planned. if you have $100,000 or more of life insurance, you may qualify to sell your policy. don't cancel or let your policy lapse without finding out what it's worth. visit coventrydirect.com to find out if your policy qualifies. or call the number on your screen. coventry direct, redefining insurance. it's 5:00 a.m. at cnbc headquarters here is the top five at 5:00 stock futures are popping as russian forces are backing off positions on the ukraine border. this ahead of the key face-to-face this hour between german chancellor scholz and vladimir putin uncertainty of ukraine with the global energy markets and crude falling more than $2 this morning. they don't call him the oracle this morning. the team buffet is expected to

buy. and the deal that is sending one rival soaring. why federal regulators are looking at the wall street big banks and questionable trading practices. it is tuesday, february 15th, 2022 you are watching "worldwide exchange" on cnbc. good morning i'm courtney reagan in for brian sullivan of the thank you for joining us from where you are watching in the world. kicking off tuesday morning with u.s. stock futures actually surging. you see the dow jones industrial average higher by 352 points here in the early going. s&p indicated higher by 60 points nasdaq higher by 273 points. this all comes as the dow and s&p and nasdaq and russell look to avoid a fourth straight day

of losses. and crude falling 2% after hitting the highest level in seven years. you see we are down more than 3% below $93 a barrel for wti as gasoline or crude bubbles up, so does gasoline rbob hitting the heiighest level since 2014 right now, sitting at $3.49 for a gallon of regular. you see the rbob futures at 2.7076 treasuries is a an market we are watching closely we look at the shortened the two-year note at 1.57% the five-year note is below 2%

at 1.93% let's look at cryptocurrency volatile trade to the upside for the market bitcoin is higher by 4% at 44,052 you have ethereum up 7%. just above 3,000 at 3,094. let's look around the world. trading getting under way. rosanna lockwood is in the london newsroom with the early action rosanna. >> reporter: courtney, good morning. a turn for the books the stoxx 600 started the session on tuesday at the flat line and quickly turned on the russia reports that troops, a portion of them, returning to the bases. it was enough for the markets to turn around. the stoxx 600 has been holding on to that for the last hour a lot of green positivity across the board. let's look at the sectors and it

is not just about ukraine, but rates as well. we'll come back to that. when you think about the ukraine crisis, travel is widely affected we are looking at travel up at 11% higher airlines may feel more comfortable with navigation around europe. oil and gas as courtney mentioned in the flat line for the companies. we have seen a decline in oil prices this morning. european yields is the other story. focusing risk on the equity markets. yields sell off on monday. we see them creeping back up this morning the ten-year bund is now .20 we have seen interesting moves throughout the session of course, fixed income and equity are pricing in from bullard comments speaking to your colleagues about the move in june

we have taken into account and it has been a sudden turn for the books. >> thank you, rosanna. we will move to the top story on the developments on the ukraine and russia border. german chancellor scholz is in russia today and meeting with vladimir putin and exploring avenues to ease tensions this meeting comes after reports from ifax that russian troops are returning to deployment bases following training exercises. this as russia's foreign minister lavrov raised expectations that the standoff may be resolved peacefully moscow could still talk. joining me now is moscow bureau chief max seddon max, good morning. thank you for joining us here

today. i guess the first question is for all of us to understand is what are deployment bases? >> this is a barracks is what we call it. basically what russia defense ministry from military districts near ukraine are going back to base it is too early to tell what this monies. tw means twice in december and the build up with the russian announcing withdrawing troops and the equipment stayed at the border it certainly is being interpretedly m by markets as a positive sign. russia is trying to spin the american warnings of plans to attack ukraine as baseless the foreign ministry spokeswoman said after the defense ministry started publishing the videos of tanks driving back to base that this would be a day of the

western war propaganda failed. the kremlin said any allegations they were planning to attack ukraine is baseless hysteria we don't know if that is the case we have to follow our open source and satellite photos to see where all of the troops and equipment go certainly that is the way russia is trying to spin it >> that's what i was going to ask you. what sources should we rely on to try to figure out what the truth is and what the facts are if russia is telling us one thing and the united states is telling us something different based on the actions of the government it seems like the united states is concerned something is going to happen. markets are seeing this as a sign of relief where should we turn for information as this develops when you talk about open source images >> i still think we have to be very careful about how we judge any of this.

russia, after lavrov, the foreign minister, he told putin there was morse code for dipl diplomacy. the deployments on the border and threat of war spooked the u.s. and the european allies has already been successful for putin. the chancellor of germany is in moscow today this is the latest in a series of meetings and phone calls that putin had with western leaders to try to get russia to deescalate if this is the beginning of the drawdown which is still a big if, this could be a way for both sides to spin as a win the biden administration could say our warnings worked and we got russia to stand down and russia could say this is hysteria we never were going to attack.

