Market insight and analysis. You're listening to the opening bell of CNBC, Squawk on the Street.

Good Friday morning. Welcome to Squawk on the Street. I'm Carl Kintanao with Jim Kramer, David Faber, live at Post 9 of the New York Stock Exchange.

Jobs number beats for the 14th straight month. 339,000, best since January. But unemployment does rise to about an eight-month high.

And while yields are up,

futures are holding, markets still betting on a Fed pause later this month. Our roadmap begins with

the macro picture and that blowout jobs report. Non-farm payrolls surging in May, and the Senate now

moves to prevent the nation's first debt default. Plus tech's magnificent seven, a handful of big cap names such as NVIDIA, Apple, Tesla.

They account for nearly 9% of all the S&P 500's gains year to date.

And Amazon, perhaps in talks to offer mobile service to its prime members.

The reporting of that possibility has shares of the big three carriers down sharply this morning. We'll discuss it. Let's start with the market

reaction to this morning's jobs number. Jim, we talked about whether or not this had been

derrised earlier in the week with that skip talk. June odds now of a hike still below 50, maybe in the 30 range.

It's so hard because, you know, when you see this number initially, you have to say, wow, right?

They got to tighten.

And then people start looking for lines which say they don't have to tighten.

And David, I call out, you know, I don't say they're silly, but you go to things like

part-time for economic reasons,

duration, all these different nitty gritties.

But part-time for economic reasons is down $164,000 over last month.

People coming back, people realize they're going to have to go back to work because of student loans.

I don't know.

Snap.

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