♪ it is 5:00 a.m. on cnbc. here's your top 5@5. one of the world's biggest money managers is closing cold water on the recent bounceback showdown in houston, on whether to get into one big hedge fund and dump four board members in the future. diamond, morgan, solomon and more big banks responding on capitol hill, defending their response to the global pandemic is the inflation trade

unraveling already could big moves in commodities are signaling all-time highs? they may already be at an end. and your rbi, just 11 stocks, goldman sachs says hedge funds and mutual funds love right now, the list, the names just for you it's wednesday, may 26th, and this is "worldwide exchange. ♪ well, good morning, good afternoon or good evening, welcome from wherever world you may be watching. i'm brian sullivan, it's 5:00 a.m. that's early here's now the markets are setting up their day stock futures they are higher once again right now, could be another good day in the street of dreams, dow

up 87, and the dow and russell 2000 did break a streak on tuesday, a fairly new day today, volume was down, still, we are seeing futures high. overall, it has been a pretty rough month of may for technology nasdaq 100 on pace for its worst performance, to all the way back in october in the meantime, what's hold is new again. and the oldest commodity of all keeps moving higher. of course, that is gold at its highest level since january. gold higher up by eight bucks, 1902 and creeping back towards that $2,000 per ounce mark and of course, we've got to check the most volatile market of all recently. and that is the crypto trade and we are seeing a move higher right now. bitcoin up 8% to 40264 back above 40,000.

ethereum, up 13% at 2859 we are seeing gains across the board in most of the major trading coins and currencies on the digital side right now as always more of the markets and your money coming up in a couple of moments. right now, some of this morning's top stories including why tensions continue to grow between united states and china. christina partsinevelos is here. good morning like you said, the tension is growing igher with sleeping legislation aimed at boosting united states' economic competitiveness and pushing china on its human rights violations. on the assuring the engagement act or ego act, comes as the senate hedges to vote. tesla is said to be existing

radar with driver-assisted tech. saying its model made for united states and canada would instead feature a camera-only based system for adaptive cruise control and automatic lane keeping. radar sensors are relatively expensive and processing data takes significant computing power. tesla reportedly said the camera only is what is needs for technology and clairida saying, quote there there-l come a time in upcoming meetings we'll be at the point where we can begin to discuss scaling back the pace of asset purchases. the fed policy meeting is scheduled for june 15th and 16th brian, back to you

>> thank you, kristina that meeting indeed will be a big one, see you in a few minutes. >> thank you >> you're welcome. the show is called "worldwide exchange" so let's keep the world in focus because, of course, we focus on the united states markets a ton a lot, why not here we're the rest of the world, particularly europe is quietly booming in the egt markets they're not only higher right now, but in fact as their vaccination rates rise, so, too, have their markets and here is a list of major european nation stock markets that are at or near all-time highs. france, germany, spain, switzerland, denmark, austria, poland and even russia soer it's great to get a global view on all of this with mark haefele, chief officer at global health management. mark, good to have you

you work at a company that is based in switzerland, the european market in switzerland has quietly done exceptionally well do you believe, just maybe, the european markets are a better equity value than the u.s. right now? yes or no. >> yes, that americans need to diversify and follow this reflation trade as it moves around the world but the next stop is japan and we've gone overweight in japanese equities because we think they're going to be the next economy that really sees that reopening kick-start. >> still, because the nikkei 25 has also had a very strong last six to nine months >> well, look, all of these markets are strong, and when we talk to clients, i think we even have a little bit of a frustration that they're so pinned on where the average, without looking at what is

happening to the earnings growth now, the united states which we still like, i mean, its surprise to the upside on the earning group this quarter we think it's going to be a monster for growth that's brought down that nose bleed level that appears even six months >> it's really amazing you look at a couple of trillions on the balance sheets of the s&p 500 a couple of trillion dollars for consumer bank accounts around the world. global central banks still providing helicopter money to most of the world. i mean, i don't know if there's been a time in 25 years of doing this, mark, where i have said it's more difficult to be bearish simply because of the amount of cash sitting around the world. is that part of your thesis right now? or is it kind of a cherry on top? >> well, look, the elements of

