Market moving insight and analysis. Join Jim Kramer, David Faber and me, Carl Cantonia, on the opening bell hour of CNBC Squawk on the Street. Good Thursday morning and welcome to Squawk on the Street. I'm Sarah Eisen with Jim Kramer, live from Pose 9 of the New York Stock Exchange. Carl and David have the morning off. Take a look at Futures this morning. It's really the bond market that's in focus.

And we're seeing a little mini bounce this morning. Dow futures up 49. We're still down for the week. The S&P is tracking for a third week in a row of losses down 1.3%. A NASDAQ futures,

up 73 points. We've got a lot to talk about here on a summer Thursday. Our roadmap starts with earnings. Walmart, posting better than expected second quarter results, raising its full year guidance.

The stock is off the highs of the morning, though. Fellow Dow component, Cisco gets a lift,

feeding with its quarterly results, and talking up AI, CEO Chuck Robbins, will be joining us

here at Post 9 this hour. Plus, investors continuing to digest

Fed Minutes released yesterday, 10-year note yield hitting a fresh 15-year high. What is at stake for

equities? We're going to begin, though, with Walmart, Jim, posting a beat with its second quarter

results, raising full-year forecast, the retail giant benefiting from customers seeking

bargains, U.S. comps, up by a better

than expected 6.4 percent, and e-commerce jumping 24 percent led by pickup and delivery. They're

clearly taking share because they're out-comping their competitors and the industry.

Their question. I want to straighten some things out here. I mean, when you have e-commerce up 24%, okay, when you have advertising, which is just free money, what are the gross margins there? 35%. Much higher margin. Flywheel, I think, is cranking. Price gaps, back to school, all very strong. So they gave a little bit of a light guide. I mean, that's what people are freaking out about. There are no other holes, and I have to tell you, it's really a light on the operating income growth. You'd buy it. Now, look, I mean, it did run out. Even though sentiment is very strong already. It ran up. Right? It ran up into earning. Sam's up 5% or so.

Sam seems it's just okay.

But I've got to tell you, I sit here and I look at this number, and I think the general merchandise was unbelievable.

Okay, down low, single digits, 300 basis point improvement.

Let's just sit back for a second and enjoy what is happening here.

The stock's had a monster run. We can compare it to Target. By the way, and I was just, I kind of missed yesterday. I was too soft. There was a pride issue in the month of May in Target. And they acknowledged that. Right. Now, I soft pedal it. I shouldn't have done that. I'm just saying, I'm just saying. But it does look to have stabilized because July was better and August was better.

I couldn't quantify it, so I didn't know what to do.

And either could they?

Or they said they couldn't. You're right. But anyway, I think that Walmart's really good. And if you want to sell Walmart, I'll buy it from you. Okay, have it that. Well, well, it's certainly better valued than, well, Target's better valued than Walmart at this point.

And you get a better view.

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