it is 5:00 a.m. here at cnbc headquarters. i'm frank holland. here's your 5 at 5:00. the dow and s&p notch their third straight day of losses, but that will not keep several companies from hitting new highs. nelson peltz getting fresh support with disney. we have details on the backer. trust, it only gets bigger. plus the bridge collapse in

baltimore. they're now turning to a recovery effort. this they're trying to reroute cargo at one of america's busiest ports. and z's ceo sitdown. it's wednesday, march 27th, 2024, and you're watching "worldwide exchange" right here on cnbc. ♪ good morning, welcome to "worldwide exchange. let's get a check of the u.s. future we're taking aing loo. we're seeing the market and the premarket in the green across the board. it looks luke the dow i would open up just about 41 points higher the s&p and nasdaq, 30% higher in the futures market as well. you see in the red, markets for the week, week to date, looks

like the dow is down half a percent, the% is down over that. the nasdaq the hardest hit as we talk about this, the losses, there's a number of s&p 500 companies that are hitting 52-week highs. that includes a lot of popular names. netflix, disney, domino's pizza, general motors, and hilton many of them or three of them are higher in the premarket as well we're also checking the bond market as we march toward the market on friday pretty much the same level it's been at the last couple of days. we also want to get a check on oil. wti and brent both coming off their fourth negative session in the last five. take a look at the oil market. wti falling back, down 1.25% brent crude basically 85.25, down 1.25% as well we have to take a look at what people call digital gold,

bitcoin, as it works to stay above the level. remember, bitcoin trades, currently trading at 69,135. still up almost 12%. that's your setup. we want to turn our attention over to europe to see how trading gets under way our arabile gumede with much more on the early action arabile, good morning. >> good morning, frank look, it's a bit of a mixed picture out of europe. we're expecting inflation data that's what the market will look toward today's pretty much the thursday of this trading week, isn't it look, you're seeing negativity out of the uk and france it really all is marginal. we're taking a look at the likes of h&m, which put out its numbers today. double-digit gains, in fact, for h&m on the back of what looks like they're aiming for a revival. of course, the question mark is

around that retail space where more growth is possible when you have the likes of that that data out on friday, the market will certainly be looking toward all of that. >> arabile gumede live in our london newsroom. we're going to turn our attention back to wall street and the latest survey tapping into the nation's leading institutional investors, top strat jiftds, strategists, and our own cnbc contributors we asked them about the outlook and -- this is the key question -- whether the market has run too far too fast joining me now is craig johnson with piper sandler good morning good to see you. >> good morning, frank thanks for having me back on. >> what is your take where do you stand >> you know, frank, i agree with that survey 100% i'll tell you i believe this is

a market where we need to sort of cool our engines. this is a market that's had a 20% plus advance off of the october 2023 lows arc beyond u start looking at a lot of the technical indicators you're on the upper end of a price channel. number two, you have overbought at this point. number three, you've got a market trades trading 13% above a 40-week moving average number 4, the breath has not been fantastic you look at some of the stocks that are making new highs. what's not on that list is nvidia, smci. >> okay. we're going to talk about chips in a minute. you're adding chip names to your portfolio. i'm not surprised you're with the 65% who say you're going too far, too fast. you're keeping your s&p price target at 50-50.

for context, the median price we track, they have a median price of 5,125 you're lower first you give me a list now you're giving me mixed messages you're positive of expenditures. give me your thinking about that. >> sorry about the mixed messaging. what we like to say to markets, we like longer term. we're due for a pullback and a correction we reduced our equity exposure from 98% to 90% and we also sold a bunch of parabolic-looking charts, nvidia being one of them and then we added some names into the portfolio you're right we did add a couple of chip names such as micron and tsm, taiwan semiconductor but overall, frank, we think this is market that, again, is run too far, too fast.

