it is 5:00 a.m. on cnbc global headquarters here is the top five at 5:00 scott minered back with us after the spot-on call after the bitcoin meltdown the latest on crypto and the fed and more. done deal? amazon set to make a $9 billion bet on streaming the studio behind james bond and rocky. the battle for free speech as florida takes a swing at facebook, twitter and google

banning them from banning anyone from telling them they need to explain why they cut certain people off. a meeting with musk. the tesla ceo tweeting about a development of his concerns of crypto and the carbon footprint. let out of the mix why nike and lululemon is falling out of favor with the consumer this tuesday, may 25th this is "worldwide exchange. good morning, good afternoon, good evening welcome from wherever in the world you may be watching. thanks for joining us. i'm brian sullivan here is how your money and markets are setting up today futures are higher again we are seeing a move up in the dow. 95 points.

nasdaq futures up more don't look now the dow is actually up three straight days. of course, today, could make it four boeing helping the index on monday all of the volatility in equity markets in the past two weeks have been defined by the late-week comeback we are up three days in a row coming in to today the cryptos today after a huge comeback day on monday that is not tv hyperbole bitcoin with the best day since december of 2017 ethereum posting its best day since october of 2017. maybe that exhausted buyers and sellers. it is quite calm right now bitcoin is down 3.5% ethereum is down a little bit. ripple is up we will call that market slight to slightly mixed. the other big mover on monday was crude oil.

up another 3%. we are down a little bit wti crude is just under $66 a barrel as oil continues that slow march higher this year. around the world, our big move here on monday may be helping power asia to nice gains overnight. shanghai composite surging 2%. green across the screen there. europe is getting their trading day started. mostly green don't look now like our dow, we don't talk about europe much. the german dax, not to be out-done that move higher at an all-time high the biggest stock market in europe also seeing record highs. let's get back to the markets in a moment. let's kick it off with the headlines happening. including florida with a swipe at social media. kristina partsinevelos is here

with more. >> reporter: this follows the offer from the white house last week to pare down the proposals from $2 trillion to $1.75 trillion the negotiating team would discuss possible next steps, but offered no details about options. capito adding she is not willing to call it quits and ron de santis is signing law to penalize companies. the law to prohibit what it calls de-platforming is the first in the country and may be a model for other states to follow all tech business group says it runs counter the law is a blow against silicon valley elite who said

they were looking to concert political views. and authentic brands group is going public this year. it owns brooks brothers and couture and forever 21 it has held discussions with advisers about an ipo and could seek valuation of $10 billion when it goes public. brian. >> that would be a big pay day now take it public and everybody bank some coin kristina, see you in a few minutes. fears over inflation among investors. fading in the last day or so on comments calling pressures transitory again whatever that means. it is a topic we raised in the conversation with scott minered yesterday and how long those pressures will remain.

>> if i'm right and the inflation scenario is not going to play out the way people fear, then we will find inflation a year from now when we have year over year comparables will be significantly lower than where we are today and the market is not priced for that. >> joining us now with the macro and maybe a couple of special picks is john wynn do you believe the time period may be referred to as transitory >> that is the big word. i guess so i believe it is hard to come up with a thesis we will have an inflationary requirement that is problematic where the fed needs to step in it has been labor. i think it is a supply-driven

issue here when you hear about shortages, typically it comes back to labor shortages on the factory floor and restaurants. we need to see how it plays out in unemployment benefits and people coming off the sidelines and taking jobs. i think i agree it is transitory or temporary i think we are in good shape i don't think the fed coming in and raising rates to dampen demand would work or help the issue. >> i spoke with a restaurant owner yesterday, josh, she said she cannot find workers. everybody who has come in has asked to be paid in cash they wanted to continue to accept unemployment and working for cash under the books she had to turn them away. i wonder how much of that is being played out is that enough to stall economic

recovery the money is there it is a measure of mostly small businesses are going to be able to prosper >> i think that says it all. i think people are rational actors and they want to use their time wisely. i think this idea that the job will be there in a few months when pbenefits will run out is accurate that says it all i think we need to -- it will be tough. we love to look at data points we need to wait a few months and see how it plays out it is hard to imagine that somehow -- i don't remember any issues on the labor front. restaurants and factory floors 12 months ago and now after a pandemic is an issue especially with the numbers and case numbers and the like are so compelling we haven't kicked it it's getting there

