wall street pointing to a higher open as the dow eyes its fifth straight positive opening. big money, big bets. we we'll tell you where some of the most well known names on wall street are putting their money to work. and what warren buffett's right hand man said about bitcoin that is getting attention today. it's thursday, february 15, 2018, "worldwide exchange" begins right now ♪ good morning welcome to "worldwide exchange"

on cnbc. i'm dominic chu. >> i'm seema mody. >> what a big day it is. we had a massive reversal yesterday. all of a sudden it's carrying through into today let's check the global markets this morning starting with the u.s. futures picture we're seeing quite a bit of green across the board right now the dow jones industrial average will open up by 250 plus points the s&p by 21. the nasdaq up by 56, 57 points let's check on the ten overtreasury note yield because it has been a very big battleground for many traders. arguably one of the biggest driving forces behind the recent market volatility. interest rates now, 2.92%, multi-year highs for that longer-term u.s. treasury note we'll see if that stays the game given today's other big inflation data coming out, the producer price index >> interesting that despite the rising inflation picture, stocks

still ended higher we are higher premarket as well. many asian markets are closed todayt for the chinese new year, japan did remain open. the japanese nikkei closing higher by 1.5% look at the story in europe. early trade there, it's green across the screen. the dax up 1%. the french equity index higher by 1.5%. so solid gains in early trade. >> let's check out the commodity picture. oil prices for now, seeing some green on the screen. wti $61.15 that's almost a full percentage price to the upside. ice brent, 64.63, up about a half percent turning our attention to the gold prices.

we had saw some short-term momentum to the upside as of late a weaker u.s. dollar at pockets during the past few weeks has been responsible for some of that move. the last trade for gold, 1,357.10 a decent move higher >> the weaker dollar has been a big part of the surge we've been seeing in commodities as of late you can see the dollar is weaker against the euro, 1.24 and against the yen, 106.47. so breaking below 107, a see psychological level traders are watching looking at bitcoin, it is higher today. yesterday gaining more than 10%. it is now getting close to breaking 10,000 trading at around $9,600. today the cftc is examining penning rulepen

penning pending rules around cryptocurrency regulation. that regulatory story has been a factor behind the rebound we've seen let's talk about the markets with gina sanchez. it was just yesterday on this show when we had a number of guests talking about how inflation data would be the key to trading it turned out it was but it didn't play out exactly how some had thought. a lot of downside pressure then to reverse and see a nice upside gain what is the inflation picture telling you about the markets today? >> we have not seen much evidence that inflation is necessarily going to pick up in the long-term. we could see some short-term inflation pressure but if you look at how wages have been acting, they've been muted. as unemployment has fallen, we have not seen dramatic wage increases. and that relationship to us tells us that there is going

to -- it's going to take more before we see significant inflation. on the other side of wages, inpi input prices, you have pleasure to the down side on oil if anything granted saudi has agreed to up their pressure and supply cuts in order to keep oil prices propped up due to the saudi aramco merger. we don't see that as an immediate pressure to inflation. it's hard to tell where the story is coming from i think this is a story about unsustainable debt loads in the u.s. in a rising rate market >> yesterday's report did show us inflationary pressures are building if that continues how should investors reallocate their stock portfolio? >> we would see that as largely transitory we don't see those numbers as being pushed by anything that will stick around for the long-term. some of that might be a

stimulative effect we could see tax stimulus for 2018 and 2019, but those effects will fade and fade quickly that said we'll probably see a bump to earnings in 2018 so we could see a stop and go year that actually still is favorable to equities. but i think it's going to be a lot bumpier ride this year >> one thing we've been watching is a market that pulled back towards that 10% plus level, something we have not seen since the latter part of 2015 into 2016 the first time we've seen that correction that traders like to refer to what does that tell us with regard to risk appetite in the market, and does this happen despite the fact we have what looks to be a sustainable upward trajectory for interest rates in the itseu.s. and maybe globally? >> a lot of that correction was necessary. it's part of a healthy market