>> interesting these developments are worth watching and following max seddon, thank you for following this for us. you are doing fabulous work. we are showing you live pictures of moscow. you can see the german chancellor preparing to meet with vladimir putin. this is what we are watching today. we hopefully will get information about this meeting in a couple of hours from now. let's get to some of the top stories with kristina partsinevelos. she is here with those good morning, kristina >> good morning. intel with a deal for $5.4 billion representing a 60% premium to yesterday's closing price. it makes chips for cars and consumer products and medical equipment. federal investigators are launching a probe into block trading at the biggest banks

including morgan stanley and goldman sachs. they may have looked to tip-off hedge funds of large sales favoring key clients some act as liquidity providers to wall street firms. and peloton is laying off and bringing in new management in all parts of the operations, including supply chain new ceo barry mccarthy is not lki looking to sell the company. this is making peloton more attractive to possible suitors they laid off 2,800 people and one-year free membership the instructors we all love are still there. >> the headlines keep on coming. kristina partsinevelos, thank you very much. talk to you later. when we come back, how far warn buffett continues to earn the oracle of omaha and a perfectly timed buy by

berkshire. and why they are drawing up plans without the world of oil h helima croft is with us in the busy hour of "worldwide exchange." ♪ ♪ what do you think healthier looks like? ♪ ♪ with a little help from cvs... ...you can support your nutrition, sleep, immune system, energy...even skin. and before you know it, healthier can look a lot like...you. ♪ ♪ cvs. healthier happens together. here's a direct question. how long are you planning on keeping your new smile? yeah. that's why smiledirectclub has their lifetime smile guarantee™.

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welcome back check out the yield curve. the spread between the ten-year and two-year treasury is at the tightest level since the start of the pandemic. some fear it is caught between

the fed and central banks and tensions with ukraine and russia let's get more from the senior investment manager for asset management ella, thank you for joining us here what is your read as we see the spread getting tighter and tighter on what the bond market and investors are trying to balance? >> typically when you see the curve flattening to the levels in this trend and speed we have been seeing, particularly from late last year and into this year, it is telling you the policy is getting tight. the flattening argument is that eventually the central bank will have to give back some of those hikes and therefore, tighten and too much for the economy to bear that is why we are seeing this trend in markets which has been one of the more persistent

trends in fixed income >> james bullard told steve liesman that the fed decision is on the line with the mondetary policy what do you believe the fed needs to be doing? >> well, the response from the fed is the response you would want to see when you have the inflation trends we have been having elevated i guess from the market perspective, it is about the pace of that hiking cycle that they are introducing on the one hand, the fed is reactive to the inflation. on the other hand, the curve, flattening of the curve, is telling you that it could be a potential too much of risk assets that is why we are seeing the increased correlation with

prices and the risky asset markets are reacting negatively when we see those much higher yields on certain trading sessions >> inflation has been hot. hotter than expected in many cases when we see the reads that come out monthly and at the strongest pace since 1982. is there anything that the fed can do with monetary policy with the tools it has tablo curtail s or are the signs there to alleviate their systems of working their way through? >> i think you are right in terms of the supply chains there is very little the fed can do it is the economies that need to work that through as you point out. it can do a lot with confidence. it is about the fed credibility

in terms of targeting inflation. to that effect, the response we've had and the pricing of break evens when tend to elude the premium in the market have come off the longer term factors are break ieeven they are telling you the market is not worried about inflation in three-to-five years time, but the shorter nature of it could you argue they are going rapid when we potentially reached or close to the peak in those numbers? it is possible very difficult to say. they appear to be fairly nervous of the prospect of the higher inflation feeding through to higher surveys the average person in the street looking at a higher inflation conundrum down the road. that is the risk for central

