Market moving insight and analysis join Jim Kramer, David Faber, and me, Carl Kaintena, on the opening bell hour of CNBC Squawk on the Street.

Good Wednesday morning. Welcome to Squawk on the Street. I'm Carl Kaintena with Jim Kramer, David Faber, post nine of the New York Stock Exchange. final day of the month and we'll watch for some month-end rebalancing futures in the red

China data was quite weak.

We are expecting a debt-sealing vote tonight.

Republican leaders say it's likely to pass.

Our roadmap begins with stocks, though,

eyeing a lower open on this last trading day of May

as we await some progress on the debt deal.

Plus AI-mania helping to drive what has been a strong month

for certainly a big cap tech.

The latest read on that sector will also talk about results from HP and HPE.

We're also watching China stocks there entering a bare market.

Jamie Diamond calls for increased Washington-Beijing engagement.

Let's start with the markets, though, on this final trading day of the month.

China kind of threw things for a loop here.

China's such a bummer.

I mean, I'm beginning to think they won't use the term recession because it's just not allowed to.

The communists probably don't like the word.

But, I mean, we're talking about every article, severe slowdown contraction. They love that word contraction.

David, the Chinese economy is like a battleship with the propellers shot. Just circling.

It's not moving forward. Exactly. Exactly. Right.

It's like, yeah. Yeah. Yeah. Yeah. A relationship has to keep move. It's like a shark. It's like either moves forward or it dies. And I think what we have here is a dead shock.

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