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tv   Worldwide Exchange  CNBC  February 9, 2024 5:00am-6:00am EST

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it is 5:00 a.m. here at cnbc global headquarters and here is your "five@5." we start with 5,000 and beyond. the s&p 500 hitting a key market milestone and it is looking to push past that this morning. futures are higher. we take a closer look at the run-up from 4,000 three years ago and the troubling signs in the rally. we will ask our power panel if you should be concerned. we hear from meta and amazon about their business, but pinterest is warning of a slowdown. that stock is getting crushed.
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and sam altman looking to raise money for the global a.i. venture. and super bowl and super stocks. money pouring into the nfl ahead of the big game this weekend. it is friday, february 9th, 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 day as we kickoff with the check of the u.s. stock futures with the s&p and nasdaq hitting all-time highs and the former crossing the 5,000 mark for the first time ever. look at futures in the green across the board. the s&p is looking like it is on track to open up above 5,000 right now. the dow looking to open up fractionally higher. nasdaq is pushing the gains in the pre-market. ahead of the open, 53 s&p 500 stocks are hitting all-time
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or 52-week highs. american express and marriott and uber and microsoft. big gainers from ralph lauren to disney. you can see the action right here with a wide spectrum of gainers. disney up over 13%. we are looking at the bond market after the bullish claims report. the ten-year yield at 4.17 as well as energy with oil coming off the best day since january 3rd. gasoline is on track for the best week since march. looking at wti up .30%. brent crude is up. that's the u.s. set up. let's see how europe is shaping up with the overseas action in asia. joumanna bercetche is in our london newsroom with both. joumanna, good morning. >> good morning, frank. let's start with asian equities.
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as we were flagging the chinese markets closed for lunar new year. it was a positive end for shanghai. trade is down .80%. it continues to struggle with the last couple days. alibaba was a name that was pulling that index down. the nikkei is in focus up nine points by the close. we broke through 37,000 to the upside. that is the first time it breaks through that mark in 34 years. a key moment for the japanese index. it continues to perform well. in europe, we are in the middle of earnings season. a lot of those individual companies are driving market performance. as you see, it is a mixed bag. ftse 100 trading shy of 7,600. ftse mib is up had a bank repo down the italian index. dax is shy of 17,000. siemens is dragging the index
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lower today. cac 40 in france also in focus which is down .20%. a lot of luxury names reporting. hermes doing very well up 5% after reporting strong earnings and desire to increase prices throughout the course of 2024 compared to l'oreal which is down 5% after disappointing sales in china. frank. >> joumanna, thank you. the push to close above 5,000 for the s&p 500. when cleared, it can add to the positive sentiment. let's bring in john stoltzfus. >> good morning, frank. >> are you si psyched about thep 500? >> i see both.
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from our perspective, earnings season for the s&p 500 has been much better than expected. four sectors showing double digit earnings growth with communication services and consumer discretionary and utilities and technology. you have the auctions which are lumpy here. the bonds are selling. u.s. bonds have pbuyers for the. we have the continuation of the innovation to carry the market. that doesn't mean we don't good evening questionquestions on it. >> we have been talking about it earlier this week. we saw healthcare and industrials hit highs this week ouweek. >> we sure have. this is the year the big spend
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should flow through the spending that the politicians on both sides of the aisle have done in preparation for the spending in the u.s. this should be good for the industrials. the broadening in the market, we have been accumulating the industrial stocks for a while. whether it is defense or commercial or aerospace. >> john, it sounds like everybody is on the same page. the market moves higher from here? >> the real question is what about valuations? we had a tremendous run since october of last year with the technology leading a very narrow rally. the broadening is a good sign. yesterday, we looked and it was modest gains in the s&p 500 and industrials and nasdaq. the smalls and mids have live
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there. the good federal reserve policy and fewer cuts and more pause looks good. the business and consumer as well as labor are all doing very well here relative to where we are today. we say resilience is the operative word. >> i do want to ask about the forecast with the fed cuts. you are saying a total of 50 basis points to 100 basis points in cuts. you are on the conservative side of the spectrum. how does that impact the market? the fact we get the cuts when the market is expecting more -- does that hurt the long- h-term story? >> it keeps people honest. what we would think is a more thoughtful run of the rally as we go forward. interest rates are high enough
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and margin players and deeply levered players are put off somewhat by the margin costs. >> john, great to see you. excited about the rally we're seeing, but there are questions about valuation. thank you. we have more to come on "worldwide exchange," including the one word that investors have to know today. first, no love for buy now pay later as shares of affirm get hit hard ahead of the open. a look at the cash pouring into the nfl ahead of the super bowl. later, the ripple effect on the boeing mid air blowout is impacting another stock. we will give you that name and much more enwh "worldwide exchange" returns. stay with us.
