it is 5:00 a.m. this morning on your top 5 @five. the white house with plans to help with the backup of items. and apple's chip shortage.

and southwest and american airlines take on greg abbott when p it comes to illegal vaccinations a legal fight for sure >> and a stock sinking pre-market this morning. later on, a space flight more than 50 years in the making as william shatner prepares to boldly go -- you know the rest it's october 13, 2021. you are watching "worldwide exchange" on cnbc. good morning i am dominic chu in this morning. >> the white house announcing the port of los angeles will move to 24 hour service, seven days a week in an effort to hip

with supply backlogs also receiving commitments from walmart, target, and others with more to follow the international long shoreman's and workers crew will be able to staff the ports working to discuss the deal including with directors of ports of l.a. and long beach, walmart ceo, target ceo and national retail federation president. we'll see if we see any relief soon >> what is the white house saying about getting goods out of those ports on to trucks and

trains >> according to senior officials, major sectors need to be next. they are looking to trucking and freight and looking to off peak incentives to help with the bottlenecks. speaking of d.c. another threat to u.s. growth, that is cyber attacks. >> good morning. this cyber attack meeting will be held at the white house today and tomorrow it will ghin in two hour's time. 30 countries will be invited to this virtual meeting today and tomorrow you see all of the countries involved take a look at the upper right-hand corner. who is not invited the country of russia will not be participating in the

30-country meeting russia was not invited to participate in this round. they'll be talking about topics including cyber security resilience and also talking about cryptocurrency and what to do there in terms of how to intercept payments a senior official on a call said yesterday they are developing innovative new capabilities to stop those and we hope to learn more about that. the big piece is diplomacy how all these countries work together to score taking on this new dynamic. the white house wants to do what it can to stamp it out >> you mention the lack of russia does this meeting have any substance if you cannot address the issues around russia and

some of the roll it may have had in some of the major cyber attacks in the last few years? >> the truth is, the united states believes a lot of the ransom wear is coming from russia or former soviet states and that the russians are either allowing it or behind some of it the idea if you are going to have a counter ransom wear meeting, you'll have to talk about how to counter the russians at pains suggesting, look, we have other venues in which we are in contact with the russians they are just not invited to this one officials also pointingto this lull we've seen to attacks and raising the question whether or not that is a result of terms

the united states and russia came between biden and putin it may be some of the progress but they are not invited to this one, dom >> thank you for that. on the heels of all of that, let's check on stock futures you can see the holding pattern. the dow up by about 50 points. the nasdaq up about 57 trying to complete four straight losses at this stage key inflation deals taking on 1.57% that is slightly lower than we've seen. >> around the world, hong kong forced to suspend trading due to a typhoon alert. numbers for september rising versus the same time a year ago

to $240 billion. less than the 20% estimate china's trade surplus hitting a monthly high exports are um 30% from the same time last year the cac in france out pacing the market up 2/3 of 1% now and st. louis fed president james bullard said he would support scaling back bond buying starting next month. he's been pushing for a approach when the fed starts to wind down the program. >> on inflation, i think the story that infligs will come down naturally is a reasonable

one but i only want to put 50% probability on that scenario and i've got to put some probability on a scenario where inflation stays high or goeshigher is this issue of inflation going to be something central bankers had to worry about in coming months. it will be around for a while. we've had this massive cycle created.

some of that has come from changing mix and labor patterns. with problem solving and we are in a bit of a holding pattern. one small example of how some of these problems are being solved at the same time we've had a number of these items developing i guess what i'm trying to imply or ask is what exactly are the time lines do the supply chain issues start to ease based on something that might resolve themselves within a couple of months >> timing has been so

predictable. we've had a textbook rally we've seen it reverse itself a little my view is the next weeks on year end will lead towards the end of the year, the longer term horizon and there you have to look at the tail ends of growth >> we have a big week kicking off. the banks as well. what are the expectations you have versus what you feel is in this earnings season and the catalyst to break this out in the last few weeks

>> in my view, we have a set up where any kind of excuse has been offered on the miss whether labor and supply chain issue i'll be looking to guidance. before i let you go, you've got a favorite sector out there. i wouldn't overstay the welcome. technology and everyone out there looking to solve productivity issues.