it needs to cool its engines, and a 5% to 0% has turned it into a lower trading range is the most likely scenario as we look toward the next couple of months >> you have the thesis of a pullback and slowing momentum as we go into q1. you're looking at technical indicators at the same time, you're adding two chips. they're both up more than 35% year todate and also cyclical. why add those if you feel the momentum's slowing down? >> frank, we still have technology, which is 25%, 26% of the entire market at this point in time. so if we're still going to have exposure to technology, we're just not going to be coming after these mag 7 or fantastic 4 companies we to find opportunities that are below the surface, and we find that micron is at a point in time where we're breaking out the '24 year highs. taiwan also looks constructed.

we have a 16-bagger in nvidia. i think enough is enough. >> we're looking at one of those charts there you don't have to be a technical analyst to see the break outright there craig johnson, always great to see you. thank you very much. time now for a check on some of this morning's top corporate stories. our silvana henao is here with those. >> good morning to you nelson peltz apparently getting more support in his proxy fight with disney. eagan jones says disney shareholders should support peltz' nominees to the entertainment giant's board ahead of the annual meeting next week the report says egan jones claims the move will force disney to listen to new and different ideas. last week the largest proxy adviser, iss, also backed peltz. meanwhile sharess merck are jumping ahead of the opening after the fda approved a drug

that helps with a progressive lung disease merck expects the treatment to be available in select specialty pharmacies in the u.s. by the end of next month. and shares of robinhood also rising after it unveiled its first ever credit card the retail trading firm is entering the competitive space with its robinhood gold card offering 3% back on all cat fwooirs. the card will require a robin hod gold membership, which runs $5 per month or $50 annually, frank. >> silvana, thank you very much. we'll see you a bit later in the show. we've got a lot more to come on "worldwide exchange" including the w.e.x. word of the day. first china's ceo sits down and talks about the roll out of policies. and game over for shares of gamestop as the retailer gets

crushed at the open. later, u.p.s. shareholders asking what can brown do for me as the stock gets hard during its investor day how ceo carol tome says she plans to turn things around. a busy day ahead when "worldwide exchange" returns. so this is pickleball? it's basically tennis for babies, but for adults. it should be called wiffle tennis. pickle! yeah, aw! whoo! ♪♪ these guys are intense. we got nothing to worry about. with e*trade from morgan stanley, we're ready for whatever gets served up. dude, you gotta work on your trash talk. i'd rather work on saving for retirement. or college, since you like to get schooled. that's a pretty good burn, right? got him. good game. thanks for coming to our clinic, first one's free.

welcome back to "worldwide exchange." time now for your big money movers, the stocks moving in the

premarket. we start with red it, lower this morning, jumping another 9% yesterday. it doubled from last wednesday and roughly nearly 39% above its debut price. before its jump, there was a neutral rating and a $54 price target you can see that's lower than the level that the stock's trading at right now. shares of adobe, they're moving higher. some are aimed at bringing new generative ai capabilities the microsoft 365. >> ai's a massive tailwind in each one of those businesses, both to attracting a whole new set of customers as well as having additional value and, therefore, being able to monetize that. >> shares of gamestop, they're plunging this morning, down 15% after quarterly revenue fell due to rising competition from e-commerce firms and weak

spending the company also says it's cut ang unspecified number of jobs to reduce costs. turning now to china, that country's president meeting with a group of ceos in beijing according to a report, the sitdown is coming as they look to shore up their economy and boost investments which are hovering at multi-decade lows. it filed a complaint with the world trade organization, china calling the u.s. subsidies dis distorted. let's bring in the managing director and senior policy analyst and contributor of cnbc. dewardric mcneal good morning. >> good morning, frank, how are you? >> they launched an investigation last year. the u.s. issuing a warning to china about dumping last month that's kind of a back-and-forth

issue. needless to say there's some trade tensions globally between china and the west give me a sense. when we look at these meetings with u.s. business leaders and other ceos and president xi and other chinese leaders, you say there are diminishing returns. why are their diminishing returns in these meetings? >> first of all, frank, i do think it's important to note talking and meeting is important, but the way this used to work, foreign ceos would show up they would make pledges for further investment they would praise the leadership that would usually yield some sort of additional access to markets, additional deals. those days are gone largely, frank, because china doesn't need western companies the way they that they used to. there are many ways that china, quite frankly, is looking to be more self-reliant. they have options.

