it is 5:00 a.m. here at cnbc global headquarters. i'm frank holland and here is your "five@5." we start with wall street getting set for the final read on inflation before the fed's next policy decision. futures are moving higher. tiktok's ceo hits back after the house forces a sale of bytedance. and shares of tesla are running out of juice after the growth stock is without growth. and under armour trying to ignite a rebound with shares 85%

of the all-time highs. new reports pulling back the curtain on reddit's financials ahead of the ipo. it's thursday, march 14th, 2024. you're watching "worldwide exchange" right here on cnbc. good morning and welcome to "worldwide exchange." thank you so much for being with us. let's get you ready for the trading day ahead. we kick off the day with the futures. we saw the dow finish higher for the third straight session and the s&p and nasdaq fell for the third session in the last four. futures are in the green across the board. the dow would open up 150 points higher. despite the potential rebound for tech, no luck for tesla. shares hitting a ten-month low after shedding 4.5% yesterday and nearly $250 billion of market value.

one reason? the downgrade from wells fargo int from neutral to sell. it is down from a $200. the stock is trading at $167. analysts are calling tesla a growth company with no growth. another hit from ubs this morning slashing from 225 to 165. also lowering the first quarter delivery forecast by more than 0, 30,000 units. tesla shares down 1.5% today. here is a quick check on the pre-market leaders in thes that da nasdaq. hoo at the topis moderna and on semico semiconductor at the top of the board. we are looking at the proper

producer price report. the bench market creeping up about ten basis points this week following the hotter than expected read on inflation and in anticipation of the ppi. we will continue to watch yields throughout the morning. that is the morning setup. let's turn to the developing story and capitol hill. ceo of tiktok responding to the house vote on tiktok. that vote could be the first step in forcing bytedance to sell or otherwise give up ownership of the social media platform. brie jackson is here with more. brie, 170 million users. a lot of eyes on this. >> reporter: good morning, frank. a lot of eyes are watching to see what happens on capitol hill. the bill approved by the house would give the chinese parent company bytedance six months to divest from tiktok or the app would be banned from the united states. the future of tiktok is in limbo.

some lawmakers worry china could exploit the data of the app's more than 170 million american users. >> this is not about the co content. it is the conduct. it is a serious and direct threat to our national security. >> reporter: others on capitol hill raise concerns about the potential ban arguing it would inn ffringe on first amendment rights and targets one social media platform. >> we have done nothing for years to protect americans privacy? >> reporter: the bill now heads to the senate where its future is uncertain. >> some of my colleagues have already concluded that is going on. that's why they want to slap tiktok to pluto. i'm not there yet. i want to hear what the

intelligence community says. >> reporter: the hemeasure woul harm millions who use the app to make money. >> we will not stop fighting and advocating for you. we will continue to do all we can, including exercising our legal rights to protect our platform we have built with you. >> reporter: tiktok's fate now lies in the senate's hands. senate majority leader chuck schumer was noncommittal. >> who knows it would create this much controversy. we heard from creators and the former president here on cnbc. has the chinese government weighed in on tiktok? >> reporter: the chinese government says there is no evidence that tiktok poses a threat to national security here

in the u.s. byte bytedance, the owner of tiktok is subject to chinese law. they would have to hand over information if the government asks. >> brie jackson, thank you very much. time for the check on the morning's top corporate stories with silvana henao. silvana. >> frank, good morning. under armour shares getting a lift pre-market. the founder and chairman kevin plank will replace ceo stephanie lennard on april 1st. plank will remain pa director o the board and mohamed el-erian will become chairman. shares of fisker are pl plum

plummeting. the ev startup is considering filing for bankruptcy after warning it could run out of cash. the company is worth less than $190 million. fisker logging $270 million the in sales last year and more than $1 billion in debt. it says there is substantial doubt around the ability to stay in businesses as it looks to raise addition al cash from investors and find a new partner here in the united states. bullish signs from reddit's ipo. it expects to grow revenue by more than 20% this year and break even when it comes to adjusted earnings. that would mark a turn around for reddit which became profitable for the first time last year. the company is looking to raise $748 million during its road show and plans to sell 22 million shares.

