Market insight and analysis. You're listening to the opening bell of CNBC, Squawk on the Street.

Good Thursday morning. Welcome to Squawk on the Street. I'm Carl Cantaneeway, Jim Kramer, David Faber, the New York Stock Exchange.

Futures bounce again after four days up out of five as we start prepping for Jackson Hole, Powell's speech tomorrow.

Another day of pretty good retail

results. We'll get to that. German boon yields a one-week high, negative 61 basis points, our own 10

years back to 161, and claims were good. Our roadmap begins with the Fed's annual meeting in Jackson

Hole getting underway. Philly's Patrick Harker will join us in the next hour. Plus retail rebound, Nordstrom, and Dick's

sporting goods, both surging in the pre-market as the consumer sector coming off what was its best

day in nearly two weeks. And Tesla's second largest shareholder suggesting that Elon Musk should

step down as CEO. We've got details. Central bankers and economists for around the world are

gathering at the Kansas

City Fed's annual symposium in Jackson Hole. Investors bracing for tomorrow speech by Fed Chair Powell

amid the president's repeated calls for additional rate cuts. Some big live interviews are coming up today

and tomorrow from the summit. Our Steve Leesman will have Harker, as we said, in about an hour.

I think he's got

Bullard, Mester, tomorrow. But we do know what the minutes did to odds of at least a 50 basis

point cut yesterday, John. Yeah, look, everyone's a little talking at different moments here.

You've got the president, of course, saying the things the economy is fantastic,

which is why we need to cut rates. But now he's focused on Germany. Tweet's basically

talked about Germany. And you have the Fed focused on the data and a little more torn,

a little less torn about, the Fed's clearly, I think, thinking about the fact that retail sales are incredibly strong.

And you get that number. That claims number. They needed that claims number to be much worse.

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