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Also, head markets are trying to shrug off lower-fed, rate-cut expectations as the head of tomorrow's key inflation data. And Amazon's aiming for its first record close, that is the stock, since 2021. That's one day after hitting a fresh, it was fresh gems, that 52-week high, very fresh. Let's begin with this ongoing AI revolution and the possible concerns down the road. Last night on his social media platform X, Elon Musk weighed in on the rapid development of artificial intelligence. My guess is that we also will have AI that is more than any one human, probably around the end of next year. And then, AI, the total amount of sort of sentient compute of AI, I think will probably exceed all humans in five years. We're going to get a lot more today, Jim. Google Cloud, CEO Keynote at noon. I love Tom Curry, and I think he's going to tell it. Tom's currently just going to do a good job, don't call him Tom. I will not. Here's, I spent a lot of time at GTC, this is the... NVIDIA conference. This is the NVIDIA conference. And we talked so much about when they're going to be smarter. And they are already surprised at what Musk said. I mean, one of the things that Jensen says is, "Put your hundreds of smarter people together in a room, and it's smarter than they are." Already. It's just smarter. And, by the way, anything that can be done physically, it can do better. What? You keep saying this, though. It's already here physically. But, no, I made it off because I really have nothing to say at 902. So, I'm going for it. About the bartender who couldn't really make yours drink. Well, the bartender's an idiot. Bear with me. I was with the people who programmed the bartender. I will, bear with me. The bartender is going to get much better at his job. He's not using the Blackwell. Once he has the Blackwell, the tie is good. What do you look at the tie? All right. We've had this conversation, so I want to move on to the next one because I've continued to ask you when you came back, you seem much more concerned, similarly, perhaps to Mr. Musk, with what all this is going to mean. But, guys, every time I ask you, all you want to talk about is the fact that they have a robot. The bad guys, I think, might be able to figure out how to imitate President Obama using it. You'd hear it and he would be saying something negative about pie. And it's made up and it's done by the Chinese or whatever. Whoever wants to do it. I mean, Carl, I just-- Yesterday, the Commerce Secretary said something about bio-weapons or something along those lines. Well, you think I heard it? I know, it's hard to hear. The-- I think the guts of this is, whenever you say anything that what I just said, people always say guardrails. They're guardrails. Well, where are the guardrails during the great cyber hack of all our healthcare records? You know, the bad guys do not-- where were the guardrails when they shut down the MGM grant? The guardrails only work if you're a good guy. That's what I'm worried about. I think the bad guys might be able to do some things that we don't want. Yes, I think that's-- I think Elon Musk shares that concern to a certain extent. It hasn't stopped him from moving forward with his own efforts in terms of AI. It is a race in many ways still. It's a race condition. Right. Under way in terms of competition between alphabet and Google, which was way ahead, not that many years ago with DeepMind, but had concerns then even about the development of this technology in some areas. Mr. Musk obviously has been concerned and has criticized the company he once helped to found, being chat GPT. Right. Or I should say open AI, excuse me, chat GPT being the product. But here we are. I mean, and if he's right and in five years everything, there's going to be general artificial intelligence that exceeds our own. I don't know what it means. Well, what happens if we try to make money off it for a second and discuss some of the stocks? Okay. For instance, we talked about Thomas Karrion. Hurry in, hurry in a sec. That damn Philadelphia accent. Thanks, mom and dad. Okay. So we just found out that arm is going to be the backbone of Google. This is new. This is on the Google, the Axion. The Wall Street Journal will story today about developing in house chips. Right. And I think that that's totally, it's incredibly good for arm. And they used in their last quarter, Broadcom was a big beneficiary of the effort by Google in terms of making their own chips as well. Yes. Perhaps as much as a billion dollars specifically just to Google that Broadcom helping with that effort to create your own chips. And arm, let's not forget, is already with Microsoft and it's already with AWS. So arm is the winner this morning, as far as I can see. And Broadcom, that's, you know, there's a story that they finally got. Chapin Morgan discovered that they were in one words from Google and that it was a story that I broke here last week and nobody cared. Yeah. I remember you mentioning it. Thank you. You're welcome. But anyway, I would buy arm on this, on Google, on the cloud talk. I would buy arm