Good Monday morning. Welcome to Squawk on the Street. I'm Sarah Eisen with Carl Kintania and David Faber. We are live, as always, from post nine of the New York Stock Exchange.

Ahead this hour, stocks turning higher to start the week ahead of a key stretch for the market highlighted by NVIDIA results.

We'll talk about the setup with RBC's Lori Calvesina.

Plus, we'll get to the latest on the AI trade when we are joined by Jack Hittery from Sandbox AQ,

which just announced a new partnership with Anthropic this morning around quantitative computing.

And Rockefeller's Rochir Sharma with us to talk about the takeaways for global investors from President Trump's China

trip. Let's get some housing data this morning, NHB with Diana Oleg. Morning, Diana. Good morning,

Carl. Homebuilder's sentiment in the market for single family homes rose three points in May to

37 on the NHB Wells Fargo index. That's a beat. The street was looking for unchanged. Still, anything below 50

is considered negative. The index stood at 34 last May. And that's when mortgage rates were

hovering around 7%. Now, we're lower now, but not a lot lower, and rates have been rising

in the past week. The NHB cited rates, as well as rising gas prices and economic uncertainty related to the

war in Iran, which all continue to dampen buyer demand. Now, of the index's three components,

all were higher by three points. Current sales conditions to 40, buyer traffic to 25, and future

sales expectations rose three points to 45. The survey also found fewer builders cutting prices in

May, 32 percent compared with 36 percent in April. The use of sales incentives was 61 percent

in May. That is up slightly from 60 percent in April. Sarah, we seem to be seeing a little bit

of a late spring surge, according to the builders. Okay.

That's hopeful.

Thank you, Diana.

Diane Oleg.

We'll take it.

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