Market moving insight and analysis.

Join Jim Kramer, David Faber, and me, Carl Kintanilla, on the opening bell hour of CNBC Squawk on the Street. Good Friday morning. Welcome to Squawk on the Street. I'm Carl Kintanian with Jim Kramer and Post 9 of the New York Stock Exchange. David Faber has the morning off. Futures are trying to bounce after Thursday's decline. And as March jobs, crush estimates, 303,000 employment rate falls, so does annual wage growth, lowest in almost three years.

Our roadmap is going to begin with that report, the strong payroll number providing some new challenges, perhaps, for the Fed.

The Treasury secretaries in China delivering a stern message about that country's treatment of U.S. businesses.

And some health care, M&A, J&J, striking a deal to acquire medical device maker shockwave medical in a $12.5 billion

cash deal.

Let's begin, though, with the market reaction to this jobs number, Jim. Unemployment down to

3.8, LFPR, up a tick or two. That's nice.

Yeah, look, I didn't mind this number because in the last few weeks, the narrative

had come that maybe we're not, maybe the consumer's gotten more frugal, maybe there's

not been a lot of spending.

And you've seen that the retail stocks all come down.

This number says, look, don't worry about that.

It's not going to be a precipitous decline. I think that the whole narrative of when they cut, well, they cut, we've got to kind of get away from that. What we have to say is like, you know what, economy's healthier than we thought, because next week we're going to be talking about profits. We're not going to be talking about the Fed. And this number gives me hope that profits will be okay at the consumer level, where I was beginning to work. We are going to talk to Lail Brannard later on this

morning about the jobs number. But quickly, some forensics on yesterday, you did not buy that this

was a Kashkari-driven service. Oh, no. I mean, it was 138 that you saw this sudden shoot-up in

oil, which seemed to be very much related to stories in the Mideast.

And then we had, you know, huge flight to quality.

And then Kaskari spoke to it actually was the opposite.

It was interest rates were reacting to flight to quality and to, it became Taiwan and became Ukraine.

But it was always, I think, the current's mid-east.

And the fact that oil is almost at $100 a barrel was considered to be worrisome, not from the inflationary point of view, but from the point of view that we feel something could happen this weekend, which is why I still don't trust this number. I really, I am worried about something happening. Does that mean you would not necessarily want to go long into the weekend?

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