Good Friday morning. Welcome to Squawk on the street. I'm Sarah Eisen with Carl Kintania.

We are live, as always, from post nine of the New York Stock Exchange. David Faber has the morning off.

Stocks are under pressure this morning. The S&P down a little more than one and a half percent.

Every sector is lower in the S&P right now. Energy is holding

up the best as oil prices surge. Financials are getting hit the hardest along with materials and

consumer discretionary. The NASDAX's down 1.2%. WTI crude surging. We're talking about a gain of

9.3% right now. Brand crude, the international benchmark, it's above $90 a barrel. In fact, above 91 right now, up 7% on these risks coming out of the Middle East. We'll talk about it in just a moment. But just adding up the losses, it's been a tough week for the Bulls. S&P now down 2% for the week. And treasuries just show you what's happening there. Kind of a mixed picture. On the short end, they're rallying and you're seeing lower yields. Maybe that's the weaker jobs report. But on the long end, sell off with higher yields. And maybe that's concerns about inflation. There's a lot going on right now. We'll talk about all of it this hour. Goldman Sachs chief economist Jan Hatzius with us. We'll hit the big jobs miss, the inflationary concerns around surging

oil prices and the war in Iran. And then later, a cannot miss interview with Fed Governor

Stephen Myron just ahead of the blackout period before the Fed's March meeting. He will react

to this morning's weaker jobs. Let's get some more economic data this

morning with Rick Sanselli. Hey Rick. Hi, Carl, indeed. This is December read on business

inventory. So it's the final capstone on the year. And it comes in as expected, up 110. So we

would have had back-to-back 110th,enth, except for last month, revised to unchanged.

What I find interesting is that the high watermark

was up four-tenths, and that was in January of 25,

which means next month when we get business inventories,

we'll pay special attention because many significant adjustments

during this tariff question period always seem to happen in January.

And we look at 416 and a 10, that's down 23 basis points on the week.

And Sarah, you're exactly right.

We are basically unchanged to a little higher and price, a little lower and yield only on a two-year.

But this is the first steepening I've seen in a while on the tens to two spread.

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