i have domestic options. and the geopolitical environmental is such, frank, that i think chinese companies, chinese government, western companies are still trying to figure out what the future is for business and economic engagement. >> all right so they're still trying to figure it out. you say china doesn't necessarily need u.s. and other western companies as they once did, but they still want them there. so why do they want to have these meetings while still engage and try to attract foreign investment >> i think it's important to note, frank, there are some sectors that china really still needs western businesses to engage they need western investments. that's not all sectors, frank. there are some leading the pack. where there's the need, the door's open, but the important thing to note here, frank, is that this is more of a tactical shift than a long-term strategy

adjustment by xi xi still is looking to be as self-sufficient and they're looking for chinese companies to dominate at home and more frequently these days, frank, abroad. >> xi jinping visited the u.s. last year. he received a standing ovation you're hoping this time it's a bit of a different tone. you're hoping u.s. ceos press xi and other chinese leaders. what do you want them to press chinese leaders about? >> look, i was not happy with the way the san francisco meetings went. if you're going to have these meetings, it's my view they need to be more than just sort of speeches of policy plat 250ud as i say. we need policy specifics what are the specific things that you're going to do to make sure that this market is not just open but welcoming over a sustained period of time for western businesses, and so what i'm hoping they will do is speak

very clearly about some of their concerns about why they are leaving china or derisking for china and what it would take for them to stay, what type of laws need to be clarified, what type of additional policy support and i think, quite frankly, frank, they can start by showing they support their own private sector i think that will help western business feel a lod more comfortable about staying and increasing investments over the long term. >> all right a lot to unpack there. again, navigating the u.s. tensions, dewardric mcneal thank you for your time and insight. coming up on "worldwide exchange," shares of trump's social media company, why it's getting mo dfiltorreifcu f investors to ignore politics we'll be right back on "worldwide exchange" with much more

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"worldwide exchange. turning to the latest developments around the devastating bridge collapse in baltimore, officials now saying search-and-rescue efforts for six peek who were working on the bridge at that time, they have now transitioned into a recovery effort nbc's alice barr joins us from baltimore with the very latest alice, good morning. >> reporter: good morning, frank. and there are so many questions about how this tragedy could have happened and what's ahead in order to rebuild the bridge and the lives forever altered. in baltimore this morning, a broken bridge united a community

in grief as an urgent rescue mission for at least six missing people shifts to recovery. >> we're going to do everything in our power to help these families find closure. >> our hearts go out to these families. >> reporter: the missing part of a pothole crew on the ship as l large as the empire state building the pilot said he lost power, slamming the ship into the pylon of the bridge, sending it into th the river. video shows the last two cars crossing about 30 seconds before the bridge fell. >> one of you guys on the south side, one of you on the north

side, hold off traffic on the key bridge that's a ship that just lost its steering. >> reporter: federal and local agencies working together with president biden promising to help rebuild the bridge. they're examining debris, witnesses, data recorders, and past records. >> the ntsb focuses on the facts, so we will figure that out and be able to provide the information in the coming days. >> reporter: for now the focus on the human cost as families wait for answers from the dark water. >> reporter: officials believe it will take years to rebuild the key bridge, and that will massively shift how people get around this city we should also note the very busy port of baltimore is now completely locked down, and there is no time line of when it will reopen. frank? >> alice barr in baltimore, thank you very much. so, again, the first concern is human life, but the bridge's collapse is also impacting the global supply chain.

