headquarters and we begin with "five@5." we begin with a massive mistake as airlines weigh new guidance of how to inspect their fleet of grounded 737 max-9 jets. and a key decision from the agency on more than a dozen spot bitcoin applications. also in the red sea, houthi rebels' launch is now being

described as their largest attack on merchants ships to date. the dow snaning a three-session win streak as tech assumes a modest bounceback. later in the show, airlines cancel more than 1,000 domestic and international flights as massive storms rip across the u.s. it's wednesday, january 10th, 2023. you're watching "worldwide exchange" 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 kick off the futures with the nasdaq riding a three-session inwith streak and the dow coming off its first down day in four. take a look. we see the dow slightly lower. the s&p fractionally higher. the nasdaq making gains, about a third of a per sejt. we're checking the bond

market, the 10-year yield fallinging back at below 4%. literally one basis point back below 4%. but that seems to be a key level for the markets. we're also looking at the energy market, specifically oil. take a look. wti crude trading about 71.70 dollars a barrel. similar story for brent, trading at about 77 bucks a barrel, a few pennies over right now. that's your morning setup. let's get to this morning's top stories and the investigation continues around boeing and its grounded fleet of 737 max-9 jets. our silvana henao is here with that story. >> good wednesday morning to you. in his first remarking since friday's airlines landing, it's led to the grounding of about 100737 max-9 planes. boeing's ceo admitting missteps and problems blamed.

he says, quote, we're going to to announce our mistake and approach it with 100% and complete transparency every step of the way while working with the ntsb to investigate the exact cause of the accident. calhoun stopped short of specifying what mistake he was referring to. investigators at this point are focusing in on what led up to a door plug detaching from that boeing jet at 16,000 feet friday. a key question remains whether bolts used to help secure the panel were installed. one official says the bolt has not been recovered and regulators won't know if they were even in place until that door plug is exam pened in a laboratory, federal regulators adding the company is also revising its instructions for carriers for how they should inspect their 737 max-9 planes which will delay any effort to get them back in the air any time soon. this morning boeing shares are slightly higher in the premarket, just fractionally

higher, frank. >> absolutely. you don't want to miss our exclusive interview with boeing ceo david calhoun at 1:00 p.m. eastern time today. again, that's a cnbc exclusive. that will be a closely watched interview. silvana, thank you very much. turning our attention to a developing story in the middle east, u.s. and coalition forces responded late yesterday to what american officials now describe as the largest attack to date on merchant vessels by iranian-backed houthis in the red sea. the coalition shot down 21 drones and missiles into an area occupied by proapproximately 50 merchant ships. no injuries or damage was reported. this marks the 26th attack on merchant vessels in the region since november 19th. the iranian-bakcked houthis hav been launched attacks.

this comes a day after antony blinken warned there will be consequences if the houthis continue to assault ships. major shipping companies including maersk have die vertzed vessels from the red sea to a much longer route around southern africa. the u.n. security council has schedules a vote on a resolution demanding houthi rebels halt their attacks immediately. we'll have much more later on in the show. turning back to the markets, investors, they appear to be in a wait-and-see mode. its forecast to show it rose by 0.2% last month and 3.2%. they're looking for clues on when the fed might start cutting rates. first rate cut could come as soon as march. it 's showing a 65% chance of a cut, down from 71% a week ago.

great to have you here. >> good morning. looking ahead to the cpi report again tomorrow, how important is it for the markets in your mind? again, the meeting is not until march. we have a fed meeting before that march meeting, but do you see it as a market mover? >> i do and i don't. to your point there's a couple more key data points. i think the market will be able to digest tomorrow's market point. no matter how it goes, you'll have a whole lot of data before the fed makes that call. at the same time it's the first major data point in a while that should give guidance on where it ma may go. you mentioned the odds of a march cut. i'm still a little skeptical they're going to cut in march. if inflation comes in, you know, outside of investor expectations, even a little bit,

