it is 5:00 a.m. here at cnbc global headquarters and here is your "five@5." we start with stocks slipping from all-time highs from the fresh batch of fed speakers as the markets hit the midway point of earnings season. and stocks in china surge on stimulus hopes. why the headlines are gaining traction with investors. and getting past the credit suisse mess. ubs rewards shareholders with the $1 billion share buyback

promise. and top regulators on the hot seat on capitol hill. later in the show, cnbc's latest youth and money poll is out this morning. we will tell you about the surprising number of millennials that say they are sticking with cash over stocks. it's tuesday, february 6th, 2024. 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 the hour with the check of the u.s. stock futures after a mostly down day for stocks that saw the major indices slip from the record highs. we are looking at the s&p flat. dipping in the negative territory a short time ago. the dow looking like it would open 70 appo0 points lower. nasdaq in the green. the big driver is earnings as we hit the halfway point of the

earnings season. chipotle, ford and eli lilly all reporting today. we are checking the bond market this morning as we await fresh comments from a number of federal reserve officials today. mester and kashkari. the ten-year yield at 4.15. it moved up 20 basis points in february alone. we are looking at the oil market this morning coming off the first winning session in the last four. this morning, looking at the action in the oil market. we are jumping ahead here. oil is flat. we we want to move on. we have a busy morning overseas with jp ong in singapore. a big day for chinese equity. >> reporter: good morning, frank. it was a huge day for chinese stocks whether in shanghai or hong kong. a picture tells a thousand

words. the chart will tell you two things. you saw the indices hit the lowest levels in five years. at the tail end of chart, you see the pick up of the csi 300 jump and the hang seng and hong kong ending the day on the highs as they are stepping up efforts to shore up the equity namarket in china. why does this have more impact on markets in china over what happened yesterday? if you are a basketball fan, it is akin to a full-court press. regulators are stepping up short selling and trying to stabilize the markets. you had a report by bloomberg that president xi jinping is preparing to meet with the regulators in china to discuss the state of the soft market. signaling that the president is taking this seriously and is

pledging action. perhaps the more concrete measure that is supporting this is the central wage investment has gone into the markets and expanded the scope and exposure and starting to buy up more exchange-traded funds in mainland to support the markets. they said they prepare to expand and prepare to do more to try to stabilize the markets. so far, this is impacting the markets positively today. there is a concern if there is more reason to fund the market. it is good for the chinese markets, but tomorrow may be a different story. frank. >> thank you. time to turn to europe with two companies in focus with joumanna bercetche live in the london newsroom. good morning. >> that's right, frank. the first stock we are looking at is ubs which is down 2.4% in trading.

the bank booked a net loss of $279 million in the fourth quarter amid the collapse of credit suisse. they would commence share buybacks. the ceo give us his take on the next steps. >> i'm confident we have a good plan and the risks are well managed. if you ask me about what can go wrong is timing in delivering the synergies. turning to the energy sector, bp is at the top of the ftse 100 today after posting $3 billion for the fourth quarter earnings. the energy giant raised distributions announcing plans for $3.5 billion in buybacks in the first half of the year and 10% dividend boost. investors are reacting positively to the announcement

of the share buyback and it is larger than expected. giving a boost this morning. frank. >> joumanna, thank you. turning attention back home to the markets here. the s&p falling from its record high as long-term treasuries posted the biggest two-day losses since back in 2022. comments from jay powell triggering the selloff as investors look for higher for longer rates. joining me is kevin caron at washington crossing advisers. >> good morning, frank. >> the market is looking at the higher for longer environment. if your mind, what is the biggest concern for investors? >> i think the concern is that the situation is actually quite good. we are starting with a market valuation in the united states at $52 trillion. and we're closing in on 5,000 on

the s&p 500. it was just about 30 years ago that the index stood had a very markets and that attributed to the strong market. if you look at where we are today and take credit spreads, the difference between the yield on a corporate credit and treasury, that's very tight. if you are looking at stocks or bonds, markets are priced rich in anticipation of good things to happen. anything that goes wrong presents a challenge. >> it is basically price to perfection. only room to go down from here. you share your 2024 equity playbook. one is expect lower returns. you were spelling that out right there. also focus on quality and durability. pick entry and exit points. a lot of areas in the market with big gains last year. is this is an attractive exit

point? >> those three points gets to the idea of stock picking. we had a strong move in the equity markets overall. what we are looking for are companies that are going to be able to withstand a difficult five-year stretch ahead. at washington crossing, when we look at stocks, we want to own them for a longer period of time. all we are saying is given elevated multiples and given the fact that valuations are stretched, we want to make sure that if something does change, that we're able to withstand difficult times. stock picking is focusing on quality. >> you are looking to hold for a long time. i want to bounce something off you. the latest cnbc youth and money poll out today. it is tracking where young people are putting their money to work. 22% say stock market.

