Market Moving Insight and Analysis joined Jim Kramer, David Faber, and me, Carl Kintanilla, on the opening bell hour of CNBC Squawk on the Street.

Good Thursday morning, welcome to Squawk on the Street. I'm Carl Kintanio with Jim Kramer and David Faber post 9 of the New York Stock Exchange.

Pre-market mostly red here after the Dow did snap a three-day losing streak. Got some cross currents at work.

Oil lowest since August, but long-term yields are higher after claims come in light.

207,000.

Five Fed speakers today.

Our roadmap begins with the drop in oil coming off their biggest one-day slide in 2023.

Plus the Ozempic effect, Walmart saying it's seeing a slight holdback for certain food products because of those weight-lossed drugs.

And Disney's Zismal Run, the stock's back below 80 bucks, a share, its lowest level since October 2014.

Let's begin with a drop in oil prices.

WTI on pace for the worst week since March. Jim,

we got down to 82.35 this morning. Yesterday, biggest drop since May. I know. The Department of Energy

numbers were weak. The gasoline numbers were weak, the lowest, what, since 1996. When you speak

to the chieftains of the oil companies, they just

want to stand there and buy the shares, because they don't think that this is the right

market. They think that the higher price is the right market. David, I look at what's

happened with oil and I say, if you have retail weakness, if you have fewer people, obviously, people from student loans, which

turns to be a very big number. Fewer people going places. Obviously, there's going to be a backup

of gasoline, but I think that this price is actually real. I understand that the oil companies

want to buy back stock. The oil stocks never went up as much as the oil price.

No, but when you say this price is real, what do you mean? I mean, I don't think the 94-95. Oh, I see. They ran into resistance, and there were a lot of talk that that was a short-squeeze when it got that high. Main time. My in years a 235 to be too easy. Gas prices, meantime, lowest since the end of July. Yes.

And if you look at front month futures of our Bob, implies maybe another 12% down.

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