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 Thursday morning. Welcome to Squawk on the Street. I'm David Favor with Jim Kramer. We're live from Post 9 at the New York Stock Exchange. Carl is on assignment. Let's give you a look at futures. You just heard Becky say it. So you really don't need to hear me say it again. So I won't. Just look.

All right, let's get to our roadmap this morning. It starts heard Becky say it so you really don't need to hear me say it again so I won't just

look all right let's get to our roadmap this morning it starts with the fed's preferred

inflation gauge January core PCE in line over year over year up 2.8% on the tech front

you know we got sales force out with a beat in terms of its quarterly

results. Stock's not doing much. So I did, you know, revenue forecast, certainly concerning. We'll

talk to Jim, obviously, a lot about that. And we'll talk a lot about Snowflake. That stock is down

dramatically this morning, both on guidance and the news that its CEO Frank Sluppin will be retiring. So about him. Yeah. Suboptin. All right. Let's start with the inflation data. Sort of get that out of the way before we move on a couple of those big stock stories this morning. What's your take on this PCE number? Okay, look, and in line is, is cool. That's the way

I look at it. I think that there were a lot of people who thought after the CPI, this one could be

bad too. And when you look at the progression of the S&P futures, David, it really is incredible

how negative people are underneath. I mean, when Frank was on, Frank Holland's

this point, he saw the future's just sinking as if

the, it was a foregone conclusion that the number would be too

hot.

We keep seeing that, which is, I think, one of the puts

underneath the market is the actual negativity

the future is in the morning.

Interesting. And of course, to your point, there is that move up in the futures again. And we'll see. Oftentimes, we trade away whatever we were doing in the futures market very quickly when the market opens. But you see that big move up. Right. It's the stigma of this market. There's a belief that it all has to end. I mean, this whole Nvidia fueled rally, if you want to call it that,

we'll talk about most of the day,

is really just about people saying, oh, yeah, AI, I don't believe it.

And by 935, they're, like, temporary believers.

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