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

Good Friday morning, everybody. Welcome to Squawk on the Street. I'm David Faber with Scott Wapner and Mike Santoli. We're live from post nine at the Newark Stock Exchange. Jim and Carl both have the morning off. Let's give you a look at futures as we get ready to wrap up the trading week 30 minutes from now. you can see we are headed for what appears to be a higher open.

And our roadmap this morning, well, it starts with FedSpeak that's in focus. The 10-year note yield right around 4% and the S&P 500 is aiming to snap a three-week

losing streak. As for retail and the consumer Costco posting an earnings beat but missing on revenue,

the company citing weakness in big ticket discretionary items.

Also ahead, new data indicating why Tesla shares are more popular than ever among individual investors.

All right, we're going to start with the broader markets, doubt tracking for its first positive week in five.

The two-year, that's the highest level you've seen since 2007. You can kind of get back to that year and find my memory to remember that. What happened around that? Yeah, it was, yeah, the fixed income market started to go a little. Felt like the last non-crazy year for a while. Yeah, it was as we headed into, of course, the financial crisis in 08.

But, Mike, as we head into next week, sort of what are you looking for as we end trading this week? Well, it's interesting. The bond market has been, you know, the fixation of everybody for good reason. the stock market, the S&P 500's high for this year was a month ago yesterday, right?

So February 2nd, 10-year yields closes at 3.4 on that day. Ramps right up to four. Everyone is repricing what the Fed's going to have to do. We got our 5 to 6 percent pullback in the S&P yesterday. As yields were hovering, they didn't really come in much at all. I talked to both of you guys different parts of the day saying yield looks a little stretch on the upside. There's probably going to be some buyers at some point here in treasuries, maybe get some relief.

Atlanta Fed President Boston kind of gave an excuse for that, I think, but we can debate exactly how much that matter. Well, what we have today is the stock market

kind of absorbed that yield move with that 5% decline. And yesterday, maybe coincidence, maybe not

held right around its 200-day average. So it caused some people to say, we're not breaking down.

It seemed as if you kind of took what the bond market had to throw at it for now. We're looking

at a jobs report next week. We have a ton more Fed speak. We have ISM services today. So in other words, it's very contingent as to whether, in fact, we've repriced for where the economy is. The January numbers, were they an outlier or were they the new trend? That's going to be, I think, where the suspense lies at the moment. That's part of what Waller was talking about yesterday, almost the efficacy of what they've been doing.

Are we really making progress, or was the hot data a blip?

Are we making legit progress?

Bostick, as you said, talked about 25.

Maybe that made the market feel better.

Yesterday, I thought yesterday was pretty interesting in that, you know, you had the 10-year get to about

407, and the stock market hung in there.

And it even ramped into the close as bond yields continued to rise.

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