gabriela thank you, joe terranova thanks as well. the uaw strike looming this evening. contract talks nearing the deadline. phil lebeau is here with the gm north america president. take it away. >> thank you, scott. mark royce, president of general motors, you just made a fourth offer earlier today to the uaw. talk about this a little bit because a lot of people are saying what is gm bringing to the table? 20% raise over the life of the contract, 4 1/2 years? >> that's correct. if you look at that and some of the spikes that happened from an inflation standpoint we're getting a lot of people into a great place here for us employee wise. >> you got that, plus for the first time you are basically saying the facilities, the plants that we have, we're going to be -- a that's through the life of this contract. we're not planning to close any of these plants? >> that's job security. that's important to not only our team members and every employee in general motors, but also the communities that these plants and our suppliers are in. you know, that's a big deal because if you

joining me josh brown, joe terranova, jenny harrington. check the markets first and foremost as we get back to business in september here. we've been negative for the session. jenny, september is historically week, coming off a bit of a pullback in august. it leads you to believe momentum isn't lost. it may be found. what do we think about where we might go? >> i think we're still stuck in a range, we're battling with the emotions of feeling better, seeing corporate earnings do better than we expect. we're seeing goldman say things like, hey, we're decreasing the chance of a recession. then we're fighting the math on it. i don't see how the multiple on the s&p gets above 20 times. with that you have a heavy cap on the market. we're stuck in this range and it might take time to get out of it. investors are impatient. there's so much we still need to digest. we're digesting 18 months of rate hikes, the fed reducing their balance sheet, the inflation reduction act, unemployment levels that are changing, inventories. everything is distorted. w

joining me for the hour today everybody here at post 9, joe terranova, jenny harrington, jason snipe, and jim lebenthal. let's check the markets, see what we're doing today. we're red across the board as you can see. the dow down 136, the s&p a quarter of a percent, the nasdaq is weaker. there's the ten-year note yield, 4.58. so, joe, we're headed for the worst month of the year, as i said, but here is something from bespoke. this is how i want to kick off the conversation. the last four septembers for the s&p 500, 2020 we're down 4%. 2021 down near 5%. 2022 down more than 9%. 2023 down more than 5%. that sounds bad. the last three q4s, 2020 up almost 12. 2021 up almost 11. 2022 up 7. 2023, question mark. do we have a repeat? does history repeat itself? do we have a good fourth quarter for stocks? >> i believe it will be a positive quarter. i've said that on air. you have significant quarterly weakness, we'll talk about the reasons why in a second. i do think the prevailing trend of 2023 takes hold once again, and it's led by mega caps. it's led by technology because in this environme

. >> let's broaden the conversation out if we could, bring in joe terranova and nicole webb. joe is a cnbc contributor. joe, playing off what liz ann just said, fairly richly valued, valuations of the market because earnings are in her words not realistic. your response? >> well, i think it is fair to say that. i think we don't know ultimately where we're going to go with earnings until we begin to hear from companies in october. and i think that's why you're in this period right now, it is almost a period of purgatory where we are beholden to the macro. i think liz is spot on in terms of oil yields and the dollar leading ultimately where the tape is going to go. but let's remember, there is nowhere to hide now in the market. we keep pointing towards apple, we keep pointing towards the nasdaq. it is actually the russell down the most of the major indexes. >> russell is down 5% in a month and it is the only of the three -- only of the majors that is both down over three and six months as well. >> people tell you trade up high in quality, well, look at the debt market, investmen

joining us is steve weiss, joe terranova and kari firestone. a quick check on the market at noon eastern. losing a little bit of steam. energy is the laggard down 0.8% and utilities leading the way higher by about 1%. the vix is just trading below 14 so things are feeling calm. joe, what do you make of the cpi number? trending in the right direction, would you say? >> 50/50 for november in terms of a rate hike. i don't think we did anything to gain a degree of clarity, what that move will be from the federal reserve. i think it just added to an overall environment for the month of september. i was asked last evening at dinner, how would you describe the month of september in the equity market, and i responded with sharply unchanged. and that's how it really feels. the markets seem to be going to a lot of different feelings, different complexity. what should be comforting for investors. two things haven't happened. number one, we have not defeated the prevailing bull trend of 2023. there's still that strength. and volatility remains at low level

