Market Moving Insight and Analysis joined Jim Kramer, David Faber, and me, Carl Kintanilla, on the opening bell hour of CNBC Squawk on the Street. Good Thursday morning, welcome to Squawk on the Street. I'm Carl Kintania with Jim Kramer, David Faber, post-9 of the New York Stock Exchange. Futures are mixed, but off the early lows as we did get this surprise drop. In producer prices, down two-tenths. Also, Jalbis claims spiked to the highest level since August.

Ten year drops to four and a quarter. we did get this surprise drop in producer prices down two tents. Also, Jalbis claims spiked to the highest level since August.

Ten year drops to four and a quarter.

That's the lowest since April 1.

Our roadmap begins with inflation and fed expectations, holding rates steady,

projecting just one cut this year, and now this surprise on wholesale prices.

Plus, of course, we are monitoring the big vote on Elon must pay package.

He claimed shareholders voted in favor of that what would be around $46 billion right now pay

package. And Broadcom's big beat, the tech giant surging double digits in the pre-market.

You just heard Frank Holland talking about it. Also announces that 10-for-1 stock split.

Let's begin with this market reaction to the tamer than expected PPI number, Jim. That's with

claims and CPI, three doveish prints in a couple of days. We're going to hear a lot about

mortgage rates coming down and what it will mean. I think it's actually difficult to figure out

because there's just such demand for housing. It doesn't matter what. But obviously, mortgages will be more abundant. Now, what I'm focused on is what I think that Powell is really saying. This is the timorous rap. You know, it's not, yeah, sure, we got surprised by the CPI, but that doesn't mean anything. We have to get surprised repeatedly. But I also think that there's another thing going on. I think Powell is acutely

sensitive that America is, once everything rolled back to a 2019, 2020. They're not trying to get

rolled back to 2022. Now, that's hard. I mean, Walmart would tell you, listen, we can't get it

rolled back that far. There's so many issues in this economy to make it some people still feel like that inflation's not beaten. It's not going to be one month. Dave, it's not one month, maybe one year before you really feel like inflation is beaten. All right, but do you have to wait? No, but I don't like any of these things, which says, well, now it's going to be September. Because every one of these has been wrong at a certain point.

I just say, you know what, these are wrong constantly, so I'm not going to like buy.

How many times in life are we willing to be wrong and say, I mean, I remember the Eagles, we went one for six, okay, and the last, every single one, we said, you know what, we're going to win, we're going to win, we're going to win, we'll go win. By the third one, I'm like, well, you get me a break. I mean, how could, but in this, we allow people to be wrong constantly and we still take them seriously. Nope, no, no, since the pandemic, you're right, inflation is up 21%. So much. Wages, Jim, are up 22%. We're going to roll back wages, too?

Well, no, because the minimum wage snuck up. I don't think we'll do that. But I do think that, look, America's, we're an election this year.

Everyone keeps talking about inflation being the reason. We may act as if inflation doesn't feel big. But that's because, I'm going to say it, because we make a lot of money. It's big for yourself there. Well, I knew he'd make light of that. What I'm saying is that we are two countries. And if you don't think we're two countries, then you really just haven't studied your Marxian thesis lately. Oh, yeah, not in the last couple of days. 6% of the people make more than 100,000, which means that 94%... There is no doubt. We're 60% paycheck to paycheck. Of course. There is no doubt that there is a broad... Right. And we've talked about that. We mentioned it yesterday. Obviously, with that very strong number that sent the markets higher, I should say, good number for the markets with CPI, but we talked about the fact that when you look back at 2019 and how much prices are up for the basics, but you pointed to a list of things that are all down. And they're all the things you buy in a supermarket. And those are all the things that are going the way of the Fed. There are a lot of things that are going the way of the Fed because they have to do with the price of grain. I mean, you know, there are there are variables. The price of grain is not, you know, that's not anything that PAL controls, but the price of grain fell, so that left a lot of different things. Like you've talked to Tyson. So look, you know, I would say, geez, you guys are really charging lives. No, we just charge whatever the corn prices.

And I just think that that went the Fed's way.

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