Market moving insight and analysis join Jim Kramer, David Faber, and me, Carl Cantonea on the opening bell hour of CNBC Squawk on the Street.

Good Friday morning. Welcome back to Squawk on the Street. I'm Sarah Eisen with Pearl Cantonia and Michael Santoli, live from post nine of the New York Stock Exchange. David Faber has the morning off. Coming up this hour,

Goldman Sachs chief economist Jan Hatzius is with us as we get a fresh read on inflation any second

now ahead of the big Fed decision next week. Plus the deal rocking the media world. Netflix

officially says it is buying Warner Brothers film and

streaming assets, but will it pass regulatory scrutiny? That's the question. We'll discuss

that angle and why the movie theater industry is opposing the deal. Meantime, watching the

markets here. About nine points shy of a closing high on the S&P would be around 6890. Busy day for data, as

Sarah said, we're getting some PCE numbers, income spending, and of course, UMIS. Let's get to Rick Santelli.

Hey Rick.

Yes, a litany of data. Let's start at the beginning. September personal income comes in a bit stronger than expected, up four tenths, following at least up till now an unrevised four tenths.

If you look at the spending side, up three tenths, as expected, half in the rearview mirror, which was up six tenths.

Up three tenths actually is the lightest going back to May when it was unchanged.

If we look at personal spending on the real

side accounting for inflation, it is a goose egg. Zero, zero and zero would be the lightest

going back to minus one tenth in May. Let's look at the price, PCE price index on a month

over month basis.

This, of course, is the money ball up three-tenths as expected.

Same as last look.

If we look at year-over-year, it's up 2.8, exactly as expected.

One-tenth warmer than the rear-view mirror.

2.8 would be the warmest since March of last year. And now if we go core month over month, PCE, comes into two-tenths as expected equals last month.

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