it is 5:00 a.m. at cnbc global headquarters and welcome to "worldwide exchange." here are your "five@5." it's the main event, and the countdown is on to nvidia earnings. this is a critical report for what some have called the world's most important stock. and futures are higher ahead of the results, the dow closing with its 24th record this year as investors find other alternatives to tech. in addition to nvidia today, you have crowdstrike and an earnings report that will likely be overshadowed by lingering questions over repercussions

from its global i.t. outage. plus, warren buffett sells more stocks as his own company nears a milestone. later, delayed again. spacex pulls the plug on what was set to be a historic space flight. this is wednesday, august 28th, 2024, and you're watching "worldwide exchange" on cnbc. ♪ good morning. so glad to have you with us this morning. i'm contessa brewer in for frank holland. let's kick off this hour with a check on the u.s. futures with the dow closing its 24th record close of the year, the s&p 1% away from its own intraday all-time high. futures green across the board. the s&p 500 by 20 points higher and the nasdaq futures are up

38. as we track the big tech, we're looking at financials and consumer staples, and both of those sectors are up some 8% or is in the past three months sitting at fresh all-time highs. you've got names like jpmorgan, american express, walmart, and costco reaching new heights and really driving those gains. there we're seeing some of the stock moves this mornings. the most remarkable one is walmart, which is only moving up about a quarter percentage point in the early trade. also watching bitcoin this morning. it's hitting a one-week low and falling below $60,000. bitcoin is off. you've got ripple, ether, and bitcoin trading. dan murphy is in the news room with all the early action there. hi, dan. >> hey, there, contessa, good morning to you. as we pull it out, let's look at how markets are trading across

the region here because its is calendar right. market investors not just here in europe but worldwide are asking would bit a green light for further global market gains? as it stands right now. london ftse is the only index down 0.05%, holding above the flat line. they've been performing a little better than some of the other stocks, by better than 4.1%. and german index climbing by one half of 1% as well. trade is really light as we countdown to the main event stateside. let's show you what let's moving in sectors. it's banks, retail, oil and gas, and basic resources pulling markets here. basic resources down by almost 1%. but its insurance chemicals and strocks have been helping to

drive market gains. contessa, with that, back over to you. >> have a great day in europe. let's get to our top story. as you mentioned, we're watching shares of nvidia and they're getting ready to post their quarterly results at the close of today. it's less than 10% away from hitting an all-time high. that could all change today with option prices showing traders bracing for a near 10% swing following those results plus or minus. cnbc senior technology reporter arjun kharpal with key things to watch. good morning, arjun. >> good morning. as you said, expectations are extremely high as well. the market is looking for it to be up, 12% year over year. investors are looking for net income, a rise of 137%. so big growth expectations here.

and all eyes, of course, will be on that key data center business, which analysts expect to pull in just over $25 billion in revenue and show 143% growth in the quarter. the guidance really will be key here, i think, for the stock's fortune. nvidia will show a strong beat on the october forecast, which the market expects tojust under $32 billion in revenue. we've heard noises from big tech firms like microsoft and google that they're continuing to spend on ai, which bodes well for nvidia, but investors will be looking to see if the demand for chips remains strong. the other focus will be on blackwell. this is the next generation chip set that there could be production delays to blackwell and investors will be hoping to hear more and whether this could impact growth in the coming quarters or whether the current product will pick up some of that slack. expectations are high, but nvidia continues to have a number of tailwinds behind it

including strong demand and supply constrains which would help to givepricing power as well as limited competition at the moment even as amd steps up its efforts. big expectations here, contessa, for this giant of a stock at the moment. back to you. >> and yet there's so much sort of skepticism that's percolating throughout the markets about whether ai in general is a bubble and is about to burst. there is so much pressure on nvidia to sort of lay the groundwork for the whole industry at this point. what else could nvidia say to make investors feel like ai still has room to run more generally? >> i think one of the most positive signs is that we've heard through this tech earning season from the so-called hyperscalers, amazons, googles, microsofts of this world they continue to expand capex, and a lot of that is going into servers and their ai cloud computer services.

