Good Thursday morning. Welcome to Squawk on the Street. I'm Sarah Eithin with David Faber. We are live, as always, from post-9 of the New York Stock Exchange. Carl has the morning off.

Coming up on today's show, first on CNBC interview with PepsiCo CEO, Ramon Laguarta, as the company tops quarterly estimates driven by a return to volume growth in North America.

Plus, in a big week for bank earnings, we'll talk to the CEO of Citizens Financial Group

just out with results this morning, noting that credit is trending favorably, even amid

this heightened macro uncertainty. And we'll take a look at what's driving a major jump in

quantum computing stocks this week with a number of names of 40% or more just since Monday's open.

But first, David, you know, I'm still reflecting on Invest in America, this big conference that

we held, and some of the key takeaways when it comes to the macro environment and the investing

landscape that people should be aware of. So first of all, this warning from

Treasury Secretary Scott Bessent, we talked a lot about oil. He thinks that core inflation is

coming down and the spike in oil prices is temporary. And he issued a pretty interesting warning

for some of the gas stations. Listen to this. I think the gas prices will start coming down pretty quickly.

We've had the big declines in the past two weeks.

We'll be looking at Treasury to try to keep the retail gas stations honest

that you did this on the way up.

Better be doing this on the way down.

And I'm sure the president will call out anyone who's a bad actor.

That was a threat to the gas stations. He's adding another task for his treasury team.

That Exxon on Main Street, you're not playing ball.

Yeah, I mean, really are.

For consumers.

No, without a doubt. And have gas prices retreated markedly of late? Yes. They're coming down and he expects them to come down further because we've seen the price of oil come down over the last few weeks. We're sort of steady around the $4.10, 4.10, 411. Doesn't look like they'd really they've really come down. But they should be because, look, where's the price of oil? Right now? The price of oil has. But my point is he said they're coming down. They haven't yet come down. They will come down. I think he was mentioning the fact that oil prices have come down 20% over the last few weeks. And so that will come into the filter through.

...