i think -- >> i'm always trying to find the best data point which is to speak with people and let them talk to you and tell them what they're seeing leave us with some opportunity and picks. we are talking about an infrastructure bill. everybody is talking about costco nobody ever talks about bj's wholesale club another stock you like right now for very different reasons. >> exactly they are both in the cornerstone midcap 30. we are looking at the earns growth quanta and infrastructure services for utilities grid and modernization that is not why we own it. it is certainly fits in the theme of infrastructure that is getting talked about more as we get closer to some kind of a deal there bj's wholesale

it lives in the shadow of costco membership-driven model. nice growth. expanding the footprint slightly in a thoughtful way and both have compelling evaluations and operating metrics. we are excited to have those in the portfolio. >> good stuff. leaving us opportunity josh wein, always a pleasure to have you on. have a great day >> thanks, brian you're welcome when we come back, more from our exclusive interview with scott minerd we will get his take on gold, silver and one more precious commodity. and hitting the skids. the electric vehicle maker that is down big and running into trouble. this is the mystery chart. we will give you the name behind it and later on

bezos meets bond the latest deal and this one going after the movies the dow is down 96 we are back after this (♪ ♪) whether it's a technology first, (♪ ♪) a fashion first, (♪ ♪) a science first, (♪ ♪) or a first for us all (♪ ♪)

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get started with a great offer, and ask how you can add comcast business securityedge. plus, for a limited time, ask how to get a $500 prepaid card when you upgrade. call today. welcome back time for the three big money movers stock number one bezos. bejeff bezos amazon is in a deal to buy mgm

for 9bil #$9 billion home of the james bond franchise and massive library of tv shows and movies that could be integrated right into the amazon prime. stock number two lordstown motors that is the mystery chart. electric car start up with a first quarter loss it is seeking additional capital to keep going. lo lo lordstown says the pickup truck would be limited this year. stock number three is square shares up again. rising on a report it could offer savings and checking accounts in the near future. bloomberg says the company plans were revealed in a code with the update to the square app whoops square is not commenting coming up, how one tourist and an educational landmark in

the city of brotherly love is getting back on its feet as the restrictions ease. we will talk to the franklin institute. >> announcer: today's big number $1.93 billion. that's how much ethereum miners have made so far in may according to research from the block. the price of ethereum is down sharply from the may 12th high above $4,300 ♪ i wish that i knew what i know now ♪ ♪ when i was younger ♪ you need a financial plan that fits the way you want to live in retirement. a plan that can help grow and protect your money. now or in the future.

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welcome back it seems appropriate the museum and science center named after ben franklin is the first to reopen in philadelphia the franklin institute did that. reopening to the public last july when so many others remained closed. they did it safely we expect nothing less now, they are preparing for the next and final step with a full reopening of the franklin institute and the city as well the president and ceo larry dubinski is joining us now larry, you did something that people thought was nuts in july of 2020. you proved it could be done and safely and welcoming visitors since that time. what is the next step?

what is the franklin institute going to look like if i bring my 6-year-old there next month? >> good morning. safety from the beginning has driven what we have done people have had a couple time safely learning about science. when you come, philadelphia is open and safe. it is safe to go inside. it is safe to learn and be excited about science and technology if there is anything this year has shown us is how important science is when you come to the institute, almost every exhibition is back open we made a few modifications. obviously, every type of pro ton >> by the way, larry, as we have learned, as you you have

learned, especially running a science institution, science has evolved in the last six-to-nine months how will you continue to evolve? >> last year, we moved digitally online to make sure we continue to work with people, not just here in philadelphia, but around science. that word pivot and the only thing we know is the certainty is the uncertainty we are continuing to make changes as we move forward we will. as we look at this and we saw last year as a tough year. we are 65% earned revenue as many science is centers in north america. we are ready to be back and welcoming people i think the community is ready to come in we are seeing build up now i think once cities and country says we're open for business, that's going to work well. i think also what we have seen is really how philanthropy has

helped us. that corporate philanthropy has been key the partnerships have only elevated through the year. we know that companies in pharma or banking or energy, they provided support because they know how important it is to continue that inspiration of science and tech among old and young alike and provide scientific facts as you said, things are continuing to evolve >> has it been hard or frustrating? i'm sure the last 15 months have been hard in so many ways, larry. i cannot imagine what you have run and keep people in and volunteers and employees has it been tough to kind of gauge where to come in on the ever changing science and the ever changing rules? that's not to take a jab at

