It's Jim Kramer here. You're listening to the opening bell of CBC's Squawk on the Street. Don't miss a minute of the action. Good Thursday morning. Welcome to Squawk on the Street. I'm Carl Kintanian with Jim Kramer and David Faber, live at Post 9 of the New York Stock Exchange. Futures trying for a rip here after December headline CPI comes in negative by one-tenth. Six straight months of declining year-on-year inflation. We'll talk about the implications for the Fed and the markets, along with this new proxy fight at Disney in a few moments, as the guys on Squawk told you, Triands, Nelson Peltz, seeking a seat on Disney's board. We'll begin, though, with December CPI in line with expectations, down a 10th month on month, up three-tenths when you strip out food and energy. On a year-on-year, consumer prices easing back to 6-5, Jim, although I know you're looking at some things like why would apparel be up five-tenths. Look, I hate to actually criticize what are numbers, because it's numbers versus numbers.

I mean, I should have criticized last year's, but I'm dealing with melding the companies that I speak to every day with the numbers.

There is an apparel glut of just incredible portions.

It's probably one of the greatest times to buy apparel ever that I've ever seen.

I mean, there's anything from denim to cashmere. It's not on sale. So clothing is up, apparel's up.5? Give me a break. I mean, I look at things like new and used vehicles, and used vehicles we see are plummeting, not really reflected here. I know X food and energy will give me a break.

I mean, you know, eggs are the new lumber is what they say. Eggs are up double digit.

So we can certainly pin the tail of the eggs.

That's because of the poor, the avian flu.

That was called a joke. Oh, sorry. I missed it.

But I do want to point out that we have, if you looked at three months ago what we thought natural gas was going to be, and that is the heating fuel of the country, I think we would say we're in deep trouble.

Instead, I think we can say, burn, baby burn, disco inferno.

Meanwhile, you got Harker saying the days of 75 basis point hikes are behind us. Yeah, that's history. You got claims at 205, Jim. I mean, people are talking to oldie locks this morning. Yeah, well, if you didn't know any better, you would think there's this Fed chairman who's actually doing a pretty good job. I know I'm in a minority. Well, there's family members, probably with them.

But these numbers are exactly how it's supposed to slow down. I mean, I'm not in a Boeing plane right now, Boeing recommended by Credit Suisse. But I would say this is a very clear dashboard, and it's going, David, the way it should. It's not cratering. It's slowing. and it's got a lot of businesses that are really playing a role,

whether it be Logitech or computer equipment, It's not cratering, it's slowing, and it's got a lot of businesses that are really playing a role.

Whether it be Logitech or computer equipment, very bad number last night.

Taiwan Semi, saying the next quarter of two going to be weaker, or whether it be beer prices that are coming down.

So I can see a plethora of things that are going the way of J-Bow.

Okay. The market seems to be satisfied with the number as well, as we've seen the S&P bounced around a bit, but we are most likely going to have a higher open 27 minutes from now. Two-year yield went up, but then it came back down, I believe, as well. I mean, there's just appropriate response in your opinion? I'm sorry?

Appropriate response in the markets in your opinion?

Yes, I think so.

Now, I'll tell you what's really incredible. Did we not pull forward this? I mean, every day, Carl, we've been up this year. The market's been amazing. NASDAQ. Three, did we not anticipate this? So if we're up again on the same information, then I begin to think that maybe there's some sort of era of good feelings that nobody can or including some people like, I don't know, Mike Wilson, somewhat negative fellow.

Yes.

...