Market Insight and Analysis. You're listening to the opening bell of CNBC Squawk on the Street.

Good Tuesday morning. Welcome to Squawk on the Street. I'm Sarah Eisen with Carl Kintania and David Faber. Live as always a post-9 of the New York Stock Exchange.

Take a look at stocks. We start off a new quarter in a new month in the red, not sharply,

but we are down a third of a percent on the S&P and the Dow down 280 NASDAQ getting hit as well,

but faring a little bit better for a change after an 8 percent slide in the first quarter.

Worst quarter overall for stocks in years. Take a look at treasuries and how we start off the new month. They're buying

bonds, safe haven as yields go lower. Look at the tenure. It's 4.165 and the two year below 3.9%. So

continuation of some of the trends we've seen in the first part of the year.

Getting some ISMs and Joltz right now. Let's get back to Rick Santelli. Hey, Rick.

Yes, let's start out with Joltz, shall we? Expecting a number for our Febbreed, around 7,600,000.

Comes in just a smidge lower, 7,568, 7,568,000.

7,568,000.

How does that comp?

Well, that would be the lowest rate on a month-over-month basis going back to, well,

the end of last year when it was 7,508.

So we see it's coming down, but we are really starting consolidate now. That's three

months in a row. We're right around 7.5 million. Let's look at construction spending for February,

expecting up 3 tenths, Carl, it's double plus, up 7 tenths, almost three quarters of 1%. That would be

the strongest rate going back to October of last year. And last

month, here's the problem. Minus two-tenths moves to minus half of 1% in the January read. Now,

let's look at ISM manufacturing, the PMIs, the headline number, 49.0, a little bit lower than expectations.

And it puts us back in contraction territory, which means we're going back to the end of last year,

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