cycle to have regular ups and downs. if you look at the up days versus the down days, this was largely overdue. it did not take much out of the multiple we're still at high multiples despite the correction at the end of the day, earnings are at a pace they can easily make up what was lost on the multiple side. we don't see this as something that is screaming problematic. and we do see stimulus helping earnings over the course of the year however as i said, volatility is up, and i think volatility is here to stay it would behoove a lot of investors to consider hedging their positions because the likelihood of a nasty downturn is increasing. >> forecasting is tough, but let's talk about what you're telling your clients now when they ask you what you think the ten-year u.s. treasury note yield is going to do, what is your forecast? >> we've been underweight

treasuries since the beginning of the year. we went underweight at the end of last year so waiting for this, however treasury rates are on the rise, we are seeing the unemployment rate gap close we have seen a lot of evidence that tells us that interest rates should continue to rise. that said expectations for inflation will likely be disappointing. but that doesn't mean you shouldn't stay away from treasuries probably for at least the first half of this year. >> gina sanchez, thank you very much for joining us to talk about rates and the inflation outlook. it's a busy day ahead for economic data. weekly jobless claims are out at k 30 a.m. eastern along with january ppi and the monthly philly fed survey.

at 9:15 a.m., industrial production look for results from cbs and shake shack after the closing bell. cisco systems posting a net loss in the second quarter due to an $11 billion tax related charge but excluding those items they reported their first quarterly revenue rise in two years. cisco plans to raise its buyback program by $25 billion and repate yacrepa repatriate 67 billion in cash overseas chuck robbins will be on today at 9:00 a.m. eastern time. netapp swung into a q3 loss due to a tax related charge. adjusted profits did beat forecasts. the fourth quarter outlook was in line with estimates nestle's full-year profit fell 16% the decline was mostly due to

cash flow issues at its skin health business. organic sales growth fell short of expectations. the company will not renew its shareholder agreement with l'oreal, though it will remain an investor. shares of airbus are higher today. the planemaker reporting a rise in full-year adjusted profits and free cash flow that helped offset a 1$1.6 billion charge related to issues with its 400m military transport jet. marriott's fourth quarter profit falling on a charge due to the new u.s. tax law and other issues adjusted earnings beat forecasts. revenue rose 8% as more people booked rooms at higher prices. shares of tripadvisor surging today. the travel site reported higher than expected revenue in the third quarter. sales from the hotel segment fell but that was offset by a 26% jump in non-hotel revenue which includes attractions and

restaurants. tripadvisor has been putting money towards experiences. so individuals looking to book a tour or an experience of some sort a cooking lesson while in italy. it's been really trying to build that part of its business. it seems to be working we saw monthly unique visitors rise as well, which shows you people are not only visiting the site to gain content but booking travel as well as experiences on the site monetization has been a big concern for tripadvisor. seems like they're getting better at it >> it seems like there's a haves and have-nots in hosity tall py lately hilton yesterday said they will better booking revenues, better average room night costs, more online stuff going on, but those stocks may be unpressure but tripadvisor jumps 16%. it's a content site that drives

people to book on other platforms. >> tripadvisor lost 26% in 2017. so you're seeing a bit of a pop today. but the broader story is important. to your point, marriott, hilton, wyndham for the most part solid earnings, i would say. those stocks gained over 35% in 2017 so seeing a bit of a pullback here, but coming off a strong year we're just getting started on "worldwide exchange." coming up next, big money's big bets, where some of the most notable names on wall street are putting their money to work. and bashing bitcoin. what charlie munger said about the cryptocurrency that is getting buzz today en'll bring you his comments wh "worldwide exchange" wh "worldwide exchange" returns. ons contracts? $1.50 futures contracts? what about a dedicated service team of trading specialists?

