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. Hey, good Monday morning. Welcome to Squawk on the Street. I'm Carl Kintenea with Jim Kramer, David Faber, back at post nine of the New York Stock Exchange, setting the table for a big week. CPI, bank earnings, and more strategist commentary on what the second half may bring. tenure, as Joe said, still 408, close to some eight-month highs. Our roadmap this morning, that's where it's going to begin with the big week ahead for investors, key inflation data on deck, a lot of Fed speak, and of course the bank's kicking off earning season.

The city is downgrading U.S. stock, saying performance may go on pause after a solid first half, but it is upgrading

one other major global market. And that war of words between Elon Musk and Mark Zuckerberg,

well, it just keeps heating up as threads. That new offering from META surges pass a major milestone.

Let's begin with the markets on this new week of trading. Jim, you've been fairly circumspect about what the second half's going to bring. Yeah, I mean, look, we have this CPI number Wednesday. I did a piece for Investment Club, which just talked about we're just not going to get what J-PAL wants. I think there's a big mistake. I think that we keep thinking that he'll be happy with it's going in the right direction,

because that's what we keep here.

And I don't think he wants it.

I think he wants it to be better than it was.

And he stuck.

Remember, housing used to me the CPI.

They took it out in 1983.

But housing's terrible.

And I use the event. I use this story about my favorite...

People may get confused when you say housing is terrible. Because within five minutes from now,

you're going to talk about housing stocks being great. Okay. No, you're absolutely not.

I apologize. Yeah. Home prices have gone up 40% since 2019.

But home prices are not in the CPI.

But I honestly think that we may look at the CPI and say, maybe we're out of the woods.

But I think that Jay Powell is saying, hey, listen, these have to come down.

We need more homes.

And yet the housing companies are doing so well because they're for the first time not building homes unless they think they have buyers.

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