so i think the key hoar for nvidia, a couple of points. one is to show that that demand continues to wree main strong, and that's where the guidance not just really for the october quarter coming up, but for the coming quarters ahead remain strong, but also for the company to talk about its next generation blackwell chip and show that actually the delays perhaps aren't as bad as the market had feared at this point because as competition continues to exist namely from the amd at this point, the market is going to want to see that nvidia, which has gotten into this leadership can continue to maintain that lead going forward. and when large companies like amazon, google, et cetera, are looking to buy these gpus, that nvidia is the company they're going to go to. i think those two things, the guidance and sort of more commentation around black well and delays there and hopefully fewer delays in the market are expecting, those are going to be the things that give investors hope and onlity michl going

forward, contessa. >> right now the shares are up 2 1/2%. you have the nasdaq futures up by 1/15% of a per sent. nvidia may have an outsized impact on markets there. let's bring in the ceo of kadenia & company, a hawaii-based financial adviser with a billion dollars in management and a previous member of cnbc's 100 list. it ee great to see you this morning. what are you looking for in terms of nvidia and the way it forms your investment strategy? >> aloha, contessa. so great to be request you folks. it's difficult to recall a time when a single company commanded

so much attention and for the long period they have commanded that attention. what we're looking for is what your previous geftd said. it's the forward guidance and the growth behind these astronomical valuations and numbers that we're going to be paying a lot of attention to. nvidia just by the half waiting on s&p 500, 6.7% tends to swing the earnings of the broader market to a total of 4.2%, 4.3% of the overall broader market earnings. and so when you're looking at the overall earnings of 12% plus, so that's super critical at this moment. >> does it give you confidence? if nvidia comes out and beats expectation and gives you positive forward guidance, does that give you more confidence in

the mag 7, in technology from which we've seen some hedge funds and big institutional investors selling off? >> i do. you know, i believe that as that ai enthuse yachl is here to stay and still has a lot more room to grow, at the crust of it is evaluation. what kind of growth can we expect going forward and that will determine whether or not that's a good buying opportunity or whether it's a hold and wait for clearer signs ahead. so that forward guidance, i can't emphasize that enough, it's super critical in this earnings report. meanwhile we've got a lot of o pressure on the fed, the expectations of a cut coming in september. epc data comes out on friday, and, of course, next week, a massive jobs report, very impo important. for your clients and for your strategy, what's the data point

that's most important? >> the markets are also -- you would think they're only watching nvidia. they're legaling at the dueling mandate. that's to keep unemployment hoe as well as inflation low. we could be going through a period of time when those two mandates are actually conflicted. i think the market is anticipating what the federal reserve will do in that period where you might have employment numbers coming in weaker than expected. i want to stress that the key that we're looking at, though, is consumer strength. consumer is responsible for 70% of our economic growth. so the health of the consumer as it pertains to its ability to continue to consume and spend is critical in this moment. whether it's any monetary policy or proposed policy or taxed

policy can stretch the consumer even more, increases in capital gains, tax rates and corporate taxation could stretch the consumer beyond its ability to continue at this growth pace. so we're watching for all of those policies. i wish i could give you one data set, but we're just in a period of time where it's not c contingent on the one point. >> thank you for joining us. ma how low. >> thank you, ma how low. for more, you can head to cnbc.com for more analysis. first, it's not just nvidia. we're looking ahead to crowdstrike earnings. that conference call may be more important than its earnings because questions remain over the i.t. outages that affected businesses around the world.

plus, the ceo of shipping giant maersk. we have a busy hour ahead when "worldwide exchange" returns. what is cirkul? cirkul is what you hope for when life tosses lemons your way. cirkul is your frosted treat with a sweet kick of confidence. cirkul is the effortless energy that gets you in the zone. cirkul, available at walmart and drinkcirkul.com.

