it is 5:00 a.m. here at cnbc here is your top five at 5:00. we begin with a major market reversal assessing fed risks and sending stocks on a wild session yesterday. they say everything's bigger in texas elon musk taking that to heart during a model wide rodeo at lone star gigafactory opening. and the comment on the enemies of crypto echoing all over wall street

his comments on "worldwide exchange." and unrest at twitter. elon musk appointed to the board of directors. and tiger woods at augusta a live report coming up. it is friday, april 8th, 2022. you are watching "worldwide exchange" here on cnbc good morning i'm frank holland in for brian sullivan happy friday let's kickoff the hour with the connect on the markets and your money. green across the board dow jones industrial average and s&p and nasdaq indicating .50% higher this follows the comeback from yesterday. the dow erased 280 points loss to end the day higher by nearly 100 points for the week, the dow and s&p and nasdaq with steep losses

nasdaq down 2.5% check on the bond market we begin with the benchmark 10-year yield. above 2.681. we are watching that as it ticks above the 2.5% left. oil markets are trading higher wti still below $100 a barrel. crud is at $100. the cryptocurrency conference in miami. ethereum is up 2%. we will have more comments about crypto and the cryptocurrency haters let's check on the action overseas with julianna tatelbaum in london newsroom >> good morning, frank we have a decent rally stoxx 600 is up .90%

we have come off the highs of the day. a bounce back taking shape coming into the session today, nearly every major was lower on the week we will see if we can get gains to turn the week around. on that note, let's look at the regional split one out performed this week. ftse 100 in the uk the index which is overexposed to oil and gas has performed well it is up appoints 90% we have green across the board from a regional perspective and sector travel is the under performer this morning i'll take you to the best perf performers chasing them around. oil and banks are the best performers in europe

the move to the cyclical sectors. frank, back to you >> julianna, thank you for that check. let's get a check on the top corporate stories with silvana henao. good morning >> frank, happy friday not one to hold his bpunches. pe pe pe peter thiel came out swinging on the crypto enemy list. >> enemy number one. i think he -- i think sort of the sociopathic grandpa from omaha, you know, is perhaps the most honest and most direct in it >> and after buffett, he targeted jamie dimon and larry fink highlighting their comments on bitcoin with the word

gerontocracy in bold print behind him. amazon will appeal against the union organizers in new york the company says it has issues with actions taken by union leaders before and during the vote this coming as another union in alabama is alleging amazon illegally interfered with elections there creating what the union calls an atmosphere of confusion, coercion and fear which negatively impacted employees freedom of choice to join or reject union status. and twitter plans to host elon musk for an ask me anything forum. this comes days after being appointed to the board of directors and amid internal concern of the role with twitter and impact it could have on the company's culture and staffers

day-to-day lives the washington post reports that one employee asked on slack if board members would be subject to the likely hr investigation that would result if an employee tweeted some of what musk tweets frank. >> interesting questions from the twitter staffers >> you got it. turning attention back to the broader markets. days from the kickoff of earnings season. banks lead it with jpmorgan chase on wednesday and followed by citi and goldman sachs on thursday your next guest says the banks could be set for a bounce. anna han is the strategist for wells fargo. >> the attention is on banks it is the first thing to report. >> we are paying attention here, anna research finds the s&p banking index is trailing the s&p by 12% since february

looking at the bank etf finishing down yesterday you report earnings as a catalyst for a bounce. we we expect to see more confidence in the banks >> it will be a story about not as bad i think with the fundamentals that we have seen with banks in the within the last couple months, but pre-pandemic you see the balance sheets strong and earnings growth has potential here what has been difficult for banks and particularly here when you think about global growth slowing down the cyclical cycle slowing down. the number one thing that gets hit here is in the financial sector bigger picture when you think about it it looks oversold. that's why in the more weeks to come, i think you will see potentially a bounce it is very historically traditional to see he that rates have a not great response to

earnings in the first five days or the one big response. take it as a little bit longer than that. look one month or longer i think you will see a give back there particularly for the banks that did not do welling going into the earnings season >> let's talk about this a lot of pressure on the markets. three most talked about topics on cnbc this week. inflation, gas prices, just so many things weighing on the markets. recession fears. what will happen in the banks earnings reports their forward guidance to turn things around? >> we say bounce, but it is more we will not take that one view we will not take a five-day view it is not for the day traders, but the institution side what are the earnings? i think there is a longer-term picture here at the same time, let's step

back from that not just banks in particular think about what is the economy he doing here? is the economy going into a recession? something we talked about with clients. recession vote may have increased. is it so much that the risks are pivoting away from the cyclicals? not kwyet. we still want cyclical exposure in the portfolio >> anna han, thanks. coming up on "worldwide exchange." some names that might be oversold and why elon musk's rodeo and the outlook for 2022 and beyond. and later, the bullish bet on transports despite the bear teity.rror we have a busy hour ahead on

