Market moving insight and analysis.

Join Jim Kramer, David Faber, and me, Carl Kainteneer, on the opening bell hour of CNBC Squawk on the Street. Good Wednesday morning. Welcome to Squawk on the Street. I'm Carl Kintania with Jim Kramer, David Faber, and post-9 of the New York Stock Exchange. Future is still absorbing that guidance from Microsoft last night. Now, NASDAG futures are weak, yields lower two. as some of these macro slowdown worries have the tenure back to 343.

It's about one week. last night. Now, NASDAG futures a week yields lower two. As some of these macro slowdown

worries have the tenure back to 343, it's about a one week low. Our roadmap this morning begins

with Microsoft forecasting the recent slowdown will continue and suggesting the cloud growth

will stay muted. Plus Boeing shares are under a bit of pressure this morning this after the company

posted a quarterly loss.

CEO David Calhoun is going to break down the quarter with us.

That's just a few minutes away.

And targeting Google once again, the DOJ in several states, accusing the tech giant alphabet of abusing its dominance in digital advertising.

A real rock-up dollar situation there, like Exxon, Standard Oil, Teddy Roosevelt, give me a break.

We'll begin with Microsoft, though, under pressure and reaction to that guidance on cloud,

the company's slowest growth in about six years.

Satchinadella last night addressing economic uncertainty on the earnings call.

As I meet with customers

and partners, a few things are increasingly clear. Just as we saw customers accelerate their digital

spend during the pandemic, we are now seeing them optimize that spend. Also, organizations are

exercising caution given the macroeconomic uncertainty. And the next major wave of

computing is being born as we turn the world's most advanced AI models into a new computing

platform. A lot of discussion of AI, Jim, but Azure decelerates into the end of the quarter down to

about a 35% run rate. If you want to follow the arc of a conference call, this was one of the most confusing, but also negative when I've come up with it. Sadi comes up with a million things that make you want to own it. I mean, just everything. And then you give you that little negative about optimization. Optimization code word for like, we've had enough, okay?

We'll figure out what to do with what we bought.

...