it is 5:00 a.m. here at cnbc global headquarters and here is your "five@5." a record week under way. wall street set to open at fresh all-time highs as investors look for a rally. and a chip space with nvidia making history all of its own. becoming the most valued u.s. company in history. from new york to the great lakes, record heat is sweeping across the country. more than 175 million people are facing excessive heat warnings. we will tell you what it means for one of the hottest sectors

in the market. plus, elon musk backtracks on sharp comments from advertisers that have abandoned x. and the trifecta in europe capped off by the bank of england. it's the first day of summer. yo it's thursday, june 20th, 2024. you're watching "worldwide exchange" right here on cnbc. ♪ good morning and welcome to "worldwide exchange." thank you so much for being here with us. let's get you ready for the trading day ahead. we kick off the check of the u.s. stock futures. with the s&p and nasdaq hitting all-time highs and pushing deeper into record territory today. futures in the green today. the dow would open up 35 points higher. looking at the nasdaq, the strongest performer in the pre-market. we will talk much more about that. part of that is nvidia back be becoming the most valuable

company in the u.s. we'll have more on the run in a moment. you see it there. nvidia's market cap of $3.34 trillion. most valued listed company in u.s. history. we have economic data and initial claims and existing home sales. benchmark at 4.25. retail sales caused this to pull back. disappointing to the down side. yields pull back slightly. that's the money set up. we turn to the action overseas and a busy action in europe with the three central bank rate decisions. two down and one more to go. we have silvia amaro in london. good morning. >> good morning, frank. we are seeing european equities in the green. all of the major boards are trading higher at this stage.

we are seeing more momentum in france and italy as we await key central bank decisions. today is super thursday here in europe. the swiss national bank has already announced it is cutting rates by 25 basis points for the second meeting in a row. it is reducing its key policy rate to 1.25% and the norway central bank held steady saying it expects rates to stay at the current levels for the rest of the year. the bank of of glengland will re rates later today. it is expected to keep rates on hold despite the target yesterday. you have the moves in the currency space in the wake of the announcement from the snb. we are seeing a weaker swiss franc. do t dollar is higher at this

moment. we are seeing downside momentum in this space. we have sterling/dollar at 1.26 francs. ear earlier, it was 1.27 handle the. a little bit of pressure on sterling. let's see what will happen, frank, when we get the central bank decision at lunchtime london time. >> weakening to the dollar if the central bank continue to make cuts. you will have a special today. thank you very much. back to the u.s. stocks likes nvidia and other tech names that power the s&p and nasdaq to new records may be looking for a pullback. names like nvidia, microsoft, apple and broadcom and eli lilly are overbought at 33%. let's bring in tom hewlitt with

more. good to see you. >> good morning, frank. tr thanks for having me. >> note from bespoke say these stocks are looking for a pullback. looking at nvidia and rsi of 813. microsoft and apple of 74. anything over 70 is overbought. this overbought status. does that mean you want to trim? >> we are an owner of nvidia, microsoft and apple. we do think the stocks have run up quite a bit this year. we are confident there will be a continuation of the momentum in the tech area, especially given all the innovations in a.i. which demonstrated some of the leadership in the market right now. we're going to continue to hold these stocks and probably add to them. >> if people are watching, go to the cnbc stock screener for the rsi numbers. i want to go to the other places

to put money in right now. one is in the energy space. you said last year energy was a dirty word, but it switched around. looking at an the data and power demand is expected to move. why is this the right stock to buy right now? >> we own eaton. the ticker symbol etn. they are very important with data centers and energy companies with data transition. a lot of people are talking about the importance of power demand with the iterations of a.i. for example, an a.i. chat search uses ten times energy as a google search. we need to see how much energy we need to get to the data centers which are soaking up the data demand. that's why we like eaton. >> the other stocks are health insurance. earlier this week, we got retail

sales. surprise to the downside. even more so if you take out autos. down 2%. excuse me. .1% with the estimate of .2%. a lot of issues with the co consumer being stretched. you gave us a couple of companies. elements and health and people buying clothes. dick's sporting goods. are you concerned the consumer is too stretched for some of this? they can't continue to pay higher insurance premiums and continue to buy with the way things aring going? >> it is a good point to make that the consumer is overstretched. if you look at some of the data we have, we think the consumer is not overstretched. take for example you are locked into a 3.4% mortgage. maybe the debt levels for the consumers are not too high. they are taking consideration on the big-ticket items.

