It's Jim Kramer here.

You're listening to the opening bell of CNBC squawk on the street.

Don't miss a minute of the action.

Good Monday morning and welcome to Squawk on the Street.

I'm David Faber.

That's Jim Kramer.

We are live from Post 9 at the New York Stock Exchange on this Monday morning.

Carl has that morning or this morning off.

Let's give you a look at stock futures, of course, as you well know, having watched

Quokbox, they are surging and oil prices are down.

This after President Trump said he is postponing U.S. attacks on Iranian energy infrastructure,

and you can see what's happening there.

Let's start with this morning's truth's social post from the president,

saying he has instructed the Defense Department to, quote,

postpone any and all military strikes against Iranian power plants

and energy infrastructure for a five-day period,

depending on how talks progress between the

U.S. and Iran.

The president says both sides have had, quote, very good and productive conversations regarding

a complete and total resolution of our hostilities in the Middle East.

Now, in response, Iran's state media said the president has backed down on targeting the country's power plants amid threats from Tehran.

And perhaps even more importantly, they say there had been no direct or indirect communications with the U.S.

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