\s 5\s 5am \ it's 5:00 a.m. at cnbc and here's your top five at five stocks, record high prices, stocks trying to make a comeback today. at the fed, two central bank chiefs speaking out, calling for more aggressive action to contain these prices. and new legal action over the media company. trying to keep the power on in boston. a cnbc first conversation, the ceo of the company bringing natural gas to new england in a

very interesting way. and your morning rbi is back and asks the smartest people in the room, you, what's the real reason for inflation and it's an answer pc is not going to like. it is wednesday, april 13th, and this is "worldwide exchange. good morning, good afternoon, or good evening, wherever in the world you are watching i'm brian sullivan let's jump right in and check on the markets and your money, right now better looking than the last couple of days. stock futures are higher, nasdaq up the most, just under 1% nasdaq and dow futures all higher on tuesday the stocks did initially rally after the red-hot inflation data, then they all lost steam and finished

slightly down as higher rates and china lockdown hitting stocks it looks like it may turn around today. on the back of the cpi number, the 10-year benchmark is high earth 2.77% and now more back above the 2% yield so tin version no longer inverted, in fact, kind of going in the other direction and the oil market, up above higher in europe as china does ease some covid lockdown rules remember, it is china's lockdowns that have been driving the oil prices down for the past couple of weeks. in crypto, bitcoin is higher as well it's back above 40,000 toer so a lot of green on your screen what is going on in europe and other parts of the world the good news is we can find out. we can go to julianna tatelbaum

in our newsroom because she knows. good morning. >> brian, good morning i'll do my best to let you know what we do know. we've got a mixed start to the trading session. a little bit of green, a little bit of red on the boards we've got earnings focused today. so the cac 40 in france performing pretty well this morning, up about 0.2% we've got the luxury giant reporting solid numbers after the close yesterday. still some uncertainty with regard to the china outlook. obviously the covid situation a key factor there ftse 100 trading higher. and fresh inflation shows that inflation continued to accelerate from february to march. the swiss market contributing a little lower, down 0.3%. this is the picture.

at the top you have oil and gas up about 1.1%. on the downside, retail down 1.6% travel down too. >> literally split the difference green on top, red on the bottom. julianna, thank you very much. now to this morning's top stories as the east commerce company face as strike by some of its sellers bertha coombs is here with that and more this morning. good morning. >> hey, good morning, brian. he's standing by his strategy and backlash over sellers and a new fee increase josh silverman says while the recent decision to raise the commission it is charges on each transaction from 5% to f.5% may be unpopular with sellers, lit help them in the long run. the revenue from the hike will

be used d attract new buyers and compete from apple speaking with cnbc on tuesday wood receive d arc had been backing down. the said twitter will face math distractions with or without elon musk's decisions following his decision not to join the company's board. and the st. louis fed board says it's unthinkable that they can tackle the trade the fed needs to be more aggressive in its efforts to come back inflation, calling for rates to rise to a point where

they actively curtail growth and brian bullard says the fed's credibility is on the line if it does not take appropriate action they're already behind the curve. >> i would go one step further, bertha i would love any journalist to ask fed chiefs what did you do to cause inflation how about what did you do to actually create it, but i guess that's a different topic bertha, thank you. >> that's a whole different conversation. >> oh, yes it is we're going to fight what we helped create. interesting. let's stick with inflation as markets brace for another refund on yesterday's consumer price index at a 40-eer high today comes out what manufacturers, not consumers, are face it's also expected to show a jump

but there is some growing belief in the markets that just maybe inflation may have started to peak, and if so, what does that mean for your money? let's bring in malcolm etheridge. he is the executive vp and cic wealth good to have you back on the program. do you think inflation maybe is peaking right now, that is the max? >> i saw that. 8.5% was the number and folks being quick to say this has to be the top and we have to be at a point where we can say that we've gotten to where inflation is going to get to, and so if we just hang in there, hang tight, you know, things are going to get better soon. i think it's tough to say that simply because a lot of the same factors that attributed to this peak inflation if you will, have not quite abated if you will even if 8.5 persists, it's not

like we got to the top and we're going to climb back down if we hang out for quite some time, it's still going to hurt. >> i think it's already hurting. i would ask consumers if anything they've bought over the last year has risen by 8.5%. they'd probably laugh. there's a difference between the economy and the stock market and you think even with inflation, inverted yield curves and the possibility of a recession there are companies that are going to prosper in part because of the way we havechanged the way we shop and the way we do business. companies like warehouse contributor pro lodges. >> yes

et the supply chains having issues that they're having means industrial landlords have a much better chance of negotiating than owners of other commercial property such as malls and offices. in the market for zril landlords, those guys are doing everything they can to avoid offering long-term leases to their tenants. we see it as a strong sector despite what happens the rents are going to keep going up amazon has convinced us that one or two days is all we should

