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

Don't miss a minute of the action.

Good Thursday morning. Welcome to Squawk on the Street. I'm Carl Kintania with Jim Kramer,

David Faber, Post 9 of the New York Stock Exchange. Pre-markets rallying as a federal trade court

blocks the president's reciprocal tariffs in a unanimous decision.

And Vitty is powering ahead on earnings, but futures are off the highs as Q1 GDP consumption

is revised lower from 1-8 down to 1-2.

Our roadmap begins with that federal trade court striking down Trump's worldwide reciprocal

tariffs and ordering the administration to stop collecting them.

NVIDIA's earnings beat is sparking a global chip rally, CEO Jensen Wong, speaking with Jim

last night about the fallout from China restrictions and, of course, what's ahead for this

AI chip giant.

And Elon Musk is leaving his government work at Doe, certainly in terms of it being more of a full-time

gig, saying his scheduled time has come to an end.

Let's begin with his federal trade court blocking the sweeping tariffs announced by the president in early April.

The three-judge panel ruling he did not have the authority to impose them under a decades-old emergency economic powers law.

The decision voids tariffs on dozens of countries

and the fentanyl-related levies on Canada, Mexico, and China. The court is giving the administration

10 days to implement the ruling, and the White House has already filed plans to appeal

Jim Hassett and Navarro on the tape this morning, saying, in Navarro's words, not much has changed.

It is amazing to me how if you read this, you would say, you know what?

The judiciary is secondary and subordinate to the executive branch.

...