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 Friday morning. Welcome to Squaw on the Street. I'm David Faber with Sarah Eisen and Mike Santoli. We are live and we're at post-9 at the New York Stock Exchange. Carl and Jim both have the morning off. Let's give you a look at futures as we get ready to wrap up the trading week.

You can see once again we're looking for a higher open. And our roadmap does begin with those markets, of course,

looking to set new milestones. This one day after the S&P 500 posted its 42nd record closing high.

As for the Fed's preferred inflation gauge PCE coming in a bit

tamer than expected year over year. And also it had the stimulus effect on China. Stocks in that

country posting their strongest week since 2008. Yeah, big week for that. Let's get to the market

reaction to that PCE number. Of course, great to have and uh mike here with me uh sarah i don't know how big a you know

how big a surprise was it i guess we'd start with well it's now become the secondary data

point to jobs because the fed has told us such so i'm more interested in next friday's jobs

report but good news for the Fed,

for the markets, inflation was pretty tame. 0.1% increase in the month of August was actually less

than economists expected. Point two. On the year-over-year pace goes up a little bit to 2.7%. It's 2.68

unrounded, which is important, which is a little higher than the 2.6. The core unrounded is 0.13 instead of 0.6.8% unrounded, which is important, which is a little higher than the 2.6.

The core unrounded is 0.13 instead of 0.15.

I know. We're doing that unwinded thing.

Which is what it rounds to 0.1 versus 0.2.

A little underwhelming on the spending and incomes data.

But nonetheless, you know, personal spending gains 0.1% in August versus 0.4% prior.

So consumer softness, I think it's part of that narrative.

And the only other thing I wanted to mention is the savings rate ticked down by 0.1 to 4.8,

which is the lowest since December, 2023.

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