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

Don't miss a minute of the action.

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

Faber, post-9 of the New York Stock Exchange. Futures are down in front of a packed session

for Fed speakers today, including Powell. CNBC's delivering Alpha Conference and EcoData.

As Joe said, 10-year yield 467 is a fresh cycle high. Our roadmap begins with investors on edge,

stocks searching for some direction into these final trading days of what is shaping up to be a weak month and quarter.

Micron shares are under pressure this morning after it offered weaker than

expected earnings guidance for the current quarter. CEO Sanjay Marocho is going to join us exclusively.

That'll be later this hour. And GameStop shares, they're rallying sharply ahead of the open.

The company names Ryan Cohen as CEO. Effective immediately.

Let's begin with the markets.

We mentioned what the yields are doing today.

Jim, we're getting your steepener.

Two's tens within 50 bases points.

I said that we would have the de-inversion and that you couldn't really be excited about

the stock market until the 20 year, which is at 4.1. One of the non-on-the-runs is now 5.4.98 crosses over the Fed Funds rate. And that would be the beginning of what I think you can finally say, this market is getting interesting. And until this, you can buy a little bit because it's oversawled. But that is, I think, going to happen. We can't seem to find any supply of oil between here and 100 to 100 we're supposed to be able to bring out some supply

according to sold. But that is, I think, going to happen. We can't seem to find any supply of oil between

here and 100. 100 are supposed to be able to bring out some supply, according to the technicians

I talked to and to the oil companies. But I don't want to give up here because this run has been

so quick that it needs almost to consolidate. So here's what I've come up with. We're going to

have a test, I believe, actually know the time, but 142 to 143. That's when we bottomed yesterday at PM. Oh, you mean time of day? The actual time of day. No, I just like, I dreamed things up. That was yesterday, you're saying. I got up at 3 o'clock to get this stuff right. Of course, the dog relieved himself because he thought it was time to go outside.

...