it is 5:00 a.m. here at cnbc global headquarters and here's your "five@5." we're going to start with keeping the rally alive. stocks looking to extend their longest win streak in two years. despite the warning, the campaign may not be over. helping the stocks go higher, big tech. and the big news that keeps rolling in from hoft. hot on its heels, amazon and looking to take a bite out of the chatgpt market share.

and then later in the show, cyber stocks, they may be popping, but no hack attacks on blue chip companies. we're going to speak with one ceo looking to change that narrative. it's wednesday, november 8th, 2023. you're watching "worldwide exchange" right here on cnbc. good morning and welcome to "worldwide exchange." i'm frank holland. let's get you ready to start your day. as always we take a look at stock futures. take a look. we're slightly down to flat. you can see the dow open up maybe eight points lower, but, again, it's very early. yesterday, the s&p and nasdaq now riding their longest daily win streak since 2021, up seven sessions in a row. helping to drive that action, big tech and microsoft. they're seeing their longest daily win streak since about two years ago. other names set to open up,

we're talking a wide variety, o'reilly auto, cardinal health. you can see walmart going higher. we start with the benchmark 10-year yield of 4.75%, almost 4.58. we're looking at oil. wti coming off its lowest since july. oil just fractionally loyer right now. down about a third of a percent. you see a decline in recent weeks. oil down almost 7% in the last month. that's the setup for the u.s. markets. despite the move higher for equities, investors, they continue to debate the fed's next move. expectations are rising. interest rates have peak and the first cut could come as early as machlt fed governor christopher waller says the economy needs a

little watching right now. fed governor michelle bowman says high irrer -- higher rates are needed. let's bring in robert. great to have you here. >> good morning, frank. >> we receive seen the market, the pause from the fed,s that was a bit of a dovish pause and the fed may be pretty close to ending its rate hiking cam paint you heard the comment from the fed festivals. is that going to change? ? i think the fed is going to continue to be vigilant and talk about needing progress on inflation. if we're not at the end, we're very close to the end. we saw a preview, i think, of next year with last week's action with fed futures coming down a bit and markets rallying. i think that's going to be the key story for the next 12

months. >> this resurgence of hawk officials, how does that impact the bond market? >> i think we'll probably settle in around these levels. the outlook is around 4.5. i think that's a pretty stable place for the time being. we'll continue to see how inflation unfolds particularly with numbers next week. i expect the t.e.d. talk to be somewhat hawkish. they're going to keep an eye on this. they'd rather do too much than too letter. i think from here on out the focus will be on fed and monetary inflation. >> we're released a new cnbc poll. it measures what 18 to 34-year-olds think about the economy a year out from the election. we ask whether the stockmarket

is a good place to invest in and build wealth. more than 60% said yes. what's your take on that? >> i think it's a good answer. over time we've seen the resilience of the u.s. economy. we've seen the ability of the companies in the u.s. to grow earnings. that's how wealth is created. that's over generations. i think that's a good response from the youth of america. >> so you agree with the youth of america. i want to look at where you're looking for opportunities in the market. right now it's consumer disc discretionary. give me a sense. what do you see in there? why is that the place to be right now in this environmental? >> i think that's a sector that has three things going for it. the first is the revenues have been growing. the job market remains pretty strong. when you put people to work, you have more money to spend. that's good for revenues. then we've seen earnings growing as well. it hasn't been just from the revenue side. so even if revenues slow a bit, margins have been very strong in

this base and i think some of the robotics and things we've seen in the past year and throughout the pandemic is going to help the sector in terms of f the market. >> some of the top stocks in the consumer discretionary, mcdonald's, nike, as we enter the holiday season, any one of those in particular that you think has the best outlook when it comes to the consumer discretionary sector? >> i'm just going to continue with the sector rather than any individual names but i think it has a bit of a tailwind from the strong job market. i think we'll see a strong holiday season and that will give a boost as well. >> rob it teeter, always great to see you. thank you very much. time for a check of this morning's top corporate stories. our silvana henao is with us. good morning. >> good morning to you. anticipation is building ahead of next week's summit in san francisco. multiple reports this morning confirming president biden will

meet face-to-face with china president xi jinping on november 15th with final preparations still under way. now, this is set to be the two leaders' first meeting in nearly a year, though, beijing has yet to confirm xi's attendance. the white house said last week the u.s. and china have come to an agreement in principle for the two to speak with each other. amazon is reportedly developing new conservational ai software cold named olympus as it looks to catch up. according to the information, amazon is not only look tock sell the software tools to corporate customers but it's also exploring expanding it to retail stores. and rock star games is reporting its next installment of the highly anticipated grand

