are the color cartridges in your printer ready for another school year? what's cyan mean? it means "cyan-ora" honor roll. the epson ecotank. no more cartridges. it comes with an incredible amount of ink. just fill and chill. it is 5 a.m. in new york your top five at 5 sticking to his guns fed chair jay powell not ready to sound the alarm over surging prices just yet. a bouncy ride for bitcoin going negative on the year only for a moment. we'll talk the latest next. tech under fire. the sector getting hit from all sides as lawmakers weigh new bills designed to hit them where it hurts antitrust sentiment not doing much to hurt a big tech

name it just joined apple in the $2 billion club sin city rebound $4 billion rebound top trending story june 23rd. this is "worldwide exchange. good morning good afternoon or good evening welcome from wherever in the world you may be watching. i'm brian sullivan thanks once again for joining us here's the question. will it be three in a row for the markets and maybe your money after last week's scare which i tweeted out i thought may have been caused by quadruple witching on friday as well as all of the fed talk. they're higher dow up, nasdaq basically flat and slightly in the green. still they are higher.

the s&p 500 continues to power higher it is now up 7% this quarter if you're not paying attention, the xle paying attention all the way back to the creation of 44%. wow. big tech also a big part of this google, microsoft, adobe, they're all sitting at record highs. we'll get much more on those moves in a minute. one name not getting a lot of love this year is apple. obviously for years high flying, now basically up 1%. flat year to date. on pace for theweakest beginning of a year all the way back to 2016 when it lost more than 9%. still ime, june is not over yet. the clock is kind of running down we're watching you now to a few of your key headlines this wednesday morning. including the very latest on the battle over potential billion

dollar alzheimer's drug. we have more from christina. >> good morning, brian u.s. agencies saying they've seized 40 websites from iran blocked sites remaps included by government-run tv. the move comes as the biden administration is in the midst of new negotiations over the nuclear program. one of the largest labor unions will be voting to organize amazon's workers the brotherhood of teamsters is gathering for the annual convention and will vote on a resolution that aims to make supporting amazon workers and achieving a union contract a key priority it's called the amazon project

new details on biogen's alzheimer's drug it came over objections where they say it fell short they said the evidence while inconclusive was strong enough to let doctors and patients decide whether to take it. brian, back to you. >> the stock up 1.5% we'll see you back here in a few minutes. back to your money futures, they are higher macro markets look to make more and more new highs the moves and the reasons are many which we'll get to in a moment certainly the fed is all a part of this.

the fed chair making comments yesterday that he sees actually cooling inflation ahead. >> i will say that these effects have been larger than we expect and they may turn out to be more persistent than we expected. the incoming data are very much consistent with the view that these are factors that will weigh in over time and inflation will then move down towards our goals. >> other than that, the fed is making headlines it caused many people to raise an eyebrow let's talk about the markets joining us is brian leven. good to have you back on yesterday was there anything the fed chairman that said that caused you to change your macro bullish view longer term >> yeah, there wasn't anything that the fed chair said that

caused us to change our macro view the reality is we're in a good macro backdrop there are inflationary pressures that will hasten tightening. the fed has been transparent about allowing this to play out over time. the fed believes as i do you have a moment in time in which there's a lot of demand hitting the market in which businesses have spent time cutting workers and cutting inventory and now we have to rebuild. as your own data shows, coming off of recessions the market allows for greater valuation some say the market is over valued but coming out of slowdowns, your data suggests that the market may give higher valuations a pass.

>> well, it tends to happen obviously the market moves first. you think of a price earnings ratio the denominator takes time so the market forecasts the better economic backdrop and better earnings environment a year ahead and you start to wait to see that the economy earnings deliver. certainly it's started to. it's a very good economic backdrop they have been running largely lean you should see a very good earnings environment what we have found elevated valuations and as companies start to grow into those multiples, you can see very good equity returns even as multiples are flat or come down in years two or three of the market cycle. i advise people not to be overly concerned about valuations again, companies tend to start growing into those multiples by years two or three of a market

cycle. >> there's so much cash still sitting on the sidelines kind of amazing despite negative real returns how much money have gone into bonds in the last decade or so we like to sound smart but they go up when there's more buying pressure than selling pressure you think a lot of that cash, $20 trillion by some accounts, may end up going into equities >> yeah. cash going into goods. we shift away from goods allowing to rebuild into inventories. we allocate that money into markets. as we know, there's over a trillion money market strategies into three trillion that's not going to get us towards our investing goals in most instances that money is likely to find its way into the equity markets

which is surprising given the extent of the gains. when i get concerned is when investors are overly euphoric. >> good runs but still not overly euphoric. we'll see if that goes into boats or stocks. brian leavitt, always a pleasure to have you on, my friend. have a great day >> thank you >> you're welcome. we have a lot to do. when we come back, big tech under fire congress continues to crackdown can major regulation plus, new data from morgan stanley on covid-19, the variants and just how protected the population is in the real world. these are numbers you've got to hear and they are good news. trust us.