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once again hitting the pause button on a historic launch. >> spacex once again delaying the launch of a rocket carrying four private astronauts. poe lair riis being scrubbed due to weather after helium forced a cancellation of tuesday's launch attempt. spacex has not said when it may try for another launch mission when it's said to air the first civilian spacewalk. berkshire sells more bank of america shares. it's made a $5.4 billion in profit. this as berkshire itself is on the cusp of joining the $1 trillion club, the market class of the conglomerates class ashrs now stands at $987 billion, and the nfl is opening its doors for

private equity to take a stake in teams. the league's owner is voting to approve a plan to allow certain firms to buy up to 10% in any of the 32 franchises. now, initially approved firms include air force management, six tree partners and a group nicknamed the avengers that include blackstone and the carlo group. be sure to join cnbc and boardroom game plan conference on september 10th, digging into the intersection of business, sports, and entertainment. scan that qr code on your screen or visit cnbcevents.com/gameplan to register, contessa. >> i'll be there. it's sure to be a lot of o enlightening guests. global logistics giant

maersk formed a partnership with nike. according to mckinsey, there will be a $50 millionmarket for shipping with a reduction of greenhaus gas emissions. that's still roughly only 2% demand. maersk says they can reduce greenhaus gas emissions by 40% to 80%. maersk's ceo spoke with frank holland about it with retailers already starting to get inventory levels ready. >> vin sent, i also want to get your outlook on the holiday season. here in the u.s., warehouses start filling up sometime in september, early october with holiday goods. many of the retail goods are your customers. what are they telling you about their needs as opposed to asia in previous years? >> we're seeing is resilient

economy with strong volumes, strong demands. we've seen a solid demand for goods. a lot still coming from asia, albeit less the from china as we've seen in less years. they're picking up a larger part of the share and we're seeing an overall aggregate demand that continues to be strong and points toward a fairly resilient u.s. economy mere for the holiday season. >> how do you describe the demand that your customers are going to need this year compares to previous years? >> so we're expecting this year we've seen in the first part of the year significant growth in the u.s. market. there was an inventory correction on the base last year. this is gradually coming down as the comps are improving, but we continue to see an underlying growth between 3% and 5%. we continue to see it in the global economy. >> and you can see the full

interview with the ceo of maersk at cnbc.com including the dispute with canadian workers and the railway operators and the digital transformation of world ports. >> ahead on "worldwide exchange," your big money mover, idd a chip stock not named nvia that's surging 20% ahead of the open. your morning mystery chart revealed after this. with dynamic charting and a futures ladder that lets you place, flatten, or reverse orders so you won't miss an opportunity. e*trade from morgan stanley what is cirkul? cirkul is the fuel you need to take flight. cirkul is the energy that gets you to the next level. cirkul is what you hope for when life tosses lemons your way. cirkul, available at walmart and drinkcirkul.com.

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this wednesday, and it's time for the big money movers. three stocks moving. the retailer nordstrom handily beating wall street estimates for its most recent quarter showing efforts to cut costs or starting to show up on the bottom line, but nordstrom issued weaker than expected full year guidance as it deals with soft demand for luxury goods. still in the extended trade, shares up more than 8%. shares of tommy hilfinger and calvin klein parent pvh corp dropping in the open, offering a gloomy look. those shares are about the same, down by about 8%. pvh sees third quarter adjusted earnings coming in at just $2.50 a share versus 3 bucks by analysts. strong consumer engage management and a better product assortment will lead to more full-priced selling and less end

of season clearance sales. and that mystery chart i told you about, it's ambarella. it posted upbeat revenue guidance for its current third quarter and beat street estimates in the last quarter. shares up almost 20%. its ceo says the company is benefiting as revenue ramps up from certain customers and the growth of artificial in intelligence willboost its business. that's a notable move. coming up, get set for a busy day of earnings and the one big number you have to watch for which when crowdstrike, salesforce, and nvidia report. if you miss "worldwide exchange," you can check us out on spotify or other podcast apps. we'll be right back. kick of confidence. cirkul is the effortless energy that gets you in the zone. cirkul, available at walmart and drinkcirkul.com.

