Good Tuesday morning. Welcome to another hour of squawk on the street. I'm David Faber with Simomodi and Mike Santoli. We're live from post-line at the New York Stock Exchange. Carl and Sarah both have the morning off. Let's give you a quick look at the markets. We are up. I think that was a new record we hit on the S&P. Backed off a bit, but as you can see, still in positive territory treasuries hanging in there right at 4.5% for the tenure. We're 30 minutes into the trading session.

Here are three big movers we are watching. territory treasuries hanging in there right at 4.5% for the tenure.

We're 30 minutes into the trading session.

Here are three big movers we are watching.

A mixed morning for Chinese-related stocks after news that China's president Xi Jinping

met with a number of his country's top entrepreneurs, including Alibaba co-founder Jack Ma,

the latest from Beijing later this hour.

Plus Southwest, take a look at that stock announcing plans to cut 15% of its corporate workforce or about 1,750 jobs.

The first mass layoff in the airline's 53-year history shares down about 1.2%.

And we are keeping a very close eye on meta in the red, but coming off 20 consecutive days of gains, the longest daily winning streak for any stock in the S&P 500 since 2020.

The stock now up about 25% this year.

We have some housing data just crossing the tape.

Diana Ola has it for us. Good morning, Diana.

In February, dropped sharply down five points to 42 on the NIHB housing market index. The street was looking for a one point drop, and that is the lowest level in five months. Last February,

it was at 48. Anything below 50 is considered negative and sentiment had been

rising, but Builders cite concerns over tariffs, elevated mortgage rates and high housing costs.

Of the indexes three components, current sales conditions fell four points to 46. Sales expectations

in the next six months dropped 13 points to 46 and buyer traffic dropped three points to

29 that future sales component is the lowest since december of 2023 now nahsb's chairman

carl harris said in the release while builders hold out hope for pro development policies

particularly for regulatory reform policy uncertainty and cost factors created

a reset for 2025 expectations in the most recent HMI.

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