Market insight and analysis. You're listening to the opening bell of CNBC, Squawk on the Street.

Good Wednesday morning. Welcome to Squawk on the Street. I'm Carl Kinteneer with Jim Kramer, David Faber, post-9 of the New York Stock Exchange. Bulls looking to add to Tuesday's Monster Rally as PPI now gives us more disinflationary cues, down five-tenths. biggest monthly drop in three and a half years. Retail sales soften up a bit as well.

Ten year goes to 442 today. A roadmap begins with target, though, smashing expectations. Shares are surging ahead of the open, even as shoppers pull back a bit.

Plus rally mode, the S&P and NASDAQ knocks what was the best day they've had since April, the magnificent seven stocks, adding more than $200 billion to their market caps.

That was just one day.

And it may be that we have more gains on tap today.

Stay tuned.

President Biden is said to meet China's Xi Jinping.

That's just a few hours from now.

And, of course, one question, how China's economic slowdown factors into today's historic

models?

Let's get the target surging on this Q3 earnings beat, holiday quarter profit guidance, largely

above consensus.

Company cites some lower inventory levels and supply chain costs.

Comps did fall 49 on weakness indiscretionary.

That's the biggest drop in comp since 2009. Here's Brian Cornell on the call.

While we're happy to see inflation rates moderating this year, if you compare industry pricing

in key categories back to 2020, included home pricing for families has increased 25% overall,

and in some areas, up to 30%.

And if you're a parent raising a baby, you're facing increases of more than 30% on baby food

and formula 2.

And that's in addition to persistent increases in a variety of other categories.

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