Market Moving Insight and Analysis join Jim Kramer, David Faber, and me, Carl Kintanilla,

on the opening bell hour of CNBC Squawk on the Street.

Good Tuesday morning. Welcome to Squawk on the Street. I'm Carl Kintanio with Jim Kramer, David

Faber, the New York Stock Exchange. Futures are steady as we're coming off three days up for the Dow and the S&P. Markets juggling a miss and a guide lower on Home Depot's comps. Along with these reports, the White House is mulling a payroll tax cut. Europe is mixed. Yields resuming their decline today, 10-year-155. Our roadmap begins with a pause in all the volatility. Got some calmer waves over futures this morning.

Plus, we got a bit of a check on the U.S. consumer this morning. We'll break down earnings from Home Depot, Coles, and TJX. And breaking up is hard to do, the chairman of the FTC, weighing in on how to separate Facebook. But down the S&P in the midst of a three-session win streak, moving closer to erasing all of their losses from Wednesday's big sell-off.

But with stock set for a modest open, The Dow in the S&P in the midst of a three-session win streak moving closer to erasing all of their losses from Wednesday's big sell-off.

But with stock set for a modest open, does this signal a pause in the volatility?

Jim, what do you think about that question?

Geez, I think that that's probably wrong.

I don't see a pause because at what point today did we start hearing about Jackson Hole and what Powell's going to say and what the president's going to charge?

I mean, we're still dealing with a kind of a rosy hangover from the weekend talk shows where people are really buying into what Larry Cudlow said.

And it's interesting, but Home Depot's comments are very much like what Larry Caldow said,

which is that things are a little better than people realize.

And there is no recession.

Business is pretty good.

So I feel like when I hear those things, what it makes me think of is that the hawks on the Fed are going to be gunning for no more rate cuts,

which obviously is not what this market wants.

But there are a hawks on there who are going to say, are we kidding ourselves?

Home Depot was saying one of the largest retailers in the country is saying things are great and we have to cut versus the president who's putting through perhaps a payroll tax cut,

which is something you do when you have a real slowdown looking for opportunities.

So you think the Home Depot miss on comps and the guy down on comps is great?

Yes, because I met with Carol Tomey, not that long ago.

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