it is 5:00 a.m. at cnbc. here is your top five at 5:00. finishing strong futures are higher as stocks continue to stake a late week comeback. let's see you smile. the cdc say those vaxxed don't need to wear a mask. even inside. reaction from businesses across the nation. musk loves the doge. dogecoin soaring on a tweet from elon musk on news it will be listed. and disney with the latest

streaming numbers like they topped out and wall street not happy. our segment on what companies top executives are making the biggest bets on their stocks insider buying stats you will only find here on wex. it is may 14th this is "worldwide exchange. good morning, good afternoon or good evening happy friday welcome from wherever in the world you are watching i'm brian sullivan thank you for tuning in to "worldwide exchange. let's get to it. your top story is the markets and your money the futures are looking better than they have every day this week they are higher. dow futures up 165 nasdaq up 113. all this following yesterday's incredible intraday rally.

dow, s&p and nasdaq breaking three-day losing streaks on the week, stocks are down dow down 2%. s&p down 3%. nasdaq has dropped 4.5%. nasdaq, if you are not paying attention, and you should, is on track for the fourth losing week in a row the first time that's happened since august of 2019 10 of the 11 s&p sectors ended the day higher after the vicious rebound during the day the only decliner of the 11 was energy which is overall hot so far this year. the inflation story, of course, still a big one. we are watching the story play out in real-time in treasury yields with the 10-year at 1.63%. crypto moved down yesterday as well check out dogecoin dogecoin is up 35% this morning.

we've got a couple of apparent drivers for the doge late yesterday, elon musk tweeted he is working with developers to improve the efficiency of transaction. that is after he announced wednesday that tesla would stop accepting bitcoin because of the concern of the environmental impact mining bitcoin takes huge energy crypto got hit on that news. the other catalyst for dogecoin is coinbase telling people it will offer dogecoin in next six-to-eight weeks dogecoin is more difficult to trade than other crypto. it uses a couple of exchange you have to build a wallet dogecoin up 35%. at 52 cents right now. around the world, asia is closing higher

singapore stocks fell after the government's announcement of more covid restrictions put back in place with the rise of local infections japan at 2.3% higher the early trade in europe is mostly higher to end the week. all of the major averages are up norway is in the red what's going on? everything else in the green except norway. you figure it out. your first guest today has been bullish on stocks for a long time. he has been right. through everything else that we have been through over the last couple years, the s&p 500 is up 50% since may of 2018. where does he stand right now? welcome in steve schiavarone great to have you on today we were on set a couple of years ago when we could do that thing.

markets were long and strong you have been right. do you remain that way >> we do we do. look, i think certainly a series of concerns you have over the summer i think this is a volatile summer you have sausage to be made by the government you have inflation data. you have an economy that is reopening. earnings growing at 50%. we're in the early stages. transitioning from economic recovery to expansion. that is a good time to invest. you need to be a stock picker right now. you need to own companies to pass along higher prices and things of that nature. we remain bullish. we have a 4,500 target this year depending on the next three months, we are looking at a good 2022 the next couple months could be volatile >> i'd like to get jerome powell

and fed heads in a bus and drive the country and buy stuff. get out of the country and see what people are doing and living and what they are paying we know inflation, if you are living and going to the store or buying anything, you know it's hot. that said, do you think the fed will have to act sooner? right now, no one expects a fed rate hike until 2023 do you think that? >> we think sooner we think growth is hotter than they expect. we think some of that inflation will be sticky i get the transitory argument. none of us did anything a year ago. oil prices fell. production fell. that makes sense two weeks after the second shot, you want to go out and do all of the oil things fly, drive, all that stuff it takes a while for that production to come back online that is the story. demand is coming back on

memorial day supply will not come back indepuntil labor day. you look at lumber we have under built houses for years. i think the inflation is durable. if this week's cpi didn't get your attention, it should. the 26th biggest monthly jump in cpi ever recorded in all 25 prior months which came in the 70s or 80s >> the good old days ac/dc and "star wars." we went to the ace hardware store and the manager told me he could not get grills there was a supply chain issue and they could not get drivers they wanted to sell grills they could not we try to ask all of our guests on a friday. give us ideas of what you like in stocks?

