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

Good Monday morning. Welcome to Squawk on the Street. I'm Carl Kintanao with Jim Kramer, David Faber, Post 9 of the New York Stock Exchange.

Futures lower, yields higher after that Moody's U.S. debt downcrate Friday night. Long bonds back above five as we brace for a hectic week of retailer earnings and some fed speak.

Our roadmap begins with Moody's downgrading the credit rating of the United States,

pointing to growth in government debt.

President Trump and Treasury Secretary Scott Besson,

both piling pressure on Walmart and its CEO over possible price hikes that would be related to tariffs.

What could that mean for the retail giant

and its CEO, Doug McMillan? And NVIDIA's CEO Jensen Wong speaking overnight, he unveils

plans to build a supercomputer and technology that will speed up communication between AI chips.

Let's begin with market reaction to Moody's downgraded the U.S. credit rating.

Jim Besson on Meet the Press and then HACS this morning trying to further this notion

that it shouldn't really come as a surprise to markets.

No, and we've got to go back to when there was a surprise, of course,

when we saw S&P downgrade that our debt triple A to A plus and that was we were you

we got hit pretty badly down 6.6% in August 5th and 2011 but then we had we had Fitch downgrade us

and that was not that bad that was that a down 1.38 when, and that's kind of,

I'm wondering whether that's going to be like this. And then David, what's happening that didn't

happen then was that there's an alternative. The money keeps going to these European stocks.

Yeah. And it's rather amazing because when you look at dollar-dolar denominated, you got Germany and Spain up 30 percent. In terms of their equity markets. Yeah. But it is, it's an interesting question. Even if we get downgraded, does it mean there's anywhere else to go in terms of a bond market? No. There really isn't.

No, there is.

I mean, Germany is nowhere near ours. Who has a better credit rating? I don't know. You're going to go to Switzerland. You're not going to be able to deploy a lot of capital in Swiss bonds. Yeah, but maybe you want to go to cash in our market rather than being longer in the long. And it doesn't mean, by the way, that it is not a recognition of something.

...