banks. >> ella, thank you for joining us still on deck, burned by gamestop one hedge fund hope for redepos redemption and the stocks it is buying to accomplish just that >> announcer: today's big number $147 billion that was the total trade between russia and china last year according to data from china's general administration of c customs. a new record that's up 36% from the previous year of my hair back. seeing the progress was awesome, seeing my hair grow back so quick. i feel great, i feel confident. i feel very happy about my journey so far with keeps and where it's going in the future. get started at keeps.com/tv. make fitness routine with pure protein high protein. low sugar. taste great. high protein, low sugar..

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welcome back to "worldwide exchange." we're getting news on the investment world hedge funds have been buying and selling melvin capital is now known as the firm burned by gamestop when it bet against the company last year and it gag ve the hedge fu betting big by live nation that makes it the funds biggest holding. melvin adding to hilton and expedia. david tepper adding in nordstrom and gm

a winning bet for warren buffett. he bought $1 million of activision pretty good timing by the oracle of omaha. let's get a check of the headlines with steven romo in new york >> with the ambassador bridge and cand ontario open, justin tu ruled out using the military, but threatened with plans to tow vehicles or freeze bank accounts. russian figure skater kamila valiyeva is back on the ice. she tested positive for a banned substance before the olympics. the court ruled she may skate because she is a minor or

protected person in the rules which are different forrer her n adult athletes if she wins a medal, the games won't hold a ceremony. he may be the ceo of goldman sachs, but david solomon dj's a party at central park in los angeles. he was a dj. he played the sports illustrated party and attended by jeff bezos. his dj name? d-sol. funny. >> he has been known to turn the tables interesting side hustle for the ceo of goldman sachs thank you very much. straight ahead, the fate of the crooked crypto couple arrested on conspireing to launder billions of stolen bitcoin. if you miss "worldwide

exchange" check us out on your favorite podcasts apps we'll be right back. what if you could have the perspective to see more? at morgan stanley, a global collective of thought leaders offers investors a broader view. ♪♪ we see companies protecting the bottom line by putting people first. we see a bright future, still hungry for the ingenuity of those ready for the next challenge. today, we are translating decades of experience into strategies for the road ahead.

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call it a tuesday turn around stock futures surging as wall street looks to snap a three-session losing streak. this hour, chancellor scholz is having a face-to-face with vladimir putin and flexing its pricing

power after seeing big gains it is february 15th, 2022. you are watching "worldwide exchange" on cnbc. welcome back i'm courtney reagan in for brian sullivan let's get a look at the stocks checking on the dow futures, take a look as you get started we're up 280 points. take a look at this. you can see right about here is where we got this news higher this is just where we are sitting off the session highs. when we got the news of the troops moving to deployment bases on the ukraine and russia border which perhaps is a deescalation of the rising tensions we are not climate accord what

is going on. the market moved higher. it seems to be there is hope there. pre-market gains following europe higher. you see across the board we're higher in europe italy higher by 1.2% the german chancellor is meeting with vladimir putin. a take look at treasuries. look at the yield on the two-year note. 1.579. the five-year and the ten-year holding above 2% look how closely these are tracking something we need to continue to watch. energy prices. we are seeing crude oil fall almost 3%. below $93 a barrel on the news of possible deescalation with russia and ukraine

very early going intelligence is still figuring out what is going on markets are moving. let's get a check on the other top stories. kristina partsinevelos is back with us. >> let's talk about the accounting firm that is prepared former president trump's finances for years now saying those documents which have been used to secure loans and bolster him as a wealthy businessman should not be relied upon this after the new york attorney general said they misstated the value of mr. trump's assets. in a letter to the trump organization, they advised anyone who had access not to use them if assessing the financial health of the company and former president. the company says it is cutting ties with the former president a judge ordering the pre-trial detention of the husband in the crypto criminal couple accused of laundering

more than $3 billion in stolen bitcoin. at a hearing in federal court, the chief judge reveersed the decision by the other judge saying the financial resources could be used to facilitate flight and could all be used to evade. tesla ceo elon musk donated 5 million shares in november the shares were transferred in batches between november 9th and 29th as musk was selling tesla stock in preparation for a large tax bill drum roll. >> every move that elon musk makes we follow closely. taxes or otherwise >> tweets. everything >> his haircut all of it. >> his bandanas. never mind. to the top stories