>> you have to like the cyclicals. if you are rising inflation and rising 10-year and the economy is growing the rate it is, you want companies that have exposure to higher growth. you want companies with commodities with an output, not input and shorter duration assets. >> what company is that like give us a sector not a company. you are being broad here. >> i got you energy, materials and industrials and financials >> not weber grills. steve, you are welcome to come over for a barbecue. i call it a vax-a-cue. >> i'll bring the bourbon. >> take care, steve. >> thank you all right. more on the markets and your money ahead.

right now, let's get to the other top corporate headlines. disney shares down 3%. earnings beat the street sales fell short maybe more importantly the company missed on subscriber estimates for disney plus. by the way, we will hear from the ceo in the next half hour. holy chip shortage i said chip. the global semiconductor shortage will cost the auto industry $110 billion this year. with a "b. cars basically rolling computers at this point. and a new development on the rails. kansas city southern announcing it has accepted canadian national railways' $36 billion offer. that tops the offer from canadian pacific the story is not over yet.

canadian pacific still has five business days to make a new offer. we are just getting started on friday. when we come back, the big money movers, including a big jump in doordash shares. as we head to break, check out the best performing s&p stocks we will leave you with green on the screen and good news cigna and occidental oil and tesla is up. everything's fine. we're back right after this. ♪ ♪ we know it's going to take many forms of energy to meet the world's needs while creating a cleaner future for all. at chevron, we're lowering the carbon emissions intensity of our operations, investing in lower-carbon technologies, and exploring renewable fuels of the future. we work hard to care for the homes we love. but it's only human... to protect the one we share.

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all right. welcome or welcome back. time for the big money movers. let's start with coinbase. in the first report, earnings and revenue coming in as expected cryptocurrency with lots of interest in bitcoin. the stock up 3.5%. stock number two doordash a nice pop this morning. revenue topping estimates raising the forecast for the total order value. how much are all those orders worth? we are raising it. doordash up 7% stock three. airbnb

bookings and revenue yois toppig forecast more people will be checking in to vacation rentals across america. up on deck, much more on the crypto frenzy with a top wall street analyst later, a "worldwide exchange" fan favorite your weekly look at what big company big wigs are buying the most of their own stocks these names have doubled the return of the overall market in the past few months. we will have them for you exclusively coming up. stay tuned >> announcer: today's big number 45.1%. that's the increase in north american freight spending compared to last april hitting a new record according to the task freight index. volume increased 26.6% in that period

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welcome back bitcoin bulls call it digital gold in part because it may replace the metal as a stored value and because there is a fixed amount of bitcoin that can be recovered. it is only 21 billion bitcoin to be ever on the ledger. what happens when the last bitcoin is mined kate rooney has that story >> reporter: 21million bitcoin

the golden number that can ever exist in the digital crypto universe more than 18 million has been discovered or mined. what happens when we get to 21 million? before we explore, we need to look at how bitcoin is created unlike other commodities mined like copper or coal. bitcoin is different there's no physical digging. high power computers compete to solve math equations whoever wins, gets the bitcoin added to the total pool. once the miners unlock and hit 21million, the supply will be tapped out when will that be? is it too late it invest the timeline may be longer than we think there are only 3 million bitcoin to be discovered the amount earned decreases over time which slows the process of unlocking them when bitcoin first began in 2012, the reward was 50 bill

c bitcoin. now miners gain 6.25 bitcoin for every new block discovered that will decrease every four years until the last bitcoin is found. some say because of the decrease, we may be 100 years from mining the very last one. in approximately 2140. i'm told that timeline could move up a little bit with new mining technologies and things like quantum computing could alter the math another change, some are working on making it more energy efficient after the carbon footprint isback in the spotlight after tesla announced it would stop accepting bitcoin for vehicles citing the environmental impact back to you. >> thanks to kate. 2140 that seems a long way off. in the meantime, coinbase

