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

Good Thursday morning. Welcome to Squawk on the Street. I'm Carl Kingtonia with Jim Kramer and David Faber

at post nine of the New York Stock Exchange. Pre-market is adding to losses after the worst session

in a month on Wednesday. Mixed bag of data, but jobless claims falling to 190K means that yields are

higher across the curve.

Our roadmap begins with the soft landing scenario under pressure as recession fears continue to weigh on market sentiment.

Plus, JPMorgan's CEO, Jamie Diamond, is still pointing to plenty of economic clouds, saying there is a lot of underlying inflation out there still.

And higher costs, weigh on consumer giant Procter and gamble.

The shares are under pressure.

We'll take a look at the numbers ahead of the open.

Let's start with the markets on track to extend the losses from yesterday.

Earlier this morning on Squawk Box in Davos, J.P. Morgan Chase's Jamie Diamond weighed in on the markets in the economy a month after warning

about what he called an economic hurricane. Part of that storm clouds hit, rates went higher than

people thought. You know, with stock markets down 20 percent, the IPO market disappeared.

And the economy, of course, we all talk about it. It's like the weather. We don't really know,

and I hate guessing about that. We should have a little humility.

I've never seen anyone actually do it well.

But the real issue for the world is Russia, war, Ukraine, energy, trade. And that is serious. And that's still out there. Hopefully, it all mitigate and go away, but it may not. So, you know, as a risk manager, you kind of prepare for some of that.

Talked about rates once again, Jim, staying above five underlying inflation in his view.

Yeah, it's funny. He said you've never seen anyone get it right. Maybe he should be this fellow

Michael Semblist, who is his strategist, who does eye on the market, who's not nearly as negative

as that, and has been consistently right. And it works for Jamie. Oh, yeah, that's right, and talks to Jamie every week. So, I mean, if the contrary nature I have about Jamie is he's got someone who's right, who is not as negative, whom I think is the best there is, David, I've got to tell you, I regard this as business as usual.

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