on, because they're in Microsoft and they're in AWS. That is big take. That's a big take. Now we try for you to take it from. I think they take everything from Pat from Intel. Intel is a shared owner. Yeah. And I was confused about the Commerce Secretary. She obviously Intel is an American gem. But they also had eight billion dollars over runs and you want to be sure that they can repay the US. Can they repay the US with that balance? Meantime, some of the other Google headlines today talk about expanded partnerships with cloud and Palo Alto. Look, I think that now both those are, I have crowd one. Crowds amazing. There's one where they really are trying to stop the Vegas. Obviously Palo Alto does one prem and also the cloud. Look at that lineup. I think I was going to find out about Ulta versus Sephora, David. Yeah. We're going to talk about the pipe routine survey. That survey is so big. But anyway, it's just, Kurtz is fantastic. This is, by the way, very critical of Microsoft's so-called security. Wow. I had to put Microsoft on it after Kurtz savaged them because you know how to savage anybody. Come on. This is CNBC. Alphabet shares have fully recovered from that brief but fairly significant decline when we discussed a great deal, how their monopoly in search might be truly at risk and would they be able to move quickly enough to deal with that. And you know what that was about? And then the stock just came right back. That was some of the parts that was YouTube. Lauren Martin saying it could be worth about 500 billion. Search. It has lost like maybe 0.2. I thought it would be much more. Yeah, but it's early, early, early days, isn't it? In terms of the concern that they will be sacrificed to share. So think about what you asked me and what I gave you. You said why did it come back? Yes. I said that. Because you know that's the truth. You think paid AI search had anything to do with it? Paid AI. Well that's not yet. That's been read both ways. Not yet. But what I think is that YouTube is the hidden gem here. Now teens, teens, teens, they spend a teenager. Okay. They spend an inward amount of time on TV, web, and they love Google. They're Instagram. We're going to cover this. It's gaining. Because of real. TikTok. Or TikTok. David, the teens hold the king. There's a lot in there regarding TikTok, Instagram, Nike, Lulu. Nike still maintains number one, but it's losing share. Lulu is losing share. Hoka. Dackers. Picking up share. Dutch bro. Taking share. Hoka's picking up share with teenagers? Yeah. Not with old guys like me? No. No one cares about you. No, they don't. They already know what you want. No, we don't. See, David's mind is so made up. He's not what the teen survey is at all. He doesn't care that Sephora has taken share. You think he even knows what Sephora is? Let's see. Sephora. I don't care. By the way, the Piper teen survey comes out every year. It's 100 pages plus. It's actually, you say it moves stocks. I think it's fantastic. And I've gone over it this morning. We spent Celsius moving up over Monster. Celsius is a publicly traded company. Yes, it is. By the way, Birkenstock did quite well. Really? Yes, really. No. Next lie. If VF Corp not doing that well. Oh, okay. Overall team spending, though, down six year on year. I think the team should glue me. This is self-reported. Yeah. I thought the teams would glue me. But they say they're spending. Look, I think that like everybody, like some of the people that we, at the end of the show that's before us, squawk, they talked about how the people are down. They think that inflation hasn't come down. The teens, I think, are, they're mine. The teens are down. And it's not just TikTok brainwashing because they're switching to reels. The teens are down. Okay. Thanks for that takeaway. Well, maybe because they don't have 401ks to look at with stocks at record highs. They don't have 401ks. What they have is YouTube. And employment. You can get a job if you want. Look, the notion of the survey is, is that to try to figure out forward thinking where the stocks are going to go. And I don't want to own crocs after this. I don't want to own Lulu. I think Lulu could be. Do you not want to own Nike as well? Absolutely sell it. Sell, sell, sell Nike. I mean, brutal. Nike is losing share. You've turned it. You've turned it on Nike. In every category. Well, yeah, because, surely, you have turned it on now. Nike, no share in athletic. Well, you know what? Did you see the stock? That actually makes sense. People will share in athletic brand preferences. Now starting to see weakness in overall brand. And by the way, Nike gave the close of the NFL away, the non. The Warn jerseys are. To, to, to, to, to Ruben. To Ruben, right, right. And people are not happy with that. Look at Nike. This is, this is what the survey is showing you what that's about. That's hard to reverse. Under Armour also. If we sold Under Armour, not good. Hooka. Yeah, so like to get Under Armour right too many, many years ago when the teens turned on Under Armour? Well, I've learned my addiction. Orin was just doing incredibly well. Fifteen, fifteen bibs of mind share