it is important to know that if the consumer slows down, that may be one of the risks in the economy. we don't see that right now. the economy is doing really well and as an active manager, we have to look for signs like that. we are directing our clients in this market. >> not a concern of the canary in a coal mine? >> frank, the consumer is still healthy at this point. we see signs of stress, but they are healthy. >> tom, thank you very much. >> thank you. >> for more on the stocks that bespokes says is overbosught, head to cnbc pro. lot more on "worldwide exchange," with the one word that investors feel you need to know today. and why the majority of companies within the industries will not last another decade. plus, it is not just records on wall street, investors are

looking at record temperatures sweeping across much of the u.s. the more than 170 million americans facing heat warnings today and one at the key sector of it all. and later, more on the surge of nvidia. we have a very busy hour still ahead when "worldwide exchange" returns.

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higher hitting the highs of the morning. the nasdaq. it is all about the nasdaq. the nasdaq 100 pre-market gainers. nvidia at the top of the list. shares up 3.5%. it is going to be added to the xlk. that is giving the chip maker a boost. micron is coming in at the number three spot. turning back to the show now. deal making. the landscape following the signs of ta sluggish 2023. value is up nearly 30% from the same time last year. optimism with rate cuts is driving the deals. as the markets continue to notch all-time highs, more conditions are companies are looking to go public. we have kevin here with us this morning. >> thanks for having me, frank. >> your data shows that deals are up 30% from a year ago. $535 billion overall.

what is the catalyst? what deals are driving this rise? >> it is interesting. we're seeing a little bit of a bar bell here. we are seeing more deals, deals more than $10 billion in the last 12 months. proceeding through april, we had more than any for the last decade. we are seeing the desire for more transformation. there are the a.i. boosts to a lot of this. technology. recurring revenue basis. >> we mentioned a.i. you are seeing a lot of the a.i. companies don't want to go public. they don't want to enter the public market because they are getting private equity money. what portion of the companies driving the deals are in the a.i. space or they get money from the private equity investment? >> i'm counting those as well. >> that sis a big part of the catalyst. >> i think the general economic -- ceo confidence is picking up as well.

there is a strong correlation with confidence and deal volume in general. as the ceo confidence has picked up and rate uncertainty is coming into focus, not that we're quite there yet, but as it comes into focus, it is bolstering the appetite for more deals. >> 64% haven't made a major acqui acquisition. i know we're talking about deals overall. looking at small caps under performing, in this environment, higher for longer, is that the direction some of the deals are going and looking to be acquired by larger companies? >> i think that is definitely a direction of travel. if we look at private equity alone in april, there were four

over $10 billion. i look at the desire to do business and the people and infrastructure required to help transform. i think most of the ceos would say in our survey, 82% of ceos would say without some disruption to the business model, they'll be obsolete within the next ten years. >> it is not worth acquiring? >> i think they are looking to acquire to protect their core business through acquisition. >> i want to ask about valuation. a key factor with m&a. we have no real clarity when the fed will cut. a lot of companies in the public space have higher valuations than in previous years. what about the private space? how do valuations play a factor? >> i think that is actually what is still holding a little bit of the private equity money on the sideline is the desire for the bid to spread to narrow. valuations are tempering a little bit of the expectation of the rebound, but we are seeing the sharp growth.

>> kevin, give us a first look at your report which is released today. great to have you here. >> thanks, frank. coming up on the show, five months out from the presidential election and we put the the policies under the microscope. we are live in washington, d.c. with the latest coming up after this break. is it me... or is work not working? at least, not the way it could work. your people are buried in busy work. and you might be thinking... can ai make it all work? it can. on the servicenow platform, ai transforms your entire business. your people work better, your customers are happier, and todd... well... he's practically euphoric. practically. so, let's get to work. [thunder rumbles] ♪ ♪

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welcome back to "worldwide exchange." news alert this morning. five months low election day an look at the biden platforms. we have megan cassella in washington and emily wilkins has more. megan, good morning. let's start with you. >> reporter: good morning, frank. economists are forecasting that trump policies would hit the economy, but hit to higher growth by the end of the term. the report highlights two scenarios. either biden wins and the congress stays divided or trump wins and republicans sweep congress. if trump wins, analysis assumes he follows through with the sweeping tariffs and crackdown on immigration. both would push up inflation and boost chances of recession.

