Good Wednesday morning and welcome to Squawk on the Street. I'm Sarah Eisen.

Joining today live from Washington, D.C. The Treasury Department is hosting a Trump Accounts Summit

in Washington, where the president is slated to speak later this morning, along with Carl

Kintanilla and David Faber, as always, from the New York Stock Exchange. We've got a great

lineup of interviews for you from Washington, including an extended interview with Treasury Secretary Scott Besson in just a moment. And later in the hour, Altimeter Capital founder and CEO Brad Bursner will join me live from the summit. He came up with the idea of the Trump accounts. On halftime report, I'll speak to the CEO of Robin Hood, Glad Teneb, and

on the exchange, Frank Visignano, who runs the IRS and is also the commissioner of the Social

Security Administration. Plus, we're all over the market moves with earnings from Starbucks,

ASML, and AT&T this morning.

Let's talk more about the market action today with the S&P hitting 7K for the first time ever.

Our Mike Santoli is here at Post 9 watching what's moving internally.

Interesting, yields pretty sticky here.

Market doesn't seem to mind too much.

No, the volatility in the core of the equity market and in treasuries has been incredibly subdued,

especially when you consider what's going on in currencies.

The 7,000 tag this morning is interesting, largely in that it comes three months to the day

after we first got above 6,900 intraday. So that final 100 points has been just this sort of churning

sideways thing. And what did it take to get us to that point and get us to the closing record yesterday? Basically, you get the biggest guys on the field for the tush push. And that's literally what happened. Because before that, it was, oh, it's a broadening market. The small caps are doing the work. The banks are participating. You have transports doing it. But until the mag seven reengaged, you couldn't quite get the oomph behind it.

So I do think it's still worth keeping my what is kind of gathering a lot of the aggressive flows,

obviously aside from gold, but the gold silver memory chip, the memory chip side of semis,

all of it is about literal physical scarcity.

The only thing the market has a ton of conviction on right here is we have price insensitive

buyers that just need to get stuff right now, whether it is gold, silver, or it's the memory

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