j jon fortt has an exclusive not long from now. continue to watch north carolina, south carolina, and increasingly inland as the storm has made ldfanall about four hours ago. "squawk alley" is back in a moment feel that? that's the beat of global markets, the rhythm of the world. but to us, it's the pace of tomorrow. with ingenuity, technologies, and markets expertise we create the possible. and when you do that, you don't chase the pace of tomorrow. you set it. nasdaq. rewrite tomorrow. this is moving day with the best in-home wifi experience and millions of wifi hotspots to help you stay connected. and this is moving day with reliable service appointments in a two-hour window so you're up and running in no time. show me decorating shows. this is staying connected with xfinity to make moving... simple. easy. awesome. stay connected while you move with the best wifi experience and two-hour appointment windows. click, call or visit a store today. >>> welcome back to "squawk alley. i am jon fortt i am with shantanu narayen >> welcome

i am carl quintanilla with sara eisen, jon fortt is back from out west s & p is losing ground, down 11dow down only 33 >>> president trump tweeting, touting benefitsof his trade policies, including various tariffs on things like steel and aluminum another round of tariffs against china is expected to be announced as early as this week. do we know when the announcement is coming? >> reporter: we still don't know i talked to a senior administration official yesterday that said the announcement was a done deal behind the scenes. the announcement was going to come monday or tuesday here we are, 11:00 on the east coast, and still no information on announcements stand by for that. here is the president's tweet from earlier this morning. tariffs put the u.s. in a strong bargaining position with billions of dollars and jobs flowing into our country, yet cost increases have been almost unnoticeable if countries won't make fair deals with us, they will be tariffed the question is are we getting the announcement in the next 48 hours or not it would seem likely in fact tariffs are coming as to the

let's get to jon fortt to talk about the cloud, to the degree we are able to on this busy news day, jon we certainly can, carl. i want to get straight to the three ceos the ceo of microsoft, you brought this group together from adobe, bill mcdermott from sap i have never seen anything quite like this frankly. i have been doing this on air and in print for awhile. more than a trillion dollars of market cap represented by you three gentlemen sitting here, and we are announcing open data initiative in the cloud. why is this so important >> you know, the insight that all three of us had based on the work we are doing with many customers, we talked about coca-cola, walmart today as customers that are excited about this open data initiative, it is their real insight that led us to do this, which is how do we work to put them in control of their own customer data. that's the real currency any brand out there cares deeply about the continuous improvement of their own customer data understanding, and the three of us coming together is going to be central to them feeling in control of their own c

on margins and average selling prices >> seeing tim cook at the front door josh, morgan brennan, jon fortt here at post 9 the cycle is not the cycle any more this fills up quickly now. >> carl, if you have a capitalist bone in your body, it melts your cold, cold heart. they're selling phones today that start at a thousand dollars and people are lining up outside. you would say it is a testament to today's economy, but apple has been pushing the envelope on margins for a long time. this is a new level for them it is a statement that goes against so many of apple's critics that claimed over time, the samsungs of the world, name a company to drive down apple margins, they have to come out with cheaper phones. they eliminated the cheapest phone, and sold a more expensive, bigger one. you have to see how the holiday quarter turns out for them they used cash to have this advantage of retail locations like this one. >> josh, it is always anecdotal, is there a way to sort of characterize the wait, the line versus prior door openings >> reporter: 6:00, 6:30 local, about 30 people were in line i thi

i am carl quintanilla with morgan brennan, jon fortt. the fall of an american icon, les moonves is out after a number of new allegations of sexual misconduct. and it marks the first fortune 500 ceo to leave as a result of the me too movement. jane wells joinls s us with more details. >> reporter: moonves is out, half the board is replaced now what will moonves get any severance which could be as reported $120 million. 20 million is being given to a group or groups supporting women in the workplace if the company's outside investigations find he violated cbs policies, even if some alleged events happened years before he was at the network, he could walk away with zero other than benefits fully vested will cbs be sold or merged with viacom sherry redstone says she won't force it for two years if the new board decides to merge or sell, she's all ears. 6 out of 14 are women on the board. who will be the next ceo joe eianniello? untrue allegations from decades ago are being made against me that are not consistent with who i am it is the end o

i am carl quintanilla with morgan brennan and jon fortt the big story of the day, apple shares up 2% after yesterday's product launch investors wonder about the new iphone and watch will we see a slowing of replacement cycle. joining us, david wolf, apple shareholder, and ceo and editor in chief henry blodget we'll talk about the phone in a second the question is whether the watch was the most impressive part. >> seems like they're doing a great job it rating -- iter ating on it. they're doing what they did with the iphone people look at it like it was immediately, totally revolutionary, changed the world. first one, lots of skepticism, and they got better. >> given the fact we have larger screen size for the iphone and didn't get more details about other possible devices like ipads and mac books, do you think this is something that continues to cannibalize ipad sales? >> if you go back to history of the ipad, following iphone, expectations got wildly out of whack in the beginning people said it will be bigger than the iphone, ipad company. we had all indications since then that repl