7% in investing. 17% in investing in real estate. and 53% holding cash. what does that tell you that young people say they want to be in cash? >> it tells me that you've got a yield now in a checking account or savings account that is competitive with stock returns. if you look over the last 15 years, there was no alternative to owning stocks, really. there was no interest rate. now we have higher interest rates, this is attracting capital out of risk assets into bank accounts. perhaps there is some concern that valuations are a little too high. perhaps those together suggest to me there may be a little bit of caution mixed with the ability to earn a return. >> focus on quality. kevin, thank you very much. >> thank you.

we turn to the market flash for you now. cisco and nvidia this morning announced a partnership on artificial intelligence infrastructure. nvidia with gpus and cisco will provide the equipment for cloud and on-premise a.i. infrastructure. it will be sold through cisco sales channels to help enterprises run llms for workloads. shares of both companies with nvidia moving up 1.5%. cisco up .50%. a lot more to come on "worldwide exchange," and one word that investors need to know today and why your big money movers like palantir are moving ahead of the open and the top regulator for boeing is on the hot seat today for the top 737 max supplier. phil lebeau is here live next. later on in the show, shunning an ev strategy for gasoline and hybrids. why the choice of the big three yoy want to take a page from

tota. a very busy hour still ahead when "worldwide exchange" returns. stay with us. i can make this work. it can help you reach them with confidence. no wonder more than 9 out of 10 of our clients are likely to recommend us. ameriprise financial. advice worth talking about. awkward question... is there going to be anything... -left over? -yeah. oh, absolutely. (inner monologue) my kids don't know what they want. you know who knows what she wants? me! with empower, we get all of our financial questions answered. so you don't have to worry. empower. what's next.

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welcome back to "worldwide exchange." time for your "big money movers." palantir shares are up 18% after blowing past profit forecasts. revenue growing 20% year over year. the company benefits from what it calls artificial intelligence demand. i spoke with the ceo alex karp

who said this is a tailwind for the government work which is lumpy. karp said the leadership of china, russia and iran are kwaun take quantitative. given gdp growth in america, america will be stronger tomorrow than it is today. shares of palantir up 18%. shares of chegg offering disappointing guidance as more students rely on artificial intelligence for help. shares of chegg down 9%. nxp semiconductors are moving higher showing beats across the board with the 1% pop in revenue. the strong results showing healthy free cash flow generation in the challenging chip market. shares up 3%. turning to washington now.

a developing story as we continue to watch the fallout from boeing's midair door panel blowout. the top regulator is in the hot seat in what is a closely watched testimony before the cour house transportation committee. we have phil lebeau joining us with more. >> reporter: mike whitaker will testify on capitol hill in front of the house committee. first, it will be what oversight the faa has provided and continues to provide boeing in regards to what happened with the alaska airlines door plug ripped off the flight a month ago. when you see mike whitaker on capitol hill, he will talk about three things. he will talk about the safety culture audit which started a few days after that incident. he will go down the list of steps they have taken. add the inspectors between boeing and spirit. production is now limited by the

faa. in other words, boeing cannot increase production. in fact, when you look at 737 max production, not only is it limited, but boeing found out over the weekend that it may have to delay some deliveries of some of the max in production because of the issue that was flagged by a primary supplier spirit aerosystems. shares of spirit report q4 results today. it is the conference call at 11:00 a.m. eastern time. you can bet pat shanahan will get a lot of questions about the changes that need to be made at spirit because this usissue flagged over the weekend is the latest in a string of problems that have cropped up in the manufacturing process at spirit. that's at the root of the number of problems at boeing. take a look at shares of boeing. remember, the max capacity right now is 38 per month.