take a look here halfway through the term the forecast shows slower gdp growth under trump versus biden. the unemployment is a full percentage point higher. debt is rising and the fed is slower to cut rates. by the end of the term, there's been rebalancing. growth gets higher by the end of four years under trump largely due to corporate tax cuts. the cuts have driven up the debt and flinflation and unemploymen are higher. one look is the tax cuts and profits aring forecast to take a big hit under the trump scenario. the tariffs impact would likely outweigh tax benefits. it would drive up inflation to leave the fed to keep rates higher for longer. by the end, wages are growing faster and growth ends up equal

between the two. overall. frank, the report says the two scenarios are similarly likely, the impact on the economy, they say, would be meaningfully different. frank. >> interesting stuff, megan. i'm curious, they look beyond biden or trump winning. do they look at a divided white house and congress or other scenarios to play out? >> reporter: definitely. we are seeing a 40% chance of biden with a divided congress and 35% chance of trump and a republican sweep. the two other scenarios are less likely, but possible, is trump w wins with a divided congress. the trump and divided congress scenario is not far from the baseline of biden and divided congress. either way, both presidents would have to rein in the extreme impulses. trump doesn't have tariffs go up quite as high.

it is not too far the economy appears to fare slightly worse than the biden divided congress scenario. it is not so different. under biden and democratic sweep, it is a little bit of a tougher sell. there's more spending, but also some tax cuts to help pay for it. in the end, it ends up awash. pretty good for jobs and gdp. >> megan cassella, thank you. great to see you. great reporting. we stay in d.c. and look at the crypto industry which is a force in this year's election raising millions and ensuring that crypto is a topic thatignore. we have emily wilkins with more. >> reporter: good morning, frank. crypto companies are banding together to be a force in the 2024 elections. the effort is already having an impact on capitol hill and lawmakers there. crypto fairshake netted $160 the

million with major donations from coinbase and ripple. crypto stand with crypto signed up 1 million voters. fairshare is not planning to play in the presidential election. they are adopting a bipartisan focus on the house and senate races and they can make or break either chamber. pacs have spent $37 million so far in the primaries. that includes the california senate race where fairshake ran adds genagainst katie porter. ripple's ceo said now is the defining moment for crypto and his group and others are working to catch up in d.c. >> anytime you have a close race and a key issue where people will vote on this issue, the crypto voters are raising their hands saying we care and we will vote and have an impact on

elections. pay attention to us. >> reporter: pro-crypto candidates will determine which party determines the senate next year. you have sherrod brown in ohio who is facing off against bernie moreno who fundounded a lockcha start up. you have jon tester and tim sheehy. jon told "meet the press" that crypto doesn't pass the smell test. lately, tester does seem to be changing his mind with crypto. he voted to overturn s.e.c. guidance on crypto and he told me he is looking at a couple of crypto bills and called it 21st century stuff. interesting to see how crypto is playing on the hill and how it is work with the campaign group and bulking up ahead of the general election. >> really interesting how they

are targeting candidates on very specific issues here. curious, looking at bitcoin. trading at $65,000. how do crypto prices influence the elections and donate to the pacs? >> reporter: thie big question is is this legitimate and something they need to keep an eye on? i think folks in d.c. feel the answer is yes. you see the up and downs. sam bankman-freed with everything falling apart. they can talk and engage with policymakers on this stuff. they are trying to go through an image switch. showing they are the adults in the room and they are secerseri and this is not the wild west

and this is a cohesive message. >> emily wilkins, thank you very much. coming up, we have the full story coming up on musk versus advertisers. as we head to break, cnbc is celebrating pride month. here is ken mehlman. >> in our experience, diverse work forces engage better. we are proud of who we are and who we love and how we can expand the promise of life, liberty and the pursuit of happiness. (grandpa vo) i'm the richest guy in the world. hi baby! (woman 1 vo) i have inherited the best traditions. (woman 2 vo) i have a great boss... it's me. (man 1 vo) i have people, people i can count on. (man 2 vo) i have time to give

