It's Jim Kramer here. You're listening to the opening bell of CBC Squawk on the Street.

Don't miss a minute of the action.

Good morning and welcome to Squawk on the Street.

I'm David Faber. Along with Jim Kramer, we are live from the New York Stock Exchange.

Carl Kintanilla has the morning off.

Let's give you a look at futures, of course, as we get ready to trade a half hour from now.

You can see we are looking for a higher opening on all the major averages, at least at this point.

The 10-year note yield certainly been one of the key stories.

Certainly has been for me and for you. Look at that. Back to 1-7-55. This is something that hit

1-6. Big seller. Yesterday. Big seller. Big buyer. I mean, it's really kind of crazy. Wow.

But there we are. More or less back to where we were a couple of days ago before some of the recent volatility, of course. And we'll get to why things have calmed down a bit. Let's get to our roadmap. It does start with that pause in volatility. Stock's pointing to a higher open. And you've seen, of course, the bond yields are stabilizing. We also have a key downgrade this morning that's sending shares a caterpillar lower. This amid concerns, of course, about the trade war and the weakness it's causing in China's economy. And some earnings

bright spots. Lift. Yes, that's right, lift. And Roku, both surging ahead of the bell. We'll also

get to some other names as well. But let's begin with the markets, futures, as you saw,

pointing to a higher

open on Wall Street this following the S&P's biggest intradate comeback of the year. Global bond yields,

they are stabilizing, investors digesting better than expected trade data that came out of China

in terms of exports there. An escalation in trade tensions between the U.S. and China, of course,

has accentuated fears in recent days. Former Treasury Secretary Jack Liu weighed in on the trade war and currency

responses yesterday on the closing bell.

We're at a really dangerous moment right now where a trade war is escalating into currency responses,

and it's time for leaders on both sides to find a way to de-escalate.

Jim, it has been nothing short of an extraordinary couple of days, of course.

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