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this is wednesday, august 28th, and you're watching "worldwide exchange" on cnbc. welcome back to "worldwide exchange." i'm contessa brewer in for frank holland this morning. let's pick up the half hour with a check on u.s. stock futures. the dow, of course, coming off its 24th record close of the year. this morning hovering around that flattish mark, the implied opening up by to points. you've got the s&p 500 implied higher and nasdaq futures up by 31. let's take a look at some of the biggest laggards on the nasdaq 100. you've got super micro computer, the ig best drag now, following a report from short seller hindenburg research, claiming among other things, that there was accounting manipulation at the server maker. right now shares of super micro

are off by 2.5%. and there you're seeing some of the other big movers of the morning. as we continue to track the rotation out of big tech, we're looking at financials an consumer staples. both of those sectors are up at about 8%. you're looking at names like jpm jpmorgan, american excess, walmart, costco, and coca-cola sitting at fresh highs and really helping to drive those gains. this morning the biggest mover is walmarts up by a quarter of a percent ja now what's being touted the most critical event for both the tech sector and broader market, nvidia reporting second quarter results after the close today. it continues to rake in money thanks to its dominance in ai chips. on its last earnings call, they projected they would see $28 billion in revenue and margins

of 75%. if it hits that, it would more than double revenuier on year and quarter to quarter growth will have slowed over the last four months. joining me now is my next guest. nvidia is among the top five funds you manage, richard. you're watching this closely. what are the headwinds you're going to be looking for? >> yeah. you know, i'm not sure who's impatient. my young son is celebrating his birthday tomorrow. you have chips to boards. they can capture a lot more data center content. there's been a lot of debate around blackwell. i think from this results call, we get a little bit of comfort

there. we're not really debating demand and the kmerps are going to wait for that and that should drive strong growth into next year. >> when you're looking at the chatter that's happened around delays and speculation on the blackwell chip, how big of a hiccup could that be for nvidia? >> it sounds relatively minor. it sounds like there's going to be a bit of a respin, but the full rack offering required liquid cooled data centers is going to take a bit of time. we're going to need a little bit of comfort. there's going to be no air pocket if there's a few months of delay. but that doesn't seem to be the case. they're taking a step back. demand isn't the issue for nvidia, which in the world we're living in in the moment is a nice problem to add. if we can fill it with hopper chips and they're integrating a chip into china, which is ramping up in the second half too. and if customers are going to wait for the black well chip for

next year and they preview much of the capital spending into 2025, again, that still seems to be a pretty good setup into growth next year and the debate will move into what can we think about in 2026. are we going to see the return on that. is that going to be able to sustain into 26 and beyond. >> if nvidia has built such a competitive moat around its products and services, is there or should there be a rising tide lifts all boats sort of reaction for other chipmakers, other investors invested in ai? >> as you say, it's so strong particularly in trading. they don't do just chip. they have other things. it's very hard to compete with that. ultimately we spend billions within nvidia. you're not doing that for fun. you're doing that because you're

launching some great ai-generated service. you're going to need inferencing, and that's where the opportunity is for everybody else. that may be the amd or other products. as they scale out, we are going to see more opportunity come and more spending come in the areas where it's not quite so strong in this room for other players. goldman sachs has analysis indicating that hedge funds and big institutional investors have sold out of big tech. given the outflows there, is the barlower for nvidia with this earnings report? >>. >> you'd think so. i think we've had this conversation around the last couple of quarterly reporting for nvidia. coming back to patience and my soon-to-be 10-year-old. i remember it's like transferring money from the patient to the impatient. you've got a major compute wave