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it is just about 5:30 a.m. in the new york city area. there is still more ahead on "worldwide exchange." back on top. nvidia reclaiming the largest market cap. futures are suggesting it could happen again today. temperatures across the u.s. hitting their own records as tens of millions of americans grapple with dangerous heat. what the soaring numbers mean for the energy stocks. and higher for longer. tech companies looking to catch in on the a.i. boom. the fresh look at the csuite

when it comes to spending. it's thursday, june 20th, 2024. you are watching "worldwide exchange" here on cnbc. ♪ welcome back to "worldwide exchange." i'm frank holland. thank you for joinings. we will get you ready for the trading day ahead. we pick up with the s&p and nasdaq an of new highs. the dow would open up 50 points higher. nasdaq, the biggest gainer this morning, is on pace for more records. we are looking at the biggest gainers in the nasdaq 100 ahead of the open. at the top of the list, right at the top of the list, we are about to show you -- it will be nvidia, by the way. we'll talk more about nvidia. speaking of vinvidia, it is the most valuable market cap. it is set to widen that lead

over microsoft and apple today. you see it right there at $3.34 trillion. this morning, we are taking a look at the bond market ahead of the fed speakers and bond data. look at the bond picture. benchmark at 4.25. it pulled back a few basis points due to another economic report retail sales to the down side. that is the money set up. let's go to a developing story. the heat wave sweeping across the united states from the great lakes to new england. 125 million americans expected to be under excessive heat warnings. temperatures moving in the triple digits today. forecast showing a heat wave until next week. this sunday, washington, d.c. is expected to hit 101 degrees. topping the previous record of 98degrees. the temperature is nothing compared to the heat index. in the new york city area, temperatures are expected to hit

99 today. it will feel closer to 104 degrees. all this as tropical storm alberto forms in the gulf of mexico to start what is expected to be one of the most active hurricane seasons in recent memory. joining me for one at the sector of theheat of utilities is the senior analysts covering electric utilities. anthony, good morning. >> good morning, frank. hope you are staying cool. >> we're in the studio. i'm trying. hope you are staying cool as well. let's talk about the heat wave. what does this mean for utilities and the short-term and long-term? most of the utilities are regulated. there are unregulated utilities. how does it benefit or hurt them? >> i think the grid is ready. investment has been going on for

years. in the longer term, you will see all of us have become more electrified. all of our homes have air conditioning. i think it will be more of a tailwind for regulators to continue to invest in the grid. none of us deal with an outage now. you look at the temperatures. you cannot say it is a dry heat. index of 101 in washington, d.c. it will be hard for a regulator to push back on the regular utilities capital forecast. we love the rate base growth. rate base growth drives earnings in the utility sector. you see a base growth of 8% or 9%. in an event like this, it will strengthen that spending. >> let's talk about the unregulated utilities. we will show the audience charts in that space. constellation energy up. let's talk about what is going

with these stocks. these are unregulated utilities. >> absolutely. unregulated producers. you came from nvidia and talk about how much the market cap has grown, the a.i. demand has benefitted these ipps. idea being they will consume more power and build more power plants. if you think of nrg and conste constellation, they are a fleet of unregulated power plants, but this pricing boom on power and investors continue to believe they will be the beneficiaries. those are the stocks that are unbelievable this year. >> these ipps or unregulated utilities, have been the driving force of utilities to date. what about the rest of the group? we talk about a.i. and increased needs for energy. is that priced in with these stocks? is there something else to help them continue to move higher this year?

i'm looking at the philadelphia index up 9% year to date. >> frank, similar to the rest of the market, if you think of the concentration with nvidia and the tech stocks, you had great performance, especially the last three months. it has been concentrated in nextera energy. that is 25% or 27% of the index. the other names i would recommend and benefitting electrification of the economy, whether it be evs or the california utilities or michigan utilities are left behind. edison is a utility outside of los angeles. you are seeing more evs in that area. more electric fleets. that rate base investment will continue there. if you move to michigan, you have detroit edison. we have cms. regulations is balanced. attractive roe at 9% or 10%.

>> you are giving us a lot of stocks. i have to ask does your firm own any of the names you mentioned? >> no. none of them. we own none of them. we downgraded nextera. >> you may be the one person to make utilities interesting. thank you for the insight. >> you bet. stay cool. coming up on "worldwide exchange," how much elevated rates are looking to spend in the growing i.rma. as race. we are back on "worldwide exchange" in just a moment. ♪ ♪ or... some-thing. [ a.i. copilot ] glad you called, j. [ a.i. copilot ] it's time for an upgrade. awesome. ♪ ♪ [ inner monologue ] i knew what i had to do. because they never stop. no time to waste.

