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so uh one of the other things that we are watching now is uh tesla and that's because morgan stanley is out with a new note adam jonas over there across the auto coverage um talking about a bunch of different things that are pushing on the industry slowing growth headwinds from credit one of the big names that was mentioned in this note was indeed tesla but really he cut price targets on a number of uh different companies in his coverage university yeah i'm john his friend of the show always enjoy uh his notes on this note he's still staying in overweight rating on tesla into earnings he still thinks tesla can leverage its cost leadership in evs to aggressively expand its user base so more of the same from jonas long time bowl in the name yeah at the same time we also have an initiation of coverage of tesla here this morning as well that coming from truist and william stein over there who interestingly covers semiconductors and he's got an initiation with a buy rating here this morning for what it's worth so that's obviously more the consensus view on tesla right um you know that that he's got a thousand dollar price target for example and that ai innovation should turbo charge core ev growth those ai innovations that he's highlighting even as the head of ai at the autopilot program just announced yesterday that he's no longer with the company can we just stay on cars for a second uh this bmw bmw story about charging people for uh what heated seats yes i hope this is not a look into the future i am not paying 50 a month for ac or heat in my car i mean this is ridiculous this now seems to be what started i think is a joke amongst the automakers because they couldn't get semiconductors into cars it now it's starting to turn what appears to be a big real business model for them i'm not paying for these things i don't know if it's a big real business model when one automaker is doing it but let's hope it doesn't i hope it doesn't do the other ones would you pay for heated seats no i don't know you don't need seats you don't really need heated like i don't have to draw the line somewhere i want buy one of those old school fuzzy seat covers everybody wants to be the netflix of everything julie they all want to create and grow subscribers and create recurring revenue and become a miles upland favorite sas play but you can't do that when you sell a car for 150 000 you want heated seats you don't want to pay more for heated seats i'm very fired up about this i think it's terrible i okay on bmw all right that was i was not expecting a discussion i'm just saying i'm living at the moment now everybody knows how you feel about it um we are less than a minute until the opening bell here this morning and we're looking are looking at pressure on the major averages in the wake of wholesale prices rising at an even faster pace than consumer prices yesterday we've got 100 basis points being floated as an increase in rates from the fed at its meeting uh its upcoming meeting so a lot of uh sort of nervousness out there yeah what do you think we're in a bear market people want to pay for heated seats julie come on look at this market they're down over 500 points on weak bank earnings i'm not paying for heated seats you can't be mad about the eggs anymore because wholesale egg prices are going down now you're mad about the heated seats this is sassy's day of rage it is switched his attention has switched to something else there we have the opening bell on this thursday morning here some other commentary by the way coming to us from jamie dimon on the conference call and again he's really emphasizing the strength of the consumer here he said um that he said even if we go into recession consumers are entering the recession with less leverage and far better shape than they've been he said they're in better shape than they were in 0-8 0-9 far better shape than they did even in 2020 jobs are plentiful he said now of course jobs may disappear things happen oh yeah no big deal but they're in very good shape and he reiterated his storm commentary as well so by the way we're seeing the banks pull continue their pullback here this morning jp morgan really to me the most eye-popping headline this morning was the suspension of buybacks and we also see them adding to reserves so sort of if it is a storm they're battening down the hatches i think would be the easy well they may not be batting down the hatches with more frozen food
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