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 Monday morning and welcome to Squawk on the Street. I'm David Faber. I'm live from the New York Stock Exchange. Jim Kramer, it's a little bit earlier for him because he's in Los Angeles. Thankfully, the man never sleeps. Carl's on assignment.

Let's give you a quick look at futures before we get started here. Of course, you can see, you know, let's call it them. I don't know. I'll leave it to Jim to figure out what that tells us, if anything. Let's get to our roadmap this morning, though, as well. It starts with D.C.'s debt drama. the potential market course affects investors awaiting tea leaves from today's meeting between

Biden and with DC's debt drama. The potential market, of course, affects investors awaiting tea leaves

from today's meeting between Biden and McCarthy. Plus, we're keeping a close on.

Mega cap tech stocks. They're trading at multi-year highs. Apple shares, though, are down a bit this

after a downgrade from Loop Capital. Andd's e v push boosting its lithium supply

and ramping production to meet its two million vehicle target that's by two thousand

twenty six all right on this monday morning before we get started with trading 29 minutes from

now let's start with the markets the s and p and the NASDAQ are coming off what was the best weeks.

Either of them has had since late March.

And Jim, I will come to you to sort of ask, what do you expect as this week unfolds,

particularly, of course, in light of these ongoing discussions around the debt ceiling.

I think that's really going to be it,

David. We're going to go up and down depending upon what Speaker McCarthy says. I don't think the

president can be as vocal as Speaker McCarthy under more pressure to be able to not make a deal.

Otherwise, I mean, it's lightweight for earnings. We're still trying to digest the fact that

we've seen the consumer prep slip. We're speaking a lot. I'm speaking a lot of people who just say the consumer kind of went on strike during the month of April, and the strikes continuing May. And a lot of that has to do with the fact that people are kind of nervous, cautious about indeed the debt ceiling. So look, not a great time, David. I'm surprised that the market went up last week, but it was led by those mega caps that you talked about.

And they seem to be somewhat immune. They don't need debt. They're just strong. Yeah, they are. And I want to come back to that. But let's talk a little more about the consumer. We spent a good amount of time on it last week, Jim, because we did get various earnings from some of the big retailers. They were not great.

Whether, now I know you had a, the big retailers. They were not great.

Now, I know you had more positive than not reaction, perhaps given the market's reaction to the likes of Home Depot or even Target.

But the consumer, I want to drill down a bit more on what you're hearing there, what your

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