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 Tuesday morning, everybody. Welcome to Squawk on the Street. I'm David Faber with Jim Kramer. We're here at Post 9 at the New York Stock Exchange. Carl has the morning off. Let's give you a look at futures. We begin trading a half hour from now. Yeah. Yeah.

Mixed.

Yeah. Mixed.

All right.

Let's start with our roadmap.

It begins with holding pattern.

What is next for the Fed?

Of course, the rate cut path as investors away key results from the next batch of mega cap tech earnings.

Plus, we're going to have pharma in focus this morning. Pfizer and Merck

both lift their outlook, but the shares kind of moving in opposite directions ahead of the open.

And so far as showing strong guidance, boosting its 20-20 for outlook after second quarter earnings beat.

Think it don't matter? Hasn't matter. No idea.

We'll ask Anthony Nodo.

He'll join us later in the hour.

Let's start with the markets.

Of course, Fed begins at two-day meeting ahead of tomorrow's decision on rates. Of course, most expect that it will just remain the same setting up for September.

Did hear a little discussion yesterday?

Ooh, could it really happen? Could they go for a cut? Highly, highly unlikely, Jim. Yeah, look,

there's always an element. Imagine this. Let's say I came out right now and I said,

I think they're going to cut tomorrow. If on Thursday, I would come in, and if they had cut, you would say I was a genius.

But you'll forget that I said they're going to cut if they don't.

Right.

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