joining me for the hour joe terranova, jenny harrington, jim lebenthal, capital wealth planning kevin simpson, the cio, and he is with us at post 9. let's check the markets. we have cross currents. we are red across the board. joe, i have the vix at more than a three-year low, oil the highest level of the year this week, yields are up today. there's taiwan semi news. the dollar index, the ninth straight weekly gain. i mean, you put it all in and you mix it up, what do you take out? >> i think we were kind of overdue for this. listen, in the month of september, we have not yet had a 1% move on any given day. we're sharply unchanged. so today when you have treasury yields, which are stubbornly high, near 16-year highs,fact, when you see the price of oil go to $91.15, when you understand today is not just a triple witching day but a quadruple witching day, the statistics behind that, scott, they're not good. if you go back to 1990, i think bob gave the statistic, you go back to 1990, the week following a september witching, the market is down 1% on average is the loss. bring it all toget

joining me for the hour joe terranova, jenny harrington, jim lebenthal, capital wealth planning kevinthe cio, and he is with us at post 9. let's check the markets. we have cross currents. we are red across the board. joe, i have the vix at more than a three-year low, oil the highest level of the year this week, yields are up today. there's taiwan sem

josh brown, shannon, joe terranova and steve weiss joining me for the hour. there's the s&p 500, good for one-third of 1%. and the ten-year note yield 432. that's the story of the day, weiss, we are mostly hanging in there. >> yep. >> and maybe apple has something to do that, and got an uptick on the iphone 15. amidst a lot of nay saying about where we are going from here? >> yeah, i think friday's action, as i interpreted traded down on reuters, and they said hold off on sending us more technology equipment. if you look at how it hurt tech, you had meta down 3%. they don't buy that equipment, and the point is that we are in shifting sands of a high valuation still in the market and it's not going to take a lot to get it down. we will go to wednesday, and been -- look, i don't think powell will change his narrative, which is that we are going to be data dependent and rates will stay higher for longer. that's a controlling narrative. where it gets really interesting, and where it will be a test for the markets as we go into earnings, because you set the bar ve

joining me josh brown, joe terranova, jenny harrington.he markets first and foremost as we get back to business in september here. we've been negative for the session. jenny, september is historically week, coming off a bit of a pullback in august. it leads

josh brown, shannon, joe terranova and steve weiss joining me for the hour.rd of 1%. and the ten-year note yield 432. that's the story of the day, weiss, we are mostly hanging in there. >> yep

let's bring in joe terranova, of course a cnbc contributor. and thanks for joining us. i wonder whether you think that given the intra day action today, is yesterday's bounce called into question or not? >> well, it is end of the quarter. just look at oil. oil $95 early. today settles 2% lower, significant reversal because oil was technically overbought. so there is a lot of dynamics that are playing out in the market. small caps are back, small caps have been brutal over the last quarter. so a lot of positioning going on. i think that you have to now look forward into q4 and say to yourself is there a a catalyst ahead of us and i think that it would be earnings. i think that is the catalyst that can restore the prevailing bull trend for the equity market. we need technology, which has seen a lot of earnings revisions higher here as you march toward the end of the quarter, and that is somewhat inconsistent to prior seasons. it is going to be technology that is going to have to lead us back hire. so it is all about earnings. >> do you think we've already passed the perio

joining me for the hour today everybody here at post 9, joe terranova, jenny harrington, jason snipe,al. let's check the markets, see what we're doing today. we're red across the board as you can see. the dow down 136, the s&p a quarter of a percent, the nasdaq is weaker. there's the ten-year note yield, 4.58. so, joe, we're headed for the worst month of the year, as i said, bu

joining us is steve weiss, joe terranova and kari firestone. at noon eastern. losing a little bit of steam

joining me today joe terranova, stephanie link, shannon saccocia and on set with me is liz young, sofire in the green for the dow and the s&p. the nasdaq was. it has turned into the red. we're watching

joining me today joe terranova, stephanie link, shannon saccocia and on set with me is liz young, sofi, of course. we are in the green for the dow and the s&p. the nasdaq was. it has turned into the red. we're watching yields, ten year, 4.32. oil was a big story. it did pull back. it's higher again as we come on the air here, 12:00, noon, in the east. judgment day. see what the fed says. not necessarily what it does and what you all do based on what they say. >> every time we do this, we say it's the most important one since last time. i think the fed is in a decent position in fall, because the calendar is giving them a favor in the sense they had a built-in pause in august, they could wait and see what the data said. another built-in pause in october, they can wait and see what the data says. right now the data does not justify a move either up nor down, it sort of lets them stay on pause. as of this morning the market says a zero percent chance of them hiking. i don't expect we'll get any big surprises today. i do think what we're setting up for a zero percent chance today and only