>> silvana, thank you very much. see you later on. turning attention back to the markets and wall street. investors waiting for the latest ppi report due out at 8:30 a.m. eastern time which is the final read before the fed policy decision next week. the industry traders expect the central bank to hold off on cutting rates until june. joining me now is thomas martin. thomas, good morning. >> good morning, frank. >> again, consensus is the march meeting and nothing will happen. the comments will be watched. do you believe the potential cuts have been moved to the second half of the year? that would technically be july. do you think the june cuts are off the table? does this ppi report seal the deal on no june cuts? >> no. the june cuts are not off the table, but the probability is lower than it was previously. even the number of cuts, which the markets come back to saying

there will be about four, the fed is still at three. there are a few commentators on the fed who think they should do two. the movement is more toward the latter half of the year. the inflation reports are very important. the cpi was sticky, but overall, the trend is still in tact. a lot of mixed helps amessages. >> i want your interpretation of the markets. you highlight what is doing better. industrials hitting a high about a week ago. is this brought adening good fo market? we have seen the market with fits and starts. we had a down week last week and this week is ups and downs. can the market move higher with the price targets with the boa at 5400? >> i think you need to have the

broadening. the market is at all-time highs whether it is the s&p or nasdaq. it is momentum stocks which have been carrying it. those etfs that focus on stocks which have done well are going to continue to do well. that is the thesis there. they are up substantially. more than the averages. we had a hiccup in momentum with nvidia, which is the biggest momentum stock. it is just that when stocks have moved as fast as they have, people look to take profits. if you can find companies that are growing their earnings, but are a little bit under recognized, that's what the market is trying to find if they can. >> just watch. energy materials the last month taking leadership. thomas martin, thank you very much. >> thanks. >> you can go to cnbc.com/pro if you are looking for more information on what issing driving the markets.

go to cnbc.com/pro. we have more to come here on "worldwide exchange," including the one word investors have to know today. with the rally, comes retail traders. the big money movers are coming up next. why washington is heading down a slippery slope with nippon against u.s. steel. we have a very busy hour when "worldwide exchange" returns. stay with us.

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welcome back to "worldwide exchange." time for the big money movers. sentinelone is under weak guidance after the strong fourth quarter results. the company forecasting an inflexion point for the business. shares are down 9%. robinhood is popping thanks to the increase in trading volumes last month. the company is benefits from the retail investing as day traders see the earnings power. shares up 100% in the last year. some whipsaw moves for

uipath after up beat results before falling during the earnings call. that due to the company's guidance forecasting a stronger second half of the year. seasonal patterns and plans to boost the operating leverage could lead to weakness. shares are up 5%. looking at shares of u.s. steel. closesing down 13% yesterday. look at that chart. the move coming after president biden expresses concern of the nippon steel of the proposed takeover of the american giant. the president's concerns are raising political opposition and overshadowing a summit with the president and the japanese prime minister next months. let's talk more with tinma. >> thank you for having me. >> i want you to walk us through

this. president biden is expected to make a statement of concern about the deal as the economy on foreign investment continues to review. all this as we mentioned by the visit of the japanese prime minister. what does this mean for the deal and what does it mean for shareholders? >> this deal has been unfortunately timed. there has been plenty of examples off foreign ownership of steel in the past decades. this collides with a presidential election year, which means it is especially political. it doesn't help that the company has the u.s. in its name. the company has been unhappy with u.s. steel with the negotiations a couple of years ago. it is facing the crossh-hairs.

