it's 5:00 a.m. at cnbc here is the top five at 5:00 stocks looking to mount a comeback and put a stop to the selling. futures are pointing to a higher open shares of facebook's parent company meta falling meta warning the decade growth is coming to an end. and shares of the former stay at home darling cratering following a first quarter miss. and twitter's would-be owner

elon musk facing employee backlash after taking aim at the social media company's leaders it is thursday, april 28th you are watching "worldwide exchange" on cnbc. good morning i'm courtney reagan in for brian sullivan thank you for joining us from wherever in the world you are watching let's kick off the hour with the check of stocks. the dow is higher by 400 points. nasdaq higher by 330 s&p is up by more than 76 points this does come after the dow and s&p were able to get slight gains on wednesday the nasdaq ending flat after facing that big selloff tuesday. the slight gains doing little to erase the steep losses dow down 1.5%.

the nasdaq down 3% let's give you a check on the bond markets treasury yields higher amid growth worries the 10-year yield is 2.824%. and wti is holding at the $103 a barrel brent crude is almost at $106. we want to give you a check on crypto bitcoin below the $40,000 threshold. ethereum is higher by 3% bitcoin is higher by 2%. below $40,000. let's check on the morning big money movers meta shares spiking. earnings per share topping

estimates. revenue below estimates. the daily active users delivered in the fourth quarter for the first time meta exceeding expectations for average revenue. higher in the early going pre-market by almost 18% let's go worldwide emily tan is in hong kong with the look at the overnight. rosanna lockwood is in london with the early trading emily, let's kick it off with you. >> reporter: courtney, good morning. gaining 1% or more japanese markets rising as the bank of japan kept the monetary policy the boj keeping it at .25% the biggest boost is chip testing equipment maker up 4%. toyota gaining as the yen pushed

past 130 weakening to a 20-year low against the dollar the governor believes a weak yen is positive for the economy on the whole. moves in the market could have negative effects korean markets closing higher. samsung under performed despite posting a strong q1 result the currency weakened to a 25-month low against the greenback. the chinese and hong kong stronger on the session. this after stabilized employment that is the look at the asian markets. back to you. >> thank you, emily. let's move to the trading in europe with rosanna lockwood in the london newsroom. good morning >> reporter: good morning, courtney despite the gloomy economic caterindicators out there with russian gas, the markets are

looking relentlessly positive. this is on the earning basis ftse 100 up 9% i want to show you the cac moving in lock step this morning. both up 2% the total energy proposing up the cac. it is all about earnings let's look at the banks in uk. standard chartered exceeding the previous stated guidance the british lender reporting a 5% rise in the quarterly profits. currently up is 15% higher they were higher in hong kong as well let's look at barclays that bank pausing a 1 billion pound share buyback program while it deals with the fallout in trading this revealed it mistaken the

products in the u.s. and dealing with authorities courtney >> interesting wrinkle rosanna, thank you very much. let's get a check on the top stories. silvana henao is here with those. >> good morning. a arcegos founder is charged after the fraud allegations. charged by federal prosecutors with racketeering and fraud and wire fraud the company claollapsed last yer it sparked a fire sale leading to billions in losses. elon musk scoring a victory in the lawsuit over the tesla $2.6 billion purchase of solar city shareholders were seeking $13 billion in damages claiming the

purchase of solar city amounted to a bailout pushed through by musk who sat on both company boards the judge ruling that musk did not enrich himself when he made the case for the deal. and samsung strong with first quarter reports. contributing the sales of the c chips. worries over supply chains per persists >> we keep talking about it. silvana, thank you to the covid outbreak in china. officials in beijing stepping up efforts as fears grow over the scenario similar to shanghai residents facing stricter control measures eunice yoon joins us from beijing with the latest.