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cloudflare with revenue increasing by 32%. that is consistent with the growth in the third quarter. it is signing the biggest renewal to date during this quarter. it plans to have artificial intelligence gpus deployed in every city making up the global network this year. and pinterest under pressure this morning. the social media company beatings on earnings. guidance is coming in light with the partnership with google. you see shares of pinterest down 11%. we have a bonus big money mover this morning. we are talking about affirm. shares dropping after the 10% run up for the company earnings. the buy now pay later company reporting a loss and revenue beat. they beat on other metrics with the merchandise volume with the fastest growth rate in a year
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with delinquencies are the monthly installment loans were flat. let's get more insight with reg reginald smith. >> good morning. >> you had a price target of $35 and rating of neutral. after the report, we saw volatility in the stock. has that changed? >> yes. this morning, we came out and raised our december price target to $41 from $35 on the back of strong earnings which had momentum in spending and really good operating leverage. we were a little bit higher than we were going into the quarter. >> delinquencies were flat. we hear about the stretched consumer and that is why people are going to buy now pay later. that is a good sign. >> exactly. i think you can contribute that to two things. the company has done a good job of underwriting. they are tightening the credit
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box the last four quarters and doing a good job there. i would point out relative to other consumer lenders, affirm is doing well. most have reported higher delinquencies and expecting them to go higher in the next few quarters before they peak. >> this is the holiday quarter. in your notes, affirm has dropped after the holiday quarter the last few years. why is that? >> i think it is a little bit of the buy the rumor and sell the news. the stock went on a run december after the black friday and cyber monday updates. the entire fintech space rallied. they love the name around the holidays in anticipation of the good fiscal fourth quarter report and sell the news when it happens. the last three years, the stock has been down on fiscal fourth
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quarter results. >> we have a higher for longer situation. it doesn't appear to bother the markets. s&p 500 hitting 5,000. what does it mean for the pbuy now pay later space? we have credit cards at record levels and sometimes people are using it for grocery. what is higher for longer mean for the space? >> it is a mixed bag. on one hand, the higher rates allows affirm to charge higher aprs. higher rates, on the other hand, could crimp consumer spending. because this is a credit product, you see people shift as budgets get squeezed. i think the key thing is for all of the lenders is how do you manage the credit and underwriting. affirm for the last four quarters has done a good job of making sure the people they are lending to are paying them back.
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>> that's a key thing to try to do. reggie, thank you. >> thanks. coming up on "worldwide exchange," in this year's super bowl match up, two teams hailing from tech hubs are set to go head-to-head. we dig into the battleground to quiz the players on the pressing issues today from the role of a.i. and to the impact of taylor swift. the chiefs may decline to answer. more "worldwide exchange" coming up after this. i'm so glad we did this. i'm so glad we did this. life is for living. let's partner for all of it. i'm so glad we did this. edward jones
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what is your expectation of the fed rate cut this year? >> what? >> i think they are doing a soft landing. >> timing wise? >> end of the month or q2. >> i bought my home last year. i missed the train on that. >> later this year. maybe q4 with a rate cut. jay powell has continually fought against that. i think he is just signaling the market not to get too hot. >> crypto still has a market. it has slowed down. >> i was never with crypto. i am still bllearning about a.i. >> i'm not into crypto. it is too much for my portfolio. >> as far as crypto, i made a couple grand off nfts, but they were scammy.
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i stopped doing that. >> technology is crazy. i would not be surprised if i have a pollster sitting next to me. >> plenty investing in a.i. cover your a.i. base. you don't have to be too risky. >> elon musk as a leader? >> he is eccentric. i can see as a shareholder how he would scare you, but he's eye genius. >> yes and no. he created the entire company. his ideas are the reason the company exists. at the same time, now, i feel he's ready to move on. >> which has brought more fans to nfl? gambling tor taylor swift? >> taylor swift, no doubt. >> taylor swift. >> taylor swift or sports gambling? >> i don't know. that's a deadly combination.