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welcome back we do it every day, your big money movers three key stock stories of the morning. stock number one, a biggie in fact, getting bigger. microsoft is joining an

exclusive club the second publicly traded u.s. club to reach a market cap of $2 trillion microsoft briefly hitting that threshold yesterday before sliding back at close at the rate of 1.99 trillion. the mile steen comes two years after the company crossed the 1 trillion market cap level. stock number two, amazon sources say they will review the attempt to buy mgm and stock number three, comcast, our parent company, and some good news. several reports confirming our streaming service, peacock, will become available on amazon fire tv devices again today comcast says peacock 42 million signers. still on deck, aaa releasing its list of the most popular destinations for the fourth of

july. and the top two? well, they have one big mountain in common. maybe not in the mountain way you think. everybody keeps gettening oa plane. 2 million. almost all of these people are flying domestically. once international travel opens back up, certainly not hard to see we could break all-time records. get a lot more on all of this and more in your top trending stories ahead. dow futures up6. 5 5:14 in the morning and we're back right after this.

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to take workflows further, trust adobe on it orchestration by cdw. welcome back to "worldwide exchange." you better hoard the ranch dressing or honey mustard because there's been a massive pop in chicken mcnugget sales and the top ten cities that americans all want to travel to over the fourth of july, maybe vegas made the list. let's find out christina is here with the numbers and more today's trending stories what is your nugget dipping sauce of choice, christina >> ranch for their chicken nuggets? i'm not going to continue to comment on that. i don't eat meat. >> did you make a gross face >> i did it was off camera and then it showed on camera yeah ranch? >> i saw it.

ranch? >> i get it. you're from montreal >> yes yes. we don't have that in canada mcdonald's -- >> you dip your mcnuggets in burres. >> in wine. >> we have wine at a much younger age so we appreciate it more mcdonald's philippines said it sold almost 3.5 million nuggets on the bts meal in honor of the korean pop music maker that's 1,000% higher than the normal daily mcnugget meal it's 10 piece chicken nuggets, french fries, coke, and two dips the brown and purple packaging is considered a collectible by the fans the fans are known as the army by the way resorts world las vegas opens this week. it's the first megacasino, seven swimming pools, a nightclub and

a shopping mall. the $4.3 billion venue hosts three hotels under its roof with a total of 3500 rooms. aaa releasing the list of the most popular nations for july 4th travel with 47 million americans expecting to set off over the week. topping the list, orlando, florida. the other disney city, anaheim which is brian's joke for the mountains. denver, las vegas, seattle new york came in at number 7, boston at 9. maui rounded out the top 10. what do you think, brian >> so do you know the mountain pun that i was referring to? >> disney. the mountain in the back yeah >> what's the mountain called? >> sorry. >> not earth mountain. >> space mountain! >> correct >> yeah, i knew that.

>> if you're a disney stockholder, that list is very good news. >> oh, yeah. the stock is doing very well. >> you know what they love i'm told -- >> ranch on their chicken nuggets. >> who doesn't this is a twitter poll that is ready to happen. i don't want to -- i want to make sure our viewers to the north. >> you just told everybody that you think montreal is a great city >> i did i thought i said i really like ranch dressing in french got to work on that. >> a comedian on the side, aren't you >> not sure on the side. just when you get two hours of sleep a night, this is what happens. christine fla, we'll see you in un momento let's get a check on the

other top headlines, i think i scared her, including a stunning finish to last night's nba game. phillip mena is with us. before we get to the suns finish if i bought you mcnuggets, a, would you get a dipping sauce? b, if so, what kind? >> i'm a sweet and sour sort of dude, man. >> okay. i see that. >> sweet and sour all the way. >> it's another choice, why not. barbecue i guess, too, you can't go wrong with that. >> honey mustard >> it depends on where it's from it gets tricky with the honey mustard. some have more hone ty than mustard. we can go on and on with that. all right. good morning to everyone here. let's talk about the democrats they are vowing to fight on after republicans blocked a sweeping election reform bill that would expand access to the ballot box now that vote was straight down party lines.

