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 at Post 9 of the New York Stock Exchange.

David Faber is the morning off. Pre-market hanging on to some gains, even as yields do swing higher today.

Two-year 412, VIX still below 20 as we've got some higher profile earnings to watch in Micron and Lulu in these final days of Q1.

Our roadmap's going to begin with stocks in rally mode. The NDX up now more than 20% from that October low.

Lulu shares are surging on these results. CEO Calvin McDonald's going to join us in just a few minutes.

And Micron's rough quarter reporting its largest loss on record, but forecasting some better

inventories ahead.

Let's begin with the markets, though, on track for a strong open.

Jim, the setup this morning was lower yields, but that turned around.

Look, I think the NASDAQ situation is very important.

A little bit of a switch in leadership in VINVIDIA, and that's because of chat sheet, BT. But this is a group that's supposed to be

going down, going into, say, a recession. There's some people who say, well, you know what, it should do

well because the balance sheets are good. That's a false construct. This group does not trade on

balance sheet. It trades on earnings growth. And there's obviously a tailwind here, whether it be

Microsoft because of some changes with GPT, whether it be, of course, in video with all the new products,

not embraced by Amazon because we don't know how many of they're going to cut that. Alphabet,

kind of lost,

but meta, meta, doing extraordinarily well. And I urge people to hit on the meta ads,

and you'll see what meta is. There is a, Reels is doing very well, and meta has a business.

So you've got some, you know, you've got some momentum that's not done led by NVIDIA, which is here and now, by the way. Invidia is not something that's going to happen in the next two years. Invita is happening right now. They can't meet demand. That's a great situation. Yeah, pretty interesting. It's going to be, it's actually the best quarter for NVIDIA in a couple of decades. Piper with a 30-page deep dive on the software business at NVIDIA.

Well, and people miss that.

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