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>> the chiefs players did answer the question. i was surprised. big thanks to contessa brewer. companies continue to bend over backwards and do anything they can to be part of the sports league. julia boorstin has a look why that is and the trend sweeping the league. >> reporter: the nfl is the most valuable content and media. highest programming and pricey ad time and sale s worth billions. the nfl move to espn cat dapult the rise across the media landscape. >> there is a reason the nfl is popular. it is the greatest spectator sport in the world. >> more and more people are moving to streaming.
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something like the nfl can be the catalyst to get them to do that. >> reporter: the 18 million people tuned in across digital in the 2023 regular season. the highest rating since 2015 and the second highest ratings ever. >> nothing gathers america in front of a device like the national football league. >> reporter: the world's most valuable sports league is cashing in on landmark deals. cbs, fox and nbc agreed to pay $20 billion each for 11-year packages. disney paying $30 billion for monday night football. >> the most valuable content on the platforms and areyou are th bulk of the investment. >> you can watch julia's piece on cnbc.com/gameplan. for more, let's bring in david who created a number of super
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bowl spots for amazon and hbo and sprint and coinbase weith te bouncing qr code last year. >> thank you. good morning. >> i'm surprised you don't have a suit on. we were told you are the don draper of the ad business. >> i don't know if that is a compliment, but i'll take it as one. maybe a suit for me later. >> you have two commercials for the big game. one for coors light with ll cool jay. the spots cost $7 million. what do the companies get for that cash? >> they get the potential to have enormous impact. so many eyes on it. remember this is the one time of the year the whole nation is obsessed with advertising. the game is when people go to the bathroom.
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it is reversed. if you can stand out in the crowd, it is a big deal for attention for the brand. >> i'll stay in and watch the game at home. a.i. is a sweeping trend across every business, including yours. how does a.i. play a part in the ads and how the companies engage with the customers later? according to data, 46% of the super bowl ads had celebrities in them last year. a big run up from 2010. are they putting the data in and all of a sudden, we will see a million celebrity filled ads? >> i think celebrities have always been a staple ingredient. a go-to think. with a.i., it will have the most profound effect on advertising anywhere globeally. you will not see it impact the content. you see it every day in the marketing context.
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in the personal space of customer service and ads on your phone. it shows up, but at the moment in the big game, you will not see it creating content yet because it causes too many hurdle s with the creation of content. microsoft is advertising and google will advertise a.i. they will talk about a.i., but you will not see the content created by it yet. >> the content not created by it yet, but does it impact the ability of companies to engage with commeustomers after the ga. >> don't forget, that is the starting price fort for the med. sometimes it is eight figures if not more. yes, it will have a big impact. the number one goal apart from getting attention from the
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fireworks with the spot in the super bowl, is they want people to engage afterwards. how do they get more information? a.i. will connect with the content. now you are seeing the one ad and now you can subscribe and connect with it socially. a.i. will personalize that to make the connections deeper. that is the thing. if you are going to spend that much money which is $7 million or $10 million, it is more than 30 seconds. they want bang for their buck. >> that is a wise decision. you said up to eight figures. david droga, you are the mind behind the coors light ad and paramount ad. you can go online and see them. thank you for being here. >> thank you very much.
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>> ahead of the game, catch the ceos with fanduel interview coming up today. we will ask our power panel if you should be concerned. if youyou haven't already, check us out on your favorite podcast app. more "worldwide exchange" coming up. g?? we just got back from her sister's in napa. who gets married in napa? my daughter. who gets married someplace more expensive? my other daughter. cancun! jamaica!! why can't they use my backyard!! with empower, we get all of our financial questions answered. so we don't have to worry. can we get out of here? i thought you'd never ask. join 18 million americans and take control of your financial future with a real time dashboard and real life conversations. empower. what's next. how am i going to find a doctor when i'm hallucinating?