50 democratic votes in favor of advancing the for the people act. 50 nays from the gop president biden called it, quote, suppression of a bill to end voter suppression adding he will have more to say about this next week. the dust is still settling after primary day in the new york city mayoral campaign the city's first ever ranked choice election that lets voters select and rank as many as 5 candidates brooklyn borough president eric adams has the lead with roughly 31% of the vote. andrew yang was the first to drop out conceding after winning about 11% of the vote. and here's the game we were talking about. a last-second shot for the ages in the nba playoffs. paul george thought he had the dagger to even up the series late in the fourth but this alley-oop from deandre aiden, he threw it down in the final second just an amazing play thought it was goal tending. turns out it's not

the suns are now up 2-0 in the series 104-103. paul george had an opportunity at the end he did not show. he missed two free throws that could have sealed it for the clippers >> yeah, that's tough there. listen, hey, in other news, our rockets, they got the second pick in the nba draft behind detroit. maybe things are looking up in h town. >> something to look forward to. >> sweet and sour mena, thank you very much, my friend see you soon. >> thank you, buddy. >> all right straight ahead, return to the office not if you're not vaccinated the big move that one major wall street firm is making that is getting a lot of attention we're back right after this. w tus 45. (it's a skirt... and shorts) the world is going hybrid. so, why not your cloud? a hybrid cloud with ibm helps bring all your clouds together.

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big tech beloved once again. a few big stocks helping surge the markets higher futures are up all while the cryptos continue to roll craps speaking of big tech, three of the sectors biggest names speaking out against a series of antitrust bills set for debate today. ylan mui is here to break down the information that could break up the companies. breaking through the noise on covid vaccines and variants your morning rbi lays out the numbers. top-ranked analyst matthew harrison makes sense of it all

the numbers you want to hear it is wednesday, june 23rd and this is "worldwide exchange. welcome back and good, what is it, good wednesday morning. 5:26 on the east coast set up your market day this run down we're hitting stocks, we're hitting crypto and we're hitting foil stock futures coming off another good day for the major averages. the nasdaq and the nasdaq 100 are at record highs once again that's right in fact, yesterday eight new names hitting new highs, including some names you know. google, aka alphabet microsoft, adobe and five others in the drama known as crypto, bitcoin has been very, very choppy lately. another bonkers day on tuesday our friends at the spoke

investment group note yesterday, just yesterday bitcoin had a 10% drop followed by 10% bounce. it is now up 1632. can you imagine if stocks fell 10%, came back 10% i don't mean meme stocks, like the s&p 500. pretty stunning volatility for bitcoin. let's check the price of oil right now. we are one week away from the big opec meeting next thursday wti crude continues to inch higher at 73.46 a barrel. there is something to watch. a little wbi wonky but interesting. that is the huge spread and what we're showing you is this. it is the spread between oil contracts three months out and four months out and we're seeing that huge pop between the two. you're thinking, there's a lot of squiggly lines. what does that mean?

well, what that means in the oil contract is some investors are making or thinking we're going to have ip ven tore ris that could tighten a lot. may be making big bets on that as well as, dare i say, higher prices again, oil already up. big bets in oil contracts signaling tighter inventories and maybe higher prices ahead. that opec meeting kicking off on july 1st a lot more to do there right now back to some of this morning's other top stories including sure to be controversial, one big bank taking new steps around vaccinations, mandated vaccinations for its workers christina is back with the details on this. you know this story is going to get a lot of attention. >> of course morgan stanley is the company that's told staff workers that are not vaccinated will be barred from returning to its new york metropolitan area offices the rule though which takes effect july 12th also applied t

clients. morgan stanley said workers will be required to certify their vaccination status by july 1st employees not fully vaccinated will have to continue working remotely the move follows similar actions by other financial giants. since we're talking about vaccines, social media app next door is teaming up with moderna and albertsons to boost vaccination rates. the ceo of the app which offers a digital message board telling jim cramer on "mad money" the company is rolling out a vaccine map feature. alphabet set to face fresh antitrust action it could come as early as next week it's focused on complaints from app developers brian? >> yeah, big name there and by

