Market insight and analysis. You're listening to the opening bell of CNBC, Squawk on the Street.

Good Friday morning. Welcome to Squawk on the Street. I'm Sarah Eisen with Carl Kintania and David Faber.

We are live from Post 9 of the New York Stock Exchange. We are getting ready for what could be a big hour of breaking news as we wait to see whether the Supreme Court will issue a ruling on the president's tariffs.

We'll bring it to you any news as soon as we get it.

We also have some big names ready to weigh in on this morning's jobs report, including Mohamed Al-Alerian, Chief Economic Advisor at Allianz, is here.

Plus, Goldman Sachsian Hatziusus with his first take on the numbers,

what it means for the Fed policy moving forward. Let's get to Amid Javers, talk about this

possible decision on the legality of the president's tariffs. Morning, Amen. Yeah, good morning

to you, Carl. We are on high alert here in Washington, waiting to see whether the Supreme Court

will issue that decision today.

They're under a lot of pressure to get this done because, of course, companies are paying the tariffs in real time,

and companies want some clarity of whether those tariffs are, in fact, legal for the administration to collect.

To put this in perspective for you, Carl, take a look at sort of what's at stake here.

The overall

tariff revenue that was collected in 2025 and 2026 so far this year. And then what the subset

is from the so-called AEPA tariffs, which are at stake here in the Supreme Court, total

tariff revenue collected, $251 billion. The IEPA specific tariffs, $133 billion.

That's the part that's at risk here because the question in the Supreme Court is whether

the International Emergency Atomic Economic Powers Act actually has the authority in it to collect

tariffs. That's the law that the president used to justify his tariffs, and that's what's at issue

in the Supreme Court today.

So if those tariffs are struck down by the court today, the expectation is all this could

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