Good Thursday morning. Welcome to Squawk on the Street. I'm Sarah Eisen with Carl

Kintania and David Faber. We are live at Post 9, as always, from the New York Stock Exchange.

Ahead this hour, the latest read on inflation comes in mostly in line, but some interesting

data points below the surface giving clues about the state of the economy.

We'll talk to Mark Zandi from Moody's for his read on the print.

Plus, much more on this wild AI-powered new for Snowflake, up more than 36 percent now on the back of results.

And speaking of AI, we'll talk to the CEO of $100 billion chip design firm and Nvidia partner synopsis following earnings last night.

First, though, let's get some new homes with Diana Oleg. Hey, Diana.

So we have a disappoint on new home sales in April.

It came in at 622,000 annualized units.

That is well below expectations of 663. It's down 6.2% from March,

down 11% year over year. The median sale price was 8% above March, and it was 2.2% above April

2025. That is a price of $413,600. Now, this count is based on signed contracts.

So it's people out shopping in April. You remember, mortgage rates shot up in March,

then came down a little bit in April. And that's why I think the street was expecting a smaller

drop. It was only expecting 2% drop. But now it's seeing that, again, 6% drop. The builders, they were

nervous. April starts were down 9% month to month and over 2% year over year for housing starts in

single family. So again, it's this mortgage rate kind of back and forth of we shoot up.

We come back a little. We're obviously up again in the last couple of weeks. But new home sales, you know,

to see the price that was actually up a little bit, the builders had been lowering prices to

try to get people in the door. So seeing prices up is not great for the market. Again, the big builders

can do incentives. Other builders cannot. But again, a pretty big disappoint in new home sales for

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