Good Thursday morning. Welcome to Squawk on the Street. I'm Sarah Eisen with Carl

Kintanian and David Faber live, as always from post nine of the New York Stock Exchange.

Stocks are still in a celebratory mood after that court ruling struck down the reciprocal tariffs by President

Trump. Not quite as high though as it looked, say in the overnight futures. The S&P right now

up six-tenths of a percent. The Dow's up set about 79 points. NASDAQ up 163, about eight-tenths

of a percent. You do have tech out performance. Take a look at treasuries right now as well. Remember you had firmer yields yesterday. I've got some mixed data today, which we'll digest in a moment, but there's buying. We saw that overnight. That continues through the session with lower yields, which is perhaps comforting equities as well. 444 on the 10-year. Do have another auction this afternoon of seven-year.

Coming up, Wharton Professor Jeremy Siegel, his take on the tariff ruling, what it means

for the market for growth, plus how tomorrow's key inflation report could shape the Fed strategy.

And happening this hour, Boeing CEO, updating his turnaround strategy at a conference,

will bring you all the headlines as soon as they happen.

The stock's up a little more than 1%.

Little housing data on deck with pending homes. Let's get to Diana Oleg this morning. Hey, Diana.

Hey, Carl, yes, pending home sales fell a much wider than expected 6.3% in April from March.

The street was looking for flat, sales down 2.5% from April of last year. I don't know why the street was looking for flat because this isn't surprising when you consider that this count is based on signed contracts on existing homes during the month. That is, people out shopping when the stock market was on a roller coaster because of the tariff announcements, which all caused the average rate on the 30-year

fixed to jump to well over 7 percent from a low of 6.6 percent at the start of the month.

Now, regionally, sales fell across the nation, but hardest in the south and west.

The south saw prices overheat the most since the start of the pandemic, and the west was

always the priciest region.

The south is now

seeing prices come down in some spots but even sales in the midwest were also down a lot

despite it being a more affordable region that's likely because there's less supply there

due to recent higher demand now inventory levels nationwide are hitting a five-year high but

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