Good Monday morning. Welcome to Squawk on the Street. I'm Sarah Eisen with Carl Kintania and David Faber. We are live at Post 9 of the New York Stock Exchange.

Stocks are under pressure as the markets react to the U.S. and Israeli strike on Iran over the weekend.

The S&P 500 down half a percent.

One bright spot in this market is energy because oil prices are surging.

Most everything else is lower, although information technology is holding up well.

You've got some strength in names like Palantir, no surprise, up 5 percent, sort of a defense tech play.

NVIDIA is higher though as well, and so are some of the other semiconductors.

But consumer discretionary, that's what's weak, down 2%.

Communication services and financials.

All the cyclical groups.

Treasuries also making a move.

They're buying the safe haven U.S. dollar, but selling treasuries,

potentially on this inflation trade, right,

with higher oil prices, higher inflation, the 10-year yield goes back above 4%.

We've got full coverage of the war in Iran, the impact on global markets.

Great lineup of experts coming for you.

Ian Bremmer from the Eurasia Group, former Defense Secretary Mark Esper, former Israel ambassador

to the U.S., Michael Oren.

We're going to get through all the key details that investors are looking for.

First up, though, busy day for some manufacturing surveys. Let's get back to Rick Santelli.

Hey, Rick.

Hi, Carl. Indeed. Now, these are the ISM PMIs, and these are fresh February reads on the headline manufacturing, 51.5 in the rear view mirror 52.6

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