support for this market that you described are absolutely part of our thesis but what i think is so interesting is that we really have not seen the private clients around the world make that rotation into the reflation trade. we still see a lot of investors who are maintaining their stay-at-home stuff maintaining their exposure to the mega cap tech stock. and what we're seeing is, you know, look a little bit beyond that rebalance that side of your portfolio, more in line with the sector aloelocations say in the s&p 500, and look below the large indices to the smaller caps to the energy names, to the materials names, to the financials that just haven't rebounded but should do well in this new environment >> yeah, and your note to clients i think late last night said more bluntly, the mega cap

tech trade may not be over, but there's not a lot of catalysts out there.% talk to us about why and also, how much you focus on crypto because it's in the first paragraph of your note, you talk about crypto and its relationship to the mega cap tech stocks. i imagine a couple years ago, mark, you never thought you'd be talk about bitcoin in your client equity newsletter how much does crypto and tech move together and matter together >> well, it's a great question first on the mega cap tech, i think that, you know, what we would say is find those long-term tech names that you want to stick around look for the small, maybe health tech or fintech. certainly we don't think inflation is going to run away we do think growth will have its day again. but the valuations are stretched

on the mega cap tech, the regulatory environment is not the most positive as it's been, that's why we're looking at other sectors. now, on crypt together, everything we do is on a portfolio asset allocation context, because we believe asset allocation is the most driver for clients what we're finding is it's actually not that great of a portfolio diversifier. both the tech and the crypto are a little more linked in the way they trade and then secondly, you know if you have an app that sells off -- if the stock market sold off 50% in a week because somebody tweeted, every policymaker in washington would be working to help the stock market get back on its feet. when that happens with crypto assets, washington and china are looking at do we need more regulation do we need to take further steps? and that's not a long-term

positive for the asset which means you have to have it such as small part of your portfolio, for most people, they really just can't spend the time on this portfolio allocation >> no, they can't. but it's an excellent point. regulators kind of struggling to catch up there mark says look around the world, reflation trade is strong. you are, mark, big on japan. we appreciate you coming on this morning. thank you very much. all right. we are just getting going, and when we come back, what's got the so-called meme stocks back in vogue and shares, yeah, of gamestop surging again plus, they all it indonesia's superapp, everything from food to ridhae iling and we speak to disrupter ceo gojek

next i'm evie's best camper badge. but even i'm not as memorable as eating turkey hill chocolate chip cookie dough creamy premium ice cream and chasing fireflies. don't worry about me. i'm fine. you can't beat turkey hill memories.

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all right, welcome back. it is time for your big money moves, three stock stories in the morning you need to hear about, stock number one, victim vimeo, dropping again. spun off from barry diller's ia on monday. and the stock has been under

pressure stock two, gamestop, it jumped up 16% since late march. rallied after shifting back into the old favorites gamestop up another 5% look at the year to date, that's up 1,000%. that's not a misprint. and stock number three zscaler popping after the company reported better than expected results and giving up guidance and produces smoke screen technologies, phishing, i.d. threat, digital threats and other threats. zscaler up 10% and on the day, call it the supercharged change trade. dana kelsey is here on which retailers are to make money at the mall that's ahead

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the day where everything goes right. or the one where nothing does. with comcast business you get the network that can deliver gig speeds to the most businesses and advanced cybersecurity to protect every device on it— all backed by a dedicated team, 24/7. every day in business is a big day. we'll keep you ready for what's next. comcast business powering possibilities. that is disrupter 50 time. our exclusive list the 50 companies in the world this one is a biggie, coming at number 18, indonesia-based g gojek, everything from ride hailing to movie tickets it's got a $10 billion

valuation. and high profile investor names like google and tencent and vees and joining us now is gojek's ceo kevin aluwi. kevin, welcome, congratulations, back on the disrupter list quite possibly not only the biggest ipo until indonesia, but in asia which i know you'll ultimately be. how have you grown, pivoted and adjusted during the pandemic because you went from basically a boring ride hailing company to the king of all apps in indonesia? >> thanks for having me, brian it's an honor for us to be on this list for the second time, actually, with such amazing companies, many of which we continue to look up to it reminds us how far we have to

go to get to where we really want to be look, from day one, gojek was actually not just a ride-hailing company. but we started at by looking at the motorcycle/taxi driver as a human being who could do many things to solve customer needs in gridlocked jakarta here in indonesia. that approach is what allowed us to be a pioneer in the states. most people in early days calling mostly ride hailing companies. we've been offering everything from ride-hailing, to food delivery, package delivery, grocery delivery, on our driver platform from day one. and we just kind of kicked off from there, when we started adding payments and financial services as you mentioned, the opening just now, movie tickets. we really wanted to have a very customer-centric and customer first view and considering all of the

