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What's On: Discretionaries, and the Argument for Big Caps

Here's what's up on Thursday's Squawk on the Street:

-- Are discretionary stocks making a comeback? We're talking about stocks like Tiffany, it's up 12 percent in the last month. Also this morning, earnings from Williams-Sonoma. America is back into cooking, big time, this morning we'll find out if the stock's getting a pop, it's up 16 percent in the last month.

-- Plus, Hewlett-Packard versus Dell. Both companies' leaders are under fire, for different reason. If you had a million dollars, which stock is a better bet? Find out this morning.

-- Speaking of bets, we'll hear arguments for treasuries, commodities and big caps like GE, ExxonMobil and Microsoft.

-- Also this morning, the cast of "The Expendables." It all starts at 9 a.m. ET.