Good Thursday morning and welcome to Squawk on the street. I'm Sarah Eisen with Carl

Kintania and David Faber live at Post 9 from the New York Stock Exchange. Today, mixed bag for Pepsi

Co. The company topping estimates, but global volumes fell in the quarter. We'll talk to the

CEO, Ramon LaGuarda, about what he's seeing from quarter. We'll talk to the CEO, Ramon Lagwarta,

about what he's seeing from customers around the world right now. Plus, Ferrari shares racing in the wrong direction this morning, as the company gives guidance that disappointed analyst, we'll talk

about the specific number that is spooking the street. But guys, the big story is still this

government shutdown and the fact that the Fed is now

flying blind into its October meeting because we're not getting the official data releases.

It's an especially uncertain time for them. We got the minutes yesterday from the last Fed meeting,

the notes from last Fed meeting. And while it seems like most of the members want to keep cutting,

there was, there's still some members that weren't so sure

that a cut was the right thing and would have been in favor of staying. In other words, there's a

debate and there's a discrepancy and they're highly data dependent and we're not getting data.

So what we've been doing is trying to get some good alternative data sources, some real-time

indicators from the banks

or from research firms about what's really happening.

So we didn't get the September jobs report, but Goldman Sachs has a jobs tracker that they look

at and that they compile.

And they take all types of things into consideration here, layoff numbers and private payrolls and that sort of thing.

So the Goldman number is in the orange. And you can see the blue is the actual non-farm payrolls

three-month average that we have. So it's very well correlated, which is why I chose it to

show today. And what it shows at that very end of the chart in the orange is that there's actually

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