pick an order, print everything you need, slap the label onto the box, and it's ready to go. our costs for shipping were cut in half. just like that. shipstation. the #1 choice of online sellers. go to shipstation.com/tv and get 2 months free. it is 5:00 a.m. an cnbc dwl global headquarters and here it your top five at 5:00. stocks fighting back, they once again spook investors, and the potential threat of another breach on capitol hill that's hanging over washington this morning as the senate looks to push forward on president biden's virus relief bill. we are live in d.c. with the very latest. and a february to remember from melvin capital, locking solid gains for the month after getting clobbered over its role in the gamestop short squeeze frenzy

are you ready for some football, more football on amazon, the tech giant looking to lock up more on its gains, and a new contender in the streaming wars, it rolls out paramount plus, thursday, march 4th, 2021, and you are watching "worldwide exchange" right here on cnbc. ♪ video killed the radio star video killed the radio star ♪ ♪ in my mind and in my car ♪ good morning, i am frank holland in for brian sullivan this morning let's take a look at how your money and the global markets are setting up their day stock futures right now pretty much flat across the board fractionally lower actually, excuse me, a reversal we're seeing, the dow up in the green now. just a few seconds, everything was fractionally lower, now just the nasdaq composite fractionally lower in the futures this morning this after stocks suffered steep losses on rising bond yield fears. the dow shedding 119 poeints, th

s&p fell 1.3%, and the nasdaq 3% the nasdaq is on track to post its third straight negative week, the longest streak since september. the s&p holding on to a fractional gain this week. the weakness in stock comes as the ten-year treasury yield right now sitting just below 1.47 those bond yoields have risen 5 basis points since the beginning of the year. the price of oil, wti holding just above $60 a barrel this morning. we're going to have much more on the energy market later in the hour now, let's go worldwide. our matt taylor is standing by in singapore joumanna bercetche is live in our london newsroom. matt, let's kick it off with you. >> it was a sharp week for marketings, a turn around for most of the asian trading day. we had futures trading down by

100 to 200 points for the dow, and that pressured the asian markets as did that big sell down that we saw in the nasdaq for you guys yesterday a number of the tech heavy markets across the asia pacific are seeing tech stocks weighing down those indices to some of the closing numbers, the japanese market was down by about 2% some of the tech heavy markets like taiwan. so it was really the greater china markets that fared the worst in trade today here in asia, in particular in hong kong. we saw the hang seng tech index trading down by 5% throughout the course of the trading session. shanghai also weaker by about 2% at the close as well, as we await more news out of the national people's conference which gets underway tomorrow for clues on policy settings in china. tech names around the region, sony down 2 1/2%

samsung, 2%. 10%, one of the hong kong listed names, up 4 1/2% thank you very much. now to the early trade in europe let's go to joumanna bercetche in our london newsroom good morning. >> good morning, frank the picture isn't that much different for european equities as well, taking their cue from asian markets. a lot of red on the board. let's break it down by individual countries ftse 100 is the u.k. index we are under performing massively, down about 9/10 of a percentage point at the bottom we've got the basic resources stocks, many of them have gone ex-dividend which explains some of the underperformance right at the top, we have hospitality names. yesterday, the chancellor delivered the u.k. budget providing a lot more covid relief support to the hospitality and retail sectors those names are performing quite well though you wouldn't be able to see that given the overall

index performance. france, down about 2/10 of a percentage point one name we're watching closely is vivendi, looking to sell the y university group in the next month. dax in germany down about 4/10 of a percentage pointment one name we're watching closely is luft tan sa, trading on the back foot today, frank! thank you very much, we appreciate that look at europe. now to your morning's other top stories. flip card, a company owned by walmart is looking to go public. the india based retailer has been considering an ipo. bloomberg reports the company could seek a valuation of $35 billion in a spac transaction. walt disney has announced it will close 20% of the brick and mortar store locations before the end of this year that works out to at least 60