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welcome back to "worldwide exchange." i'm dominic chu, let's get you up to speed on the market action the u.s. equities futures picture looks good the s&p 500 is estimated to open up by 20 points the dow jones up by 275 points the nasdaq up by 57 points another seemingly positive day for stocks we'll see if that holds. oil prices, let's check those out. they have been under some pressure as of late. then we have seen a rebound. wti crude pushing 61 bucks a barrel that's up 36 cents or about a

half percent to the upside ice brent crude futures, $64.47. a tencent rise, 0.2% to the upside crude oil prices up generally so far in early trading >> warren buffett's long-time business partner charlie munger says it is time for regulators to ease up on wells fargo. he says the bank will end up better off as it corrects a series of mistakes in treating customers. speaking yesterday at the daily journal newspaper meeting, munger also blasted bitcoin calling it a noxious poison. >> i detested it the moment it was raised the more popular it got the more i hated it on the other hand i expect the world to do insane things from time to time everybody wants easy money of course the people who are peddling things, taking money off the top for promoting the investment, they like it, too.

these crazes keep coming and coming but who would want their children to grow up buying things like bitcoin? >> i guess we can add charlie munger to a growing list of individuals on wall street in finance that are again not really supportive of the cryptocurrency nonetheless, bitcoin down on the year, but it is higher by 20% over the past one week we are seeing this rebound in tandem with equity markets the biggest investors on wall street are revealing some sizable new buys in the fourth quarter. let's get out to leslie picker with the details it's something we like to call whale watching it is that time of year when we know just what they're buying. >> exactly the whales were making some moves in the fourth quarter, one of the most watched investment firms, berkshire hathaway disclosing a new stake in teva the pharmaceutical giant struggled in recent years with

declining sales in its generics business, berkshire hathaway acquiring almost 19 million shares worth about 3$360 million at the end of the quarter. that stock jumped in after-hours trading yesterday. green light capital's david einhorn piling in with new holdings including brighthouse financial. the bet there 6$600 million at year-end and coincided with new picks in the retail space including kohl's, lowe's, michael kors, nordstrom. third point making some sizable moves with a 4$400 million stake in intercontinental exchange, the parent company of the nyse i should also note that these investments are from the end of december and may have changed

since then >> interesting to see some of those stocks moving on these disclosures, specifically teva pharmaceuticals up 7%. this is an israeli biotech firm. >> if you look through buffett's and berkshire hathaway's filings, healthcare is not a common sengter that you tend to see in their portfolio they hold a bit of johnson & johnson, pared back their stake in sanofi, it doesn't represent a huge proportion of their portfolio. we'll see what they do over time >> thank you very much well, let's talk right now about what's happening overall with wall street we're pointing to another higher open as the s&p looks for its fifth straight day of gains. they made up some serious ground after that selloff two weeks ago. let's look at where the action has been where have people been buying the dip and we've had movement

towards record highs we decided to look at the s&p 500 companies out there. the s&p 500 has had so far about 89 companies that are now, after the rally of the past few days, now just within 5% of their 52-week highs or better. among those, 79 of those stocks hit 52-week highs just so far in 2018 not a lot of them, eight of them this week have set new 52-week highs. let's look at some of the big name stocks within striking distance of those highs we've seen recently. vf corporation, just about at its 52-week highs. estee lauder within about a quarter of a percent of its 52-week high northrop grumman, this is interesting, defense contractors like them and others have now regained a lot of the ground they lost. many of those stocks are part of the trump trade. they seem to be recovering back

to their highs cognizant technology solutions within a half percent and tapestry, just about 1% away from its highs as well coach, you may remember that name as well some of these companies have seemingly recovered a lot of ground from the recent market selloff. still ahead, the top stories and a round up of the global market action and the big changes coming to the mcdonald's happy meal menu that might leave some customers not so happy. first, as we head to break, here's the national weather forecast from bill karins. good thursday morning to you. very warm and dreary forecast in areas of the middle of the country. heavy rain event taking place in the ohio valley. it's extremely warm. feels like a march or april forecast we have a flood watch in effect for ohio, west virginia, pittsburgh snow melt along with the rainfall, rivers are running

high we'll get another inch or two of rain out of this 80 possible today in oklahoma city 70 in d.c. 61 in new york wich winter is returning to the northern plains. montana has a chance of snow rain storms will be coming through the middle of the country down through the tennessee valley on saturday the northern edge could be cold enough for snow around chicago and the southern great lakes the possibility of significant snow in southern portions of new england. not a lot of model agreement with this. the american model does not have a big snowstorm like the european model does, it's something we need to bear watching and keep it in mind if you live in the northeast especiallyatda sury night. that's your business travel forecast, more "worldwide exchange" when we come back.

