it is 5k a.m. at cnbc and here's your top five at 5. rate shock as mortgage rates surge the highest level in years. what's going to happen to housing? he's not passing elon musk getting active at twitter. are big changes coming at the heavily criticized company caught up, bidding wars.

n nbc, the white house, tensions over ukraine. and leaders get set to get grilled on higher gasoline prices happy wednesday. it's all happening on this april 6th, and this is "worldwide exchange." well good morning, good afternoon, good evening, and welcome wherever in the world you are watching i'm brian sullivan let's check on futures dow futures down 0.3%, under 100 points, still down tech futures off at the nasdaq about 0.8%, all of this coming off a rough day on wall street that saw the major averages close down with the nasdaq ending down more than 2%, basically giving back all the big gains it made on monday.

up 2% monday, down 2% yesterday. it's likely because of higher oil prices and hawkish prices from a pair of officials including ones from lail brainard where she called for a, quote, speedy reduction in the balance sheet, end quote that spooked a lot of investors. that's a big-time issue. speaking of debt, let's get a check on the bond market the yield back above that of the 2-year do we call that inverting the inversion? i don't know the interest rates are bouncing back and forth in the oil market, crude oil, the one you're going the see on your screen is up a little bit, but it's actually off about a buck where it was this time yesterday. it was at 140 yesterday. so it was up a little more, came down at the close. so it's technically higher than the close, but is the dollar

barrel less than it was 24 hours ago? there you go and in crypto, weare seeing bitc bit bitcoin, ether down. asia fell likely on oil prices and parts of europe off by 1%. julianna tatelbaum has our trade and top stories in our london room julianna, good morning >> brian, good morning overnight as you pointed out, we did see some pretty sizeable losses for the most part, china markets reopening after the holiday weekend. the hang seng hong kong dropping about 1.9% the kai schenn services and the

government's zero policy which has restricted movement and hurt demand covid remains front of mind for investors. as for european markets, we're also seeing red. the cac 401%, the germany market, pulling back 1%. the swiss market, down 0.2%. concerns around the impact of sanctions front of mind. we'll give you a quick look at sector every sector is trading in the red. media had been trading positive, but even that up below the trade line clearly some are taking some risks off the table this morning. brian? >> a whole bunch of red on that big screen, julianna, thank you very much. let's get right down to a developing business story that

has to do with a fight over one of america's leading discount airlines silvana has more with that good morning. >> that's right. jetblue is throwing a wrench into spirit airlines' trade. the $33 per share offer representis roughly 40% premium and 50% on spirit's price on monday the bid from jetblue comes less than two months after spirit and frontier had agreed to merge into a discount giant which would have made it the country's fifth largest airline. jetblue says its board is evaluating the new proposal and pursue the course of action and determines to be in the best interest of its company. for its part frontier is defending its offer saying unlike the compelling

spirit/frontier combination, an acquisition of spirit by jetblue, a high-fair carrier, would lead to more expensive travel for consumers adding it is surprising that jetblue would consider such a merger at this time given the department of justice is currently suing to block their pending alliance with american airlines and robin hayes, ceo of jetblue will be on to discuss this merger at 10:00 a.m. eastern. >> big interview there silvana, thank you very much. we're just getting started we've got a lot to do on twhens. when we come back, spacex, the tesla founder, what elon musk's new role could mean for the stock and the fight with the s.e.c. plus, the rate shock hitting the housing market as mortgage rates hit 5%

diana olick breaks it all down we've got another busy hour still ahead. grab another cup of coffee glad you're up with us we'll see you in two minutes ys . the world needs you back. i'm retired greg, you know this. people have their money just sitting around doing nothing... that's bad, they shouldn't do that. they're getting crushed by inflation. well, i feel for them. they're taking financial advice from memes. [baby spits out milk] i'll get my onesies®. ♪ “baby one more time” by britney spears ♪ good to have you back, old friend. yeah, eyes on the road, benny. welcome to a new chapter in investing. [ding] e*trade now from morgan stanley. what if you were a gigantic snack food maker? and you had to wrestle a massively complex supply chain to satisfy cravings from tokyo to toledo? so you partner with ibm consulting to bring together data and workflows so that every driver and merchandiser can serve up jalapeño, sesame, and chocolate-covered goodness with real-time, data-driven precision.

