Good Wednesday morning. Welcome to another hour of squawk on the street. I'm Sarah Eisen with Carl Kintanilla and David Faber. Live, as always, a post-9 of the New York Stock Exchange.

Stocks this morning higher across the board. They've been pretty stable since the opened up about 6 tenths of a percent on the S&P 500.

NASDAQ is leading. Tech is in charge again, 1.3 percent gain right now, so really bouncing back today. The Dow,

a little bit under pressure, down 57 points. One reason why rally in treasuries take a look at the

bond market right now. We do have a big auction later today, and we got the CPI report this

morning, which we'll talk about. But the rally means lower yields. Market likes it. 4.2% on the 10-year, 4.1% on the two-year.

We are 30 minutes here into the trading session.

Here are some movers we're watching.

Shares of Apple hitting new all-time highs, the tech giant,

releasing new software, which includes a long-awaited chat GPT integration with Siri,

and also reports that it's working with Broadcom to develop its first

server chip designed for AI. We're also watching shares of Kroger and Albertsons. So Albertsons this

morning terminating the merger after a judge sided with the FTC to block the deal, much more on the

fallout and what comes next with both stocks higher later in the show. And then shares of Hershey and Mondalese go in opposite directions as deal chatter continues to swirl around these two names. We'll have more on that coming up after Mondalese makes a decision with its use of cash that's sending its shares higher and Hershey lower. But first, guys, let's talk

about CPI. That's the story of the day. Inflation, there's good news and there's bad news in the

CPI report. Overall, the headline number comes in in line. And the market's taking that as good

news. No big surprises. Here's the 0.3% jump that we saw in November. It was higher than the month before,

but importantly, it was also consensus. So again, no surprise on that. Now, the bad news is the

year-over-year number accelerates 2.7% inflation from 2.6% inflation. Also bad news. Core CPI, stripping out food and energy prices, 0.3%.

Okay, that was in line with forecast, but

look at the trend here.

Four months in a row where we're seeing 0.3% jumps in core CPI.

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