i think it could merit additional recalibration i think tomorrow will be important if it's not the end all be all. >> do you think it might be a catalyst to get some of the money on the sidelines off of the sidelines right now? about a trillion dollars in money markets. >> yeah, absolutely. we're looking for those catalysts that confirm a soft landing confirm that this year could be a strong year in earnings growth as well. a big story was all of the money that moved into cash. not the equities that turned into close to 20%. you're getting a 5% yield, but that does represent cash on the sidelines, so even though they'll receive some traditional sent management indicators, there's this structural force that could add fuel to the fire if we get confirmation. >> you're bringing up sentiment, something i want to talk to you about. jeffrey gundlach saying he doesn't like the market conditions pointing that the s&p made a double top, reaching just about the same level currently,

basically saying that's a bearish technical indicator. do you agree or disagree with him? >> i'm more bullish than that. i think earnings growth this year, soft landing still looks good to me. inflation coming down rapidly. i'm a little bit more bullish than that. sentiment here is probably a little bit offside. totally fine with that. but i think amidst the backdrop of a more cyclical bull market. >> you like industrials right now. i do want to ask you about them. do you see it as more expensive? historical average is about 16 times the earnings and the earnings estimates. they've declined pretty dramatically. back on october 1st, now it's down almost 1%, hitting a new estimate on friday. these are the current ones. does that concern you at all that the earnings forecast are

declininging so dramatically? >> a little bit, but i think it sets up for an easier earnings season. that's usually the case. part of the reason we like it is it's a little more industrial as well. it's the soft landing. feeble as far as, you know, vat yags, yes, a bit expensive. >> i think that's 100% valid point. i think the whole market is pretty expensive. onshoring and reshoring. you're speaking miy laiy langua. i just got back from mexico. coming up, the one word investors have to know. but first damage control at the s.e.c. after they falsely announced an approval for spot bitcoin etfs. we're going to tell you what it means for the agency's actually

decision due out today. shares of lennar are popping ahead of the open. and later, much more on the rising red sea risk. we have a very busy hour still ahead. stay with us. hi, i'm ben and i've lost 60 pounds on golo. (guitar music) i've struggled with weight my whole life. i'm sure you're like me and you've tried diet after diet. if you want to stop the insanity, try golo.

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percent. but riot platforms and marathon digital down 2.5%. we turn our attention to the cryptocurrency market and what's been a wild 12 hours for the sector. on tuesday the s.e.c. falsely announced an approval for bitcoin etf. in a statement the s.e.c. quickly denouncing the post saying its account had been compromised and the unauthorized tweet was not made by the agency or its staff. it says based on its investigation, the compromise was not due to any breach of the internal system. social media is pointing to an unidentified individual who got control of a phone number associated with the s.e.c. account. today is the deadline day for them to respond to a spot etf. it includes blackrock, grayscale, and wisdomtree. joining me is director sarah

ku kuntz. great to have you here. right now i'm looking at bitcoin under pressure now. is this s.e.c., false tweet, is that at all a catalyst for that decline? >> i think it is a decline for the catalyst. you need that better security. that being said, you know, it's not great for the people who had shorts on bitcoin. they see it go up because of this false tweet and when it was confirmed to not be real, the people who have long options lost out. it's just another day in sort of the crazy crypto world and the market will move on. >> it's a crazy world when it comes to cryptocurrency, unde understood. one thing that's not crazy, they've been buyers of crypto

cryptocurrency all year long and that's been one of the reasons we've seen the price go up. i have to ask you. with the possibility of etfs, does that change things for resident investment advisers and how they advise their clients? is this going to become something more mainstream? >> i think it could, particularly for that sort of smaller to medium sized raa. if you're running a kind of small i.r.a. in michigan or iowa, you're probably not thinking you're going to go all in on crypto if your customers are primarily devin activities, lawyers, maybe closer to retirement age, but etfs make it feel easier, safer. you know at the very least there's sort of more guardrails around it. you're probably not going to end up with an sbf-style disaster. i think it could pull into some of that crowd. >> that felt pretty singular, but if there's a style to that, everybody wants to avoid it, sarah. last question, more broadly, if