sequentially. You and I both night. You're tweeted about this this morning. And I came in with my team. And we pulled this thing apart because we think this is one of the most market moving surveys that we get. It's, it's generally considered to do some rigorous work. Which is interesting because the backdrop of viewership save for the women's national championship game. Did you see those ratings? Eighteen million. Eighteen point seven million. Unbelievable. But the biggest basketball game, pro or college, men or women ever. Now, I... Is that right? Do you know that it, I watched at the peak of ESPN when they had a hundred million people? My old friend, John Walsh. John Walsh. And come up with a plan to have an all-woman sports station. He said one day people would watch that more than they watch men. Now that was about fifteen years ago. Boom. Right in his ring. Actually, since 2019 any basketball game. But for women's in his day record. Oh, I just think that people are, it is a very positive thing but it also is indicative of head of the Olympics. What we want to watch. Yeah. I don't thin ice with you and I don't know what to do frankly. I would love it to be eight fifty nine and we could just, you know like Superman when they ran the movie. Really? But you don't feel like it went backwards in the... Yeah, because I don't feel like you're filming on TV. I, I just don't feel on this. I just feel that I'm, I'm, I'm on quick sin with you. I don't know what we got to do. We got a three minute break. Maybe two and a half minutes. We're going to take care of that. This survey is really important. Yeah. We'll dig into it some more today. We're also going to talk to Matt Boss at JPM. Another upgrade from Boss today this time. Hey yo. Dropping PVH. Take a look at the pre-market here. Some interesting action in Europe, which we'll talk about in a moment. Squawk on the streets back after a break. You seek the key. But first, you must learn the ways of precision, craft and performance. 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That's Jim on Mad Last Night, saying the economy doesn't need any rate cuts, as rate cut expectations do fall to the lowest level since October, with new inflation data coming up tomorrow. Of course, CPI, PPI the day after Jim. There's a sense that these yields at 4-4-ish are just reflecting better growth. Yeah, they do. I mean, I had Ferguson on last night. A lot of people feel that's high-end plumbing. No, that's only about 15% of their business. It is piping. It is data center piping. And I was talking with the CEO about what Gina Remundo said, the secretary of commerce, that they want to hire 20,000 people. And he was saying, "Well, look, you know, we don't have the people to do this. We don't have the plumbers to do it. We don't have the technicians to do anything. We're out of people." And that is what I think could be a very big issue. Especially when you have travel and these are hiring 50,000 people. You have healthcare hiring 70. Where are these people going to come from? And now, they could be, remember we asked Lyle Brainerd about, the number of permits. They won't tell us. It's just a number in an election year. You're not allowed to know. But I wish they would tell us. But I just don't know where you have to bust people everywhere. Wherever there are some tradespeople, they'll bust them in. So I think that the idea that we are, I mean, that this is all federal lasted. When you have TSM building something for 65 billion, that's federal. And so the federal government over created jobs. It is running hot. Morgan Stanley today, Jim. I'm sure you saw Katie Huberty's chart. It's titled, "Do We Spy In Inflection?" It measures shipper sentiment, highest in seven quarters. Right. But then we have small business lowest in 11 years. We have a board who's a guy I really like. Same in the base cases, three cuts. I just think that I love this economy. It doesn't be wrong. This economy is robust. It doesn't have all that bit of inflation. But the idea that the people keep talking about cuts. Well, show me where we can find workers. We have no surfed of workers and we're thinking about cutting. We have 3.8% unemployment for ever saying. Who are these people who make these numbers up? I love board, but honestly. I mean, you want to go through the roof and we have to import workers from other countries? David? Well, we already are. But that's more like people getting into the country. Yes. And working. And working. So in a way, we are importing their workers. Well, I'd have jobs where they are, but they get them here. I would argue that the reason my wages aren't going through the roof is because we have a level of immigration that is well underreported. Even though technically many of them are not able to actually get employment, right? Well, it is an issue. You have to get green courts and then you hire automatic data and they look into the green court. So there is a level of authority. But I understand. I mean, a lot of restaurants. Sure. And average. Meantime, we'll get Kramer's mad dash, count down to the opening bell. Talk about what CPI may mean for