Market Moving Insight and Analysis joined Jim Kramer, David Faber, and me, Carl Kintania, on the opening bell hour of CNBC Squawk on the Street. Good Friday morning. Welcome to Squawk on the Street. I'm Carl Kintanier with Jim Kramer at Post 9 of the New York Stock Exchange. David Faber has the morning off. Stocks do look to open a bit lower on the back of a firm December jobs read. 216, the highest print since September. Wages run a tad hot,

10-year touches 410 before backing off. That's where our roadmap begins. The blowout jobs report,

U.S. payrolls up $216,000 in December, better than expected. The ongoing tech turbulence,

NASDAQ, riding its longest losing streak since October of 22, and we continue to monitor

developments in the Red Sea as shipping giant Maersk diverts its vessels away from that area now

for the foreseeable future. Let's begin, though, with the market reaction to the jobs number, Jim.

We mentioned the better print, but some revisions, household surveys getting some eyeballs.

Yeah, I think that's absolutely right. That's the story. The revisions offset what you're seeing.

That's why the interest rates immediately jumped up and then they backed off a little.

I think it's interesting government, $52,000. That was the big Delta health care.

It's just been strong $38,000. But we have construction to stand up a little bit.

And then leisure and hospitality, which have been red hot post-COVID is unchanged.

Retail is okay.

And then I find that average out of the earnings pretty much the same.

This is not nearly as negative as when it first heard negative, meaning interest rates shoot up.

Right.

I think when people pulled apart the numbers, they said, that's too hot but let's take off the six rate cuts let's go

back to three rate cuts right um maybe lfpr is the most concerning why would we have participation

dropped by the most since january of 21 i i don't know uh that's you know sometimes you look at these numbers and say, okay, look, I got to learn more about it. I don't want to cuff it. I was surprised at that. Yeah. I was surprised. Look, I think Carl, in the end, there was just this camp which just said it's going to be really weak, and then there was this camp which said it's going to be weak. But there wasn't a camp which just said it's going to be okay. And so the okay camp is now scrambling to sell Mag 7. I mean, it really is like that. Yeah. I mean, the okay camp just says, wow, I can't stay in the mag seven. I better go into the, there was a great piece of this point. It got removed from the journalist.

It's like the amount of money going into cash is extraordinary because cash is extraordinary.

You get like five.

You make a lot of money with five and not have to worry, of course, if they cut rates immediately, they would.

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