it gets approved, what does it mean more broadly for cryptocurrency long-term? is this more of a ledgemization of cryptocurrency? does it boost the sector overall long term? >> it's unlikely we're going to see one get approved. we're probably not going to see the favorites if approved. we'll see a basket of them. i think it's a long time coming in that legitimacy. the idea was reached a decade ago. we're at decision day to see if it will happen. a lot of people think it will. i think that's a huge step forward in crypto being more regulated and more accessible. >> sarah kunst from cleo capital. sarah, it is always great to see you. >> thank you. coming up on "worldwide exchange," a one-on-one with the ceo of payment gnt.e.ia w.x we're back after this. business can happen virtually anywhere.

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which may be life threatening or permanent. these aren't all the serious side effects. caplyta can help you let in the lyte™. ask your doctor about caplyta find savings and support at caplyta.com. welcome back to "worldwide exchange." time now for your big money moves. we're starting with shares of lennar. they're moving up 1.25% after the company improved its dividend at $2 a share and also authorized the $5 billion share increasebid buybacks due to

the balance sheet, cash position, and operating strategy. wdfc posted a fiscal increase thanks to other major markets. sales markets of wd's multi-use products lag in europe as customers respond to higher prices. shares of wd-40 up 6.5%. un-tintuitive surgical benefiting from the increase of changes in china. shares of intuitive up over 4.5%. this morning we're also watching shares of w.e.x. the payment processing firm benefiting from the broadening of the market, lower interest rates and higher trucking demand during the holiday season. the freight market is especially

important because w.e.x. gets more than half the revenue processing mobility agents for the largest transport companies. they provide for companies like j.b. hunt, schneider, werner, and ryder. w.e.x. also handles employee benefits, financial institutions and professional services. joining me now on all cnbc first interview, melissa smith. >> thanks for having me. >> what's going on with the payment industry right now? the big part of your business is mobility payments for freight operators. what's giving investors so much confidence in your company in recent weeks? >> we have a really great growth traction record. if you look at the history of wex, we've been consistent about

bringing in new customers and continues to grow the companies we have. we have 800,000 customers globally, 600,000 within the mobility part of our business. i think our track record, you know, speaks for itself. >> your business gives us some insight into the freight market. last year we saw a freight recession that impacted your business negatively. what are you seeing now when it comes to the freight market? >> it's been a rough couple of years in terms of the overall freight market. that's about 40% over the mobility segment. it's a piece of the mobility customers. we've seen it be pretty stable over the last, you know, couple of quarters, and so, you know, entering the year, i think there was a lot more uncertainty asto what was happening, but the stability has been a positive trend. >> another part of your business is corporate payments. that's a little bit more of an obscure business. people like that. what kind of demand are you seeing there? >> that's aninteresting part of

the business. you've got this convergence between software and payments. it's really -- you know, it's a quarter of that where you take a company. they're embedding our payment capability into the overall work flow, so there continues to be really strong demand. within that customer segment we have customers in the travel marketplace that have seen a great rebound from the overall pandemic years, but on top of that, we've seen a disproportional bound of customer base moving volume to us. we've added new customers. i'd say there's an increased demand for those types of products. >> we're going to show some of the customers in just a minute. give us a sense. what does that mean that you're seeing increased demand for what's essentially a white label service -- it's cloud-based but a white payment service? >> it means people are looking -- if you've got another fintech

company that doesn't have payment capability, what they're interested in is taking that capability that we've developed. you know, our capability is global, highly scaleable, and utilizing that to solve a piece of their overall value proposition that they're putting out to their individual customer, and so demand means that our existing customers are contained to seek growth. it means we have new customers interested in product offerings we have. >> can you illuminate some of your businesses? you do health care benefits and benefits for health care professionals. essentially why do the large companies turn to you for this? >> so similarly the larger companies are looking at us as an underlying technology provider. so they're going into the marketplace. they might be white labeling our products and selling them directly into businesses where they're tracking overall tax-deferred accounts. so people come to us for the underlying technology capability

for the up time we have within those customer segments. if you look at the trends there, you've got really great trends, you've got a stable market, a growing market, and rising demand. >> melissa, i don't know if you know this, our show "worldwide exchange" is w.e.x., so it's an odd coincidence. i think of myself as ceo of w.e.x. melissa smith is ceo of wex. up next, we get the buzz on the ground in one of the largest crypto conferences. our arjun kharpal is live. >> reporter: the long awaitsed bitcoin had been approved. i'll bring youorof me the mood

