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 Kintania with Jim Kramer, David David Faber, Post 9 of the New York Stock Exchange. Equity Bulls looking for a bounce after the biggest pullback at three weeks. Powell's on the hill today. We'll reiterate the cuts are likely sometime this year, but more confidence on inflation 10-year-412.

Our roadmap begins with some Fed expectations. Futures do point to this bounce as investors

seek new rate cut clues from the chair on Capitol Hill today. Plus tech troubles. Apple is seeing

what is its worst two-day stretch since September. And if you haven't paid attention, Tesla shares,

they're down 10% this week alone. That's only two trading days. If they got, if they had gotten

AI from, oh, we have to go into that. Actually, we're going to talk about that, a war of words.

Open AI, Jim is firing back at Elon Musk. There's one percent of chance we'll talk about it.

Publishing emails, which appear to show the Tesla co-founder, actually did support creating a for-profit entity.

Let's begin with the markets and the testimony from the Fed Chair today.

Jim got some news on what he will say in terms of written words.

Yeah, no, look, I kind of one

marches off the table. I think that this is obviously one of those made off the table, but I want to get a little more expansive, and I'm getting tired of the game of what month. And instead, what I see is a man who has said, listen, we're not going to have a hard landing, we're not going to have a soft landing. We've got a good strong economy, and we're fine. It gets

weaker, we'll cut're not going to have a hard landing, we're not going to have a soft landing. We've got a good strong economy, and we're fine.

It gets weaker, we'll cut.

It's kind of a great central bank essay about what you need to do in order to be able to get out of an inflation or a period.

David, I think that he's becoming more of a, let's just say, a true statesman of how to be able to do something that almost everybody

thought he couldn't do, which is continue with good employment and not have a lot of inflation.

I felt very bullish about this.

You do.

Typically beyond that, I mean, the questioning is...

Well, okay, you want to say that...

Most of the time, not particularly helpful. Look, if you want to say it's Greenspan-like, but I think Greenspan, the difference being this man and Greenspan, is that I think Greenspan was slowly trying not to really say anything substantive. This man has a substantive viewpoint, and he'll stick with it, which allows us to have a decent background, at least when it comes to the futures, versus the last couple days, which have seen this level of topiness in tech. We haven't had a very long time. That's true. Well, we've also seen rates. Well, they've declined the last couple days. Well, I mean, yes, and that's why mortgage applications are very big. I'm glad you mentioned that.

...