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all right. welcome back let's get a check on your markets. after yesterday's big declines for big tech, some of that selling followed through this morning. we're seeing nasdaq falling off.

we gained on monday. everything looked just peachy. we lost more than that yesterday. we're down again what's changed in 24 hours not a lot. comment prices from the fed. otherwise everything else was kind of the same it was a fairly nervous market s&p laggards, you've got bristol-myers, alaska air, ingersoll-rand we're seeing pretty much any kind of group. tesla, tesla, alaska air, nothing in common nasdaq, the biggest yesterday that fell. pinduoduo's in the world, they were also some of the bigger losers yesterday bought one day, sold the next. that's wall street for you all right. making headlines this morning, twitter confirming it has been

testing an edit button nature on its platform, making a revelation of elon musk closed a stake in the company twitter's apparently been working onnen the feature since last year. hsbc officially diving in to the metaverse. according to reports, the bank launching a fund for investment opportunities in the digital ecosystem. and volkswagen pulling the plug on a number of its models in europe toconcentrate on its more profitable premium models the automaker's ceo says it will kuj the range ofby 60% over the orwi ehae"s ck "wlddexcng iba in a moment (vo) some bonds last a lifetime. some bonds inspire confidence, and some you grow to rely on.

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welcome back let's get a check of business outside. here with that and more is nbc's frances rivera in new york good morning. >> brian, good morning to you. strong storms are whipping across the southeast this morning. a third week battered the region with tornadoes and flooding. this one was caught on camera in

south carolina a woman was killed in georgia after her mobile home was destroyed, and a texas man died when a tree toppled onto his home. the white house is putting yet another freeze on federal student loan payments. the sixth time since the start of thecorona pandemic. and it would bring relief to students who over $1.6 trillion in student loans collectively. the golf icon, tiger woods, plans to play in this week's masters. he's set to play at 10:00 a.m. tomorrow he's up to the challenge he doesn't show up to an event un-lil he thinks he can win it, brian. we're talking tiger standards. regardless of everything he does, i'm sure every single step throughout the whole 18 holes will come with a different

perspective. >> it's good to have him back. the happiest are his folks and family, but the next has got to be cbs me thinks that tv ratings may have jumped 30%. >> i would agree with that. >> if not more than that i probably downplayed that one good luck to tiger frances, thank you very much. let's get back to markets and your money there are three key drivers for stocks right now inflation, the fed, and volatility so let's get a good game plan for you. welcome in cliff corso, chief adviser at asset management. cliff, good morning. inflation is bad probably going to get worse at least over the next couple of months what does it mean for stocks >> that leads to that second driver you were talking about, brian, which means it's going to continue to drive fed that's going to be falling further behind the curve and therefore

has to move rates up further and faster, and really that's what we're seeing the governor set off a fear and panic yesterday with the market sheet. those are the tools the fed is going to try to push what that means for the markets are our continued volatility around uncertainty dire rates, lower income, cash growth stocks, growth type stocks, probably continue to get discounted as rates rise. >> is there any part of the stockmarket that looks inexpensive to you, not fairly valued, cliff, but inexpense irv, given that multiples have now come down? >> yeah. we think the whole value sector of the market areas like financials and select financials, insurance in particular, p.e. ratios are very attractive the fundamentals for value

oriented companied are solid and they're also very defensive. in playbook, maybe we have to go back to normal inflation, not 70s but beered yous where inflation is rising, what has worked that's generally the income and value sectors of the market. >> yeah. and what do you make of the current outlook? i mean we've had guests on who've said, we just don't know what's going to happen normally it's pretty clear, but with the war in ukraine, with the rates where they are, the fed talking about a speedy reduction of its balance sheet, i'm not sure that the visibility, summer or fall, cliff, is that great what do you think? >> i agree with your last statement, brian i think it's going to be cloudy because we haven't seen inflation come off it's still peaking and, again, we see the fed that even though they've begun to move, the rate moves with a

one-year lag even if they go with 1.25 on the end of the year, higher than their existing forecast, that just averages the funch rate of 1.25 that's way behind the curve. i think we'll be sitting here in the fall trying to look for that clarity, which we might not be seeing i think the playbook is take a step back, look at an environment where rates continue to rise, inflation is sticky, and maybe we're in essence aging in that cycle. i think we need to look at that as we move further in time. >> cliff corso joining us on cnbc thank you very much. inflation, a big story thank you. let's turn now to a gentleman you may have heard of by the name of elon musk now admitting his big investment in twitter is not passive after all. did you expect anything else muffing filed yesterday shifting his state from passive to a