the markets and the rate discussion beginning tomorrow. One more look at the pre-market here is we're hanging on to gains. Don't go away. One in eight. That's how many people have worked out of McDonald's. Who served millions the best Big Mac and best birthday party they've ever had. We haven't just seen kids graduate from a happy meal, but have gotten help graduating themselves. Because they know the skills learned here. The amineedos, welcome to English Under the Arches. Can help you grow from here. Or keep growing here. One in eight. Start. I make Donald's. And when you start, stay with you. Alright, let's start talking a little stock, shall we? And get to Jim's mad dash. We have an opening bell seven minutes from now. We've talked a bit about that moving goal which continues higher. Bitcoin also has had quite a nice rally as well. Not just it has. Can you connect them? Don't know. No. There's stores of value. There's stores of value. By the way, commodities also in general. Right. They've had a big move. Now, if you look at this, you'd say why haven't the stocks contributed? And why did they just get started now in the last few weeks? Well, the answer is that their finding costs have gone up dramatically. They went up from around 800 in 2018 all the way, David. I just, to $1,300, that's back which is a great operator, Dr. Mark Bristow. So you get the, look at this. Now, David, I know you want the people heading to shoulders. That is not Procter and Gamble. But what you need to find, what you need to know here is that the reason why these having kept, having kept pace is because they can't find enough. And because they can't find enough, that is jacked up the price of bullion. They're not replenishing. They used to replenish a percent a year. Now, let's bring this even more back to stocks. Costco, try getting the gold. We try every week to buy Costco gold on the website three times a week. Sold out, sold out, sold out, sold out. So, this is going to add 1% to the comp stores. Alright, but I want to go back to the miners. Sure. And you can take a look at like the GDX, for example. Why? I don't understand. The metal just keeps going straight up. Are they going to start counting down? Yeah, they are, yes, because the delta has been reached. The cost of 1,300. Now, if you get 2,600, hey, mine are, mine are ruining McFadden, man. I mean, finally started to move a little bit. The reason why it's going up. Now, a couple reasons why it's going up. David, no more arsenic. You can't use arsenic, okay? Um, but caterpillar trucks, economists, they go up, labor go up, environmental damage go up, insurance go up. So, that's how they went from 800 to 1,300. Yeah, the cost of 1,300. Making a lot of money with gold where it is. Yeah. And you can't find gold in Costco. Alright. As much as I try. Thank you for that. Please have a deposit box. Don't put the gold under your mattress, because bad guys know that it's there. It's very heavy, though. It's very heavy. Alright, we got an opening bell. A little less than a little more than four minutes from now. Don't forget, you know, you want to catch us anytime and anywhere. Well, you can do that by listening to and following this. Walk on the street opening bell podcast. Watch Amazon today, rising in the pre-market a day after hitting a 52-week intraday high. The stock is aiming for its first record closing high in almost three years, Jim. Gotta go back to July of '21. They're doing a lot of things that are behind the scenes that are excellent. They're still lowering the cost of something that's coming to your house. They're beginning to see an inflection in Europe because of prime video, which is really extraordinary. It turns out that that is a great way to be able to get Europeans. Europe is very, very important. David, there is a surge in Amazon web services where they are. Remember, they were like down, down, down, and then it's no longer-- We say down, down, down. We should always define that. Oh, it's positive. The growth rate was coming down. Right. And so they don't talk about it much, but it's good. And then I think that the work they're doing with the videos is starting. Well, it's playing what you mean when you say that. They are the biggest adopter of the new chips, which are gigantic. But that's the supercomputers. Amazon, Adam Sollipsky, who runs AWS, told me, "Hey, bring it one. We want the Bible." So I think it's going to be so neat. Whoa. Very, very important. Very important. Let's get the opening ball on the CNBC real-time exchange. The big board. It is a tanker company, Haffnia, a member of BW Group at the NASDAQ. The UN General assembly ahead of the first-ever UN sustainability week. Jim, it's your sustainability, right? It's kind of interesting to chart Amazon versus Apple in the last, say, six months, because 165, 67 would take you back to the October loan. Apple is a little exhausting. I know that what we're getting is some stories that say, look, at the service revenues, that the app stores better in the month of March than it had been January, February. So I think the service revenues are going to be good. But they have to