expect for a package to arrive at our front door. >> malcolm, i can't waita day. i want to buy it today and have it left on my porch in the afternoon. by the way, amazon is already doing. they're breaking out advertising numbers for the first time holy mackerel. every time you think amazon is big, it shows you bigger than you think it is. >> am mon decided to break out the ad revenue in last year's numbers. i think it was $30 billion in numbers. additional capex numbers that were impressive as just in congress, it's more than youtube does it doesn't have nearly the same headwinds as congress advertising antitrust issues as

google does. we're looking for them to increase theirs by and andy can be seen as a prelude than the amazon numbers than maybe some sort of a spin-off which we believe could be is greejs to shareholders it's almost as much as the retail business does on its own or the value of the retail business. >> it would be amazing, gus. people are talking about breaking up amazon, makie ing shareholders more money, maybe two or three thank you for getting up early take care. >> we are getting started.

why american farmers are furious with some shipping companies which they sea is conservatorship. plus china, and lockdown in shanghai as residents struggle just to eat. plus a company bringing power to boston in a unique way. is it ready to go public a ceo which celebrates energy exclusively ahead. wonder woman... serena... wonder woman... serena... wonder woman. ace. advantage! you cannot be serious... get your tv together with the best of live and on demand. directv stream. now get $30 off over 3 months. want more from your vitamin brand?

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many people without food, children being taken from their parents to covid isolation camps and household pets being put down in the streets. the residents are trying to push back, but the communist government is promising more punishment is there any sign that some of these very tough lockdowns are easing up at all >> not significant signs, brian. right now the shanghai police have designated the following as crimes so these are criminal offenses, leaving home in a high-risk area, refusing to take a covid test and posting what the police would deem to be fake information about the lockdowns, and this comes after the cyber watchdog yesterday nationwide had warned that anyone who's posting or reposting information or videos of it dime as illegal

is committing a crime. this threat of punishment is as case loetded hit a record. the president backs the beijing zero approach. he saying zero growth is the best high and shanghai can get as close to zero as possible and his administration houses people and lives first. there's been a big cost increase the data has really dropped. this is the first decline we've seen on -- since 2020.

>> most americans would agree case counts are not a metric we want to follow they're not the main metric. hospitalizations and key numbers aim a -- the 2 cases were today. 95% of the indications were asim tomt ma'am ing and surprised to learn they had covid maybe these lockdowns will never end. >> not very vocal people there are some epidemiologists who have raised it in the past, but mainly the chorus is that china is going to stick with zero covid

we heard about a pilot program t that's coming out. the main reason is they want to manage the costs and the shortage that they're seeing in quarantine beds. not necessarily that there's an easing going on. people are surviving and i wanted to pull it a black marriage system these. if you have a can of coke -- you can buy 5 eggs, two aaa batteries, five roles of toilet paper, or besievess it

there's real concern people don't have enough food. >> and those fears have come to beijing. people are tense here. they're tense around the country. we're seeing hoarding, stoc stockpiles this is a serious matter even if it's in shanghai, people are watching what happens there and if these regulations are going to button out to the >> right if part-time are walking rimt ever it's a terrifying situation and i hope it does not come to bea

sheng. hope elon musk taking a new fern, facing a new crisis. oil back up to nearly $100 a barrel and we're back right after this stom fit orthotics use foot mapping technology to give you personalized support, for all-day pain relief. find your relief in store or online.

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now to a story you have not seen anywhere else. some shipping companies have been opting to transport empty containers back to china instead of filling them up with our products and then shipping them out. the federal mary tine commission announcing it's auditing these trade practices and congress is working to revamp the legislation to prohibit what the fcc describes as unusual sports. she's back to break down some of the trade issues with each ocean carrier. truly an incredible story. why are we seeing this imbalance? why are empty containers being shipped anywhere >> it's more valuable. it's a decision by the ocean carriers check out the chart from fray

frados on the flip side, an expert container, exerting are onto getting them to them they're trying toget them back as u as possible so they can feel the trade route. >> unlike a bottle of whiskey that grows bet over time, things like soybeans are dot. >> unfortunately they are the biggest loser. they've had instances of spoilage on the dock then on the flip side it's taking so long for the containers to get back to china, chinese customers can actually reject the product

if the farmer can't buy the product, they can't buy john deere and they can't go in the city and buy things to simulate the economy. >> is there one company or companies ee griegious because e don't care >> we broke it out based on l.a. data, the two biggest offenders are oocl and its pashlts company, costco. they have the most kiss parity ooclo has 30.3% and anner ports. congress line, they have an increase of loaded constant

tears versus increase'and that they hat a 50% increase in loaded 60 to 121.6% kriens in empties. >> is -- i mean, first off, congress is going after companies that don't even produce gasoline that aside, is this primarily a west coast port issue like an l.a. or long beach >> exactly when i looket at all the tradings they're saying less load exports are leaves

even though it goes that high, it fill the bucketen, son so speak. again, 2.3% in the increase in the loadeds. they're almost seeing them by almost 18%, so it's really very starti lin startling. >> if you're a farmer in indiana who gets used to getting an empty box, it goes to the inflation story that everyone is talking about. laurie an la roco, thanks for bringing this to our attention thank you very much. speaking of ships coming up. celebrate steven co-voros is here and how they're bringing