where it's only been two years since the launch of chatgpt. we're going to be in strong periods. it won't be a straight line. it won't be linear, but we're starting to see improve points. there are some strong years ahead. we did post the launch of the iphone. that didn't get captured within a couple of years. this is an opportunity to embrace a very new technology, and that should reward the winners for many years to come. >> richard, thank you for joining us. give a shout-out to your soon-to-be 10-year-old son as well. have a great day. >> thank you. a market flash for you on elf beauty. shares possibles after they authorized a new $5 million share buyback program. that's going to be beautiful. the company's cfo says the move reflects elf's row bullet cash flow and calls it a means to drive long-term share value and the shares are up more than 3.5

preponderance in trade. coming up, the b net energy ocwes fargo says it could cap the race around lng. that name when "worldwide exchange" returns.

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welcome to wednesday. time now for your morning call sheet. morgan stanley upgrading its price target on one of your morning's big "money movers" ambarella on the back of quarter will i results. it goes from $67 to $73.

morgan stanley says it continues to be excited about the company's long-term opportunity around ai and the automotive space, and those shares up 20% in the early trade. wells fargo named conocophillips a top pick in the liquefied natural gas space. it says the company could be a big benefactor of robust global lng space relative 2030. we're seeing shares flat in the early trade. and hsbc upgrading its rating on moderna, holding the company's vaccine and is reading the competition in the space. there you're seeing the shares up almost a full percent in the morning trade. let's get your global briefing now. hsbc's new ceo is reportedly looking to cut layers of middle management as part of a plan to streamline operations and reduce costs. bloomberg says george elderly who replaced knownoelle quinn o

monday is expected to cut gains across the network and make changes to the executives who report to him. a spokesman has declined to comment. the shares off by a quarter of a percent. shares rising to the highest level in korea in a month. the company hyundai announced a $3 billion buyback and promises to increase its lineup to 14 and launch its first extended range electric vehicle. and shares of jd.com climbing in hong kong. they're up 1.7%. the online retailer unveiled a $5 billion buyback. it's the second for the company this year, and that move comes just days after walmart revealed it is selling its stake in jd, which reportedly is worth 3.7 bil billion. that sent shares tumbling. ahead, the one word every

investor needs to know today, plus the key number to watch in a flurry of earnings due today including crowdstrike. this is the first report we've seen since that ssmaive global i.t. outage. a lot of questions about the repercussions. we'll be right back. 's bounty hw thicker fuller hair with just one capsule a day. you are bountiful, it's in your nature.

welcome back. we're set to get a number of big earnings reports outside of nvidia today. that includes crowdstrike with

its first results since last month's global i.t. outage including affirm, salesforce, and abercrombie & fitch. we start with kate rooney and a closer look at affirm. >> so the number one thing to watch for affirm in terms of earnings after the bell is going to be gross merchandise volume where gmv is going to be looking at buy now, spend later. looking for earnings of $6.87 billion and guidance is going to be big. one possible area of upside is affirm's partnership with apple, telling clients that apple's partnership with the firm could drive $12 billion or 35% growth versus consensus results. it could be gaap-profitable. following the apple pay announcement, we believe this

potential upside is not reflected in the stock. reiterate, buy on the stock, price target of 65 bucks. these more than double where the stock is trading today. you have delinquency. the firm has not seen any uptick in delick lynn quincys despite the caution of consumers. and it could affect guidance. >> abercrombie & fitch keeps imagining to keep beating wall street's all-time expectations. they keep watching to see if i that could do it again. when they report later this morning, analysts are expecting to see shares of $2.22 on sales of $1.8 billion. as always they'll be focused on laser focused guidance to get a better idea how long this ground story will last. in may it's expecting full-year

sales to grow 10% on top of a 16% growth it saw in the prior year, however, now analysts are expecting abercrombie to guide at least 12% growth on year. to get there, abercrombie has been working to grow sales on its holster line and build out the international market. it also recent will i debuted a bridal collection. investors are hoping for bounceback quarter. after its last earnings report, the stock plummeted 20%. on second quarter guidance it fell short of analysts' expectations. now saelgs force is expected to report 7% growth and 11% growth in earnings per share. analysts are looking for full year growth to accelerate to 20%. investors are looking for margins improvet at the company and ai initiatives.