. >> yes they made the delineation of that jon fortt, we didn't get the big, broad anti-trust discussion that maybe some were fearful of early this morning. >> yeah. i would say that the main characteristic of this hearing for me before the senate intelligence committee was neither side was on their heels. the senators seemed very well prepared with substantive questions of technical issues, social impact. the technology executives didn't appear to break a sweat at all in answering these questions as julia mentioned, there was the exchange of harris and sandberg over making money off of fake accounts there was also an exchange between senator tom cotton and jack dorsey over to what extent twitter owes additional allegiance to the american government versus other governments and how they enforce their policies i thought jack dorsey had an interesting and strong moment saying that twitter users expect no matter where they are in the world that twitter will inforce the policies fairly. twitter has come under as we have talked about often some scruti scrutiny lately for perhaps not stating t

biggest gainers today adding more than 50 points to the dow all by itself >> and let's get out to jon fortt. what is the latest >> well, this is a big day and the presentation has started apple is rolling that traditional first video to kick things offer this is going to be an unusual iphone announcement i believe because we're talking about three new phones at the high end. last year when we got the iphone x, people were questioning whether people would pay $1,000 for a phone. nobody is questioning that anymore. the question is, how much more might they be willing to pay and what will that do for apple's revenue growth and margins in light of all of the things that we've been talking about you in he thinksmentioned the w. an important issue is the ecosystem. they often bring partners on stage for these announcements. apple gets people to pay a toll to enter the app store to be on the iphone to get their apps and services on the iphone will they do more to tie people into that as we see the like of amazon, netflix chafing at paying that toll will they be able to keep people in line. so thos

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. >> jon fortt is live at the microsoft conference in orlando. n. >> it's a new kind of coalition of sorts led by microsoft, satya nadella bringing two more ceos on sgeta we'll talk more about what they said after the break >>> microsoft, adobe and s.a.p. joining forces to help company manage data, they're calling it the open data initiative jon fortt spoke to all the ceos and he's there >> i don't know i've seen one quite like this in a long time if ever. these three companies together, more than $$1 trillion in marke cap, most of that from microsoft, they're forming this sort of coalition. i say sort of because they still all compete in certain edgeways, but this open data initiative seeks to say customer, the data belongs to you you should be able to mine it no matter which platform it sits on they argue now if you have some data with microsoft, some with s.a.p., some with adobe, certainly google, facebook, it's way too hard for the customers themselves to grasp all of the data if you're going to talk about open data, security is a concern. i a

. >>> time to send it to jon fortt on what's coming up on "squawk alley. >> david, what's the investingast four months of the year we talk to former cisco strategy exec, a board member atrophy -- at fiat chrysler coming up on "squawk alley." the lexus ls 500 and ls 500h. experience amazing at your lexus dealer. with pg&e in the sierras. and i'm an arborist since the onset of the drought, more than 129 million trees have died in california. pg&e prunes and removes over a million trees every year to ensure that hazardous trees can't impact power lines. and since the onset of the drought we've doubled our efforts. i grew up in the forests out in this area and honestly it's heartbreaking to see all these trees dying. what guides me is ensuring that the public is going to be safer and that these forests can be sustained and enjoyed by the community in the future. >>> welcome back the energy sector is extending losses after the worst day in three weeks, on pace for the sixth straight negative session. crude oil heads for the worst week since july. watch those stocks back tyoo u, carl. >>> dow

