headquarters and here's your "five @ 5." we start with cut the junk the stock is sinking to its lowest level in 30 years. also a sports super streamer, disney joining forces with warner brothers to create an all-new platform and what's being seen as a massive industry power play. and snap sinks shares of the social network plunking ahead of the open on a top line miss and a disappointing forecast. plus stocks in china extending their gains in what could be a possible sentiment

shift that favors beijing. later, tracking the transport stocks and the names that have more room to run it's wednesday, february 7th, 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 you day. we kick offer the hour with a check on u.s. futures. the ma i superior indices posted their third positive session in the last four. taking a look right now, you can see it's in the green across the board. the s&p solidly in the green however, there is nothing modest about the dow transports coming off a 2% gain yesterday, we have a check-in with bank of america and the names and the space with more runway coming up we're also checking the bond market featuring the lives of

tom barkin and michelle bowman take a look. the 10-year at 4.1 this morning. the rest of your morning's setup, a big story we're watching this morning, shares of community bank closing at the lowest level in nearly 30 years. shares lower again this morning. you can see much more on this in just a moment. now we want to turn to shares of snap, getting cut down to size in the premarket on a very rough earnings report with a top line miss and very weak outlook. cnbc technology correspondent arjun kharpal with much more on the story. good morning. >> good morning. snap reporting earnings for the december quarter of 8 cents, beating market expectations. it was the company stock plunging after hours, however, on the company's first quarter sales guidance, which at the mid point was around $1.1 billion, lower than wall street expected. snap attributed some of the weakness to the israel/hamas war. snap's revenue grew just 5% in the quarter.

that was also much smaller than meta, for example, which saw a 24% year on year rise in its ad business it's highlighting how the bigger players like alphabet, like meta are drawing in the ad dollars in as the recovery and the ad industry begin to take hold. as it searches for new revenues, snapchat plunged they disclosed figures for the first time in 2023 they had an annualized run rate with 7 million subscribers the bigger question here, i think, about whether snapchat has lost its cool as it faces rising competition from tiktok the products aren't the same, but they certainly target a younger audience with a focus on short video. all of these concerns appear to be overhanging the stock right now, which is down more than 30% in premarket trade, frank.

>> so, arjun, we're looking at some of the other social media stock. do they have a similar model when it comes to ad revenue? is that why we're seeing them decline? we got earnings from o the others and we didn't hear the same headwind of the israel/hamas war. >> absolutely. i think the big difference is the size of meta and alphabet. you think about meta, it's facebook and alphabet and google, with snap, and with pinterest. it's one product with a much smaller user base. the ad market is in the early irnings of a recovery after a difficult 2022 and modest 2023 there are expectations 2024 will be a better year what we're seeing is the ad dollars are flocking to the huge platforms where i think advertisers feel they're going to get a better return on their

investment perhaps the ads will be more targetted than some of the smaller platforms. >> arjun kharpal great to see you as always. time to get to another one of these top quarter reports our bertha coombs is here with that story bertha, good morning. >> good morning, frank yeah, this is like a mega streaming network. disney, warper bros., and fox are looking at giving viewers new way to watch sports for the first time ever. we don't know how they're going to price it or the name of the new service yet, we do know that disney, fox, and warner discovery will each own a one third stake in the platform, which will be run by a newly formed company with its own leadership team. customers will be able to sub skriep directly on a forth coming app, but they'll be able

to bundle it with disney, hulu plus, and max accounts among the networks being represented, espn, abc, tnt, tbs, and fox sports s 1, notabl absent that's going to put them against cbs and our company nbc. that's going to be a lot of competition when you look at amazon and apple looking for streaming rights in sports it's going to be interesting to see just how much they're going to pay up for those rights, frank? >> i think it's why they call it the streaming war. certainly a developing story we're going to keep our eye on it great to see you. turning now to another developing story community bank shares are tumbling this morning. there was a surprise loss and set aside more cash to cover more bad loans in commercial rae. now moody's is cutting long-term

ratings to junk status they say it could create, quote, potential confidence sensitivity. mod in response nccb says it's not expected to have a material impact and the deposit ratings are still of investment grade. they're bringing in a new chief and risk officer as of monday. they lost $83 billion in deposits earlier yesterday janet yellen said some banks may come under pressure with lower demand for real estate, but regulators are focused on helping them manage that risk. >> i'm concerned i believe it's manageable, although, there may be some institutions that are quite stressed by this problem >> joining me now, chief market