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stocks looking to stop the skid as they say they need to get more aggressive to retai sky-high prices. elon musk versus twitter taking a new turn as he face as new lawsuit over his stake in

the company. and what's a billionaire to do why not even the super rich are able to avoid inflation. the sticker shock with high end cars it's happening this wednesday, april 13th, and this is "worldwide exchange. welcome back, everybody, and good wednesday morning i'm brian sullivan it is exactly 5:30 right on the nose on the east coast this is how the markets and your money look right now they're looking better than they did yesterday. they are in the greens stock futures are higher across the board. nasdaq futures up just about a percent. dow as well at 174 we're going to get more on your markets as we always do, but right now the story captivating

growing america. the growing fight between elon musk and twitter and potential new legal problems for musk. bertha coombs is back with more on that and headlines happening right now, bertha. >> good morning again, brian former twitter shareholders are suing musk over his stake in the social media company the class action lawsuit, the former shareholders saying they missed out on the recent run-up in the stp they add that the delayed disclosure let muffing buy more twitter shares at lower prices while deand fromming them. u.s. security law requires investors to disclose within 10 days when they have gotten 10% of the company news of his stake only broke

last week. walmart is tapping its chief financial officer as next ceo. john rainy will take over for bigs in early june richmond fed president thomas barkin says the central bank needs to move up interest rates rapidly in a bid to tackle inflation. he'd said to deliver a speech later today. he'll call for initial steps do not apply. he's not on board with ore hoeng

thinks rimt are not going to be pail except for right hand after over things something that a the few million need to be be built. it's hard to take that raise, thank you very much. if kbrou live in new england you probably got sticker shot. w wholesale prices raise it wo vice president liquefied gas sfoongs, there is a fit or extend writ others like its today. f at the top of the effect rage.

accelerate the list under the ticker ee. after that, steve co-mohs is with us. if you're getting up nice and ea early. as you know, i've been banging on this story for electricity where. in the eastern part they were convertinging wood and dunk to make pour. prine, fing name for swrger swrlg pe on afrmt it's critical to get energy security interbeauty after those taused we have on ralg from ban will

desh to brazil we were delivering gas in boston in jan, phen, and blade to be part of the vugs sfloo tell us in labor terms what dow do. 6 i want to say floatsing. >> explain how your ships operate. what do they do? >> these floating storage for gasification units efforts are used -- they're just -- think of them as floating import terminals, brian, and they receive transfers of lng from delivering conventional vessels and you simply warm up something that's very cold and send it to shore as the high pressurer gas. what we've been doing for nearly 20 years is connecting lng supply to folks who don't have it or need it. >> and these ships can be moved

around the wofrrld. obviouslily off the coast of boston if someone comes in and said we i can't deal with this how long d con tariff f if its joes nuft a grea it's execution-based you can quickly get lng to a market who doesn't have lng or who needs more lng with all that does for energy, security, and wow it functions.

>> i'm thing of simcy changes over over the past since years. they talk about it as a solution have you been called by the government of germany? >> we can't speak to specifics, line, but i can tell you there are a number of efforts and they need a quick tiltive,ed with in. we have one vessel scoring 1 357b9 trillion tins a year they can deblerch i'm going mang

a wide stapp, though, steench. you ships are expense entern build is my guess. 6 you probability don't have them sitting and oi equip let's imagine a company. let's imagine germany called you. you don't haven't to confirm that how quickly dow cow o ship whichever. >>ed a -- the great things about execution. you'll probably see a couple of terminals running this year, but

it's going to be a longer term phenomenon as they seek to wane themselves from earths, ittet p trip investigate i think the tang know is gist -- steven kobos going public toll testimony o luchlk yore morning rbi and this witness is all costs of inflation and maybe good information about the higher prices. stick around stick around zbloochl consistent. so log in from here. or here. assured that someone is here

