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, David Faber,

at post-night of the New York Stock Exchange. Coming off the 44th S&P all-time high of the year,

futures are lower as Core CPI does come in a 10th hot, although annual headline slows

for the sixth consecutive month, the lowest since 2021. Our roadmap begins with the markets making

history, the S&P 500 and Dow at record closing highs going into today's session. On the earnings front,

we are watching shares of Delta. The airline's revenue guidance and quarterly results did come in below consensus.

Also ahead, we're going to bring you the latest on Hurricane Milton after it slammed into Florida, causing catastrophic damage and still leading millions without power.

Let's begin with this morning's CPI print, Jim. Two-four year-on-year is the lowest, as we said,

since 2021, down six straight months. I think the new thing you talk about is it's lower, but not

fast enough lower or lower, but not as low as we'd like. Interest rates bobbing and weaving

all morning. Actually, kind of almost like a small cap stock, a red chip, so to speak.

And I think that, David, this is one of those where they've been pressing the market down for days

because the long rates have kind of gone up and people thought maybe this was going to be the

culprit.

But anyway, the market's fall on still.

I mean, because the bias, for whatever reason,

seems to always favor the bears.

And I don't understand it because we are in a very big, powerful bull market for more than two years.

But we've had a nice little rally in things like

Nvidia, haven't we?

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