stores the company saying the move is part of a bigger focus on its ecommerce business as consumer trends continue to shift. and the ceo of the texas electric grid operator has been fired less than a month after the power grid experienced widespread blackouts during a major winter storm ousting bill magnus who served as ceo and president since 2016. he will serve in his roles for two months before exiting. power retailer, entrust energy has become the second electric seller to be barred from the texas power market according to bloomberg ercot made the move after finding entrust was short $254 million in payments to generators and others during the state's energy crisis. now turning our attention to washington as officials brace for the threat of a new attempt to attack lawmakers on capitol hill this as lawmakers continue to try and finalize the terms of president biden's $1.9 trillion

covid aid passage. tracie potts is live in washington with more what's the environment like in the capitol this morning >> reporter: well, certainly tense because the senate is working. they are going to work on that bill for covid relief, but house members went home after a late night trying to scramble and get some work done amid this new intelligence threat that supporters and extremists could be headed back to washington. >> the bill is passed. >> reporter: the house of representatives scrambling overnight to approve a voting rights bill and the george floyd justice and policing act >> we cannot accept this epidemic of injustice. >> reporter: both votes were scheduled for today, but the house rushed them through after the fbi and homeland security warned of extremist threats to attack the u.s. capitol again today and remove democrats conspiracy theorists believe

donald trump will return to power today. inauguration used to be held on march 4th. the capitol complex is still under heavy security in place since the january 6th riot 6,000 national guard troops remain in d.c. >> that mission continues under its current form until the 12th of march. >> the house shutting down early to be safe, threats to lawmakers are up over 90% this year. >> people are deeply concerned about what potential threats could be out there. >> reporter: but the senate is working today. debate on the american rescue plan could be delayed ten hours. one lawmaker will force the clerk to read the entire 700 page bill first. >> in terpsms of what this billi and isn't. >> reporter: president biden has agreed to limit direct payments to americans earning $80,000 or less and couples earning twice

that so 20 hours of debate on the relief bill, the stimulus checks and everything else will get underway after that full bill is read, which means, frank, it could push a vote into this weekend. >> so tracie, yesterday, we saw the head of the d.c. national guard testify on capitol hill. what are security officials now saying about that january 6th capitol hill riot? >> reporter: so we heard from the head of the national guard, the national guard commander saying that immediately after the rioting, they requested troops but that it took three hours for the pentagon to respond and another 40 minutes to actually get that message pentagon officials saying that they worked quickly, but that they were a little gun shy because of what happened the prior summer and getting criticism for getting involved in demonstrations in the white house. >> an ongoing investigation,

tr thank you very much. las vegas sands ditching the strip. we'll go live to beijing with the look. and stocks to watch, including shares of vroom. and helima croft is going to lay out, a very big day when "worldwide exchange" returns no one likes to choose between safe or sporty. modern or reliable. we want both - we want a hybrid. so do banks. that's why they're going hybrid with ibm. a hybrid cloud approach helps them personalize experiences with watson ai while helping keep data secure. ♪ ♪ ♪ from banking to manufacturing, businesses are going with a smarter hybrid cloud,

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and welcome backm investors are bracing for the weekly jobless numbers with the big monthly jobs report set to release tomorrow. for more on the state of the economy and the potential impact on markets, i'm joined by jay bryson, wells fargo securities managing director and chief economist. jay, thanks for being here. >> hey, frank. >> we got to talk about bond yields first we're going to get to those jobless numbers in a second. markets are focused on inflation. we mentioned a while ago, bond yields increased 50 basis points since the start of the year. how do you think this impacts not only equities but inflation in general >> you start with equities bond yields continue to rise, and shoot significantly higher, it's higher yields in bonds mean people probably rotate out of stocks and that can definitely hit the stock market i mean, in terms of the economy, the question is why are yields going up here?