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it is 5:30 a.m. in the new york city area. there is more ahead on "worldwide exchange." the sa&p 500 is looking to brea above the 5,000 mark. we look under the hood for the 5,000 mark and the run up with the stocks that could push the index higher. it's february 9th, 2024. you are watching "worldwide exchange" here on cnbc. welcome back to "worldwide exchange." i'm frank holland. let's start this trading day as also with the check of the u.s. stock futures with the s&p and nasdaq 100 hitting all-time
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highs. s&p 500 hitting the 5,000 mark for the first time ever. nasdaq is making the biggest gains in the pre-market. ahead of the open, 53 s&p stocks are hitting 52-week highs. that is american express and marion and uber with microsoft as well. a mixed bag for the s&p gainers as well from the monolithic power to ralph lauren and disney. week to date is up 16% with monolithic power. we are looking at the bond market after the bullish claims report. the benchmark at 4.16. we are looking at energy with oil off the best day since january 3rd with gas on track for the best week since march. we see a bit of pull back with
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gas down fractionally. that's the u.s. set up. let's get back to the top stories story. s&p 500 crossing above the psychological 5,000 mark for the first time ever yesterday and looking to push higher this morning. it has been three years since we crossed 4,000 in april of 2021. since then, there have been two market themes. 11 federal reserve interest rate hikes to battle inflation and the breakout of a.i. and the magnificent seven. there are signs that the march to 6,000 could expand beyond big tech. joining us with the power panel is mark newton and strategist and portfolio manager stephanie link. good morning to both of you. stephanie, i'll go to you first. >> good morning. >> good morning. s&p is hitting 5,000.
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earnings surprise to the upside. we have seen it broadening. we have seen healthcare and industrials hit new highs. can we just enjoy this or is there a pot holle on the road t 6,000? >> i think we should enjoy it. it is exciting. a lot of the reason why we have seen 5,000 and close to it today is the economy which is stronger than expected. strong heer than most people thought. stocks follow people on the way up and on the way down. they are going higher. you are looking at 5% for the fourth quarter. you will see upper single digits to low double digits. that is a nice recovery from this time last year in the negative territory. you know what is exciting is it is not just top line or organic growth, but it is margins. margins are expanding because of
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productivity and pricing power. also because the supply chains have been getting fixed. inflation is coming down. you have that really powerful combination of better top line and better margins. you are getting operating leverage. that is fueling the earnings picture. that is why the markets are doing what they are doing. >> stephanie, you are telling people what they want to hear. mark, you are not bringing bad news, but you are looking at the technical side of things. the s&p and s&p equal weight. that s&p is tech dominated. weren't you expecting it to move higher because of tech? is this a surprise? >> thank you, frank. good morning. hello, stephanie. i think the market has started off on a strange start for the year. technology, which we know, has done well as interest rates have come down since last october. it is the beginning of the year
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or the first month where the equal weighted s&p is at the same level back in december. that is not bearish. we moved 700 points from forward to end of year. little under two months with the market moved 20% quickly. that doesn't necessarily mean the market has to rollover. it is important to see other groups start to participate. we have seen that in recent weeks. we have seen evidence of health care move back to all-time highs. industrials are moving to all-time highs. financials are starting to participate. we are lacking in metrics, but we like to see the dow jones industrial average start to participate. it is a healthy market generally. institutions have been slow to embrace it and really chase a lot of the stocks that carried the market. that doesn't mean you have to sell it. stephanie said we're in better
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shape this year than last year. we had the russell 3000 which has 90% of stocks hit all-time highs. the world index hit all-time new territory. the market is in a sweet spot. inflation continues to come down. now we are seeing a fed on the verge of cutting interest rates this year. >> mark, i want to ask a question. you said institutional investors remain hesitant. that's bullish for the market. why is that? >> normally you want to look at sentiment from the contrarian perspective. we saw the largest outflows of s.p.y. since 2014. that is ahead of the magnificent seven earnings. we have seen the rapid gains and many of the stocks have changed all our lives for the better. a lot of institutions have started to put on the brakes and
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say it would be nice to see consolidation and the right to take money off the table. it was an unusual exodus for the market over the last couple weeks. if anything, it makes me think people need to see that consolidation, but it doesn't mean we will get it. >> okay. not going to get it as soon as we want, but the market is hea healthy. stephanie, you are looking ahead to the key economic report. cpi. what could that do to the road to 6,000? could this be the pot hole that people are worried about out there? >> that's a really big number next week for sure. i think we are going to continue to see progress, especially on the rent side of inflation. so, to me, you just step back. we peaked at cpi at 9.1. we are looking at 3.4. this report next week could be under 3%. that would be encouraging.