general motors and ford will reroute their ships so the impact is minimal. all international rail service to and from the port of baltimore has been paused at least in the near term the port is the busiest u.s. port for car shipments handsing the car shipments. 52 million tons of foreign cargo is worth $80 billion good morning it's great to have you here. again, number one concern is loss of human life our thoughts and prayers for the families but there's going to be an impact how significant is this impact for the supply chain and what's the impact when we talk about rates? >> there definitely will be an impact we have to split it into two

categories one is container traffic imports and exports of containers if you start with containers, the port of baltimore is a large port but not one of the largest. i think it's the fifth largest on the east coast alone. that i handle something like a million containers in 20 unit equivalents a year if we talk about total imports last year -- there are exports who are dependent or rely on the port of baltimore. that i'll have to move those goods by truck or other means. there will be that local impact. for local imports as well, they're going to have to adjust and see diversions to other ports. larger ports have the capacity to handle that. >> it seems like short-term

disruption and rates will hike there are other ports, neighboring ports. it's short term and an inconvenience that might lead to a quick spike. i want to point out something you mentioned. it's not a big container port, but it's a big roll-on, roll-off port that means there's a lot of machinery and cars that come out of there 23 billion in autos and light trucks we had the mercedes-benz ceo on yesterday who saidite goes doing to take a while. it could take years to rebuild the bridge are they going to export to other places >> as you said, it's the largest roll-on/roll-off port in north america, something like 70% of those vehicles handled are import so i would say if we compare it to container traffic, the likelihood is a bigger impact in

terms of auto imports than in terms of consumer goods. you know, but likewise as you said, as we heard from leadership in the auto industry, they're looking for alternatives there are other ports that handle large volumes of autos, but because of the size, it may take more time to even out. >> when we talk about containers of exports and imports coming off ships, does this almost, i guess, automatically increase the rate of trucking trucking is 70% of how things get around the u.s because a lot of these things will have to be trucked to other placings, should we look for a spike in trucking as well? >> i would think so. it will have a shorts-term impact in terms of impact. trucking is quite regional, so, you know, it will take some time we'll see some impact on higher costs until alt tifbs are found and it kind of stabilizes. >> a lot to watch. j

judal levine from freightos. thank you very much. >> thank you. u.p.s. laid out its 2026 targets and vision for the future of global existence for fiscal year 2026, revenues forecast to be between $108 billion and $114 billion to put it in perspective the outlook is between 92 and $94 billion. u.p.s. pointed to excess capacity of 12 million packages a day. analysts i spoke with said that number raises questions about the company's plans to grow volumes and margins. on cnbc yesterday, ceo carol tome laying out the environment in an effort to bring customers back after losing business during the contract negotiations with the teamsters. >> i am happy to report we've brought 60% of the volume back

into our network it's not just about winning back, but it's about winning new. we do believe volume will be down in the first half of the year, but we expect it to return to growth in the back half of the year. >> analysts i spoke with added targets and the overall plan, they call it a bit aspirational, and it seemed to depend on a goaddy lox scenario not just for u.p.s. but the global economy. they say in part, the 2026 eps estimate is 20% higher than their numbers. he also notes that u.p.s. missed targets they laid out at their last investor days again, they had their worst day since january. coming up on "worldwide exchange," adam trying to get back his bid not so easy. we'll be back after this break

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in the new york city area. there's a lot more on "worldwide exchange." here's what's on deck. one commodity touches a new all-time high. shares are in the green. investors looking to avoid politics, they're having difficulty doing so. the key sectors to watch as we approach the 2024 election. with apple, the stock down so far in 2024, but will the big event help right the ship for

shareholders it's wednesday, march 27th, 2024 you're watching "worldwide exchange" right here on cnbc ♪ welcome back to "worldwide exchange." i'm frank holland. let's get you ready for the trading day ahead. we take a check on the u.s. stock futures. in the green across the board. it looks like the dow would open up almost 150 points higher. the s&p and nasdaq in firm positive territory dow blue chip stocks, merck at the top of the list, up over 4.5%, followed in a distant second by nike goldman sachs under half a percent. we check on oil. wti and brent coming off the last session, off of its lows of earlier today. you see wti trading just below

