it is 5:00 a.m. here at cnbc global headquarters. i'm contessa brewer in for frank holland this morning. here is your "five@5." central bank decisions this week on tap including the federal reserve. taking a page from the iphone playbook. now apple looking to google. and server maker to darling. a company that has a better year than nvidia and set to join the

s&p 500 as we ask who's next? and demand surging ahead of the reddit public market debut. and the ceo shakeup after the botched bet on electric vehicles. it's monday, march 18th, 2024. you're watching "worldwide exchange" right here on cnbc. good morning and welcome to "worldwide exchange." thank you so much for joining us early on this monday. let's check this hour off with the stock futures with the s&p 500 and nasdaq coming off the first back-to-back weekly losses since october. you see the s&p 500 is firmly in the green. implied opening up 21 points. die dow jones industrial average is in the green. investors are gearing up for a big week for the markets and a

bigger one for central banks with more than 20 interest rate decisions on tap. bank of england and bank of japanese and federal reserve. let's get a check of the bond market with yields near three-week lows. two-year yield is lower and the ten-year treasury yield is 4.3%. oil is holding above the $80 a barrel mark. wti this morning is up .75%. brent is up .50%. bitcoin continues to pull back from the all-time high of $73,600. we saw the big drop overnight. that plummet is continuing today off by more than .50% for bitcoin. let's see how europe is shaping up with silvia amaro is in the

london newsroom. good morning, silvia. good morning. let me start with what we saw in asia this morning because there were significant moves on the equity front there. starting with the shanghai compos composite, the index closed up 1%. the hang seng is up 0.1%. this was after significant data out of china where factory output and retail sales came in higher than what markets were expecting for the month of january and february. that positive sentiment is turning in the equity moves in asia. the biggest move in japan with the nikkei 225 moved higher 6.2%. this is the expectation is they will see the bank of japan putting an end to the years of negative rates.

let me bring you back to europe and show you the picture on the equity front. we can see there are moves to the upside across the indices here in europe. you will see a very busy week for the central banks in europe. we will hear from bank of england and norway central bank and the switzerland national bank. plenty of action this week from the central banks. >> silvia, thank you so much for the update from europe this morning. let's continue this conversation and talk about the portfolio for the week ahead. joining me now is douglas bonaparte. he is a member of the cnbc advisor council. thank you for coming in. all eyes on the fed and the decision there. the markets are still chomping at the bit for a rate cut. although those expectations have moved on until summer, but do you think the expectations are

too high? >> i think they might be a little high. usually these things don't go the other way. i think you have the rate cut with the consensus is 75 basis points for somewhere in there. equity investors will hold tight until they find out the truth. >> a lot of experts are looking at what the inflation data is telling us with conflicting labor market reports coming out and thinking this may be a boring fed. we may not hear departure from jay powell. what is your expectation? >> that may be a good thing. we have been in a lower environment for a long time mta that. >> we have seen the rally broadening out past the magnificent seven. we have pullback with tesla and

pullback with apple. where are you putting money this week? >> we are long-term discipline investors. we are not making big trades on the week-to-week basis. i like seeing the rotation from the magnificent seven into that broader equity space. i view opportunities later on in the year with fixed income. if we see rates go lower, we expect appreciation in fixed income and enjoy the higher yields. >> are there particular sectors or industries that you are focused on right now? >> we are passive index investors. we take a broad view of the market and try to capture as much as we can. >> what about bitcoin? we had seen the all-time high last week and then a really dramatic 7% drop overnight. for those invested in bitcoin, is volatility just part of the game? >> it is a huge part of the game. i have been holding on to bitcoin for over ten years. i cannot talk about the number

of draw drawns we have done through. this is a risky asset. it is interesting days ahead with the halving coming up. institutions gemttting involved with the etfs involved with the rally. >> finally, we have a lot of data last week on inflation and consumer sentiment. where do you see the american consumer right now? >> their appetite for spending is still there. the inflation hasn't gotten to the 2% level. we have not had a high ppi or cpi print last week, but it wasn't be low 3%. >> douglas, thank you for coming in this morning. >> thank you. >> for more on what's driving the markets and trading day ahead, go to cnbc pro and you will get insights and analysis there. let's check on the corporate

