Good Friday morning again. Welcome to Squawk on the Street. I'm Sarah Eisen with Michael Santoli.

We are live from Post 9, as always, of the New York Stock Exchange. David and Carl are out today.

Markets under pressure again in early trading here. Coming up on today's show, we've got Bank of America's head of commodities with us as Brent crude tops $110 a barrel.

Talk about just how high these prices could go.

Plus, do surging gas prices tied to the war make EVs actually more attractive?

We're going to ask former Tesla president and current GM board member, John McNeil,

and our predictions market rife with insider trading.

We've got new details on reports showing coordinating trading activity around

major events, including the U.S. strikes on Iran. First up, though, markets are under pressure

here in early trading. We've got the S&P down almost a percent, and the NASDAQ down one and a quarter

percent. Staples and energy are looking best right now.

Back to August levels, roughly speaking, late August in the S&P 500. We do have some breaking economic data, though. Rick Santelli has it for us. Hey, Rick. Yes, thank you, Mike. This is University of Michigan March final read. Now, let's put an asterisk here. On the original mid-month read, it most likely was survey period from about mid-February

to around March 9th.

And the final period doesn't really extend the date.

It kind of fine-tunes it.

So we probably caught about nine or ten days of the conflict, which started on February

28th.

And on the mid-month reads, they pretty much said the organization that a lot of the

readings already reflected some downgrades in terms of the levels because of what was

already incorporated with the conflict.

Having said that, there's a bit more deterioration.

Our mid-month read on the headline was 55.5. It now moves to 53.3. That would be the lowest

...