Good Wednesday morning. Welcome to another hour of squawk on the street. I'm Carl Kintana here with Courtney Reagan here at Post 9 of the New York Stock Exchange.

Sarah Eisen has the morning off. David Faber is going to join us a little bit later with a big interview. Meantime losses this morning. Dow's down about 150, backing off of yesterday's all-time highs on the NASDAQ and S&P. The oils up a buck yields creeping a little bit, still holding that level around 4, 5, 5 on the 10-year.

And we are 30 minutes into the trading session. Here are three movers that we were watching so far, Toll Brothers under pressure after the home builder missed earnings estimates. Impairments and a delay in the sale of an apartment property at one of its joint ventures were key drags on the results. You can see shares down more than 6%.

Other home builders like Pulte, Linar, D.R. Horton, KB. Home also under pressure this morning.

It looks as if KB. Home there down the worst of the bunch, down 2.4%.

Now Bumble shares also plunging and disappointing guidance. Revenue down year

over a year in the quarter. Shares now cut in half over the last year, down more than 22% at this point.

And we're keeping an eye on Apple today, the tech giant, expected to unveil an upgrade to its most affordable iPhone, the iPhone SE4.

We're going to bring you that latest news, When It Process.

Let's turn to the broader markets this morning. Stocks are in the red after those fresh record closing highs on the S&P and NASDAQ.

Our senior markets commentator, Mike Santoli, is here with the setup, Mike.

And Jim's point last hour about how we're having to get reconditioned to the pace of news like we were post-2016.

Yeah, I think that's been part of the process in the last few

weeks, is essentially to know what to extrapolate, what not to, how to perhaps kind of take a

step back and not react to anything that's not yet substantive and firm. So I think that's part of

what's been keeping the market in check in a sense. So we keep feeding off of very positive

set of initial conditions, right? The economy growing well, coming into the year. Earnings are up,

you know, as the usual, 77% of companies beating estimates and we're beating by seven percentage

points. So you've kind of justified the valuations on that level. And the market just continues to rotate around.

Whenever it looks like there's one area that's going to kind of compromise the strength of everything else,

something else offsets it.

Now, I don't know that that could last forever.

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