it is 5:00 a.m. here at cnbc global headquarters. i'm dominic chu in for frank holland on this friday morning. here is your "five@5." wall street gets set for its final day of may trading. futures are in a bit of a holder pattern. key for investors is the pce inflation report andwhat it could mean for the fed's summery rate playbook and everything else playing out before the opening bell.

and the next move after the verdict finding donald trump guilty of 34 felony counts in a manhattan courtroom. out doing itself. sa saudi aramco looking to outdo it's own day. it's friday, may 31st, 2024. you're watching "worldwide exchange" right here on cnbc. ♪ good morning and welcome to "worldwide exchange." i'm dominic chu in for frank holland. thank you for being with us. we will begin with the check on u.s. equity futures in a holding pattern. you see the dow implied higher by nine points. an eight-point decline for the

s&p 500. keep an eye on that as we head into the opening bell. stocks limping over the finish line as we close out may with the dow on pace for the worst week in more than a year. the nasdaq with the worst day in an entire month. investors are keeping an eye on the pce inflation report out at 8:30 a.m. eastern time and what a hotter than expected read may mean for the fed's first rate cut timing and everything else. already not likely until the end of this year. milken chief economist bill lee is coming up with that report. silvia amaro is in the london newsroom with the price action from across the pond. silvia, good morning. good morning, dom. happy friday. let me show you how we are tracking in terms of end of month performance. obviously, being the 31st of

may, it is an important moment. you can see we are on track to end the month on a positive note. particularly in the united kingdom with the ftse 100 to end up 1.4%. we are seeing pockets of green in switzerland, italy and spain and in germany. there's been a couple of things happening this month. we saw corporate earnings coming in above what analysts were expecting. it was also quite a lot of conversations about potential mergers in the uk in particular. on top of that, the confirmation from the bank of bluof england they are on track to cut rates. let me show you the price action so far this morning. we are getting the new headline print in terms of inflation for the eurozone. it came in at 2.6%. this is slightly higher from what analysts were expecting and also slightly higher from what we had seen in the months of

april and of march. looking ahead, the key question at this stage is what will the ecb do after their meeting next week. at the moment, they are on track to cut rates next thursday. the key question for the markets is what are they going to do after that. with that in mind, we are seeing looking at the european boards with the cac 40 down the flat line. in germany, the main market is tracking lower alongside with the italian main index. let's see what will happen throughout the section today. no doubt the headline print, inflation print, is going to be important for traders. perhaps they are just starting to digest the latest numbers in the eurozone. guys. >> silvia amaro, thank you for that. turning to a developing story and former president donald trump and a new york jury finding him guilty of all 34

counts of the hush money payments in the 2016 election. trump is now the first u.s. president to be convicted of a crime. he is set to be sentenced sdays before the republican national convention where he is set to be formally confirmed as the nominee. the former president is expected to appeal that verdict. for more, let's bring in tina fordham, strategist and former citi chief political analyst. tina, this is a development that many, perhaps in the marketplace, and in political circles was expecting. what exactly, then, does that mean for the narrative of this election cycle going forward and how could it impact the markets? >> well, first off, even though

we have known how the trials will play out, so much has gone in donald trump's favor. i still think it will have come across as a shock, these 34 convictions on felony charges. the question, as you suggest, is whether it moves the needle in terms of trump's support because, of course, he will still go on to be the republican party nominee at the convention four days after the sentencing. the u.s. constitution has very little to say on anything that would prevent him from going on to be president. there's a lot for trump or for u.s. voters, rather, to digest. this is a booming year for u.s. equities. equities are rarely sensitive to political developments. i would say that, especially u.s. investors, have continued to tune out politics. from where i am in london,

global investors are very confused. >> so, if they're very confused, what exactly then does that mean? generally, equities are not that sensitive to these kind of political developments. is there still a reason why investors here in the u.s. or abroad should be worried or enlightened or feel good about either a biden presidency or a trump presidency? does this change anything for investors anywhere? >> it is those first principles, political sign post and structure questions that i'm getting asked. does the conviction prevent him from going on to be the nominee? answer, no. does it prevent him from going on to win the presidency? also answer no. there are more questions about things like the possible sentencing that well result from these charges and then i don't think anybody is really able to