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threatening the critical trade route. and a fake announcement on the s.e.c. social media page over a highly anticipated bitcoin etf creating a calamity. it's wednesday, january 10th, 2024. 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 a half hour with a check on the u.s. stock futures with the nasdaq riding a three-session win streak. the dow slightly lower right now. the accept basically low. we're checking the bond market right now. the ten10-year yield falling ba below 4%.

4% seems to be a meaningful level for the markets. time now for a check on the some of this morning's top corporate stories. silvana is here with it now. amazon's twitch becoming the latest to cut its staff. it will slash 500 jobs. that's about 35% of its work force, this over worries about losses and steam operation costs. the move at twitch comes after job cuts at amazon's gaming division last year. job cuts apparently taking place at blackrock. the largest seattle manager is trimming roughly 600 positions. that's about 3% of its work force with ceo larry fink telling employees the company was adapting to a, quote, rapidly changing environment. blackrock plans to increase head count this year as it invests in technology and new offerings. and tesla officially launching a revamped version of

its model three sedan in north america. the e.v. maker removing the most expensive version of its car from the website, now listing only the rear wheel drive and the long-range versions. prices for those remain unchanged at just under $39,000 and $46,000. while tesla has updated the range for its model 3 from 333 miles to 341 miles, frank. they look pretty cool. >> that's what people really buy the teslas for. let's be honest. the mileage is great, but people think they look great. >> yeah, absolutely. we turn our attention now to another top story this morning. the investigation continues around boeing and its grounded fleet of 737 max-9 jets. in his first remarks since the emergency landing on friday, boeing ceo david calhoun saying missteps created to it. it's led to the grounding of about 137 max-9 planes, calhoun

telling the company in a report yesterday we're going to approach this acknowledging our mistake every step of the way and look at the exact cause of the accident. however, calhoun did not specify what mistake he was referring to. investigators at this point are focusing on what caused the door plug to come flying off the jet at 16,000 square feet. one official said the bolts have not been recovered and regulators will not know if they were in place until the door plug is examined. they're revising its instruction for carriers on how to inspect the max-9 planes. the inspections will delay any effort to get them back in the air any time soon. taking a look at bond shares, they're up fractionally. and you don't want to miss our cnbc exclusive interview with boeing ceo david calhoun at

1:30 p.m. eastern time today. turning back to crypto which has been a wild sector after the s.e.c. x account listed an app approval. in a statement the s.e.c. very quickly denounced the post and said the account was compromised and the tweet was not made by s.e.c. or the staff itself. the unauthorized breach was not caused by a breach of the social media platform. executives are pointing to an unidentified individual who got hold of a phone number on the s.e.c. account. today is the deadline for a key etf approval. more than a dozen companies submitted applications that include blackrock, grayscale, and wisdomtree. joining us from the crypto conference in isn'st. moritz,

switzerland, is arjun kharpal. good to see you. >> reporter: many on the ground said they were at dinner and drinks and saw the etf had been approved. the champagne was poured, cobs popping. five minutes later the cork was popped back in. you saw bitcoin spike. i think it underlines the market is still very excited about this product. they're still bullish. they think it will be approved and they think the etf will bring a new wave of investors into bitcoin and a wave of large ins sttitutional investors. that's something known as the halving. it's a technical event written every four years. this is when rewards are given to miners, and it's slashed in