challenges in indonesia and southeast asia, putting all of those together into one single app just made a lot of sense, given the region dynamics. >> do you have a model, kevin? you're obviously -- because of ride hailing, people say, oh, they're uber but you do this, they're kind of a door dash, oh, but do you that you're kind of a square. do you have a payment plan that you look at saying that's who we want to be or are you kind of the best parts of a few big names? >> well, we draw inspiration from all the world's big names but what we endeavor to be is gojek. we hope -- and we know actually today in many developing economies all around the world saying we want to be the gojek of "x" country where these countries are trying

to pull together various different services on to the same driver network and pull all kinds of different customers to the same single consumer app so, we hope to be an inspiration for other companies, even as we draw inspiration from the best of breed and all of those companies you mentioned and more we do see that the industry and the market in indonesia and the rest of southeast asia is unique and so having this multiservice approach all in one single platform is one that we really think addresses the needs of our consumers, our drivers and our merchants all across indonesia and southeast asia >> well, you just did the biggest deal in indonesia history buying coca pedia. it's almost a perfect match for a pr group go-to? what is go-to and what will

go-to be going to do >> let me clarify that, this is actual the two companies, the two companies have a long storied relationship dating back to 2015 already, the reason why we decided to come together, we recognized we could do so much more together. this is the first integrated platform in the world, i believe, where we have e-commerce in the form of tokopedia, ride-hailing in gojek, and financial services in go-k, which is named go-to financial. it's in the world that we believe can deliver great products for our drivers and

merchants. and we thought by coming together, we could really extend the impact and the reach of our combined businesses and products, so much more than we could as stand-alone companies >> well, whatever you're doing, it continues to work kevin aluwi, gojek, continues to fire your alumni fund-raisers are calling you, hey, why don't you contribute to the trojans, we miss you in pasadena good luck. >> thank you brian thanks for being here. >> as well as more disrupter ceos all day long on cnbc. right now, let's step outside the world of business and find out what is happening elsewhere including new hope for both cruise lovers and moon lovers i'm told phillip mena may be one

of those two, he's in new york with those headlines and more, phillip. >> more of the latter, brian, good morning the criminal probe of donald trump enters new territory prosecutors in new york have convened a grand jury to consider possible criminal charges against the former president, his company and its executives that's according to a report in "the washington post" citing two people familiar with developments this is a major step indicating that cyrus vance's investigation has reached an advanced stage and that manhattans democratic district attorney may have found evidence of a crime. president trump responded to the report with a lengthy statement calling the investigation, quote, a continuation of the greatest witch hunt in american history. the trump organization has denied any wrongdoing. meanwhile, there is new hope that the cruise line industry could soon reopen. in a facebook post, the ceo of

royal caribbean international says it has received approval from the cdc for one of its ships to begin simulated voyages in june. the cruise line "freedom of the seas" ship will be allowed to sail in u.s. waters with volunteer passengers on board. finally, if you get a chance this morning, you really should go out and look at the moon. there's quite a celestial show it's a superblood moon a full moon at its closest points to earth. it's eclipse will be available in america and in the pacific. brian, unfortunately for us, we're on the east coast, we don't get quite the show as our friends out west >> and we've got some weird video of running like a video game that has nothing to do with the moon we just interviewed kevin aluwi in jakarta is going to have a

spectacular view of not only a blood moon, but a super moon, i know, phillip mena, as a moon lover, you're very excited as i am >> all right, brian. inflation trade popping? how is that for a pivot, corn, wheat, could be winding down and if you've not already subscribed to our podcast, available on all the major podcast platforms. and time is running out, cnbc is auctioning off of an nft of mark haines the bottom, the auction ended today at 10:30 bids are rolling in coming in hot and heavy. if you want to check it out, go to mintable.app/cnbc

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which shows will you be getting into tonight? how 'bout all of them. for thnetflix.head. 'cause xfinity gets you really into your shows. when one burns for someone who does not feel the same. daphne, let's switch. from live tv to sports on the go. felix at the finish! you can even watch your dvr from anywhere. okay, that's just showing off. you get all of this on x1. so go on, get really into your shows. you need a breath mint. xfinity. it's a way better way to watch.