anybody or any organization. i would imagine we are seeing this first hand. there is a lot of organizations. with we we spoke to the head of the met in new york last week. maybe you don't need to wear a mask the best thing to do is side with caution where do you come in and how hard has it been for you to keep up with the changes? >> brian, i appreciate that. it has been the toughest year in the 200 years of the institute's history. whether through two world wars or depression or other pan dem pandemics. it is going to be slow to build back we really consult scientific experts. i'm fortunate on the board i have great scientists. we are able to get in daily and understand what is there

as i said earlier, you have on to make changes. i think we will see mask mandates continue in institutions like ours for the near future. we have so many kids that come in and many are still unvaccinated i think that message is clear. if you get vaccinated, you are safe to come indoors you should we're going to continue to make those changes as we go forward >> larry dubinski, throwing the science out. if you are vaccinated, you are safe that's what we have been told. pennsylvania cases down 88%. quickly, is the planetarium open >> it's great. the planetarium is open. we had it open with limited capacity since last july there is always a wait to get in >> by the way, plan ahead. that is another thing with the crayola exhibit. check it out

larry, the franklin institute. thank you. i appreciate it. >> brian, thank you. thanks to everything you have done to cover this issue >> we have tried our best. larry, we appreciate that. having their team of scientists on board you expect nothing less from the franklin institute. let's check on the other headlines. moreinternational outrage afte belarus forced a flight to land. we have that and more with phillip mena >> faked a bomb threat forcing the plane to land to arrest an opposition journalist. the u.s. along with several other countries condemn the move the eu has gragreed on sanction

and telling european airlines to stop flying over belarus. after a year-long legal battle, former trump white house counsel don mcgahn has agreed to testify next week in a closed-door testimony on the mueller report the questioning will be confined to what is in the mueller report and about any comments made by trump about his role in the investigation. the transcript of the hearing will be made public a week later. lawmakers in texas passed a bill allowing residents to carry handgun withes without a permit. the governor will sign it into law. the gun control advocates are blasting the open carry bill arguing it strips safeguards from the gun pebuying process.

p and a big moment for phil mickelson and apology from the pga. an statement issued for spectators at the pga championship overwhelming security and making players and caddies feel vulnerable. that was the scene on sunday as phil made his way to the 18th hole pushing through the crowd of people as he went to the green. brian, this is what you were talking about yesterday. weird watching the mob of people crowd phil as he approached the 18th there as if we're not just crawling out of a deadly pandemic >> yeah. i turned to my family and said this is the start of something really cool or going to be a weekend to remember for all the wrong reasons. there you go we have the apology from the pga. phillip, thank you very much >> all right as we head to break, a big reminder cnbc is auctioning off an nft in

honor of mark haines in the haines bottom call we are selling a set amount of tokens proceeds go to autism speaks and the council for education which focuses on financial literacy. you can check it out at mintable.app/cnbc. auction ends tomorrow morning at 10:30. 'rbaft this. dow futures up 96. front desk. yes, hello... i'm so... please hold. ♪♪ i got you. ♪ all by yourself. ♪ go with us and get millions of flexible booking options. expedia. it matters who you travel with.

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sell in may and go away. you better hope not. stocks look to keep the win streak going futures are higher once again. a monday to remember in crypto bouncing back in a big way and the man who called the big drop is back. our latest with scott minerd on what led to his call on this program on the big drop for bitcoin. >> the thing that, brian, alerted me to the problem with the rapid rise of bitcoin is it had gone exponential it is automatically unsustainable. open the wallet and book the trip now new data this morning on the big jump by americans when it comes to spending to hit the road or the skies this summer. it is tuesday, may 25th. this is "worldwide exchange.

