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

Good Wednesday morning and welcome to Squawk on the Street. I'm David Faber with Sarah Eisen and Mike Santoli.

We're live from Postline at the New York Stockers, Jim. Carl's on assignment. Jim has the morning off.

Let's give you a look at futures. We get started with trading on what we like to call hump day.

You can see we're a slightly lower open perhaps when we get started with trading on what we like to call hump day. You can see we're a slightly lower open perhaps when we get started, but we'll see what happens in the next half hour. Speaking of which,

let's get to our roadmap. It does begin with records. Both the S&P and the Dow are coming off

closing highs, but of course, does the rally have room to run?

Plus, Apple shares under pressure ahead of the open amidst potential new signs of weak iPhone 16 demand.

And we're also watching auto stocks moving lower.

One widely watched analyst downgrading GM and Ford due to China capacity concerns.

Let's start with the markets after another record setting day.

Sarah just mentioned China capacity.

Mike, I guess I'll come to you because China has had an impact yesterday overall, to a certain extent it would seem.

We did get at a 30 basis point cut as well.

Another one.

From the Chinese, although that market not necessarily responding as positively as it did.

I don't know where you want to go this morning as you sort of paint a roadmap for the market.

It was kind of interesting, a little bit of a jolt to the global growth story.

They kind of executed the typical playbook, right?

Copper goes up, base metals go up.

But I also do think that it is a little bit of a boost to this story in the U.S.

of trying to figure out in the week since the Fed decision

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