Win streak, the best since june. Tenyear yield this morning as Mortgage Apps basically collapsed last week, refis down 20 and well keep an eye on the mix of red and green arrows today. This is the best start to september since 2010, as the president announces he will delay the vote on a military vote in syria and give diplomacy a try. Are investors giving up on apple . No big surprises at yesterdays event. No big deal announced yet with china mobile and shares falling in the premarket. And netflix share at an alltime high. The deal with virgin media could change the relationship between netflix and the cable company. The president last night laid out his case for a military strike on syria saying its in Americas National security interests to work with allies to put chemical weapons under control. My administration has tried diplomacy and sanctions, warnings and negotiations but chemical weapons were still used by the assad regime. However, the last few days weve seen some encouraging signs, in part because of the credible threat of u. S. Military action, as well as constructive talks ive had with president putin, the Russian Community has joined in push ago sad to give up his chemical weapons. With that, secretary of state is going tomorrow to see if he can hammer out some kind of u. N. Resolution that would be binding, that would be backed by force. Where does that leave this market, jim . One of the things that was absolutely certain from that speech is the russians acted because we made a credible threat. I think they felt listen, were going to go in and with a lot more than just a couple of missiles and they wanted to preserve this assad regime. Sometimes i sit back and say between 9 11 and the president , i watch the president , its a good speech, so what. Im jim cramer, 9 11 overwhelming, too. I come back and say markets overbought, refinances arent that hot, feels like we had a very big run and apple is not that good and i say, gees, whats the next thing here . Weve been so fortunate having a great stock market. Just doesnt feel like maybe its had a bit of a run here. It may have had a bit of a run. Its funny, in speaking the last couple of days, having reacquaint myself over the summer having ended, trying to talk to bankers or senior executives, people seem to be rather positive i will actually tell you. Business is better but it seems like we handed off somehow the interview with sam zell in the journal this morning has taken his personal percent and in his personal account thats devoted from real estate to 50 in 1990 to 40 seven years ago to 30 now. He said im not singing kumbya. Its so great he said that. If its so great, where is the inventory. Were a housing bubble in different areas. Its hard to imagine that the fed does something drastic here after what looks pretty drastic. Lets say youre the fed youre saying we really fear tapering because maybe Mortgage Applications will drop. Hey, guess what, i dont know how you drop more than they dropped. Refis down 20 , the jumbo goes to 4. 84. Thats where a lot of people were originally. The incentive to refi, where did that go . Well, you had your chance. You did have your chance and it went on for a long period of time. Its irrational. It is. Youve mentioned housing as a sore spot, a worrying point, which is a fair point. But to the extent other parts of the economy were to get rolling and that jobs number does not point to that occurring necessarily but i will tell you again there does seem to be a positive tone perhaps, an idea of if you look market, were not talking about europe for the last four years. You get these upgrades at jpmorgan. Ingersoll rand looks like a biotech stock. Great International Companies are really flying here, anything with aerospace, many of the big dow stocks, united technologies, boeing. You come back and say, listen, we are not that good maybe. Which is bigger in the end the big industrials can carry us higher. Is retail in a cross hairs . I dont know. Getting a little catalyst here. I had underarmor on mad money. Could be going stronger. Nike is doing well, nike and the dow. We have some big cap stocks doing better. Your world is a world where guys are doing the verizon deal. They have to say you know what, 58 billion is right there. Their ability to borrow is incredible. 49 billion. Now theyre going to actually try and do all 49 billion of the financing thats needed like that. Amazing. Amazing. But thats been the story, the largess of the capital market, particularly on the debt side, has been one of the key stories for years now, maybe not to this extent. And then people are going to say bubble that you could raise 50 billion overnight. Double. I remember a long time ago Goldman Sachs 5 billion is a lot. You had a deal like this, y be calling all your customers saying please, please take that, please, please. All this for about 2. 