theft auto games as early as this week. it plans to publish a gta 6 next month. it's sold more than 185 million companies and is the second best-selling video game right behind minecraft. take 2 reports earnings today. >> are you a gamer? do you game? >> no. i play mario cart. >> that's a game. i play sports games. i'm about to buy a new playstation myself. we'll talk about gaming and everything else. we've got a lot more to come including the one word that investors have to note today. but first europe's banking sector gets a boost after a report from ubs. plus cyber stocks may be popping, but so are hack attacks on blue chip companies. we'll speak with one ceo. we'll have what you need to watch for when it comes to

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welcome back to "worldwide exchange." look at the markets peaking. let's see how europe is shaping up as the day gets underway. our julianna tatelbaum with much

more from the london room. good morning. >> good morning to you. here in europe we're off to a pretty lackluster start as well, a little more so than what the u.s. futures indicate for stateside trade. you've got red for the most part. every major region was trading lower. now you have the spanish market dipping its toes into positive territory. the xetra dax is down, some big corporates recording their earnings. bayer, that stock under pressure after delivering results today. commerzbank performing quite well after delivering their latest earnings. ftse 100 down. the swiss market floodlining and you have underperforming in italy. european retailers are split down the aisle. marks & spencer is soaring for the first time in four years.

but the supermarket group is under pressure after cutting its profit outlook after they flagged margin weakness in the united states. you can see a very dramatic difference. the marx & spencer share price has had an extraordinary run, up nearly 100%. today's earnings no doubt giving more fuel to the fire. >> julianna tatelbaum, thank you very much. back here, the u.s. pressure is under way. all targets in recent months costing them millions of dollars in market value. the need for cyber protection moving the bug cybersecurity up more than 16%. joining me now in a first cnbc

interview. jim, good to see you. >> good morning, flank. >> best day in over a year since you changed the name of the company from norton lifelock a year ago. you had your investor day. give us a sense. what got investors so excited about your company? yesterday was the first anniversary of the company leading in europe with norton lifelock. we brought the two companies together. yesterday was the first anniversary. the earnings were reported. all of the capabilities were coming together. we grew retentions and overall profit. so i think investors see the power of the two companies we

put together a year ago. >> i want to focus on what drove those gains. i want to talk about the big name companies. we're talking visa, best buy, amazon, among other companies. what have they been telling you over the last year about their cyber needs and i want to ask you. have you seen an uptick in demand since the start of the israel/hamas war? >> yes. our focus is really to focus on protecting the consumers, the individual on the world wide web, your personal data, digital data is everywhere. whether you shop online or do anything online, there could be a breach. sometimes you don't know. the company could be breached. we provide the software and tools for individuals to understand that their data could be out there on the dark web. we make sure they protect their privacy and their safety online. the partner as you mentioned,

visa, amazon, it's selling true because they, too, have those consumers and want to make sure they're protecting and we go to market with them. we see ai as another fuel accenting some of the threats, lower to produce and more complex to detect. that's what we're fighting. >> i also want to talk about the consumer a bit more. you mentioned you're consumer-focused. you recently put out a report that the amount the average amount a person is scammed online goes up to $1,500. that seems like a lot of money. we're showing the audience the number. give us a sense. what kind of scams are people falling victim to during the holiday season? >> scamming is definitely one of the waves of a threat, if you want. it could be really not detected. you might think you get an e-mail from a vendor you know

and you provide your personal information and here it is, you're exporting to the world wide web. we actually have developed a new tool which is powered by ai to detect those scams. and so if you have a doubt, send your scan or the text or message you received and send it toll genie. genie will have a conversation. it's one of the things we do. >> you clearly have your finger on the pulse, working at the consumer level and big companies. given us a sense, ai. how does that impact the consumer on a company level and personal level? >> it helps hackers to develop more complex deepfake activities

and lower the cost of the speech to produce them. more difficult to detect them. the same way to fight ai is with ai. we're talking about recognizing patterns and detecting the patterns. we're fighting the ai-driven scams or hacks with more ai technology. you see there's a risk and opport opportunity, and all cybersecurity companies will use those techniques. >> all right. vincent pilette celebrating your one-year anniversary since changing the name from lifelock. lisa cook is speaking at a central bank of ireland event come. cook says persistent inflationary pressures, policy rate increases abroad are among the risk to the global financial system on policies.