if it's because people are getting more excited about stronger growth in the end of the year, that's not a bad thing. we think back into quote normal times, say back before the financial crisis, you know, ten-year treasury was generally around 5% or so, and that didn't slow down the economy all that much if it's a real scare just about inflation, and people were building in risk premium, then that's a bad thing it's really more about expectations of stronger growth going forward, then that's generally not that bad of a deal. >> jay, speaking of expectations, what are you expecting from the jobs numbers out later today, and if those numbers, they beat estimates, what do you think that means for price inflation and the markets? >> right, so the initial jobless claims, you know, they're running just a little bit under 800,000 per week right now it's probably going to stay somewhere around that. you know, i think the more important number is the employment report tomorrow, and we're expecting 210,000 job

created in the month of february in normal times, that's a pretty good number. given where we are right now, you expect and hope to see higher sorts of numbers. i think the key here is if it comes in a lot stronger than expectations and particularly if the unemployment rate were to come down and the measure of average hourly earnings, if that ticks up, people may get a little bit concerned about higher inflation if it comes in lower than that, you can eventually see bonds rally on the back of that, and i would think that's probably, you know, pretty good for the stock market. >> so you're saying if the numbers come in lower and the bonds rally, that's good for the markets. >> i would think so. i think what's happening right now is, you know, with yields, what we have seen over the last few weeks or so, as yields continue to rise, when they shoot higher, that gets the stock market a little bit unhinged and so if you get the sign of, okay, so the economy continues to grow, but not so fast that it's going to kick off inflation, that's kind of almost

a goldilocks sort of scenario, good growth and low inflation. that should be good for stocks. >> speaking of things that aren't too high, too low potentially. let's talk about your gdp forecast 6.2%, and 5.1% effectively how does that tie for people then going out and spending money in q2. >> yeah, so frank, it's very much tied to that as well. if the vaccine rollout continues to go successfully here, more and more people become vaccinated and feel comfortable about going out. then we think there's just, a, pent up demand for lots of spending on restaurants and travel and movie theaters and things of that nature. plus, all the money that people have received through these fiscal relief sorts of programs. those two combinations, pent up demand and a lot of fire power should be good for spending. however, you know, if the

vaccine rollout were to trip up here or if, you know, some big variant were to come along that make vaccines not successful amongst that, that potentially could cause the rate back in our forecast it really depends on how things progress here with the vaccine rollout as well as the virus >> i think we all hope and pray that you're right, and we're going to see a widespread vaccine rollout and people back out and about in q2. jay bryson, we appreciate your insight. have a great day. >> thank you. still on deck on "worldwide exchange," chipotle setting parameters for its executives to get paid details on the key metrics they'll have to hit to get compensation today's big number 78%. that's how many institutional investors surveyed by j.p. morgan say they are not planning on investing in cryptocurrencies, though the majority believe cryptocurrencies are here to stay

ness, one day, you're gonna take a hit you didn't see coming. do you stay down? or do you get up? [announcer] and this fight is a long way from over, leonard is coming back. ♪♪ ♪♪

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plus ups only cheaper get our special tv offer a 4-week trial plus postage and a digital scale go to stamps.com/tv and never go to the post office again. welcome back, let's get a check of stocks on the move. snowflakes reporting better than expected fourth quarter revenue but the cloud software maker offering a slightly weaker outlook for the year snowflakes went public last september raising $4 billion, the largest software company, ipo in 2020, shares fractionally higher this morning. shares of octa, they're lower, taking a big dip, down around

10%, the company which helps manage managers secure user ids okta announcing it's buying identity platform off zero for $6.5 billion investors are hitting the brakes on vroom, dropping big, down about 13% after reporting a wider adjusted fourth quarter loss, although revenue rose 14%, beating forecasts. the stock is still up about 70% since its ipo last june. switching gears, las vegas sands and its decision to ditch its name sake city for asia. the gaming giant selling two nevada properties in a more than $6 billion deal. the gaming giant will make a bigger bet on asia with the focus on macaw and singapore y yun eunice yoon is in beijing.

>> the company is going all in on asia. the vast majority of the sands properties are in the chinese territory of macaw, with the marina base sands in singapore, and also it happens to be the most profitable during the pandemic so the pandemic was managed pretty well out here in singapore and in macau, and so they have been able to ease restriction on travelers to the casinos. just this week, macao lifted requirements at the properties, and the territory saw gambling revenue spike in february by 136%, though, of course, this is coming off a low base. now longer term, the company is betting on what the late sheldon ad attleson envisioned when he came out here in the 2000s, the first to grab a license in macao he believed people would be

