Good Friday morning. Welcome to Squawk on the Street. I'm Carl Kintania with Leslie Picker,

Mike Santoli, live at Post 9 of the New York Stock Exchange. David and Sarah have the morning off.

Coming up on today's show, S&P looking to close out its eight straight week of gains. The longest

winning streak since 2023, but one expert says to brace

for some choppiness ahead. Kevin Warsh will be sworn in next hour as the new Fed chair, former

Minneapolis Fed President Narayana Coachal Lakota's with us, talk about the challenges he might

face. And we'll talk to early SpaceX investor Justin Fisner-Wolson about why he says it's no longer just a rocket company.

But first, breaking economic data just crossing.

Rick Santelli has it for us.

Hi, Rick.

Hi, Mike, and indeed not really good news here.

These are University of Michigan-Semitism May final reads.

They're adjusting the mid-month reads.

And all of them are lower than expected and lower than our last look.

Headline number moves from 48.2 to 44.8.

That is another new all-time low going back to the 70s.

And if we look at what's current conditions, same scenario,

45.8, new all-time low back to the 70s. If we look at expectations from 48.5 mid-month

to 44.1, you guessed it, new all-time low going back to the 70s.

On the inflation, also not good news because it's going up.

The one-year inflation from 4.5 to 4.8, that would be the warmest going back to, wow,

let me think here.

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