stories with silvana henao. silvana. >> contessa, good morning. apple is in talks to integrate the gemini a.i. engine to the iphone. the companies are in active negotiations to power features with the release of i0s 18 later this year. no comment from apple, google or openai on the report and no official deal is expected until june. that is when apple plans to hold the worldwide developer conference. the wall street journal says the u.s. is investigating whether meta facilitated and profited from the illegal sale of drugs. according to the report, prosecutors in virginia sent subpoenas last year and have been asking questions as part of the grand jury probe. meta is working to remove co

contest and is working to screen advertisers that violate the rules over the sale of drugs. and reddit's ipo is between four or five times overs oversubscrioversubscribe ed making it more likely it will hit the $6.5 billion valuation. this comes as the company says the ftc has launched an inquiry into the sale licensing or sharing of user content with third parties to help train a.i. models. the inquiry doesn't necessarily guarantee that a formal investigation will follow. >> silvana henao, thank you. we have more coming up on "worldwide exchange," including the one word investors need to know today. first, from obscure server maker to a.i. darling. we will look at one stock which has had a better year than

nvidia and set to join the s&p 500 today. we ask the question which company is next? the white house is keeping the pressure on the senate to keep its tiktok ban alive. later, the short list is out for former president trump's former chair nominations. should he retake the house? we ask dennis lockhart if anyone ve b dopt the policy playbook? a ryusoy hour when "worldwide exchange" returns.

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13 minutes past the hour. on this monday, time for the big money movers. shares of hashicorp jumping as it is considering putting itself up for sale. it is in talks with the financial adviser to explore interest for potential buyers. no deal is guaranteed, but the stock had fallen 10% in past year before this morning's move. it is up 13% in the early trade. berkshire ahathaway bought back $2.3 billion of stock. that means warren buffett's successor earned $20 million in compensation last year. shares the berkshire is

unchanged this morning. taiwan semi is looking to build advanced packaging capacity in japan. the talks on the matter are at the early stage. if confirmed, it would help the efforts to recrvitalize the semiconductor industry. it has seen a rise in artificial intelligence. shares are up 1.87%. ahead on "worldwide exchange," hertz says so long to the ceo and the botched rental fleet. more on that story still ahead.

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coming up on 17 minutes past the hour. you are seeing the s&p 500 implied to open higher by 19 points. the dow jones industrial average futures have turned to the red. implied opening down 17 points. the nasdaq is in the green. the big gainers this morning is zoetis and tesla. tesla is up 3.2%. alphabet is up 3.02%. let's get the nbc headlines with frances rivera in new york. >> good morning, contessa. we begin with the latest from russia where president vladimir putin was reelected this weekend with the whopping 88% of the vote. in the west, his victory is a

foregone conclusion. international observers say russia conducts quote sham elections. now to new mexico where a cross country manhunt has come to an end. jeremy smith is in police custody after officers chased him on foot and shot him. smith had been driving a car that belonged to a paramedic from south carolina who was found dead on friday. smith is a person of interest in that case. and in iceland, the volcanic eruption is forcing evacuations. that opened a two-mile long fi fissure in the earth. the blocked a major road on the fishing town. hundreds had to evacuate from the blue lagoon spa.

and selection unday. uconn is beginning the title defense with the overall one seed in program history. they face stetson on friday. north carolina and purdue and houston claimed the other top spots. and on the women's side, caitlin clark has a chance to cap her final season at iowa with the championship. they claimed the top spot and south carolina locked up the overall one seed. you are up to date for a monday morning. back to you. >> a surge in the enthusiasm and fan engagement for women's college basketball. great to see that. frances, great to see you. back to the markets. the s&p 500 is set to look different. super micro computer will join the index this morning. whirlpool is heading for the exit. shares for the server maker has seen a stunning surge up more than 1,000% in the last year.