active twitter said he must not push his stake to 15% or more he began buying twitter stock at the end of january and purchased more in every available trading session through april 1st. let's talk what this may mean for richard cramer thank you very much for joining us elon musk, i presume, and i'll going to wildly speculate, you'll forgive me, is not joining twitter's board because he thinks it's a nice company. he's an outspoken person for freedom of speech. he's going to be very active regarding twitter's own self-editing of news stories this seems like it could be headed for some boardroom fights b wh fights, but what do i know what do you think? >> i think we have to separate

terrible gosh nance at twitter a few days ago it was trading below its ipo price and clearly had a number of technology initiatives that didn't pan out, and then elon musk's involvement. the simple question is what does he know about running a digital advertising business it's nice to say twitter ought to be more of a free speech platform, but obviously that might have consequences for advertisers that may not want to sit next to with freer speech that elon musk would like to see on the platform. >> what does that mean for the stock, richard i think you're right it's going affect how they -- they're literally deciding in some cases what they feel is news, and you don't even know at the company who's making that call, but that's a separate issue for investors.

what does this mean for the equity >> so i think it's not a separate issue for investor, and that's a mistake everybody makes, brian, and i want to correct that content moderation is the new tax on social media. he doesn't work on it because he thinks it's a nice thing to do it's an obligation that's something twitter has been a tax evader of for a very long time. that's why you see so much invective and hate speech so much on twitter. ultimately for investors, they need to contend with two issues. one is that there's going to be additional costs to manage the content moderation if you make it a speech free-for-all, and, second, you're going to lose certain categories of advertisers that don't want their messages appearing next to the freer speech that you've looked to snuff out of twitter. >> well, and -- but by free, i think i see your point, richard.

by free, you mean disgusting, sort of the hate, the abuse, literally targeted to a lot of female journalists getting brutalized in the media, we love twitter. it's sort of our daily pipeline. for most of america it's probably somewhat honestly worthless. people gonego on, they have nine followers, somebody wcusses the out, they leave. how does this fix the company? >> to say you've got an edit button is not going to fix it. it's going to be a full employment program for the wayback machine, who posted what, whether it was real and whether it was edited in a later stage. i mean it's just going to be increasing levels of chaos at a company which i think it's fair to say has been the poster child for sort of chaos monkeys as you

remember that famous silicon valley book. it's a company with a lot of failed fits and starts it's a company with a lot of -- if you're looking back at a five-year chart, you see all the volatility and, yes, it had a run-up with everything else intact but literally halved. as investors, you have to stand back and say this stock is more of a service than ever. >> we have to go, i'm sorry. twitter does not seem like -- it's a great device for the media and certain industries, but it doesn't seem like a viable long-term public kompany in many ways to the point you just made. >> i think if someone is going to buy twitter and take it private has to be someone who doesn't care about the economics of the business and doesn't mind they're never going to make a return on the investment that they'll make in it

>> almost like a public utility in some specific ways. richard, a great discussion. we'll have to do more. come back soon because this conversation, i think, is incredibly important to conversations around america richard, thank you very much appreciate it. >> thanks. by the way, if fink is the worst word i hear today, i'll take it. coming up t rate shock hits home literally, and the toll 5% mortgages may take on record-high home prices. and your morning rbi, on why one key part of the global supply chain has gone, quote, insane it's inside info you're not going to hear anywhere else. we've got it coming up

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fed and rate fears as higher mortgage costs and balance sheet columns are lower. six energy, execs take capitol hill. and spirit and frontier prepare to combine as jetblue swoops in with a new big off it's april 6th, and this is "worldwide exchange. welcome back, everybody.

thanks for joining us. here's how the markets look right now on this wednesday morning. we are seeing red on the screen. stockmarket futures all down across the board yesterday and we're going to see that selling, it looks like anyway, falling through. dow off, 112 and nasdaq a little more. what could be big oil fireworks on capitol hill because the house and energy commerce committees is holding a hearing called gouged at the gas station, big oil and america's pain at the pump scheduled to be questioned, and, no doubt, questioned at the hearing are ceo executives from exxon, bp, shell, chevron, and others they want to know why prices have stayed high even though there's been fluctuations. is this the right group to answer it? let's within in ann bradbury

