Good Thursday morning. Welcome to Squawk on the Street. I'm Sarah Eisen with Carl

Cantania and David Faber. We are live from Post 9, as always, of the New York Stock Exchange.

Today, does the end of the shutdown signal a market rally into year end? We'll hear the case

for an S&P 500 rally to 7,000 by the

end of December, even as stocks pulled back this morning. Plus, more from David's conversation

with media titan, John Malone, including thoughts on the fate of Warner Brothers Discovery

as the M&A and the media business heats up. And then speaking of many media, Disney shares under

pressure after posting a mixed

quarter, much more on that move straight ahead. But guys, today was supposed to be CPI day

and doesn't look like we're going to get October CPI. Carolyn Levitt said may not happen. So I've got

a great alternative data set for you. This comes from Consumer Ads research, which I've trusted

and looked at a long time. They get every data point on the you. This comes from consumer ads research, which I've trusted and looked at a long

time. They get every data point on the consumer. This is food prices that they have been tracking.

They look at inputs from credit cards into grocery stores. It's data through November 9th,

so it's super up to date. Here's what they're showing.

Basically, since the end of September, which you see on the chart, the year-over-year growth in food prices has moved up by 40 basis points, so basically from 2.8% to 3.2%, which is where

you see it right now.

And in the latest four weeks, it's showing that over half of the food categories are having 3% or more

inflation, which is actually up substantially from the 40% of the food prices that we're

doing that for most of the year. So there is an acceleration in the last few weeks in food prices.

It's something, as we talked about Carl yesterday, that the administration is on top of and aware of.

That's why the Treasury Secretary and the president himself have been teasing some relief on tariff, on food.

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