Market Moving Insight and Analysis joined Jim Kramer, David Faber and me, Carl Cantonea, on the opening bell hour of CNBC Squawk on the Street.

Good Tuesday morning, welcome to Squawk on the Street. I'm Carl Cantonea with Sarah Eisen, Mike Santoli at post-9 of the New York Stock Exchange. Kramer in favor of the morning off.

30 record highs for the S&P so far this year. Future is pretty steady as retail sales come in soft

with some negative revisions. 10-year drops to 424. Markets, of course, are closed tomorrow for

Juneteenth holiday. We're up against with the markets record run. The S&P and the NASDAQ

aiming to set some fresh all-time highs. On that note, Apple and Microsoft helping to fuel the

tech rally as they continue to

battle for the title of most valuable company in the U.S. And the consumer is also in focus.

Retail sales for May coming in below forecasts, including a surprise drop when you strip out

autos. We'll discuss it. Let's begin with the markets and this morning's a retail sales date out.

Interesting X auto down to 10th and some of these revisions took us lower.

I think AP frames it as consumers barely spent during the month.

We knew the consumer was under pressure and we got confirmation in today's retail sales report.

Interestingly, there was some more optimism going into today because of the dip that we had in April.

And it turns out April got revised lower to a negative 0.2 from 0% growth in retail sales.

The headline number today, 0.1% retail sales.

So it was disappointing.

The key control series, which goes into GDP, takes out autos and gas and building materials and food services.

It was 0.4% month over month, which also came in a bit light.

So Mike, I'm not sure it necessarily changes the narrative,

but it fuels the idea that it's been a mixed picture for consumer spending.

If you go beneath the headline, there was still strength in places like online sales, which have been performing really well.

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