answer the impact on the polls. so, the immediate impact of this felony conviction and the first time the u.s. president has been convicted on criminal charges is headline risk. you know, markets are comfortable with shrugging off headline risk, especially in the face of so many more constructive fundamentals. it means the process and the time horizon up until november 5th is looking more muddy and more confusing and more grubby. >> we just showed, tina, the current predicted odds of a biden win or a trump win. it didn't really seem to move things that much in either direction. we will see if things may out differently in the coming months. tina fordham, thank you very much. we appreciate your insights. turning to the stocks and the verdict inn jjecting

uncertainty in the markets. let's bring in seema shah at principal asset management for everything that is happening root now. we had a great conversation with tina fordham about this, seema. the markets seem to be mostly focused on overriding macroeconomics narrative as opposed to what was happening in the new york courtroom. has anything in your mind told you that it's anything but inflation at this point for the u.s. economy and by extension, for the u.s. voter? >> so, hi, dom. no, the fundamental story is still one of what is happening with growth and what is happening with inflation and when is the fed going to move. those are the key stories. that should be the main story on investors' minds. certainly the news overnight does inflict additional amount of volatility the market doesn't want to see.

for investors, it should not ultimately change the growth and inflation and what fed is doing. >> that, by the way, growth picture right now, seems to still be decently in tact. it is still growing at a fairly healthy clip that doesn't imply recession. prices are still stubbornly sticky. we are at a stock market at record highs or just near them right now. what exactly can upset the balance here and will today's pce report be anything that generates any real volatility? >> so the pce report we can generally make a fairly good bet of what it will hold because it is from the last indicators and you have a number of other ones that feed into it. it is unlikely to create volatility. the thing to disrupt markets at this point is if we see inflation trending higher again. today's print should bei lower from last month. as you move forward to future months and you see that trending

higher and you are pushing out fed cut expectations to 2025, certainly, that would be disruptive. more than anything, it is the expectation that the u.s. economy is downshifting, but not heading to recession. if, however, we see major deterioration where the consumer is really struggling and the labor market is showing signs of cracking, that would have impact because you have impact on the earnings growth. we are not expecting that, but certainly that would be the major disruptor. >> seema, pimco's co-founder bill gross, said this is the most important factor for the markets going forward. i want you to listen to what he had to say. >> now, i think only the central banks and only the fed is important. watch the fed, but don't necessarily believe them. they haven't been good in the

past five or six or seven years. watch the fed to see where interest rates are headed. that will help in terms of the markets going forward. >> seema, before we let you go, we are getting pretty close to the election. how quickly does the fed have to move, if at all, ahead of this to avoid any kind of seemingly weird perception about political inter interference? >> i think for the fed, what is really important is they have to make the decision once they are absolutely convinced. if they don't have sufficient evidence that inflation is decelerating to the level they are hoping for, they have have to move. that is key for them. for them, it is 100% sure the direction they take is the right one depending on the incoming data. anything other than that would lead to accusations. >> seema shah, thank you. we have more to come on "worldwide exchange," including the one word investors need to know today.

first, u.s. officials reportedly putting the squeeze on middle east technology companies looking to ride the a.i. wave. ahead of the big pce inflation report, a closer look at the ever discerning retail consumer and the movies ahead o the on oppening bell. and later, more on what it means for the guilty verdict of donald trump after what it means for the white house race. we have more when "worldwide exchange" returns after this commercial break. it's me. (man 1 vo) i have people, people i can count on. (man 2 vo) i have time to give (grandma vo) and a million stories to share. (grandpa vo) if that's not rich, i don't know what is. (vo) the key to being rich is knowing what counts.

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welcome back to "worldwide exchange." watching the price of crude oil ahead of the big opec plus policy moeeting and production decision. saudi aramco and a share sale could rival the record-breaking ipo. we have dan murphy joining us now from dubai with the latest play in the world of oil. many traders, dan, have warmed up to the idea that production cuts may be held constant if not expanded. what is the ophfeel from the mie east right now? >> reporter: dom, this comes at an interesting time with the opec plus meeting getting under way on sunday and at the same time we have big news from the biggest of bill oil.