this deal has president biden expressing concerns and former president trump expressing concerns. that's a double whammy. >> i want to walk through the politics here. they are trying to iron out differences. they met and could not see eye-to-eye. that is one hiccup. biden is the pro-union candidate in the upcoming election. how big of a factor is politics here and the economics of the foreign country, ally, but a foreign country owning a critical asset? >> i think it really comes down to the fact that u.s. has a l legacy in the country. i think if you look at it, there has been plenty of foreign ownership of entities. it has given support to the t taiwan semiconductor companies.

this is selective to go after this deal because it is a political year. biden is supporting unions. the union has taken a strong stance in this case. i don't think there is any major reason why a foreign ownership is a critical issue. it has become a political deal. they are bringing up the fact that nippon has ownership in china. there are plenty of companies with involvement in china. they are bringing up all sorts of issues which is catching the attention of the politicians. >> is there a bigger issue here when it comes to u.s. protectionism? >> i think that's a really good point. if you say we don't like nippon owning u.s. steel, a japanese company and important ally of the country, what do you say about other foreign ownership of u.s. entities? is it because it has the name

u.s. in the title or some other reason and there will be blockages of deals like this? this is important and could be a problem going forward. with the japanese relations in the future. >> timna, thank you. we will stick with the idea of the blurred line with po politics and wall street. shares of lithium america with the biden administration announcing plans to lend that company more than $2 billion to pay for construction of the processing plant in nevada. it sees a promising opportunity to produce the metal used in the electric vehicles. the white house gets set to block the multibillion dollar deal with the u.s. steel and nippon, but extends an olive branch in the southeast asian region and urging more investment there.

eunice yoon is in thailand with more. you were just in manila yesterday, eunice. >> reporter: i was in bangkok moving from manila following u.s. secretary gina raimondo. in the building behind me, raimondo is meeting with the thai minister who is investing in the chip industry, his own, a private. she said today that thailand is well positioned to benefit as u.s. companies look to, in her words, super charge investment in the long-time u.s. ally and as america beeves up its industry through the chips act. the overall message from the secretary has been that diverse ph diversifying supply chains is critical. she announced $1 billion in

investment among several big-name u.s. companies. these would help train filipinos on american tech non, a.i. tools and evs. today, secretary raimondo convened virtual talks with a delegation from the u.s. she is hoping the participating countries can focus on a work plan in 2024. frank. >> i can't keep up with you. thailand and manila. i'm trying to keep up. keep up with the message from the u.s. government. the secretary is promoting more deals and there are issues with the nippon steel and u.s. steel. are there sectors where she is encouraging the cross border deals? >> reporter: she is looking at the chip industry because she

can foresee with the u.s. chip industry developing in manufacturing and that the u.s. chip industry will need countries that are able to assemble and thailand could fit that part. what is interesting, frank, she barely mentioned china publicly. that's kind of the elephant in the room of her visit here. even though publicly she did not want to acknowledge that china is one of the reasons for these types of visits, but the fact of the matter, the biden administration is looking to diverse phi away from china. >> thank you, eunice yoon. and the case of the consumer bull versus the bear. we will have more on "worldwide

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welcome back to "worldwide exchange." altria planning to sell 35 million shares of ab inbev. it plans to repurchase ordinary shares from altria once the offer is completed. shares up .25%.

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it is 5:30 a.m. in the new york city area. there is more ahead on "worldwide exchange." investors preparing for the latest look at inflation days before the fed policy meeting. futures looking to build m mom momentum. and why secretary janet yellen says rates are here to stay. and the c-suite shakeup and kevin plank steps back and how

that stock may respond. it is thursday, march 14th, 2024. you are watching "worldwide exchange" here on cnbc. . welcome back to "worldwide exchange." i'm frank holland. we saw the dow finish higher for the third straight session. look at futures in the green across board. you see the dow looking like it opens up 120 points higher. off the highs of earlier today. nasdaq is the best performer up .50%. despite the rebound for tech, no luck for tesla. shares hitting a ten-month low after shedding 4.5% yesterday.