oil prices pulling back from seven-year highs amid news of easing tensions on the ukraine border with reports that russia is moving troops back to deployment bases concerns of invasion and disruption of energy supplies is a concern. german chancellor scholz and president vladimir putin are meeting as we speak. he is expecting to say the west is looking for concerns. let's bring in helima croft at rbc capital. she is saudi arabia at the conference with the iea and opec helima, you are a busy woman these days i want your take on the news we got a couple of hours ago about what is going on at the border of russia and ukraine and movement off the deployment

bases. do you believe this is deescalation the energy market is reading it as such. >> they are continuing to do military exercises in belarus and the black sea. we don't know if this is a true deescalation the foreign minister lavrov indicated the russians are willing to continue negotiations it does not look like they are demand about ukraine never in nato is there. we don't know if this is a true deescalation. >> of course, a lot of discussion about what the united states could do if russia does invade ukraine however, oil or energy could be exempt from the sanctions. what are we looking at as a potential disruption to the energy market when it comes to the united states and the sanctions against the country? >> you are right u.s. officials indicated they are looking to exempt energy

from the list of sanctions because they don't want to exacerbate the situation in europe if that is said, if its major banks are black listed, there is a concern that russia, in turn, will look to restrict energy su supply russia is a major producer of wheat and metals there is broad concern of what would happen in commodity markets in russia restricts supply. >> where do you believe the markets are pricing in risk when you talk about commodities i understand the lng players are seeing the biggest hits now. across the board as you mentioned, commodity markets are at play. what is priced in and what is not? >> courtney, these are tight markets. take the oil market of the we are in a situation where we have this global reopening. we have lockdown restrictions

easing and the supply picture is tight. opec has not been hitting 400,000 barrel a day monthly increase there are concerns of the overall tight market the situation with russia and ukraine is exacerbating the situation. the market is already fairly tight o tight. oil will pull back we are not talking about an oversupply of the market >> is russia happy the price of oil is remaining at this level >> this is good for russian finances with oil at this level. the broader concern for russia is what type of sanctions would be imposed in the event of invasion the u.s. and russian allies are imposing the punitive sanctions. they would be facing very severe sanctions on the financial institutions and real impact on the ruble.

they are concerned about the west >> you are in saudi arabia right now. u.s. officials are there what conversations are being had with saudi arabia and their oil production in light of all this? >> i think there is a broader conversation going on with u.s. officials and senior saudi officials about the relationship you have a number of officials talking about the importance of the u.s. and saudi relationship and helping saudi arabia deal with the ongoing threat from the houthis. and the threat of oil to have saudi putting oil in a lower level for consumers. the question is if we get a type of military activity in ukraine, who can put barrels on the market to change prices? >> before we let you go, what is the impact in europe as we know

the generman chancellor is meetg with vladimir putin? >> this is a huge concern. look at germany. 32% of the gas comes from russia 34% of oil 50% of coal. germany is very tied economically to russia they have a very strong vested interest in deescalation >> helima croft, thank you >> thank you now to washington news and signs capitol hill is going after crypto ylan mui is here with us ylan, this is fascinating. >> reporter: good morning. congress is taking a hard look at crypto as now a potential investment our analysis found eight

lawmakers or family bought or sold crypto the past year. the most popular bitcoin. 229,000 transactions second was ethereum with 40,000. then congress got into the meme coin dogecoin and cardano. now these are estimates because lawmakers don't have to tell specifically how much they invested they have to report what they traded that included some of the lesser well known cryptos like stellar and chain link and token and eos which ran afoul a couple years ago from the s.e.c look at representative mark green. the most active trader on the list he bought dogecoin twice then he sold a month later when dogecoin was trading more than three times that amount. you can say he missed the peak,