and while nvidia is in force, sales force will be the key gauge of i.t. spending and appetite for software spendings. a majority of analysts are bullish on the stocks. 75% have a buyer over rate rating, 24% have a hold and there's only one underweight rating on salesforce shares. its will be your shadowed by the continued fallout from the massive i.t. out amg in july that took out more than 8 million computers worldwide. shares are down 20% since that outage hit on july 19th and the fallout is still far from over. on september 10th. they'll be meeting at microsoft headquarters along with other cybersecurity firms to prevent future mishaps like this one. on top of that, delta arms who lost days of flights is ask for crowd strike and microsoft $500 million in damages.

it hired the high-powered lawyer david boies to lead. the response is crowdstrike was not up to date and it says crowdstrike is only held to limits. it includes how much limitation and damages it expected and how it plans to keep the customers after the outage. contessa? >> steve kovach and the bevy of reporters that we have here. let's talk more about crowd strikes earning report. with me, peter. peter, you have a price target here a that was lowered 325 from 350. you still have crowdstrike as an outperformer but you added it to your outperform lifts. explain how readers should read the guidance. >> sure. our call is it's a tactic call

into the quarter, so directionally, you know, given the uncertainty with crowdstrike, trying to understand what the numbers look like over the next call it 12 to 18 months, we're taking a stance there's a better risk/reward opportunity depending on what they give us in terms of numbers. >> how important is the earnings report itself that indicates what happened in the quarter and how would you compare that report to the importance of the earnings call and what gets said in answer to analysts questions? >> sure. contessa, i think you said it earlier. this is the first time we hear publicly from management. i don't think q2 is much of a concern. the incident was fikes, six days until the quarter ended. it's very more so the second half and next year. they have 30,000 customers. they have 600,000 plus customers paying a million dollars very

more. management is going to have the make sure -- how will they -- i guess what i'm trying to say, there's going to be price concessions, and it's going to take time to work that through and understand how customers are behaving from our work leading into the prijts. you know, it sounds like customers are a bit upset. i don't -- we're not taking the stance that customers are leaving, but we're taking the stance there will be price concessions. they reported last night and they're a direct competitor, and commentary from management made it seem there are customers that are in their pipeline coming from crowdstrike, so it would be an indication they're perhaps still in flux. >> i would say when we saw outages at mgm reports, a company i covered last year with a cyber intrusion, what we heard on the earnings call is what their expectation was for insurance kicking in and covering some of the business disruption that happened, and we may get some of that color. have you been able to determine

how much of this lands at crowdstrike's feet and how much of this may get picked up by their policies? >> sounds like it's mostly going to be on the policy side. it sounds like crowdstrike is going to be protected for the most part. there will be payouts for sure. delta, and there will be one-off cases. for the most part, customers were back and running within 24 hours. a lot of them have a 12- to24-hr period. >> what's the big effort thing crowdstrike can stay that will invest enthusiasm for the stock itself? >> oh, wow. that there wasn't any real financial impact. you're not going to see a hit to margins, cash flow. the directory is not going to be impacted. but i doubt that will be the color that they brought us. >> what's your prediction? >> it's going to be ar.

net new ar growth and then any incremental color they can provide in terms of calendar -- you know, calendar 25, their fiscal '26 year is just trying to call it derisk the numbers as much as they possibly can, but i still think it's a little too early to predict the behavior of all these customers, you know, this early on. crowdstrike shares up by a third of a percent in the early trade. peter levine, thanks. a programming note. george kurtz will be on with jim cramer on "mad money" at 6:00 p.m. eastern time. coming up, ndivia, massive results and the ramifications the earnings could have on the broader markets. we'll be right back.