81 bucks a barrel. brent crude trading at basically 85.40 a barrel, just about 1%. we want to talk another commodity. cocoa. prices breaking a record above 10,000 for the first time. you see the big upside move when it comes to this commodity that so many of us love you see it trading at 96.22 when it comes to the futures. supply constraints have fueled that right now you see it's unchanged but moving higher over the last year or so, trading at an all-time high yesterday. that's your morning setup. right now we're watching shares of president trump's social media company jumping 50% from ipts early trading day by mid afternoon, it had a market value of at least $8.4 billion on an undiluted share basis. it does provide a financial bump as he continues his presidential

campaign and he faces mounting legal bills. there's a piece titled "how to trade an election. for much more on this, let's bring in the managing director of the washington research group at td cowen. great to have you on the show. >> good morning. happy to be here. >> let's start off broadly when it comes to politics, does that impact investors and their decision-making more or does it impact companies more? >> oh, we can go either/or on that you have to say both, right? i mean, certainly when you think about institutional investors as well as retail investors, they can't help but be influenced by what they hear over the airways, what they read in the newspaper,

and we hear grandiose plans about what they plan to do that has to influence their thinking from a corporate side, that i have to mang long-term investment decisions, and as they look out at the political environment, they have to make a calculation, who do they think is going to win and what is that going to mean for taxes, regulations, and futures. >> certainly a lot to consider there. you gave us a list of the most politically sense active sectors. one of them is health care obviously there are issues politically from the biden administration where they're trying to regulate drug prices there's also financials, there's energy so when we're looking ahead to the november election, how do you think investors are viewing these, especially sensitive political sectors? >> sure. so with my colleagues at the washington research group at td cowen. we put out a note previewing all of the companies and issues that we expect to really be impacted by the election. you certainly named the top three on our list. you know, i think that as you

think about health care in particular, you know, my colleagues do a lot of work in that space and it's really drug approvals and medicare where there's a lot of interest. you know, in general, the democrats, as you suggested, are much more open to negotiating drug prices. and i do think, you know, with one of the more concrete things you can look at in this upcoming election, particularly in the health care space, where there really could be a difference between the candidates. >> i want to hit on one of those other sectors, energy. you and i had a chance to chat yesterday. you hit on an interesting point. generally the thinking is republican candidates might be more focused on energy we saw record oil production in fact, the forecast for next year is record oil production of 13.65 million barrels per day, again, a record-high we pulled back from another record in 2023 so give me a sense how does that intuition, how

does that really play out when it comes to investing. can we just -- it's a bit counterintuitive to think the biden administration would be the time when we see the biggest oil production. >> shhh. we're not supposed to tell anyone that's like the big democratic secret here. this administration, you know, we think about trump and we say, you know, pump, baby, pump, but really it's this administration that's been pumping out oil. you know, they don't like to take credit for it, you know it doesn't necessarily go well with their kind of green energy push that you saw in the inflation reduction act, but, you know, the biden administration has definitely created a favorable environmental to pull more oil out of the ground. i do think, you know, when we think of this space broadly, that republicans, particularly president trump, would be more in favor of fracking and some

other policies that democrats are a little less willing to embrace. is there's probably a slight edge for republicans on this issue, but it's definitely not as negative with a democratic president as i think the conventional wisdom would hold. >> it sounds like you're saying the investors need to look past the headlines and look at what's really going on with all of these issues. >> 100%. >> we'll have to talk to you quite a bit before november. looking forward to that. it's been pleasure. >> thank you. time to check on this morning's top corporate stories. silvana henao is back with those. >> hey, frank. good morning to you. more pressure coming down on tiktok the fcc is investigating the social media platform over faulty privacy and security data practices. the commission is looking into weather tiktok and parent company bytedance deceives users by denying individuals in china

had access to their data and violating children's privacy law. a lawsuit could come in the coming weeks. meanwhile the "financial times" says jpmorgan's ceo jamie dimon had a one-on-one lunch at the white house last week with vice president kamala harris this comes as tensions between the biden administration and u.s. businesses continue to rise as executives flag concerns over taxes, trade, and regulation. and adam neumann facing an uphill battle in his bid to buy back wework. the former founder and ceo who was ousted from the company three years ago has offered to buy the company for 5million it receives interest from third parties on a regular basis and is working in the best interests of the company, frank. >> all right silvana, thank you very much. all right, coming up, apple looking to pull a u-turn on its

very rough start of the year take a look at the chart shares down 11% year to date the key event that could determine the stock's next steps. we're back in just a moment.

