Market Insight and Analysis.

You're listening to the opening bell of CNBC Squawk on the Street.

And congratulations to Squack Box on their new set.

Good morning.

Welcome to Squack on the Street.

I'm Scott Wapner with Jim Kramer live from the New York Stock Exchange.

Carl is on assignment.

He's going to be back later this morning for Squawk Alley.

David Faber is at Warner Brothers Studio in Burbank, California. We'll have an exclusive. He will with the Warner Media CEO, John Stanky.

Looking forward to that, he's going to discuss the new HBO Max streaming service.

Let's take a look at futures this morning. Some economic data better

than expected today. That's the picture on Fed Day. Dow would open higher by almost 34 S&P by

about two and a half NASDAQ by 17. Our roadmap this morning starts with right there. The

futures pointing to a higher open after that's stronger than forecast economic data., investors, though, staying cautious ahead of the Fed, record highs within striking distance again.

Plus, shares of General Electric popping after an earnings beat, the company raising its 2019 cash flow forecast, and streaming wars, AT&T, set to challenge Netflix, Apple, and Disney,

unveiling details for its upcoming HBO Max service.

As we said, David talks exclusively with WarnerMedia CEO John Stanky, and that's coming up in the next hour.

As we said, we're looking forward to that big interview.

We begin first, though, with the markets. The Fed, it is Fed Day, Jim. The data was better than expected this morning.

Still confirms we're slowing. So the Fed's going to be cutting, right? The Fed raised too much.

It is just a fact. Jay Powell overdid it. The economy couldn't take it. There are a lot of people who come on air and say it didn't matter.

If you look at the mortgage purchase numbers this point, it does matter.

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