the way, a name that follows into our next story as well. christina, thank you very much. why don't we stay there. on antitrust action potentially against big tech google, the afore mentioned, amazon and facebook are speaking out against a series of six new bills that could ultimately try to break up these companies. the house judiciary committee beginning to set the debate on today. apple and microsoft which would also be targeted by the measures have not released statements ylan mui with more on what exactly is in these bills and who they might be targeting. ylan, good morning >> reporter: good morning, brian. you're right congress is coming after big tech with a slew of bills that taken together could topple america's tech titan the house judiciary committee will consider them one by one. the target is clear. companies with a market cap of $600 billion or more and 50 million u.s. users or that serve at least 100,000 businesses every month. only a handful of companies

actually meet all those criteria and they are apple, microsoft, amazon, alphabet and facebook. they are fighting back we did reach out to the companies for comment. we heard back from most of them as well as from the other industry groups. there are some similarities in their responses. though we are still waiting on apple and microsoft, however, what we can tell you is that the companies say that popular services like google maps and amazon basics could be threatened small businesses could become collateral damage. facebook even warned about national security implications from competitors like tiktok but the whole reason that lawmakers spread this into six different bills was to diffuse the opposition data portability may be a bigger piece than amazon. the piecemeal approach gives lawmakers more skin in the game. each bill has a democrat and republican co-sponsor. representative david cicilline

says america is in a monopoly position to build a stronger online economy. >> ylan, i'm thinking about schoolhouse rock i'm just a bill, trying to remember the bill, he didn't get it, he got it, he was happy. what happens after today do they go to the floor? where does the senate stand? can you tell us how some in the senate may be thinking about this >> yeah. so the first thing that has to happen is the bills need to get out of committee we're expecting debate to last for several hours. you know, we'll see if all six of these actually do make it out of committee and then they would go to the house floor. still unclear whether or not they would get a vote on the floor. even if they did make it there to your point, brian, takes two chambers of congress to pass a bill and right now there is no companion legislation in the senate even though this has been a 16-month process in the house,

ceos are called before congress. unclear if this is going to go anywhere or get passed any time soon. >> now very quickly, ylan, if i were to, say, throw up a list of the top lobbying money in washington, d.c., would any of the big tech companies names potentially appear me thinks >> yeah. absolutely the big tech industry -- tech industry overall, not just big tech, they have been big spenders in washington in recent years. all of these companies have offices in d.c. employing not just their own lobbyists but also contracting with other k street firms as well in order to fight these types of efforts the hope amongst democrats and amongst republicans, too, is that by going after each different bill targeting a slightly different piece of the pie, some part of it can survive. the whole thing wouldn't get taken down by the industry overall. >> yeah.

i mean, the lobbyists, lobbyists here, straight ahead with billions, maybe trillions on the line ylan mui, thank you very much. in very different amazon news, their big prime days event just wrapping up according to adobe analytics the first day drew in the most monday surpassing 5.6 billion. here's the thing that i guess is random prime day wasn't just good for amazon adobe actually says many other retailers got a boost from amazon's prime day to find out why and talk more about it, charlie o'shea, vp and senior credit officer for moody's. why is that, charlie people looking for something on amazon, realizing they don't have it, they want it, they go somewhere else and get it? >> i think that's naturally an issue at this point. amazon could be considered to be a victim of its own success. they built this online autobahn

and anybody can get on it now. with the pandemic, we've seen consumers, you know, testing a lot of different retailers on capability one of the things that we noticed, we thought this would happen for a long time, it's compelling for consumers if they want something quickly one of the issues for amazon, the sheer volume has become a detriment because the shipping delays start to hit and brick and mortar doesn't have to worry about that so much because they can offer buy online pickup options for the consumer if they want it faster >> it truly is amazing amazon, their brands, they don't have the name brands they had. you're looking for big name brands, a lot of times they're not available on amazon, sold to a third party shipper. to your point, charlie, there

are delays overall, how do you think prime day has stacked up for amazon? does it move the needle? you would hate this term, amazon has become almost a utility for shopping. >> well, i think that there's a lot to be said there i think is it important? yeah, it absolutely is one of the key advantages for amazon is that steady prime shopper days the other key event for amazon is whenever you're going to do a search, let's be practical, you're going to start at the amazon site. maybe five, ten years ago you stopped at the amazon site, that was it recently, not so recently, we've seen consumers testing amazon. going to walmart, best buy, target, wherever you think depending what you're buying and testing price, testing speed of delivery and in amazon's case, what we saw again during the pandemic was a lot of delays

a lot of out of stocks intentionally rationing that they did early on in the pandemic consumers tried out something else and maybe liked it. maybe now they're not starting on the amazon site like they used to. maybe they're starting on walmart, costco, target, best buy. that's an issue for amazon that said, prime day, whether they make or lose money really doesn't matter it's a promotional event it gets a lot of buzz. i think that's more important than the actual, you know, dollars and cents that come out of this. >> yeah. and a lot of browsers now putting in -- embedded in through honey, these other purchases, discounts, coupons. getting the browser to lead you in other directions as well. could be a bigger fight for amazon ahead charlie o'shea, great points. >> thanks. coming up on wex, matthew harrison standing by to separate the fact from the fiction.