that is well above a.i. darling nvidia's stock pop. that got us thinking on "worldwide exchange." given the super micro rise, who other companies could enter the s&p 500 with the tsurge of sale price? let's bring in todd. todd, great to see you today. first of all, nvidia seems to get all of the attention here. when you are looking at what these other stocks are doing and these a.i. helper companies, give me a sense of the movement we're seeing. >> good morning, contessa. yeah, there's a few stocks which he exploded in the market evolution and adoption. few companies, if you are looking for possible beneficiaries behind smci at the s&p, there are two names we

might consider. p palantir and manhattan associates. i hold the stock. global leader in supply chains and inconvventory logistics. those are two names. >> you have on your ar celsius holdings. >> celsius is a left turn. this is a holding that i love. this company is in the energy drink space. they are taking on monster and red bull. the expectations are crazy. they made 78 cents a share in 2024. $1.10 and up to $1.56 in 2025. they are going overseas and expanding to canada and the uk.

the health and fitness boom is big. you know, aers is a california asset manager with $25 billion market cap. the floor is $15.5 billion in the s&p. they are above it. eps is growing as well. a couple of names i would say to look at here. >> i think you should invest in an ear piece company. >> i'm sorry. you know what it is? i have small ears. it slips off. >> everyone is walk ing around with headphones. >> you're fine. >> i'm going to stop moving. we should be good. >> the four stocks that could potentially be heading off the s&p 500, let's start with regional banks. key corp here as part of the problem for regionals. >> yeah. you know, there's been a big

movement out in the s&p of financials. they lost zion. first republic and signature bank. lincoln national came out. what went in is blackstone, which is the largest alternative asset manager. it was added in september of 22 2023. key bank. the expectations are not good. rates are not going anywhere. i think the company struggled. they are at market cap which is question able. i think they could be on the way out. the other is vf corp. you look at the consumer discretionary space. the clothing companies are doing unbelievable. skechers andlululemon. the expectations have been

dropped significantly. down 30% for fy 2024 for earnings. they are down to $5.75 billion market cap. contessa, i think they're on the chopping block. >> you listed paramount global. todd, thank you for getting up early for us. >> my pleasure, contescontessa. >> if you like to read more, head to cnbcpro.com/pro. coming up, the short list is out for former president trump's fed chair nominations should he take the white house. we have dennis lockhart if any bring a meaningful shift to powell's policy playbook. and we are sharing the stories of the newly named cnbc change makers. the list of 50 women innovating and transforming business. here is bobbi co-founder laura

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we're coming up on the second half hour on "worldwide exchange" with more ahead. here's what's on deck. stocks looking to hit a reset button with the flurry of central bank decisions, including the fed. former atlanta bank president dennis lockhart is standing by with how much hotter inflation reads could complicate the fed rate cut path. more problems for boeing as another plane suffers a parts issue in the middle of the flight. the stock under pressure this morning. social media heading to the supreme court. what a decision to mean for content and free speech in the digital world? this is monday, march 18th. you are watching "worldwide exchange" on cnbc.

welcome back to "worldwide exchange." i'm contessa brewer. let's pick up with the s&p and nasdaq coming off the first back-to-back weekly losses since october. this morning, we are seeing futures mixed. the s&p implied to open higher by 18 points. the dow has gone from positive to negative now 14 points. the nasdaq in the green. futures indicated higher by 120 points. let's look at the pre-market winners in the nasdaq 100. what you are seeing here -- the big winners in the nasdaq 100 -- there we go. sometimes you have to wait. tesla is higher by 3% in the early trade. alphabet higher 3%. micron is up 2.6%.