the company was planning and target is still out there to get up to 50 per month in 2025 and 2026. one of the things we will talk with mike whitaker this morning when we head to the faa headquarters. don't miss that coming up shortly after 7:00. let's to discuss with mike before he goes to capitol hill. he will face tough questions if the faa is tough on boeing or if it needs to go further. >> phil, a big interview at 7:00 and big day on capitol hill as well. do we have a timeline for the ntsb could be finished with the investigation into the door plug blowout that made headlines? >> reporter: we don't know when it will be finished. we believe it will be close. it is not long before they have an initial conclusion into what happened there. remember, there have been a number of reports already and the ntsb is not commenting on the reports.

a number of reports that it was boeing staff members who failed to put pins back in the door panel before it was sent off to alaska airlines. those are reports that have not been confirmed. we asked boeing about it. boeing has no comment. ntsb has no comment. the initial report is the next big mark in the whole timeline of what's happening here that people want to see. >> phil, great to see you. ahead here on "worldwide exchange," we dig into the data center stock surge and why generative a.i. could drive the stocks even high. st wh . na 's bounty hair growth. clinically shown to help grow thicker, fuller hair with just one capsule a day of advanced hair complex. conquer hair thinning... ...and fall in love with your hair all over again. only from nature's bounty.

welcome back to "worldwide exchange." there are a number of under the radar beneficiaries of a.i. stocks here. we have pippa stevens with more. >> chips are what come to mind with a.i., but behind a.i. is data centers and behind data centers is the power grid. electricity consumption could double in the next two years topping 1,000 terawatt hours by 2026 according to the iaea. it is equal to all of japan's power consumption. for the u.s. specifically, bcg

estimates electricity for data centers will be the same as power for 40 million households annually. that's going to require new power sources and updates to existing infrastructure. morgan stanley saying the rapid growth is not well understood or priced into a number of stocks. power providers aes and nextera energy are stating that growth is quote explosive at this point. there is electrical equipment makers as well as power management providers. the boughttom line, frank, this extends beyond nvidia and meta of the world we talk about. >> we do talk a bit about those. pippa, i want to ask what is the demand spike for a.i. and data centers and what does it mean for the grid? >> it comes as the grid is under

pressure as more things go electric. electric vehicles and heat pumps. for the first time in many years, electricity demand growth is already accelerating before we think about what gen a.i. and new data centers means for the grid. it comes as the grid is increasingly faced with extreme weather events. we have seen a spike in power outages across the country. in california after that record rainfall, specifically. the grid is becoming more distributed. think about the ev batteries on the road and consumers getting rooftop solar, the grid is no longer a central behemoth. the demand growth is coming as the grid shifts and that means there will be a complete reimagining of the grid going forward. >> pippa, always great to see you. time for the check on more of the headlines with nbc's

frances rivera in new york with the latest. >> good morning, frank. we begin with breaking news. country music star toby keith has died. he opened up about his battle with stomach cancer in june of 2022. keith passed away peacefully surrounded by his family. keith fought his fight with grace and courage. keith's career spanned decades. known for "should have been a cowboy." toby keith was 62 years old. now to the west coast which is still feeling the impact of the powerful atmospheric river. southern california is still facing threats of serious flooding and mudslides. there are new concerns about safety in the race for the white house. nikki haley's campaign has requested secret service

protection. haley has faced increased threats. her home in south carolina was also the target of two recent s.w.a.t.ing attacks. the secret service has not responded to say request for comment. frank, you are up to date this morning with the news headlines. back to you. >> frances, thank you. here on cnbc, we continue to celebrate black heritage as well as progress on wall street. int there has been an increase of black executives on wall street since 2019 overall. on the other side of the coin, the war in dei is impacting programs that fuel that increase. that includes non-profit wall street bound. a troubling change in commitment from partners and would-be partners. >> as a non-profit, it is not only a threat to funding, but from our ability to get at these students with opportunities into seats and jobs. >> many companies are trying to

figure out their legal risk. in august, activists at blum filed a lawsuit and focuses on black female startups is guilty of discrimination. that case is still in court. >> we have already seen the financial impact of the lawsuit on us. we have had somewhere upwards of eight figures of potential commitments being removed just due to litigation. people have dropped out left and right. >> the supreme court decision against the affirmative action is another risk factor. the black economic alliance released a tool kit for companies to reevaluate the dei strategy. ceos are telling him they are not eliminating, but rebranding the dei programs. >> right now, people feel like let me step back and reassess. not everybody. some ceos have called us and said we will plow ahead.

some want to reassure us because they made commitments to us. however you have to do it, call it what you want to call it if the work is getting down. >> mlt, one of the largest, told me they see a shift in sentiment. they saw a 60% increase of student job placements which include the top five wall street banks and big tech like apple and nike. it appears that dei is under scrutiny, but companies committed to diversity are finding ways to overcome the challenges. and coming up on "worldwide exchange," the latest on the ti ticketmaster lawsuit. more "worldwide exchange" coming up after this.