it's good to have you on the program. i understand the american public's anger this morning at high gas prices, and the congressional democrats are making positive points about buybacks and record-high profits. how do you think they're going to respond to what is no doubt going to be a very public grilling >> that's exactly right. you know, i think the title of the hearing is a really good indicator about whether or not this is going to be actually a conversation about solutions to lower energy prices or more of an opportunity to score points, and i think it's the latter. i think you're going to hear from a lot of our companies that it's the shale revolution that's caused oil prices to be low and stable over the last decade and why americans have enjoyed low oil prices as well as the rest of the world that's because of key abundant

supply that's what we should be talking about. >> i think based on some of the prepared remarks of some of the ceos, they are going to say that in fact, we've got prepared comments from mike worth, the ceo of chevron one of the things he's going the say is, quote, i've seen statements in the press whether chevron and other companies are responsible for the oil and fuel prices i want to be absolutely clear, we do not control the price like gas and diesel and we have no tolerance for price gouging. i'm not defending them, but as somebody's father who owned a gas station when i was in los angeles, a lot of the companies being called they don't make gasoline i'm curious where the questioning is going to go. >> that's exactly right. prices are set by the global

marketplace. what you're seeing is a structural imbalance of supply and demand if we want to reduce energy prices for americans, we need to be talking about ways to get more domestic supply into the energy markets i think what you're going to see is a lot of false narratives put forward today about, quote, unquote, price gouging, price fixing, and other red herrings that are really beside the point and will absolutely do more harm than good and will likely drive up the cost of energy for americans. >> well, let's be clear. there are no doubt some corner gas station owners that are gouging. i mean they lose a lot of money at certain times they're going to make it when they can a lot of these gas stations are owned by one family, and there will be those who take advantage. i imagine the refiners are also making a pretty good amount of money based on the so-called crack spreads, et cetera

i don't want to get too into it. i'm not sure everybody on capitol hill, no offense to them, understands how the whole thing works. is there anything that these executives can do today that would assuage some of them at this hearing >> these exactly right, brian. what we need to do is to bring about more abundant supply and the way to do that are things like this administration sending a clear signal that american made energy is an important part of our economic security and our national security they can restart federal leasing to bring about more production on federal lands they can unlock permits on federal lands to increase production on federal lands. we can build new infrastructure.

many are infrastructure constrained and production is dampened when you can't get oil and gas to the market. we need additional infrastructure so there absolutely are things and policies that this administration and policies could be doing to alleviate these high energy prices unfortunately what we're seeing is more about political posturing and would do more harm than good. >> i'm surprised that you would suggest political posturing at a public hearing over something like gasoline prices please disregard my snark at 5:30 in the morning. anne bradbury thank you for coming on. it could be a hot day in washington, d.c. there were 47 lease sales. so far there's been one and it was blocked by federal litigation all right. back now to this morning's top corp story and jetblue throwing

a bit of a wrench in the spirit planned merger with frontier yesterday jetblue made a bid to buy spirit a bid from jetblue comes less than two months after spirit and frontier had agreed to merge to become a discount giant which would make it the country's fifth biggest airline. joining us is david. good to have you back on i. going to ask you a direct question to start. is spirit airlines worth that amount of money? you could j give away an airline a year ago. >> this reminds me of the '80s and everybody was dancing and there were fewer chairs. this doesn't surprise me is spirit worth it alone maybe not. but combined, you have to think

of the savings, the purchasing power with airplanes, and when you combine, that's where the value is, not necessarily alone. i'm a little bit surprised jetblue came out of the wood word on this one because the doj has been pushing back on their relationship with the americans and they're not quite like frontier and spirit. they all have the same fleets. those two issues are pretty much resolves frontier and spirit have sort of come pattive routes on the frontier effort in the west. jetblue is in my personal opinion a bit of an anomaly. they're a bit higher cost, and i think the doj is going to have some issues before it's said and done. >> do you think jetblue is playing offense by playing defense. in other words maybe they kind of want spirit, but they're probably thinking it's better if we don't let frontier have them rather than letting it be a net

additive to themselves. >> think about wall street if you drive up the price and the other guy has to pay more, he has to pay more i guess you could look at it that way you know, bill frankie has been involved with so many of these carriers over the years back in the days of frontier he's sort of an architecturalist including over the air i really do believe at the end of the day, the board wants to be a major player, and the best way to do that is combining all three. >> if i had posters in my office, david, of every failed airline over the last 40 years, i'm not sure i would have enough wall space from peoples to east to west, good grief.