embrace business. Steve Jobs didn't, and so far, Tim Cook really hasn't addressed the B2B. But that's where VisionPro, which a lot of people are talking about, that's where VisionPro could shine. People keep thinking they'll do this deal with Google. That was supposed to happen, what, in seven days, and it hasn't happened. I don't know what's going on in Apple. I continue to say, oh, and it don't trade it. But we need to see a phone that has AI in it, like Samsung. So at this point, you just wait for the leaks to come out about June 10th? Yes, you have to. And I know it's tough. I know there are people who say, why should I hold this thing? But I think it should be held. I think I have great faith in Tim Cook. There is a bold case that may not be embraced by that many, but I did run into one yesterday, a significant holder. Everybody's underestimating Apple and Siri. They're going to come with a cycle that blows people away. That blows people away. Again, I'm just looking at my notes here. But this is the least in case. There is a bold case. No, no, Siri is not the other day. Yes, I love the Siri's got much more. Hey, Apple has your location and your text messages. They can use that for training their AI. You know, don't underestimate what they will do once they do it. Right, and that's why I say, oh, and it don't trade. You don't know what they're going to release. But you do know that Siri, from the people I deal with, Siri is going to be far more versatile than Alexa. Now, Alexa listens to me. I hate that. So this is me when I'm talking to my wife. Siri woke me up this morning at 320, very politely. A little nudge. All that said, even if this bold case is correct, there could still be an air pocket between now and then, because of China demand and concerns there. Dan Ives embracing that a little bit as well, and one of his endless notes about so many different companies. But yeah. China's not good. China's not good for any of them. I mean, I don't maybe craft beer, and that's just a relation to Secretary Ellen. Secretary Ellen. She was slamming on us. It's having a beer that was made with American hops. Nursing, nursing. Yeah, and Molson was traded up, but I can't relate those to Molson's. But, no, my only point is, even again, if you believe the bold case that it's being underestimated in terms of what it will be able to eventually do in terms of a product and in terms of fueling a huge cycle and upswing in terms of iPhone sales, there still could be between now and then some bad news and the likes of another earnings report that will not include anything having to do with positives. I agree with that. Maybe she might. She's stuck her down. Apple's still very much on its own. They weren't there at the GTC. Everybody was there. Well, not Tesla would. Well, even though Tesla likes Nvidia chips very much, we know that from Musk. But, you know, Carl, every time you underestimate Apple, you've got to send me an invitation to your funeral. And I don't care what date it is. I don't care what it is. But you go against Apple since -- take a look at since $5. There are periods where it's worth going against. But, yeah, they'll come out. And what will happen is that Luca Maestro will say China was weak. And we'll say, oh, wow, we knew that. Let's buy this top. By the way, Alphabet was the one that we just trashed mercilessly. Look at Alphabet. I mean, every time you trashed a megacap, David, you're left in the dust. It really almost doesn't pay to get negative. No, it doesn't. Again, we were having those debates for a handful of weeks there. I'd just come back to it because it didn't last long. It may once again be revisited. This is not a short-term question. It's a longer-term question in terms of the viability of Alphabet's monopoly in search. Right. But stock came right back. No, it did. And I'm going to say something that really is near and dear to David's heart. The Fibonacci complex at 167.68. The floor is remarkable. Thank you for that. There's five Fibonacci levels that it's going to hold us. Wait, are we talking Apple? Apple. Apple. Five. Five. It's a cauliflower. They're cauliflower. Thank you. It burned it dead. Who knew? When I went to it burned it dead. They knew that it's a Fibonacci combination right there on cauliflower. Cauliflower? It's a... What is it? Algebra? Yeah. It's medieval mathematician Fibonacci. Yeah. Just pine cones, seashells, cauliflower, and stocks. Is there a Fibonacci on Tesla at 170? No. Right now, the only one that has a floor of all the mega caps right here is Apple. And this floor, if I'm right on the Fibonacci, this is one of the strongest floors that we've seen in some time. Once a kid. Well, you want Fibonacci to make your floor. He was an incredible, beautiful, horrible floor maker. No, he's not. That's flooring decor. And I like to stop upgrading 110 to 150. I always feel confident on a floor made by Fibonacci. You know you're not going anywhere. It's a medieval earthquake. You're fine. Fibonacci work, David, is actually held up. It's what? It's held up. It's held up. Yes. It is. Carl, it has. I use it. And it's really extraordinary. You