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w.e.x. wrap-up, the options market bracing for potentially big swings on the back of in nvidia's results. traders will move 10% in either direction the day after the report. shares are up half a percent right now. warren buffett's berkshire hathaway releasing more bank of america shares. it's made $5.4 billion in profit. bloomberg reports apple is cutting about a hundred jobs in

its digital services position. it includes layoffs in the services team like the one that runs apple news. shares of nordstrom popping in the premarket after beating street is the i mats for its quarter, up more than 8%. despite its strong beat it issued weaker than full year guidance. box inc. shares are up 8%. box's co-founder and ceo will have more on "squawk on the street." spacex delays poe lair riis dawn launch. it hasn't said when i may try another launch for that mission. nvidia results are looking

at the next big catalyst. you can see we're seeing green across the board for the futures. the s&p 500 up by -- it looks like we're implied to open higher by five points, the dow jones at 121 and nasdaq at 18. for more let's bring in a cnbc contributor and early riser. victoria, great to see you this morning. >> good morning, contessa. >> how much are you looking at nvidia and how -- and this is your word of the day -- consequential will these results be? >> massively consequential. look at what the market's done in the last two days and where it's going. it a is going. >> where. everyone is waiting on nvidia. it's the second largest cap-weighted stock in the s&p. 6.6%. this is consequential. you talked about the price move being optioned in friesing markets, and you talk how nvidia

goes. this stock matters. i ooh bell surprised if the markets move at all today. we're all going to be waiting for after 3:00, 4:00 p.m. eastern for what they're going to say and if they can beat it and keep the ai running. we have crowdstrike, sales force, hp reporting after the bell. of those, which are you going to be looking for for future strategy? >> for me, i'm looking a little bit at hp going in, ai chips. for salesforce, are they going to see enterprise growth? box has a little bit of life there. maybe salesforce can shed a little more. enterprise growth beyond ai since that's where all the prietss has been going. can this tech trade continue to run? we're getting a lot of results after the bell, okay, can tech regain its momentum or lead?

chips have really been struggling, so they need nvidia to deliver,ed a not only deliver a beat of $30 billion, but they need that guidance raise and black well to save the day, absolutely. >> do you continue to see it from mag 7? >> i do. we're going into a different era. we're about to enter the rate cutting period. we like to have that shift in there, quality dividends. you've seen equal weight forming better. i do like to diversify away from the stocks. it's okay to own some of the other 493 and they're starting to perform better. it is a regime shift. any time the fed shifts policy from a hold to a cut, i think it's important to make sure your partnership is positioning for periods when it typically favors more value than small growth. however, i do caution, we've been saying this is a 94, 98 rate cycle.

we could continue to ceatec continue to run like it did with the dot-com era, but again we're playing the odds here. we like financials, we like industrials, we like other parts of the market. >> victoria greene, thank you for joining us this morning and thank you for joining us as well. our dow futures holding city, but basically flattish. "squawk box" starts right now. good morning. the market ice's waiting on nvi. the chipmaker is set to report results after the bell. we will have a preview. warren buffett selling more stock. berkshire hathaway trimming more shares of its top holding. which one? we'll tell you. and nfl holders letting more players into the club, with deep pockets, looking to spread the cash around the fielding. it's wednesday, august 28th, 2024. "squawk box" begins right now. ♪

good morning, everybody, and welcome to "squawk box" right here on cnbc. we are live from the nasdaq market site in times square. i'm becky quick along with joe kernen. andrew is off today. all right. we're watching to see what's happening with u.s. equities. >> how does it happen ? >> that we match? >> yeah. it happens so often. is that orange? >> orangey. close enough. >> great minds. >> we did not plan it. >> i think it's evolution because we've been sitting together for your so long. >> yes. scary. work wife. let's take a look at what's been happening with the equity futures. dow futures up by 25 points,