you see the decline all week long. yesterday, the company lost nearly $250 billionin market value. one reason? a downgrade from wells fargo from neutral to sell. $125 is the new price target down from $200. analysts calling tesla a growth company with no growth. another hit this morning which is $2 below where the stock is trading. ubs lowering the forecast deliveries by 30,000 units. here is a check of the pre market leaders in the nasdaq. moderna up over 1.5%. followed by on semiconductor and marvell technology. three chip makers leading the nasdaq 100. we have a final inflation read before the policy meeting next week with the benchmark

yield moving higher in anticipation of the ppi report and slightly hotter read on inflation this week. that is the more than set up. let's get the top corporate stories check with silvana henao. good morning. janet yellen says interest rates will not return to levels seen before the pan p dedpandemic. when asked about the white house projections showing higher interest rates in coming years compared to a year ago, yellen argued thes potential successors to bob iger. tv chief dana walden and business head alanb bergman are

part of the search. no successor decision is expected this year. iger's contract runs through 2026. regulators keeping the pressure on boeing. the national transportation safety board says they still don't know who worked on the panel that blew off a 737 max 9 during the alaska airlines flight because boeing has no records on the job. they asked for security footage, but was told the footage was overwritten months before the blowout. the investigation which the ntsb says makes this more difficult moving forward. frank. thank you. a busy day shaping up for retail on top of what has been a market moving weekend. retail sales are expecting

an .8% increase in february. retailers targeting the lower-end consumer are declining with dollar tree issues signaling a broader trend. let's bring in a bull-bear case on the consumer with stacey widlitz here for the bull case and oppenheimer's brian nagel with the bear argument. st stacey, you are a bull here. a rise expected in february. if the numbers come in line, is that a positive for the co consumer? >> good morning. we have been calling for a consumer recession for years. that hasn't happened. yes, the lower-income consumer

has been under pressure. with heard from dollar general/dollar tree with legacy issues there. mcdonald's talked about inflation eating into the con consumer. people are eating at home more. if you look at the thnumbers fr walmart to tj jx, the numbers a phenomenal. promotions remain overwhelmingly down year over year. these are full price sales. these are not promotionally driven here. you heard from williams-sonoma yesterday. comps were better than expected. i expect those numbers to be in line here and be a sigh of relief. >> brian, i'll come over to you. when you talk about inflation, you hear the fed saying you cannot go by one month of data.

is this one month of data enough of a sign to give you an indication of right now, but going forward? >> good morning, frank. it is not. it is one data point. i would tag what stacey is saying. i very much agree that you look at the consumer today and take into consideration retail sales this morning. the consumer is in a better spot than the fears of some significant recession six or nine months ago. no question. as i look at consumer spending, whether the aggregate data or what my companies are reporting, it is okay, but not great. stacey brought up williams-sonoma, better than expected. they are doing a phenomenal job. comp store sales in the fourth quarter were down 7%. you are still seeing those types of numbers. if i look at the home

improvement retailers, flat at best. best buy was down. the consumer spending is holding. trends are okay, but not great. what worries me here and what brings this to stocks, i've been downgrading a number of names in the last several months. my concern is the valuations pushing toward what i consider to be historic highs. home depot, lowe's, five below. that valuation is pushing higher with the consumer spending is okay, but not great. >> you talk about the consumer. high-end consumer and low-end consumer. brian, you cited the strength of lululemon, but you have nike and foot locker playing to customers across the spectrum. what does that tell us about the

low-end consumer as we are following that dollar tree news? >> let's talk nike and lululemon. i don't know if that is low end versus high end. the bigger call is a strong brand in lululemon. nike, great brand. i don't think you have the momentum behind that brand that lululemon has. go ahead. >> i could let you finish your point. stacey, are you worried about the low-end consumer going forward? i think the sales are coming in line. do you have the concern of the lower-end consumer going forward? >> yeah. there are clear signs that food inflation is up on the yearly basis. that consumer is stretched and they have been feeling pressure for a while. i think that is inflation which is coming down. we are not getting deflation.