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welcome back starting to get new details into yesterday's deadly shooting at a florida high school. chris pollone has the latest from parkland, florida what can you tell us >> good morning. as parkland, florida wakes up today, this is a changed city. it's been thrust into the national consciousness like so many other american cities over the last couple of decades for one of the worst reasons possible, a massacre inside a school 17 families are saying good-bye to loved ones. another 15 or so have loved ones in the hospital and injured in this shooting. investigators trying to answer a

question that may never be answered why. >> reporter: the chaos erupted as classes were about to let t out. police say a former student armed with a semiautomatic rifle pulled a fire alarm and opened fire on unsuspects students. >> after i seen people run, i heard six shots, loud shots. i thought, oh, my god, we have to go. >> reporter: s.w.a.t. teams discovered students barricaded in classrooms where they waited to be led to safety by law enforcement. >> we locked the door, turned off the lights >> reporter: stuchts were >> reporter: students were escorted single file from the building most of the victims were discovered fatally shot inside a classroom building but some were discovered outside about a dozen were transported to area hospitals. >> i'm absolutely sick to my stomach to see children who go to school armed with backpacks and pencils lose their lives. >> reporter: the suspect

identified as 19-year-old nicolas cruz was taken into custody about a mile from the school students who know the suspect say he was troubled and had been expelled >> he's always been a really crazy kid. i heard some people say one day he would have done this. unfortunately i think that was today. >> reporter: broken windows riddled with bullet holes a grim indication of what happened at this high school where investigators worked through the night searching for evidence last night we learned more about that suspect, nicolas cruz we learned he's been staying with a family friend since november that's when his mother died. an attorney for that family said they did not see this coming we hope to learn more about the police investigation later on today. police plan to brief the media around 10:30 local time. live in parkland, florida, chris pollone, back to you >> thank you very much for that update "worldwide exchange" will be right back

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dow futures up triple digits as wall street looks to extend a four-day winning streak. big names like macy's, jcpenney and nordstrom are up big this week. and more golden moments for team usa as the winter games heat up. we're live in pyeongchang with an update.

it's wednesday, februa it's thursday, february 15, 2018 you're watching "worldwide exchange." good morning welcome to "worldwide exchange" on cnbc. i'm seema mody >> i'm dominic chu let's check the global markets we're seeing a bit of positivit positivity >> optimism. >> as everything stands now, we'll see a triple digit gain to start the day for the dow. the s&p slated to open up by 20 points the nasdaq up by 57, 58 points the ten-year treasury note yield, very much a focus for traders. it has been arguably one of the biggest drivers in action no matter what asset class you're talking about. interest rates at 2.92%.

we're trending up towards that psychologically maybe significant round number if you will of 3% we'll keep an eye on that as we look at producer prices which come out today and oil prices, wti crude about $60.97 about a half percent to the upside ice brent crude futures, those prices about $64.47. 0.2% gain there as well. >> let's get more on the early market action. geraldine sundstrom joins us yesterday despite inflation overshooting expectations, stocks moved higher. we're on track for our fifth day of gains what does that tell you about markets and how they're perceiving this rise in consumer prices is it a sign that investors should not attach this much importance to inflation?

>> good morning. markets will be markets. and the volatility we've seen over the last few days has been disconcerting for a lot of us. the bigger picture is the tradeoff between growth and inflation and are we seeing a deterioration of this. the ten-year treasury at 3% was something we were looking for during 2018. inflation rising as well is inflation getting out of control? i wouldn't say it's running away it's accelerating, but nothing that would be out of the forecast i think now stocks are taking comfort on that. looking at the importance of tax reform and those huge cash balances on the balance sheet of corporations, which probably now