welcome back to "worldwide exchange." time now for your morning call sheet. we start with western digital

giving an $80 price target the company's uniquely positioned to outperform given the number of tailwinds that could drive sizeable upsides to estimates. citi cutting its price target for tesla to reflect recent data points a i head of tesla's q1 delivery release. and kdw saying while it's enthusiastic about the stock, they believe it's set for a consolidation phase. turning to papple, getting ready for its conference date. it could provide some support. down 11% our steve kovach joins us now with apple's rough start to the year steve, good morning. >> good morning, frank apple started 2024 on top. we had launched the division pro, returning to earning growth for the first time in a year and the largest market cap in a

year a slew of companies have humbled apple this year, sending shares down about 11% year to date, and all of this is happening while its big tech peers continue to climb on hopes of ai let's run down apple's experience so far this year. first we have china's business iphone sales fell 24% in the first six weeks of 2024 from the same period a year ago that's according to a recent report from research and then the eu started enforcing its tough any tech law. they said they're investigating violations of that law which could come with steep fines. then apple canceled its next big thing, the self-driving car, the titan. last week, the doj released its wide-ranging antitrust suit. mark don june 10th that's when apple said yesterday it's going to hold ww d.c., it's

annual development conference. if you don't believe me, take a look at this expos, teasing a quote, absolutely incredible ww d.c. with the "a" and "i" capitalized. break new ground in artificial intelligence they don't have a clear ai path next it's recasting its features as ai instead after all of that and ww d.c. over the summer, in september apple is expected to release new iphones, of course, and those will come with exclusive ai features like we've seen samsung phones to convince folks to buy new iphones, frank. >> you're digging deep in the tweets with the "a" "i." i like that.

what's next when it comes to the doj? >> last week when that suit was filed, with saw shares fall 4% what's next? apple has to respond i talked to some folks at apple yesterday, and one of their key arguments is going to be aza respond to the doj is this idea about market shares. so the doj is claiming apple has a monopoly here in the united states, but apple only really has about 50% market share compare that to the microsoft case a couple of decades ago where microsoft computing windows had about 95% market sh share. so expect apple to start arguing in a more formal way in the court that it's not quite the monopoly as the dj alleges, frank. >> steve, thank you very much. time now for your global briefing we start with chinese president xi jinping meeting with academics todays a well as presidents of the national committee on u.s./china relations and the u.s./china

business count in japan, the yen falling to a f four-year low against the dollar they're currently holding a special meeting on the currency. and shares of byd, they're falling in the stocks with a selloff in seven months. they're posting an increase in the fourth quarter profit, the slowest since 2022 chinese e ves are moving lower coming up, the one word every investor needs to know plus our next guest has stunning market stats on how strong this rally has been including what some stocks have not done in the last 50 years. and we're going to tell you what she's telling her clients right now. as wehead to break, here's our julia boorstin with an impact on women owned businesses.

>> women own 14 million or 39% of all businesses in the u.s that's an increase of nearly 14% in the last four years, growing at a faster rate than male-owned businesses female business owners employed more than 12 million people and generated nearly $3 trillion in revenue last year. for women's history month, i'm you la boorstin. [sfx: wind, rain and rolling thunder] nobody's born with grit. british announcer: rose is really struggling. it's something you build over time. american announcer: that's 21 missed cuts in a row. [car trunk slammed shut] for 88 years, morgan stanley has offered clients determination and forward thinking to create the future... crowd: stop it! ...only you can see. american announcer: rose, back in the winner's circle. [crowd cheers] [music out]