eunice, what is it like amid the measures does it feel different than 2020 >> reporter: it's quite stressful, actually, courtney. there is so much uncertainty if beijing is going into lockdown and for how long so far signs are mixed beijing has tightened the covid controls in buildings like the one behind me, as of today, we have to prove our travel history for the past 14 days through our phones to show whether or not we have been to risky areas in the city or anywhere else we have to show a negative covid test that has been done within the past 48 hours. the city has also moved most of the schools online and has shut some public places, including tourist spots. the city is currently holding a

press briefing we have more precise numbers of the results from the mass covid testing round. the first one we had 19.81 million people tested. of those, they found that there are 53 symptomatic cases and 3 asymptomatic cases the numbers, courtney, look small from a global context. what we're watching here is the increase in the numbers. in fact, they have been increasing >> wow that is fascinating. 53 of some 19 million. i guess to your point, the trajectory that is important what steps, eunice, is the government taking to offset the impact of the lockdowns? >> reporter: the premier announced the government is going to give some handouts to those who have lost their work amid the lockdowns

migrant wasorkers and who work n factories. a lot of people have been losing their jobs or not wanting to do their jobs anymore the government will give out sub subsidies. they will look for ways to stabilize the global and jobs situation at the tech companies. a lot of internet firms in particular have been firing or letting go of a lot of people because of the regulations also because of the lockdowns. then finally, the massive talk here is of president xi announced an infrastructure week or push that some calculated to be 13% of 2022 gdp the government said it will put a lot of money towards ports and airports and roads and intranet and health care. this will be financed through the local or national government a lot of money being put toward

trying to stabilize the impact of the lockdown as opposed to lifting the zero covid strategy or changing it >> a lot going on. eunice yoon, thank you very much keep yourself safe when we come back, more of the morning big money covmovers including shares of the company taking over a billion dollar tax bill. and europe's energy cries over mootvladimir putin's demans and later, the consumer discretionary sector taking it on the chin. down more than 20% from the recent highs we dive into the factors fueling that decline a busy hour still ahead when "worldwide exchange" returns whe a global energy company? with operations in scotland, technologists in india, and customers all on different systems.

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time for the big money movers three stock stories of the morning. first, ford. auto maker reporting a loss in the first quarter after the invest in rivian. revenue miss as the global chip shortage limited the supply of pickup trucks in north america the ceo addressing that with jim cramer on "mad money" last night.

>> we launched on time that is great for lightning. we launched the e-transit. we have more work on warranty costs. the second thing is we have to get past the chip issue. we had a couple of bad commodities that held up the profitable units we think that'san area where w have upside in the second half >> stock two is paypal first quarter earnings in line with estimates a 9% increase. shares are higher despite the company cutting the outlook for the year it could take a hit from the rise of inflation and war in ukraine. and amgen. better than first quarter results, but the stock is falling. the irs is seeking $5 billion in back taxes related from profits in 2013 to 2015 between the u.s.

and puerto rico where most of the manufacturing operations are held. back to the markets. looking to once again mount a comeback amid the heavy selling this week. futures right now are indicated higher dow jones industrial average indicated higher by 380. s&p higher by 72 nasdaq higher by 300 points. that's good for a little more than 2% gain it could erase much of the losses this week there is a long way to go until the closing bell sounds at 4:00 p.m. the three indexes are in an you will hill battle to close the week with a win. for more, let's bring in matt orton. matt, thanks for being here with us when you look at the broad earnings picture, you actually see a lot of pretty good reports from a number of companies, yet it seems some of the bad ones,

netflix is top of mind, seem to override sentiment of what is going on at a company by company picture and then the macroeconomics head winds that are dragging down sentiment. can anything help bring the market a little bit higher how can we focus the market back on what's going on at the corporate evel >> good morning, courtney. great to be here you are right. sentiment sentiment is bad it fed into the negative investor sentiment already out there heading into the week. on the flip side, earnings, like you mentioned, have been positive that is missing from the narrative and we need to flip that by and large, earnings have been good what i point out to our clients, it is not just earnings, but the corporate margins.

it is coming in better than expected we're at 12.3% it is showing that companies by and large are navigating the inflation pressure well. consumers are doing well that is something that we need to be optimistic about there are opportunities in the market >> i hear your point and understand the numbers when you dig into the details does it matter to the clients if the portfolios keep moving lower and lower? as an investor, what are we supposed to be doing when we get information that should seemingly be about, yet stocks move lower and lower >> that's what i have been doing over the past month. we have been out seeing clients. we have institutional pensions to financial advisers. the main message that i have been getting is you came into this year with a plan. we came into the year expecting to have elevated volatility.