getting wealthier and wealthier, and would want to travel and shop he has often been credited with transforming macao from a sleepy back waters into the gaming capital of the region, and a lot of investors had been asking what the company would do now with the money from the sale so sanford bernstein pointed out, frank, that injecting the sales proceeds into the expansion of the maria base sands or the sands china, might not be necessary, and people out here have been speculating that the sands might look to grab a license in japan or possibly invest in australia with a bid for crown resorts. >> so eunice, what are some of the big challenges with this big move by sands? >> well, some of the big challenges for the sands, i mean, probably the most immediate one is going to be the fact that the pandemic still hasn't been totally managed. so they're going to see their

numbers go up and down depending on exactly how the outbreak goes and whether or not the governments out here are able to manage it. now, longer term, though, what people have been eyeing, especially in macao is the fact that the licenses are going to expire in june of 2022 so there's been a lot of questions as to whether or not the sands would be able to maintain its license in macao, or if it would eventually mean that it could work with a chinese company, for example, in order to try and stay in the good graces of the chinese government, especially now that has sheldon at lson, a huge player and visionary won't be around to negotiate a deal. >> eunice yoon, the latest out of beijing, we appreciate it. let's get a check on this morning's other headlines in the u.s. phillip mena is live in new york with the latest. good morning, phil, what's going

on. >> frank, good to see you. the house passed one of the most significant democracy reform bills since the 1965 voting rights act the voting and ethics bill also known as hr 1 passed with a 220-210 vote some of the measures include expanded early and mail-in voting, reducing restrictive voter id laws and restoring rights to felons, and that's setting the stage for an explosive battle in the senate where it will face republican opposition. embattled new york governor andrew cuomo is refusing to resign over allegations of sexual harassment by three women. during a news conference on wednesday, the governor apologized for quote making people feel uncomfortable but also denied touching anyone inappropriately. and finally, pittsburgh steelers wide receiver yo smith-schuster, battling that 425 female pound lion for a bit,

but ultimately the animal proved to be too much, and eventually he gave up frank, an excellent core workout nonetheless. >> anybody could do that with a fence up i would be impressed if the too the fence down. >> i tell you what if they had that same sort of tenacity in detroit, it would have been a completely different set up for a completely different career for barry sanders, you know, calvin johnson and the like over there, if they had anywhere near what that lion had. >> i used to live in detroit, i think a lot of people wish the exact same thing we appreciate it have a good one. >> have a good one. still ahead on "worldwide exchange," a growing number of corporations bypassing the texas governor's decision to drop covid restrictions details of who's telling customers they need to keep on wearing their face coverings. and if you haven't subscribed already, you really should if you miss "worldwide exchange," you can check us out on our podcast, apple spotify, otr podcast apps

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you're watching "worldwide exchange" right here on cnbc ♪ ♪ and welcome back to "worldwide exchange," i'm frank holland in for big papa, brian sullivan and here's how your money and your investments look right now as we're halfway through the 5:00 a.m. hour i got to turn and look at the board. it's been a roller coaster ride so far this morning, and you see all the indexes in the red, declining from earlier today, and this after stocks once again suffered steep losses on rising bond yield fears let's take a look at the ten-year treasury. we have been watching it all yearlong right now it's sitting just above 1.47 you got to remember that bond yields, they've risen more than 50 basis points so far this year turning to corporate news this morning, amazon is reportedly nearing a media rights deal with the nfl that will let its prime video service carry many of the league's thursday night games exclusively. the agreement will begin after the 2022 season.

the "wall street journal" also reports new agreements between the nfl and tv networks look to have those traditional media players paying as much as double their current rate. and texas may be lifting its mask mandate, but a number of big companies say they will still require you to wear your face covering. among them, target, starbucks, cvs and hyatt hotels meantime, grocery chain albertson's gym airpooperator lifetime, and many restaurants say they will not require face coverings. starbucks and mcdonald's, they have made similar announcements. this move comes as investors have been focusing on esg, environmental, social and corporate governance as they select stocks. now we got to turn back to it, the reddit rebellion, melvin capital is one of the hedge funds caught in the gamestop short squeeze in january new numbers suggest things might be looking up for gabe plotnik's

