It's Jim Kramer here. You're listening to the opening bell of CBC Squawk on the Street. Don't miss a minute of the action.

Good Thursday morning. Welcome to Squawk on the Street. I'm Carl Kainterner with Jim Kramer, David Faber, post-9 of the New York Stock Exchange. First day of June kicks off with the debt ceiling bill that does pass the House, moves to Senate. Big diet of eco-data today. ADP runs hot, but yields mostly lower 10-year 361, lower since mid-May. Our roadmap begins with big tech, though, and Salesforce sales shares under

some pressure despite a beat, the raised guidance and this focus on AI. Also ahead, the House passes

the debt ceiling deal on a bipartisan basis.

And two Fed officials are making the case for skipping a rate hike, at least this month.

Plus worries about consumer demand.

Macy's cutting its full year forecast.

That news is weighing on that particular stock.

Let's begin with this run for Big Tech, closing out the month of May in the green. The NASDAQ did post its first three-month win streak since 2021, but we're watching Salesforce

today down on the pre-market, despite a beat for its latest quarter.

CEO Mark Beniof was on Mad with Jim last night and broke down the results.

We're focused on our restructuring, improving our productivity, our performance,

prioritizing our core innovations like AI and CRM, and delivering for our shareholders.

And Jim, as you can see from the quarter, productivity is up, profitability is up,

revenue is up, and Jim, cash flow is dramatically up as you saw these incredible cash flow

numbers. And we're also increasing our margin guidance for the year to our record annual 28%.

We couldn't be more excited. They do raise the margin guide for the year. A quarter guide pretty good

on EPS. Look, here's what's happening. He delivered on what he said to the five

activists. He was going to go for cash flow. He bought back more shares than the issue. The revenue

was good. Bottom line was good. What people didn't like was his alleged forecast for this

quarter revenue. I tried to pin him down on it. But here's what people need to know who are selling it. This morning, 15 analysts commented on Salesforce. Fifteen price boosts, not cuts,

unlike Octa, unlike CrowdStrike. That means that if you buy the stock down 16,

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