concern on vaccine slowdowns, variants and more. as we head to break, some of your other top stories including w warby parker filing confidentially for an ipo. the final round of the u.s. open golf tournament turning out to be a big hit averaged nearly 6 million viewers. wow. most viewed golf event since 2014 robinhood and venmo becoming one of the most valuable technology startups in the startup round. viva republica lands it a $7 billion valuation. you go, toss dow futures up 51. bitcoin up 100 we're back after ts.hi

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pain? yeah. here. aspercreme with max-strength* lidocaine. works fast and lasts. keep it. you're gonna need it. kick pain in the aspercreme today's rbi has to do with vaccines and so-called break through cases. people fully vaccinated and still contract covid you no doubt have heard about it they tend to get headlines when there is a cluster or bad outcome. one headline said break through infections, should you be worried? it's all scary stuff this may help. more data that indicates how

very rare break through cases are and even rarer how much we have negative outcomes like hospitalizations or worse. as of the last study from 46 states, we know that only about .1% of covid cases are from those who have been vaccinated, i.e.,, the vaccines appear about 99.9% effective data is even more impressive as of june 14th there have been 3,808 break-through infections that have led to hospitalizations or fatalities while we want everyone to stay safe and healthy, that number, 3,808 is, ready for this, just .0026% of all vaccinated people not .26%, .0026% is that zero risk? no, but it's not far off and that's even with the so-called

delta variant, which is spreading wildly so if you have been vaccinated, for now. the numbers, the map is on your side you want scary headlines, it always does come back to science and simple math. let's talk more now about that, vaccinations, break-through cases, flare-ups, et cetera, not just in the u.s. and around the world as well bring in the gentleman whose numbers i just cited, matthew harrison, head of biotech industry working tirelessly for a year now. i used your data and the cdc data because i felt that it was important to note while the headlines are scary, right now it does appear that with at least maybe mnra vaccines, that break through very negative outcomes are very rare, zplekt. >> yeah, it does seem vaccines are performing way it has, mrna

vaccines are said to be 80% north and 90% coming from the delta variant. there are concerning numbers out of the u.k cases and hospital days are on the rise we often compare the u.s. and u.k. for many reasons. do you think there's more hospitalizations there in some cases because their vaccines are less effective or are we going to follow the path higher? >> if you look at the data, the rising numbers are not coming from vaccinated individuals, it's coming from individuals not vaccinated even though there is a high rate of vaccination in the u.k. like

the u.s., there is a portion of the population that isn't vaccinated and the delta variant appears to have highly infectious qualities so that leads to more infections in the non-vaccinated population. then i think maybe a second piece which is important to note is the u.k. prioritized first doses over both doses and so they may have a proportion of the population that has only had first doses of their vaccine and it looks like the protection against the delta variant there, at least for symptomatic infections, is somewhat modest, probably below 50%. >> okay. because we have looked at the u.k. in some cases because they were more vaccinated as a percentage of the population than us. there are some key differences it sounds like between them and us mat matthew, can you also comment on this big slowdown in vaccinations in the united states but also thankfully a

huge drop in cases about to go below 10,000 if we haven't already on a seven-day moving average >> yeah. i would say you want more people vaccinated for a variety of reasons. we'll have to see what happens as the delta variant becomes proportionate. it's between 10 and 20% depending on the data you look at the thing i'm watching is is there going to be a difference in outbreak patterns in states highly vaccinated in new york which has greater than 70% vaccination and a state like louisiana and mississippi with 35% vaccinated we'll have to see what happens i would say more broadly, right, lower levels of vaccination still leave us open to outbreaks, especially in the unvaccinated group it would be great if we could get that number higher. >> is there any indication in your early data, matthew, not to put you on the spot, about tracking that -- the