we are not seeing signs of that. i don't expect that. i think, you know, you are seeing the mid-tier winners and losers. department store space, nordstrom losing share or kohl's is still struggling. it depends which store you are seeing. some brands with phenomenal double digit here. it is winners and losers here. i agree with brian. valuations are stretched. you look at abercrombie. the stock is down nicely. valuations imply these comps will incing c chug along. >> we need to get to a news story. kevin plank at under armour. is this meaningful for the stock or industry? >> i think under armour, like so many brands overexposed to

wholesale, needs positioning here. they have promotional and the brand needs to be elevated again. their wholesale business was down double digits. shakeup here is needed for the brand. >> brian, quickly. we have to get going. good or bad? meaningful to see kevin plank coming back? >> meaningful. my bet is good. kevin will bring energy back to the brand. >> we have to leave it there. great to see you. thank you very much for your time. still ahead here on "worldwide exchange," architects, listen up. diana olick has a home designed by what else? artificial intelligence. "worldwide exchange" is coming right back.

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welcome back. time for the morning call sheet. bernstein with out perform rating of robinhood. it saw a 36% increase of trading volumes last month. robinhood benefits from the monster crypto cycle the this year and next year. goldman sachs upgrading citi's rating to a buy. a pair of ratings on williams-sonoma. moving it to a hold.

both citing the ability to hold margin with a weaker demand environment. from home furnishings to home onstruction. artificial intelligence is moving into the housing space specifically architecture and construction. the company that brought us the first 3d printed home is now bringing on new technology to replace architects. diana olick is here with more. >> reporter: good morning. icon is a pioneer in 33print th homes and now this enables you to design the home online and take the vision further. >> the big vision is to go all the way from human design to delivery. construction documents and budgets and schedules. >> reporter: it asks questions

and learns from answers and every design it has seen. it gives you three potential homes. i tried it out with his help. >> i like a log cabin style, vacation ski home. five bedrooms and three and a half bath. an open floor plan for family events. >> would you like the home to feature any amenities like a fireplace or mud room? >> all of that. >> ready? >> yeah. >> let's go. it's beginning to generate. >> i like the second one. >> the fireplace in the bedroom as you asked. this is a one story right now. >> i like a two story. >> the bedroom on the second floor. you wanted a living area downstairs. it really understood a bit. >> can i change it now to see what an affordable home would look like? >> this looks expensive. can you make the home more

affordable? you can see it made it a little smaller. everything is smaller and basic. >> reporter: it can show you what the home would look like if it were 3d printed. it would put the specs in for the printer. it can design the home in the style of the famous architect living or dead. that opens up questions of copyright. >> a lot of questions. one thing i know, i like your taste in homes. the mud room and everything, diana. this is interesting. this can copy and architect's style, but will it put architects out of business? >> you know, potentially, yes. he says architects can use it as a tool at first, but it will change business a lot. we spoke to an architect who tried it out at sxsw. >> it will be more of a tool.

there are jobs that will change, obviously, architecture will never been the same. >> reporter: it is really changing the way how the costs of going into architecture plans, as anybody has built a house, it can be expensive. this can make it cheaper going forward and homes greener in the sense it will learn how to make homes energy efficient. >> great reporting. coming up on "worldwide exchange," healthcare financials and aeg had mmachines. the three stocks our next guest has high on her opngshpi list. we'll be right back here on "worldwide exchange". ♪♪ crowd: get in! [crowd cheers] american announcer: justin rose has done it. british announcer: he's a 17—year old phenom. nobody's born with grit. british announcer: this is hard to watch.