>> more great news for a fund this year. apple under pressure as it looks orwi ele back iphone models. "wlddexchange" is back after this or it could be the day there's a cyberthreat. only comcast business' secure network solutions give you the power of sd-wan and advanced security integrated on our activecore platform so you can control your network from anywhere, anytime. it's network management redefined. every day in business is a big day. we'll keep you ready for what's next. comcast business powering possibilities.

in business, setbacks change everything. so get comcast business internet and add securityedge. it helps keep your network safe by scanning for threats every 10 minutes.

and unlike some cybersecurity options, this helps protect every connected device. yours, your employees' and even your customers'. so you can stay ahead. 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 now for your big money movers cloud operations grow 16 to 19%. shares up 5% qualcomm says its board has authorized $10 billion new shares of buyback programs those shares up. shares of crispr therapeutics as a part of the cancer therapy disappointed investors that move could spell some trouble for the revolution etf

and flagship fund. that etf adding positions in crispr adding to the company arc g. >> shares of apple are under pressure after reports the company will cut iphone production due to the chip shortage they will cut production by up to 10 million phones this year right now, those shares off in the extended trade and underperforming. components suppliers also down after being named in the report they are the eco system for apple and iphone off one and a quarter percent as well >> still on deck, jeff bezos'

blue origin getting into the celebrity space race with one captain kirk

welcome back to "worldwide exchange." let's get a check on headlines with frances rivera. >> we start with breaking overnight after a 19-month

freeze the u.s. is engineering up to reopen land borders. starting in early november, vehicle, rail and ferry travel between the u.s., canada and mexico will reopen but only to fully vaccinated foreign nationals. the house is setting the short-term debt ceiling narrowly avoiding the first u.s. default. with every republican voting no. raising the nation's borrowing limit until december president biden to sign before october 15 netflix with another huge giant. announcing the korean survival thriller squid game has become the biggest series launch.

brigger ton was the previous winner i would only handle one a day. i have two more to go. the intensity, man i had a talk about how the show makes you just the right amount of uncomfortable i have to gear myself up for the whole process. >> you do. all right. >> making shatner the oldest person to go into space at, get this, 90 years old the first milestone seeing

public companies and billionaires reach for the stars. more on the significance of this launch, let's bring in founder and ceo of phantom space and founding member of the team at spacex can you tell me whether or not captain kirk going to space is what you imagined back in the day. >> this is a little bit of art imitating life >> inspiring captain kirk and the star ship enterprise i can speak to some early at spacex thats that's what inspie us as well >> we've got the star ship

enterprise >> what does this do for the overall capability does he draw in the other part of the population where he hadn't been drawing in as close with what's happening? >> any time you get a profile like this. in a lot of ways maybe with a childhood hero actually going to space, it makes our dreams when we were young a reality. there's a lot of people around that aren't really paying attention to what's going on in the private space. almost everyone knows about star trek >> where things stand now, we talk about private space travel. a lot of the attention these days with companies like blue

origin, virgin galactic. will this move here get more government involvement in the revenue source much like putting people into space was a symbolism for the cold war and in the u.s >> this is the early stages.

the economics don't matter because this is a real force behind it. how long before the private travel to space becomes he can n economically viable? >> i think into the decade, you'll see a lot of private astronauts come about on spacex and more behind spacex and this area it isn't really where the money is the real story is behind the scenes where the unmanned stuff for the satellites are going up are providing a huge economy that is almost $1 trillion a year >> one last question, kirk or piquard? >> kirk.

>> jim, thank you. we appreciate it still on the show, bitcoin mining race. guess what country is number one? >>. and texas airlines take on rn abbott and mandating covid vaccines we'll be right back. ♪ earl: - hey barista: - good morning, earl! narrator: - since our beginning, barista: - there he is! narrator: - we've looked to inspire and nurture each other, by asking what's possible? what's possible when we connect? office worker: - coffee's here! narrator: - what's possible when we come together. female 1: - kayla? female 2: - oh. is it ok to hug? narrator: - when we open our hearts. female 2: - this is like the best date i've ever been on. narrator: - when we grow together. narrator: - after 50 years,

we've learned that possible is just the beginning. this halloween, xfinity rewards is offering up some spooky-good perks. narrator: - after 50 years, like the chance to win a universal parks & resorts trip to hollywood or orlando to attend halloween horror nights. or xfinity rewards members,

get the inside scoop on halloween kills. just say "watch with" into your voice remote for an exclusive live stream with jamie lee curtis. a q&a with me! join for free on the xfinity app. our thanks your rewards. stocks in a holding pattern

results out before the opening bell as southwest airlines continues to navigate turbulence >> and kathy wood and china's ongoing private sector crack down it is wednesday, october 13. you are watching "worldwide exchange" on cnbc. welcome back to "worldwide exchange." i am dominic chu in for brian sullivan the dow is implied higher by roughly 59 points. s&p up about 8, nasdaq higher by about 66 markets are calmer right now

>> nike is facing a $20 million lawsuit over allegations of abuse. and naming the former coach accusing him of emotional abuse after joining the project in 2012 the allegations were raised in late 2019 when she appeared in a new york times op-ed nike described the claims as deeply troubling and announced it was scrapping the organ training program saying china's ongoing crack down would lead to the economic crack down in the country saying that crockdown could have

broader ramifications. >> i think we might be looking back at this period in six months and say, gosh, isn't it obvious that this would be a major slowdown in china? major and unexpected slow down which should have a big impact on commodities generally the latest federal contractor to implement rules. it would allow despite a ban on the matter in the home state the move by the texas-based operators defy the demand.