strategist great to have you here in studio. >> thanks, frank. we laid out some issues with new york community bank. i want to ask you, are you concerned about financials possibly being a problem >> we knew this with was a problem in the offering and the reason is regional banks are disproportionately exposed to commercial real estate we haven't seen this credit cycle yet play out but the truth is over the course of the next year, about $560 billion in commercial state loans are coming to maturity, s we should expect some stress, but i wouldn't look at it as a financial crisis it shakes confidence. >> we heard jerome powell say the same thing he believes the financial sector is pretty strong i want to talk about the markets. you gave us your s&p target. your s&p price target is 5,000, that's like a half a percent rise from where we are right

now. at the same time, you think the bench mac is going to go down. why do you think the market is moving sideways? >> i think it's about economic growth we have economic growth decelerating from 2.6 to 3.6 i have it developing strongly this year. so under that scenario, the fed likely cuts. i think the market does trade flat and i think the markets currently are discounting certainty when there's elevated uncertainty. i think there's tail risks here that are very fat in their nature. >> you think there's some uncertainty going forward. obviously the fed has a big impact on the market you think there's 100 basis points in cuts, but that doesn't give a broader boost that's the part i'm a little bit

confused about. >> if 2024 turns out to be a repeat of 2023, then we should expect the s&p to break out. i'm talking big breakout. >> you don't think that's going to happen. >> but the fed doesn't cut a hundred basis points under that scenario remember we were expecting 75 basis points in cuts didn't happen and didn't matter because the economy group 2.6 to 3% same thing repeats this year and we get immaculate disinflation if that double occur, i think economic growth decelerates. i have a recession risk of 40% that's double consensus. i don't think that that tech continues to lead the way, and i prefer defensive sectors like utilities and staples, health care and energy. >> 40% that's a big contrarian. >> yes, it is. >> kathryn rooney vera, hope to have you back. we have a lots more coming

up stocks in china try to bounce back why a possible sentiment shift could be in beijing's favor. and call it a bronchoboost, what's expected to be a big day for ford as stocks surge. and streaming power play we ee gore to speak with one investor that's long on the stock and what could impact it in what's been kind of a struggling year for bob iger and company. we have a very busy day ahead. stay with us

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welcome back to "worldwide exchange." shares of ford are moving higher four-year guidance beating estimates. the automaker is planning to add differ accidents of 18 cents a share in addition to 15 cents a share. shares of ford more than 6% higher. e.l.f. shares rising guidance for a third time in a row. e.l.f., which caters toward aga gen z and gen alpha. fv is adding it's beginning to see the benefits of its tur aund plan shares down more than 8%. as we head to break, we're

taking a look at futures we're seeing the trend reverse down fractionally, but still in the red. the nasdaq firmly in the green we're going to have much more "worldwide exchange" coming up after the break. stay with us (♪♪) the first law of thermodynamics states that energy cannot be created or destroyed. (♪♪) but it can be passed on to the next generation. (♪♪)

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business across africa ihs's stock has fallen nearly 30% since mid-january when it reached an agreement with a large shareholder over board election nominations they affect over 40 towers it includes mobile networks and broadcasters joining us is the ihs ceo. great to have you here. >> good morning, frank how are you? >> i'm doing great let's talk about this deal it with is a giant imdian telecom company, but you're doing the deal out of africa why are you so focused on business when it comes to telecom and emerging markets >> look, thanks for the question, frank. first of all, barky is one of the largest. they're present in india and all over africa.

covid aside, people want to set aside their cars and vacation plans, but thaw want more phones, more communications. that's become a basic human need everyone wants their phone, whether you're in africa, transylvania, united states, germany. everyone wants their phone, everyone wants to downstream, play video grams, everyone wants to track on that phone it's kind of basic human need. now, africa has 1.5 billion people, frank. africa is adding roughly 30 to 40 million newborn babies a year that's the size of texas or california, a year, and we're still in the 4g cycle. we still haven't moved into 5g it's almost inexistent, so the growth -- the potential for

growth is massive. that's evident they want to expand the network in nigeria, and we are the backbone of african telecoms. >> so you're saying there's a lot of growth in telecoms. but i want to look at the global environmental. right now we're in a higher environmental pretty much all around the world as we expect these central banks to ease, is that going to create more opportunities for you >> definitely. it's been hard for our markets because, again, as you said, when interest rates thrive in the u.s., they get pulled out into safer environments and to thinks like that so it's been tight, but, yes, even with the tightness we're seeing, when the fed starts loosening up, the monetary -- the rates, things will definitely run for us. >> sam, ai seems to be impacting