. >>> let's go over to jon fortt with a look at what's up next hour on "squawk alley. >> good morningguidance has it down chip shortages having an impact, maybe tariffs too. the ceo will join us to sort it the ceo will join us to sort it out for us coming up powered by intel core processor technology. now we can access our network and work together from anywhere. hey! hey everybody. you coming back for the team building? mobility by lenovo. no? it orchestration by cdw. ♪ lease the 2018 rx 350 for $439 advana month for 36 months. experience amazing at your lexus dealer. >>> welcome back to street street stocks barely trying to hold onto gains to finish the trading week after closing at record highs yesterday. energy among the best performers in early trading crude oil is rising, continuing the climb up 4% this week. leaders to the up side, new field exploration, marathon petroleum. keep an eye on those stocks and prices >> on the rise today >>> coming up later on "the closing bell" walmart's tariff warning. the former ceo of the u.s. division bill simon is our guest to discuss how much

. >> rick, thank you >>> let's send it to jon fortt with what's coming up in the next hour on "squawkg. you think global trade, you've got to think shipping lay men. how has movement of goods been effected by trade tension around the world. we have the navy secretary to talk authaanmo cin up on "squawk alley. the closing. (sighs) i hate missing out missing out after hours. not anymore, td ameritrade lets you trade select securities 24 hours a day, five days a week. that's amazing. it's a pretty big deal. so i can trade all night long? ♪ ♪ all night long... is that lionel richie? let's reopen the market. mr. richie, would you ring the 24/5 bell? sure can, jim. ♪ trade 24/5, with td ameritrade. ♪ adults are just kids with much, much better toys. [ giggling ] introducing the 2018 c-class sedan, coupe and cabriolet. the thrills keep getting better. lease the c300 sedan for $399 a month at your local mercedes-benz dealer. mercedes-benz. the best or nothing. >>> welcome back to "squawk on the street." a day after late day losses in the wake of the federal reserve decision to raise interest

i am carl quintanilla with morgan brennan, jon fortt at post 9 of the new york stock exchange stra straighttesla. worst day since july on news of top executive departures, including the chief accounting officer leaving a month after one month on the job elon musk's appearance on joe rogue and's podcast, smoking pot, drinking whiskey, handling samurai swords got an apology after a contentious call and guys, happy friday appreciate you helping us make sense of all of this tony, let me start with you. all of the executive departures, obviously cash flow, and now this sort of extracurricular activity as he goes on this interview. does it effect your research or not? >> it doesn't ultimately object the value of the company, how many they can make but it effects investor sentiment. everyone knows that elon is not your archetypal ceo for many of the reasons you cited. but he is a genius he has been a disruptive force in the global automotive market. and investors have to weigh that at some point some will say these are too distracting to us and the companies and we worry about that, they will sell

i am jon fortt, with me at post 9, mike santoli, david faber carl and morgan have the morning off. >>c is suing elon musk, alleging fraud and saying he issued false, misleading statements musk tweeted thinking of taking tesla private at 420 funding secured. joining us, founder of inside.com and early uber investor and andrew sorkin andrew, i want to start with you. musk says his intentions were pure in all this, that he would do it again if he had the tweet to do again, he has said that. what does the sec have to prove, what's your latest reporting >> my latest reporting, david faber has been reporting on it is that a settlement, the bird was in the hand if you will, yesterday morning there was a settlement ready to go it would have included i would describe as cosmetic, it would have included a no admit, no deny settlement. you would not have to accept any real sense of guilt which would help the company in terms of liability for class action lawsuits from other shareholders he would not have been chairman of the company for two years but could have remained as ceo and on the board t

i am carl quintanilla with morgan brennan, jon fortt at post 9 of the new york stock exchange we keep our eyes on the kavanaugh hearing, trade, rosenstein, the white house. we begin with facebook a good place for startups on shaky ground what brian acton's criticism of mark zuckerberg is he called it a whole new standard of low class. for more on the continued turmoil, we are joined by contributor walter isaacson and sus susan lyons. if the departure for the executives wasn't enough, back and forth between marcus and acton says a lot about culture at the company, who has responsibility for the position we find ourselves in as a country and planet, regarding social media what are your thoughts >> it says a lot about the culture. it says a lot about the business model, you have to monetize people that use the service to sell access. you are going to end up doing everything you can get away with i think the most important thing that brian acton said and it wasn't a low class statement, he is one of the what's app founders criticizing facebook, he said we were trying to find out revenue m

