Market Moving Insight and Analysis. Join Jim Kramer, David Faber, and me, Carl Cantonia, on the opening bell hour of CNBC Squawk on the Street. Good Friday morning, everybody. Welcome to a final show of the week for Squawk on the Street. I'm David Fabor with Sarah Eisen and Mike Santoli. We are live for post-9 at the New York Stock Exchange. Jim and Carl both have the morning off.

Let's give you a look at futures, of course.

As I said, as we get to the final trading day, 30 minutes from now is when we begin.

It looks like we're going to have a lower open.

Our roadmap this morning does start as it has all week with the banks.

First Republic getting that $30 billion deposit lifeline.

SBB Financial files for Chapter 11 bankruptcy.

Plus, Treasury helping organize the First Republic deal in a meeting with Jamie Diamond,

JP Morgan CEO, Jamie Diamond.

We're going to discuss with the Deputy Treasury Secretary Wally Adiemo.

Also, take a look at shares of FedEx surging ahead of the open.

The company hiking its 2023 earnings forecast, boosted by ongoing cost-cutting efforts.

All right, we're going to start with, well, the biggest U.S. banks moving to rescue First Republic, of course.

The story we brought to yesterday, it's $30 billion in deposits.

A somewhat unusual plan in the sense of, of course,

it's not about providing more capital to the bank, which it may well need. It's not about

buying the bank or its bonds or anything else. It's simply about putting more money in

in order to essentially create more confidence. And of course,

many saying, Sarah, this is simply deposits that in fact fled from the likes of SVB or First

Republic or some other regional banks went to the biggest banks and now we're finding their way

back. But a significant sort of voter confidence from those banks and a nice reflection at least of the

willingness to cooperate to try to put First Republic on firmer ground. We're going to get to the

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