is being put at work and supporting the markets >> one thing that maybe investors are worried about now is whether or not the macro environment is constructive for risk assets to continue to perform to the upside. you laid out a number of those points in your prior answer. can you figure out in your mind whether or not we can continue to see a rising rate environment and still an upward bias or trend for risk assets like stocks >> yes well, you know, we're late cycle. typically late cycle, stocks still have some performance to give off course it will offer a lot more volatility than before. the environment of the past two years was not sustainable. as investors we have to pay attention to the stock/bond correlation and how this is evolving are rates going up, that's not the best news for stocks but i keep repeating this,

stocks are variable income assets if income is growing, you know, at proper escape velocity, then rising yield should not endanger the rally too much >> in the face of rising rates you have tax reform, which is slowly dripping through. cisco overnight announcing it's repatriating $67 billion of cash can the benefits from tax reform offset the risks around inflation? >> it will certainly be a big buffer when we look at stock market around the world and this very large cash balance that are on corporate balance sheets, certainly two areas stand out. the united states but also japan. it was very much our expectation that during 2018 those would be put at work in many ways, shape and form a lot of m&as, dividends, buybacks, these are things we're

expecting to see to support the market during 2018 >> buybacks clearly a story we've been seeing this earnings season on the back of that reduction in the corporate tax rate we'll leave the conversation there. thank you for joining us >> thank you >> let's talk about cisco. some other stocks to watch today, cisco systems posting a net loss in the second quarter due to an $11 billion tax related charge, but excluding those special items, earnings about beat forecasts but excluding those items they reported their first quarterly revenue rise in two years. cisco plans to raise its buyback program by $25 billion and repatriate 67 billion in cash overseas chuck robbins will be on today at 9:00 a.m. eastern time. netapp swung into a q3 loss due to a tax related charge.

adjusted profits did beat forecasts. the fourth quarter outlook was in line with estimates the stock is down about 7.5% in extended hours trading nestle's full-year profit fell 16% the decline was mostly due to cash flow issues at its skin health business. organic sales growth fell short of expectations. the company will not renew its shareholder agreement with l'oreal, though it will remain an investor. shares are off by 2.5% in european trading shares of airbus are higher today. the planemaker reporting a rise in full-year adjusted profits and free cash flow that helped offset a $1.6 billion charge related to issues with its a400m military transport jet. marriott's fourth quarter profit falling on a charge due to the new u.s. tax law and other issues bottom line results still beat forecasts. revenue rose 8% as more people booked rooms at higher prices. the stock is down 4% premarket

shares of tripadvisor surging today. the travel site reported higher than expected revenue in the third quarter. sales from the hotel segment fell but that was offset by a 26% jump in non-hotel revenue which includes attractions and restaurants. we'll see the commentary from management around future growth. speaking of consumer discretionary spending some retail stocks have been on a stealth tear jcpenney up nearly 8% on the week with macy's close behind, up 6% since monday both nordstrom and kohl's jumped 5% and target gaining 4% the retail sector as a whole is up more than 2% this week if you use one of the big etfs that tracks them to measure that. courtney reagan joins us on "worldwide exchange" to talk about the retail landscape does this mean it's all clear? we did see a lot of down trends

for these retail companies over the course of the last 12, 18 months >> it's been a rough go for retail going through some major shifts and how business gets done by in large it was a good holiday season that doesn't mean it was great for everyone we still have many retailers left to report results we only heard from a handful of them i wouldn't even call them retailers, i would call them more brands, like michael kors and ralph lauren the overall sales number was weak, but if you dig into the details, the retail i'm talking about was strong the clothing and accessories up 1.2% in january from december. department stores up 0.8%. miscellaneous stores up 1.6% non-store retail, where online falls, that was unchanged. so really interesting patterns i'm starting to wonder if some retailers have started to find equilibrium point between online

an in store. what percentage of sales will come from each once they can figure out what that is, they can optimize those two business models. so i think it's interesting the patterns that we're watching it might be too early to call the trends totally shifting, but we might be getting there. we'll hear from wal-mart next week >> that will be important. >> not just for retail but the health of the consumer >> yeah. the impact of online that's always been a big concern. one of the reasons we saw that under-performance for retail last year. >> for certain, that's often a product drain. >> you mentioned online, we can't say that without saying amazon is there a trend now we're seeing you talk about optimization. do they still have this massive threat thefrom amazon? >> definitely. amazon is still a threat it's changed the way retail is done i think some retailers are starting to get better and faster at the way they react