jon fortt is here, morgan brennan is off dow is up 29 apple is a big story this morning, ahead of the product launch tomorrow where three new iphones and other products are expected to be unveiled. stocks up today, but coming off four days of losses, and those tweets from the president pushing for the company to make products in the united states. joining us, cnbc contributor, advisory partner of walter isaacson, and casey newton in silicon valley we turn our attention back to business news. walter, i don't know what you find most interesting, the incremental steps on product or the degree to which their supply chains may change or not the president did hint they had plans to create new plants in this country >> right first start with the incremental changes in product i think it would be good to have a less expensive iphone and new grander more expensive iphone. i remember when steve jobs was running the company or when he came back to the company in the late 1990s, what they had done is milk the mcintosh product line, had six different variations, and xs and xss and xrs. he said it

morgan brennan back at post 9 and jon fortt.5, despite escalating u.s., china trade tensions chinese officials retaliating after the president announces tariffs on billions of imported goods. quite a day. >> i am calling it the tug of war on tariffs here is where we stand china announced it is moving forward with tariffs on $60 billion of u.s. goods, the rate will range from 5 to 10% and it could go higher chinese tariffs go into effect september 24th that's the same day that the u.s. will begin imposing duties on $200 billion of chinese goods. initial rate for u.s. tariffs is 10%. it will jump to 25% on january 1. president trump tweeted this morning china has been taking advantage of the u.s. for years, and promised great and fast economic retaliation if china targets american farmers, ranchers, manufacturers. business groups warned tariffs whether from china or the u.s. will hurt their bottom line, and ultimately result in higher prices for consumers wilbur ross, commerce secretary, argued earlier today households won't notic

i am carl quintanilla with morgan brennan, jon fortt at post 9 of the new york stock exchange the s & some record highs, up 230 here. original record from january 26. we are higher by that by 20 points boeing, caterpillar, tech outperforming. joining us, henry blodget, business insider ceo talk about the action we are seeing what do you make of this took 8 months, we are finally back to the industrials. >> everybody loves a bull market great. valuations are getting more and more extended. as we know, can last for a lot longer than you think possible >> we had a year of multiple compression. are things expensive in your view >> the market as a whole is tremendously expensive on any cyclically adjusted metric nobody should be surprised by draw down, hope it happens way in the future and hope it is a new era of valuation >> steve, where are you? >> yesterday was an interesting day. price to sales ratio that just passed what we saw in 2000, so 19 years and it is getting scary. i agree with henry we love for this to ride as long as possible, but it is feeling like it is getting scary >> st

. >>> let's get to the other news of the day, shall we back out to cupertino to jon fortt and his awesome leather jacket for more an apple's big day. jon? >> yeah, it's going to get busy here in cupertino as well. josh lipton is here with me. josh, what's more interesting, apple challenging this idea that to make more money you have to sell more iphones, or something around the apple ecosystem, things we might see around watches, around augmented reality? >> so i think both are really interesting, jon, because i think in one sense a very different company, and we've talked about this, operating in a different smartphone market. so i do find it fascinating just how broad the portfolio is right now you have phones ranging from $349 to upwards of $1,149 you know, different phones based on pricing, on specs, on memory content. if the rumor mill is right, it stays that broad i'm really interested in what they're doing at the high end specifically, a differentiation there on pricing and specs and to your point about the ecosystem, i think it would be interesting if the high-end phone is what we

. >> so, steve, when you looked at yesterday and our coverage here, jon fortt, what was your biggestaway and the headline behind the headline >> the biggest pri efgest surpr they didn't announce a year ago they announced the air powered wireless charger device this year we heard nothing about it it appears it was delayed they said it was coming in 2018. that was over 365 days ago now it's unlike apple to make a bold announcement to say we're going with wireless charging and not go through so what they did not announce is more interesting than what they did announce >> steve, thank you very much. >>> still to come, taking aim, we're live on the ground in north carolina orwi eha closing in. "wlddexcnge" will be right back just investment advi. from insurance to savings to retirement, it takes someone with experience and knowledge who can help me build a complete plan. brian, my certified financial planner™ professional, is committed to working in my best interest. i call it my "comfortable future plan," and it's all possible with a cfp® professional. find your certified financial plann

everyone who loves a jon fortt movie talking about great countries in europe would love it china would it. >> i think americana feeling in china someday could work right now internationally our biggest country is always august but from a store growth perspective we'll get there someday for the foreseeable future we'll look at ohio, pennsylvania and the contiguous states. >> there's a lot of people candidly believe it's country and it's not a part of the rest -- now let me ask you, i've got to ask about the 30% i know it's not as important as the beautiful dresswear but we are big believers in workwear. we've been recommending cintas over and over again. >> work has been perennialially strong for us in the most recent quarter. we had tremendous growth in work boots and in work apparel. and i think that partly unemployment is so low and -- partly the growth in the texas market given that oil has recovered so we're seeing a lot of flame resistant product and product guys need to wear to work on an oil rig. >> right we've been on oil rigs we totally identify with that. now, you are kind of