firm our leslie picker joins us with the latest details. >> there's no doubt it's been a rough 2021 for melvin capital. the firm at the center of the gamestop saga is starting to turn things around in february we have learned from four sources familiar with the matter that melvin posted returns of 21.7% in february. those double digit games came after lossesof 53% in january on some wrong way short bets my sources were unwilling to disclose the specifics of what actually caused the turn around in february. the firm declined to comment on performance but melvin has said previously it closed out its gamestop short position in january. that was initially what caught the ire of the reddit crowd, put positions disclosed toward the end of 2020, making melvin and its found dave plotkin, an enemy. he found himself snarled in the web of gamestop, even appearing before congress a few weeks ago as lawmakers sought to really

unpack what led to the volatility in certain stocks plotkin said at the time that he had been short gamestop since the firm was founded in 2014 other than that name, it's unclear exactly how the firm is currently positioned and helped it really rebound in february. its latest disclosure, though, showing positions from the end of december indicated that melvin's largest long holdings including expedia, facebook and mastercard, and that filing noted that confidential information had been omitted and filed separately with the s.e.c. managers can request this type of treatment if they believe it would impact their portfolio, frank. >> interesting here. a big turn around from january to february, 20% obviously a great gain so have they changed their short squeeze strategy or their shorting strategy at all >> so bloomberg has reported that they have, that they've actually taken smaller positions, tried to really limit their risk exposure from a short standpoint they obviously have thrown in

the towel at least as of january on their gamestop position it's unclear whether they have reentered that position since january, since they came on the record saying that they were -- they have decided to close that position, and then they've also kind of changed the way that they plan on disclosing things this is also according to the bloomberg story that they don't want to necessarily be listing their put position or bearish options bets against companies like gamestop, which is how initially they became targeted amid this squeeze that took place in january. >> ongoing story for sure. great reporting as always. we appreciate it have a good morning. turning to oil, the coalition of oil producing nations meets virtually today to decide if they will or will not reverse production cuts they made last year the meeting comes as oil prices rise to prepandemic levels with u.s. production taking a big hit

after winter storms and as the economy looks to pick up joining us is helima croft, managing director and head of global managing at rbc, and a cnbc contributor, and a friend of the show. how's it going >> good morning, frank. >> we've got drama in the oil market what are you expecting from this meeting of opec plus, and especially saudi arabia and can you expect anything because that oil minister is unpredictable. you call him the prince of plot twists >> there's royal highness, he loves a surprise ending to the monthly opec meetings. our expectation is that we will be seeing some opec plus barrels coming back. potentially in the 500,000 to 1 million barrel a day range the big question is, though, how much of those barrels are going to be saudi barrels. in january, prince abdelaziz did his unilateral 1 billion barrel a day saudi cut. a shot of adrenaline into the oil market that cut is supposed to end at the end of this month, and the question is will he hold those

barrels back he has expressed concern about the potential fragility of the recovery we think he's going to be very cautious in bringing barrels back on to the market. he was the person one year ago who wanted a deep cut because he was very very concerned about the pandemic he was thwarted by the russians then but his whole mantra is you need to be prudent when you look at this market. >> interesting, the prince of plot twists leaving surprises for later today. we were showing the oil prices where wti are sitting at, both just above $60 a barrel, how does the potential of u.s. shale drillers getting back online, and u.s. production ramping up after what we have been seeing in texas, how does that impact the discussions at this meeting? because according to your research, their collective break even is at $95 a barrel. >> right, and within that collective break even for opec members, you have countries on one end of the spectrum, united arab emirates who can balance their budget in the 60s and venezuela and iraq need triple

digits to balance their budgets. they are concerned about what is shale going to do, is shale going to come out and essentially kill the party by ramping up production. shale ceos have been quick to say they're going to remain disciplined. certain countries in the opec plus coalition, most notably the russians are concerned about giving a lifeline to shale their oil minister, deputy prime minister has been out essentially saying if we don't put more barrels on the market, other producers will, and we all think the russians are talking about u.s. shale producers. >> back to the prince of plot twists for just a second, i know he's kind of concerned about people shorting the oil markets. shorts have declined a lot over the last year, is that what he was going for when he kind of put up this unpredictable stance out here to the public >> well, he's been really clear. he wants to basically eviscerate the shorts he has said that in his press conferences, and i think this monthly meeting structure now