amazon still has an upper hand in a lot of these trends we're watching >> it's a big battle we're watching for sure. >> absolutely. courtney reagan, thank you very much time for our today's top trending stories >> let's trend >> we'll start with mcdonald's making a change to its iconic happy meal the fast food chain is taking cheese burgers off the board and reducing the size of the french fries in one mighty meal offering this is part of an effort to make the children's menu healthier. if you have a picky eater on your hands, don't worry, cheese burgers will still be available upon request >> it's still going to be on the dollar menu for them just the idea -- i guess i grew up in an environment when the happy meal was -- you chose a hamburger or a cheeseburger. now there's apple slices, yogurts, everything else in there. kudos for making it a healthier

option >> menu innovation as we have been talking about even with chipotle and the new chief coming in, innovation is a part of success stories >> changing trends >> sequels arenot just for movies mattel announcing a follow up to the card game uno. it's called dos. the rules are similar to classic uno but players make two piles instead of one and can play two cards at each turn dos will be available at target stores in march and rom out to other retailers in july. >> what's next tres >> it took a long time to get from uno to dos. >> hasbro's ceo will be joining "squawk box" towards the end of the 6:00 a.m. hour. and a rare 70-pound meteorite was sold at action for $237,000 yesterday referred to as a canyon diablo

iron meteorite because it came from the berenger crater in arizona and has a high iron content. it is one of few considered visually pleasing enough to be a natural sculpture. >> this sounds like something a tony stark or an elon musk would go after if we only knew who the buyer was. >> a big chunk of money to pay for a big chunk of rock from space. still ahead on "worldwide exchange," the u.s. is taking home another gold at the winter olympics and a triple digit gain so far for the dow, 278 points. s&p is up 20 in 9 fthe futures market "worldwide exchange" will be right back no matter how

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if you're just waking up, let's get you up to speed on the market action. we gained a bit more here in the last hour. 270 points in premarket for the dow jones. s&p 500 higher by 19 nasdaq higher by 56. this coming after four days of gains for stocks after that big selloff we saw last week let's look at the story in the treasury market. we were higher, yields at 2.9% we're building on that for the tep-year, ten-year, 2.93% after inflation.

let's switch to sports and the olympics it's been a busy week at the olympic games. carl quintanilla joins us from pyeongchang with more. all i have to say is one word, mikaela shiffrin >> the u.s. dominance on snow sports continues after multiple delays due to the weather, mikaela shiffrin from colorado finally takes on the slopes, wins gold in the women's giant slalom what an incredible run so emotional at the bottom breaks down on her knees in tears. amazing success for the united states this is the first time that because of the wind we had two alpine ski events on the same day. mikaela shiffrin talked about finally getting to compete in a press conference >> to come here and do that today was incredible now i have the slalom tomorrow

i'm trying to get the emotions under control and focus again. >> she's nowhere near being done her schedule looks something like this. slalom on friday downhill on tuesday. the super combined next thursday and the team event on friday she's not going to do the super g on saturday. she's nowhere near being done in pyeongchang. norway continues to kill it with medals, they have twice the number of medals that the u.s. does if you trash poyou track pyeongs sochi on a day by day basis, we're behind where we were at that point in the games. hopefully we can pick up the pace in the days ahead >> 16 total medals for norway. they're clearly in the lead. we appreciate your coverage. i feel like i know so much more about south korea and the

markets. what has stood out to you? >> i think all olympics have a narrative going into it. in rio, it was safety and water. in sochi, it was are the russians ready there was never a debate that korea wouldn't be ready. they are so competent, such a delight. it's been one of the smoothest olympics i've covered. i've done five i think it's been a testament to their coordination, they're logistics and enthusiasm it's been impressive >> you covered that many olympics, when you look at what's ahead you mentioned some events that mikae mikaela shiffrin will be competing in what exactly will be you be focused on if you're trained on a handful of events, which will generate the most buzz and excitement

