Market Moving Insight and Analysis joined 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 Kintania with Jim Kramer and David Faber at post nine of the New York Stock Exchange.

Pre-market likes that softer than expected CPI print, one-tenth on headline and on core, has yields backing off two year below four,

some rotation into small caps. Russell Futures up more than 1%. Our romance begins with the

president saying the U.S. has a trade deal with China, subject to final approval from him

and President Xi. Plus, we'll have the latest read on the consumer prices, as Carl just indicated.

Coming in less than expected, core prices excluding food and energy, also below estimates.

And Elon Musk is walking back his social media posts, at least a bit about President Trump.

I'm saying they went too far.

Tesla shares are moving higher in the pre-market, building on yesterday's big gains,

and we've got a date on Autonomous for Austin.

Let's begin with these U.S.-China trade talks. In the last hour, the president did post on truth social, quote,

our deal with China is done, subject of final approval with President Xi and me.

Full magnets and any necessary rare earths will be supplied up front by China.

He went on to mention Chinese students having access to U.S. colleges and added, quote,

we're getting a total of 55 percent tariffs.

China is getting 10 percent.

Says the relationship is excellent, Jim.

We'll see how this gets received.

We got a small China readout, but that was earlier this morning. Right. Well, first, if you want to try to make money off, you were a trader, it's General Motors, which had the most problem. They also agreed to $4 billion shifts in production from Mexico. So that's a clear ramp to 53, I think. Ford's got it, too. There were the two that were held back. There's a lot of misinformation. I've seen it even in an interview this morning. Here, they were giving us to Germany and Japan.

There was absolutely just a total stranglehold on the U.S. Let's not forget that. It was not done

in a way that was in a vacuum where everybody was hurt. Second, there has to be some sort of way

...