both have asked employees to submit proof of vaccination by september 24 >> sticking with the airlines, delta set to report third quarter results. the first of the group and with signs of recovery. management has indicated they would be one of the few profitable airlines. for more on those quarters we are joined by the senior research analyst all things airlines and more talking about whether or not these results will show the airline industry continues to heal >> yes good morning thank you for having me. we think so. we think delta will be one of the few profitable airlines. american raised their guidance for the quarter and also talked

about a fourth quarter that would be strong. our view is that we'll have some really goodweeks on the mend. >> a lot of stocks seeing a sharp recovery the covid delta variant. is it safe to say that going into next year, the travel outlook does become difficult?

>> i think things start to get better the variant starts to dissipate across the country i've heard dr. gottlieb speak about this becoming an andemic as as opposed to a pandemic we have the flu. we have to get used to this. our view as people get used to it and figure out how to deal with it, whether we have booster shots or not we do think people will get back to the office an traveling we are already seeing that we see 2 million people a day generally traveling, which is pretty close to a tuesday, wednesday, what we would have seen prepandemic in january. i think as we think about 2022

we'll have a pretty strong summer months across the atlantic near international will continue to be strong domestic as well business comes back. by the summer, 80% is prepandemic. by 2023, we'll be back to whatever our next normal will be >> we've been showing viewers out there. a lot of the charts domestically and internationally focused. given the set ups in the market. is it better to pivot towards domestic focus or ones with more leverage in international and business travel? >> yes exactly. we were thinking business travel like allegiant, alaska air,

spirit we were thinking that for 2021 as we pivot to 2022 with international coming back, united is the most leverage. more wide bodies now with either of the other two international focused airlines and more exposure to business travel. we'll think about pivoting from those two. that would be united, and delta. don't miss ed bastian from delta airlines you'll want to hear what he has to say about the state of travel and what will happen with the vaccination mandate as well. crypto crack down.

new data confirming the usa is the top destination for bitcoin minors surpassing china for the first time more on those numbers. we can say right now that the u.s. is winning the battle here. can it continue to win the war >> yeah. so the numbers are pretty staggering the u.s. is firmly in the lead it accounts for one-third of all the world's bitcoin minors up 428% from september of 2020 we already knew the u.s. was becoming more of a hot spot, this new data confirms the u.s. is number one in terms of the bitcoin market we've seen shares fall from 57% to zero on the year.

beijing made the push to entirely shut down the bottom line, minors are looking for cheap electricity competing in the low variable top and energy. >> what does this mean for the whole debate around the bitcoin carbon footprint is it a good thing all these minors are headed here towards the american shores? >> a great question. china was known for hydropower, which was a good thing and coal

plants in the u.s., we see many of these mining farms latch on to renewable power sources. so comes the question of biden clean energy >> thank you for being with us coming up, leaders come together in a global crisis we'll talk to the aramco executive to talk about what it will take to combat the rise of prices an investment group kkr-led coming up near a deal for rights to music by lorde and the

weekend. millionaire jack ma has resurfaced reportedly is in hong kong and met with business associates in recent days here and sad news this morning with the passing of hasbro ceo brian goldner. announcing his death days after he stepped down for medical leave. he announced last year, he was battling prostate cancer at the age of 58. ♪♪ in boxing or any other business, one day, you're gonna take a hit you didn't see coming. do you stay down? or do you get up?

[announcer] and this fight is a long way from over, leonard is coming back. ♪♪ ♪♪ isn't it a paradox? that the love for this world that gets us out in it sometimes leaves behind the things that can harm it? but now, flight by flight, we can make a difference. because delta has committed to becoming the world's first carbon-neutral airline on a global basis. we believe you shouldn't have to choose between seeing the world, and saving it. ♪♪

firefighter maggie gronewald knows how to handle dry weather... ...and dry, cracked skin. new gold bond advanced healing ointment. restore healthy skin, with no sticky feeling. gold bond. champion your skin.