aramco confirms it seeks so raise $12 billion in a new share offer. what do we know about this? we know this was widely s spec speculated, but aramco will offer 1.5 billion shares at a range of 26 riyals or 29 riyals per share. aramco raised, we know, almost $30 billion when it listed in 2019. it hasn't tapped the market since. the second offer comes at the time where the kingdom is under significant pressure to fund all that investing it has been doing to diversify the economy away from oil. this new share offer comes when the spotlight and all of the eyes are on opec which is meeting at the weekend. this decision to meet online

validates the market commentary we are hearing with the production cuts rolled over for the rest of the year. at the same time as well, checking in on the price of oil here. oil has really been trading in a tight range for the last three weeks. analysts we have been speaking to out here in the middle east over the last couple of days all say that a rollover is already in the price. all eyes on what opec does this weekend, but no real surprises, dom. >> dan, we are also following reports that u.s. regulators are throttling back chip shipments to the middle east all on national security concerns. what can you tell us about that story? >> reporter: this is a big story as well. out here in the region, we like to say chips are the new oil. a pretty significant development here today. we also learned that the u.s. commerce department is basically hitting the brakes on chip exports to the middle east. the government is going to slowdown the license approval

process while it conducts a national security review. basically, the united states is worried that advanced chips from the likes of nvidia, for example, will land in places like here in the uae and in dubai and abu dardabhi and chin. the uae and saudi arabia are close allies of the united states. clearly, the u.s. is worried about any intensified tech competition with the u.s. and china. it doesn't want those chips last landing in the wrong hands. it is an interesting story. >> big focus in the middle east. dan murphy, thank you for that. ahead on "worldwide exchange," the bold prediction that bob sgrks reifeld is making whether the a.i. race and eclipsing apple as the largest

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welcome back. time for the big money movers. reta re retail edition. costco's same-store sales topping estimates for the 11th straight quarter. non-food items saw the best growth. shares are slipping in extended trading after closing at a record high in yesterday's

session. nordstrom is falling after the department store operator reported a wider first quarter loss than expected. the company chalking that up to timing with the higher than expected increase in inventories. nordstrom is sticking by the guidance for the full year. the shares are down 5.5% pre-market. ulta beauty jumping as first quarter profits beat forecast. they benefitted from demand for skin skcare products. the stock is down 17% for the year, but up 5.5% pre-market. you have shares of gap which are absolutely soaring as its turn around plan is yielding results. forecasts beat by gap and old navy brands. it is raising profit margin guidance for the year.

shares are up 22% in the pre-market trade. let's talk more about the difference in retail and the trade that is happening right now and inflation and how it is impacting the ckconsumer. jes jessica, if you watched the price action for the retail stocks yesterday, it was like an absolute roller coaster. how exact ly do you glean anything about the macro picture for the consumer with the big moves ret retailers? >> i'm laser focus oded on the consumer. why are they shopping that way? you have to prioritize if you are a merchant. for example, i would say off price. if there is a category that is not moving, they have have the flexibility to go away from it and expand in the categories doing better. mostly some of the retailers, i

feel, are running better strategies and that's what they're doing. leaning into the categories such as beauty. within beauty, it is skin care. footwear has done well, but it is running its comfort. birkenstock did well yesterday. again, the niche categories that we are starting to see the consumer shop and prioritize. >> what stood out yesterday to you? you see a bigfoot foot locker m. you see kohl's move to the down side. there was birkenstock and best buy. what exactly does that mean about the con kconsumer right n? >> they're spending. i think the cracks are starting to show with the consumer. with the lower end and middle consumers they are doing well, but it is starting to show. when they shop, they feel do

they need it right now and am i going feel good about it? yes. if you think about priorities, grocery. we go for an value. in terms of kohl's, it has been a difficult department store wise. it hasn't been a winner. in nordstrom has struggled. if i think about foot locker, it started showing signs of a better turn around in the past month especially from my store checks. it is a clear strategy. they sit in the footwear category. i'm still looking to see stiff competition from dick's sporting goods. the consumer is doing everything outdoor. they have a great assortment. that's very much improved. >> what companies do you cover now that you think are the best positioned heading into the

back-to-school season and into the, by extension, retail holiday shopping? >> dick's sporting goods my top pick. i think they run on all cylinders on strategy. they have a great relationship with the brands. i think they are experts for outdoor. tennis, basketball, house of cleats. those sports have gained so much. you will go there. >> jessica ramirez, dick's is her top call. thank you. as we head to break, a check on shares of tesla which are down pi.50% pre-market. another speaking out against the pay package of elon musk and it is calling the plan outsized and urging shareholders to ve otno ahead of the annual meeting on june 19th. "worldwide exchange" is back after this.