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welcome back to "worldwide

exchange." time now for your w.e.x. wrap up we start with egan joins reportedly backing nelson penlt in his fight against disney. they'll be forced to listen to new ideas, and this comes ahead of their shareholders meeting. robinhood expects to boost its subscriptions. the card will be exclusively available to gold card members we'll have much more on this coming up at 7:30 a.m. shares of merck is taking off after the approval of one of its drugs. gamestop stocks are plunging due to rising competition from e-commerce firms and cutting an unspes tied number of jobs to reduce costs. enthusiasm around stocks shows signing of waning at least as of late

futures are higher the dow would open 170 points higher, hitting the highs of this morning joining us now, lizzie evans with a firm worth $1.2 million lizzie, good to see you. >> good morning, frank. >> the market, is it slowing down is it just a pause you're coming to us with a bit of a history lesson. we're seeing a trend in the market that we haven't seen since the nixon administration why is that important to you >> well, frank, we've had 117 consecutive trading days without a correction as you mention, if you look at the last 18 trading weeks, 16 out of those 18 trading weeks have posted positive weekly gains on the s&p we've not seen that since 1971, so more than 50 years. and going back 70 years, only five tames all of that to say we're due for a little bit of a market pullback here. >> you think we're due for a

market pullback. i want to get a sense how you see today shaping up, futures higher what's your w.e.x. word of the day? >> my w.e.x. word of the day is "time out. i'm born and raised in indiana, went to indiana university and i'm a hoosier at heart us hoosiers love basketball, especially in march, and this market reminds me so much of a high octane march madness basketball game with a lot of offense. so every good coach knows that from time to time you need to take a time-out and reassess strategy, make some adjustments, and that's exactly the conversation we're having with clients today. >> according to your famous coach bobby knight, sometimes you have to throw a chair too. we want to get the latest on the investor survey. 61 respond dents say tech.

39% say industrials and 29 r 26% say health care. what do you say? >> two stocks we like, we like dr horton. if you look at the supply demand imbalance with homebuilders, that should be the tailwind for the next four to five years. plus as we see interest rates come down, that should be a boost to new home sales. it's well-positioned within its geopositional point and crowd strike. >> i want to talk about crowd strike for a minute. it's up 1% since palo alto networks platformed their business which shook up the industry i want to get a sense from you long term, do you see them working through that or will they be impacted >> i think that they'll be able

to work through that within cybersecurity, the cybersecurity vendors are in a race to gain market share as customers look to really consolidate their cybersecurity spending >> lizzie evans, always great to see you. your picks, dr horton and crowd strike, thank you very much. a quick look at futures. it looks like the dow was hitting the highs opening up at 170 points higher. the s&p and nasdaq firmly in green. that does it for us. "squawk box" coming up next. i'm aline and i live in castle valley, california. my husband, barney, and i have been married for 32 years. i think the most important thing in life is to stay healthy. i noticed i was having some memory losses. i discovered prevagen. since i've been on prevagen, i've noticed more clarity, more sharpness. the recall mechanism is a lot more concise.

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good morning gamestop, i haven't heard that name in a while. we're going to dig through the company's quarterly results straight ahead nelson peltz winning support of a new backer in his proxy fight against disney shareholders will make a decision one week from today and the nfl backtracking on an earlier decision. it now plans to schedule games on christmas day it's wednesday, march 27th, 2024, and "squawk box" begins right now. ♪

good morning, everybody, and welcome to "squawk box" right here on cnbc we are live from the nasdaq market sooite in times square. i'm becky quick along with joe kernen andrew is off today. here we go it's wednesday it's hump day. >> it's really kind of thursday, which is the best day. >> because of good friday. i forgot. >> you know how good thursdays are, because it's the anticipation of friday. >> a nice long rollup. >> we have more time until monday. >> markets will be closed for friday we will be off air but this morning on this wednesday/thursday morning, you're going to see that the futures are indicated higher dow is up by 161 points right now. nasdaq is up by 85 s&