♪ getting back on track. stocks looking to regain some momentum, fresh uncertainty around the inflation trade futures are high a battle royale, a new hedge fund goes after what was once the world's largest company. and a year rbi knocks it out the park today 11 stocks atop goldman sachs,

hedge fund, vip, and neutral fund overweight list get your pens and pencils ready. it's may 26th, this is "worldwide exchange. well, welcome, or welcome back it exactly 5:30 a.m. eastern time here's how your money and investments look right now futures, they are looking pretty good on this wednesday morning dow futures up triple digits up more than 100. nasdaq futures up 0.4 of 1% as well a lot of green on that screen. now, outside of equities there are new signs that the real estate trade is starting to unravel just a bit you member this wall that we

brought to you from the rbi a few weeks ago. everything record highs, corn, semiconductors, silver, ships, copper, i can't do it again -- maybe we called the top. check out the action in corn futures in the past day, a sharp move lower new concerns there's too much corn out there to meet supplies. it's one thing, by the way, including yesterday's pullback, corn futures up 28% this year. and nearly doubled over the past year well, it's not just corn, of course, we're not going to make hay! ha soybean down 178% this week. you got -- what's that a lima bean a pea? sugar and salt down as well. orange juice down one half of 1% not huge moves but given all the talk about commodity-priced inflation. we thought you should know, some of the commodities, by the way,

you probably buy or buy stuff made out of at the store are starting to slow down a bit. there you go, corn, lima beans and sugar and juice. let's get to the morning headlines. including the battle over exxonmobil, christina partsinevelos is back with more. kristina >> it was soybeans, by the way exxon is facing off with one group, pressuring climate to address the growing fossil fuel industry the company shareholders will vote on engine number one to claim four seats on that board meanwhile, reports say that blackrock is throwing its support behind several of engine's picks to join the board. several ceos from some of america's biggest panks are heading to capitol hill. jp morning, jamie dimon, morgan stanley's james gorman, bank of

america, brian moya hand, goldman sachs' david sullivan will face the house committee tomorrow and efforts to fight systemic racism republicans are also expected to grill the ceos on claims of, quote, woke capitalism over corporate america's focus on progressive social causes. and uber ceo says he's not happy with how long it's taking for drivers to pick up riders or the price that customers are being charged. speaking yesterday, he said the demand for rides has outpaced the supply of drivers as more people start to travel again the situation is getting better as more drivers are getting vaccinated uber announced they would spend $250 million on a onetime stimulus aimed at getting drivers back on the roads.

brian, i tried to go to brooklyn to west chelsey saturday night, $100 i took the subway instead. >> mta thanks you because their budget is in shambles. 100 bucks -- i guess there's no more taxis. >> yeah, i stumbled, lower east side. >> raised your hand? >> yeah, it didn't work. a lot of people doing the same >> the signs of the city coming back in a weird way it's good news, i guess. see you in a few minutes let's talk, earnings absolutely destroyed expectations so far this quarter. and there's still a number of companies that have yet to report their numbers joining us for a look at the sectors winners and losers and we're spending and making money ahead is dana tellcy ceo chief adviser at telcey group.

you know, dandana, given that t world shut down in mid-march, it's a d minus to a c minus. i'm not sure anyone would call it good. the question is where is the money going to be spent going forward? what are the trends that you see from your 30,000-foot perch? >> exactly what you said, brian, i agree, it's not exactly compared to last year, but everyone has to compare it to 2019 what's interesting we're seeing companies come in at or above 2019 level what i see coming in, i see expectations of pent-up demand i'm seeing spending power being super significant. stimulus and tax refunds and the tax care fund coming putting money in consumers' pockets. 2021, with more vaccinations, gatherings are coming.

luggage sales, apparel, denim, footwear that's coming back dresses and going out apparel doing well and luxury goods maintaining its growth rate, given that their high-end consumer has maintained spending power and guess what, home is continuing to do well. digital is continuing to grow even as stores reopen. so there's a healthy demand out there. travel is part of it, experience is part of it. and people haven't seen each other in over a year, they want to look good when they do. don't forget make-up, too. >> yeah, by the way, dana, are things that are harder to buy online let's be clear, returning stuff stinks i know they're trying to make it easier, i get it but it's still a process you got to recycle you got to try your make-up. whatever it might be how much is foot traffic coming

back >> it's coming back more in suburbs than cities. the south is doing better than the north. but the north is improving foot traffic is still down, down versus last year, even versus two years ago. cities are definitely worse. you just had the segment about kristina getting a taxi. look at manhattan. it's improving, but it's not back to where it was we need tourists we need people back in offices in order to get that foot traffic back but overall, in the closed malls it's doing very well outdoor centers and strip centers, it's about grocery anchors where basically people are doing their grocery shopping, while also doing other shopping take a look at the t.j. maxxes world, in strip centers and outdoor centers, it's improving.