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it is 5:30 a.m. in the new york city area. there's a lot more ahead on "worldwide exchange." here's what's on deck. stocks looking to get back on track as earnings season hits the halfway point and concerns over a strong wave of results. futures are fighting for gains. automakers among those reporting quarterly figures. toyota is out this morning. ford is next. looking at ev ambitions and questions over their road ahead. and shares of super micro continue to take off as one company insider snatches up

shares in the signal of confidence. it is tuesday, february 6th, 2024. you are watching "worldwide exchange" here on cnbc. welcome back to "worldwide exchange." i'm frank holland. let's get you ready for the day with the check on the u.s. stock futures. the dow moving to the down side. hitting the lows of the morning looking to p open 100 points lower. the nasdaq is firmly in the green. we are checking the markets over in asia. stocks in china rebounding in a big way on beijing's announcement of efforts to stop the slide in equities, including the state fund of the goal of boosting stock buying. we have notable action in the pr pre-market to the down side.

falling short of estimates with softness in crown holdings. science company showing a weak 2024 outlook. symbotic is projecting second quarter core earnings below estimates. one part of the market not showing signs of lowslowdown is tech after a strong earnings from six of the magnificent seven stocks. key to the reports is the recovery of the digital advertising market. meta growing by 24% and amazon by 27% and alphabet by 11% boosted by the strength of youtube. we will hear from the ad spend with spotify and snap. let's discuss with our analyst

from rbc capital markets. brad ericsson is with me. >> good morning. >> with the recession fears seemingly behind us, do you expect that trend to continue especially for reports for s spotify and snap? >> i think in general, you know, with snap, they are a smaller company. i think there are more things that can happen to move numbers one way or the other. you laid it out well. digital ads are growing strongly right now. we do channel checks with a lot of ad agencies across the country and spending in january came back as strong as they have. for the moment, demand is going well. it is the function of the consumer which is the underlining source of that. for the moment, it is all clear ahead. >> again, i want to look at

spotify and snap. do they compete with the mega cap tech companies or do they have a different ad business? >> yeah, it is a little bit different. unfortunately, i only cover snap. i can't speak to spotify. most of meta's advertisers are smaller. there is a mix of large and small. snap, because of the way they can target which is to say not as well as meta and google and they don't know what value they drive, so when somebody clicks on an ad and buys something, snap doesn't know it as meta or google does. they tend to work with some of the larger advertisers. that's why i say it is a harder one to know because if a few of those guys come in or china

vendors come in, they he can mo the needle. >> in-app shopping with instagram and facebook. how does that impact ad spend? >> i guess in a few different ways. first off, you know, it's a type of ad unit where you are getting a direct link and staying on the platform on instagram or tiktok or what have you and you are buying in the app. the data is proven that the ads do convert at a significantly higher rate than a traditional fee-generated ad that shootsyou to some other web site. that's great. on the other hand, a lot of people have trust issues with that particularly with tiktok just not being a company from this country. you know, the frequency of those clicks tends to be lower.

they are higher productivity ad units. it is a priority for the platforms. i think tiktok is targeting high numbers. it is an important part of the digital ad shopping experience for the future. >> speaking of digital ad shopping, give us your top pick with the digital ad space. >> i would say a few. there are probably three in the group. we laid out the year with amazon being our favorite in mega cap. we felt like people were going to want to chase the ad business as well as aws and retail profitability. we also included meta as not a top pick for the mega cap, but a name we still like. we are most intrigued at them getting into the cloud business which is something we think softly came out on the print. lastly, pinterest. pinterest is a platform that everybody knows and probably loves. they haven't made it shopable

over the year. new management has come in and they are making it more shopable with direct links to more easily buy products. they are bringing amazon in as a partner. there will be new products relevant. we like that. >> brad, i like the hoodie. you are embracing the tech vibe. >> west coast. >> amazon and meta and pinterest. thank you. let's get a check of the top corporate stories with bertha coombs. bertha, you wearing a hoodie? >> no, but i'm thinking i might go grab one. i have one that goes with this. good morning, frank. the justice department reportedly is ramping up the anti-trust investigation into the livenation ticket disaster. the company sent request information over fears the company is not cooperating. the doj is focusing if live

