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

Good Thursday morning. Welcome to Squawk on the Street. I'm Carl Kingtonia with Jim Kramer, David Faber, the New York Stock Exchange.

It is risk-on. As China says, it and the U.S. have agreed to remove tariffs and phases,

although the market will be looking for details and further confirmation today as we wade through results from Qualcomm, Square, Roku, Expedia, and more.

Europe is steady. Bank of England holds 10-year yield, getting in the neighborhood of 1-9 now, which some have talked as a resistance.

Our roadmap begins with the trade rally. Futures point to new records at the open after China says it has agreed with the U.S. to rollback tariffs.

Plus takeover offer giving my latest reporting on Xerox's bear hug of HP.

And Elizabeth Warren, Bill Gates and the wealth tax, the presidential candidate proposes a sit-down with the Microsoft founder.

We're going to begin, though, with futures today.

Fresh hopes of a phase one trade agreement giving stocks a boost.

China's Commerce Ministry says the U.S. and China have agreed to phase out the tariffs

that were imposed during the trade war.

Obviously, we're going to – they don't actually say a deal has been reached,

but multiple reports on this one from Moffcom. Yeah, they don't actually say a deal has been reached, but

multiple reports on this one from Moffcom. Yeah, I don't trust them. I don't mean yesterday they said

the talks are delayed. I mean, honestly, we're just, these people are actually members of the

People's Republic. It might as well be run by the PLA, by the 8th Army. I can tell you what

really did matter yesterday in the White House.

They signed a death warrant for someone who pushed fentanyl to us and two life sentences for their colleagues.

There's a two-year stay of execution on the leader of this, but this is what President Trump is waiting for.

Far more important than any nonsense about tariffs. This is what they wanted. They wanted a signal that someone's going to be executed for fentanyl. They got it. That is big. Why has that not been, that's clearly not the focus of the reporting this morning? No. Because everybody's wrong except for me. Did my God, did I really say that?

Did I really say that?

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