but got out before the slide he uses a money manager and is not providing any direction on what to buy or sell. they said he follows all of the current rules over trading and disclosures. courtney, the debate in washington is if the rules need to change. >> exactly you were saying that following the current rules and disclosures. lawmakers are talking about a ban on trading stock would that apply to crypto as well >> reporter: courtney, it is unclear. i asked the lawmakers' offices about this specifically. they don't know. most of the proposals are focused on individual stocks one includes commodities as well this really comes back to the fundamental question of whether a cryptocurrency is a currency or more like an other financial asset. does it matter what cryptocurrency you are buying? we know the administration and congress want to have more

defined parameters for stable coins operate. we see the push in washington to avoid financial conflict of interest, but that push risks getting bogged down and details of how it would work >> ylan, i know you did research and you mentioned eight la lawmakers. do any on the list have discussions in committees about cryptocurrency general? >> reporter: two of the senators on the list. pat toomey sits on the senate banking committee. both of them are vocal and open about the ownership. senator toomey says it is a small part of his portfolio. lawmakers should know something about what they're regulating here and legislating about cynthia lemis is an advocate on

crypto on capitol hill this is a situation where lawmakers are not hiding investments. some are open and public about the trades they made and say this is part of the lawmakers' participation in the financial markets. there is nothing wrong with that as long as they disclose >> very, very fascinating. ylan mui, thank you. coming up, the ceo of parno america. she has an update on the costs on everything and the spirit of the coumnser "worldwide exchange" will be right back you want your data to be protected and secured. and your customers want seamless and easy. with ibm, you can do both. your company can monitor threats across your clouds, address all those regulations, and still create all new experiences.

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welcome back to "worldwide exchange." let's bring you money movers shares of arista network posting better thann expected quarterly results. senior living shares are down following the order for the retirement home operator the stock is flat so far this year and down 4% today watch shares of intuit today t cutting revenue forecast a slow start to the tax season shares are lower by more than 1%. consumers return to eating out and the outlook is becoming more and more positive despite inflation, consumer

demand is strong for the sector. that could be good news for parnod maker of jameson and more. joining us now is ann. the ceo. ann, thank you for joining us. big discussion about input costs for almost every company across the board in every sector. your company is not excluded what is going on with inflation and how you are able to manage through your portfolio >> first of all, great to be here thank you. i will tell you input costs like any industry is hitting the spirits industry it is giving us an opportunity to think through the entire value chain and how we look at that from the pricing perspective. that inflation is really pushing some of us to price brands what is interesting is despite inflation, consumers have a

little bit more discretionary income than the past they have not been able to travel what we have seen in the spirits industry is premium. consumers see value of buying great value spirits. we're seeing a lot of resiliency in this category >> you sell to commercial businesses and bars and restaurants as well as to consumers through retailers and grocery stores how is the price being passed along in the different segments? >> we are a three-tier system. pricing is managed by distribute o distributers we see people reflect that price. we are seeing consumers continue to really enjoy different brands and they're buying across the industry and across the segments they are willing to pay more we are seeing that because a lot of people are still seeing a lot

of in-home consumption all that growth in in-home consumption continues to stay flat so we are not giving any of that back. as restaurants and bars are opening up, we are seeing massive growth in the segment. it's raising all those it is raising across the industry >> i see for the second half you were up 17% globally what does this tell you about the covid recovery across the globe and what's going on? >> what i'll tell you is first and foremost is people are seeing premiumization across the globe. if you are at home, you can buy more expensive bottle of spirits and spends on myself, but per glass, i'm spending less people are beginning to

understand what that looks like. people are beginning to understand how to make cocktails at home. that trend is global it is continuing to stay as we're coming out of covid. we're seeing a great resurgence in asia, especially with the china and india markets. europe has had a good rebound. the united states is the largest market where we are seeing a lot of resilient growth. we expect to see that going into 2022 >> when you look at the demographics, you have an aging baby boomer population and millennials as well that are aging. are you seeing a shift in the demographics ss choosesiing to g w drink? >> we're seeing a malt and

seltzer slow coudown they are enjoying brands we got brands on malibu, pina colada we are coming out with jameson ready to drink we see consumers want to experience the brands in ready to drink segment we are seeing the younger population with cognac our hotel business is taking off. across the board, we are seeing irish whiskey and american whiskeys explode our jameson business is up in restaurants as it comes back 12%. you know, across all age segments, you are seeing different trends pick up people who are older are making the cocktails at home. you know, across every segment, you are seeing incredible

tailwinds that we are able to take advantage of. >> interesting ann, thank you for joining us. ceo of north american region for pernod coming up, futures gess get pop this morning we will talk about how investors should think about the headlines flying around the ukraine crisis. if you haven't already, follow the podcast if you missed "worldwide exchange," check us out on appl or spotify or our platforms.

