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

And we're back. Good Thursday morning. Welcome to Squawk on the Street. I'm Carl Kintanian with Jim Kramer, David Faber, Post 9 of the New York Stock Exchange.

Futures are a bit soft as these economic worries seep further into

retail earnings like Macy's and the Challenger layoff data. A number we don't watch a lot, but it is

the highest figure since July of 2020. Two-year yields dropped to 396 this morning. A robot begins

with tariffs and this sell-off. Wall Street and corporate leaders

are now digesting all the news. That's coming out of the White House. Plus, the doge effect on the

larger market. Carl just mentioned at Challenger Grand Christmas, says U.S. employers announced the

largest number of monthly layoffs since 2020, with one-third attributed to Elon Musk's efforts to

slash the federal workforce.

And the AI trade is also in the spotlight.

Marbell's down sharply.

That's weighing on the chip sector, despite posting quarterly results above what were at least the consensus of analysts.

Let's get right to the markets.

Back in sell-off mode after the rally yesterday, Jim, we've got claims, we've got productivity, the trade deficit, and we haven't even talked about Marvell yet.

Right.

And remember, there's weather.

I think weather's really important.

It was cold or snowy rainy rainy in all these months that we've had, and so therefore the forecast for bed.

There's a saying among the tough guys,

and they happen to, with the history of Frank Slutman,

who was the guy who took service now where it went to,

...