"worldwide exchange. stay with us

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for the nasdaq the nasdaq still down 2.5% for the week check out the struggles with the tech names microsoft down 2.5%. alphabet and amazon down 3%. let's bring in james cakmak. james, great to have you here. james from clockwise capital >> there's a lot here. the fed doesn't actually have any monetary policies to help with the problems we have which is inflation caused by supply chain constraints. anytime you have a traffic accident and clear out the accident, it takes a long time for the traffic to clear up. i think that analogy applies to

the world with the pandemic closing and opening back up. the problem with tech is not so much the fed, but a version of the growth rate of the pull forward with demand and now huge deceleration. there is just a lot of uncertainty as to where the growth rates will land once we get to the earnings cycle. >> james, you are ready to go right out of the gate. this is a contrary opinion most people believe it is interest are rate and valuations you arie saying those are lesse factors than the supply chain? had. >> i think the supply chain is the primary reason for all of this how can raising rates solve the supply chain problem it can't the fed has monetary policy to combat inflation it cannot combat opening the

supply chain >> when you say supply chain, how much is chip versus the regular supply chain we think of moving goods and freight >> it is everything. we shut the world down for many months opening it back up trickles down everything from energy costs to chips to dishwasher that you are looking to buy for your home it impacts everything. the war exacerbated things on the energy front at the end of the day, this is supply chain driven. i think the risk with the fed is that we have so much mixed messages as it relates to is it passive balance sheet reduction or redu reduction? you listen to different fed members and you get different opinions and you have the minutes released our point is our investment

colleagues on wall street is that the fed made a mistake -- anytime you are active, you increase the likelihood of making a mistake. >> james, we have a couple seconds left growth rates will decline. how can the growth rates for tech stay the same now we're out and about? we will not be on the peloton or zoom calls as much >> growth rates have started to come down. that's why people have been nervous about what is the new normal are for the growth rates? our case is the secular win wiwith are strong i think you will see a react sell ration back to what the growth rates would have been pre-covid and higher because the world has changed and it will not go back. >> growth, but not the growth people want to see

james cakmak, i appreciate it. thank you for being here still on deck on "worldwide exchange." round one of the masters in the books. tiger's place on the leaderboard and the update from augusta national coming up next. 97% of ameriprise clients say they feel like their advisor cares about their ability to achieve goals. ameriprise financial. advice worth talking about.

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now time for the check on the other headlines. frances rivera is in new york with the latest. >> happy friday, frank let's start with covid coming back across the country. cases up 2.9% across the last few weeks. in d.c., nancy pelosi and susan collins tested positive and the press secretary michael laroso and sarah jessica parker was diagnosed with covid this week. and two more black coaches joining the lawsuit against the nfl. brian flores filed the class action suit accusing the teams of paying lip service to hiring

rules. steve wilks and ray horton joined the litigation. wilks claims he was hired as a bridge coach for the team. horton said he was put through a sham interview to satisfy the rooney rule to require minority candidates the nfl declined to comment. auctioneers were sure to assemble for the comic book. the first appearance of "captain america" in the auction which sold for $3.1 million. it is one of the top five expensive ever sold. it came out the year before the u.s. entered world war tii it is in mint condition and great shape. whoever owned that, frank, can you imagine it is worth that much under lock and key and glass enclosed case and everything else >> frances, you are talking to

an avid comic book collectors. all mine are in plastic. i'll consider the glass option >> plastic is better than nothing. >> happy friday, frances. turning attention to augusta where day one of the masters is in the books he may not be atop the leaderboard, but tiger woods is all anybody is talking about jay gray is joining from us augusta. it's dark out there, jay a lot of tiger talk. >> reporter: yeah, no question, frank. good morning to you. we're still a way away from sunrise. crews at augusta national blowing leaves and getting it ma manicured for round two. one of four championships reserved for the best in the game 90 elite golfers invited this year the focus is on one of them. thousands of fans or patrons here crowding the first tee

some areas 15 and 20 deep. >> now driving tiger woods. >> reporter: reheintroduced to h man who dominated and defined golf the fluid swing and focused glare and fist pump. you can almost forget the car crash. tiger woods wondered if he would lose his right leg for most, just being here would be enough. not for woods. >> i figured once the adrenaline kicks in and i get into my world, i should be able to handle business. >> reporter: business is good for the five-times masters champion one of the best opening around here finishing 1 under par not in the lead, but not far behind even with some mistakes. >> a big swing in the trees. >> reporter: and still questions about whether he can walk four miles four days in a row on a surgically repaired leg.