do? Yes, I use it. It's been right far more than it's been wrong. Fibonacci. I don't know why. We don't know why a medieval mathematician would be of value right now. But I'm telling you, the 168, there are five floors right here. All right. But not for Tesla. We mentioned Morgan Stanley's Adam Jonas today just saying we were calling for ride sharing back in 2018. That was a mistake. A decade later, we're still waiting. August 8th will offer some important clues. Yep. I love this line which says it's both long dated and volatile, which I thought he was kind of trying to get his cake needed to. But it was a pretty negative note. And I like the fact that he ate some croak. Still got a 310 target. I know. But he's a little awful in that. He upgraded Ford at the wrong time too. Well, I don't know, Ford's been creeping up. Your buddies, my buddy Stagnoggy is also out today on Tesla. I'll give you one guess. I think he's positive or negative. He's negative. Yeah, of course. Can I just clarify that? A $25,000 car exists today. BYD makes it is the headline. Well, you see the Chinese cars being stacked up in Europe? Can I just revisit this, Tony, and people may think he's my pal. I don't know him. I don't know him personally. He's had a 150 target on Tesla for a long time and just recently went to 120. Well, I mean it's correct. I wish he hadn't done that because it would have been great to declare victory. He did not choose to declare victory. I think that at this point we're starting to discount that he doesn't have a small car. We're discounting that if the Cybertruck is a complete nut or bust, it's a bust. So you think the stock price at this point is discounting a lot of bad news? I think it is, but I think like Apple where you have to see the Chinese numbers, you have to get the really bad quarter. You have to get the news about the cash flow, David. The cash flow is horrendous here. Cash flow, right. Again, we already got pretty bad news on deliveries last week. But to your point, we haven't seen the underlying numbers in terms of what that's going to mean for cash flows. I mean, Google, when we get the numbers on search or whatever, that's going to lose points. But I just want to hear what Thomas Curry says because if they can do, let's say 50 billion in Google Cloud, like it. It's good. It's very good. Very good. 50 billion in Google Cloud would be very good. Yeah, even more than people think. It's worth a few Fibonacci levels. You know how right I'm going to be on Apple? He is going to eat crow. I'm not! That's going to be delicious. I don't know what it was reading the notes just now from an Apple bull. What are you talking about? I'm going to bring you some Eric Repair cauliflower, and you can just sit there and count them. I will eat anything Eric Repair makes. Well, then let's go to dinner. Let's do that. I made the reservation. I know you did. Jim, we mentioned AEO, upgraded by Matt Bosso over at JP Morgan today. He's getting really constructive on some specialty names in retail. How about P-V-H? Yep. Everybody hates P-V-H, and he comes out and likes it. And when I read the piece yesterday and cogitated on it today, I said, "Good, Matt is taking advantage of some of these declines and getting bullish." And I like that. And I think P-V-H had some weakness in Europe that will be solved. America was strong. Ralph Lauren, by the way, is having a great year, and that was brought down by P-V-H. That's crazy. Ralph Lauren's fantastic here. 17 times earnings. Great growth. Fabulous growth, actually. Ralph Lauren. I mean, coming down is, I mean, the stock is, that's not a bad looking chart right there. Oh, it's been a horse. In a one year. Come on. Almost up 50%. Well, take one P-V-H. That was the one that was most decreved. That was way too high coming into the quarter of P-V-H. Way too high. Right. VF Corp. I'm putting negative calories on that. Ralph Lauren, it's a different level, isn't it, in terms of Tommy Hilfiger? I mean, versus Ralph Lauren. Tommy Hilfiger, an audience. Tommy Hilfiger is having a really good Europe in P-V-H, having a weak Europe, but it's just a fact. But VF Corp. David is the one I'm worried about. Your face? You're worried about North Face? I'm worried about vans. North Face? No. That's tough. They went journal the other day about it. Really, tough piece. And, you know, it's been, back in Darryl's come in there. He was fantastic at Logitech, and people just think he can't pull it off. But, remember, they sold denim, and it's denim head. Are you okay with that? Yeah, I'm okay. Denim head to tow, according to Michelle Goss. And that's why Levi's has been terrific David. Levi's been great. Ralph Lauren, Matthew Boss raises P-V-H. And, uh, the- Levi's good. Vans bad. Vans bad. Vans bad. I'm sorry. A guy named Brack and Darryl, though, you can't bet against them. You just- Man with two- Man with two last names? Vans black and decker, that would be amazing. Oh, my God, and I have my black and decker from black and Darryl. Yeah. My- my- my- I would trust on the Stanley black and decker, and I gotta tell you this guy, Donald Allen, he's gonna pull this thing out. A