It's Jim Kramer here. You're listening to the opening bell of CBC squawk on the street.

Don't miss a minute of the action. Good Monday morning. Welcome to Squawk on the Street. I'm Carl Kintanilla with David Faber. Mike Santoli here at Post 9 of the New York Stock Exchange. Kramer has the morning off. Future is pretty steady, but arranging the placemats for a consequential week at Jackson Hall. plenty of July end retail earnings, and, of course, the meeting today at the White House

between the President, EU leaders, and Zelensky.

Our roadmap begins with the Fed, though, front and center as Powell and global central bankers

head to Jackson Hole this week for their annual policy conference.

Also ahead, Ukraine's president and other European leaders will be at the White House today.

This follows the president's meeting with Vladimir Putin on Friday. And a big week for retailers,

Walmart, Home Depot, Costco, and Target, all amongst the names that will be reporting earnings.

Let's begin with the markets, though, after a week of record highs for stocks,

including one for the Dow, first one of the year on Friday. Mike, a lot of discussion over

the weekend and today, not just about the percentage of companies that are beating on

earnings and the way in which Q2 earnings came in double digit. But credit spreads,

got to go back to the late 90s to find spreads this tight. Oh, yeah. Financial conditions are pretty loose. The corporate sector is, you know, doing its part. It's interesting to have all that be the case, and then we're still kind of fixated on the likelihood or prospect of a September rate cut, though it does make sense in the abstract, just because of the power of that

payroll report from August 1st. You know, two-year note yields are down, you know, 0.2 percentage

points since then, and they've kind of held down there. So, market's ability to kind of shrug off

three really imperfect inflation reports from last week if you really

want to slice it. It does show the conviction building there. And in terms of the beat rate for

earnings, I think that in multiple respects, we're still feeding off of the extreme fear and mental

adjustment that went on in the spring.

Right? During and right after Liberation Day, you got people panicked out of risk assets.

People not only assumed it was going to be rough for corporate earnings and reduced estimates,

but also kind of assumed that the sort of U.S. exceptionalism trade was going to have to unwind.

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