Market Moving Insight and Analysis. Join Jim Kramer, David Faber, and me, Carl Kaintena, on the opening bell hour of CNBC Squawk on the Street. Good Wednesday morning, welcome to Squawk on the Street. I'm Carl Kaintena with Jim Kramer, David Faber, post 9 of the New York Stock Exchange. How much can the Bulls get back after the worst day for the Dow in almost a year? Worse for the Russell and almost two. Yields are lower today. Ten years

still above four three though in Cisco earnings tonight. Our roadmap begins with stocks seeking

a rebound after that drop. Investors now pushing back rate cut expectations until June.

Plus shares of Uber and Lyft are both rallying ahead of the open. Lyft says it expects

to post positive free cash flow for the

first time this year. Uber authorizes a $7 billion dollar not purchase. As I said, both

were up. Airbnb shares also on the move. CEO Brian Chesky saying the company plans to expand

beyond its core service with the help of AI. Let's begin with the markets, as we said, the Dow coming off the worst day since last March.

S&P, not as much going back to January, but obviously, Jim, some call it.

In fact, it was the former president of the Boston Fed today, said it was an overreaction.

Well, look, I don't know if it's an overreaction.

We've been up just nonstop since the beginning of November, and I think a lot of people just, well, I don't know if it's no reaction. We've been up just nonstop since the beginning of November.

And I think a lot of people just said, well, wait a second.

We've got things like Arm, which are just too crazy, where you've got a short squeeze.

It's too much like GameStop.

Arm became GameStop.

One company is a growth stock and one is kaput.

I find that there is a level of enthusiasm that went too far. And I'm not saying

everything's going to be Tesla, but Tesla's going to be like what can happen, which is you get too far,

and then the future is just okay. We'll see what happens with Airbnb. Do you really buy Uber for

buy back? I mean, don't you buy Uber for growth? Yes, you can add a zero to lift and suddenly have a huge number, but then it comes back down. But it's kind of indicative of what I see. I had Harley Fickleston on last night, Shopify, one of the great growth stories of all time. And the stock gets hammered. Data dog. There's mixed, terrific quarter mixed. So what I'm leading up to is the idea that,

look, things are good, but can we just keep paying higher in an environment

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