It's Jim Kramer here. You're listening to the opening bell of CNBC Squawk on the Street. Don't miss a minute of the action. Good Wednesday morning. Welcome to Squawk on the Street. I'm Carl Kingtonia with Jim Kramer, David Faber, Post 9 of the New York Stock Exchange. All-time highs once again in sight as we get our first deceleration of the year for CPI of 3-10s, Touchlight on headlines, some relief in services. The 10-year is down to 435.

A roadmap begins with that macro picture. Consumer prices with the first slowdown of the year. Retail sales flat. Jamie Diamond calls on the U.S. to get its fiscal house in order.

Plus the intensifying AI race.

Google is rolling out its most powerful AI assistant yet.

OpenAI's co-founder and chief scientist is calling it quits.

And a bipartisan Senate group out with a new report on how best to regulate the technology.

And our Sarah Eisen is live from Jerusalem.

She's speaking one-on-one with Israeli Prime Minister Benjamin Netanyahu.

Let's get to the CPI print, as we pointed out, 3-6 core year-on-year, Jim.

Take it back to 2021.

More than half is gasoline in shelter.

Yeah, and I think it's only going to get better.

Gasoline, obviously, oils come down, I.E. Western reports saying it's going to, it's not, shouldn't even be at this level. Food, we're starting to see some things in food that indicate that things are getting better. I mean, for instance, one of the things that they said that was bad was cereal. But as we know, David, remember I told you that Kellogg says that there's too much cereal?

We're just you buy one, get one. So the things that people are being hurt by, except for shelter and, of course, insurance, are going down.

Did you see the refiners? They're collapsing.

Yeah. All right. Copper keeps going up.

Oh, but in reference to what?

We don't use copper in our homes.

No, we use it. Data centers.

All right, back to the market. You don't live in data centers.

We'll get to, we might one day.

Market response appropriate, then?

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