nation uses anti-competitive agreements with venus and a artists. shares of rtx is revealing it is under investigation by u.s. regulators over the recall of hundreds of pratt & whitney engines. the supplier received subpoenas from the s.e.c. it is cooperating with the investigation over the probe on manufacturing which led to costly recalls of the engines last year. and shares of super micro adding on to yesterday's 14% jump following a fresh insider buy. according to a regulatory filing, board member fred chen buying up 2,000 shares for over $1 million raising the value of his stake in the company to more than $28 million. chen's purchase comes as shares

of super micro, a partner of nvidia, surged 700% in the last year. that is not a typo, frank. 700%. >> bertha coombs, thank you. we will move to another earnings mover. toyota jumping 5% in japan today as third quarter earnings beat the forecast. the company raising profit guidance for the year as it continues to benefit from the weaker yen and strong sales of higher margin cars and hybrids. the positive forecast from the world's best selling automaker is in a sharp contrast from rivals. others are warning of production cuts because of slowing demand for electric vehicles. that includes ford which reports after the u.s. close today. let's talk more about autos and the future for evs with stephanie brimley. >> good morning. >> we had toyota report its

earnings. world's biggest automaker. what did we learn from their report? a business where they haven't made the push into evs, but a strong hybrid business. >> they do have a strong hybrid business, particularly in the u.s. they are pushing that hard and they have that opportunity. electric vehicles in the u.s., that demand is not as strong as what was expected in 2022. what we are seeing is a transition from a mainstream buyer to a pragmatic mainstream buyer is taking longer than people really wanted. for toyota, the emphasis on hybrids along the internal combustion engine means they are protected from the stress of the system and in the u.s. with one electric vehicle or two electric vehicles from toyota. one from lexus and one from toyota. it is a lower part of the market

and sales. they are strong in hybrid as we talked about. if we look at other hybrid or ev makers, tesla is still making money, but the profit margin has gone down. if we look at ford, they come out later today, and they have signifi signalled they will not make as much off the electric vehicles. >> we're talking about electric vehicles, but to be clear, there are two types. battery electric vehicles, bevs and plug-in hybrid called phevs. >> as well as regular hybrid vehicles which don't require you to plug in anything. you go to the gas station like normal. the consumers are still -- >> a few things. >> it is a complicated scenario. >> it is compliccomplicated. i want to get down to the bottom line with battery electric vehicles. bank of america out with data

yesterday. they said 2023 was the biggest year ever for battery electric vehicles. they said global sales spiked 30%. in the u.s., we out paced at 47% growth. europe with 33% growth. are these concerns that electric vehicle adoption is not happening overblown? are they not meeting expectation, but still moving at a good pace? >> they are growing at a strong pace. it was over 1 million units last year in the u.s. it will continue to move forward. the question has been how fast. some of the targets and social policy changes that we are looking for more share of the electric vehicles is 2030 targets. this transition from the internal combustion market to battery market will take time. there is still consumer education that needs to happen and it will not happen in the

next minute. i think 2024 and 2025 will continue to see increased volume, but it might not happen as fast as expected in 2022. >> more to talk about. i wish we had more time. it is a bit complicated. stephanie, great to see you. thank you very much. >> thank you. we have another market flash on taiwan semi announcingit will build a second plant in japan. toyota will take a minority stake in the facility and bring the total investment to more than $20 billion in the couple t country. coming up on "worldwide exchange," two earnings reports and two very different stock reactions. the fee factors fueling big swings in ubs and bp shares. stay with us. more "worldwide exchange" coming up. complexity. healthcare payments are filled with it. wasted time, inadequate resources. confusion about the cost of care and how to afford it.