pretty much every sector how do you see ai impactin telecoms going forward >> look. we sit at the -- we have a lot of challenges in africa, frank africa unlike the other markets when you install your own tower. you have to put a power system because power is unreliable. you have to secure it. you have to have people on the ground checking it maintaining it we, for example, in nigeria in particular, we have sensors on our side, which monitors almost every level. the detail, the temperature, this and that. so that chance is now an opportunity, because for the past two decades we've been reporting data recently now we've creates -- we recently have begun new investing in our own agents, creating agents to monitor or to handle power management for us. >> so you're collecting a lot of

data that may be useful to other companies that need all this data to power logs, language models, and ai functions. >> definitely, definitely. >> sam darwish, thank you very much announcing a new deal with airtel today with africa and emerging markets. we have a new look on microsoft as well. they're in talks with with an effort to end the antitrust complaint. members include amazon and 26 small eu cloud providers filed a complaint with the european union in late 2022 they're claiming microsoft's new contractual terms are harping europe's cloud computing ecosystem. we're taking a look at microsoft shares right now, basically flat but this news just crossing. microsoft in talks with antitrust groups complaining about crowded cloud with the eu. as we head to break, we're

watching shares of boeing and spirit aerosystems, this after the ntsb say they found evidence of missing bolts in a boeing 737 max-9 door plug that blew out midair during an alaska airlines flight earlier this year they've halted the expansion of the 737 max as it and the ntsb's investigations both continue we're back right after this. taking a look at shares of boeing and spirit aerosystems, both higher in the premarket, but, again, we continue to watch this story ♪♪ ♪♪ ♪♪ ♪♪ ♪♪ ♪♪

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it is around 5:30 in the new york city area here's what's on deck. investors are preparing for disney earnings as the giant pulls back the curtain on a pending deal. and the stock is at it lowest level in 30 years this morning a lender pushing back on a moody's downgrade. transport trucking along as the sector feemgds fresh new momentum we're going to dig into the stocks that could pop. you're watching "worldwide exchange" right here on cnbc welcome back to "worldwide

exchange." i'm frank holland. as always, we're going to get you ready to start the day we pick up the half hour with a check on u.s. stock futures. take a look at futures right now. we're seeing the nasdaq still firmly in the green, however, you're looking at the dow. it has fallen into negative territory just a short time ago. fractionally lower, but still lower. we're also checking the bond market with another day of fed speeches take a look. the benchmark at 0.155%, pretty much where it was when we started the show and we also have to watch shares of snap this morning those shares are getting crushed following an earnings report. social media is seeing a topline miss and a weak outlook. shares down just about 31%. we're going to turn to the state of transports. we're talking names like spirit,

arkbest, hertz, and allegiant helping with the climb it's still 4.2% leer i'm going to call you a friend of the show. give me a sense. what is pushing this so much higher right now hertz is a household name. i don't think many know the other names like arcbest. shippers are feeling better about their outlooks we've done a truck shipper survey for about a dozen and a half years and they're starting to see an environmental that's a little -- we've been in a recession for a really long time, and our survey, which we do every two weeks, we survey shippers, it's been, you know, sub 50, which is telling us we're in a freight recession now for about 17 months.

that matches the freight recessions we saw back in 2012, 2015, 2019, and we're starting to see that improve. so the setup is from a shipper point of view, they're starting to feel a little better how things are trending. >> i want to hit on some of the names that are hitting 52-week-highs. rail, union pacific, dow dow's not in the transport trucking company xpo so these names in particular, they're the ones that are hitting 52-week highs along with the etf. do you think any of these have room to run? >> less than truck loeld names, xpo, arcbest, they had really good years, they were over 100% last year. yellow last year went bankrupt and that was the third largest company. one of the companies went bankrupt that's a big propeller for the remaining company. >> you're hitting on a stock i want to ask you about.