>> lots of ice >> reporter: between rounds to keep him going for those who think of golf like a religion, on the sacred grounds of augusta national, wo wo woods' comeback is nothing short of a miracle so after a morning start yesterday, woods is scheduled to tee off at 1:40 this afternoon this gives him extra time to rest and rehab that leg. >> certainly two questions, jay i saw you at the super bowl one year and you were outside grilling bacon what are you grill today what should we watch for as tiger tees it up >> reporter: yeah, there will be no grilling here at augusta national it is a very prim and proper place with pimento sandwiches. for tiger woods, we have to see how his stamina holds up

he had a little hitch in his get-up yesterday today, the second day of walking and changes in elevations at augusta are dramatic you don't see it on tv there are huge hills he has to climb. so seeing him get through that he said golf may not be the problem. it didn't look like a problem yesterday. he was really hitting it well. the problem may be just his physical ability to maneuver around the course. moving forward, that's the key to watch also, the winds are expected to be up this afternoon that will play a part in his game and in that traveling around the course. >> absolutely. expect to be a wet course, too tiger watch continues. jay gray, thank you for the la latest. still ahead on "worldwide exchange." 0 to 60 in two seconds how major x-men vibes are coming

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fireworks, roadsters and model ys >> we need a place where we can be really big. there's no place like texas. the hat and glasses. >> elon musk going bigger in

texas with the gigafactory opens up. apple stepping up to the plate when it comes to streaming sports an opportunity for cupertino details on deck. some say it is a warning sign of a coming recession my next guest is sticking with the bullish bet on transports. it is friday, april 8th. you are watching "worldwide exchange" on cnbc. >> welcome back. i'm frank holland in for brian sullivan it is 5:30 a.m here is how stock futures are looking. green across the board all three indexes looking to open .25% higher these are all coming off intraday highs yesterday start of the day in the red before finishing the day in the green. big turn around. in it fact, 20 stocks in the

russell 1000 gained more than 5% from the intraday lows yesterday to close in positive territory these are names you know one like wayfair rallying 8% off the low to end the day up here with an 8% gain. rallying 6% with a 1% gain big turn around with the russell 1000 let's look at bonds. right now, the 10-year ticking up about to 2.68% on the yield one last look at oil wti still below $100 a barrel. oil on pace for a 3% decline as the u.s. releases the reserves. and other top stories and fireworks as tesla's factory in texas. silvana henao is here with more. good morning

>> reporter: good morning. that's right tesla's ceo elon musk holding a cyber rodeo at the texas factory last night in austin, texas. celebrating the first model y deliveries from the plant driving in on the original road roadster musk said this year is scaling up and next year is all about a wave of new products musk has high hopes for texas to play a very big role in that effort >> branding with the model y program alone to get to 500,000 units a year we will start manufacturing cyber trucks here next year. the model y line is the highest capacity line, i think, of any line in the world. 500,000 units a year in a single

factory of one product is the biggest in the world >> reporter: musk also commenting once again on the cyber truck. promising to have it ready for production next year, frank. lots of buzz >> silvana, thank you. turning attention back to the markets and the transports off the first winning session and still down 6% on the week. on pace for the worst performance since january of 2021 the index now off 19% off the 52-week high some pointing to under performance as an early recession indicator. some lags include jetblue. joining me now is donald broughton. >> good morning. >> i want to get your insight on

transports third week in the red. before we get to whether or not a recession indicator, why is there weakness in transports >> there is a difference between weakness in the stocks and goods flow we see things to worry about interest rates rising. fuel go up we see reasons for negative sentiment. frankly, it was a bullish sentiment we he come off a bit those types of things set the stage for the stocks to under perform. we always focus on the goods flow >> if you are seeing sentiment cool, that is a euphemism. as you mentioned, the good flow is still pretty good rates are down year over year. volumes are down year over year.

that's expected. >> rates are not down. rates are up the rate of increase has slowed. >> right that was my point, donald. down percentage wise, but still well over pre-pandemic rates volumes are still over pre-pandemic levels. why doesn't the street understand that? >> the street is emotionally swung things back and forth. the axiom in the long-term is a way mechanism. >> i'll ask the question everybody wants to know. are transports a reliable recession indicator? >> they are when they are listening to the goods flow and the business they actually do it the stocks themselves overpredict. the underlying goods flow they rely on is steady eddie.