jon fortt is here and he joins us on the set this morning with more about what this could possibly meant best defines tim cook's legacy so far as ceo of apple, it's china. and the threat of tariffs presents a new kind of test. cook's work in china on the supply chain side is a big part of what got him the ceo job. since he became ceo, he's transformed apple's business in china from a wild west of products into a top tier market. fiscal 2017, apple booked $45 billion of sales in greater china. that's up from $12.5 billion and 11% of global revenue when tim cook took over the ceo job apple now lists 41 stores in china and 6 many in hong kong. apple wrote in a letter last week that tariffs would hit the apple watch, air pods, apple pencil, home pod and chargers. the iphone itself doesn't look to be affected so far at least in the united states the chinese government could make it harder to buy in china. on the one hand, there's no company better positioned to weather this storm than apple. huge profit margins and a loyal customer base. on the other w57b8d is apple is most high profile comp

. >>> jon fortt has what's coming up on "squawk alley. >> the new iphones onset, are they any good? on "squawk alley. now i'm thinking...i'd like to retire early. let's talk about this when we meet next week. edward jones came to manage a trillion dollars in assets under care by focusing our mind on whatever's on yours. ♪ introducing the all-new corolla hatchback. toyota. let's go places. >>> welcome back to "squawk on the street." stocks near the best level of the day, s&p 500 up by a half percent. industrials part of the big move mostly railroad companies doing heavy lifting. shares of union pacific and csx and norfolk southern drive in that action. watch the locomotive type stocks back to you. >> thank you. >>> kimball musk, brother of elon musk, joined cnbc on the closing bell we asked him about the going private tweet from his brother that rocked the company and its stock. have a listen to what he said. you are a board member, the symptom is down significantly. he said the company is going private, funding secured do you wish he hadn't sent that tweet? >> my brother is working

i am carl quintanilla with morgan brennan, jon fortt.nves is out after a number of new allegations of sexual misconduct. and it marks the first fortune 500 ceo to leave as a result of the me too movement. jane wells joinls s us with more details. >> reporter: moonves is out, half the board is replaced now what will moonves get any severance which could be as reported $120 million. 20 million is being given to a group or groups supporting women in the workplace if the company's outside investigations find he violated cbs policies, even if some alleged events happened years before he was at the network, he could walk away with

santelli now time to send it over to jon fortt.hat's coming up on "squawk alley." >> well, he is owner of "the l.a. times" and part owner of the lakers he's got a new battery out that could compete with elon musk and tesla. we'll hear from him coming up. [ upbeat music ] i'm ready to crush ap english. i'm ready to do what no one on my block has done before. forget that. what no one in the world has done before. all i need access, tools, connections. high-speed connections. is the world ready for me? through internet essentials, comcast has connected more than six-million low-income people to low-cost, high-speed internet at home. i'm trying to do some homework here. so they're ready for anything. >>> welcome back to "squawk on the street." stocks edging higher ahead of the fed rate decision this afternoon. among the names leading the group to the upside, facebook, netflix and video game makers, activision and blizzard arts shares of viacom are higher by more than 3% after another analyst upgrade, citing momentum for media consolida

let's get straight to cnbc's jon fortt live at the apple product event all afternoon long with some headlines jon? >> reporter: you got me with that one three new phones in the iphone x watch and one new watch. we'll break it down for you. the iphone xs which is the successor to the iphone x starting at $1,000 pre-orders start friday. delivered next friday. it's got a new chip inside, enhanced camera features, better color capability in the screen, and then there's the xs max at $1,099 a bigger screen. this one is at 6.5 inches diagonal same delivery times. same capacities starting at 64 gigabytes and then 256 and 512 gigabytes also available with the new a-12 chip. we have the apple watch series 4. that starts athletes say 399, 499 with cellular. the price of the series 3 drops. here is a watch with fda approval as a medical advice device it takes an ecg. it can monitor to see if your heart rate is irregular. whether it's too slow. it can also tell through enhanced gyroscope and other capabilities whether you have fallen if you fall and then don't move for a minute it will place an automatic