Good Monday morning. Welcome to Squawk on the Street. I'm Sarah Eisen with Carl Cantania

and David Faber, live as always, from Post 9 of the New York Stock Exchange. We're starting

the week strong again here. The S&P 500 now at the highs of the morning. And every sector's

higher except for energy, which may be a little counterintuitive, but crude

oil giving back a lot of the gains that we saw on Friday despite escalation in terms of

U.S., or excuse me, Iran-Israel conflict.

As for the best performing sector today, that would be technology now up one and a half percent.

Financials are coming back strong. Communication services, too. As far as the big tech winners, you're seeing a lot of gains. AMD, Palantiers at the top of the list today. Some of the

other chip stocks also working well. Treasuries are selling off higher yields today. Get an auction

of 20 year later in the day.

The 10-year yield, actually we've just reversed 4.4%.

So a little bit of a bid just in the last few moments or so.

Today, Rockefeller's Rochir Sharman, how global markets are reacting to Israel-Iran,

as G7 leaders gather in Canada this morning where the Middle East is sure to be front and center.

Plus, shares of biotech companies to Repta Therapeutics losing half their value almost this morning. We're going to tell you what's driving this decline. First off, though, guys, big event of the week is going to be the Fed meeting. We do have a holiday shortened week. Thursday, the market is closed. And we get some important economic data before then. Tomorrow we'll get retail sales, also import prices, which are in focus because of the tariffs.

But the big E is the Fed decision.

And then later on Friday, Philly Fed and leading indicators, we got an Empire Fed, New York regional manufacturing number that was pretty ugly this morning.

But that's a very volatile series, and the outlook wasn't as bad.

So let's talk about the Fed because nobody expects any change in policy this week, but everyone wants to know how Fed Chair Powell is going to frame the recent data and what the

dots are going to look like.

This is one of those exciting Fed meetings where we get the dot plot, which is the estimates

for where the individual

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