great predictor of recession and recovery the current scenario, the goods flow is predicting up and to the right and continued strong growth throughout most sectors some sectors are accelerating. industrial segment oil and steel. it is en fuego right now >> these guys are talking out of both sides of theiri mouths. three weeks of declines for the transports is that a sign of recession or do you need a longer horizon >> it is not the underlying of the stocks, but the reason for it what is happening in this case is confusing signals for those not following all of the undeun underlining things

diesel at $4 to $5 a gallon. you see a share shift to domestic truck and derail and truck. those providers like jb hunt can pick the load up and put on a rail and charge you up to 95% of the fuel surcharge, but not pay for the additional fuel. volume goes up and profit goes up loads get moved and the economy is ripping and roaring they are making more money and people who lost the load are making less. >> donald, we have to get a couple of stock picks from you can you give us a stock pick from rails and trucking >> jb hunt they have more volume. they make more revenue per load and large explodes per load. the stock is unduly punished because of the transports. they come in and indexers come

in and holds the stock the transfers are going down i hate to tell you, indexers, not all are created equally. the stock down 25% it should not be it should be up. they print earnings up on the 18th of april. in a few days, we will get information on that one. and rails with union pacific and un norfolk, they will benefit from the shrink of the industrial america. >> donald, i'll give you a new title. transports guru. thank you for being here. >> good to see you. turning attention now to sports apple making the first streaming sports with major league baseball kicking off with a double header live on apple tv plus. steve kovach has more.

>> good morning, frank apple tv plus tonight will stream the first two of the weekly friday double header mlb games. exclusive games on apple the tv plus you might think i don't have apple tv plus. it is free for anyone to watch you don't have to pay the $5 a month at first apple is not saying how long this will last if i guess, they will wait and see how many people tune in before they decide to charge us. it is not an apple thing if they don't put their shine on it. it will be integrated with siri for stats and teams. and cool with sink syncing with the walk-up song and we know netflix has been

allergic to streaming and now these companies are finding ways to get to exclusive games. you have to tune in and sign up and this is a subscriber generator. espn has a streaming service and peacock has sunday morning games. you have nfl sunday ticket which is going to be bid out by tech companies with unlimited deep pockets and money to go against the traditional networknetworks >> nfl sunday ticket is the golden goose i have to say i'm not a huge baseball fan i like to go to games. i almost never watch them on tv. the average mlb fans are over 50 years old. why is it so important for apple to bring these people into its ecosystem and what does it mean for baseball fans? >> i will have to bring that

average down to 36 as a baseball fan. what this strategy here for apple is they want to sell more iphones. we know coming up this fall, they he they will have a service with the bundle services. in the same way amazon has amazon prime and music, apple is doing the same thing it is a cherry on top of the normal subscription service. >> steve, the youngest mlb fan thank you. coming up, the real story on new york real estate hint, it is expensive. first, as we head to break, top stories. meta will have to face a shareholder mandate if the metaverse is good for society

the social media company asking for a third party valuation of the psychological and human harms for society. it will be voted on at the annual shareholder meeting and it will unlikely pass because mark zuckerberg is the controlling shareholder. and warren buffett making $650 million on the purchase of hp and jeep wrangler with the concept car. the wrangler magneto 2.0 goes from zero to 60 in two seconds the earlier version took seven seconds. "worldwide exchange" is back after this

welcome back record real estate sales the first quarter of 2022 saw the highest surging past pre-pandemic levels. this is despite rising inflation and prices and many not returning to the office here to talk about the sales is

stephen kliegerman stephen, thank you for being h here. >> thank you, frank. >> my colleague robert frank reported 19% increase in sales prices year over year. big jump for all apartments. i imagine a sillmilar sales increase who is buying these apartments >> with all of the wealth built the last couple years, we are seeing a tremendous number of empty nesters coming to the manhattan market for themselves and helping their adult children purchase as well in addition, we're seeing the return of the foreign pebuyer. the chinese buyer particularly the duerbuyers from the medical field and tech field you have a lot of people who sold homes in the marketplaces during the pandemic and now want to live in manhattan and have a second home in the hamptons or

in florida we are seeing buyers from all sectors and exuberance in the resale markets >> average price we showed almost $3.6 million. nice parents one thing on the rise is the manhattan rent up double digits how much is increasing rent a catalyst for people just to decide to buy? >> rents for dormant buildings are up 20% over 2019 that is pushing people to the buy side the rental market has a 1.5% vacancy rate which is a zero vacancy rate buying is more attractive and a long-term great investment >> you shared stats. two bedrooms are the most popular size units if you move from two to three bedroom, the price doubles why are two bedrooms the most popular?