ceo was on "mad money" last night. >> you see we react to a tweet to react to a headline we shared with investors that this is a long-term investment we believe we are starting to get to the potential of crypto it could be a bumpy journey. we could see up and down days. >> joining us with reaction is the senior research analyst harshita rawat this is the first quarter of the publicly traded company. the market trying to figure out the numbers. what do you think of the numbers? >> thank you so much for having me here. i think it was a great report. the revenue grew year over year. it was in alignment expectations they pre-announced the numbers ahead of the listing the key debate on coinbase is

whether they can continue to grow in the face of intensifying competition with palpal and square and others with user bab bases the size of coinbase this is the reason we initiated the price target to $50 on the stock. the key highlight from the quarter was the emerging evidence of coinbase can diversify retail away from crypto trading it is very early days. retail crypto trading is their bread and butter and they are over-earning >> how do we look at coinbase, harshita is it a group like one that owns

the new york stock exchange? a value like palpal? is there anything analogous? >> that is just like the bull and bear i think the fact that 90% of the revenue comes from retail crypto trading. if you assign those kind of multiples on the revenue, then you get to a price target which is our price target of $250. the thing is i hesitate to put a paypal multiple on coin bbase which has the cycle. it is hard to put that on peak revenue in a cycle >> because if you believe a company like a coinbase or exchange, harshita, because

people buy and sell other things on the platform, you need to also believe people will continue to be interested. right now, crypto is booming huge interest. at some point crypto may slow down i don't know if they do, do you still see the level of trading interest and buying these 45 or 50 plus different cryptos that exist right now? >> yes in a way, it is easier to forecast long-term for crypto versus the near-term that will be volatile. i do think in the long-term crypto and i agree that this is here to stay this is an incredibly destructive industry we are in very early over the long-term, crypto

market cap should grow and trading volume should be elevated because of the 24/7 of the assets in the near term, it will be volatile we saw it with the tweet over the last two days. now the thing is right now, retail crypto trading. if you look at the fees, i believe it is over earning in the industry if you look at the brokerages and the fees came down we will see it crypto is here to stay the trading fees will compress over time. >> the crypto looks good all of them up 7% to 10% dogecoin up 34%. harshita rawat looking at the first quarter as a publicly traded company thank you for coming on. >> thank you for having me all right. you're very welcome.

coming up, let's have a mask burning party, shall we? the cdc says fully vaccinated people don't need to wear a mask even in fully indoor settings. what does that mean for businesses that are still confused if you are confused, don't be. subscribe to our podcast if you miss wex any day or you want to listen to it over and over check it out on apple or spotify or other podcasting apps today i think we have a 4.5 rating we'll be right back.

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a big friday finish. futures are higher as buyers come busting back into the markets. dow futures up 170 buyers may be coming back maskless a huge turn for the cdc. now saying dump the masks if you are vaxxed what are businesses to believe maybe not the happiest place on earth when it comes to streaming it is friday, may 14th this is "worldwide exchange. ♪ happy friday welcome or welcome back. i'm brian sullivan it is 5:28 here on the east coast. here is how your money and

investments look right now as we he are halfway through the 5:00 a.m. hour. every day this week, i had to come on here and say we're down 150 points futures are in the red not today. dow futures up 170 nasdaq futures with a pop. up 143 maybe momentum continuing from the huge intraday reversal that we saw yesterday all right. let's give you the scorecard on the big names you know and we have been talking about. given all the twists and turns, it is hard to figure out where we end up. with one day left to go, here is how we look. apple down 4% on the week. amazon, the same tesla, which is up nicely in the pre-market right now on the normal market down 15% of course, the widely watched, widely looked at and owned ark

invest etf down 10% on the week a weekly scorecard those numbers are likely to change given what we see in the futures market that's where we come in. it is time now for the favorite time of the week. your exclusive insider buying segment. we highlight the five companies with the most executives buying their own stock with their own money. not buybacks insider buying these stocks, by the way, as a group, have doubled the market returns. the s&p 500 is up 9% this year an equal weighted basket since we started this segment last year is up 18% insiders apparently know their business data coming from our friends at insiderscore.com as always, we count down five to one. stock five, intel. a board member with the first buy ever here you go.