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[suggestive stomach gurgle] zocdoc? [talkative stomach gurgle] you're right, i bet they deal with this all the time. dr. finley really puts you at ease. let's do it! you've got more options than you know. book now. welcome back. time for the "wex wrap-up." we start with the ceo of tiktok which responds to the house of representatives and if this bill was passed, it would ban the app on all phones in the u.s. >> we will continue to do all we can, including exercise our rights, to build the platform. and former president trump considering hedge fund manager

paulson as his treasury secretary if he wins the election. shares of lennar fall. fisker set to wipe out half of the market value at the open as it considering bankruptcy. the startup warns it could run out of cash this year. and reddit expects to grow 20% this year. it first became profitable in the fourth quarter of last year. shares of u.s. steel rebounding after closing down 13% yesterday for the worst day in four years. this move comes as president biden is expressing a concern of the deal of nippon steel. and we get jobless claims and retail sales figures before the open.

investors are keeping a close watch on the inflation data coming off the hotter than expected cpi report this week and we are looking at futures in the green across the board. the dow would open 150 points higher. for more on the trading day ahead, let's bring in victoria fernandez. good morning. >> good morning. >> i want to get your take on the action. the dow on the three-day winning streak and s&p and nasdaq falling in three of the last four days. futures in the green now. what do you think about all this action? >> we have seen volatility in the market the last couple weeks. that is not surprising. we had an upside surprise to cpi. people are wondering about ppi this morning. we have the fed meeting next week. there are questions. the market has built in the expectation we will have a soft landing and we will have double digit earnings growth and the fed will cut multiple times this

year. they really need the data to support that. it has been somewhat mixed. i think we need to watch probably the labor market reports closely as well to see if there is any issues to tell us things are slowing down. the market is looking for something in order to continue this bull market. i think lower yields is key for it. upside surprise to inflation doesn't fit that story. >> this market is looking for a reason to keep the bull market going. how do you see today shaping up? what is your "wex" word of day? >> my word is momentum. this is a momomentum-driven bul market. it is the best performing factors over the last few weeks for this year, year to date. when you have momentum in the 92nd percent tilile and combineh sentiment ridings high with the

aai bull-bear spread and they are extreme to the upside, the combination of those things, 80% of the time over the next three-to-six months, you get a significant pushback against momentum. that leads us to the middle of the year or late spring where we are going to see the economy slowdown. that should coincide with where the fed is thinking they will start lowering rates. momentum is something i think we need to watch closely. >> it sounds like you are in the june camp. you think we get the cut in june? >> we probably will. interest rate probabilities around 63% or 65% for june. those will go up with the inflation numbers moderating. we'll see. there is a lot of time between now and then. >> victoria, you came to us with

a cornucopia of picks. different sectors. gap, kroger, apple. that is the trim side. on the buy side, cigna, deere and jpmorgan chase. why these stocks right now? >> we start on the trim side quickly. gap and kroger are up 10% and 11% over the last week. take a bit off the table. you can put them in places with more opportunity. cigna is one of our favorite names. we liked healthcare for a while. viewers that watch know that we watch strong balance sheets. that's what you are getting here. strong free cash flow and operating income up 30%. revenue up 12%. you are getting a dividend and debt-to-capital ratio is low. it's down or cigna is actually up this year. wait for a pullback and it is a good entry point. same for deere.

we know the infrastructure bill is coming in play. there is an opportunity there. >> you are seeing opportunities. in general, you are saying momentum is a factor and the market is great to have you here. your picks are cigna, deere and jpmorgan chase. cornucopia. >> take your pick. >> always great to see you. thank you very much. that's going to do it for us. "squawk box" is coming up next.

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good morning. airline safety blame game. the head of the ntsb says boeing failed to secure work footage on the door plug that blew out mid flight. bo boeing's response just ahead. under armour's kevin plank is return to the role. we will talk beer and

cigarettes in the stock movers. it's pie day. i can go out two? "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. things are looking up so far on this thursday morning if you are a bull. check it out. equity futures are higher. dow futures up by 150 points. s&p nis up 20. if you have been watching treasury yields, they are higher after the hotter than cp