Good Tuesday morning. Welcome to Squawk on the Street. I'm Sarah Eisen with David Faber and Wilford Frost is here all week.

We are live from post nine of the New York Stock Exchange. Carl has the morning off. Stocks are under a little bit of pressure.

Down a little more than a tenth of a percent on the S&P. Nasdaq pulls back. We're coming off of record highs, though.

The staples, materials, and health care sectors are all higher. Everybody else is weaker

today. Energy is down three quarters of a percent. Tech is under a little pressure. So a little bit of a

pullback here near very high levels. As for treasuries, we're about to get a lot of data. Manufacturing,

job openings, mixed picture. There's some selling 10 year, two year with firmer yields, but buying at the long end,

30-year yield 477. Today, Musk versus Trump, part two. The feud between the president and the

world's richest man, reigniting as the big beautiful bill makes this way through Congress. We'll bring you

the latest, track the impact on Tesla shares. Not pretty this

morning. And a number of bank stocks breaking out to new highs as we kick off the second half

of the year, including J.P. Morgan, Goldman Sachs, Morgan Stanley. We'll talk about the next

catalyst for those stocks coming this afternoon. But first, economic data just crossing the tape.

Rick Santelli has that for us. Rick.

Yes, now we're going to switch gears from Mexico's PMOs of manufacturing to ISM. And the headline

number better than expected. Expecting the number below 49, it comes in at 49. 49 equals

where we were in March of this year to find a higher number.

You'd have to go to February.

So basically, this is the highest level since February.

And if we look at prices paid, so sequentially higher also on headline.

Prices paid, we'd rather have that go down, but it is going up.

And like the headline, it's sequentially higher than the rear

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