Market moving insight and analysis join Jim Kramer, David Faber, and me, Carl Cantonea on the opening bell hour of CNBC Squawk on the Street.

Good Wednesday morning. Welcome to another hour of squawk on the street. I'm Sarah Eisen with Carl Cantania, David Faber, live as always, from post nine of the New York Stock Exchange. Stocks are under a little bit of

pressure here. You do have some sectors that are green like health care, catch-up, financials,

utilities, technology, real estate, but overall index down. Communication services at the bottom

of the list. That's because of the sell-off in alphabet,

which right now is down about 8%. Match group also taking it hard. Some of the media names are a little

bit weaker. So it's kind of a mixed bag. Earnings front and center. Take a look at treasuries.

We have had some data. ADP private sector will go over that but there's continuing to be a bid

here in bonds the 10 year yield now at 4 4 2 we were at 4 5 yesterday so moving

south the two year yield just below 4 2 we are 30 minutes here into the trading

session here's the movers we're watching alphabet and Apple weighing on the

markets for different reasons reports that China may be targeting Apple's app store practices. That's hurting Apple.

And Alphabet down on fears about its CapEx guidance, how much it's spending. More on those

stock movers coming up. We're also keeping our close eye on semis. AMD's data center revenue

missing estimates, Qualcomm and Arm reporting after the bell later,

but NVIDIA is higher and so is Broadcom.

Mattel's shares are soaring after beating estimates.

The toy maker saying it expects Barbie's performance to improve this year.

Big reaction there, up 17%.

Got some data today.

A little bit more headed our way right now.

Let's get to Rick Santelli.

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