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 David Faber,

Sarah Eisen at post-9 of the New York Stock Exchange. Kramer has the morning off.

S&P's eyeing a fifth consecutive day lower, something we've not seen since January.

As Jackson Hole kicks off,

September rate cut odds actually decline a little bit. Walmart says its own tariff-related costs

are rising. With each passing week, we'll get to all of it. Our roadmap begins with Walmart.

Shares under pressure after saying tariff costs continue to jump, but the retail giant is raising its outlook.

Plus, the U.S. and the European Union revealing new details about their trade deal, including tariffs on pharma and semiconductors.

And Disney's new ESPN flagship streaming service launches today.

What is at stake for the company, for its investors?

I'm going to have an exclusive with the CEO of Disney Bob Eiger and the chairman of ESPN.

Jimmy Petaro, that'll be in the next hour.

Let's begin with market reaction to Walmart's results and guidance.

COPS here pretty steady and solid in the fours.

Four, six is a beat. They raise their guidance for the year.

Some of the commentary coming out of the call, and I know you spoke to the company,

does sort of pivot around their own costs and how they expect it. for the year, some of the commentary coming out of the call, and I know you spoke to the company,

does sort of pivot around their own costs and how they expected to be increasing in Q3, Q4.

I mean, if you strip out a lot of one-offs, which is why you got the earnings missed,

they had, you know, increased insurance costs around labor and stuff like that, then it's very, it's solid growth. And actually, if you strip out all the one-offs, it's operating profit that's growing faster than sales. And the underlying sales trend is actually quite good. 4.6% U.S. comps. I mean, yes, they had a high bar, 1.5% transaction growth, ticket growth, 3.1%. And here, I I thought was the highlight, e-commerce growth,

...