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 Friday morning. Welcome to Squawk on the Street. I'm Carl Kintanah with David Faber, Sarah Eisen, at post-9 of the New York Stock Exchange. Kramer has the morning off. Futures do look to bounce from Thursday's decline as PCE data comes in at least no worse than expected, although personal

spending prints its worst decline in three years, 10 years four and a quarter. Bitcoin briefly

drops to 78K. Our roadmap begins with the tech trade under pressure, Nvidia slide looks to continue

maybe at the open. Tesla with the second worst month now on record. And Apple, now the

loan member of the $3 trillion club. Plus, Dell and HP shares are sliding ahead of the

open this morning. Doug delivered a mixed revenue outlook. HP warned that the current environment

for trade and how things are changing may weigh on profitability this year. And tariff pushback. China vowing to retaliate

as Trump vows additional 10% tariffs starting Tuesday. Let's begin with this market reaction to

PCE and core PCE. Three tents in line. We watched spending. We said to surprise drop, two tens

looking for a gain and then even worse,

once you account on a real basis. But overall, market doesn't seem to mind it too much.

It's a big few on inflation, because the market was starting to get worried that inflation was

getting a little sticky, and the Fed was losing its progress on the disinflation. So it's good

affirmation that we're still on trend toward lower

inflation, especially that core number. 0.3%. That's rounded up. So that's good news. And then

from a year ago, the increase is 2.6% for PCE. That's the smallest annual increase since

early 2021. That's good news when it comes to inflation. The overall number

at two and a half percent, Fed's going to like that, right? It's not 2 percent where the Fed wants

it to be, but it also isn't going on the other direction. And it's especially a relief, David,

after January. Remember, January came in very hot. And it kind of confirms that idea that

some were saying that the seasonality factor plays a role where January numbers are high in terms of inflationary, and now we're getting back to trend.

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