relationship between the tats? i know this is a very unpopular thing to say if you go back and run the data as i have, you have, everybody else for the last year and a half on cases and mortalities, the difference between the states is actually not that great depending on any metric. are you seeing any variance, bad word i guess, between the different states and vaccination rates? >> i don't think we have enough data to say anything specific right now. i think what we're seeing, you know, you may see a slight uptick in some of the lower vaccinated states, but it's not so large right now that you can definitely assign it to vaccination differences. >> okay. now we look around the world, matthew. latin america, parts of continental africa they are seeing, as you've written in your report yesterday, always a must-read, excellent stuff, a concerning

rise are we seeing any indication of a global vaccination rollout india looks better, but there's still billions of people that have not been vaccinated. >> yeah. it's still going to take time. obviously more doses are being made covax is getting more doses. it will take well into 2022 to get more doses into people that's important while you have a lot of replication velocity and a lot of outbreak in other areas, you potentially see more mutations which could be concerning. it's not a foregone conclusion but that's why it's important outside of the public health and humanitarian issues, that's why it's important globally to be able to vaccinate. >> yeah. certainly is for a variety of reasons.

humanitarian perspective, economic perspective global perspective appreciate your perspective. must-read. you've been doing great work thank you for coming on. appreciate it. >> thank you very much. >> you're welcome. on deck, fed chair powell downplaying the inflation threat yet again. what does she think about that she'll tell you and a couple of fed stocks >> follow our podcast. check it out june is pride month. we're spotlighting contributors as well. here is cnbc's -- >> my advice to lbgtq people, always be yourself never be ashamed of how you feel

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welcome back let's get back to the markets. fed chair jay powell downplaying the market for 1970s share inflation. the next guest says that's providing an opportunity for you. victoria green is at g squared private wealth what do you mean by that where is the opportunity here? >> i think he's saying a lot of the inflation is going to be transitory a lot of people saying inflation is the boogie man. prices high 1970s, 1980s readouts we don't think it's going to be that way many people pointing to the semiconductor shortages now.

honestly, in april they produced 100 billion units versus 73 billion and they're increasing supply to meet demand. some of the shortage is on transitory some people upgrading phones and we've bought multiple electronics. you have ramped up supply. a little we're looking at the lumber market as a hit for that. lumber had the huge spike and has come back down to earth. sawmills ramped up supply. as demand naturally curtailed itself on the high prices. seeing inflation as more transitory means it might not be this horrible event that everybody is anticipating it could be >> you know what hasn't been horrible energy in fact, the opposite thanks to our crack data team here,

victoria, i can give you this stat and make it sound like it's my own the energy sector has its best start to a year ever it's up 44% in 201 -- 2021 i know you like chevron. you've owned it for some time. how much does this run have in the proverbial tank? >> $100 oil, it's coming back, baby shell came out and got on board with a lot of analysts, traders, they're saying $100 might be coming it's a very concerning supply. chevron is a great example they're 35% less than 2019 you're seeing all of the supply being constrained not just by opec plus but reduction in capital expenditures you're going to see this once

demand perks up. i don't know if you've been to a national park, they're all packed everybody is back on the road and traveling. you're seeing demand ramp up quickly. supply doesn't ramp up as fast i think you'll see energy in a sweet spot as well as energy does well in an inflationary environment. >> victoria, last week it took an hour and a half to go from houston airport in a rental car to downtown. the 610, i could is have walked faster traffic is out of control. it's the year of the traffic jam. free cash flows up quickly any other oil and gas names you like besides chevron or is that really the pick? >> no, there are some others the emp space like diamondback and devon, some of those are great. we want to invest with quality

companies. we're awaiting reports today expected to be a big draw on the u.s. stockpile again which, again, you're seeing oil prices rise this morning. certainly look around the market exxon has done well. c con knack could he has done well bullish on u.s. oil. >> big names there victoria green, the year of the traffic jam. victoria, we appreciate your insights as always thank you very much. like that, worldwide exchange is over we will see you tomorrow tcquawk" and the gang pick up. bioin is up, futures are up. thanks for being up and watching us take care. ♪ i'd do anything ♪ [ dog stomach grumbling ] ♪ for you dear anything ♪

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good morning don't expect 1970 style

inflation. that was jay powell's message to congress yesterday highlights straight ahead. then markets taking notice the nasdaq closing at a record high microsoft hitting a major milestone. show you what's new today, this morning. bitcoin went negative for the year, but that didn't last long. the cryptocurrency rallying yesterday. to some extent at least bouncing back and again this morning. less than 24 hours after it went as low as 28,000 and change. wednesday, june 23rd, 2021 and "squawk box" begins right now. good morning, everybody. welcome to "squawk box" here on cnbc as joe mentioned, the markets have