It's Jim Kramer here. You're listening to the opening bell of CBC's Squawk on the Street.

Don't miss a minute of the action. Good Wednesday morning. Welcome to Squawk in the Street. I'm Carl Kinteneer with Jim Kramer and David favorite post-9 of the New York Stock Exchange. Bowles trying to take advantage of Tuesday's upside reversal. They'll get some help from consumer names like Lowe's and TJX on earnings, although targets a different story.

Ten year 4-Eleven with some Fed speak, some Fed Minutes. some help from consumer names like Lowe's and TjX on earnings, although targets a different story.

Ten year 411 with some FedSpeaks, some Fed Minutes, and a 20-year auction all on deck today.

Our roadmap, though, will begin with Invidium and the AI trade.

The streets eagerly awaiting signals from the chip giant and some indications whether these bubble fears are overblown. Plus, the crypto roller coaster, Bitcoin plummets more than 25% from its record high and is now

hovering near seven-month lows this after giving up all of the gains from this year.

And we'll have the latest read on retail and the consumer.

Target reports the 12 consecutive quarter of weak or falling sales.

TjX, well, what do you guess they did? You're right. Yeah, they raised their annual force.

It blew it out, man. Yeah, we always should.

Let's get to some breaking news this morning, though. For that, we're going to turn to our Leslie Picker,

who's in Las Vegas this morning. Hey, Leslie.

Hey, Carl, I have learned from people familiar with the matter that Blue Owl has decided to call off its private credit funds merger. This is something we've been talking about all week. You all have been talking about all week. This controversial combination of one of its non-traded funds, Blue Owl Capital Corporation 2, with its bigger publicly listed

vehicle, Blue Owl Capital Corp. News of the merger, if you recall, restricted investors from

redeeming from the semi-liquid non-traded fund, the one being acquired, until the deal was done

early next year. Additionally, investors in the non-traded fund would have

faced paper losses of about 20% based on the share prices of the larger publicly traded fund.

Now, shares of the parent company, Blue Owl, slumping 7% Monday, although it did gain a little bit yesterday.

You could see it's currently up about 5.8% right now.

In speaking with people familiar with the matter,

the boards of directors of the two funds did not see the benefits of the merger

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