pdd holdings and nvidia also the big movers early this morning. a big week of central bank decisions, including the fed. we have more on that in a moment. first, we have the bond market check. the yields hitting three-week lows. two-year yield is lower at 4.71%. the ten-year yield is higher at 4.3%. oil is holding above that $80 mark. we saw big moves last week. wti passing the $80 mark. brent is higher by 1%. the rbob gas is up .75%. bitcoin continues to pull back from the all-time high. it was $73,600. we saw that plummet overnight thursday into friday at 7%. this morning, it is lower by .30%. the big story is getting set for the latest interest rate policy decision by the fed which

is expected to hold firm in the face of inflation especially following the hotter than expected ppi showing its biggest increase since august. the fed is one of 20 global central banks out with rate decisions this week. including a very closely watched meeting in japan that concludes tomorrow and the bank of england on thursday. joining me now with more is former atlanta federal reserve president dennis lockhart. dennis, give me your read on the inflation data that we got in today. >> i don't think you should overreact to one month's data. it looks to me that some of the inflation data is moving sideways which suggests the stickiness that we all worried about particularly as you get into the last phase of disinflation.

let's not draw too many strong conclusions yet. the last couple of reports, as i said, have shown the inflation data moving sideways. >> how closely are you following the ckconflicting moves in the labor market? unemployment is moving higher as more jobs are added and give me your perspective how the fed is considering labor? >> it is one side of the dual mandate, as you know. having said that, the focus is on inflation at the moment. they will look at the labor market and they will consider it a pretty the solid and healthy labor market. the uptick in unemployment, which was not much, but it was still moving up probably

represents some participation improvements. people coming into the labor force. in that sense, it's a healthy kind of thing. i think they'll view the labor market as slowing and rebalancing, but still in a very healthy state. >> you have fed watchers, some of whom think, we're moving in the right direction. we have seen inflation come down significantly. because of that, it's time to give us a break on rates. on the other hand, those who say, look, you have some hundremonths with anomolous reports and why not keep things where we were and keep things even steven. what should the fed do and when should the fed do it? >> i think the fed wants to

avoid a mistake. the fed doesn't want to cut rates too early and move the risk and have a resurgence of p inflation. maybe the last report, the ppi report you referenced, maybe that is some sign that we could have inflation resurging in so way. i think the position of the committee is as long as the economy seems to be tolerating this level of interest rates, i think we'll stand pat and make sure when we make the move that we have it right and make sure that inflation is going to be on a path to 2%. >> in december, we seem to have gotten indications from the fed there would be two-to-four rate cuts this year. do you think that stands?

>> this heameeting is a meeting which they update the projections. as you point out, the range was two-to-four, so there are a variety of opinions on the committee. i suspect we will see on wednesday afternoon is something very similar to what we saw in december. however, there could be movement within that range. that was 15 of the 19 members of the committee who were from two to four. there could be more leaning toward two and fewer who are expecting four. that's showing they are being a bit more cautious with the timing and number of rate cuts. >> dennis, let's get your take on "the wall street journal" report powell's pick by trump.

he met with other economic advisers last week to discuss a short list of on tensifed chair nominations. kevin warsh and kevin hassett and arthur laffer. what are your thoughts about these men potentially to lead the fed and if they would distinctively turn it from where jay powell has been guiding the fed? >> well, you know, i would like to mouth the same thing the fed mouths. it's apolitical kind of thing. only one of the three whom i really know he is kevin warsh. i served with him for several years. the other two i don't know.

let me say, i think jay powell is doing an excellent job as the chair of the fed. he is keeping the process apolitical. that's fundamental, i think, to the way a central bank has to operate. >> dennis lockhart, thank you for getting up early for us today. i appreciate that. >> thank you. let's check on the top corporate stories with silvana henao who joins us. silvana. >> contessa, good morning. the biden administration is calling on the senate to move quickly on the bill to force tiktok's parent company to sell the social media company. the call by national security adviser john kirby comes after the senate cleared with overwhelming support. senate majority leader chuck schumer said he is in no rush on the bill the and congress must as a second package of funding