that tactical allocation was absolutely critical. just because the overall stock market is more volatile, the market of stocks actual stocks are pre-ssenting good opportunities. we have seen good stories. there are companies bucking the trend and doing well some of the areas are high quality and information technology that is holding up better. there is room for improvement given the earnings also health care health care is an area i favored over the past five months because of the level of innovation and natural growth embedded into the sector it is more than vaccinemakers and hospitals. a tremendous amount of opportunity beneath the surface with chronic disease that is presenting good earnings

and margins. >> we'll keep our eye on health care and some of the information technology names as you point out, it could be a mixed bag with the individual movers matt orton, thank you very much for joining us still on deck, carvana potentially getting a cash lifeline from the private equity how much it may be getting to navigate its ongoing troubles.

turning to europe's energy crisis some of the europe's largest energy companies are preparing for a new payment system for russian gas demanded by vladimir putin. according to the financial times, gas distributors are planning to open ruble accounts in switzerland amid the fight over gas, coal prices have been surging despite the push to phase out the fossil fuel pippa stevens is here with more. >> reporter: good morning, courtney c coal hitting the highest prices on record as russia sends power prices surging the eu depends on 70% for coal for electricity.

for growing calls away from fossil fuels illinois basin coal is at an all-time high. these two types are seeing the largest price increase since access to international markets. coal stocks are getting a boost. in a week where the broader markets are down, arch resources is up 30% this week after tuesday's earnings the company posted its highest revenue since emerging from bankruptcy in 2016 arch announced a dividend of $7.86 per share. >> pippa, this is surprising many thought coal was on the way out. is this temporary or are prices expected to remain elevated?

>> a lot of calls for coal which is the dirtiest fossil fuel to be phased out. this price surge started last year we see demand sky rocket as businesses and economies reopen. confluence of factors meant europe's wind generation is down a huge increase of coal usage. the international energy agency said coal use was up 9% compared to 2020 levels a disconnect with the calls for coal to be phased out. >> always the confluence of factors when we talk about energy and what we want and what reality is playing out to be what does it mean overall for clean energy if you have the increase usage of call which is dirty. >> it speaks to the short-term and long-term strategy

russia has shined a light on th energy independence. it is unpopular to prioritize goals versus keeping the lights on particularly for politicians nobody wants power cuts. we see coal and gas and oil and fossil fuel prices rising. what happens is they are sensitive. if gas prices were higher, people would switch to coal to save money with all of them high, we are just seeing inflation pressure rise across the board and on the environmental side, there are a lot of calls for people saying we can't just forget the long-term goal and have a huge amount of new coal, gas and oil capacity come online they are saying we are not sure prices will stay this high a lot of unknown factors >> absolutely. two very different places right now. pippa stevens, thank you very much still on deck, the big week for big tech earnings rolls on as the sector

faces continued pressure over valuation questions. what joel kulina states if this selloff is over for big tech. and warren buffett and charlie munger will hold the serk shier hathaway share holler meetintoy. 'lbeig bk.g da (vo) this is more than glass and steel... and stone. it's awe. beauty. the measure of progress. it's where people meet people. where cultures and bonds are made between us. where we create things together. open each other's minds. raise each other's ambitions. and do together, what we can't do apart. this is space for dreams. loopnet. the most popular place to find a space.

markets once again looking to mount a comeback and chip away at the losses futures are higher shares of meta following a boost. what joel kulina does to dive into the numbers elon musk angering twitter employees before taking over the company. taking aim at one company insider. it's thursday, april28th you are watching "worldwide exchange" on cnbc. welcome back i'm courtney reagan in for brian sullivan thanks for joining us. it is right at 5:30 a.m. on the east coast here is how the markets and your money look ahead of the open bell dow jones industrial average is indicating a higher open to 365 points nasdaq higher by 300

s&p poised to open higher by 71. this comes after the dow and s&p were eeking out slightgains. let's get a check of the top stories. silvana henao is back with those. courtney, elon musk facing backlash from twitter employees over the criticism of one of the company's executives musk tweeting an image questioning the political bias of the top lawyer leading to the followers posting vulgar messages in response according to the wall street journal, employees asked whether that move breached the terms of the deal of the purchase of the company. they questioned the s silence of the former ceo over content moderation apollo global is giving a

