Just below 5 at 4. 99 . We have news just out from the white house. Eight more companies signed on to the series of commitments to keep a. I. Safe and secure and transparent. Nvidia, palantir and ibm and salesforce among those. They will meet today with the secretary gina raimondo. The white house took a pledge of Companies Developing a. I. At the time which included amazon, goog google, meta, microsoft among them. We talked about meta. They will do something more open source and open platform, if you will. The issue here is not so much about whether you want to worry about the big guys, but so much about folks who get access to the technology and build smaller language models, if you will. Were back to nvidia again . We are switching back . Nvidia. Tomato. We have to decide once and for all. I love that. China. Did you read that . Did you read about the a. I. Thing . We developed its beyond the pale. It can be used for nasty things. They show pictures that supposedly show the government developing weapon systems which due with fires. That is low. Theres no level that they will go below at this point. Do we do that with our white hats and propaganda . I dont know. We dont see it that way. We see it as we are defending the country. Oracle shares are tumbling. Revenue came in below expectations. Oracles cloud license and onpremises diffsegment decline year over year. Also missing estimates. Chairman Larry Ellison said a. I. Development companies have signed contracts to purchase more than 4 billion of capacity on oracles gen 2 cloud. That is twice as much which had been booked in the forth quarter. Stock is down about 11 points. It has truly been we dont talk about it as one of the magnificent seven. It is 340 billion company now. Over the years, you know, cisco and others have lost their way. Oracle and qualcomm. 100 billion. Nvidia. Oracle. 3 trillion. You do . Nvidia and apple. Apple is more than 1 trillion. Id buy 1 trillion. Okay. You dont have 1 trillion. I dont have apple. Fair trade. We should tell you about what is happening with the uaw. Slightly lowering the demand for pay increase. Now they are asking for 36 . Thats down from the initial ask of 40 . Sources tell auto news and others that the union is asking for a series of wage hikes in the next five years. It starts with the pay boost of 18 and raises alternate between 4 and 5 annually over the contract. That is something that the automakers are pushing back hard on saying they probably would not be able to survive if they were paying those payouts. Thats what they are saying privately. Gm and ford and stellantis face a deadline of midnight on friday. These two sides are very far apart. It is not just the pay raises they are talking about. Stellantis is offering a 14 raise over the life of the contract. You see 9 and 10 from the others. Uaw wants a 32hour workweek and defined pension plans. The uaw president has threatened to strike at all three companies simultaneously which has never happened before. This is important to the u. S. Economy. If a strike takes place at all three of them, over the course of ten days suggested that it could cause the u. S. Economy 5. 6 billion. Past performance is no guarantee of future results. Selling gas guzzling cars and trucks and getting big profits. Now to come eply with the emiss standards will be expensive. The trucks cant do it. The ev transition and take on tesla which has the firstin advantage and higher margin and lower costs. Will anyone switch to ev u. S. Makers and buy them . I kidded around. The ford f150 electric version. I saw one at the beach. It was pretty cool. For the next few years, i dont know if you see the same profits as they try. I dont know if the union is trying. No one wants to put the automakers back in the position they were in before sdp. This is a tough position. They cant pay those types. They cant handle it. They will point back and say profits are up significantly and the ceo pay is up significantly. They were. The future. It is like the streaming future. I made that point yesterday. The hollywood strikes. Two years ago i would have gone on strike and said you owe me money. A big streaming content party. You strike when you can. By the time you do it, its over. If you were a streaming company one of the problems if you were warner, would you give people huge raises right now . The conundrum is you saw the people behind you saying talk about the prosfits. They made a for tune and we mad nothing. Part of the discussionis it may be rearview mirror, but nobody is saying to management stop paying yourselves. You get as much if not more than before and you already got this sort of retroactive bonus that we did not participate in. Some of the folks would say it is giving me back some of that. They are not going to, but thats what were talking about here. All that is is optics. If a ceo makes 30 million or 40 million, maybe they dont deserve it or maybe 300 times the average employee. Do the math on what theyre asking for. It is not 30 million or 40 million of how it effects the company. Optically. You see the fat cat ceos. You are talking billions of wage increases that a company cannot be profitable and it will not help anyone. It will not help them innovate. Andrew brought this up yesterday. Bigger issues are not just the pay increases. They can probably Reach Agreement if they were talking about pay increases. They are talking job security and 32hour workweek in terms of the benefits they want from the pension. A. I. Will be gutwrenching. That is like giving tenyear contracts with the buggy maker at the dawn of the combustion engine. These jobs arent going to be productive to keep. It is an Inflection Point in society. I dont know how we help