Good Thursday morning. Welcome to Squawk on the Street. I'm Sarah Eisen with Carl Continia. David Faber has the morning off. We are live at post nine of the New York Stock Exchange. Stocks are a little bit higher. We're up a quarter of 1% on the S&P 500. Nasdaq continues to push higher. We're headed for now more than 1% up week on the NASDAQ composite. Industrials lead the charge today along with technology, consumer staples. We got a mix,

and we have some good earnings, and that's what's fueling the trade. Pepsi's helping the

staples, for instance. Financials are having another upday after earnings, utilities, consumer

discretionary, all positive right now. As the market continues this upswing, take a look at treasury

prices right now. As we can see, it's a mixed picture. We are getting some buying, especially at the long end of the curve, which we've been watching that 30-year yield, right up against 5%. Two-year yield, slightly firmer, 3.8%. Better retail sales. We'll talk about it. Better jobless claims as well. Also ahead this hour. Goldman Sachs chief U.S. economist David Merrickle joins us with the firm's latest

thinking on Terry. talk about it, better jobless claims as well. Also ahead this hour, Goldman Sachs, chief U.S.

economist David Merrickle joins us with the firm's latest thinking on tariffs, inflation,

and of course the president's feud with the Fed Chair. Plus the read on the regionals.

We will speak with the CEO of Fifth Third Bank War, fresh off earnings, about his view on the consumer

and much more. And speaking of earnings, we're looking ahead to Netflix. Do out with their results after the bell. Top analyst Laura Martin tells us what she's watching from that report. It's been an important day for economic data, and we're getting a little bit more. Let's get back to Rick Santelli. Morning, Rick. Good morning, Carl. Yes, business inventories for the month of May. Inventories have been much more scrutinized of late due to tariff issues.

And, well, they may be affecting this, unchanged for the second consecutive month. So we see that April and May unchanged. But if you look at January, February, March, up four tenths, up two tens, up one-tenth,

you get the feeling, of course, that we push so much ahead. Inventory's built on the business

side. Now they're starting to wean down. The question is, are they sitting somewhere? Is there

plenty of inventory? Are we going to whittle it down with sales? So we want to pay particularly

close attention here. And I know Sarah pointed out 30-year bond in 5% but there's an

awful lot of eyeballs that just watch us get very close to the big psychological level

and tens of four and a half percent and then back away there's more data out as a

matter of fact National Association of Home Builders Sentiment Index also hitting the wires.

And for that, we head east to Diana Oleg. Diana? Well, Rick, Homebuilder Sentiment in July rose 1.33 on the NHB Index.

That is right along expectations. But anything below 50 is considered negative and the index stood at

41 last July. It has been negative now for 15 straight months. The slight boost came from the

recently passed Budget Act, which provided for some tax relief for households, home builders,

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