it started with an idea... and became a new tradition. this is financial security. and lincoln financial solutions will help you get there as you plan, protect and retire. welcome to "worldwide exchange." continuing to be front and center as crude oil prices however near the highest in about seven years. in europe, the crisis is even more dire as natural gas prices soar above norms up some 500% with that, russia using the crisis to push its own agenda and flex its muscles when it

comes to supply. joining me now, former president at upstream at saudi aramco. upstream, that's talking about getting oil out of the ground. can we get more oil out of the ground >> good morning. i think we are pretty much tapped out except for opec that could come in the problem isn't oil. the problem is refined products those have to go through refineries refineries in the u.s. are extremely low. europe has a double problem because they are very low on gas

inventories. they didn't build up on stock over the last year or so it will stay pretty high as well staying high for brent is very probability. >> with wti futures here as well the move we've seen higher has been dramatic. i am a gasoline consumer i fill up about two times a week as a commuter. i have not seen gasoline prices. yes, they've risen why the disconnect there instead of here in the u.s.? >> the first thing that happens is you draw down oil and the

refineries they've tried to keep prices very moderate. at $75 to $80. that is the normal price range you should see europe. it is not the same thing everywhere they've suffered mord. they depend a great deal on gas for power. different in different parts of the world. i think the u.s. if the oil drilling picks up, should be leveling off if it is. >> we've heard a narrative with

regard to the investment do you think more will be coming out there with regard to the balance? >> that's a good question. oil is a long-term investment. you have to put the money in if you want to reach the investment in three to four years shail oil has suffered from money and services the oil services have been pretty much decimated. it is a pretty bigrecovery

those are something like $500 billion a year we are running around 350 then how do you attract capital with the simple investment and the high tech things we have seen >> what is it about the outlook that has you skeptical and excited. >> generating clean hydrogen and

distribution it is a matter of storage. you have to store a huge amount of technology. that has just not happened you have a big hole between generation and distribution, which is storage they haven't been able to store enough energy to take them through this gap and supply which they are at now. that will take a long time to develop at that scale. not at the small house and car scale but the utility and city scale. >> a huge trend to watch thank you very much for your time, have a good day, sir >> thank you on deck for the show a big day taking stage we get fresh inflation data as well standing by with what you need to know an watch for as a reminder.

you need to follow the podcast on all major podcast apps. also hispanic heritage month here is outreeach ceo. we asked for advise. always ask for suggestions and be prepared for rejections rejections don't always mean no. means not now bringing things together to make you a better leader.

your doctor gives you a prescription. let's get you on some antibiotics right away. you could have it brought right to your door, with 1-to-2 day delivery from your local cvs. or same day if you need it sooner. but at a time like this, aren't you glad you can also just swing by to pick it up? and get your questions answered. because peace of mind is something you just can't get in a cardboard box. that's healthier made easier. at cvs. it's another day. t and anything could happen.. it could be the day you welcome 1,200 guests and all their devices. or it could be the day there's a cyberthreat. only comcast business' secure network solutions give you the power of sd-wan and advanced security integrated on our activecore platform

so you can control your network from anywhere, anytime. it's network management redefined. every day in business is a big day. we'll keep you ready for what's next. comcast business powering possibilities. you could fret about that email you just sent. ...with a typo. aaaand most of the info is totally outdated. orrrr... you could use slack. and edit your message after it's sent. [sigh of relief.] slack. where the future works. welcome back

a live shot of washington, d.c going to president biden's desk shortly here now let's turn back to your markets. we await kickoff to bank earnings let's talk about this season and does it bode well. >> thank you for having me back. i think investors need to be more cautious between the fed and tightening of course, ballooning tax changes. we've been focused and for sure

tax reform has been front and center >> there are reasons we've been cautious that big drop tied to the pandemic >> sure. i think this stterm stagflation has been used over and over. you've seen equity-like returns we get pressure loom

i think investor embraces itself in the more near term than we've seen >> what is the strategy. do you start to raise cash if show, where does that money go on the shopping list >> really great question. big investors raise attention with the 10 year approaching

10%. in this environment approaching the rise for investors in the higher tax market high quality bonds make a ton of sense here reviewing the equity and fixed income side certainly balance back to the market just proportionately large in your risk and expectation to terms to rebalance the target is it more in the value technology camp >> while technology may be pressured in the near term given the rise in rates, it represents

a core portion but we like dividend paying stocks >> that call there thank you very much. have a great day orwi ehae.it here for us on "wlddexcng "squawk box" bigs up next with key inflation earnings and data. keep it right here this halloween, xfinity rewards is offering up some spooky-good perks. like the chance to win a universal parks & resorts trip to hollywood or orlando to attend halloween horror nights. or xfinity rewards members, get the inside scoop on halloween kills. just say "watch with" into your voice remote

for an exclusive live stream with jamie lee curtis. a q&a with me! join for free on the xfinity app. our thanks your rewards.

zb >> good morning. the first day of the rest of your earnings life rolling in this hour black rock and jp morgan numbers in the reaction. in breaking news, the white house announces new measures to ease the bottleneck ahead of the

holiday shopping rush. and countdown to blast off with passenger tj hooker it is wednesday, october 13, 2021 "squawk box" begins right now. good morning, everybody. welcome to "squawk box." happy hump day on this wednesday, let's check things out we'll see some green arrows. looks like the dow is up by 60 points, nasdaq up by 70 points this comes after three down days equities