lot of people feel he can't pull it out. He's gonna pull it out. Another two-namer. Another two-first-namer, yeah, he's two-first-namer. Yeah, he's two-first-namer. Yeah, back in Darryl's two last names. Back in Darryl's two last names. Never trust a man with two-nays. Although Darryl could be a first-name. Yeah. Yeah. Don't fit the nachi work in his head, and he realizes that Apple holds at 160. Apple is looking so good. I think I'm adding a six-vibinachi level. It looks so good. Jim, what do you do with Freeport here? B of A goes to buy today after a tour in months in the last few weeks? Yeah, like now. Now, look, I have people like the commodities, but you come to- you buy copper now. They like it. Karen Kramer would say on the trading desk, "You idiot, you missed it." You idiot, you missed it. Right. And it was always very poignant when you got- you idiot, you missed it. And then you throw a phone at somebody, and everything would be fine. The phones, those days, you could toss them so easily. Now, it's like he kills someone. I'm not going to kill someone. Oh, also you've ruined your phone. Back then, it wasn't. And it was attached to something. It had a- It hit the guy on the head with a bottle. It was- he came in at 605. He had to be there at 6. I said he was late, he should go home. What's the matter with that? Nothing. Thank you. It's worth touching on DJT, Jim, which has more than been cut in half since the intraday high. It's basically back to where it debuted in March. Well, it's still a great- it would be unbelievable if you could sell there if you had a lot of it. You still can't really borrow it effectively. There are- I know people who are trying- you know, there's a handful of us. I've pointed out Warren's out there, so you'd want to- if you can- hedge your Warren's, but it's difficult to borrow. That said, it's almost assured. It's basically a certainty at this point that former President Trump's company- and 90% is his. And he's suing, by the way, his partners to get the other 10%. We'll get that 40 million additional shares. Remember when we were reported on this prior to the despacking? We went through the math, talked about the fact that even though everybody seems to want to come with one number, but I'm working with a 200 million overall fully diluted share number, and then the 40 million additional shares he's going to get, stocks staying above 1750 for 20 average trading days after the despback, that's done. Which one needs- which one needs more equity? Paramount or Trump media? It's a good question. Paramount's $8 billion. The plan with Paramount would be to raise $3 billion, if in fact the deal that they are now in exclusive conversations about with David Ellison and his partner Redbird happens. The plan, as I've explained, would be buyout national amusements, you raise $3 billion in equity. A lot of that backstop by Larry Ellison, David Ellison's dad, but it would still be deluded to shareholders. You know, you've got a special committee there that's going to have its work cut out for it. It's a couple of directors being advised, obviously, by a well-known investment bank. You want to create a record, if you're that special committee, a really good, strong record to withstand what is going to be an avalanche of litigation that you're inevitably going to get, but you want to make sure you've got a great record that says, "Hey, we looked at everything, we did everything, we did the right thing here." That's where, you know, that takes the place, really, of a vote from the majority, the minority, if you have a special committee doing the work that it is doing. And by the way, it may take a while. They are in exclusivity. It doesn't necessarily mean they're going to stay there because it's not clear, based on what I've heard, that they're going to get a deal done in the next 20-some-odd days that they have left of exclusivity. Doesn't mean you can't extend it. But we'll keep an eye on Paramount chairs. They are up, as you see fractionally, down again next year. They have a Disney post-Pelts. Disney post-Pelts. Back to work, man, back to work. That's all. You, Johnson. Yeah, you want to hear from you. Sure. CFO. We need to, we want actual, like, business. Jim, now it's just about delivering and executing. It's making sure that direct-to-consumer gets to that level of profitability that has now been expected by the shareholder base. Any prospective sports are looking a little better? We've got some good numbers that we've made out of, Phil? Wouldn't that be something if ESPN could have it? Yeah, ESPN is still a very important contributor to the overall Walt Disney Company's earnings. And Jim, he should be considered for CEO. I think he is being amongst those being considered. Anyway, still somewhat early days for who's going to replace Mr. Eisner. He's not Mr. Eiger. He's not stepping down for another two-and-a-half years. Well, but that, if you do want somebody in the role a lot sooner, then. Well, Corman is going to do a very good job on the search because he's a hit. But I'll come back to you. Own it here or not? Yes. Yeah? Yeah, I would own it. Peltz