Good Friday morning. Welcome to Squawk on the Street. I'm Sarah Eisen with Carl Kenton. Yeah. We are live, as always, from post nine of the New York Stock Exchange. David Faber has the morning off. Stocks are higher. S&P's up two-tenths of a percent. Nasdaq doing even better up a half a percent. Despite a weaker jobs report, hopes for more Fed cuts, perhaps playing into the trade here. Materials are your best performers along with real estate, consumer discretionary communication services, health care rallies. Finanials are under a little pressure. So are utilities, energy, and industrials. We are chalking up more gains for the week, though. We're up almost a percent on the S&P, and the NASDAX up 1.6 percent so far for the week. As for Treasuries, reaction to the data, they're rallying, and that's why yields are lower across the board. The 10-year yield just about 4 percent there, and the twoyear no yield below 3.5, so a pretty substantial move.

Today, Goldman Sachs' first take on the Jaws report, Chief economist Jan Hodzius will be here at Post 9

with what he thinks today's number means for the Fed.

And the stock of the day, Lulu Lemon, shares plunging right now after weaker guidance, competition and

a leisure space heats up. The CEO will be here exclusively. And a potential trillion-dollar

pay package for Elon Musk. We've got the details on Tesla's board, Tesla's board, new proposal.

We'll talk about that, but it's jobs, jobs, jobs, Carl. And this was another disappointment

on the headline number, on the revision number. Look, economists were expecting around, I don't

know, 70, 80,000 jobs. And what we got was a weaker number, 22,000 jobs added during the month

of August. So that takes the three-month average, just to smooth things over a little bit,

to 29,000, which was, you know, about 200,000 at the end of 2024. So we've really seen a deterioration

in hiring. June, here was the key, was revised down by 27,000 from 14,000 to a negative number,

actually negative 13,000. July was actually revised up, but if you take the revisions 10,000 from 14,000 to a negative number, actually negative 13,000.

July was actually revised up, but if you take the revisions together for both months,

21,000 fewer jobs than what we expect in.

And there you can see what the last few months look like in terms of job creation.

Unemployment rate goes up.

Where were the biggest job hits? Manufacturing,

a lot of people are talking about. Obviously, that's been a signature of President Trump's

administration and his goals. Well, they are losing jobs, 12,000. I think no surprise, given

what's happening with tariffs, and that sector's been in contraction. They're now down by almost 80,000

on the year. Whole trade employment, federal government. We know these are also areas

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