keeps investors on their toes. opec used to meet, you know, twice a year there was more forward guidance about production policy. he likes to make sure that we're always guessing and can't take saudi production for granted. >> short sellers at the top of everybody's mind these days. let's talk about another situation tom of mind, iran. right now we're under u.s. sanctions, 100 million barrels a day that we could put out. what's the probability of barrels being released and what would that do to the oil rally. >> that's a great question when president biden was sworn in, a lot of people expected that the u.s. would go back into the 2015 landmark deal and essentially relax sanctions on iran those talks look like they have stalled out for now, i mean, yes their negotiations are ongoing, but it doesn't look like we're going to get a near term breakthrough which is going to bring those barrels back on the market in the next couple of months it's liking like the barrels

would not come back to end of year or 2022 they don't necessarily have to figure out how do you make room for the iranian barrels. unpredictability into the middle east we saw those, you know, strikes by biden on the syrian targets last week. there is a question mark about if we don't get a deal and iran continues to make progress in their nuclear revamp up. are we going to see some type of more of these incidents in the middle east, will we see israelis doing strikes on iranianfacilities as well. >> a lot going on, probably a good show on one of the streaming services helima croft, thank you very much >> thank you for having me. a praogramming note, don't miss exxon ceo on "squawk box. and later today, brian sullivan leads two critical conversations for our cnbc evolve live stream. he speaks to occidental ceo

about how the company is innovating for a sustainable future, and a must see conversation with former secretary of state, and u.s. special envoy for climate john kerry who discusses president biden's energy initiatives and the need for a smart grid. here's a little preview. >> i think president biden is planning on a major infrastructure initiative. we need that desperately in america. we need to look at what happened in texas we need to build out our energy grid we need to have an energy grid we don't really have one in the united states newsthat's a smart grid that connects one part of the country to the other there are great opportunities here huge opportunities for growth and i think we're going to see international consortium grow as people find it convenient and financially rewarding to combine efforts in order to do some r and d for one particular technology or another. >> and more information about that live stream on cnbc.com

all right. still coming up, the streaming wars paramount jumping into an already crowded pool we'll break down if it has what it takes to make a dent. but first, as we head to break, some of your other top stories. billionaire jorge palo is stepping down from the board of kraft heinz, the company saying in a regulatory filing, lamonday decided to reduce his travel commitments and will not seek reelection it was not the result of disagreement with management or the board. and another setback for spacex after the starship prototype exploded after a successful landing in a flight test, the company says the cause of the explosion is not immediately clear. and the kings of leon getting in the growing frenzy over crypto collectibles, the band will release a new album in the form of a $50 nonfundable token tomorrow, making it the first band to do so "worldwide exchange" wille ba ia me ckn montthese folks, they don't have time to go to the post office they have businesses to grow

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student loans don't have to take over for the rest of your life. thank you for allowing me to get my money right. 44 past the hour a live look at times square. not too far from the headquarters of viacom, cbs, the latest company to dip its toe in these rising streaming wars. a bit of a rebrand, but we're going to get to that in just a second as i mentioned, today is the official launch of paramount plus that's the rebrand of cbs all access a new streaming service technically, and it's a new home for brands like mtv,

nickelodeon, comedy central, cbs news, and more the stock is a huge winner in 2021 with a 90% game compared to the likes of industry titans disney and netflix, but does the new streaming home for star trek, spongebob and survivor have what it takes to stand out in an already crowded field. joining me now is axios media reporter, sara fischer hey, sara. >> good morning, frank. >> i saw a new article today, really breaks this all down. i have to ask from our viewers, what do you expect from paramount plus, a rebrand of cbs all access can it compete and does it have anything like mandalorian? >> they don't have any scripted series like mandalorian, but what they do have is live sports that's going to be the key differentiator between paramount plus and kcompetitors, you mentioned disney plus, peacock, netflix, amazon prime studios, et and the crown jewel is nfl on