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it is 5:30 a.m. in new york and there's still a lot coming up on "worldwide exchange." here's what's on deck, stocks set to close out a mostly magnificent may with the nasdaq set to knock its best month in a half a year despite turbulence rattling investors. futures in the holding pattern as we prepare for the big market report of the week.

the fed gauge pce. that is expected to show inflation creeping to the central bank 2% target. historic moment for the u.s. as former president donald trump is found guilty on all charges of the hush money trial. that's coming up. it's friday, may 31st. you are watching "worldwide exchange" here on cnbc. ♪ ♪ welcome back to "worldwide exchange." i'm dominic chu in for frank holland on this friday morning. let's pick up a check of the u.s. equity futures which are in a holding pattern. the dow is higher by 15 points. the s&p higher by 6. nasdaq by 7. the dow is on pace for the worst week in more than a year and the

nasdaq coming off the worst day in a month. if you look at what is happening overall on the month-to-date basis, dow is up .75%. the s&p is up 4%. the tech heavy nasdaq up nearly 7%. a really good month of may. checking in on the bond market with the personal consumption expendables. pce. the ten-year note yield at 4.56%. two-year treasury yield which investors use as a proxy for future fed policy at 4.59%. the key to the market action today is the fed's preferred gauge of inflation. the pce priece due out at 8:30 a.m. the consensus is expected at 2.7%. the core is expected to tick down slightly to 2.7%.

that incremental decline could spell trouble for the fed as inflation pushes the rate cut timeline further and further out. the chance of a july cut sits at 12%. it was down from 21% about a month ago. let's discuss this further with bill lee, the chief economist at the milken institute. this is a scenario, bill, where inflation is still the dominant market narrative. is something going to change with today's reading or do you feel the inflation story still has to stay where it is for the fed? >> even if the inflation data were to come in better andit stays better for a while, let's remember, the fed has been telling us they have to be convinced we're on a downward trajectory toward 2%. they really mean 2%. to be convinced, it takes three-to-five data points to establish a convincing trend. one data point will not make it. one thing we should watch out for is so long as service sector inflation stays at h4%, the fed

is not anywhere near to take down rates until we see that come down to a more reasonable level. >> bill, the narrative or story from the fed is higher for longer. it has been that wayin for as lg as we can remember. what does higher for longer mean and could it be higher and higher for longer and what could that look like? >> the real question people have been asking is how is the fed measuring tightness. when i was on the fed staff and even today, everyone is looking at the real rate of interest. nominal rate for adjusted rate of inflation. if the two-year note is 5% and the pictured five-year break even is somewhere at 2.25% range, we have substantially high interest rates. we are well above that. that's what we mean by tight. as long as the economy stays

tight, we will see a crunch in the housing and auto sales. the downward revision is because of the auto financing is expensive and people cannot afford to buy cars. >> people can't afford to buy cars and they cannot afford to buy houses. interest rates, as you said, are tight. how do you reconcile that against the economy that still seems to be growing in a job market that still seems to be tight, bill? >> we have a bifurcated society, dom. the people at the top are doing well. filling in the airline seats and the business seats and foreign tourism an prbabroad. what we also see is the people at the medium income levels are having to take on more and more jobs. multiple jobs to make ends meet. that stress on the consumer is showing up in retail sales as you mentioned and it will show up in weakening gdp.

the weakness in gdp that we saw, by the way, 1.3 number, is a sign of strength because a lot of that weakness came from high imports. people are buying a lot of foreign goods. until the economy starts to slow down to the inflation comes down and the only way we get that is slower consumption, we will not see the fed lower rates. >> interesting, bill. both you and retail analyst jessica ramirez are both seeing signs of stress in the consumer. bill lee at the milken institute. thank you very much. >> thanks for having me. turning to the developing story and former president donald trump. a new york jury finding him guilty of all 34 felony charges. nbc's brie jackson joins us now from washington, d.c. with more on the fallout from the nation's capital and more on manhattan.