speaking at duke university earlier this week cook has hopes that rates are adequate to bring inflation down 2%. but the central bank will remain, quote, vigilant. we'll monitor her comments. again, lisa cook speaking right now in ireland about the global financial system. coming up on "worldwide exchange," we've got your big money movers and why one ev mar keis running out of juice and why another is all charged up and ready to go. stay with us. our job is to hp people feel safe. not only our customers but those who matter most to them. just like our company does for us. we have great benefits from principal. so i know i'm taken care of. and (pause) not just me. but the ones who matter most to me. ( ♪♪ )

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all right. welcome back to "worldwide exchange." time now for your big money movers. that's three stock stories in the morning. we start with shares of lucid. they're stuckin reverse after caughting their 2023 production outlook to between 8,000 and 8,500 vehicles, cutting it from more than 10,000 vehicles, and the company reporting third quarter sales that came in well below expectations. shares of lucid down 3.5%. this is after rushian said it's raises its production by 2,000 vehicles to 54,000 units. the ceo will be on "squawk box" to discuss the outlook and quarterly report around 8:20 eastern time. ebay issues a cautious revenue guidance. shares falling below the street's outlook. ebay receivinged a little bit of

softening in september and ept especially in the uk and germany. this comes after a bearish view of rival it etsy. the job marketplace company upwork issued strong earnings sales guidance for the rest of this year. time to look at headlines outside cnbc. phillip mena na with the very latest. >> let's begin with the latest international fallout over the israel/hamas war. on tuesday night the house of representatives pass a resolution censuring congresswoman tlaib who was accused of calling for the destruction of israel. she says her positions have been distorted. it comes as israel marked one month since the october 7th attack by hamas. the latest results from election day continue to roll

in. nbc news projects that ohio voters have passed issue 1, having the right to access abortion care into the state's constitution. meanwhile two incumbents in the south were given second terms by voters. kentucky's democratic governor andy beshear has won re-election while mississippi republican tate reeves survives a challenge from dem cath brandon presley. and there's been a republican sweep across the state government. the party kept their majority in the state senate while flips the statehouse. that's it. >> thank you very much. following the wake of yesterday's election, be sure to watch the third republican presidential primary debate hosted by nbc news. it begins at 8:00 p.m. eastern time. all right, straight ahead here on "worldwide exchange," fresh off the big mario success, nintendo looking to go deep into its archive library for another

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don't delay the game with verizon or t-mobile 5g home internet. catch it on the xfinity 10g network. it's right around 5:30 a.m. in the new york city area. there's a lot more ahead on "worldwide exchange." here's what's still on deck. investors continuing to fight comments from the fed that rate hikes may not be completely over, but the market's longest win streak in two years be in

jeopardy today? also disney set to report its latest results facing a whole host of headwinds from labor strikes to activist investors. we're going to tee up what you need to watch. one lawmaker trading in capitol hill for the classroom just to get a better grasp on art fishlg intelligence. it's wednesday, november 8th, 2023. you're watching "worldwide exchange" right here on cnbc. ♪ and welcome back to "worldwide exchange." i'm frank holland. let's get you ready to start your day as always. we pick up on the stock futures with the s&p and nasdaq riding their longest win streaks in two years. take a look right here. you u see the markets in the red. the nasdaq going back into negative territory. for a very brief moment we saw it peak into the green earlier this morning. we also want to check the bond market. as always we'll start off with

the benchmark 10-year. also important to note the yield on the 2-year ticking up a bit higher, but still below 5%. same story for the long bond at 4.71. this is important because this is a read on investor confidence and also inflation expectations. we also want to look at the energy markets, specifically oil. crude coming off a 4% drop yesterday on data signaling a buildup of supplies since its lowest level. wti crude, the u.s. benchmark, 76.60 down 1%. brent crude at basically $81 a barrel. natural gas fractionally in the green. we want to turn our earnings to a very busy day ahead. we have our contessa brewer, courtney reagan and julia boorstin what more to expect from mgm resorts, ujds armor, and walt disney. >> invefrlters have gotten a gook look at the gaming landscape because we noma cow's