cbs. in terms of fun dramas, new series, look to a lot of reboots. they're going to have a new refreshed version of frasier, and kids shows, rug rats update, and i carly. >> we are talking about what amazon is going to pay to secure live football, the crown jewel, and iconic programming whether you like it or not, jersey shore, that's pretty iconic, they're going to have that on there, and you also mentioned nickelodeon programming, so who's the target audience of this streaming service and can they realistically take market share from a disney plus and netflix? >> great question. i think the target audience is families you have something for everyone here your movie buffs are going to have over 3,000 new movies, they're going to have new hits like mission impossible 2 coming to the series just after they launch in theaters 45 days. you're going to have kids programming, as you mentioned. there's a new spongebob movie

that's coming out exclusively to the platform and for sports lovers, there's going to be live sports, and it's not just the nfl, frank, they have secured rights to new soccer tournaments in europe. there's going to be something for everyone what this lacks, in my opinion, is mature programming. you have services like hulu that have exclusive fx programming, shows like breaking bad, shows like bob's burgers you have a lot of that going on. there's not going to be as much of that here, although to your point there's going to be a lot of really strong reality as a jersey girl, i'm excited for jersey shore as well as other reality hits, "survivor," "big brother" and more. >> and you can take your phone while you gym, tan and laundry, and watch jersey shore a lot of people are scratching their ahead about some of the programming, they're bringing frasier on to the platform they won't have yellow stone they sold that to peacock, and they won't have the chappell show because he said he doesn't

want his content on there. so what things do they have coming up? do they have any other premium things like those three things coming up on the horizon that might draw viewers in? >> yeah, that's a huge challenge, not just for via come cbs but a lot of streamers who wanted to pay down debt or raise a little money, they sold off some of their prime inventory to other streamers. they're not going to get some of that yellow stone content on their service soon, although they are planning some new reboots of yellowstone, some spinoffs i think some of the crown jewels are things you're going to expect that are going to lure people in are the temple programming from cbs and viacom that have developed major fan bases around the world star trek series, a huge game changer. big brother fans, they're going to have every season on there exclusively. that's going to be the star programming on the show. the other thing that they've got, remember, avatar is a paramount pictures program because of that, they're

planning a bunch of new avatar series, both for kids and adults that's going to be another big hit, but to your point, frank, this is a really competitive streaming landscape. it's not going to be easy for them to take market share from netflix, which has 200 million subscribers worldwide or disney plus which at this point has around roughly 100 million subscribers. tha they're going to have to be competitive, hold on to the nfl rights and continue to put out new streaming series and films and make sure people subscribe and stay with them. >> i'm personally excited about the star trek next generation spinoff, the next generation, a little nerdy, but we want to thank you for your time and insight. we appreciate it and you want to be sure to read the break down of paramount plus and what's at stake right now at axios.com. still to come, if you are dazed and confused by this week's wild market swings, you're certainly not alone we'll talk rising yields, techs

tumble, and much more with citi's steven whiting. if you missed "worldwide exchange" check us out on apple, spotify, and other podcast apps. "worldwide exchange" will be right back no one likes to choose between safe or sporty. modern or reliable. we want both - we want a hybrid. so do banks. that's why they're going hybrid with ibm. a hybrid cloud approach helps them personalize experiences with watson ai while helping keep data secure. ♪ ♪ ♪ from banking to manufacturing, businesses are going with a smarter hybrid cloud, using the tools, platform and expertise of ibm. ♪ ♪ ♪ [announcer] durán catches leonard with a big left. ♪♪ you can spend your life in boxing or any other business, but one day, you're gonna take a hit you didn't see coming. and it won't matter what hit you. what matters is you're down.

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in just the right place and that will be the tipping point that changes everything. ♪ ♪ welcome back to "worldwide exchange." stocks are coming off a negative session with rising bond yields, the nasdaq which fell 2.7% is o track. the longest losing streak since september which our next guest says rising yields are not necessarily a sign the bull market is coming to an end let's bring in steven whiting, global investment strike that just at citibank you put out notes recently saying that volatility is going to keep going as long as we see bond yields rise and we may be on course for a correction but that's not actually a bad thing. you got to explain that one. >> well, the bad thing part is nobody wants corrections