intel. $250,000 the fourth most insider buying this week. gogo former american ceo bob crandall buying for the second time in six months stock number three masonite international a new board member making his big first buy. stock has doubled in a year. it has been weak lately. this buyer coming in recent weakness, but longer-term strength on $1.2 million the second most insider buying this week. trupanion. a board member, by the way, sold last year and now coming in to buy. she bought $1.4 million, but also exercised more than $600,000 in options. we're going to focus on the buy, but with the options, it would have been number one the company with the most direct insider buying by an insider

this week? activision blizzard. $1.9 million buy they have a strong record of buying the insider board member back in the market for the first time in two years. there you go names this week intel, gogo, masonite and trupanion and activision blizzard. right here on wex. now to the story that everybody is talking about the cdc's new mask guidance. saying fully vaccinated pe people no longer need to wear a mask even in most indoor settings frank holland joining us from atlanta with reaction from companies and what they are supposed to do

>> reporter: good morning, brian. let's do a history lesson. it has been a year since the cdc recommended a cloth face covering the former commander in chief would later wear a mask and since then we have seen confrontation over a face covering the guidance that vaccinated people do not have to wear a mask in many indoor and outdoor places have brought on mixed reaction the grocery workers union saying essential workers are still forced to play mask police for shoppers who are unvaccinated. are they supposed to now become the vaccination police another question how does this impact states with mask mandates? half the country still does and many businesses mandates face coverings. disney's ceo says this about the guidance and impact on the

business >> i think it speaks to the ability for guests to come in more significant ways to the parks. we are already increasing capacity to the parks given the guidance we have gotten. >> reporter: kroger said it will still have the mandate cvs is still evaluating. we have calls out to retailers we spoke to people in new york city about the guidance. >> i am comfortable without a mask there are places we still go into that require a mask >> i'll still wear one indoors for now. not so much outdoors >> give it a couple of days to see what happens eventually i will. >> reporter: so, brian, a lot of questions especially for businesses and our frontline workers on how to handle this shift in our daily lives

>> just continues to shift every day. the new york times article and the cdc using flawed data. the outdoor risk study is n now .1%. not quite zero frank, what are you hearing? what are people supposed to think and do companies have to be confused to your point of what they should do they want to be safe, but they know the risks and numbers that's the entire point. vaccination. >> reporter: brian, that is the point. the idea is for all of us to get to herd immunity one story is in sports preakness with 10,000 people indoors and outdoors what signs are they putting up how do they regulate it? in maryland, there is still a mask mandate in large ticketing

venue. how do you get all of the people on the same page with the mandate in the state after everybody just found out that the cdc said maybe you don't need it. how do you figure out who is vaccinated and who isn't the big story is this weekend with the big test. the signs at pimlico are a big indication of how people are going to handle it >> frank, forget about you being a reporter and friend and tv guy. as a human being, you have been on a plane in atlanta i have been to 15 or 17 states every trip i came home and talk to my family most of america isn't living like we are in new jersey. not a judgment call. you are in georgia is it culture shock when you fly from new jersey where people wearing 16 masks in their car by themselves and you go to georgia -- i'm not picking on georgia. people -- what are people to

believe when they see people living differently and all of the numbers nationwide are exactly the same >> reporter: brian, i can tell you for sure and you can attest to this. when you go to the southern states double masking doesn't exist that's just a fact i think general ly we have seen the same thing i'm going to continue to wear my mask in most places. i'm not vaccinated yet until we get to the other side of this, i'm going to continue to wear my mask. also a lot of questions if we actually can ever get to herd immunity because of the hesitation and variants. a lot of questions for me and a person and people that work on the frontline that have to be face-to-face with so many people not knowing if they are vaccinated >> essential workers you nailed it. you nailed another topic personal responsibility. a lot of people will wear masks.