lifeline agreeing to buy $1.6 billion of bonds for the used car dealer. carvana struggling to attract investors after the first quarter. and ford announcing it is cutting 580 salary employees and agency workers in the u.s. the move on the heels of the quarterly results which is part of the company turn around plan. the cuts coming in engineering as ford pivots to electric vehicles ford cfo john lawler will be on "squawk box" at 7:30 a.m. eastern. courtney, one to watch >> thank you, silvana. let's turn back to the markets and tech struggling to sustain gains in recent days look at nasdaq over the last week a wild ride. last thursday, down 2% friday, down another 2.5%. monday a 1.3% gain.

tuesday? nearly 4% loss the worst session since september of 2020. yesterday, failing to hold on to early gains for a slightly lower close. faang stocks down sharply from the most recent highs. netflix, the big one off 73% from the recent high alphabet and amazon down 25% m meta/facebook, off 55% from the most recent high the winds of change could be in the air for meta with the stock sharply higher the company posting mixed results for the most recent quarter. earnings topping estimates with sales coming up short. key user metrics is something to be desired meta possibly looking at the first revenue decline since going public joining me now is wedbush's joel

kulina joel, thank you for joining me we went through some of the high level details and we are indicated for a higher open on the nasdaq today that could chip away for some of the week's losses. what do you make about what's going on in general overall in tech we talked about the overhang from netflix and it is down 73% from the recent high you have the pop from meta although results were mixed. what should we expect from the tech sector as the markets continue to be choppy? >> good morning. thanks for having me on this morning. you nailed on it the tech is all over the place it is nice logging on and seeing the queues up for the day. you have to put it in perspective. this is where we were 48 hours ago. earnings are a constructive place to start qualcomm is in the chip space.

then meta and paypal and op pinterest as well. hopefully companies is step over it i think tonight is another big test with apple and amazon and r on oroku as well there are pockets of tech that are un-investable. look at teledoc. stock down 37% these companies rely heavily on the covid fueled boom and they are completely toxic and no shocker cathie wood is the number one holder of teledoc they don't want to touch for a number of reasons. digital advertising is a tough spot we know the consumer is struggling it will impact ad budgets.

guys are staying nimble. net ledverage is 52-week lows that is the story in april lines depressed with a lot of sideline watching. >> you mentioned some names might be uninvestable. when you look at shares of meta, what do you think of the action? expectations were so low after reporting the previous quarter which was awful? the bar was so low that that's why we see the pop today this quarter wasn't so great across the board >> i have never been a fan of zuckerberg i'll admit that at top we see a rebound of users which is that people are not fleeing the platforms. you know, a big head wind of the stock and an story is the

zuckerberg obsession with metaverse. they did reduce the expense died answer last night. the metaverse lost money, but lost less than feared. $2.8 billion expectations were $3.5 billion in terms of losses there there are a few positive things to point out these stocks are so bombed out facebook off 53% off the highs coming into the print. similar for pinterest and paypal those were down 70% off the high i don't know if i would jump in head first in facebook here. i think microsoft is a better name apple still remains the last safe haven of the market i think i'll stick with high quality stories and growth and you can rely on their consistency. >> you gave a tease to the next question we have to hit on apple. obviously it will report tonight

as well as amazon. both down 10% this month you mentioned qualcomm's good results which bodes well for apple. what should we watch for in apple and amazon >> with apple, we know a lot of money is parked in that name it has been a safe haven i think people want to hear how they continue to navigate the supply chain a lot of headaches with the chinese lockdowns and depending where the factories are and which region impacted. people are focused on the supply chain. iphone demand. no one is expecting major surprises. that is the best thickng about e apple story. there haven't been any negative surprises in left field. also, apple really wasn't one of the companies that benefitted from covid so, they have been able to go

under the radar and do what they do i think that has been paying off. obviously, returning cash to shareholders remains a big part of the story they will boost the dividend and buyback as well. and amazon's sentiment is more negative here. you could see a facebook type of reaction here. amazon hasn't made money for investors for a long time. probably since the summer of 2020 it has been dead money the recent concern is focused on margins and inflation pressures impacting the business u.p.s. talking down residential shipments in the week. amazon announced surcharges which shows they are dealing with pretty difficult issues i guess the key to the story is how does the cloud unit aws come in if that delivers and beats expectations, the stock works in the near term because the focus on the cloud part of the story is a very low bar to step over.