you're seeing it in outlets, too. >> what's your best bet, dana? >> i bet urban outfitters doing really well. guess is doing very well and back to school >> isn't that nice to hear, back to school for the kids it's actually going to happen. even in l.a., maybe kids will be back to school in the fall absolutely dana, we appreciate you coming on, thank you. >> thank you speaking of deckers, on deck, call it shrimp sticker shock. why the surprise of nearly all seafood has soared have you bought crab lately by the way? and where the it's likely going. dow futures up 30. nasdaq up agn.ai a lot of green and we're back right after this.

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with every vaccine, cvs is working to bring you one step closer to a better tomorrow. welcome back just another reminder to get on the mark haines market call on the bidding, ends at 10:30 eastern time you want to bid. i know you do, go to min mintable.app/cnbc. and to a stock including what dana telsey just talked about a few minutes ago.

to brothers, continues to boom stock two, urban outfitters, that's the one that dana said she loved ted end of the segment. h stock's higher stock three, another retailer but going in the other direction. nordstrom, sales dropping. loaded up on too much inventory, foot traffic down. stock down 6%. as soon as that turns around, everything, even new jersey reopens this weekend well, we recently talked about you ho your weekend barbecue is going to cost you more because things like the price of pork and steak -- who is having lamb at a barbecue? anyway, all meat prices are up if you're aiming to go with seafood, that's not going to happen the senior analyst for berner

berry who specializing on the meat industry in one of my favorite towns, toms river country. angel, thank you for doing this. literally, i was at the grocery store the other day, my wife said let's make crab cakes i said that sounds great i picked up a one-pound can of crab it was $49 put the crab back down, walked to the hot dog aisle what the heck is goes on with the price of seafood >> well, as what everybody would say is a good question but it's very simple in many ways it would be -- it would come down to fundamentals, you know, supply and demand. like that can of crab meat, it's a combination of both a strong demand there was a strong demand in retail for all last year but there's also, you know,

lower imports. we have been bringing in less product out of indonesia which is the largest part of that crab meat, that refrigerated canned crab so far this year, fishing has also been lower. of course, that drives the price of u.s. importers that are buying from somewhere else into the u.s. and then that obviously did pass along to the consumer. >> yeah. is that really it? i mean, crab, maybe shrimp or salmon, just the smaller part, just imports have slowed down as well i did not realize until researching for this interview, how much we rely on imports for seafood. i mean, is the american fishing industry all but over? >> no, no, it depends -- it depends really on the species, right? so, just to give you an example. with shrimp, it's about 80%, or probably more, all the sliver that you consume is imported

salmon, most of the salmon that you're bringing is farmed either from chile or norway and then you have your wild fisheries in alaska and the pacific northwest. but that's a separate -- right, that's a separate fishery. no, the fishing industry in the u.s. is well and good, essentially. it's a pretty remarkable and sustainable fisheries as well. it depends on the species as well but i think these prices -- these rise in prices were recently through the food service demand for recovery over the pasteight weeks which comes as a demand shock and supply you have both ends coming in very strong. >> yeah, i mean, you go to the a-1 seafood center there on route 37 heading into seaside park in toms river, i mean, it

is a little bit of a sticker shock. is there any sign, angel, that things are going to turn down or are prices likely to keep going higher what do you see in the future? >> so, we focus on wholesale prices, right? these are our prices that are trading, you know, when you're trading a low, you're trading half a load, wholesale distributors, right now, crab, king crab at record highs right now. shrimp is not at record highs but it's rising really rapidly now, salmon, chilean salmon hit record highs yesterday for now, at least, on shrimp, we still see more pressure going up salmon is probably going to sit somewhere where we are right now. but then again, you never know, high prices take care of high prices, but with commodities,

some of these prices can reach new highs, you know. yeah, it all depends for now, it's pretty scary. >> it really is. i mean, the prices are pretty remarkable as well maybe we'll get out with some of these fishermen coming out of ports there, angel rubio from urnor barry, check out the great sushi rolls at chino's in toms river. it's the morning bi, 11 stocks that make two different goldman sachs lists. we'll name names if you've not subscribed to the podcast platforms, and a reminder that may is asian american pacific islander month. here's our college and friend ylan mui

