Market insight and analysis. You're listening to the opening bell of CNBC, Squawk on the Street. Good Wednesday morning. Welcome to Squawk on the Street. I'm Carl Cantonio and David Fabry at Post 9 of the New York Stock Exchange. Kramer's at one market in San Francisco, fresh from his exclusive with Mark Benioff in Dreamforce last night. Futures are trying to bounce after that warmer than expected CPI. Couldn't quite get that two-tenths on core.

We will settle for three-tenths. Ten-year yield briefly pops to four-three-five close to the August highs.

Our roadmap is going to begin with CPI, giving the Fed more to consider ahead of next week's rate decision.

Apple also in focus as Wall Street reacts to its launch event, including a new iPhone lineup.

And meantime, China insists it has not issued a ban on the company's flagship product.

Plus, we're going to get into all things AI from major tech CEOs meeting with lawmakers

today on Capitol Hill to what sales forces Mark Benny up told Jim about that technology.

Let's begin with CPI. Obviously, Core, a bit of a disappointment to the Bulls gym.

Gasoline is more than half of the headline, up 10. Car insurance up two and a half,

but lodging away from home down three. That's funny. I was listening to Steve Leavesman

break it down. And I totally agree with what Steve is saying, of course, because it's just empirical. There's nothing that says that gasoline and oil have necessarily trickled into the rest of the combination. We do know, it's funny, I've been talking with some of the major insurers who are using, believe it or not, artificial intelligence to get your weight, to actually get prices to where they are lower.

And I wonder whether that won't filter in as part of a larger conversation about trying to get the best price for the consumer when it comes to these gigantic car insurance and auto finance companies.

I suspect that those numbers are going to go down because of artificial intelligence.

That's not for that. That may not be two years out.

They may have to be next year.

So I'm actually more sanguine on that.

What I'm less sanguine about is we've got to see some numbers from companies go up about AI.

And we haven't seen that other than Nvidia.

And David, when we talk about AI, you know the stocks have all been up as if the numbers are going to be great.

The pressure on Adobe tomorrow is so gigantic because someone's got to be able to raise numbers on AI besides Nvidia.

Can't just be Nvidia.

But isn't it maybe it's a bit too early to do that?

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