5 over the corresponding treasury. Amazing. One big cap stock that is not going to be up is apple. They did not announce a deal with china mobile that had been anticipated. It is set to receive a license to run on chinas network. This after two upgrades. But some on wall street unimpressed. Ubs downgraded apple this morning. The china mobile deal, to be fair, people are saying theres an expectation perhaps that will be announced in november. We shall see. A lot of analysts waking up this morning and investors saying, all right, it was nothing that i didnt expect and you didnt wow me. No. I thought the Financial Times put it best, apple puts color and security before price. These other countries that dont have these packages, these plans. If youre in one of these countries where you have to actually go buy the phone, the price was not right. Why dont you just say it clueless on the air. I dont know its clueless. You do away with the 5, you bring in the plastic phone, lower your cost, protect your margin. In the end, its about moving around the chains, its not about innovating a new phone. People have to accept the fact that theyre not samsung. Samsung is the cheapest people love that big screen, man. Love it. Is apple gm and samsung could that happen that quickly . No, but the idea that at a certain point i remember when the toyota came out people were look thats cheaper, who cares. Next thing its cheaper and better. Next thing gm is doing saturn and then gm is bankrupt. We have to get rid of the halo i guess. Even the guy who backed up their buys today at btig still called their reticence to go into a lower tier market a miscues. Theres hope that now they just had a release but maybe it does happen eventually. I remember when microsoft was the collosus. You end up thinking maybe thats more who they are. People did that with Microsoft Software . People went ooh, wow . Yeah, because you had no icons and it was exciting. That was before the internet. They destroyed netscape and they were taking on the attorney general of the United States, giving her a smackdown. That wasnt so smart. In the end there was an excitement to it. Then we realized microsoft was no more excited than duke energy. The stock hasnt done much. It has an incredible free car yield. Who knows where were headed with microsoft. Well, they split it up. Meanwhile netflix if intel had bought arm holdings. Look at arm holdings today. Were going to talk netflix later on. What a story. Shares of p g are down. Suntrust says they go from a neutral to a buy saying they need to show consistent topline growth. Its in the trading range for the remainder of the calendar year. What do you think . I think procter is putting color and security before price. Color is all the rage. Talk to mickey drexler. Everything is color. Procter has to cut prices and get the emerging market back. Colgate has innovation going. A lot of people feel procter has lost its way. I used to feel that way. Its a big cap company. Its hard to innovate. Colgate is innovative. Procters been kind of stagnant. Plus, i dont know, have you guys bought a razor lately . Its like 475. I need walgreens and cvs to do what walmart does, subsidize. I bought a schek because i was mad at heck. You know what, shaves very similar to a gillette. Second best that man can get is fine. It is very expensive to shave. Its a huge cost. They sell you the razor but then they sell you the razor blades. How crazy is that . What a business model. Hair and grooming has not been that good. But isnt it ironic that some analysts are mad at apple for not doing a lower price item but at p g, theyre doing a youre mr. Split up. Have you noticed what happens when a company is split up . It goes higher. Thats what the bankers call it now, shrinking to growth. I like that. They always think of such great things. Split equity. Shrinking to growth. I feel like whats happening here is you get a company like procter and it like, i dont know, if you did a hair and grooming corp, a cleaning detergent corp, we like all these pieces like what sara lee did. Nobody doesnt like sara lee. They sold off the Coffee Business for a huge amount. Like a pfizer. Zoletis. This shrunk to grow. They shrunk to grow. When we come back, the netflix juggernaut. Can a stock that has more than tripled this year look at that, its at 313. Theyre not shrinking to grow, theyre just growing. And ed lazear will join us. We do have a moment of silent here at the exchange right before the bell. Were back in a few moments. And at the center of it all is a surprisingly low price just 7. 95. In fact, fidelity gives you lower trade commissions than schwab, td ameritrade, and etrade. Im monica santiago of fidelity investments, and low fees and commissions are another reason serious investors are choosing fidelity. Now get 200 free trades when you open an account. Netflix announcing its launching its streaming service in the netherlands. That will make that markets the countrys 41st operation. That on news that u. K. Operator virgin media is to imbed media on that box. Heres what he said to me in an interview earlier this year. I could consider reed coming to the cable industry and saying why dont we have a wholesale Resale Partnership instead of being adversaries and all of a sudden cable is distributing and promoting things doesnt have a lot of sports on it. Maybe its a bundle or netflix with video or with cable or broad band and you see the traditional video shrink. This will happen. We ran that right on april 10th because the thoughts of this were of significance. Malone and liberty control to a certain extent charter, which is one of the largest Cable Companies through their 20 ownership of that. This is fascinating that you would keep the video product but probably getting rid of a lot of your pay servicing, allowing people to do a different kind of bundling with netflix being delivered to the set top box. Is this man really able to think that young . This is the way people think that are much younger than he is. A visionary thought that way about sirius satellite. I mean, he just has the pulse. Hes certainly an extraordinary thinker. You have to be aware as a Cable Provider is how do i potentially keep that video going into the home along with that product. But again, that may very well be provided by their Cable Provider. I was watching the mexican world cup. I like soccer as we all were. Its very exciting. Im watching on my cell phone. Es espngo. Doesnt that get expensive . I dont know. I liked it. I was watching