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 Wednesday morning. Welcome to Squawk on the Street. I'm Carl Kintanio with Jim Kramer, David Fabry at Post 9 of the New York Stock Exchange. Futures are read as alphabet and Tesla earnings lead to some Mag 7 weakness. Meantime, some macro worries getting folded in as well

from visa capital one LvMH two-year yield is the lowest now since February

our roadmap begins with some warning signs for mega cap tech Tesla and Alphabet

failed to impress dragging down some other mag seven names ahead of the open

plus visas saying consumer spending remains strong, while J.P.

Morgan C signs the macroeconomic picture may be, quote, cracking. And AT&T delivers a beat for wireless

phone subscription additions, and the shares are higher at least a half hour before we get

started with trading. Let's get started with Tesla this morning, tumbling in the pre-market on that earnings miss.

Also reporting the 7% drop in auto revenue on the call last night, Elon Musk did stress the importance

of autonomy and optimist going forward.

I really just can't emphasize just the importance of autonomy for the vehicle side and for optimists.

Although the numbers sound crazy, I think Tesla producing at volume with unsupervised MSD essentially enabling the fleet to operate like a giant autonomous fleet.

And it takes the valuation, I think, to some pretty crazy number.

Ark Invest thinks on the order of $5 trillion, I think they're probably not wrong.

And long-term optimists, I think, achieves evaluation several times that number.

I want to thank the Tesla team for strong execution and looking forward to exciting years.

Biggest miss in a few years here, Jim,

although you spent much of the morning defending the name.

Yeah, look, I think that ever since the stock broke down,

based on the autos,

it's not been as great a story that people want.

Now, it's come back pretty quickly,

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