It's Jim Kramer here. You're listening to the opening bell of CBC Squawk on the Street.

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Good Friday morning. Welcome to Squawk on the Street. I'm Carl Kintzineo with Jim Kramer, David

Faber, post-9 of the New York Stock Exchange. Futures are sharply red as this growth scare

picks up some steam in July jobs missed. 114,000 smallest growth in almost four years.

Yields plummet to the lowest since December.

Our roadmap begins with mega-cap tech, though, and this big stock sell-off.

Apple, seeing a continued slowdown in China, Amazon margins narrowing while announcing plans to ratchet up AI spend.

We'll also keep an eye on big oil.

Of course, you got those tensions

in the Mideast. Exxon banked one of its highest ever profits for the second quarter. Rival Chevron's

earnings did miss expectations. We're also going to watch chip stocks, of course, NVIDIA, certainly,

but what about Intel? Those shares are going to be down sharply on news of a $10 billion cost-cutting

plan. The company's going to slash down sharply on news of a $10 billion cost-cutting plan.

Company is going to slash as many as 15,000 jobs.

Let's get right to the sell-off. The S&P and NASDAQ on pace for their third straight week

of losses as we digest those mega-cap tech results and the jobs number today.

Hiring did slow sharply in July. Jim, yesterday you said you thought

the Fed probably should have moved in July, and now the market's looking at 50 in September.

Thank you, Carl. Yeah, I just think that they misjudged the month, the Fed. It was a very weak

month, not a lot of jobs created. There are a lot of things that happened in the economy and also

things that happen in the other world, the real world, in terms of what happened to former President Trump.

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