Wellpositioned to win the streaming wars. It is all coming up today on coast to coast. Our top story, new reports say saudi arabias oil out put will indeed return to normal levels maybe the next two or three weeks. That is a lot quicker than the months we originally had been hearing. It comes as iran is now responding to the allegations made by the u. S. Blake burman at the white house to pick up the story from there. Whats the latest, blake . Reporter hi, there, connell. On the political side of things the white house is still walking a fine line saying that they believe iran or at least at this point signs are pointing to iran being behind the attack on the saudi oil complex. They are not yet willing to definitely say that they are absolutely certain that is indeed the case. Remember as part of the response from President Trump over the weekend, his initial response was that he said that the u. S. Was quote, locked and loaded. Yesterday on three different occasions when we heard from
Good Tuesday Morning welcome to squawk alley im Carl Quintanilla with morgan brennan. The market is down about 100 points starting with the apple special event set to kick off from the steve jobs theater in cupertino in just under two hours. Josh lipton is there live and joins us with what analysts and investors and reviewers are expecting. Hey, josh. Reporter so, carl, apples biggest day of the year just about to kick off here right behind me at the steve jobs theater. As you mentioned, analysts think they have a good beat on what is coming theyre looking for three new iphones. Faster processor and improved camera and maybe stronger waterproofing and shatter resistance big question for investors is pricing. What is tim cook going to charge for the new model. Ive talked to some analysts who think he will keep pricing basically constant no big change from the kusht lineup which starts at roughly 750 and 1,100 and expectations are muted on the street. Checked in with gene munster and wha
100 accurate all the time, of course, other tv weather forecasters cheat just a little bit. They over predict rain. Here is why. If they are right and it rains, they are accurate. If it doesnt rain, nobody cares they said it would. They just go enjoy the day. Keep that in mind as you hear one in three economists surveyed by the National Association of business economics says the u. S. Economy will be in recession by 2021. That jumps to three in four if you extend the guess out to the end of 2021, which is why i brought the rain analogy. You only remember the people who failed to predict the storm. Its safer to say its going to happen. Its possible those economists are hedging their bets by predicting recession. That said, lets talk about what Silicon Valley needs to do just in case. I thought we would get in touch with the partner at emergence capital. Smart guy who is some of the big money behind one of the most successful ipos of 2019, zoom video. He has been through booms and busts
Of the New York Stock Exchange carl and morgan have the morning off. And were going to begin with tech bracing for tariffs now just days away from going into effect on september 1st trade tensions between the u. S. And china not slowing down, as the wall street journal reports that u. S. Prosecutors investigate new allegations of Technology Theft against huawei. Acme capitals heene nada and kevin dilanian, of course, both join us here at post 9 happy preLabor Day Weekend. Good morning. Heenne, you were a protough stance gen china when it comes to ips and other things. When it comes to these tariffs, september 1st, december 15th, are you pro this approach . Does it depend if it gets nearterm results . I think the tariffs are going to do some harm in the nearterm. I think youll see pricing increases in the u. S i think youll see trade tensions worldwide globally. But i think the longer term impact is actually much more detrimental to china than it is to us. Whats happening is Tech Compan
Impact the broader crypto market. From trump, to owe walmart, to zuckerberg. No one is safe from doctored videos that are so good that you cant tell they are fake. One company says it can. First to our stop story. Big Tech Companies were back in washington monday, but not to discuss crypto currency or antitrust, trumps top advisor and treasury secretary called a meeting to talk about the impact of the trade war with china. One stood out. The administrations fight against that and whether the ban should stan. Representatives from microsoft, intel, qualcomm and more. To discuss in d. C. , we have jenny. What is the latest we know about this meeting . Who was there and what was discussed . What we know is that the meeting was called basically to hear a view from the business perspective of this whole debate. Do hear a lot about the fight from the hawks in the administration and on the hill who are in favor of a total decoupling of supply chains. This is the companies opportunity to make t