>> big companies here ahead. i'm sure you have a big day. thanks for starting it with us joel kulina. >> thank you coming up, more of the big money movers and what is tu fuelling the shares of the selloff of teledoc. mcdonald's throwing cold water on the plans toit is keepn the mcburger shares soaring on the news mcdonald's saying the sandwich is a core menu item. no shortage of elon musk headlines today. taking to twitter to speak out saying he would put cocaine back into coca-cola and the new podcast of the start-up sound series on the podcast diving into the history of the jingle

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growing rapidly. qualcomm ceo is on "squawk on the street" today. stock two is pinterest the stock benefitted from higher ad spending. users fell 9%. pinterest posted a risein mobile users shares higher by 6%. stock three is teledoc shares are tanking after a wider first quarter loss hit by $6 billion impairment charge. teledoc is cutting guidance for the year shares down 40% in the pre-market consumer sector is feeling the heat down 20% from the 52-week high as back in november with retail stocks dropping. the market expects the fed to

hike rates to tackle inflation which could result in consumer spending less on clothing, cars, vacations. rising wages and commodity prices are eating into the margins of companies that depend on discretionary spending. let's bring in stacey widlitz. stacey, it is great to have you here this morning. it is funny. steve liesman and i talk about the state of the consumer. is the consumer strong is it not strong it seems to depend who you are talking to inflation is high, but consumers are traveling gain you hear great things from the airlines maybe not great things what are you making in general of the state of the u.s. con consumer >> that is accurate, courtney. not everybody is treated equally. the retail circle of life. everything was full price and inventory was tight.

all of a sudden, now we're starting to see discounting at the time where inflation is coming up. we are talking about the fed and most of the brands are exposed to 20% to china. retailers are feeling it from every direction. you know, particularly from the cost side and now we run into the discount cycle that gap and we are starting to see that across the board the consumer is buying, but paying more. chipotle is charging 10% more. u unilever is charging 10% more. there is less to go around. >> before we get into the individual names, i guess what strikes me is the fact that once consumers get used to paying a higher level of pricing, even if things shake out on a macro level and the supply chain is normal and we see inflation start to come down, will

retailers lower prices >> i think the answer is no. how many times have we seen this before, courtney we talked about this years ago when we had tariffs on chinese goods. prices came up prices are sticky. once retailers raise prices, they tend not to bring them down once labor prices go up, target, walmart, everybody paying $17 an h hour, that is also sticky. the cost structure is going up and average tickets are going up permanently. the issue we run into is the amazing two years of selling, when inventory normalizes, we see the discounts creep back in. >> let's break this down for viewers. not everyone is treated equally. we hear different things from different companies. mattel said the supply chain is helping them maybe the company is just executing better or better managed. let's go through names

who are winners right now in the environment? putting everything in account and who are names that are not doing well maybe investors should shy away? >> we heard from lululemon and they are expanding you have to look at brands that have a runway to go into different categories and take share from others. you are looking at walmart who is saying we will give you discounts on gas we're going to gain market share. we will use inflation to our average. target renovated stores and fulfilling most of the goods from stores. that's helping margins they are the new department store. skechers yesterday had great numbers. everybody wants to be comfortable. that is a shift in how we are dressing on the other side, the apparel guys, we look at promotional data year over year and you are seeing it across the board discounts creep back in.

clearly we heard from gap. no surprise there. discounts have been up for four months year over year. >> we have to be discerning when we look at names in the retail sector and consumer sector we pointed out stats here. some of the worst in discretionary are all over the map. etsy and tesla and starbucks and wynn it pays off to do your homework. >> and china exposure. anybody with the 20% to 25% in those names, there is real concern over what happens to the market it is the highest margin market. double whammy. >> absolutely. nike has actually had trouble although it is one of your likes. stacey widlitz, thank you. on deck, a solid rebound taking shape tiffany mcghee laying out the

trading day ahead and the company high on her radar. and brian sullivan hosting the milken global conference in los angeles. to register go to cnbc.com/pro/talks we'll be right back. with 2 max-strength pain relievers. ice works fast... to freeze your pain and your doubt. heat makes it last. so you'll never sit this one out. new icy hot pro with pro-level contrast therapy. rise from pain. is it some magical number? something we just achieve at the end? or is it a feeling? a freedom, to live our lives the way we intended. through the ups.

