Market insight and analysis. You're listening to the opening bell of CNBC, Squawk on the Street.

Good Friday morning. Welcome to Squawk of the Street. I'm Carl Kenton, with Jim Kramer, David Faber, at the New York Stock Exchange.

Futures are soaring as the market welcomes this miss on April jobs. 175,000, some negative revisions, wages run cool.

Ten year is back below four and a half. And that's where

our roadmap again. Stock's roaring on the less than expected number. Unemployment rises a tick to

three nine. Plus Apple is posting a double digit drop in iPhone sales, but it did approve that

$110 billion buyback. That's the most ever for a public company, and it is giving the stock a boost

in the pre-market. And the price for Paramount, Sony, Apollo submitting what is an all-cash, $26 billion

offer. That includes debt, by the way, for the company. But I will bring you up to date with the

very latest reporting on this saga. Let's get the market reaction to this morning's jobs number, as we said,

175. We were looking for 240, negative revisions of about 22K. Bond market kind of sniffed this

one out, Jim. Yeah, it did. This is one of those moments where I think you're sitting there and saying,

well, think about the narrative we had on Tuesday that tomorrow, a pal's going to lower the boom and talk about how, yeah, I mean, the chances are we could have a rate hike. And he would have looked very foolish. Instead, now people are saying that he had the number. No, I don't think he had the number. It's pretty tightly kept secret. But David, when I look at this, I say to myself, all right, well, probably will get a rate cut if things get a little bit lighter

and that the market is very poised to have a run here, which is really amazing.

Well, yeah, I mean, the tenure right there tells the story, doesn't it, Jim?

Yeah, it sure does.

Falling dramatically in terms of yield as it has.

We were at 4-7 very recently.

Yeah. It's very positive. It's very positive. Yeah, it is because now we're, there's not much

ahead of us because we're kind of out of the big earnings period. Yeah. So if you can kind of coast on a lot

of stocks. That said, we're still going to continue to have this endless conversation as to how many and when in terms of rate cuts. And it doesn't appear that one is on the horizon in the nearest term. Well, let's do this. Why don't we just ban it here and just do our viewers a favor and just say, okay, look, we had unemployment and we had a Fed meeting and those are the two things that really matter. And now we're going to have to be like the Fed and be data dependent. If there's data that's in line, then we should just stop squawking about it and play. We should not be playing the parlor game of, well, so-and-so from the state of Cleveland. That's how I view it. Well, then you've just wiped out about six hours of programming a day here on CNBC.

We're jumping back into Fed speak tonight. When you figure out how you want to reprogram that, you let me know. Well, how about we try to make people money? It's a novel idea. Radical idea. I had draftings on last night. Story was really good. I would buy that. I had Brinker. I mean, I can't believe he's turned the corner. or Senko de Ma is a really big day for him.

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