>> shiffrin has to do a lot of these events back-to-back. she's done five world cups where they had a back-to-back event. i think in nearly every one she won. so the question will be how much of her focus can she maintain. i mentioned she will drop the super g. coming off of these things you get emotional as an athlete. you have to bring it all back in and rein in those emotions to focus on the next event. this will be a test not only of her skill but also her mental endurance over the next week i think we can safely say she has a good way of handling it. >> we've been enjoying this coverage from pyeongchang. keep it up hope to see you throughout the course of the day. i'll be watching the olympics this weekend >> carl, thank you. still ahead on "worldwide exchange," stocks posting a four-day winning streak but investors are still bracing for more volatility. what does that mean for your money? that's coming up next. and a big interview later

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and the nx hybrid with a class beating 31 mpg combined estimate. lease the 2018 nx 300 for $339 a month for 36 months. experience amazing at your lexus dealer. . welcome back to "worldwide exchange." let's check on the futures it is positive to start the day. we had the dow slated to open up by 275 points if everything holds pat. the s&p up by 19 points. the nasdaq, 56 points to the upside can we expect this constructive environment to continue? let's bring in steve sheverone from federated steve, we've spoke ton a number spoken to a number of guests on how they're navigating the current market volatility. what's your take on it has it provided you some semblance of opportunity for your investors

>> absolutely. everyone is looking for a pullback until they get it in our view this is one of the best kinds of pullback because it was technically driven. yeah, an inflation scare set it off. you had that deep technical selling. so the fundamental story is intact >> we look at the data yesterday with more signs of inflation the bond market responding in a strong way we're above 2.9% on the ten-year equities suggest that markets -- the equity markets don't really care with the dow up 278 here. >> i think at first higher bond yields spooked the market because of how fast they were rising we think the neutral ten-year yield is 3.5% to 4%. even at 2.9, we think multiples can continue to expand >> are there certain places in the market that you're finding opportunity? earlier we did a screen looking at the s&p 500 stocks that have

staged the biggest rally off of theirlows during the market malaise. regional banks up at the top m & t, zion's bank, fifth third, some of those who have been a beneficiary of a rising rate environment, the steep yield curve, are financials still a place you're looking to for opportunity? >> financials has been a favorite for a while rising rates, the yield curve is steepening we think it will steepen more as global growth allows the ten-year to move higher. we like those opportunities. they got whacked in the volatility a couple weeks ago. if you're worried about inflation, you should move towards financials, not away we think that's an opportunity we added to large cap growth you had sectors that had been resilient like tech that got a beating a week ago >> those f.a.n.g. names, amazon, ne netflix, amazon, they have come

back in a strong way why are we seeing the tlar wedor weaken in the face of a strong economy? >> you got those comments from davos, but from our perspective the important thing is earnings. >> generally speaking we can say earnings have been good. >> really good >> one last note really quickly, do you feel as though today's wholesale inflation data is important. >> yes the market is hyper sensitive to inflation in general we don't agree that the cpi showed a big pick up in inflation. >> steve, thank you very much. >> thank you and it was interesting to see the outperformance in retail, and does that continue, not just the cpi numbers yesterday, but producer prices today. the dow up 267 points in the premarket. >> that does it for us on

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the bulls battle back. stocks on a four-day winning streak the dow futures are pointing to almost up 300 points today at the open. inflation front and center today. a market moving economic release now less than three hours away moving on up amazon surpassing microsoft in market value for the first time. who will get to a trill onfirst? it's thursday, february 15, i think it's the ides of february. "squawk box" begins right now. ♪ live from new york where business never sleeps, this is

c "squawk box. >> good morning. welcome to "squawk box." we're live at the nasdaq market site i'm andrew ross sorkin, joe kernen is here kayla tausche is here. becky is off the professor is here, steve liesman, neil blackstein is here let's see how things look this morning. the dow in triple digits in the green right now. looks to open up 263 points higher nasdaq opening higher as well. 56 points higher s&p 500 up about 18 points let's show you treasury yields at this hour 30-year, 3.182 oil prices if you want to buy a barrel of wti, you can do it it will cost you $60.96. >> among the top corporate stories, cisco systems posting a net loss in the second quarter due to an