the president. And the idea of youre blowing apart the bundle. What i think is fascinating about netflix is this is the beginning of a new era. But your point about the young is key. These are kids and i mean kids, who didnt grow up. They dont have the experience of coming home and turning on the television. Its hard for us to exit that mindset. Malone thinks not only strategically long term but can package it tactically. His genius with Balance Sheets and billions with accounting. And a way to avoid taxes at all costs. Visionary. When we come back, its shaping up to be a rough day for apple, as we said. Take one more look at futures. Well keep our eye on g geopolitics today. Oil finally has a rather calm day and well have a moment of silence at the New York Stock Exchange when squawk on the street comes back. Building animatronics is all about getting things to work together. 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Will power us all. Into the future. The New York Stock Exchange about to hold a moment of silence, remembering the victims of the 9 11 attacks which occurred on this date 12 years ago. At this time on that day american flight 11 had already crashed into the north tower. United 175 had already crashed into the south tower. Of course its a day that changed life for everyone in this country in ways that we cannot even understand at the time. There will be several moments of silence around the country. The president is now making his way to the pentagon. Heres the moment of silence. Ther [scream] dont tell mom. Dont tell mom. Dont tell mom dont tell mom. Okay. Dont tell mom. Dont tell mom. Dont tell mom . Yeah. The best stories youll ever tell start with, dont tell. Dont tell dad. Start yours in the new santa fe. From hyundai. Nascar is ab. Out excitement but tracking all the action and hearing everything from our marketing partners, the media and millions of fans on social media can be a challenge. Thats why we partnered with hp to build the new nascar fan and media engagement center. Hps Technology Helps us turn millions of tweets, posts and stories into realtime Business Insights that help nascar win with our fans. Bob will retire when hes 153, which would be fine if bob were a vampire. But hes not. Hes an architect with two kids and a mortgage. Luckily, he found someone who gave him a fresh perspective on his portfolio. And with some planning and effort, hopefully bob can retire at a more appropriate age. Its not rocket science. Its just common sense. From td ameritrade. Youre watching squawk on the street, live from the Financial Capital of the world. The opening bell set to ring in just under a minutes time. We just had a moment of high sense here at the New York Stock Exchange as we recall the 12th anniversary of the september 11th attacks. It important to remember 2,977 victims, 242 on plans, 125 at the pentagon, 2,606 here in new york and the president is at the pentagon where theyll have a moment of silence in just about seven minutes. It is being remembered, as it should, all around the country today. Meantime lets get the opening bell and get this trading session under way. A lot going on, a lot of discussion of apple, the president s speech on syria last night, big high profile downgrades of procter gamble. The big board, nonprofit organizations, my good deed and tuesdays children playing tribute to the victims, at the nasdaq, the new york p. D. And children and widows fund. A good interview yesterday. One of the things of Charitable Trust in Morgan Stanley, its lagged. Theyve made a lot of changes thats not really recognized. This is a little better than m a. And fixed income is very important for these firms. The lead underwriters for Morgan Stanley and for verizon, for the huge bond offering, thats going to be some nice fees for all of those banks. Not worrying about mortgages with Morgan Stanley. I think a lot of it is the reversal of the if housings going up, everything they have thats under water is not as underwater. It does matter. Its kicking around somewhere. I like the Morgan Stanley call. We didnt mention there was a lot of fear among these banks that if Eliot Spitzer was elected, they would have the new sheriff. Stringer not a sheriff . Scott stringer defeats Eliot Spitzer for the controllers race here in the city of new york. Why would that be important broadly . Because if spitzer was in there as an owner of a share of many of these companies, he would have been owner, he would have been defeated. The headline of the New York Times today, sleazy come, sleazy go. I happen to like the hotel business. Starwood. Windham, mr. Holmes has done a great job, steven holmes. This group has been good. Travel has been good. Priceline has been good. People are still going places. Again, maybe that was a tell. All of those in travel good versus housing in some parts of retail. Hey, listen, vacations important part of america. Very important. I try not to ever miss a vacation. Never miss a vacation day. That would be my advice. Apple is the biggest loser on the s p. This is a 5 decline. Combination of the downgrades, three big ones and the lack of the more secure announcement in beijing after setting up expectations with that event. I know carl better tweet something soon. Not this carl. Icahn. Not that our carl wouldnt have influence. If icahn tweets hes not going to only have dinner but breakfast. Where they have herballife supplement shakes. I want to mention shares of gm, 30 million of the canadian governments 140 million shares being sold this morning right now b of a taking care of that, thats frustrating the stock. What a buy. Thats a buy you think . Theyve got a big chinese business. This is the way to play