welcome. welcome back good tuesday morning i'm brian sullivan thanks for joining us. here is how your money is setting up this tuesday. we are seeing futures higher once again nasdaq futures up, but not quite half a percent 72 dow figutures up 100. dow is actually up three straight days coming into today. we could make it four. it seems hard to believe given the swings we have seen. especially early in the weeks the last couple weeks. the last two weeks have been defined by big moves up. check out this this could be an rbi two weeks ago and last week, the s&p 500 rose 3.13% from its wednesday low to the friday

close and 3.11% from the wednesday close or low to the friday close each of the last two weeks. that according to instanet the last two weeks were mirror images of each other we will have more on the markets and your money and more stats like that in a moment. more of the other top stori stories. including the global minimal tax. we have kristi na back with mor. >> reporter: the biden administration is expecting strong support from the g7 members for the proposed 15% plus global minimum corporal tax. deputy treasury secretary said he expect that support to be voiced at an in-person meeting of the finance ministers in london next week americans are planning to open the wallets as they wrap up vacation plans

a summer travel report shows more than 60% of travelers will spend the same on summer trips compared to 2019 only 13% will spend significantly less the report adds a majority of travelers will stay in a hotel compared to 23% who opt for pri private rental. elon musk is having discussions regarding the sustainability of bitcoin. musk reveals he spoke with miners about the commitment to renewable energy use this comes after musk announced tesla would no longer accept bitcoin as payment for vehicles over the carbon footprint concerns brian, it is incredible whenever musk comes out and you see the swings in bitcoin. he claims he is not capitalizing on this. he has not sold bitcoin as of late. >> certainly on the tape and talking about the dogecoin and the bitcoin and tesla's buying

it there is confusion i understand it. i wonder if he sits home and says, watch this >> reporter: did you watch him on "saturday night live" and the fact he brought up dogecoin and calling it a hustle? >> i did not watch it. we heard about it. kristina, thank you. take care. nearly one month ago today, scott minerd was on this program making a big call on bitcoin at the time he said you should expect a selloff of up to 50% of bitcoin. turns out he was nearly right on the money. we sat down with scott yesterday and began by asking what led him to that call and what we should expect in the weeks and months ahead. >> well, the thing that, brian,

you know, alerted me to the problem with the rapid rise of bitcoin is it went exponential any market that goes exponential is automatically not sustainable. i looked at it and realized given the size of the move which was essentially a mania or a bubble, that traditionally you get 50% to 75% declines coming out of the top of the bubble you know, i think at the time i remember saying i thought the bottom would be between $20,000 and $30,000. we have yet to hit the $30,000 we got really close. you know, i think this kind of decline is a washout if you look at the stock market crash of

1987 it takes a while to build a base and consolidate again. of course, the other problem is the proliferation of competing currencies which, you know, is actually taking some of the capital away from those who invest in bitcoin normally and allocating to other coins. >> do you feel like the selling, for the big ones, bitcoin and ethereum, is over? do you think it is flushed its way out of the system, scott >> i think you could afford to be patient here. i think we have more to go i refer to this as it is tulip mania. i did that because if you study tulip mania, why it happened with the rise of the dutch trading companies, the dutch were exposed to tulips which came from the middle east. so, they became a novelty and a

sign of wealth then they discovered they could take a red tulip and yellow tulip and cross breed them with red tulips with yellow stripes there was a proliferation of tulips as the prices rose, ultimately, there were people who invested in building hot houses and coming up with new breeds of tulips >> the ecosystem of tulips i can still buy tulips today they still have value. they came down, but they still exist. >> that's the funny thing. brian, a lot of people say i flip flopped here on crypto and bitcoin. the answer to that is no there are still tulips and there

is still bitcoin it will take a while to repair the damage, but bitcoin, i think, is the survivor there will be others that are survivors. just like back in the internet bubble, you know, who was going to be the survivor amazon or pets.com you know, we had to have the flush-out and the crash in prices to have time to sort this out and i think that's what we will have to go through for the next couple of years >> do you think it is going to be bitcoin or ethereum orbit coin and ethereum how does it play out >> that's the tough question you know, i think bitcoin and ethereum will survive. let's go back to the internet bubble aol was the absolute winner. nobody questioned that they were the leader yahoo! was the winner. then google came along and other

players came along and i think we will find out there will be some new crypto that comes along which can overcome some of the issues we are facing right now with the cost of mining and all of the carbon production and issues like that it will be a superior form of crypto i think that will become the dominant crypto. >> is it possibly something called silver coin you take something out of the ground and put it in a metal i'm being sarcastic. i'm talking about silver the actual metal you have been a long time bull on silver. do you remain bullish on the metals >> i am. brian, gold, as money leaves crypto and people are looking for inflation hedges, gold and silver will be much better applica places to go it will take a while to build

