Good Tuesday morning. Welcome to Squawk on the Street. I'm Carl Kentoneo,

with Simo Modi here at Post 9 of the New York Stock Exchange. Sarah is on assignment today.

This morning, shares of HPE are surging on pace for their best day ever after the company posted

its biggest earnings beat since 2018. We're going to break down the

quarter in the outlook with CEO Antonio Neri. Plus, Generac joining the data center circus,

shares rallying as the company reaches a backup power deal with an AI hyperscaler. We're joined

by the CEO, Aaron Jadfield, and we'll also get a read on the state of the consumer and the travel

industry with the CEO of

IHG hotels and resorts. As for markets, a little bit of session highs here, back above 7600 on the

S&P. Dow's up 71 is also a raise some losses. Sector-wise, things that are working, utilities up 1%

industrials and materials also up 1%. VIX is still around 16.

Yields have come back a bit, even though we've got a pretty good jolts number for April.

Let's begin with the markets.

Our senior markets commentator, Mike Santoli, joins us on sort of the burden of proof as to whether this market deserves some of the valuations it's getting.

And sort of how extreme are the extremes that we're observing in terms of the AI theme,

what it means for index level valuations, and all the comparisons to the tech bubble in 99 of 2000.

So I think on one level, the burden of proof is on those people who insist we are in a rerun of the bubble

peak in 2000, because we have to keep in mind what that actually meant. That meant the S&P went on

to be cut in half in two and a half years. The NASDAQ went down 75%. It was a lost decade for

stocks. The indexes were flat to down over the next decade in real terms much worse uh... you said devastation in you know equity land and i don't think that

most people say hey it's just like nineteen ninety nine two thousand actually

believe that

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