i hope a lot of people do next year in the office we killed flu season frank holland, see you take care. >> have a good day you're very welcome. you, too, man. oil prices falling 3% after yesterday. you may have heard the colonial pipeline resumed operations nearly a week shut due to a cyber attack it has started delivers in all markets. president biden said supply should start to return to normal this weekend a huge number of gas stations are out of gas traders are monitoring situation in the northeast after israel mounted more air strikes in the gaza strip more rocket attacks on the israeli commercial center. let's bring in our friend at rbc

capital market all around superstar helima, good to have you on. colonial was a hell of a story the story is not over. a lot of questions still remain. longer term. the price of oil is more than about colonial we have tensions ramping up in israel we have the uae under fire for cozying up to israel as well the geopolitical situation which drives oil long term maybe has not been more confusing, if that is the right word, in years, has it not >> it is an interesting story. we have a back drop of certain countries seeing the united states where people are driving and flying again the demand in certain markets looks very good. u.s., china. those concerns with india and covid cases. you layer on the other issues. cyber attacks, tension in the

middle east. if this had been ten years ago, i think it would have put more pressure on prices now you can have incredible unrest in the middle east. the worst violence in the middle east in seven years. real talk about ground troops going into gaza. because you don't have physical energy disruption, it is not putting the type of pressure on markets like it would have done before that is the story. middle east unrest doesn't impact oil prices like it used to >> your latest report, by the way, always a must read on the street "days of rage. why did you pick that title, helima >> we picked that title because we're looking at the situation in the middle east we're looking at the unprecedented levels of violence in israel. we also have and if you think about the story of just seeing

this week in the united states with consumers really concerned. taking plastic bags of gas are we going to run out of gas the concern and risks to critical u.s. energy infrastructure it was an incredible week of the cyber attacks and unrest in the middle east and where this was going. >> you know, it is easy to focus on elections here. maybe not so much around the world. there is one that is key that is coming up. if you are an oil bull or oil bear, circle june 18th that is the presidential election in iran this matters it matters for the nuclear pact and iran's role on the world stage with the biden administration maybe its relationship and long-term impact for opec. what are you looking for from iran >> i think the next couple days are going to be critical in

iran we have the negotiations going on in vienna there is a sense if you didn't get an interim agreement to revive the deal, everything will happen post-election they were the architects the nuclear deal the expectation is on june 18th and if there is no nuclear deal, the hardliners are unlikely to prevail in the elections you could sit across the table from a different negotiating team iran is the arbiter on the nuclear program, but elections matter i think we're in the final days of whether they can get a new nuclear deal done. it matters for all markets it is 1 million extra barrels that could potentially come back or not >> yeah. i was speaking internally with my friend and awesome colleague

lacy o'toole the other day you look at colonial shutdown, the dakota access pipeline in a courtroom deal, you have the michigan line five which wednesday said has to be shutoff. they will not shut it off. it is 54% of propane canada is freaking out about it. the world of pipelines and gas distribution is massively like unsettled right now in the united states, helima. >> and the efforts to the nordstream iipip pipeline. they will lock you out of the pipeline because it is a russian influence. i think this is an evolving story. i think we're not done certainly with cyber attacks on critical

american infrastructure. this is a story about energy this week. is it a story about water supply power grid next week pipeline politics is here to stay >> pipeline politics here to stay we will use it as the title of the next report, helima. we will see you soon have a great weekend >> thank you you're welcome on deck, what disney's ceo told cnbc about his company's latest quarter and we talk streaming and theme parks and more with jpmorgan chase and dow futures up 164 nasdaq futures up more than 100. islot of green on the screen on th friday. good friday morning. we're back right after this.