so far year to date, that's the best performing stock. do you believe that this is a sign that they've had the biggest benefit? >> they did a great job. they were aggressive in not only getting share but preparing for it they set up their network, expanded service sectors and they're ready to handle that and they were able to check their costs while taking on the freight. they were the best at absorbing it so when you show the growth of sigh ya, it's showing the growth however, we're seeing a lunar new year seasonally we always see those spikes the question is after this period of time, do you expect the strong run for the transports to continue and are we officially out of the freight recession. last year you said we were kind

of in the trough of the freight recession. >> always around the lunar new year, you take a step back you're right the demand as i mentioned is starting to improve. we're not quite out of the woods. we haven't hit barrier we want to see it's still below the hoist tore cal average of the freight direction. let's take a step back. >> more room to run? >> well, a step back would be truck is the early leading cater of a cycle and we're starting to see the excitement in that in terms of demand and pricing. >> out of the freight recession? more of a run? >> we're not off to the races yet. >> we're going to continue to have you back to continue to talk about the freight market. i can't wait to say we're out of the freight recession.

meantime averaging a 52-week high. stocks in china extending their trade. the upside move coming after chinese equities saw their one-year gain on tuesday following a number of signals beijing is sending in support. china's blue chip csi coming off its better the 1000 in dex the best since back to 2008. chinese state media have reported they've removed the head of their security commission joining me now is our own eunice yoon i want to hit that last breaking news when it comes to regulation right there. what does that mean for chinese equities in your mind? >> well, on social media there's a lot of speculation that we'll see a rally, that continued rally in stocks. people have been praising the decision because the view has been the stocks regulator under

the current -- who was the chief until just moments ago was too tolerant of short selling. what's interesting is that the person who is now in charge is a banking veteran. his name is wu ching and he has a nickname the broker butcher because he has a reputation for a very tough style, harsh crackdowns on in the past allegedallege alleged illegal security operations he was there in 2016 he came in in may of 2016 and stayed for about a year. it was during that time he also gained quite a bit of a reputation for being tough on what's seen as a misconduct, a

type of trading called rat trading when traders would build their own positions using their own money and then use other investors' funds to elevate the price. so it looks as though the commission is going to have a much -- a harsher take toward a lot of these types of practices. >> so, again, breaking new this morning chinese state media has removed the head of its securities regulatory mission, a person eunice says is called the broker butcher looking ahead, we have alibaba reporting coming up pretty soon. what enwe see this report coming up, in general, what does this mean for the broader tech sector when it comes to china is it a bellwether of the u.s. tech market? >> yeah, absolutely it's seen as a bellwether in many different ways of course, we know that alibaba is a bellwether of the chinese consumer and some of the practices that have taken place

recently to try to court a lot of bargain hunters has been seen as just a tell as to where the mind-set is of the chinese consumer, but it's also seen as a gauge of the tech sector and even when it comes to the government regulation of the tech sector. so we're seeing it lose in terms of market cap because of the harsh take that the government regulators have taken. and so people have been watching alibaba to get a good gauge as to what the future is for the tech sector. >> all right our eunice yoon live in beijing. it's not just snap in focus this morning when we're talking about earnings today may be all about disney. it's out with its quarterly results after the bell and as a result the media giant making waves in the streaming base. our julia boorstin has more. >> caller: ahead of its

earnings, disney making big news in the streaming sports space, announcing that espn, fox, warner bros., and discovery are forming a venture. it doesn't have a name or price, but the joint venture would develop, launch, and operate a streaming sports bundle of linear networks including all of espn, abc, fox, and tbs and others including espn plus when disney reports after the bell, e i'm sure we'll hear how this fits into what ceo bob iger said last quarter was his plan to turn espn into a digital sports platform. since disney's up, iger is under pressure to show investors his plan for the company is working and far as superior to activist investor tryon's nelson peltz.

revenue is projected to inch up less than 1% cord cutting in the ad market could weigh in on results. we'll see if it bolsters the top line frank, back over to you. >> we'll have much more on disney's results when she sits down exclusively with bob iger at 4:00 p.m. eastern on cnbc. for what to watch, let's bring in brian stutland. brian, good morning. great to have you here. >> great to be here. >> there's a lot to look forward though in this upcoming report as an investor, what are you looking for? >> there are a couple of things. one, you heard about the activists and investors getting involved with disney basically this was the bottom of the stock in terms of price here once he stepped in i think he's got to bring better content to the table there's activists out there basically calling for disney to split up and break up parts of

