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 Thursday morning. Welcome to Squawk on the Street. I'm Carl Kintanian with Jim Kramer, David Faber, post nine of the New York Stock Exchange. Future is bouncing a bit. Despite a weaker than expected QN GDP number, market seems more interested in the ongoing wave of companies raising guidance today.

Honeywell, American, MasterCard, Merck, and Meta guiding above last night. Our roadmap begins

with the economy, though, expanding slower than expected. And this earnings deluge. It is the

busiest day of corporate results. Comcast, Caterpillar, Big Pharma, all crossing the tape,

and of course, Amazon tonight.

Plus shares of meta are surging. In fact, they're getting very close to a one-year high.

The company forecasting a resurgence, an acceleration of revenue growth.

And the CEOs of Service Now and Southwest Airlines are going to join us this hour.

We'll be discussing, of course, those companies' quarterly results. So let's begin with some signs of an economic slowdown. The government's initial reading of first quarter GDP coming in at an annualized rate of 1-1. That's compared to 2-6 and Q4, and expectations of about 1-9 or 2. Atlanta Fed, actually, Jim, was right on the money at 1-1.

Boy, they've been right on a lot of stuff.

I follow them now.

It used to be St. Louis Fed.

You can look at them.

But Atlanta Fed's been a great arbiter of what's coming.

I was surprised because it's not really jiving with the hiring,

including today's jobless claims.

There's just this slowdown and people still being hired at higher wages.

So if I were the Fed, I would say, you know what, we haven't won yet.

We have to break the cycle of higher wages in a slowdown, David,

because someone is going to say stack legislation.

So is this going to do that?

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