rebounding. we know las vegas is still on fire from caesars who reported earnings and showed some impressive results from the regional as we. the big question for mgm will be how much did it hurt, that cyber intrusion, the disruption to business, a lkd the lingering fallout. the ceo bill hornbuckle told me they're still working through it and insurance will cover money of the financial impact. he also told me mgh had its best five days in macau over the golden week. that's the big holiday in asia. and it took market share. those are strong signs of a silver lining. the street is expecting more than a billion dollars of profit sharing in ebitda. that's the crucial earnings metric the outlook in the fourth quarter. and f1 next week may get the spotlight on the earnings call. i'll send it back to you. >> ujds armor reported its fiscal results before the opening bell and it's the first

quarter under stephanie linnartz. it's had to discount fairly heavily to move a lot of excess inventory in recent quarters though analysts are expecting gross margins to expand this time around, about 130 basis points compared to last year. investors will want to know how the athletic wear retailer is managing through all of that bloated inventory, which was up 50% year over year in the recent quarter, though that was what was compared at the time to irn cre incredibly slim levels. it's moving more to direct to consumer business. wholesalers still made a very important part of the business. investors want to know how that's going in this strained continue super environment. the consensus for earnings is 21 cents. that's a slight improvement from last year. revenue is expected to fall from

0.5%. revenues are expected to fall 3%. under armour shares are down since last reported. that's about in line with the xrt over that same teared you of time but underperforming compared to nike shares which are down 1% in the last three months. when disney reports its quarterly results, the media giant wants to show what it will look like. this is the first time disney will report urnds its new structure, breaking out into sports and giving new insight into espn's business. we're looking for an update on streaming profitability and signs of strenlts for the ad market and an outlike for disney's linear tv outlook and spending at the theme parks.

shares are down 16%, but the stocks are down. this quarter the company's expected to grow revenue 6% and earnings, 134%. i'll be talking with bob iger in an exclusive interview at 4:05 p.m. eastern. fr fr frank? let's dive deeper. we bring in peter boockvar. peter, good morning. good to have you here. i want to start off with what analysts are saying. look at what the analysts are saying. consensus buy rating target of basically 104, about a 20% upside from where it is right now. how do you look at this stock? what are you expecting from the stock? >> i'm looking for more big picture clarity on espn, on direct, and how much they'll

have to pay for hulu. at the same time, how are the winds blowing at the ad growing and consumer spending at the parks. we're hoping that flips to something that's profitable. but it's the parks business that generates most of their ebitda. in fact, it's about two-thirds of their ebitda that comes from the parks business. there are a lot of moving pieces here. so outside of just what the quarterly number's going to be, what's the big picture situation with all of these different pieces? >> you're talking about the dtc business, i'm assuming disney streaming plus. how do you view them right now? there's been issues of them not being profitable now. and now disney is taking full control of hulu. as an investor, are you in favor of that movie? >> it's hugely expensive, but i think it's an important piece in terms of their distribution.

the key for disney on the streaming business is getting the bundling right between hulu, disney+, and espn to make it attractive. disney has been trying to figure out what is the relationship between spending and how much they're going to charge for the service. i think they're coming around. i'm expecting another cut in the pace of the losses in that business. >> it seems like you have a lot of questions about bob iger's best move. looking at disney, right now do you think it's valued correctly? are you looking to trim, add, just stay where you are? >> i think it's a buy here. if you look at ebitda, they're talking about a multiple of 11 times. netflix is trading high teens.

so there's a wide gap between the two. plus with disney, you have the benefit of the gem of their parks business, which as i mentioned is about two-thirds of their ebitda with north of 30% tight margins. >> so as julia boorstin mentioned she's going to be talking to bob iger after "closing bell." you look at disney's success plan. as an investor, are you concerned what is the next step for these companies, who takes over from bob iger and when bob iger moves on? >> what i'm finding interesting is it's taken this long to find out who that right person is going to be. i'm sure internally they have a pretty good idea. i think it tells you how i ger is, he's one of the few people on the planet capable of running this business, and we haven't heard many others they're considering, but i'm pretty

confident they'll find the right person. no one is indispensable. >> do you think it's time for someone to take control as investor? >> i'm going to leave the teaming to them, but i think it would be good to know who's sort of the roster of options that they're considering. >> all right. disney reports after the bell. shares up just half a percent right now. peter boockvar, also great to see you. we're going to shift our gears to artificial intelligence. it's is it to be a big focus on capitol hill today. the senate will hold its latest forum as the d.c. tries to get a better grasp on ai. one lawmaker actually heading back to school to do just that. emily wilkins joins us now with that story. it sounds pretty interesting. good morning. >> it is a very unique thing. lawmakers have spent a lot of time in the last couple of years trying to educate themselves on ai. but one is taking it a step further. several times a week congressman