is out. I would own it. Peltz is out. What does that mean? He's sold a stock. Mike is in. But I think that Nelson Peltz, I understand, took a very big profit. However, Perlmutter was the main part of the overall. So, he still owns the shares, we think. Perlmutter is very, very charitable. Big supporter of Trump, I know. It was very charitable. It was Perlmutter Cancer Center. That was something he can't let him go. Made a lot of phone calls. We're used to about $500 million in about an hour. Well, he got Robert Downey Jr. teasing a return to Marvel. So that's good for something. Oh my. Look, I don't think that Peltz getting out of his reflection on anything on the fact that it's a big win. I mean, a big, big win. Jim, GE Aerospace down almost two. Goldman assumes it a buy, 190. But there is some reporting about a squeeze and travel capacity in the airline business because traffic's going to surpass pre-pandemic, we think. And Boeing deliveries, and airbus deliveries. They're kind of slowed. Yeah, they have. But take a look at the incredible action in RTX, which is Greg Hayes's swan song. But that is the good analog, and that's not seeing any let him. I remain very positive in GE Aerospace and really positive on all the other parts of it. I think they're really good. Although you said that Vrenova was your top of the throat? Well, because I just think that people don't understand the power of Vrenova. It's down a lot from where it came public. And the turbine numbers, which David used to look at in terms of trying to figure out the service. Remember the turbine numbers? It was kind of… Remember? Don't you remember when you told me that the turbine numbers were… Oh, turbine. Turbine. Turbine. They call them Turbine. Not a Turbine. Not something I'm wearing in my head. Turbine. God. Yes, I did look at those numbers, Jim. The all-some acquisition. Remember that one? Oh, yeah. That was a suboptimal. That was suboptimal. Larry? The last big deal that I think was that one. Yeah. Yeah. Remember when I, Japan was going to do like, kind of make it so it was software? Yes. Predicts. Do you remember when that came in, go ahead and say it about? I did. How about that? industrial internet. Yeah. What Ken Laan said was, "Good luck with that." Remember John Flannery? He's a Red Sox fan. It's a lot of deep… Deep tracks there on GE this morning. Market continues to kind of sit on its hands a bit ahead of CPI tomorrow. In a narrow range, down 12, hovering just above 5,200 S&P watch bonds. We're pretty clean of fed speak and data today. Oh, thank God. Before the inflation print tomorrow, 10-year holding 4, 3, 7. Don't go away. CNBC lands in Colorado this week to explore how Denver and Boulder have leveraged the Rocky Mountain lifestyle to drive high growth business centers in aerospace, in energy, health, venture capital, and tech, quantum computing. But of course, explosive expansion almost always comes with some growing pains. In both cities, local leaders look to the future with a plan to stay on top. Do not miss the premiere of Cities of Success, Denver and Boulder. It's Thursday night, 10 p.m. Eastern time. Coming up next, it is Stop Trading with Jim. Let's get to Jim and stop trading. We're getting a lot of numbers that say that PC shipments return to growth. July and September will be new iterations with artificial intelligence built in for HP. Eyes turn around and say that my club has been buying Best Buy. Because I think Best Buy is the one that is the biggest beneficiary of return to growth. Corey Barry knows what she's doing. They already have the terrific Samsung phones. They're selling, so that's why. You've been on this idea ever since Microsoft announced that button. I think it's huge. I think that the refresh is being completely misjudged. You talked to Enrique Lorres. They are building and building and building to meet the demand. The refresh is going to be the biggest cycle, maybe ever. Because you get the AI button. Co-pilot. Speaking of all that, Jim, tonight, Crowd and Elf. And Elf, Elf, we're going to get to the bottom of whether Ulta was really bad or maybe it's Sephora and CrowdStrike. We're going to analyze the micro-sociability to protect us. And you know, Elf, I'm going to ask about that because I'm tired of getting told from people exactly what went wrong with me and then asking me for money. From Medicare. Medicare. You feel like all your information's out there. They have everything. They had everything. They had the hospital. They had the surgery. Everything. Jim, we'll see you tonight. Absolutely. Mad money. 6 p.m. Eastern time. We're going to continue to watch Amazon, see if it can get back to 188, aiming for a new all-time high. Dow's down 72, back in three. You've been listening to the opening hour of CNBC's Squawk on the Street. All opinions expressed by the Squawk on the Street participants are solely their opinions and do not reflect the opinions of CNBC. CNBC Universal or their parent company or affiliates. And may have been previously disseminated by them on television, radio, internet or another medium. 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