momentum in gold because the size of the market is so much bigger and so much gold in the world. ultimately, gold will move into an exponential phase i think, you know, $5,000 to $10,000 an ounce for gold is in the cards ultimately after gold starts to make a move, silver traditionally lags and silver is the poor-man's dp gold it is the one with the largest move on the percentage basis ultimately it is the high beta version of gold i think having a fairly significant allocation of that and the gold miners, gdx, would make a lot of sense right now. >> what is amazing about the last few months of the inflation debate is how little yields and bonds have moved as far as government bonds go. when do we get a talk of fed taper or raising rates how long

ultimately goes on you are one of the few in the world calling for a lower 10-year yield. does that give you optimism on your outliar call? >> it is interesting, brian. when everything moves together at one time and the correlation all moves toward one, that's telling you that you are getting into some speculative phase. the last time we had the correlation with the bond market and stock market as high as it is today was back in 1999. we're not to the peak yet of that correlation as you know, if the bond market sells off, so does tech. if tech rallies, the bond market rallies.

so, all this is telling you is all of these assets are highly dependent upon the federal reserve providing money and continuing to pump them up as other assets fall out of favor, like crypto, there will be another asset that comes back into favor if i'm right and the inflation scenario is not playing out the way people fear, then we will find inflation a year from now when we have year over year comparables is significantly lower than where we are today and the market is not priced for that we could see when stocks go down which they will then the bonds are the investment vehicle if stocks don't go down and bonds rally, we will push tech higher and the stock market hi higher >> scott, what is likely to happen over the next six months

with the macro equity level in the s&p? stocks go up or down >> i think we are due for a correction i think we will get pull back of 10% or so. ultimately, we will see the s&p at 5,000 and possibly higher >> all right big thanks to scott minerd and the man who called that bitcoin big drop. coming up, shoppers say they want sustainability when it comes to the brands they buy one firm decided to rank them and the results and who is on it and who is not may surprise you. some pretty big names you know are not on the list. we'll break it down for you next

everyone wakes up every morning to a world that must keep turning. the world can't stop, so neither can we. because the things we make, help make the world go round. they make it cleaner, healthier, and more connected. it's what we build that keeps things moving forward. so with every turn, we'll keep building a world that works.

sustainability practices is becoming more and more important to consumers looking to give money to brands that support their values now the firm steeple is launching the practices and the focus on sustainability. we have jim duffy with us. jim, the top names bombas and patagonia are the niche companies.

i did not see a lot of big names that you cover as stocks on that list what surprised you most about the launch of the index? >> good morning, brian thanks for having me on the show we were not surprised by the outcome of the index what you see on the list is a mix of upstart brands launched with us sustainability as a platform bombas and others. you see outdoor brands which is vocal on outdoor causes and do well on social causes. and you see a mix of european footwear many european brands are further ahead on sustainability than north american counterparts. >> is that because they do -- do they do things differently i was looking at the index and thinking is this the perception

of sustainability? let's be clear s>> stiffel commissioned a survy of consumers across six markets. the survey reflects consumers perceptions of brands sustainability one of the things we see in the data is 50 companies for which we included in the survey. all good actors. brian, each has sustainability platforms. many, however, are not doing a good job of communicating to consumers about the efforts of sustainability >> that should help. it could possibly help get activity one quick name leave us with opportunity. we showed it on the wall if we can put it up. columbia a stock you also cover you have a buy rating on it target is above the current

price. does that factor in or is that a cherry on top of the belief in columbia >> that is a component of it for sure we see increased participation in outdoor activities with the pandemic columbia sportswear is a company with a strong balance sheet. we see clolumbia with strong orders and a lot of opportunity to leverage expenses and drive earnings and improvement >> jim duffy of stiffel thank you. >> thank you, brian. you're welcome on deck, it is your morning rbi and what many on wall street say are the biggest risks to the markets right now. do you think you know what the top risk is? i'll bet you don't we'll show it to you and get victoria fernandez to chime in

on it. dow futures are up 85. we're back in a moment at cdw, we get these new ways of working bring new threats. that's why we started an office commune. not a security concern around for 50 miles. unless you count the wolves. and all the llama milk you can drink. you know at cdw, we can design a security solution using hp elite devices with real-time threat intelligence