bills by friday's deadline. we are watching shares of boeing this morning. down about 1% in the pre-market. now, this is plane problems and the faa and united airlines say they will each investigate the incidents with the united planes which lost a panel on friday. ground crews discovered the plane was missing an external panel after the flight touched down in oregon an hour after it took off from san francisco. a c-suite shakeup at hertz. stephen scherr is stepping down. this comes after hertz reverses the rentals after increasing

costs. the stock is down 60% in the two years under scherr's leadership. the u.s. supreme court will hear arguments today to determine how much influence government has over social media and set the standards for free speech in the digital world. we have eamon javers with more. >> reporter: good morning, contessa. oral arguments at the supreme court today where social media companies may get clarity around what the government can and cannot say to them about a lot of issues over public health and education and security and more. the case justices will hear is murphy versus missouri. it was brought by five plaintiffs in missouri. the individuals argued the biden administration improperly pressured social media companies to restrict their posts about covid policies. the biden administration says it was only doing what white houses have always done. communicating to the media about

issues of national importance. they say such jaw-boning doesn't amount to improper coercion or violations of the first amendment. the lower court judge issued the order from banning the administration about key issues for social media companies, but the supreme court has put that on hold until it decides the issue. at stake here are communications on a wide range of issues. pandemic, election, cybersecurity and even more. any decisions could have sweeping p implications. a conservative court here may want to slap this down in the last few months, but this ruling could impact a future trump administration. contes contessa. >> it is interesting. if you draw the comparison to legacy media, it is completely

typical for the administration, which ever, republican or democrat, to call legacy media and the editors and bosses and try to persuade them to take a different stance or try to position their opinion pieces differently. that's normal. a ban to say don't contact the social media companies seems far reaching. >> reporter: it would be a sweeping change in the way administrations have interacted with the media forever. the question legally comes down to whether that jaw-boning when you pick up the phone and call somebody as the u.s. government, if that is coercion or threatening with consequences or if they don't do what you want them to do as opposed to calling them appand asking them nicely. there is nuance here in terms of how far you can go and what coercion is and what free speech

is on the platforms. you a are you free to spread disinformation and lies during a time of national crisis? that's what we're talking about here. in the past, administrations have had wide latitude to push. we will see what the court says this time. >> eamon javers, thank you. coming up, another day and another bullish call on nvidia as the stock looks to keep the gains coming. first, the top trending stories. "dune" is proving the global box office is out of the desert. the movie boxing $500 million during the first ten days. "dune" is now the highest grossing film of the year. you can bring home a piece of dollywood. dolly releasing cast iron skillets. the collection has a guitar

shaped skillet and parton looking at a butterfly. looking for a job? getting more fun. linkedin developing in-app games to spark new conversations. companies will be ranked by how employees perform on puzzle-based games. can you imagine? "worldwide exchange" back after this.

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life tosses lemons your way. cirkul, available at walmart and drinkcirkul.com. it's time for the morning call sheet. hsbc raising the price target on nvidia to $1,050. nvidia is not just defending in the a.i. space, but on the attack with the 2025 road map. shares are up 2.23% in the early trade. jim cramer will speak with nvidia founder and c, o jensen huang tomorrow. another price target hike from bank of america on taiwan semi. bumping it to $155 per share. it calls the company a key enabler of a.i. with the long lasting industry leadership. shares up 1.8% in the extended

trade. morgan it stanley upgrading pepsi to a buy after pepsi bottoms in the first quarter. shares up 1.7%. let's get to the global briefing. goldman sachs changing the monetary policy forecast for the bank of japan. since joining this program last week, the bank now expects the boj to hike rates when the meeting wraps tomorrow due to stronger than expected ed sala gains. in china, output grew 7% in january and february. this beat the expectation of 5%. shares of xpeng moving

higher. the ev maker is planning to launch a cheaper brand as it looks at price competition in the industry. it is expected to price between $14,000 down from the price of $28,000 and $42,000. shares are up 7%. ahead, the one word every investor needs to know today and the risks our next guest says could suck some of the wind out of the market sails and the stock she is suggested to ride out the turbulence. if you haven't already, you can follow our podcast. check us out on apple or spotify or other podcast apps. we'll be right back. and the feeling of confidence that comes from our advice... i can make this work. that seems to be universal. i can make this work.