>> as many as 200. >> i didn't know it was that money. does one plus one equal 2 1/2 in airlines is it about gate costs, jet fuel savings, see all of the above? what is it they get when they merge? >> they all have the same fleet and a lot of deals, so i would put fuel off to the side in terms of airport and gates, a lot of strength, purchasing power with airbus, a lot of strength with vendors and suppliers, and the combination, theoretically they're saying they'll save up to a billion dollars. that is true when you merge, there are significant savings and purchasing power add to that not just the fleet, but the routes very, very important that you look at the route overlap versus not overlap. spirit and frontier don't really overlap a lot. jetblue is a bit of a different story because they're east and

west that is a complication the doj will be involved in this one,k i can assure you. >> me things you're correct on that we'll see how this plays out david banmiller, thank you very much. by the way, do ntodo not mil lebeau's interview with robin hayes, jetblue's ceo. up next, will prices come down or will housing rent keep the prices afloat. diana olick is up next with that

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welcome back if inflation was not bad enough already, get ready the 30-year mortgage just hit 5% again, really the first time in more than ten years that has happened with the exception of an extremely brief period in 2018 that's up 50% from one year ago. as analyst of gordon johnson points out, that could double monthly payments for some new home buyers. diana olick breaking it all down i was watching cnbc yesterday. i saw you jump in. you broke the news years ago 5% would not seem like

a lot of money, but it certainly does now, especially with record-high prices what are you hearing about the impact of this >> yeah, especially as you say because of the high prices home prices are up 20% year over year in february, and the gains keep getting bigger. you would think it would throw cold water on prices, but prices lag sales. there's still crazy demand in the housing market, but at some point, brian, you've got to believe affordability's going to kick in, right >> i guess i'm going to show you a chart. it's 30-year rates versus the average rate you know this chart like the back of your hand, diana for your viewers, it's inverse as rates go up, prices go down and vice versa because people don't buy homes based on the price. they buy homes based on the monthly cost

but with rents so high, diana, i wonder, does it hold up because people have to live somewhere. >> exactly if you're paying so much for rent already, then you say, look, i could even pay slightly less there are definitely certain markets. like i say, all real estate is local, and in a lot of markets it's still cheaper to buy than it is to rent. that dynamic is changing pretty quickly. i want to say about these rates, i've got all the rate people calling me yesterday saying it hit 5% in 2018 for more than a week or it was really like 2011 that it was there. just touched it. but we haven't seen rates sustained over 5% since 2009 when i bought my apartment in a different century, my rate was around 9%. again, it's that home price and monthly payment. when you look at rents that continue to rise especially for

the single-family homes that families want, they want the burbs, they want to move out to the burbs. it's not just the monthly payments it's that a lot of people are not qualifying for a mortgage anymore because we're not back in 2005, 2006 where encanyone cd get a loan i have a cartoon of a dog holding up a paw print saying i'm ready for a loan you don't get a loan if you don't have that debt to ratio income, and the higher the rates get, the harder it is for a lot of people to get a loan. >> we all remember the ninja loans, no income, no job, no nothing, but you still got the

debt that thoswas the bad old days you've got inflation, groceries, gas at the gas pump, putin and ukraine. the housing market has changed probably like you, once in a while i poke around to see what is what and what my house may be worth. the only things on the market seem to be like the amityville horror house or a home over a sinkhole there's also a supply issue. >> there's a huge supply issue, a terrible supply issue especially for existing homes. what we are seeing is a supply of newly built homes start to rise that's interesting if you see that supply, builders are charging a lot their prices are way up because of land, labor prices, materials. but if builder prices start to come down a little bit, you might start to see easing in the housing market again, we have seen pending home sales, signed contracts on existing homes come down in the

last four months that's a sign you're seeing weakening in the market and that could pull prices back a little bit, but, again, prices have nowhere to go but up. and we're already at 5%. minus that one week in 2018. >> or two weeks. depends which one you're looking at. >> whatever. and what your credit rating is there are all these variables. point well taken a lot of our viewers may not care about the stockmarket, but they may care about the value of their house. coming up next, speaking of high prices, your morning rbi, something totally nuts happening in one key area of global business. plus jeff kilburg is here on how he saw the market comeback coming and where we're going from here. and celebrating financial literacy month featuring some of our cnbc contributors. here's what our francis dell