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that is in the direction of where the fed wants to go. they want 2%. if you look at other metrics like productivity going higher and employment cost index going down and core pce is showing progress. i do think that six times of cuts for the fed is off the table for sure. is it two? is it three? we don't know. it's coming. that's very did. that's hopefully good for the broadening of the market. i leave you with themes for this year. housing and cybersecurity. anything consumer related. onshore and aviation. there are ideas out there beyond tech. >> stephanie, we have more to go. i will come back over to mark. >> great. >> mark, one thing we talked about was health care hitting a new high. the fact that health care is the
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second biggest sector -- what does that mean for the market? >> health care has been a laggard. to see the sector come back rapidly is a good sign for investors. it is one area many ignored. we have the focus on a.i. and technology, but to see healthcare hitting new all-time highs is encouraging. medical devices stocks is phenomenal. the bio-technology group is a work in progress. the group, to me, still looks attractive. >> so it looks like we're on a nice road to the road to 6,000. there could be some stumbles here. stephanie, we are actually done now. we love to see you. mark, great to see you. you both have great weekend. thank you. >> thank you. >> you, too. a market flash on expedia. shares dropping 10% as the company warns revenue moderates with the grounding of the 7637
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max 9 fleet. expedia warning that the ceo peter kern is stepping down. kern will remain on the board. you see shares of expedia down 14%. cnbc and just capital releasing the just 100 list this week. revealing the corporations performing the best on paying a fair living wage and creating jobs in the u.s. chemical and energy companies might not be the first industries that come to mind, but a number of them are making the cut. pippa stevens is here with more. >> good morning, frank. energy and chemicals are moving up the list with just capital is finding it is not an industry wide improvement, but company specific. especially around the two issues voters ranked as most important. workers and communities. ecolab at number seven and advancing from 21 last year. it is becoming the first
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chemicals name to crack the top ten. the company helps businesses conserve vital resources including water. it has implemented career advancement for employees and shown the commitment to dei through comprehensive reporting. marathon petroleum at the 46th spot. improvement from 173 in 2023. it made big strides in the worker category. it discloses wage data and setting and disclosing gender and racial targets. we also have the first time in the top 100 for albemare. chevron and devon making the top 100. frank, there is a look at the various different policies. >> pippa, with the chemical and
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energy companies, transparency is a theme. >> that's right, frank. the first thing here is it is great to set a target, but until you disclose how you are doing on the arget, it is an empty promise. once companies disclose how they are doing, they can say we are meeting or exceeding targets or this is an area we have to improve on. data shows transparency is really key. if you do miss your target, it is better to be up front about that and outline ways you will do better. the caveat is companies that do disclose the data tend to be the ones doing better than average on the metrics. the issue here is the more the companies are transparent and disclosing this, the more other companies say they are doing that and we need to, too. once you have the targets and disclose and improve upon them is the way companies can become more just. >> pippa live at the nasdaq. thank you. coming up, the massive
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amount of money openai's sam altman is seeking to reshape the industry. it does not begin with the "b." we're back in a moment.
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welcome to ameriprise. i'm sam morrison. my brother max recommended you. so, my best friend sophie says you've been a huge help. at ameriprise financial, more than 9 out of 10 of our clients are likely to recommend us. our neighbors, the garcía's, love working with you. because the advice we give is personalized, -hey, john reese, jr. -how's your father doing? to help reach your goals with confidence. my sister's told me so much about you. that's why it's more than advice worth listening to. it's advice worth talking about. ameriprise financial. welcome back. time for the morning call sheet. we start with jpmorgan chase
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reinstating the coverage of cleveland cliffs with the price target of $4 higher than right now. cliffs should generate ample cash as it faces cap ex requirements. and oppenheimer going to 190 for dick's. time for the global briefing. japan's nikkei is coming off the 34-year high after very briefly passing the 37,000 mark. a weaker yen from japanese retail investors are driving the surge. index up 10% since the start of the year. the bullishness is not helping japan's nissan. tumbling double digits on the third quarter results. tumbling 35% and consumers shift to hybrids. updated foreign exchange
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assumptions are cited for the weak yen. and hermes will raise prices by 8% to 9% after sales rose 17% last quarter. the luxury brand logging strong growth in dynamic growth in china. different story for l'oreal. it pointed to a slowdown in china. we have the one word every investor needs to know today on "worldwide exchange." we have the one issue our guest says is pushing for fresh record highs. if you miss "worldwide exchange," check us out on your favorite podcast apps. during february, cnbc is celebrating black heritage. here is sharon epperson. >> black owned businesses
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secured $2 billion in venture capital in 2022. that is a lot of money, but represents less than 1% of the pool of venture capital. many agree there is more opportunity to invest in founders of color. celebrating black heritage. i'm sharon epperson.
