Market moving insight and analysis.

Join Jim Kramer, David Faber, and me, Carl Kainteneo, on the opening bell hour of CNBC Squawk on the Street. Good Wednesday morning. Welcome to Squawk on the street. I'm Carl Kinteneo with Sarah Eisen, Mike Santoli, post nine of the New York Stock Exchange. Kramer and David Faber have the morning off. Futures under some pressure this morning with bond yield still flirting with these cycle highs oil

near 90 the president and Israel and the market very sensitive to headlines plenty of earnings

to get to as well our roadmap's going to begin with a big day for corporate results united

with soft guidance p and g beats higher prices there morgan stanley topping estimates netflix and

Tesla after the bell. Plus China's

outlook, Q3 economic growth coming in better than expected. JPMorgan City and Nomura all boosting

their forecasts on the data. And the Nvidia headwinds. Morgan Stanley and Citigroup

lowering price targets on the stock after new U.S. restrictions on chip sales to China. Shares down nearly 2% ahead of the open. Let's get to the markets in this busy morning on the earnings front. We're sort of graduating, Sarah, from the big banks, although we got Morgan Stanley today into some of the regionals and obviously some of the more consumer names today as well. Yeah, kind of a mixed picture across the board. front and center is still this move in bond yields that we've been seeing, especially on the back of yesterday's move higher.

I mean, the two-year yield got to 5.2 percent. Above 520. So these are very high levels. And it also makes you wonder with everything going on in the world and with investors so focused, I think, on the geopolitics and figuring out, does Iran enter

the fray? There's more saber rattling overnight. We see that in the price of oil. Are treasuries

acting like a safe haven? No. They're not. They were last week a little bit, but they really haven't

been. And does that mean, say something about treasuries and the relative safety, because we are

seeing things like gold and the Swiss franc and the Japanese yen all move up? Or is it just that investors are sort of hoping that this doesn't escalate any further and that we have a more diplomatic solution? I'm not sure. It doesn't look like that from the side. There is one school of thought that says, well, you don't know how high yields would be without a safe haven bit, but there's no way to prove or disprove that. The way I would look at it is if you look also through

history, when you do have these sort of shocks, geopolitical or otherwise, the bid in treasuries historically

is not a particularly durable one. So you get this kind of reflex, buying of bonds, yields go down,

maybe it's over a couple, three weeks.

It's not usually a new trend.

That said, whatever's happening, if there is a flow through to markets, it seems like it's

on the oil supply front or generally inflationary, reflationary around the world as opposed

to the opposite.

But I think the market is also trying to do its best to look through what it can look through. So it's this really indecisive range.

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