the company. you know, you saw the news on the sporting area. that could be the start of it. break up the sports, break up the entertainment and the park area of disney and activists breaking up the real estate, which has had a huge run, but isn't the growth generator of the company anymore. so splitting up disney would make a lot of sense, and that's why you're seeing people like peltzing to get on the board and make changes, changing the content of disney+ and what not, and start to generate some value out of this company. >> it sounds like you're in favor of some of these in all fairness since bob iger returned the s&p has far outperformed disney, up 6%, 7%. do you believe these proposals will that juice the stock and as a long-term investor, is that why you're pushing it? >> yeah. we bought the stock not just after they stepped in, but there's been chatter about the

activists. we think there's real value to unlock disney, we've been more shaded toward the artificial intelligence play, the nasdaq 100. the nifty seven or whatever they want to call the top seven tech names. but disney is still awaiting and holding the portfolio because we think here's real value. earnings coming up we expect the parks return and revenue to be very strong in this last quarter. i think they can get things turned around. it seems like a stock we haved a tremendous value this is one of those names, i think, can unlock some value, and we really have a price target of $120 on disney. >> your price target at 120 is last question, very quickly, do you want them to spin off the parks and do the super streaming app and do some other things or is it just one or the other. is there one of these things you want or do you want to see a whole combination of all these different ideas?

>> i think the main thing is to break up the rae and all the land that they hold. it's just an income producing generating kind of thing for them that's not their pe, not their gross sector i'd rather have them focus on parks and entertainment and streaming and focus on that. that helps to unlock some of it. also when you look at some of the technicals on the stocking you look at this $100 strike there's been tons of opportunities. if earnings come out good, the stock could be off to the races. >> we'll have to watch brian stutland, your price target, trading at about 135 coming up, new york community bancorp pushing up. plus big moves in the opposite direction for sonos and enphase energy details when "worldwide exchange" returns. stay with us

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♪♪ whoo! ♪♪ light work! ♪♪ next victims. ♪♪ you ready for this? ♪pump up the jam pump it up♪ welcome back to "worldwide exchange." we're going to start with sonos. the speaker company also issues gieds answer in line with previous forecasts despite slowing demand shares of sew know up more than 8%. enphase surging despite a 58% drop in revenue, the sonos company calling this quarter good enough and saying inventory will norm as lyle by the end of the next quarter

shares of enfatz more than 13% higher revenue falling by 13% and net losses rising by more than 75% the aerospace and defense company citing adjustments turning back to the latest developments around new york community bancorp, those shares are set to continue their selloff despite a quarterly loss last week, the stock shedding 22% yesterday, now sitting at its lowest level in 27 years take a look at the stock right now, down almost 9% as it grapples with a moody's downgrade. our leslie picker joins us with much more. >> the headlines continues to fly. citing the baunk's quote, unanticipated loss on the bank's real estate. moody's also said the recent turnover in risk and audit functions at a, quote, pivotal time, means the bank faces high

governance risk. the ceo of nycb saying in a statement this morning, quote, despite t"the moodys" downgrade are the moves years fitch. "the moodys" downgrade is not expected to have an impact a reminder the whole saga for nycb when the company began reporting fourth quarter earnings last week the stock has shed 60% of its values since it showed half a billion dollar in potential loan losses and a steep cut to the dividend. reports earlier this week said the bank had been facing regulatory pressure ahead of those moves and that the bank's chief risk officer and chief audit officer departed in the weeks leading up to last week's announcement nncb says in its overnight statement it's engaging in a, quote, orderly process, to fill those roles. now the question is what happens next moody's says ratings could be

further downgraded in the event there's a loss in confidence and deterioration of its market capitalization piper sandler had a note yesterday afternoon saying they don't believe nycb is seeing, quote, meanfulful deposit pressure in its latest pressure, nycb says deposits are up from year end, however, it's unclear what the mix of those deposits are, whether that's changed and nycb says 28% of those deposits are uninsured moody's also flagged that the firm relies on wholesale funding. it's been scouring social media for results on deposit pressure on the company and have not found anything too worrisome, but obviously these things, as we know, frank, can change. >> certainly bancorp shares down more than 9% i was looking at it. sitting at 3.7%.

not elevated by any means. i do want to ask you this issue fornycb is there concern for a contagion? >> that's a good question, frank. i think that's something people are focused on is this kind of an idiosyncratic issue, isolated incident, or are the struggles that they're having as it per pains to solid loans is that kind of a broader systemic issue that we could see more dominos fall or at least their stock prices kind of react in the same way? >> so far we have seen this situation drag down in other regional banks, especially those who whose cre is above it. we've seen pressure, but it's not a massive widespread selloff where we feel there are a be up. of different dominos to fall it seems like they're tackling

the one situation. selling off the sector but not necessarily wiping everything away with along what's going on along with nycb. >> a lot to watch. leslie picker, great reporting as always. coming up on "worldwide exchange," the one word every investor needs to know, plus a slice of tech. our next guest says it could be a good safety play against a potential sector selloff much more "worldwide exchange" coming up after this