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reduction program to support expansion and attract earnings growth. shares of u.p.s. up 2.5%. and deutsche bank upgrading li auto to a buy. shares of li auto up over 8.5%. time for the "global briefing." back to ubs as it was hit by the takeover by credit suisse. the bank will resume buybacks this year after the first phase of the integration. last year, ubs stated a buyback after the credit suisse deal. bp earnings beat forecast thanks to strong gas trading. it is committed to returning $3.5 billion to shareholders in the first half of the year.

australian central bank keeping rates on hold as inflation in the country cools. the rba warns future rate hikes cannot be ruled out. weaker consumer spending hurt the economy. the hawkish tone boosting the aussie dollar. coming up on "worldwide exchange," one word that every investor need to know and grading earnings season at the halfway point. how the concerns stack up. during february, cnbc is celebrating black heritage. here is intel executive vice president and chief legal officer april miller boise sharing her story. >> my maternal grandmother was one of six sisters from columbia, south carolina. we called them the lewis girls. they were fiercely independent women. i really, because of them, grew up believing i could be anything

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welcome back to "worldwide exchange." it is time for the "wex wrap-up." the head of boeing is set to testify to the committee on capitol hill today.

mic michael whitaker will join us at 7:00 a.m. this morning ahead of the testimony. shares of l 'occitaen considers buyout. you see shares up 7%. tech under pressure after weak guidance for chegg. shares down 7%. nxp highlighting free cash flow generation with shares up 3%. cisco and nvidia is teaming up for large language models for cloud and on-premise infrastructure. shares of both companies popping on that news. earnings set to be a key driver today as the wave of

quarterly reports move into the second half. bob pisani shows us more. >> we are at the halfway mark for fourth quarter earnings and there is good news and bad news. the good news is fourth quarter earnings so far are up 8% over the same period the year before. that is twice the estimate of a month ago. here is more good news. 880% of the companies reporting are beating estimates so far. that is average. here is the bad news. earnings dprgrowth is concentra in technology and communication services which is driven by strong earnings from meta and microsoft and amazon and expect strong earnings from nvidia. others are not faring well. energy stocks with lower demand for oil from china and plentiful global supplies which is weighing on the price of oil and also weighing on oil company earnings. ou outside of the magnificent

seven, aggregate are contracting. back to you, frank. >> for more on that and the trading day ahead, let's bring in david katz at matrix. david, great to see you. >> good morning. >> bob was spelling out that a lot of the earnings growth is coming from the mega cap tech companies. is that concerning for you? >> it is not. the market generally is a discounting mechanism. right now, earnings are light for the majority of the s&p. however, if you look ou out 6-to-12months down the road, those companies are doing well. the s&p is about 20.1 times earnings. if you take that out with the magnificent seven, it is 17.2 earnings. if you look at the russell value, it is 15 times earnings.

there are lots of opportunities out there and you are not getting growth right now. it is time to buy them here. >> with that point of view in mind, i want to get a sense of how you see today shaping up. what is your "wex" word of the day? >> frenetic. any points in companies with individual earnings are sending stocks higher. same with lowering rates. expect a lot of volatility. the key for investors is to take a longer term view of the stock market and try to buy the dips and not chase the rallies. >> speaking of the view on the stock market, we have a cnbc generation lab youth in money poll. those polls were asked which they would invest in. apple, amazon and tesla are their favorites. none being picked. you see none on the bottom right

there on the chart. what does that tell you? >> we think individuals have chased what has worked and what has worked in a huge way is the magnificent seven. the exciting stocks are technology. we think a lot of that is priced into the companies. we think you can look beyond that. it is not popular right now, but stocks will do well not in the group. >> david katz, we have to go. one pick was fedex. i hoped to talk about it, but great to see you. that will do it for our "worldwide exchange." one more look at the futures before we let you go. the dow is off the lows of earlier. the nasdaq hitting the highs of the morning. "squawk box" is up next.

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good morning. stock futures are mixed after 275 point drop for the dow yesterday, but stocks in china surged overnight on speculation that the government could further intervene to prop up that market. the faa has completed its inspection of most of the grounded 737 max 9 planes and approved the return to service. ceo mike whitaker will join us. shares of palantir are higher driven by demand for

artificial intelligence. it's tuesday, february 6th, 2024. "squawk box" begins right now. good morning. welcome to "squawk box" here on cnbc. we are live from the nasdaq market site in times square. i'm becky quick along with joe kernen and andrew ross sorkin. the futures this morning are a little bit mixed. the dow is down 75 points. you have the s&p relatively flat. nasdaq indicated up 40 points. you did see all three of the major averages pulling back yesterday for the first time in three sessions. treasury yields are around the same level we were looking at yesterday. you see right now that the t ten-year yield is 4.15%. the two-year yield