Market Moving Insight and Analysis joined Jim Kramer, David Faber, me, Carl Cantonea on the opening bell hour of CNBC Squawk on the Street.

Good Thursday morning, welcome to Squawk on the Street. I'm Carl Cantoneo with Jim Kramer, David Fabry, and Post 9 of the New York Stock Exchange.

Pre-market is trying to hold steady even as we get an array of underwhelming earnings from consumer-facing companies.

Pepsi, Chipotle, the airlines, Proctor, jobless claims in line at 222K, the 10-year right around 431.

A roadmap begins with the impact of tariffs on the consumer, uncertainty and slowdown.

The key comments from some of those companies.

Plus, there's continued trade talk of confusion.

Right now, China's saying it is not involved in any ongoing talks with the U.S.

And over on the airline front, well, Southwest cuts its flights this year and it pulls guidance.

CEO Bob Jordan will be our guest later in the hour.

Let's begin with the markets after two straight days of gains, Jim, but as we pointed out,

Pepsi with a rare miss, Chipotle comps negative for the first time since the pandemic.

It's funny.

Listen to what you were saying about that Tepid, and Tepid is the operative term.

The only one that is just blow away was Service Now, Bill McDermott.

Texan?

Oh, right.

Service Now and Texas Instruments are the two outliers today, right?

Yes, Texas Instruments, they're very...

LRCX maybe, you throw in there?

But that people lowered the price targets.

I thought lamb was great.

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