people manage the transition. We had to do it again and again. No one works on farms any more. 1 . Lets talk about this story. Nearly 1 million California Workers are set to win salary increases under a new bill expected to pass this week. Most of the fast food workers will be paid 20 an hour next year. The bill has the blessing of the labor union and Industry Groups ending what had been a standoff over wages and working conditions. A separate bill raises healthcare workers to 25 in the next it teten years. That doesnt include doctors and nurses, but everyone else at the hospitals and clinics. You see this move on wages across the board. From the macroeconomics point, inflationary issue. The question is is this a good thing or bad thing . If you are a worker, it is a good thing. For the pandemic on top of it for these workers . You have not just the inflation and the pandemic. It depends. It could be bad for the majority of people and good for the union workers. It could be not so great for the people that get the raises if inflation outpaces what theyre making. Right. Or if it puts your company in a pe pe perilous position. That is why they say we laid off 50 . What if they went bankrupt after laid off 100 . What is coming up . Busy day . I feel like it is. We have a busy day ahead. We do. When is the cpi . Wednesday. Thats a busy day. Thursday is ppi. You said it. Ppi. When we come back, we get you ready for the apple Product Launch event at 1 00 p. M. Today. And Walter Isaacsons book hits the store shelves today on elon musk. You heard the early stories. This is a big lot in it. At 8 30 a. M. , we speak to senator joe manchin. Th is issquawk box and this is cnbc. Announcer this cnbc program is sponsored by ibm. Ibm. Lets create. Or. Can we . This is watsonx orchestrate ai designed to multiply productivity by automating tasks. 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Wow, you get to watch all your favorite stuff. With tits to die for. System. And its all right here. Streaming was never this easy, you know. This is the way. You really went all out didnt you . Um, its called commitment. Could you turn down the volume . Here, you can try. Get way more into what your into when you stream on the xfinity 10g network. Welcome back. Apples annual iphone events is today. They are expected to have new futures, but the biggest is the usbc port. Joining us right now to talk more about it is barton. Barton, before we dig into what we will hear today, lets talk about the china and india front. That overshadows anything the Company Might say today. The report out today that says for the first time ever, apple will be selling the made in india iphones on the launch day. That may be a little bit explanatory factor with china suddenly turning on apple saying you cant bring any iphones into the office or any other apple devices into the office in government operations. That has people wondering about the future business in china for apple and maybe this is the back and forth. How do you see through all of this . I think you have to kind of fasten your seatbelt for a bumpy ride. The political back and forth negotiating with a country like china which is a communist country for a company like apple, i think you have to try to see the value to china. Apple is a strong employer. Maker of devices and builder of the ecosystem that china can leverage off for the longterm strategic purposes. I think there is every reason to believe this type of tension is likely to blow over. That said, you never know for sure. If i had to place a bet, it would be these guys would see their way to the other side. Thats why it was so shocking. The idea that apple employs millions of people tridirectly indirectly in china. Tim cook has been so good at walking a fine line with the company which has a huge stake in china. I think that is why people were shocked by this move. Then you see what theyre saying now, but not apple, but bloomberg of the made in india phones. Maybe it starts to make a little more sense. A year ago in december, they got in trouble because of the supply chain issues in china. You can assume they looked to diversified the supply chain at that point sdp. They have to diversify. One would hope that china could understand the episodes that apple has been through with the production inabilities from covid and certain labor tensions and difficulties in the assembly facilities. Diversity makes all the sense in the world with. Y world. That is one of the imponderables. You cant go to sleep with 100 certainty because of who they are dealing with. I think logic and self interest tends to prevail. They will move on with the relationship that is productive. What do you expect to hear from apple today . Look, i think we expect the devices to be much more interesting at the higher end than lower end. This will favor the trend of mix skewing to the pricey devices. Iphone 15 model will have greater camera capabilities with the periscope zooming feature which is an important catchup for apple t. The titanium chassis. Lighter weight. They need to keep interest in the product that is the most essential product of the modern economy. With these guys, they can generate 150 million to 200 million of sales in units by replacing the install base of phones that need to be replaced every five years. They have an audience. I expect great products. You sound like you are an apple enthusiast and positive about the company. You have a hold rating on the stock. Why is that . We had a buy rating up until august 4th when we got concerned about apple trading at peak relative and absolute valuation. Earnings momentum looking muted at this point. I think for apple, the most exciting time to own the stock is when