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♪♪ welcome back to "worldwide exchange." treasury prices easing the last month with the ten-year sliding from 4.6 in may to 4.25. the executive council survey shows the rates are having an impact with the tech spending. steve kovach is joining us more with the story. >> frank, we looked at the increased interest rates effect businesses on spending in technology. we asked a small group of people from the council to give us an idea of where that is going. the council, to give you context, made up of ctos and cios and other tech leaders at tech companies to make the decision on spending on i.t. that means computing and

cybersecurity and, of course, artificial intelligence. even with interest rates staying higher forego fllonger, we show spending with 48% which said they are not slowed down tech spending. that is an i amprovement of 31% from last year. others are cutting spending by a lot. 16% up from 5% a year ago and another 28% said they are cutting a little. still plenty of people cutting spending. these numbers reflect what we have seen over the last year from big cloud companies like microsoft and amazon. recession fears had everyone pulling back which slowed down the growth rates of the cloud businesses. a.i. has been changing a lot of that this earnings season. hp and dell showed fresh a.i. sales expected to grow. we have to wait until the fed

makes its first cut to see if the spending can accelerate. >> steve, interesting. steve kovach, thank you. coming up on "worldwide exchange," the one word every investor needs to know today and the ceo of fintech pioneer of what he hears from clients from wall mart on the back of sales. and elon musk looking to bounce back. his new comments and more when "worldwide exchange" returns. stay with us. >> don't advertise. >> you don't want them to advertise? >> no. >> what do you mean? >> if somebody is going to blackmail me with advertising -- blackmail me with money? go [ bleep ] yourself. go [ bleep ] yourself. is that clear? i hope it is. spot.

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you see they are up 1.5%. they are down 10% since the coo announced he would depart at the end of the month. u.s. consumers make up one-third of commerce buyers. payoneer clients are airbnb and etsy. we have john here with more on the subject. what are you seeing right now? we talked about the retail sales numbers this week. the consumer is under a bit of pressure. what are you seeing? >> what we saw is double digit, 13% growth, of the volume going to snb that sell on marketplaces. we had 19% growth in q1. we just had a survey of snbs all over the world. in that survey, we saw snbs are increasingly doing business in more countries around the world.

4% growth from 42% to 46% of global snbs choosing to do business across borders. >> small and medium businesses. we mentioned in ebay and etsy. what are you hearing from those customers across border commerce? cross border ecommerce includes other countries and bookings here in the u.s. >> you saw amazon and walmart with strong q1s and guided to strong 2024. airbnb is doing great. you see american consumers want to travel the globe for the summer have a anvacation. we are seeing the u.s. consumer trading down. businesses like amazon and walmart continue to be exceptionally strong. >> i want to talk about something else in d.c.

the ban on tiktok. a lot of younger people go on tiktok to shop. i'm not familiar. i buy things online. i buy three of the same thing and send back two that don't fit. how does that impact the cross border? >> it won't have much for us. one of the amazing fees of what tiktok has done, they introduced social shopping to u.s. consumers. entrepreneurs will find consumers. if tiktok is not here, there is something else. there are 200,000 businesses selling on tiktok. it is a great innovation. if regulators or lawmakers restrict access to u.s. consumers, i'm con ifi restrict access to u.s. consumers, i'm con ident that new unnov innovation will come u.s. >> another stock that comes to the xrt. ebiz out performing. ecommerce companies need more warehousing and logistics.

it is a higher for longer environment. why do you think the ecommerce is doing better than traditional retail? >> i'm on my phone 24 hours a day. i don't have time to go into the analog retailer. i think the market estimate is high single digits. i'm bullish on ekcommerce. >> don't people want to go to the store for the experience? >> they want to pick up things quickly and go out and live. >> john caplan, thank you for coming in. >> my pleasure. coming up, we tee up the trading day ahead and get into the beaten up transport stock that our next guest has the ability to get back on track. a pun there. if you miss us, check ousut on spotify or other podcast apps. more "worldwide exchange" coming up after this.