but this is not the end of an expansion. this is not the risks that we faced in 2018 when the federal reserve was tightening monetary policy with two different levers this is the bond market just negotiating with the stock market to find a new equilibrium. we value every asset relative to interest rates, the opportunity cost of taking less risk and still earning a return the bond market, again, was very poorly priced for a big economic recovery that recovery is being driven by vaccines, end of covid it's going to be driven by another large stimulus, but who will pay for that stimulus will the federal reserve raise the amount of its bond purchases even further probably not so what happens, we've got to, again, use some real resources to pay for a stimulus. the economy recovers, the yield curve steepens, allof this is very normal. but any asset that became

overpriced for an extra low interest rate for a crisis low interest rate, that's what's vulnerable to some correction. >> obviously we're seeing yields rise in your mind, what does that signal to investors, and what does it mean for the equity markets and longer term, what does it mean for the bond markets. a lot of people are watching the ten-year, especially people thinking about refinancing their homes. >> at this level, we're not in any, you know, danger of creating some big valuation problem for equities we do have to live at the moment with the greater uncertainty about the range of interest rates, how do we discount hthes cash flows when the implied volatility, the range for the bond market is uncertain we create uncertainty in every other asset class, but let's just be clear here, the fed is going to be on zero through next year yield curves steepening in every early economic recovery. that's going back even long before the 40-year track record that we have had of falling bond

yields during most cycles, and it's really just the signal, the same underlying symptom of a recovering economy is going to have some interest rate pressures. it's going to bring up inflation expectations to some degree. now the extra wrinkle on this is borrowing a lot more money for stimulus that will be spent in the economy. that will be spent, pad corporate revenues, so all of this is generally good for stocks and negative for bonds, but the bond market is still going to have a toll so coming into this year in our outlook, we expected double digit earnings gains and single digit returns for stocks because of rising interest rate pressure at the long end of the bond market, the reason to just stick through this is the coming year, we're still expecting 2022, 12 to 15% growth. >> you're saying the rising bond yields are a signal, the biggest economy is ready to get rolling but also saying you're overweight on latin america and

emerging markets how do you justify both things at the same time if this economy is ready to roll >> well, it's about what happens next, right, latin america is extremely beaten down relative to other cyclical trades that we have done. for example, last april, we added an overweight to small cap u.s. stocks. they rallied up 90%. we have trimmed some still think there will be returns. latin america rebounded, but it's far less complete you take a look at the covid shock, it is just far more profound than the last they're going to be later with the vaccines, so do you want to think about 2022 with a part of your portfolio, not what's performing now, but what still has the capacity to perform well brazil's currency, for example, you know, is down 20% versus the u.s. dollar, simply because of covid, and there are other reasons, but it's down more than that these are the reasons why, again, uyou have to position a portfolio for what's next. last year as we hit those crisis

lows, it was time again for a position of recovery, and there are still areas of recovery, a rebound that have not been priced in yet. >> steven wieting, we appreciate the insight. that does it for us on "worldwide exchange," sq"squawk box" is up next. want to save hundreds on your wireless bill? with xfinity mobile, you can. how about saving hundreds on the new samsung galaxy s21 ultra 5g? you can do that too. all on the most reliable network? sure thing! and with fast, nationwide 5g included - at no extra cost?

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good morning, tech wreck stocks pointing to a low open after the selloff in the big tech names yesterday, nasdaq fared much worse than the other averages. we'll show you what's moving right now. the house cancelling the day's session over security concerns but passing new bills on voting rights and police reform a full run down is straight ahead. plus, a potential shakeup for nfl tv rights. we have the latest reports on the bold move by amazon.

it's thursday, and it relates to thursday night, march 4th, 2021, "squawk box" begins right now. >> good morning, everybody, welcome to "squawk box" on cnbc. i'm becky quick along with joe kernen and andrew ross sorkin, and we're going to start with the markets this morning the tech stocks really got slammed once again yesterday dragged the dow down by about 121 points that was a decline of just 0.4%. the s&p was down by 1.3%, and the nasdaq was down by 2.7%, that's the second day in a row that you have seen the biggest hit taken on the nasdaq. in fact, the nasdaq over the last two days down 2.7%, down 1.7% the day before, and that's the biggest two-day loss we have seen