don beyer heads to george mason to take classes. he has decades on most of his peers. he prefers a note pad and pen over a laptop. he's helping lead not one but two caucuses. and he said taking classes and learning to code is making it aware of how easy it is for it to be faulty. >> you realize how imperfect any technology is and you realize we're going to be making a lot of decisions. that's going to try to defend the downside, risks of ai. >> beyer is one of the new leaders sending letters to

social media companyies yies se information on how to work with deepfake media. they're hoping to work with the organizations on potential legislation. it's unlikely congress is going to be able to completely stop deepfake information, but beyer said it's important to get ahead of some of the worst-case scenarios. >> we must not replicate our failures of social media where for 20-plus years, we've not regulated it at all. >> he's hoping congress can act before the election next year. frank? >> what impact does congress actually have on ai? >> it's a great question. congress's real role here is a little bit of oversight, but mostly it's kind of coming up with the laws, coming up with

the guardrails, and then, of course, the question, how do they get enforsd? that's smushl usually out of lawmakers' control. i think the fact you see beyer taking this seriously, taking classes in his free time, which e h doesn't have a lot of time of, and working with groups like meta and open ai to try to find solutions. even if we haven't seen the deepfakes, they haven't had an impact on elections yet, but they know the potential is there. they want to begin providing some sort of guardrails ahead of potential threats. >> emily wilkins in d.c. great story. regulatory pressure coming for apple out of europe. the fellow tech giant who's calling for action against cupertino. first as we head to break we have some of your top trending stories. the full story on ray dalio

officially hitting store shelves. diving into the trials and tribulations of the head fund's rise to employees, including buying employees, parties and other suggestions. dalio is dismissing the book calling it another sensational and tabloid book for meme who like gossip. no pennant, no problem, steve cohen unveils an $8 billion casino. step aside marvel. live action video games may be the newest money maker in hollywood. zelda has a vimoe coming out. much more "worldwide exchange" coming up after this. >> announcer: tech drivers is bro it to you by cdw.

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welcome back to "worldwide exchange." time now for your morning call sheet. we start with jpmorgan raising the rate of datadog. the company's painful way of a growth deceleration is now starting to slow down. datadog shares unchanged. cava gets a bump of $2 a

share. cava can beat reasonably set expectations ahead. shares of cava right now down almost 1%. time now for your global briefing. we're going to start with google. they're calling on regulators to designation apple's imessage a core service. they're looking at imessage being on a service that must comply with the digital services act. reuters reporting that china is asking ping to take controlling stake in country garden. they're looking to arrange a rescue. they've denied the report. and shares of commerzbank are higher after the lender reported a third quarter profit.

tripling. taking a look. down 3.5%. like many banks, commerzbank is benefiting from a rise in interest rates. it's raising its guidance for next year and announcing a more than $600 billion buyback. coming up on "worldwide exchange," we have the one word every investor may need to know and why investors may want to pump the brakes on an enthusiastic rate cut next quarter. and robinhood reporting lower estimates due to lower kr crypto volumes. toast shares are getting burned. it low eer ers its upper range full-year revenue and posted its quarter thanks to top line growth and efficiency.

the shares are down right now, almost 19%. spirit aerosystems says its plans to raise capital via stock and debt offerings. this is as they're slowing aircraft deliveries due to production issues, inflationary pressures, and supply chain demands. shares are down. much more "worldwide exchange" coming up in just a moment.

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francisco with final preparations still underway. the pairing will be the first in more than a year. goldman sachs plans to off-load general motors credit its card. they're expecting to run the process of finding gm a new us issuer. microsoft closes at record highs on optimism over ai. the stock is up for the last eight consecutive days. cheeking of chatgpt, amazon is reporting a potential rival to it. it's not only looking to sell the software tools to corporate customers but it's also exploring deploying it across various products and platforms. also this morning half of americans say their financial situation has gotten worse since the 2020 election. a new survey from bankrate point to president biden as the reason

why. a third blame congress, and a quarter blames the fed. bloomberg reporting rockstar games is announcing the highly anticipated grand theft auto iv this week. shares, they're surging in the premath, up almost 8%. here's what tow watch today. a number of earnings including disney, under armour, warner bros., and the aforementioned take 2 interactive, we have a busy day with fed chairman jay powell kicking things off. john williams, and vice chair phillip jefferson speaking this afternoon. let's get one more check on the market. looking at futures right now, they're moving a bit higher. the dow was in the red not too long ago. now fractionally higher. the s&p essentially flat right now. for much more let's bring in kevin simpson. kevin, good morning. great to see you.

