It's Jim Kramer here. You're listening to the opening bell of CBC's Squawk on the Street.

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Good Tuesday morning. Welcome to Squawk on the Street. I'm Carl Kingtonia with Jim Kramer, David Faber, and post-9 of the New York Stock Exchange. Pre-market's a little soggy as some of the bank earnings underwhelm. Retail sales come in a bit light on headline up two-tenths.

The Dow industrials are riding a six-session win streak.

A roadmap begins with the bang. Retail sales come in a bit light on headline up two-tenths. The Dow, industrials are riding a six-session win streak.

A roadmap begins with the banks. B of A and Morgan Stanley top estimates, but PNC shares are under some pressure as revenue misses.

Plus, we'll talk the macro economic picture. Retail sales not to third straight month of gains.

Goldman Sachs lowering its recession forecast,

and as for stocks, well, they continue to be near those 15-month highs. We're also looking

for perhaps size of a rebound in the Telecom Group after just what has been a significant

loss of market cap in the last couple of trading sessions. Let's start with the bank earnings led by B of A and Morgan Stanley, Jim.

The Morgan Stanley story, we'll hear from Gorman in the next hour with Leslie Picker,

but this balance between wealth management revenue trying to make up for deal shortfalls?

Well, I think it does.

I mean, you've got something, look, you have $100 billion new net money.

That just beats everyone by a mile.

I think it's fantastic.

There is 200 billion, it's six months.

It's really incredible.

Now, the fact that's trading slow, M&A is soft, and we expect that.

We hope that that changed.

Com costs were high, but it was because they took a severance.

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