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

Good Friday morning. Welcome to Squawk on the Street. I'm Carl Kintania with Jim Kramer here at Post 9 of the New York Stock Exchange.

Faber has the morning off. Bulls trying to build on Thursday's all-time highs, even without the help of AI, which gets some more curveballs today in the guidance from Broadcom.

FedSpeak is back. Longbond near 4'9.

That's the steepest curve now on 2's 10 since 2022.

Our roadmap begins with the AI-driven tech slide going into day three now,

as Broadcom becomes the latest company to fuel some worries.

The president signs this EO, issuing a single regulation framework for artificial intelligence

and that limits the power in the states. Watching cannabis today as well, surging in the pre-market

on some reports the president will reclassify marijuana, Tilray alone, up more than 30%.

Let's begin, though, with more weakness in the AI trade a day after the S&P's first record

close since October, Jim. Today, it is Broadcom, backlog a little light, narrowing margins,

no guidance on 26. You want to buy Broadcom maybe at the opening, maybe if it's a little bit

lower. And you do because the way that the conference call was set up, you found out

that the gross margins and one piece of business weren't as good as people thought. So therefore,

the overall projection of what they could do did not have the gross margins. People went.

It's almost as if these people don't know who Hawk tan is. Hawk saves something. Hawk always

has something in his back pocket.

This was just a very, very good quarter. Notice everyone raised price target. Almost everybody

raised estimates. Look, if it was price target down and estimates down, then you would sell

this stock down, 25 as it was. But instead, it's the opposite.

The numbers are real good.

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