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 Friday morning. Welcome to Squawk in the Street. I'm Carl Kinteneo with Jim Kramer at Post-Nine at the New York Stock Exchange. Faber has the morning off. Final trading day of the month, the quarter and the first half as futures go green on this friendly core PCE print, mostly in line, annual red down to 26. Bonds do catch a bid 10-year-4-26. A roadmap begins with politics, though,

in your portfolio. Markets are pricing in the chance of a Trump victory or the chance of a new

candidate after last night's debate performance. Nike shares are tumbling after that sales and guidance

miss. And as we said, futures in the green, the Fed's preferred inflation gauge does show

continued slowing inflation. Let's begin, though, with last night's debate between the president

and former President Trump and the implications for markets, Jim, the word disaster being used

quite a bit in the

journal today regarding President Biden.

Does it spur you to make any investment decisions?

Yes.

And I'm glad you asked me that way because I think that I don't really have that much word

out of what the press has said.

Michael Sembless, by the way, is my guy for the most part, Chapman, because he does talk about what happens if Biden drops out and does reference the fact that this is the opportunity perhaps.

He keeps saying unnewsome, unnewsome.

So let's leave it at that.

What I would like to talk about is that there are very specific issues that are pulled forward.

If you do think that there's a greater chance now that Trump will win, then what you must worry about is a true trade war with China, not a tip for

tad, but an actual thing that would really make it. So the two of the stocks that are absolutely

horrendous here anyway, Starbucks and Nike, they would be most hurt. We'll go into Nike later.

Nike actually had the ability of making Starbucks look good, which is really quite a statement right there. But one of the things that you want to worry about is Powell, because a lot of people feel that Powell's soft landing, so you might have the change, of course, there. Who knows? Maybe he pardons Peter Navarro. When Navaral comes comes back on the Secretary of State, and he's the most anti-China person I have

ever read and had the ability to talk to. But you would say, okay, listen, there's no more reason

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