half. they slide it into the market and keep an eye on inflation. in the past when we've seen halving, bitcoin has often followed a big bull run to all-time highs. the question is does this happen again in the cycle. i spoke to many people this morning and over the past few days who said it's almost certain that bitcoin will hit a new all-time high above the $69,000 level set previously. there are many who are calling also for $100,000 bitcoin call as well. there's not very many bears in the market given the fact we have seen cycles run. the question is bitcoin has never been in an environmental where inflation has been this high and where interest rates have been this high, so will history repeat itself? that's the big question here. really what you're seeing, that big 150% rally last year and to continue this rally this year has been underpinned by those two things. mainly the etf and the narrative around the halving which is

expected in april 2024. back to you. >> i want to ask you more about the halving. you say it's scheduled to happen in april of 2024, april of this year. if the bitcoin etf has been launched by then, what does that mean? does it impact at all? it adds bullishness on the market. historically whenever halving has happened, bitcoin has happened in the month or two after the all-time high. combined with the promise -- we don't know what the demand will be like, but the promise that it will bring in a lot more investors, of course, the eff providers will have to buy more bitcoin to underpin the etf. that's seen as a positive as well. all of those factors combined together is what is getting the industry right now and many investors very excited about the prospects of bitcoin this year. again, i'd have to temper that and say will bitcoin repeat

itself? we're in a very different environmental, but clearly right now the view is that the cycles will continue, that the etf and halving are extremely bullish and will underpin the rally for the rest of the year. >> arjun kharpal at the crypto conference. thank you. turning our attention to another developing story in the middle east, u.s. and coalition forces under operation prosperity guardian as officials describe the largest-scale attack on the red sea. in a statement u.s. central command says no injuries or damage were reported. this marks the 26th attack by the rebel group on commercial vessels in that region since november 19th. theiranian-backed houthis have stepped up attacks on the container ships in the red sea in protest with israel's war with hamas and gaza, the incident coming a day after u.s.

secretary of state antony blinken warned there will be consequences if the houthi rebels continue to assault ships. they've diverted vessels from the red sea to a much longer route around southern africa. there's a meeting today and a vote for a resolution to halt the houthi attacks immediately. let's get more perspective on the situation with helima croft, a cnbc contributor. he helima, it's also great to have you on. >> thank you very having me on, frank. >> it seems that the houthis are undeterred by the u.s. warnings about the consequences and u.s. intervention. what does that mean short term and long term? >> that i do not seem concerned about the consequences. are we going to back our actions?

what steps is the u.s. going to take? as you mentioned, this was the most significant attack involving 18 drones, two cruise missiles, one ballistic missile. the question is what comes next if we keep making rhetorical threats? there has been some discussion that the united states and its allies may attack houthi bases in yemen, and the question is will that deter the houthis or lead to an escalation in their attacks. >> as we both are saying, the houthis seem undeterred by threats of consequences and things like that, the u.n. scheduled for a vote for a resolution. give us a sense. is that meaningful and how is that seen in the middle east? >> i'm not sure a u.n. vote is going to deter the houthis at this stage. the real question is will the united states take more significant military action, targeting their bases in yemen? we have done so before, and the question is will we go o back to that type of tactic. but the big issue is unit yemen,

does this war potentially thread to other theaters as well? we discussed, frank, we're watching the situation on the lebanese border very, very closely. we're watching the situation in iraq very closely. we're continuing to say this is really a three-vector war at this point. the question is, you know, is it just going to be gaza and the red sea or is it going to be something bigger? >> so you kind of led us in that direction, helima. are we on a path? you mentioned some of these other areas where there's tension. if the u.s. strikes back in a meaningful way, could that spark tensions in other parts of the middle east? >> we would have to see. i think the real pathway to a wider war remains lebanon. what's fascinating to me is you have the hezbollah leader coming out sand saying, we'll respond in kind to israeli strikes. but he does not want to follow the houthi path in terms of an all out confrontation.