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time for your morning day. big oil tankers and shippers and how much it costs to run one of these beasts because this is random and definitely interesting. according to a ship broker i spoke with yesterday, the price has, quote, gone nuts. we're seeing the highest tanker

costs ever i confirmed that with another analyst. check this out according to a broker source, some are charging up to $80,000 per day. compare that to last year which he said was closer to $15,000 per day on those same routes put it another way, the cost to ship oil and other liquids has gone up more than 400% he said these costs will continue for at least a month. he adds, this is not simply because of the war or spr release. yes, that play as role with panic buying of diesel fuel or other oil that russia makes, but global demand is great right now. why do they think this because the biggest demands are for the longer shipping routes so it's longer, more global routes now, tanker costs are just one part of the global energy supply chain but a very important one

and it may signal that diesel fuel costs already sky high are about to go even higher. it's this type of complex where it's going to be frustrating for members of congress. some are going to be grilling six ceo oil capitalists today. outside of paying more for fuel costs, the big spike in rates might go right to their bottom line we don't know. only time will tell. but it's a heck of a largely untold story and just so, if you're interesting, some tanker stocks you might want to keep an eye on are neuronav, skorp yeo, and frontline, we certainly will be. report we bring in our friend jeff killburn as we said, jeff, this is what

it sounds like when the doves cry. lail brainard now has turned into a hawk. how aggressive do you think the fed is going to be to see brainard really come out with all due respect to her in her position as first position to fed chair jay powell, where was she? where was she in q1 of this year i think it's a little too late, a little bit reckless to talk about this after a 100 basis point move on the ten-year note. now we're at 2.6 so maybe this is the top tick for inflation because of the doves crying or panicking, but i think it's an absolute capitulation and we'll have to see how she talks about running up that balance sheet. we knew that was coming.

sully, their balance sheet is borderline gross the bottom liquidity market is gross. if they pull back at $100 a month, they're still going to be at $8 trillion when they ring that new year bell for 2023. a lot of rhetoric, job owning. markets did not like it, no doubt about it i stay up at night when i talk about 2.5% i think it's short-lived, but it's bothersome to any home buyer or to anyone who has anything tied below it. >> the fed balance sheet is not quite but what is it it's not quite double the annual budget of the annual bunt of the united states and it's overseen by officials it's terrifying if you think about it a lot of people may not own stocks, but they probably own a house. i mean are you worried about the macro economy from a home and inflation perspective?

>> i think it's different this time, sully. you've never seen u.s. households in a better position. owning stocks or not, we have seen debt to income at the lowest it's been in quite some time i really do believe we're in a pretty good position from household balance sheets so, yes, it is alarming. i think it's okay if you have a little bit of a cool-off, but the ten-year note, i don't think the fed can allow this to stay any higher i know there's a lot of newly anointed bond experts rolling out every day or every hour, but i think the fed is going to be in a bit of a position here. the only thing they have going on their side, i think inflation actually begins to abate we really are seeing a global economy. i know asia is still in some lockdowns, but we're seeing the reopening. i see people travel, spend on services. >> for now for now. >> for now and to your point, everybody was a financial crisis expert in

2009 i lived through that one as well you heard stockmarkets can and do go up it doesn't kill the market economy and stockmarket are two different things. >> it does historically speaking we have seen some form of recession. it's different this time we've never seen this balance sheet. we talk about the massive amounts we have on the balance sheet. what we see and what's going on with the vix, we've seen nerves calm down. we saw a snapback at the end of march and resistance it's important to have diversification in your portfolio. look at the etf. that's the minimum vol these are kind of boring stocks we don't talk enough about think about kroger, procter & gamble, johnson & johnson, and berkshire hathaway i envision earnings will give us

a lift, but this will be a bumpy road for today and the rest of the week and we digest some of these really hawkish words. >> usnv. i think boring is the new sexy i personally am counting on it. >> boring is sexy. that's you, baby. >> i'm justin bieber minus the talent "squawk box" is up next. we'll see you tomorrow morning take care.

good morning feds speak

stocks drive lower in yesterday's session. we'll get you ready for today's minutes. elon muffing has been buying twitter shares on almost a daily basis since the end of january and that reveals how much he spent on the stock. and a bidding war. jet bblue stepping in to buy spirit it's wednesday, april 6th, 2022. "squawk box" begins right now. good morning welcome to "squawk box" here on cnbc we're live on the market side from times square. i'm becky quick along with joe kernen and andrew ross sorki