brie. >> reporter: people are rallying around the former president. house speaker mike johnson said the conviction is a political exercise, not a legal one. former president donald trump found guilty of all 34 counts of falsifying business records. marking the first time a former president has been convicted of a crime. >> this was a rigged, disgraceful trial. >> reporter: district attorney alv alvin bragg spoke out. >> i did my job. >> reporter: michael cohen was a key witness in the trial. he testified that trump knowingly made payments to stormy daniels to cover up an alleged affair before the 2016 election. republicans are rallying around their presumptive gop nominee

>> i can't believe the hoax, this sham, this absolute injustice sdjustice system. >> reporter: in a statement, the biden campaign respected the rule of law. both are using the legal battles to gain support. americans are d ss are divided former president's conviction. >> i feel if we have a president as a possible felon, that is not good for the country. >> it might sway it a little bit for trump because of seeing how unfair that was. >> reporter: voters will have their say in november. former president trump will be sentenced on july 11th. dom, that's just four days before the republican national conv convention. >> brie jackson, thank you very much for the report. let's dig into the fallout over the verdict and the markets take on all of this.

predict it presidential race contract and the probability he will win the 2024 race falling to 47% for president trump. on the news falling back to 50%. the trump prediction is at 47%. the biden prediction is 49%. taking a look at the president biden's probability of a victory in november, it did pop after the verdict. it is holding there just about steady. both are within the margin of error, somewhat. coming up on "worldwide exchange," the bonus edition of big money movers and dell plunging ahead of the opening bell. we're back wh atto aeritth sryft this. stanley, old school hard work meets bold new thinking. to help you see untapped possibilities and relentlessly work with you to make them real.

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welcome back to "worldwide exchange." time for the bonus round of big money movers. dell shares are plunging after strong demand for a.i. servers and pcs. the 22% increase this revenue is failing to impress investors who are focusing on profit margin pressure. shares down 14%. z scaler surging on the 32% jump in revenue and increase to the full-year guidance. the cyber company is accelerating innovation as more enterprises adopt its platform in the rise of cybersecurity threats. those shares are up 17%.

by the way, be sure to catch zscaler ceo coming up on "mad money" with jim cramer later on. marvell shares are off after data center revenues up 83%. ma marvell expects carrier infrastructure to increase. and salesforce paring back the losses after yesterday's miss on revenue estimates for the first time since 2006. analysts say execution issues and changes to salesforces go-to market strategy weighed the most on the performance. big drop yesterday up pre-market. we have a news alert. the wall street journal reporting bill ackman is looking

to papersing square public. he is looking to sell in a funding round and expecting to value at $10.5 billion. that deal is expected to close in just the coming days. coming up on the show, digging into the a.i. revolution and how the technology could change the way we invest our money. former nasdaq chairman and ceo bob greifeld lays out why he thinks major sftarhis e just getting started. we're back after this.

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♪♪ totally revolutionary. it reminds me of when the internet started, if i date myself a bit, i do know see much change. now there is not a soul alive who doesn't say the internet revolutionized retailing. >> with the a.i. and digital assistants, that will turbo charge the type of offerings. >> with pharma, the opportunity is with new drugs and new content creation. a.i. can go through vast data sets and help you get to much better drug molecules in a more efficient manner. >> it's a theme. artificial intelligence. from retail to pharma, the

detroit big three, we have been digging into the a.i. hype and asking if it is near its peak and comparing it to the crazes of the past. joining us to tie it all together and offer a fresh take is bob greifeld, former nasdaq chairman and ceo. bob, thank you for joining us here on "worldwide exchange." >> glad to be here, dominic. >> can you take us through whether you think the a.i. hype is founded and where exactly in baseball terminology, if you will, what inning are we in? >> that's a great question. i would start by saying i think the hype is under-done right now. jef jeffery, many who consider the father of machine merlearning,

like what he said. this is as important or more important and the industrial revolution or electricity. when you talk about the dot-com or bubble or boom or bust, that is small potatoes with a.i. >> the boom-bust is what we are worried about. some investors are worried a boom-bust and possibly boom cycle. how do you feel the market is valuing this and does it set up to something of what happened in 2000 and 2001? >> there are always people making bets in wrong places. i have would point to nvidia in this sector. when you look at that stock price rise and have it as a chart, you say holy god, how can it not be under priced? we take a systematic approach to investing. we invest in financial technology. nvidia is not in our spheres.