alright, so...cordless headphones, you can watch movies through your phone? and y'all got electric cars? yeah. the future is crunk! (laughs) anything else you wanna know? is the hype too much? am i ready? i can't tell you everything. but if you want to make history, you gotta call your own shots. we going to the league!

welcome back to "worldwide exchange." confusion with the near term future has been causing volatility futures moving higher on the report that russia is returning some troops to bases the dow jones industrial average indicated higher by 340 points nasdaq higher 263 points and s&p higher by 58 appoipoints let's bring in keith lerner. keith, the market is reading this as a good thing, but many experts we have been talking to the last hour are not sure worried this could be premature. if you are an investor waking up to the headlines, how should you react? >> first, great to be back with you, courtney. don't over react we are in a headline-driven market when we look back historically at geopolitical events and

crisis events, it does cause volatility sometimes you see a bit of a short-term market dip. when you look 6 to 12 months later, markets tend to rebound and it does not disrupt the underlining trend. we would not sell into this. one positive, courtney, sentiment has been bearish because of the fed and geopolitical side. good news could go a long way for the market. >> what if it is the opposite? do you think investors should use history as a guide and note temporary dips, but in the long run won't impact markets or is that i am pmpossible to say >> i expect down side for the overall markets. as we look at the research, does this cause recession

also, i think one positive relative to history is unlike 20 or 30 years ago where we were big importers of energy, the u.s. is an exporter. there is benefit to our company. when you think globally, this reinforces our longstanding overweight they are more interconnected to the energy markets and russia. there is more down side in those markets and remain under weight. >> price of wti is down 3% in general, that's well elevated those prices are higher than recently i understand your over weight to energy as comments suggest is that for the year or is that beyond energy has been a winner or loser. there is not a lot of between. how long you can stay with that trade? >> we have been over weight

energy for the past year for this year, it is up 20%. short term is due for a pause. the next sector is up 3% up 20% some consolidation would be no normal an interesting stat, courtney, energy is still under performing by 60% we think with a firm economy and negative sentiment with allegations to energy, there is upside to the neck xt year. >> a lot of discussions over what the fed may or may not do james bullard was onyesterday and saying the fed has to be careful. credibility is on the line what do you think the fed needs to do as far as it can to keep inflation in check and with the next move it makes on the monetary policy? >> we think they need to move forward. if we look at the first rate hike, the average unemployment

rate was 6%. today it is 4% the average inflation rate when they first raised rates was 2.4% today is 7 that 7 is coming down. for the market, another thing that injects the volatility is short-term historically, markets have moved up 11 of the 12 cycles we studied. this tends to happen alongside an economy that is improving that's why the fed is raising rates. they are behind the curve and need to start moving with the rate hikes. >> keith lerner, thank you for joining us with your take ahead of the market open that does it for us here this morning on "worldwide exchange." as the markets are trending higher after the latest headlines, you can see the dow jones industrial average higher by 335 points. nasdaq higher by 268 s&p higher up by 58. that does it for us on "worldwide exchange" this

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good morning breaking overnight russian deescalation state media saying some troops are pulling back after completing drills. crack union in canada. the government invoking emergency powers to halt disruption over covid restrictions and whale watching we have the latest moves from the world's richest.

happy valentine's day, since i missed it yesterday. "squawk box" begins now. good morning welcome to "squawk box" here on cnbc i'm rebecca quick along with joe kernen and andrew ross sorkin. gentlemen, welcome back. good to have you back let's start off with what is happening in the u.s. equity futures. you are seeing big moves across the board. dow futures indicated up 346 points s&p up 57. nasdaq up 263. joe mentioned this is because we could have some movement on the russian border russians potentially moving troops off the border. that's good news for the market. you saw negative territory for futures to positive as the headlines were hitting early this morning we will continue to watch this closely. yesterday, treasur