Market Insight and Analysis. You're listening to the opening bell of CNBC, Squawk on the Street.

Good Monday morning. Welcome to Squawk on the Street. I'm Carl Kingtonia with Jim Kramer, David Fabry,

post-9 of the New York Stock Exchange. S&P futures struggling to erase some losses here as the

cost speed drops nearly 9%

overnight, and we brace for a packed week of bank earnings, Warsh on the Hill, CPI, two-year

yield near an 18-month high. Brent closing in on 80 as the U.S. and Iran trade fire and offer

conflicting views about whether the straight-or moves is in fact open. Our roadmap begins, though, with S.K. Heinex, worst trading day ever in South Korea. What that means for the AI trade? Also ahead, Sam Malman and Elon Musk. They're battling it out on social media. This after Apple sued OpenAI, alleging that Open AI stole Apple's trade secrets.

Plus, that U.S. Iran conflict, high oil prices, Carl just mentioned it, putting Fed Chair

Warsh in the spotlight. This is ahead of his Capitol Hill testimony. First time he'll be

doing that, starting tomorrow. Let's begin, though, with S.K. Hynex, and its record-setting

decline in South Korean trading

overnight, carrying over into the pre-market after the strong U.S. debut on Friday.

Jim, you've been monitoring this closely, writing about it?

Look, I still think that the pricing on Friday for the so-called underwriting in the U.S.

seemed a little bit peculiar. I do think that the run

seemed like a gift to Americans. The decline is not really related to the price of DRAMs,

which is typically what it would be linked to. David, the run in these stocks is remarkable on the

upside, but it's now bare market on the downside. I don't

want to say it's artificial. I would say that their market seems to lack true pricing

discovery, and that it seems, I'm not saying it's fixed. I do think that there is a mob that

buys it, a mob that sells it. Talk about the stock? Yes, unlike any other in the world. Yeah, that may well be true. But I guess going back to the fundamentals and the reason why the stock has had the run it is. And by the way, its debut here on Friday was nothing short of very strong. It was. And that's what concerns me. You were going and expecting it not to be. Well, because... And it ended up being a very strong day. Now, obviously, a big reversal today based on South Korea. What happened is where I thought it would be, which is up a couple of bucks. Right. Right. But the fundamentals, Jim, continue to not be questioned in terms of the underlying demand for what they make.

Look, I think it's the secular versus, you know, versus the cyclical discussion.

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