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time for your "morning rbi." this one a very special and select list just for you and goldman sachs clients, of course, because it's their list. and it's a pretty rare group of stocks just 11 names that are on goldman sachs' hedge fund vip list and being overweight at mutual funds list. here's how it works, goldman scours 800 hedge funds and 600

mutual funds that overlap between the two groups there aren't many, as we said, just 11. but here are the names falling in both of those baskets, they don't rank them, they put them in order adobe, bank of america, citigroup, square, schwab, united, visa and fiserv and wells fargo. rarefied air you say, hmm, a lot of financials that's not accident. number one, the prospect of higher rates, it's more attractive goldmanalso notes many funds are able to overweight some funds based on the proxy, whatever it is so they may have an artificial overweight whatever the reason, it means there's a lot of interest and ownership in those names

and it's not something that is well publicized, except of course right now on "worldwide exchange" on the rbi, because who else gets this random but interesting. 11 names you need to pay attention to well, let's stick with that theme and bring in oppenheimer asset management chief investment strategist john stoltz john, what do you think? are you guys as hot on the big banks as mutual and hedge funds seem to be >> well, we're nicely diversified across the s&p sectors, i don't know if we'll be as overweight as more aggressive players will be but we've been looking for banks to perform better. they certainly have this year, one of the best performing sector for the s&p 500 but we'd be very careful. we're not traders.

we're intermediate to longer term investors so we might not be as aggressive as if we were trading. >> do you think the interest rate environment, which, by the way, i mean, for all of the talk of inflation, the bond markets does something for a month, in fact, if anything, yields have gone down. is the interest rate environment favorable for certain equities and unfavorable for others or can big tech just continue to roll >> well, i think the problem for big tech and investors since last september have been diversifying into the value category so value is outperforming growth and that's going to hit tech but we can't help but think in this kind of environment, the last i looked, the ten-year treasury was around 1.57% this morning. with that and around that, we have to think it's good for tech but, frankly, brian, we're looking for tech and consumer

discretionary to begin to perform much better after we get through the second quarter >> much better, why is that? don't we buy the rumor, sell the actual sales >> well what you have to think here, useful got the economy that's improving you've had materials, financials, real estate bid fairly heavily, technology pretty much ignored this year. and we can't help but think the reality is technology is deeply embedded in the lives of both consumers, as well as business of course, with that, as the reopening happens, everybody is on an upgrade cycle. it doesn't matter if you're a business or consumer we move ahead. we don't think technology has plateaued, just like it helped us in the crisis, it will help us coming out of the crisis. >> if you bought stocks when

things were worse, you made some money. we just had a guest on beginning of the show talking about the world. we talked about how france, germany, spain, they're record highs. we don't talk about it much. but their markets are quietly soaring, they're probably three to six months behind us in terms of vaccinations. is it a better opportunity to buy stocks in asia and europe given where they are kind of behind us in the reopen? >> you can't help but think so, brian. we've been overweight in the u.s., meaningful exposure to developed and emerging markets internationally. the developed international markets happen to be very interesting because they are a lot of value plays and a lot of the plays -- a lot japan, europe, are dead indicated exporters. and as the rest of the world comes back, they're going to do a lot of business. so, we continue to like europe we like small caps and large caps in the developed

international markets at this time >> john stoltzfus of oppenheimer. always great to have you on. have a good day, john. >> you, too, brian i'm going to throw this out there, given the name of our show, "worldwide exchange," i propose a three-week around the world, let's examine at least from the ground tour and i know just the person to do it i'm ready, cnbc. let's go well, that does it for us here on "worldwide exchange." we'll see you tomorrow morning, same place "squawk box" and the gang picking it up as dow futures up triple digits, have a great day, wherever in the world you may be

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♪ good morning

a group of gop senators planning now a counteroffer for infrastructure that starts with a "t." yeah we'll talk about a potential compromise deal. also starting with "t," tesla announcing a major change to its self-driving car program. details straight ahead and cryptocurrency prices surging despite a further crackdown on miners in china it's wednesday, may 26th, 2021 and "squawk box" begins right now. ♪ good morning, everybody. welcome to "squawk box" here on cnbc i'm becky quick along with joe kernen and andrew ross sorkin. and this morning, the futures are picking up some of the ground that they lost yesterday. yesterday was a down day not by a lot but the dow was do