Good Monday morning. Welcome to another hour of squawk on the street. I'm Sarah Eisen with Carl Kintania and David Faber, live as always from post nine of the New York Stock Exchange.

Stock's kicking off December with a mixed picture. S&P is up a little bit. That's because consumer discretionary technology and communication services are the sectors that are propelling it higher. That's why the NASDAQ is starting strong up three quarters of

1% and why the Dow is lagging because most of your cyclical groups are actually under pressure

today. We're talking about energy, industrials, financials, staples, healthcare, all those sectors

are a little bit lower. Tech outperforms to start it off. As you can see, Super Micro is a part

of that story. A lot of the chip stocks, Tesla's higher today. Lulu Lemons higher ahead of earnings. Intel's higher. After the transition of the CEO announcement, we'll talk a lot about that. But that's why you have such a mixed picture today. As for treasuries. Let's show you how they're kicking off the week. There's been a lot of buying in treasuries lately. That reverses some selling today with yields a little bit higher. The 10-year yield 4.23 percent. Two-year yield, 4.2 after we got on Friday to the lowest level on the 10-year since before the election. We're 30 minutes here into the trading session. Here are three big movers we're watching. Mentioned Intel, CEO, officially out. Chairs are rallying. We're going to get the street's reaction to the news and discuss what comes next for the struggling chipmaker in just a few minutes. Retail front and center after sales estimates from Adobe MasterCard, Shopify, and more come in. All positive for the holiday shopping weekend. And today,

a big day for online shopping. We're going to take a look at what is at stake. And then long-time

Tesla bear Roth Capital finally upgrades the stock to buy. We're going to speak with the analysts

behind the call in just a moment. Meanwhile, Stiefel raises its price target on Tesla by more than

$100 to $411 per share. A lot of capitulation today on that one.

Let's get some ISMs and construction spending with Rick Santelli. Hey Rick. Hi, Carl, indeed.

Construction spending for the month of October, expected to be up a couple of a tenths of a

percent is coming in double expectations, up four tenths of a percent,

and that follows at least right now in unrevised up one-tenth last month.

This makes this number the best month-over-month positive change going to April of this year.

Now, ISM, manufacturing for the month of November, 48.4. Interesting number. It is better than

anticipated, sequentially higher, the best since June, but still the eighth consecutive number

under 50. If we look at prices paid, it is over 50 at 50.3. It is much lower than expectations, which in prices paid is a good thing.

50.3 is the lightest level? Well, just going back to September when it was 48.3, and that's quite important,

is that we've seen some lower numbers, but it is still moving in the right direction with respect to where it was

last month at 54.8 new orders 50.4 50.4 that now breaks the seven consecutive

readings under 50 obviously being over 50 50. 50.4 is the best read going back to

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