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welcome back to "worldwide exchange." let's get to the "wex wrap-up." apple is in talks to license the a.i. software with google. it would build on the existing partnership with each other. apple is higher at this hour. elon musk is open sourcing the base code of grok a.i. model without training code. this comes after musk sued openai after the lack of transparency. the wall street journal reports that prosecutors are

reporting if meta allowed for and profrtedprofited through thl sale of drugs. reddit's ipo is between four or five times oversubscribed. that means it can reach a valuation of $6.5 billion when it opens tomorrow. the solar panel maker is cutting half of the work force. it is slashing costs in the industry with fierce competition. the stock is up 1.2%. here is what to watch in the week ahead. earnings from big names including general mills and micron and fedex and nike. reddit is expected to price tomorrow and begin trading wednesday on the new york stock

exc exc exchange. congress has another deadline to avoid another partial shutdown. we have rate decisions from a number of global central banks. including thebank of japan tomorrow and the fed on wednesday and the bank of england on thursday. wall street is working for another high after another negative week after we await guidance from the fed. the dow jones industrial average is hovering back between positive and negative right now in the red. the nasdaq futures look to open higher by 117 points. joining me now is joanne feeney. joanne, good to see you. give us a sense of how we are setting up for the markets for the week. >> good morning, contessa. jittery is the wordy would use to describe the markets the last couple weeks. we have big news coming with the fed tomorrow and on the tech

front with nvidia's big tech conference today and tomorrow. that's been the driver of the market with all of the a.i. buzz and what nvidia says will impact the future forecast for that industry. >> in what ways and specific areas are investors feeling jittery right now? >> i think, first of all, we are in a period of transition. we are moving from the fed having raised rates for many months and now on pause. the question is when do they start cutting rates? we are in the transitional period and that's what makes folks jittery. the fed could come out and change the economic rprojection which is the survey of thefed members. if they decide that it looks less likely that rates will be cut numerous times in year, that is a signal to the market that rates will remain higher and the cost of doing business will remain higher.

we know that last year held off spending in healthcare and industrials. folks would like to see the cost of borrowing come down and that question is will that happen? >> where might we see opportunities? where are you looking for earnings rebounds where the comps may be easier? >> you know, we saw a lot of pullbacks last year with industrials and parts of technology that were not a.i. related as folks paused from spending on pcs and smartphones. we see those areas recover. we saw inventory clear in healthcare and tech. we see some scope for a cyclical rebound as we he cocome off the inventory clearing. texas industries or supply chips to almost every industry or abbvie which supplies cosmetic pharmaceuticals to hardline

pharmaceuticals. a lot of room for cyclical rebound. >> do you think the gains have mostly been priced in at this point and may take a while to provide some return on those investment? >> that is the watch word for the week with nvidia's event. the question now becomes where are the applications for a.i.? a company like adobe last week that talked about how they are gaining customers, but not seeing as big a revenue pop because of a.i. is the issue. >> joanne, thank you for joining us. apecteou joining us for "worldwide exchange." "squawk box" is next.

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good morning. a potential a.i. deal in the works. alphabet shares rising after a report that says google and apple are in talks for an a.i. partnership. details straight ahead. it is fed week again. we will tell you what to expect from the central bank meeting and how soon it could cut rates. what we're learning about the senate's timeline to take up the tiktok bill that sailed through the house. it's monday, march 18th, 2024. "squawk box" begins right now.

good morning. welcome to "squawk box" here on cnbc. we are live from the nasdaq market site in times square. i'm becky quick along with joe kernen. andrew is off today. it's a monday. last week, we did see a down day on friday. nasdaq 100 was down for two weeks in a row. right now, you will see s&p indicated up 20. dow futures are off 10. if you look at the major averages for the year to date. it looks like we are looking at pretty good numbers. the s&p is indicated up 7% for this quarter. th