Market moving insight and analysis join Jim Kramer, David Faber, me, Carl Cantonia, on the opening bell hour of CNBC Squawk on the Street.

Good Monday morning. Welcome to another hour of Squawk on the Street. I'm Carl Cantonia along Scott Wapner and Leslie Picker here at post night of the New York Stock Exchange. David and Sarah have the morning off. Market weighing more tariff headlines.

They continued solid earnings cycle and a fairly subdued yields this morning with the 10 years

still south of four and a half. Energy's carrying some water. Oil is up a full dollar, but tech is also up

1%. We're 30 minutes into the trading

session. Here's the movers we are watching at this hour. Stealing aluminum-related stocks jumping

on fresh tariff talk from President Trump. The details and the fallout in a moment. And shares

of T-Mobile are rallying. The company saying it started wide-scale testing of its satellite to

sell service powered by SpaceX's Starlink.

Those shares up about 2.4% right now.

And we're keeping an eye on meta shares.

The company expected to begin job cuts as soon as today and coming off 15 straight days of gains.

Currently up about a quarter of a percent.

We'll see if they can hold on.

More on this story ahead.

Meantime, as far as markets go, tariff headlines do dominate the weekend as investors work through an increasingly murky outlook for inflation and rates ahead.

Morgan Stanley writing, they now expect just one cut from the Fed this year. Our senior markets commentator Michael Santoli is here to break things down.

I think B of A also said the window for cuts is basically shut, in their words.

For the foreseeable. And that's one of the things the market is, I think, contending with in this stuck period,

where we've basically been in this narrow range. The S&P 500 has traded plus or minus 3% since the November 6th closed. That's it. It's all you've gotten one way or the other. If you look at things like the equal-weighted S&P, if you look at the industrials, you look at the small caps, it's completely unwound, whatever expected kind of growth acceleration impulse you might have gotten policy-wise, but the market's held in there,

because it's okay if the Fed's on hold, if the here and now economy is all right. No real alarm

evident in credit markets in the volatility trade, any of that's not showing any stress,

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