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reported second quarter revenue and subscriber numbers that were lower than many on wall street expected what to do with the stock we have alexia quadrani with jpmorgan chase why so optimistic on the name given what appears to be not a huge, but slowdown in growth in streaming? >> we think it is a fantastic buy here it is our top pick we are comfortable with the rating the price drive is year over year that is the next nine months or so i think you will have to realize that the monthly gains of subscribers are monthly. you will not have a straight line report. i think you look at the quarter and the markets they are going into they have had a phenomenal

success in the previous quarters you had slower adds this quarter. they fell short of our number. a little bit of a miss versus what we are expecting. i think they have much better content longer term. they have one major content drop per week i think you have a lot of reasons. >> you might have heard. i don't know if you were patched in to frank's report on the guidance and mask wearing from cdc. florida has their own set of rules. california has its own set of rules. it could not be more different you have disneyland and disney world. how does the world we're in right now, the rules and masking, how does it impact limitations on how many people can go into the parks? how do you model the theme park

business, alexia it has to be almost impossible because the rules are changing constantly >> disney will be conservative with managing the mandates they could have gone to 100% capacity if they wanted to according to the governor's regu regulation i think you will see the capacity number raise quickly now with all of the changes in the cdc guidelines and improvements on vags nccinations you will see the losses narrow quickly. this is important. disney plus is hugely important. it is the number one priority of the company. in the meantime, earnings will double between this year and next year because the parks are recovering the real inflection point here with the projections from here

to 2023. as you see it play through, folks will pay attention >> you have analysts saying i don't know you laid it out. fantastic buy. price target up 25% from where it is right now. could not be more direct alexia quadrani, thank you >> thank you, brian. you're very welcome. big bull case for disney coming up, tiffany mcghee on the end of week stock rally you. don't forget, this week is asian-american and pacific islander heritage month. here is someone i worked with for 20 years melissa. >> when i was 11, i wrote a letter who was at the time the evening news anchor at wabc. i told her i watched her every

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all right. welcome back let's welcome back cnbc adviser and contributor tiffany mcghee you also love disney you are not that concerned about the streaming slowdown why do you love the house of mouse? >> the house of mouse. i love it. everybody loves the house of mouse, right listen, they absolutely missed it is all good i think about three things when i think about disney i think about parks, i think about films and i think about streaming. you know, a lot of people were

looking at that miss and netflix had their miss, but it makes sense that disney had a miss as well it is totally fine you know, i'm thinking about -- so, you know, first of all, disney is on sale right now. we love that we're looking at the opportunity that disney has in streaming they were able to do what netflix did in 16 months, right? netflix got to 100 million subscribers in ten years disney did it in 16 months >> tiffany, i know the numbers they left you speechless there for a moment i get it it happens to me all the time. you think everybody wants to pile on disney because of the slowdown we're in the media that's what we do.

you slowed down. you gained 100 million subscribers in just over a year. >> yeah. that's huge, right you have to think about it when you think about disney, the disney plus story is the most magical thing in streaming when you think about disney streaming, it includes hulu and espn by the end of the fiscal year, they had 146 million in subscribers across all platforms. when i think about the amount of money they will spend in content and the more money netflix spends in content, the more the subscribers grow and revenue grows. disney is set to spend $14 billion over the course of the year in the next few years netflix is spending 19 and think about parks. some parks are closed. some parks are at limited capacity as the world continues to open,

the parks will pop they are releasing the films. all together, it is bippity-boppity-bo the trifecta. >> are we more likely to stay in airbnbs over hotels for the foreseeable future >> airbnb reported earnings and the one thing that i was looking for was whether people were going to be staying longer term, right? they reported that number and their stays were extended. i don't think it is a contrast between airbnb versus hotel. i think we are in the reopen period when we come out of this, there will be employers to not require

employees to come back to the office we will have hybrid models that tells me people were doing this work from anywhere situation. listen, you know, if i look at and when i think about airbnb i think they have over 5 million rentals. they now account for 25% of the ma marketshare. if they were a hotel chain, they would be bigger than the top five hotel brands combined >> great stuff if you like rides, check out universal. it is fantastic. tiffany, thank you have a great weekend appreciate that. that does it for us on "worldwide exchange. we will see you on monday. i'm going to send it to "squawk" with all of the futures higher dow up 150 you're welcome, america. have a great weekend

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