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time for the morning rbi the most random, but interesting thing is the biggest risk to the market in the months ahead from deutsche bank monthly survey the clients were asked to choose up to three risks. so here they are the top ranked risks right now number one may not be what you think. actually that is inaccurate. take that down that is not correct. the number one ranked risk is inflation. bond yields throwing a tantrum 63% of those surveyed marked that down. 20% fewer than the number two risk which is what you saw new covid variants immune to vaccines still a lot of fear out there. it was the number one risk last month. inflation went from down here,

boom, over covid and varivarian, followed by central bank and geopolitics. we talk about risk the big fear is inflation and how bonds react because of yields spike, investors won't pay as much for high growth. that could send stock prices lower. that is why you care about connecting the dots with inflation and the boring bond market and investments random, but interesting. let's bring in victoria fernandez at crossmark growth investments. you worry for your clients, victoria, so they did not have to how would you respond? is inflation your biggest risk right now? >> no, inflation is not our biggest risk i think the concern is the north

sees inflation as a risk although we see it as transitory, we lie in the same camp as the fed when you continue to see the headlines come through and there is a huge concern and people see it in the daily shopping habits in gas and grocery store prices then they get more concerned we have to remember, brian, that inflation is a year over year number or quarter over quarter number that people are looking at here. scott minerd said you look 12 months out from now and do the year over year comparison. we will not see continued higher inflation which is what the fed is looking for no, i think we see a little bit of inflation out there and we have to watch the baton handed off over to wage inflation that is when we start to get worried. we are not seeing that yet. >> you are not seeing it yet we have a well known business

person on this network who happens to live in your town of houston and owns the rockets tillman. he and everybody else says it is tough to get employees for whatever reason you want to choose the reality is to get them, you have to pay them more. you do not believe wage inflation is here to stay, it sounds, victoria >> that's the key phrase to stay. i don't doubt at all what tillman is saying or what we hear from the small business owners they are having to give bonuses for people to sign up. come september when the additional added benefits go away and some states have started to take that away. it will be interesting to see h how wages go in those states when school starts and when people are willing to go back to work we have to see what happens to wages. in the short-term, absolutely.

in the longer term, the fed is looking to see the substantial progress toward longer term inflation. i am not sure we are there yet >> okay. i know where we are and if you go to the galleria or the post oak bar, people are dropping down cards to buy clothes and drinks or coming out of the pandemic is that one of the reasons you like mastercard? >> absolutely. we liked mastercard for a while. it was a good way to play the financial space. again, it has multiple uses. yes, it fits into the reopening trade. you mentioned the galleria there were lines outside of stores not just because of the restrictions inside of how many people, but there were just massive amounts of people you could not fit in the stores. these were luxury stores we definitely have consumption april was weak

may, i think, will be strong credit card transactions are showing over the last two weeks 8% over where we were in 2019. i think you have a good bet with mastercard and visa here >> there it is consumer spending. how long this inflation story may last a name that you like and we love ending the show with opportunity. victoria fernandez, thank you. we will see you soon >> thanks, brian all right. that does for us here on "worldwide exchange. it goes by like that we will see you tomorrow another big show planned we leave it with "squawk box." next dow futures up nearly 100. have a great day see you in 23 hours. take care.

another day, another chance. it could be the day you break the sales record, or the day there's appointments nonstop. with comcast business, you get the network that can deliver gig speeds to the most businesses, and you can get the advanced cybersecurity solutions you need with comcast business securityedge. every day in business is a big day. we'll keep you ready for what's next. get started with a great offer, and ask how you can add comcast business securityedge. plus, for a limited time, ask how to get a $500 prepaid card when you upgrade. call today.

good morning a tweet by elon musk moving the price of bitcoin again he says he is working to make mining more sustainable. amazon nearing a deal to buy mgm studios. the home of james bond the announcement between $8

billion. and florida taking on social media. banning companies from banning anyone details straight ahead it's tuesday, may 25th, 2021 "squawk box" begins right now. ♪ good morning welcome to "squawk box." i'm becky quick along with joe kernen and andrew ross sorkin. the dow yesterday was up a half percent and the nasdaq was the big winner up by 1.4% what's wrong, joe? did i lose you it was up by 1.4%. you can see there are green arrows again dow futures indi