>> that is popular because the three bedrooms are almost double the price of a two bedroom two bedroom is great for rentals and expansion and young couples and families starting out looking for a future opportunity to stay in their home longer also with more people working from home, people need more space. a lot of the two bedrooms are not used it is used as a one bedroom and home office. what we see is people are planning for the future. they don't want to be sized out of their home. they are purchasing something with longer term aspects >> one last question how long do you see the increase in prices and huge demand lasting? are we going to go back to pre-pandemic levels? >> i foresee prices starting to stabilize. the demand will be there for some time. part of the reason for that is during the pandemic, very few

i units were planned our inventory dropped to a shadow inventory in manhattan. the lowest inventory we had in years. due to that, demand will continue to be strong. prices stabilize slightly as prices continue to stay down right now, manhattan is back it's strong. i foresee a very strong next couple of years for the sale market you will see parity with buyers and sellers. >> stephen kliegerman, thank you. on deck, jon najarian will join us for the market signals find out what is flashing and why it matters and if you haven't checked it out, check out our podcast on spo spotify and other platforms. here is our update on

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welcome back to "worldwide exchange." the futures right now in the green. at this point, the dow could open up 100 points higher at this point we know how volatile the markets have been. looking to close out a rocky week the s&p and nasdaq looking to break the win streaks. for more on the trading day ahead, let's bring in jon najarian founder and cnbc contributor happy friday, jon. >> to you as well, frank >> we have been talking about it for weeks. the russian and ukraine war of the major conflict >> we talked about crude oil and natural gas stocks which sky rocketed and plateaued, frank. they passed the baton to uranium

stocks that is alternative to fossil fuels. we have seen ccj with a lot of activity right now, we are seeing a lot in uec which is another uranium play it is $5.40 stock, frank they are buying the april 5 calls. these calls expire next friday, not today. slightly in the money call they bought the equivalent of 8,000 shares that is another bet on uranium continuing to move higher as germany, who will quit with its nukes by the end of the year, will now compete for the uranium stocks so they can continue to light up that country. >> really bullish call buying here how long do you see this action sustained? we don't have a lot of

visibility into how deep these sanctions could go or how long the conflict could last. >> true. one of the things we have said all along, frank, has been when we are looking at the sanctions and the war itself, of course, if the war were to mercy ifully stop, it will not stop i think the prices will push and remain higher because sanctions will likely stay in place. that means competition for everything from mined materials to uranium to crude oil and natural gas which will continue to move higher that's my bet. obviously, everybody that is putting down the bets has similar outlook. >> let's talk about the actions and options and materials space. i don't think materials are generating a lot of options action one area is nickel a lot of nickel from the russia and ukraine region

talk about the call buying you are seeing there >> nickel is something that russia is the number one from du producer in the world of nickel. frank, nickel is necessary for the lithium ion batteries. you can't make them for tesla or anybody else nickel is just as important. if russia is cut off from delivering that, they will only be selling it to china and india. the second biggest nickel producer in the world is vale. that is showing strong activity in the calls out to may at the 23 strike and that was when the stock was little over 19 the stock has been moving up still predicting that the stock goes considerably higher mainly because of those nickel reserves that people are so anxious to get a hold of now

that russia is cut off >> you also look at steel. you are seeing a lot of bullish call buying for cleveland cliffs >> yes clf. we saw 35 calls yesterday. bought, bought, bought that was with the cleveland cliffs at 31 they are a full service. they go out and mine it and turn it into rolled steel cleveland cliffs is a $4 rally in the next three or four weeks into that may expiration that is bullish, frank bullish for the industry supplying more steel because demand is that high. >> jon, we have to get out of here quick take on the market day ahead after yesterday to close out the day. >> i think a lot of it for the remainder of the week, the next six hours of trading, is the 10-year note we saw a fast jump to almost

2.70% for the 10-year. if it stabilizes, that is something the market will take note of. it doesn't want "it" the market with higher rates this quickly maybe a plateau will cause the markets to stabilize more. >> jon najarian, thank you it does it for us on "worldwide exchange." "squawk box" is coming up next xfinity mobile runs on america's most reliable 5g network, but for up to half the price of verizon, so you have more money for more stuff.

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good morning wall street ready to close the book on another volatile week of trading and the fed remains in focus. the crypto enemy list. peter thiel calling out buffett and dimon and fink. and ask me anything.

twitter welcoming elon musk to the board and inviting employees to to a q&a session it is friday, april 8th. "squawk box" begins right now. good morning welcome to "squawk box" here on cnbc we are live from nasdaq market site in times square i'm rebecca quick along with joe kernen and andrew ross sorkin. you see green arrows ars on thew the ten-year was the highest since march of 2019. yielding