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interesting, shall we, because economically it is the hot topic from wall street to washington inflation is out of control, coming in with an over 8% jump from last year if you buy anything these days, proo price increase. all right, whatever. s there's a lot of finger pointing on on wet we wanted to know againy you thin we reran a pole we asked you

about the primary inflation. primary is key we wanted to know from you what you think the main reason is and in 1 pope send veit it costs too much money. we have too few things to buy because of covid lockdowns, which 30% of you said is the main reason. by the way, no one believes it's it's's it's a push. inflation started to rocket higher back in february of last year a year before the war began. by the way, we ran the same pole on linkedin, and the ply splay

there is good news the price of used cars appears to be coming down. look at the anaheim index. it's hard to see it's starting to turn a little bit. far right, a littic needed there's a little hook there is a far right. maybe there is signs of hope that inflation at least in the used car market that which has gone nuts has peecd perfect whatever the i wanted to leave you with a little hope of gu news it's

hitting everywhere the ferrari, not immune to fred rate hiket there's a mclaren i've had my eye on. >> that mclaren, that lambeau, just about everything at the top, too much money chasing two super carrs. there's a new car called the p imbuyers are paying sixes heezs p. those who want to pay up or want to have that car sooner are packing up to $100,000 above the sticker price of $225,000.

used lambeaus are now going for 1 1/2 times the new stict prices the rolls-royce will cost you an extra $85,000 over the sticker price if you want to move up on that breaking list it's an extra car. manufacturers, they don't fuel the price. demand dealers far outstripping the supply >> we have no real tools to act against the other stict pricing. but when we talk to our partners, our dealers, we're also very clear.

>> some say they're getting an extra 50 grand or more t it retails for over 200 thundershower ton p. ordering for marn sej rate it. those 85 cars thatnded of sip sinking by me that little bit of an index there's just too much money chasing too few lambeaus, mclaren, porsche, et cetera. >> i thought that's the ship you're going to put the cars on?

theyer they assad. if you want to pour in, no one's feeling sorry for you. is it the dialers printing the money right now? >> yeah. the dialers are getting an extra $100,000 for a lamborghini euro rose if wow want to pay. you're not paying much abong the sticker price. it those why you can say i want an euro know number pull frmg that's where they're stemg haejen an zr tan

know who knows what aep fwaj to p what's going to happen next year. >> i don't think they're going the accuse car sales people of making too much thun they're mjumple the lin the lin. good luck. what do you do right now given everything that's going on obviously capital's's nan. also we're celebrating financial literacy acheesh management much here's governor and president jack dorsey.

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welcome back let's get more on your markets and your money your next guest remains optimistic, at least about chief even vequity markets

good to have you on. >> obviously, you know, inflation has in stark view here with cpi numbers that we saw yesterday, which are a little firmer than expected the major takeaway was core, which was sales have come down close to 4% month over month obviously you have been reporting on it all morning. we're looking at a very high base we've got to keep it in perspective. prices have surged way north of 30% in the last year this is moving in the right direction. maybe the market can do some of the work here, looking at shipping costs that have come down slightly over the last couple of weeks. so i think these are some positive pieces for us to take due note of as we move forward

from a market perspective. >> well, inflation may peak, jason, but it doesn't necessarily mean it's going to go down. let's say it stays at 8% it didn't go any higher, but it peopled. it's still doggone high. it appears the bond market has done the work for the federal reserve, has it not? these rate increases in bonds, that's the bond market jumping the fed. what do you think? >> there's no doubt about it we've seen spikes in the two-year, and the ten-year approaching 2.8% yesterday so obviously the bond market has done a lot of the work the fed -- i think the conversation around the fed being behind the curve that's an old story. most would say that's behind the curve. they have to front this story. a 50-point hike in may is

definitely priced into the market let's say supply chance continue to ease and to your point, cpi and some do moderate some. i think going forward maybe the fed doesn't have to do as much work as we've all been talking about over the last couple of hours. >> even with covid winding down and going awerek we know there were a lot of health care problems ben coffee vests eight, tons of people getting rate, can't,er whatever. will hello care the place to be because that is something that is not price sensitive if you need health care, you're going to get health care. >> 100%, sully i really like health care in this space i've liked it. at the close of last year, the return of preventive care, to

your point, sully, just covid not being such a huge part of the narrative going forward. companies like unh, unitedhealth care will stand there. i like it. >> all right jason snipe, i appreciate it jason, good to have you back on. appreciate it very much. health care folks, we had a lot of problems b andle. et we'll see you tomorrow morning on "worldwide exchange." that's it for us a 23-hour break. the squuks theakes place take care.

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good morning futures pointing to a higher open as investors await another key inflation report unable to sustain the firm tone yesterday morning. not a big loss yesterday former twitter investors are suing elon musk over how and

when he disclosed his stake in the social media company plus, ready or not here comes earnings season. quarterly results this morning from jpmorgan and the delta airports it's wednesday, april 13th 20rks 22, and "squawk box" begins right now. good morning and welcome to "squawk box" here on cnbc. we're live from the nasdaq market site in times square. i'm becky quick with joe kernen. andrew is off today. yesterday we ended the session down a little bit even though the stockmarket jumped after the slightly higher than expected inflation numbers that we saw. if you looked at the core number, some m