Market Moving Insight and Analysis joined Jim Kramer, David Faber, and me, Carl Cantonia, on the opening bell hour of CNBC Squawk on the Street.

Good Tuesday morning. Welcome to another hour of Squawk on the Street. I'm Carl Kintania with David Faber here at Post 9 of the New York Stock Exchange.

Sarah Eisen is going to join us later this hour from the NRF Big Show, along with an interview with Lulu Lemon CEO, Calvin McDonald. Meantime, Bulls trying to hang on to these opening gains in the wake of this cool PPI number. Of course, CPI joins us tomorrow. 10 years, still a bit elevated down just a touch around 479. Three big

movers were watching CigNet getting crushed after the retailer cut its sales guidance.

KB. Holmes surging after Q4 results did top estimates and deliveries rose 17%. And United Reynolds,

the top gainer acquiring smaller rival H&E equipment services in a roughly $5 billion deal. All right, we got some inflation data this morning, and it did come in cooler than expected. That has sparked a bit of a rally in the equity market, as you see. Not too much, but a bit. Let's get to our Steve Leastman. He's got a closer look at the underlying numbers of PPI. Steve.

Hey, David, yeah, finally some good news on inflation, the PPI, the producer price index coming in,

better than expected, raising some hopes that the worst may be avoided in tomorrow's consumer price index report,

which is the more important of the two.

Headline coming in 02 versus 0.4 last month and an expectation or an estimate of 04. The core flat 0-0-0-0-0-0-0-2.

Take out food energy and trade.

It actually fell 0.1%.

But the headline's still showing some in the pipeline 3-3 versus 35 looking at the details food declining after massive increases last last month some of them related to the avian flu other issues were out there but they were down this month energy though popping higher trade down 0.1% that's the measure of margins out there among wholesalers and retailers.

One concern is the domestic air travel prices rising 6.8% on the month. Some of that could carry

over into the CPI. But good news there, services another goose egg. On commentary nationwide

senior economist Ben Ayers writes, this tempers the higher end of

expectations for tomorrow's CPI report and clears the way for softer inflation readings

in early 2025.

That's one of the expectations out there that we don't get the big numbers in January and

February that we got last year.

Probabilities?

Well, January, sorry, June, 55% for just one cut.

...