they move into new technology thats meaningful for the p l. That could come with vision pro, but we think that is a slow build. You have an iphone cycle with puts a takes. December quarter is an easy comp for these guys. After that, that levels out. The Smartphone Market is maturing. These guys are taking share. That is well known in the consensus estimate. At this point, not exciting for relative performance. I look for a better entry point or earnings trajectory than we see today. Barton, thank you. Thank you. I have to think about it. Coming up, would you use Artificial Intelligence to manage your finances . Could it be worse than the actual managers . Then again, isnt it the managers put it is programmed by somebody. You may pay a lot in fees for doing that. After saying that, were going to release cnbcs financial 100 list. I didnt realize that is next. You can see the top 100 throughout the day on cnbc. Com. Well be right back. Some people may be worried about the impact of Artificial Intelligence tools like chatgpt on their jobs, but what about the impact on your finances . Would you use a. I. Tools to help you manage your money . Im open to it. Sharon, our personal finance correspondent, Sharon Epperson joins us now with results. Do people do it . Do the same Financial Advisers we think may be lacking, do they put in are they using the a. I. . We have to see. Everybody is doing it differently. Our survey, joe, showed most americans have no interest in using Artificial Intelligence tools to help manage money, but more than onethird of adults in the u. S. , 37 , are interested in how chatgpt and other a. I. Tools could help with finances. 11 are very interested and 4 have already used a. I. Tools to help them manage their money. What we learned was most people who are consulting these resources are verifying what they hear with Financial Advisers. Half of the investors, 51 , have little or no trust in Financial Advice from a. I. Tools according to the cfp board. 31 are comfortable implementing a. I. Information without verifying from another source. You can check out options online or on your phone. When it comes to starting a business or buying a house or paying for college or funding retirement, some people may want to talk it out with a financial adviser. The way i like to explain it is until my computer can hand a tissue through the examiner screen to my client, i dont fear ill be replaced. Theyre crying . The cfp board found they demonstrate more confidence from a. I. Tools after vetting it with a financial adviser. Many investors want expert advice. We have a new resource to share. Check out cnbcs fifth annual fa 100 list released today on cnbc. Com. We will talk to the advisers at the top of the list today on the exchange. How much do the people on the list move around . There is movement on the list. Im hoping the top five or ten advisers are the same . Continuity is very important. One guy is great one year. Are they guys or are there firms . Firms and individuals. There is diversity. Some women on there. It is important to also look at what the assets are under management for people looking to figure out if they can use the Financial Advisers. Steiffler . You have to check out the list. Go to cnbc. Com. It is based on a variety of factors. Track record is definitely in th th there. I want the poll done. 50 say they dont trust a. I. Financial tools. I dont have that off the top of my head. There are a lot of people who have one already and dont want that one. They want to figure out how to fire that person and get somebody else. The list is coming out . It is up on cnbc. Com fa100. Cnbc. Com. Cnbc has a web site. Cnbc. Com fa100. I need to see. Financial advisers 100. No, i cant find the list. I have to do that. Go through the list. There are some. You will hear from the number one person. Im not telling you who it is yet. You know ours is better. Not even close. Thank you, sharon. Join the Financial Advisor summit on october 12th. Learn what advisers can do now to position the clients for the best possible outcome. Scan the qr code or go to cnbcevents. Com fa. Coming up on the other side of the break, the biggest antitrust trial in decades. Google heading to court to defend its Search Engine. And we talk to chris kelly and we will talk about the antitrust case he had in 20001. And a look back as we head to break of the s p 500 winners and losers. Power e trades easytouse tools, like dynamic charting and riskreward analysis help make trading feel effortless. And its customizable scans with social sentiment help you find and unlock opportunities in the market. E trade from Morgan Stanley. With powerful, easytouse tools, power e trade makes complex trading easier. React to fastmoving markets with dynamic charting and a futures ladder that lets you place, flatten, or reverse orders so you wont miss an opportunity. E trade from Morgan Stanley this is a clustomer. Hello its what happens when Marketers Group customers with very different behaviors. Into one tangled mess. This is a mess with mailchimp, marketers can use realtime behavior data, to personalize every email for every customer. Turning clustomers, into customers. Intuit mailchimp. The 1 email Marketing Automation platform. Welcome back to squawk box Justice Department with the antitrust trial against google. We go straight to eamon javers who joins us with more on the biggest case in quite some time. Andrew, the tech trial of the century so far. We have not seen a heavyweight battle like this since the u. S. Department of justice took on microsoft in the struggle with government and industry in the 1990s. The trial will be months long and it is full of technical testimony. At the core is a set of s