It's Jim Kramer here. You're listening to the opening bell of CBC Squawk on the Street. Don't miss a minute of the action. Good Tuesday morning. Welcome to Squawk on the Street. I'm Carl Kintanian with Jim Kramer, David Faber, post-9 of the New York Stock Exchange. Future soar as we got a goose egg on monthly CPI of zero-tenths. Lowest monthly gain in a year. Annual readings also come in cool. Good news for the Fed,

10 year back below 4-5. Our roadmap begins with that macro picture. Yields fall and futures are

surging as annual core hits its lowest level since September of 21. Plus Home Depot's tepid

outlook, the retailer is saying it sees consumer scaling back home improvement

projects and we are keeping an eye on shares of invidia those shares

seeing their longest winning streak in seven years and certainly given the

open looks like there may be more to come but it's it's a long day carl let's get

it started begin with market reaction of course to CPI. We mentioned the headline numbers. Core goods down to 10th. Use cars, hotels, airfare, all down. Look, it's a win for the anti-inflationistas. I mean, I think that when you look at what's not great, it's the pipe natural gas. I mean, that can change. I do think that the good news here is used cars. We flagged that earlier. Apparel's not going anywhere. Shelter, I don't know, shelter's not bad. Point three. Transport's point eight. That's a little hot. But you know what this says david to me well pay more

he says i didn't have it in the fine print but it says pay more for stocks of companies doing well

that's i read that that was like an annotated version somewhere in that yeah it is it is it's the

cp it says that in the cpia tells It tells you. Pay more, okay?

Jim, not that you need any help telling people when you're right. But, you've largely been, not totally been in the campus, as Powell's going to get it right? And this is certainly another example, at least, of added evidence that. Well, you're very kind to say that. You're welcome. Plus, you saved me. my coffee cup had the cup the top wasn't on, and it would have been one of those areas burned that I just can't even fathom. It would have been a scalding the likes of which we've rarely seen on this set. So I am here for you and make sure. The opposite of what Costanza experienced. But I will tell you, David, this is very important. But Jay Powell has been doubted, sometimes ridiculed, often thought of as someone who was over his head.

You know what?

Shameful.

Shameful.

Carl, the man, has done so many masterful things.

And by the way, he also knows how to close the door yes he does or he has others close the door he tells them emphatically yes yeah we find out

who he is i mean the guy is actually you know he's a human being and the last fed chiefs weren't

he's human oh yeah one guy was like his drugstores dad.

Hey, listen, my dad was a salesman.

I mean, hey, that makes me great. I mean, come on. Give me a break. You have, I would say, your enthusiasm for a year-end rally has been tempered lately. Well, just we've heard. We're up so much. So does this remove any of that? Well, I just think that the magnificent 7, of course, Nvidia hasn't reported yet,

get to have even high, you know, you have a group of companies like an alphabet to sell it 21 times earnings. You got meta selling a little bit more times that. You have Amazon putting up a great quarter and nobody seems to care. InVidia, I've got price targets that are so boosted. I mean, we could just talk,

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