one of the filters we have is the five and dime which is relative value stocks, nvidia comes in six of the 72 technology-based stocks in the s&p. you see the fantastic run-up, but it is still a relative bargain based on the fundamental economic performance. that did not really happen during the dot-com boom. it is well under one right now. growth rate is phenomenal. it is a profitable company. we take it as a trend with a future in front of it. >> what is the most intriguing story line? i know you specialize in financial technology and fintech investing. what is on your radar right now with how they can capitalize on the artificial intelligence in the coming months, quarters and years? >> i break it down to two categories. one is the relative mundane. i heard somebody mention the

virtual thassistant. we do in our hedge fund, we can have all of the ak and qs and run it against every transcript the ceo says and the tool will tell us where there is some type of discrepancy. it does that for us automatically. that's great. our work, what is the next step, and that is having a.i. more involved with the investment process. i think you will see a period of time where the mundane task is truly revolutionized leading to structural change. whether he y when you think about what's going on with a.i., you focus on the markets and think about financial technology and to me, the most exciting thing is you had in the last year through the use of a.i. where they solved one of the major issues with the drive to nuclear fusion. if you think, a.i. is responsible getting us to fusion

ten years sooner than we might have, the impact on society is hard to comprehend as we get tos fusion and free power. >> bob greifeld, we did not have time for rob investing. bob, thank you. >> thank you, dominic. ahead on the show, the one word that every investor needs to know today and closing out a solid may for stocks as investors brace for the highly anticipated pce inflation report. the names our next guest has on her buy list for the trading day ahead. all may, cnbc is celebrating aanhpi month. as we head to break, here is mcdonald's field president myra d doria. >> the most important memory i have growing up is working in the flea market owned by my cousin in the philippines. it gave me a great crash course

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♪ all right. today's pce report is key to the market action as we close out may. checking the margins. let's bring in tiffany mcghee. tiffany, just how important is pce to the market story today? >> well, pce -- hi, dom. how are you? pce is the metric that the fed looks at, but as a lot of your guests have been saying, that is one data point. is it important? yes, it is, but the fed is looking for more data points outside of just today. >> outside of just today. the overall story for the market

is one at record highs or near it right now. is there still value to be had? >> i think there is. you know, as a matter of fact, that is my "wex" word of the day. room. specifically, there is more room to grow in the market. one of the things -- >> what part of the market still has room to grow then? >> we are specifically looking at value stocks and we are also looking at earnings growth. last year are, the magnificent seven were responsible for earnings growth. this will widen this year. we can look at 995% of the s&p has exceeded expectations. this year, it is expected to increase 10%. not just this quarter, but next quarter as well. then, everybody is talking about a.i. we're looking at really two things driving a.i.

significant government spending totaling $2 trillion over the next ten years with inflation reduction act and chips and science act and the overall excitement of generative a.i. we are looking at some of the really more value plays outside of the growth suspects. >> take us through the shopping list. >> sure. the first is travelers. you know, they were leveraging a.i. to ouautomate the claims process to reduce expenses. that is the first issue with a.i. definitely benefitting not just currently, but long term. the second one is walmart. they made significant investments in technology that will idecrease their expenses ad be better for the boughttom lin overall. these are two stocks you don't think about with a.i., but definitely benefitting from the a.i. play.

>> tiffany mcghee, thank you. >> thanks, dom. all right. checking on futures right now ahead of the big inflation report. you can see the dow is implied lower by 8 points. s&p off 8 and the nasdaq off 55. a bit of a holding pattern right now. stay tuned. "squawk box" picks up the market coverage right now. good morning, futures are relatively flat as we await the key inflation data. we will tell you what it could mean for the fed's rate path. guilty on all counts. former president donald trump convicted on the hush money trial. we will talk about how it impacts the campaign and fund rai raising. we will run through the big post earnings movers and what is driving the separation in retail stocks. the divergence. it's friday, may 31st, 2024 and "squawk box" begins right now. ♪

good morning, everybody. 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. as dom mentioned, we are looking at futures that are a little bit weaker this morning. this comes after the down day in the markets yesterday. the dow posted the worst performance in the month of may and getting in on the last trading session today. looking down 1%. the dow is closing in on its worst week in about a year. right now, it is down about 2.5%. this morning, the dow futures are indicated off by 11%. by 11 points. nasdaq indicated off 52. the s&p down 8. if yyo