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welcome back to "worldwide exchange." time for your w.e.x. wrap-up snap plunging more than 30%. the company says the war in the middle east is creating a headwind for growth. chip poetsly crushing estimates, growing by 15% thanks to the return. it's bucking the traffic decline trends from mcdonald's and starbucks. chipotle shares up just over 2.5% warren buffett up. mitsubishi plans to repurchase 10% of its shares worth more than $3 billion. meta is cracking down on ai-generated images on facebook and instagram on both vibl labels and invisible water

marks. it's laid out in a new interview earlier. >> i think it's tangibly changing economic productivity whether it's software development, retail, health care, i have not seen technology like this that can have that broad an impact. meanwhile microsoft is in talk with a trade group about i its cloud computing licensing passion. >> monte paschi is going to pay its first dish dend in about 13 years. shares up just over 5.5% ford shares are also higher. the automaker also planning to issue a special dividend of 18 cents per share in addition to the regular 15 cent differ department shares of ford up over 6%. here's what to watch today, weekly mortgage apps are out at

7:00 eastern time. we get earnings from baba, cvs health, alibaba, and boeing. back to the markets, they're coming off a third positive session and appear to be taking the news about the dismal outlook in stride. taking a look. we are seeing the dow looking like it would open up at 35 points higher. nasdaq holding on in the green let's bring in malcolm etheridge. malcolm, good morning. great to see you markets taken in stride. what do you think about that and the risk of contagion in the financial sector >> the markets seem to be assures that the federal government is going to step in

and shore up any positives. >> let's get back to the day ahead. what is your w.e.x. word of the day? >> to me the word is "calm." investors should feel a sense of calm as we hear the fed speak. basically the plan to get it down to 2% is going to happen. there will not be any surprises. march cuts are off the table, but that doesn't mean the markets have to get wobbly just because. >> you say march cuts are off the table, but when will we see the cuts we're also in an election year amgd the common thinking is they're going to to try to avoid doing cuts right before the election. >> yeah. i think two things are really important here we don't necessarily have to get three cuts before november in order to get to a terminal rate of 4, 4.5%, wherever we're trying to get to i think the depth of the cuts matters a lot more frequently.

so we could get pretty significant cuts in one stroke rather than them being piecemeal. you heard loretta mester indicate they don't have to cut at the quarterly meetings in order to get the cuts out there. they can do them off cycle. >> just for context, cme pricing in a 10% chance of a 50-point cut in may you're saying there might be a big cut in may i want to move on to the picks for us you're looking at cybersecurity, but you're focused on valuation in the cybersecurity space. >> to me cybersecurity is one of those places tucked underneath the tech sector where even if we do get a selloff, which is kind of our knee jerk reaction any time a conversation comes up and we don't like the way it's going. cybersecurity to me is where the spending is going to continue to happen but rather than just piling into crowdstrike once again, palo alto once again, i think there's an opportunity to suck up some of the mid-level cybersecurity names that fall underneath those

that are probably going to be really good acquisition targets as a worst-case scenario but also a lot of room to run because they're using ai to help enhance their offerings against ai-powered threats and phishing and social engineering and anything else they're capable of doing. >> your picks are sentinelone and cyber arc. malcolm etheridge, also great to see you. thank you very much. one more quick look at futures. the dow, looking lightic would open about 30 points higher, the nasdaq moving firmly in the green. that does it for us. "squawk box" up next

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good morning it's not over yet. i'm talking about earnings season we've got another wave of reports hitting the streets, snap getting crushed while chipotle and ford are crushing it i don't know what it is. something. >> the futures, meanwhile, holding steady nycb downgraded to junk. investors continue to flee from the stock. and a potential game changer, espn, fox, and warner brothers

creating a streaming sports alliance wednesday, february 7th, 2024. "squawk box" begins right now. ♪ good morning and welcome to "squawk box" right 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. here we go let's take a look at what's happening with u.s. equity futures. yesterday markets closed higher, so they've been up three out of the last four days dow futures down s&p down by close to 3 and nasdaq down by ten treasury