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so you can focus on making the world work better! so i say...lets work! ...or i think that's what we're both saying. when your digital solutions work, the world works. that's why the world works with servicenow. hey! whats good your highness?! a busy day ahead for investors. at 8:30 a.m., a double whammy of economic data and the first look at the first quarter gdp tech earnings roll on with apple, amazon and intel. out after the bell we will get results from caterpillar and comcast and mcdonald's that's just to name a few. let's get more on the trading day ahead and bring in tiffany mcghee tiffany, thanks for joining us here today what a week we had it is only thursday morning. we are just getting going here on this morning.

so far,things are looking positive for the major indexes do you think we can hold on? some of the tech names are giving us hope going into the day's session? >> good morning, courtney. it is good to see you again. listen, going into the year and the investors have had this really interesting year. very volatile year i think that tech could be a really good glimmer of hope. especially today with amazon and apple reporting. when i think about volatility and really hard to be an investor right now and it is important to manage expectations around the volatility. there's that saying that volatility takes the elevator up and takes the stairs down. it easy to get into the high levels of volatility it takes longer for that volatility to settle down. when you look at the vix, last

week on wednesday, it was at 20. coming into tuesday, it was at 33.5 we had the first 10% correction. bonds are not offering a safe haven. getting back to tech i'm looking at apple and amazon today. they could provide a glimmer of hope if they are able to have solid returns. also coupled with the fed meeting next week and had fed not doing anything unexpected. they have to play their part also looking ahead to may and the flex inflation reading if we are able to hit those three and with some level of success, i think we see a bump in the market. >> amazon and apple as we pointed out earlier, have not been strong performers they have held upper than some of the other big tech names. is there something in particular that you think investors need to hear from these companies to help us have more confidence in what they're road map looks like going forward? >> you know, that's really hard

to say because we have seen some of the tech names -- when you look at how earnings season played out -- we have seen one-third of the s&p 500 reporting. 80% of those names have surprised to the upside. we are really not seeing with the exception of a few high profile names, we are not seeing the market rewarding those names that have done well. i think i need them to just -- they don't have to knock it out of the park. they need to do well and show progress again, it is not just these two names. it really is a combination of that and what the fed is going to do and then, of course, that inflation reading. i'm just looking for incremental progress with apple and amazon i think apple will be steady it typically is always steady. your earlier guest was talking

about apple. we are not expecting them to knock it out of the park, right? all we really need to do is see progress it is a combination of things. >> tiffany, can i get an actionable name for investors? what are you watching? >> mosaic. we think about what is working and not working. everybody knows we have stresses on supply chain, especially with food mosaic is a company that is in the fertilizer business. they source materials that make fertilizer the company is up 65% year to date which is extremely welcome paired to the names we have been talking about and the rest of the market >> thank you very much tiffany mcghee before we wrap up, tune in tomorrow for brian sullivan's conversation with makan

delrahim talking about the key corporate stories including the twitter takeover that's tomorrow only on wex. that's it for us on "worldwide exchange." "squawk box" is next

good morning maybe a bounce back delayed? futures pointing to a jump at the open we get you ready for a busy earnings day merck and caterpillar and mcdonald's and our parent company comcast. facebook shares surging. we will dig through the numbers. more fallout from the

archegos scandal it is thursday, april 28th thursday okay next week is may "squawk box" begins right now. >> good morning. welcome to "squawk box" here on cnbc i'm andrew ross sorkin along with joe kernen. becky has the day off. she will have a lot of great interviews from omaha starting tomorrow we have a big day ahead of us. u.s. equity futures here, joe. all of the earnings reports are getting people -- dow up 335 points comeback here. nasdaq 282