrecession, theyre holding back on production by the most in a couple decades i think its extraordinary. And they look, this is an election issue i mean, gasoline is historically been an election issue, so its something to monitor, but i thinkoils going higher. It will be an issue soon, politically, if not already. Well get cramers mad dash when we come back, talk a bit about the effect of higher gas prices on the consumer fashion moves fast. setting trends is our business. We need to scale with customer demand. In real time. jen so we partner with verizon to take our operations to the next level. marquis with a custom private 5g network. ella with verizon business, we get more control of production, efficiencies, and greater agility. marquis so our customers get what they want, when they want it. jen its not just a network. Its enterprise intelligence. vo learn more. Its your vision, its your verizon. Ever since she was a little ki, all maria wanted to do was bak. Im maria alvarez, owner of marias cakes. And im axel, proud to be her state farm agent. Her baking superpowers have brought sweetness to our community. I make delicious cakes to make special occasions even better. Maria doesnt just bake; she also creates opportunities. Small businesses like marias, open doors for communities to thrive. Support your community. Support small business. Welcome back time for a mad dash. Weve got an opening bell six and a half minutes from now. Its going to get loud here, by the way, with all these employees from klaviyo i think they have at least a third of the Employee Base here. Lets talk a li