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welcome back to "worldwide exchange." time for the "wex wrap-up." a new rival a.i. company is built on safe stintelligence.

elon musk now back tracking at cannes lions on the tough talk for advertisers. musk claiming when he said go f yourself, he was talking about free speech. dell and super micro will come to an greet with x a.i. and watching shares of trump media extend the losses. the stock is down 6% right now. down 25% over the last week. this after it disclosed on tuesday, the s.e.c. will allow it to resell securities. families of the victims of the fatal 737 max crashes looking to fine boeing over the deadliest crime in u.s. history.

the attorney representing the 15 families suggesting $14 billion of the total fine if boeing uses it on a corporate monitor. the ferrari's first electric car could cost well above the average ferrari sale price. robert frank will speak with the ceo of ferrari tomorrow. here's what to watch today. weekly jobless claims and accenture and darden report with three fed speakers speaking today. as we mentioned earlier, the bank of of england meets today. back to the markets. they will look to build on the

gains with the s&p and nasdaq at record highs and it is the first day where nvidia will open as the world's most valuable company after passing microsoft on tuesday. joining me now is patrick fruzetti. good morning, patrick. >> good morning, frank. thanks for having me. >> very close to record highs right now. what is your "wex" word of the day? >> patience. you know, i think every investor should have patience. i think it seems like markets are at all-time highs, i think there are things you can buy in this market at reasonable value. >> i want to talk about something you sent to us. the common man cpi. retails disappointed a bit. what does this mean? why should investors pay attention to this?

>> my friends actually put this together. they look at the things the average person buys every day. food, energy, shelter, utilities, cost of insurance. those costs have stayed at an elevated rate. the last nine months, the common man cpi rate has been higher than inflation. that is something you have to look at on a regular basis because that's the thing people spend money on every single day. if you look at insurance, and a high growth state like florida, there was a recent survey where 12% of the people there thinking of moving because of the higher cost of insurance to live there. >> in your mind, does that mean certain sectors mean you stay away from the continuous pressure? >> some places like the discretionary sector. those are areas that could come

under increased pressure. in a market where inflation maybe isn't under control or as much as people think, you need to focus on things that are every day products and services. >> i want to get to your pick for us with the mystery chart. norfolk southern, a rail company, had a lot of issues in recent months and the last year overall. shares are down 6% year to date. >> overall theme of ours is near-shoring and on-shoring in the deglobalized economy across the world. norfolk southern under performed some of its peers for different reasons. recently, an activist investor was involved. they tried to get rid of the ceo. they were not successful. this is a self help story. they can easily cut low-hanging

fruit and cut some of the costs inherent in the business model. the operating ratio. the lower the better. they can get that down in the next year or two and it will be an attractive company. at the end of the day, rails are essential. it is an ologopy. you mentioned ecommerce and shipments and the more things are traveling in trucks and rails, the more volumes will increase. >> patrick, a quick check on the morning call sheet. we have stifel raising the price target on nvidia. something we're watching here on cnbc. i want to get a sense of your take on this with the price target moving from 114 to 165 citing longer term growth and

profitability. >> look, nvidia, obviously, is the largest company in the world right now. when you look at the concentration in the market, i think it is very difficult for that to continue for a long period of time. it has momentum at its back. again, i don't think it is exactly an analog to cisco in 2000. some people have mentioned that. from the valuation perspective, it is well beyond what they thought they would hit. to be concentrated in a name like that, that eventually that -- that will eventually reduce over time and i think nvidia is over valued at this point. >> are there other trades that are overvalued at this point even though it is close to all-time highs? >> overall in the chip sector, you should reduce. those are the things that are

beyond themselves. >> you are not alone in that perc perception. patrick, thank you. your pick today is norfolk southern. before we go, nvidia will open up as the most valuable u.s. listed company today. futures aring e moving higher. nvidia shares up over 3%. the dow would open up 50 points higher. that does it for us. "squawk box" starts right now. good morning. nvidia lifting stock futures again. especially the nasdaq after its market cap surpassed microsoft on tuesday to become the most valuable public company. inflation in the uk hit the central bank's 2% target for the first time in three years. don't count on a rate cut at today's meeting. that announcement is due in an hour. and elon musk courting advertisers after his harsh words at november's conference.

his comments straight ahead. it's thursday, june 20th. the longest day of the year in terms of sunlight. still only 24 hours. "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. andrew, hold up your mug for a second. i think i saw it in the corner of my eye. >> i knew it. >> i caught it. it's our "squawk box" mug. >> it's a new one? >> this is a mug that becky had made, if you