but the israelis have signals they want it out of southern hezbollah. they want to bring back to northern israel. and the question is will the israelis seek to again push hezbollah back and is that a catalyst for a wider war and then you have to watch what's happening in iraq? we've done strikes in iraq. they have targeted bases with u.s. troops. we've had this tit for tat situation there. could iraq be a place where we see broader conflict with u.s. coming under direct fire with iranian-backed militias. >> i want to get into one of your other wheelhouses? what about the market? >> right now there he's no supply disruption. yes, ships are diverting around africa, adding ten days to the journey. but we've not seen an oil tanker hit. we've not seen any significant

loss of supply. and now they're focusing on other issues, u.s. production, demand concerns, saudi osp cuts into asia and other markets, but i think this is something we have to keep front and center because if this war does expand and if iran becomes involved in a meaningful way, no questions about the security of the straits of hormuz. that's a critical waterway and iranians have struck tankers in that waterway before. again, if it does expand to iran, it's an entirely different story for oil markets. >> last question but certainly not the least, what does it mean for investors? i'm sure you're getting a lot of calls. if you're an oil investor or equities investor that has exposure to the middle east, what does this mean? >> they're really watching to see if this is contained. can secretary blinken and his team come up with some lasting cease-fire? is there a path for, you know, potential reconstruction for gaza? what is the path to

de-escalation? the concern obviously is under what scenario does it get worse? >> helima croft, thank you for your time and your insight. a lot to watch in the middle east. coming up on "worldwide exchange," another firm souring on apple and its outlook for the tech giant stock. plus a massive winter storm s.eating a major problem for the u. including travel across the skies. stay with us. much more w.e.x. coming up. jooings the next level. cirkul is what you hope for when life tosses lemons your way. cirkul, available at walmart and drinkcirkul.com. oh no, a rash. maybe it'll go away. awww, how am i going to find a doctor i'll actually like? is that a qr code? dr. stafford makes you feel at ease. thanks rash! you've got more options than you know. book now.

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. welcome back to "worldwide exchange." redburn expects the iphone to return to growth but it sees a little chance for upside this year. shares of apple right now, they're up fractionally in the premarket. baird hiking bloom energy rating. it sees cost reduction and improvements to the manufacturing process. it's up 3%. and toast says it's not looking at restaurant trends over this year. shares of toast right now up over 5%. it's also time for your global briefing. we start with japan's nikkei moving above 34,000 closing 2% higher. the country's broader-based

topics rallying up 1% and hitting levels not seen in over 30 years. other asian markets moving in the opposite direction. south korea's kospi, hong kong's hang seng and taiwan's weighted companies down. hoping to offset smartphone and laptop chip sales. tsmc expecting a recovery after a trough last year. grifols' stock fell yesterday on an accounts probe by hedge fund gotham city research. gotham is questioning grifols. they're denying any wrongdoing. coming up on "worldwide exchange," the one word investors need to knowand why our next guest says don't be fooled by the market's stumble.

why she says the rally could regain its momentum. if you haven't already, follow our podcast. check out apple, spotify, or other podcasts. more w.e.x. coming up.

welcome back to "worldwide exchange." taking a look at nasdaq 100 gainers, intuitive up 4.5%. along with crowd strike and marvell technology over 1% and nvidia hitting all-time highs. on the other side the nasdaq 100 laggards. fastenal down by over 1.5% followed by sirius xm radio. on sesemiconductor down almost .

boeing's ceo david calhoun talked about the landing and missteps and the grounding of the 737 max-9 planes. calhoun said they'll cover their mistakes with complete transparency along with investigations. you don't want to miss an exclusive interview with david calhoun at 1:30. lennar authorized an increase in buybacks. the home builder attributes it to its strong cash sheet and operations. wd-40 posting higher quarter one sales. sales decline in europe. intuitive surgical benefits from the recovery in china and surging global demand for general surgery procedures. and more than 1,000 domestic

and international a flights in the u.s. have been canceled due to extreme weather conditions. chicago's o'hare topping the lifts of the most cancellations with 109 on concerns about excessive snow and ice, one of the most heavily traveled airports in the u.s. taking a look at futures, with stocks coming off a bit of a mixed session, taking a look right now, we're seeing a bit of a mixed picture right now. the dow hitting the lows of the morning m mor morning, the nasdaq slightly higher. for much more on the trading day ah ahead, let's bring in the lead writer at "the wall street journal" and cnbc contributor. she has a new piece out. it's titled "no fear: investors double down on stocks and bonds." gunjan, it's great to have you here. >> thanks for having me, frank. >> you say investors still have no fear. >> i think we have to look past