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from earlier in the show. cloudflare with shares up over 25%. affirm is down 10% right now. expedia down 14%. they cited issues with the bookings with the boeing max 9 jets. time for the "wex wrap-up." we begin with president biden in the press conference talking about the mental capacity following the report by robert hur that stated the president as an elderly man with a poor memory. >> i know what i'm doing. i'm the most qualified person in the country to be the president of the united states. sam altman is courting investors including the uae for the global chip manufacturing that possibly requires raising $7 trillion. china is partnering with
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baidu and lenovo. the u.s. conducted new air strikes destroying four explosive drone boats and several ship launchers. the targets pose an imminent threat in the region. and a $50 million financing deal with trump media and technology group. the owner of the former president's truth social platform. and arm holdings with the 48% pop yesterday and one that added $34 billion to softbanks coffers. ahead of the open, arm is valued at 90 times forward earnings compared to 34 for nvidia and 46 for amd. shares down 2% right now. turning attention back to the market and the fight for the s&p to close the 5,000 mark. take a look at futures. you can see they are in the
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green across the board. joining me now is victoria greene. good morning. >> good morning, frank. >> we have been talk about this all morning long. hitting 5,000. on the road to 6,000 right now. are we on a straight path to 6,000 or do you see possible bumps or pot holes? >> i would say pot holes, not cliffs. the market doesn't go straight up. you have the huge run here since the bottom in october. you are up 25% or so. we will have to take another consolidation breather. earnings have been supportive. the magnificent seven are still leading. you are seeing the earnings growth which was necessary. we needed to see things justify the valuations they were trading. as we see the earnings and goldman noted this in the above average revenue growth which is
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demanding a premium. not bump free, but the trajectory is still up. >> we are not going to hit 6,000 today. we may close at 5,000. i want to look ahead of the day and your "wex" word of the day. >> anticipation. after the arm earnings, everybody is focused on nvidia. it is all about and advertises passion and what's under the hood. this earnings season is all over the board. within certain sectors, you see some companies do well. look at the quick service with chipotle doing great, but yum and mcdonald's suffered. you see earnings matters. pepsi is onboard today and a lot next week. there is a feeling of anticipation and excitement. it builds to nvidia on the 21st. especially after that arm holdings. if they are two times what nvidia is, what do they have under the hood? >> i agree with you. there is anticipation for next week. we have a cpi read next week. we have a cpi revision. is that an event?
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we have been talking about job revisions on the show. does this matter? >> i think it is a light econ week. cpi revision is more of an event. i don't see a headliner did get. we looked at the prices paid this week. that was a huge data point. all of these are bread crumbs which are important data that investors need to watch to see what sentiment is moving. >> we'ring e having a good earn season. s&p is 7% higher than expected. pepsi is reporting today. what do you expect? >> i'm hoping for a beat. it would be the 20th straight quarter of beats. they are known for guidance. they surprised the street in october where they raised guidance. they have gotten a bit of hate
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from analysts who say they raised the bar. it is a conservative company. i cannot imagine they raise the bar without thinking they can beat. i think they beat. i know there are concerns on the middle east. the snack portfolio. the highest revenue and grossing area of the business. it continues to grow well. as we hit super bowl sunday, you have tostitos and doritos. >> who is your super bowl pick? >> i'm going to go commander in chief chiefs. >> thank you. that's it for us. "squawk box" is coming up next. . . so what are all those for? uh, this lets me adjust the base, add more guitar, maybe some drums. -wow. so many choices. -yeah. like schwab. i can get full service wealth management, advice, invest on my own, and trade on thinkorswim. you know carl is the only front man you need. (phone rings)
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good morning. stock futures relatively calm. however, 5,000, let's say it. 5,000. the day after the s&p briefly crossed that mark, but indicated this morning there is strength at the open and we would be above 5,000 on the s&p. including the shares of expedia. those falling after the company announced the new ceo and warned that revenue would moderate this year. revenue growth, i guess. plus, president biden
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criticizing a doj special counsel report for saying he exhibited poor memory during the investigation of the classified materials at his delaware home. it is february 9th, 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 andrew ross sorkin along with joe kernen. melissa lee is with us today. hanging out. all three big hours. becky is off. >> melissa is here. >> let's show you the u.s. equities. dow is looking to open higher right now. the dow would be up 20 points. nasdaq up 45 points. the s&p is looking to open six points higher. lo

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