>> hi, frank. >> what are you making of some of the action we're seeing in the me premarket. what do you make of all this? >> i think the recovery we saw last week was very justified considering what we saw in september and october. i think markets were really oversold and reaction was probably in large part due to the realization that the rates really are going to be haier for longer. and i think that the higher for longer narrative is going to be the most important thing that we look at. interest rates, where are they. yields, where are they. and how long does the fed need to hold them higher as inflation comes down without seeing the economy and seeing growth roll over. so very, very important to listen to what the fed speakers are talking about today. >> it sounds like investors including yourself, you're facing a new reality when it comes to the fed. with that in mind, what's your w.e.x. word of the day?

>> the w.e.x. word of the day is stubborn, frank. i think until october, wall street has been stubborn to the fact what the fed has been telling us. i don't want to age myself and you're too young to remember 1996, but greenspan famously came out and called the market performance in '96 as experiencing irrational exuberance. nobody listened to them. we didn't pay any attention at all. by no means am i comparing the markets, frank, at all. we're stubborn. when jerome powell was at jackson hole, no one paid attention. then people woke up to the idea we might not be seeing rate cuts around the corner. i'm hearing people saying in 2024 we can expect the fed to start cutting rates, but i think that's too premature. i think we're stubborn in our ways as to when the rate cut

eventually comes. we shouldn't be ultimately surprised if it doesn't happen until 2025. >> wait a second, kev. you don't see it coming until early 2025? we were showing charts today. a lot of traders see a pretty strong possibility of seeing it coming in may of next year, now 2025. may of next year. you're saying that's not going to happen. that seems like an unreasonable expectation? >> we want to prepare for the worst, hope for the best. if we see rate cuts next year early it's probably because of a recession and they're forced to do it. my case is 2025. that might be pessimistic, but i don't want to be overly optimistic. the reality is a year from now as long as inflation comes down. they don't want to make a bold mistake of starting to cut rates too quickly because we all want them to. we've been two years from this where they've taken interest rates into nothing and thrown 525 plus basis yield points into

the market. that lag effect takes ime, but we're closer to the end. much more light at the end of the tunnel. much more optimistic than last thanksgiving. a 40% chance of a cut in may, 42% chance of a cut in june. i also want to bounce something after you, kev. today's big consumer status. the big stat, it's $154 billion. that's the year-over-year increase in household credit card balances. that's according to the new york fed. that's the biggest increase since they began tracking 25 years ago with cthe consumer being a major part, how concerning is that? >> it's concerning because the consumer is what holds up the entire economy. if you look at credit card debt at $1.08 trillion. that's over a trill up. that's not just consumer debt. that's just credit card debt. the problem is the average rate on credit card debt is over 20%. so it's a snowballing disaster.

>> record-high rates right now. before we let you go, kev, i want to get to your two picks. in the industrial, give us the quick elevator pitch and why these are two great stocks to buy. >> very, very quick, these are investments, not trades. industrials will be hit hard if we go into a recession. we're cater pill earring for the first time ever. i think investors need to invest one. if you believe in the infrastructure bill, these companies print money. generally speaking they're going to be incredibly well received by shareholders, dividend increases, very low multiples, 13 on caterpillar, 13% on john deere. >> kernan simpson, great to see you as always. thank you very much. that's going to do it for us on "worldwide exchange." we've got "squawk box" coming up next. thank you for watching.

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good morning. election results still rolling in. democrats celebrating in kentucky and virginia, while mississippi's republican governor secured re-election. it's mississippi, after all. goldman sachs continuing its withdrawal from consumer lending, looking to unload its general motors credit card. and akamai shares are up. tom leighton will join us. it's wednesday, november 8th,

2023, and "squawk box" begins right now. ♪ good morning and welcome to "squawk box" right here on cnbc. we're live from the nasdaq market site in times square. i'm becky quick along with joe kernen and andrew ross sorkin. good morning, everybody. u.s. equity futures this morning are flat. got nothing to see here at this point. dow up by three. the nasdaq up by one. the s&p down by 1. you're seeing gains for nasdaq. that's the longest winning streak going back to november 2021. you're talking a pretty long time. we've been watching treasury yields. it looks like the 10-year is yielding at