the rocky start of the year in the first two weeks of 2024, because when you peel back layers and look under the hood, there are signs people are actually quite optimistic across the stockmarket, bond market, and derivatives market. you're seeing not a lot of fear. people are not turning to the types of trades that would pay out. yesterday you saw the vix slide alongside the accept accept, which is pretty unusual. yields on risky and investment corporate debt have fallen to some of the lowest levels in the past two years. that's a sign people are not that worried about finances of some of the biggest u.s. corporations and they're feeling pretty good about that. >> the vix is at the lowest level since 2017. can i give you the other side of the coin? jeff gundlach out pointing to bearish technical issues. the double top we've seen with

the january highs, that's a bearish signal. he think it's a terrible time to be in the market. what are you seeing that he's not seeing? >> it's really interesting. i think what we saw over the last two weeks heading into 2024 is the violent rally, and that was everyone in the market seemingly rushing to the soft landing side of the trade. i think we're about to see a huge test for that and that is one reason to be cautious, right? we have wcpi tomorrow morning. we have ppi. we have earnings from some of the biggest banks. they've gotten bigger than ever. they're going to give us a really good read on how american consumers are doing. i think that's some of the reason we're seeing people be cautious in trading this week. let's not forget the bond auction. the 30-year tomorrow. that seems to be the hottest market event out there right now. >> with all that in mind, you mentioned some of the big things. earnings kicks off. with all that coming up, give us a sense how you see today

shaping up? what's your w.e.x. word of the day? >> my w.e.x. word of the day is wait and see because of the cpi deal. people are afraid to put on some big positions, big trades ahead of that data because it's going to test whether wall street's soft landing dreaming are going to come true. we had that jobs landings which did show u.s. companies are hiring at a really robust pace. it kept the soft landing thesis intact and now we're going to have a big test of that this week. its ooh is one of the last inflation reports before the next fed meeting. >> it's not a word. it's a phrase. it's like that commercial. you bundled them. >> it's hyphenated. i thought hyphenated was okay. as we look ahead to earnings estimates, they've been declining. they've been cut in half over the last few weeks from october 1st to december 21st. we're getting a new read outon q4 estimates, but what do you

make of that decline? snu it's been a really remarkable decline. analysts are expecting 1% or 2% in growth and profits. that's way down from the 7% or 8% they were projecting weeks or months ago. i think one sector to really keep an eye on in terms of earnings is tech. the number one thing i was hearing from analysts and investors going into this year is we think the rally's going to broaden. i'm sure you've heard some of the same things. what do we have this week? we see nvidia hitting an all-time high. so that makes me really question those assumptions about which sectors are going to outperform during earnings season and over the next few weeks. that's one of the biggest things to keep an eye on. it's interesting to see the nasdaq futures outperforming dow futures, russell futures, s&p 500 futures. something to watch. >> you're watching tech in general. it's great to see your new article out today. give me the headline.

>> "no fear." >> that's going to do it for us on "worldwide exchange." as we mentioned futures are a bit mixed. "squawk box" is coming up next.

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good morning. we're watching the price of bitcoin after a hacked s.e.c. social media account falsely posted that those etfs had been approved. details straight ahead. every detail matters. that was the message from boeing ceo dave calhoun to workers in response to the incident last week that grounded the company's 737 max-9 planes again. and the u.s. navy tells cnbc

the houthis have launched their biggest attack on the red sea. it's wednesday, january 10th, 2024, and "squawk box" begins right now. ♪ good morning, everybody. welcome to "squawk box" here on cnbc. we're live from the nasdaq market site in times square. i'm beck request quick along with joe kernen and andrew ross sorkin. here we go. u.s. equity futures are showing a little bit of a weakness of the dow. this comes after a down day for the dow and s&p. nasdaq finished with some gains. this morning s&p futures up by 2.5, the nasdaq futures up by 46. if you want to take a look at the treasury yields it