shipstation saves us so much time it makes it really easy and seamless pick an order print everything you need slap the label on ito the box it is 5:00 a.m. here at cnbc here is the top five at 5:00 stocks extending selloff nasdaq and s&p in the red. futures suggesting of a tuesday turn around. and tracking the moves of the oracle of omaha. stocks that warren buffet is buying and elon musk may scale back on the offer.

and we hhave an inside look of the health of the american consumer the deal for one manufacturing company that is giving employees a life changing stake in the company it is tuesday, may 17th. you are watching "worldwide exchange" here on cnbc good morning i'm frank holland in for brian sullivan let's kick off the hour with the check of the markets in the green this morning. right now, the dow is poised to pop 300 points at the open it is still early. the nasdaq up more than 1% right now. big turn around for that index stocks finished lower on monday. extending the selloff. p s&p falling 1% the dow was able to eek out a

slight gain. retail earnings. we get results from home depot and lowe's and target and tjx. we have to check the bond market the 10-year yield is at 2.92%. we have seen this stay below 3% since last week. it hit a resistance level at 3.2% also this morning, a number of fed members speaking today we will see if it impacts bonds today. crude is getting a boost on optimism that china would see recovery and the covid outbreak is easing. wti is above $110 a barrel brent crude about the same at $114 both up 1.5% and then crypto. we are gaining ground from the

terra stablecoin fallout bitcoin up 3%. ethereum up over 3%. xrp or ripple up 1.5 let's turn our attention to chery kang with the trade in asia and julianna tatelbaum with the trade in europe. chery. >> good morning, frank you are looking at the wall. green across the board in asia yesterday was the weaker than expect china data that disappointed many. it is a jpmorgan chase analyst upgrading stocks we have hong kong listed china stocks rally this morning. we have hang seng tech rallying to 6% at the close jpmorgan chase analyst

downgraded the sector in march and calling it un-investable now they are saying the key risks with the sector have diminished adrd listing risk and geopolitical risk. we are talking alibaba and baidu and pinduoduo. now to overweight from underweight. another meeting we are watching is the vice premier speaking at the meeting which is organized by the country's top political consultation body. that is also helping the sentiment. as you mentioned, shanghai lockdown lifting the sentiment as well. chinese yuan firming from yesterday's 20-month low and three straight days in shanghai with no covid cases. that is a positive for the

market frank. >> a lot of optimism chery, thank you now to the trade in europe with julianna tatelbaum in the london newsroom good morning >> frank, good morning the positive momentum in asia is doing good for european equity markets which are higher across the board as well. decent gains we have the cac 40 up 1.4% and similar for the german market we are seeing a lag in the uk. ftse 100 is up .70% we see a strong surge in sterling up more than 1% versus the greenback. that is an inverse relationship with the ftse 100. the swiss market holding up 1% ftse mib 1.6% higher the spanish market is up 3%. at the top of the board, basic resources up 2.4%.

financial services and banks and industrials. decent tilt toward the cyclical sectors. down side is food and beverage still up 0.4%. telecomm and auto and health care frank, investors are putting more risk on the table today >> a lot of green on the board julianna, thank you. to the morning's other top stories. silvana henao is here with those. good morning >> frank, good morning there is no shortage of elon musk news this morning two hours ago, he replied to a tweet saying twitter must show it has less than 5% spam accounts for the deal to go through. musk has been accusing the social media giant of not sharing accurate data suggesting that fake users make up 20% of all accounts yesterday, he said he could seek a lower price for the deal because of that twitter shares are falling because of this. musk is also saying the u.s. economy is probably in a recession.

musk speaking at the conference on monday saying he projects the tough times will last a year and 18 months and caution companies to watch cash flow and cost. and intel shareholders rejek rejected the plan for the top executives shareholders represent 34% of the shares in favor of the package. the vote is advisory and will impact compensation for the executives, but this is the latest example of the shareholders voting against the compensation packages. and lordstown motors will delay operating for another year that is according to the comments from the chief finance officer. lordstown needs to raise additional $150 million in capital before the end of the year before it can execute on the plan force

the plan for for 2022. it reached a deal to sell the factory, but the company's market cap is below $500 million. >> a lot of the ev makers under pr pressure thank you. the odds of the hard landing for the u.s. economy is rising according to the note from morgan stanley's cio the stock and bond market down turn advanced the behavior of classic cyclical bear market rather than a correction with the inflation stubborn, investors are bracing for a growth scare or recession. morgan stanley sees a 20% chance of recession let's bring in kevin simpson from capital wealth planning >> frank, good morning >> kevin, you are saying investors are unprepared in general for all of the

volatility they need to readjust how they look at equity they need to do homework when they are studying, what do they need to study dividends or cash flow >> it is all of the above. we heard the expression that it is all fun and games until somebody gets hurt it is fun and reeasy in a raging bull market. so many did get hurt with crypto or meme stocks a lot of newer investors and seasoned ones were unprepared for the volatility you did a great job yesterday, frank, highlighting the clouds names and growth names and thesis with the pull back in yields it was a meaningful pull back on the ten-year that trade is over we need to reset and rethink it plays into our philosophy

like you mentioned if yyou own stocks with free cat >> i did tee it up i'm a home boy with my philly brother. you are especially focused on companies that have capital for earnings to afford dividends can you give us examples of what investors should eye in the environment? >> thanks for that tee as well i'll give you a bryce harper home depot is a stock off 30% from the high. the pe was inflated. i can make a case it is high moving forward there is room for the stock to pull back. we are building a position

because we like the pricing power. you have home depot or walmart with the ability to control the supply chain more importantly, they have the pricing power to make sure they are profitable that is the key to all this. if you look at home depot's dif d dividend, it is paying2.5% it is great to build a position in the stock the reason i love it, frank, is the five-year dividend growth each year for the past five years has been increasing that dividend at a rate of 19%. that's the way to combat inflation. higher dividends are a true hedge against inflation. >> recession possible? morgan stanley says odds increased 20% over 5% a short time ago cpi at 8%. ppi at 11% what does that mean for companies that have strong earnings and ability to provided

dividends? doesn't it eat into the ability to provide the dividend? >> it will eat into the ability to increase the dividend at the same clip. you need the earnings to support the dividend growth. you will focus on aristocrats or dividends. i can tell my son to go to the mall and buy anything we want with a credit card it doesn't mean we can afford it we need to invest in companies with the earnings growth to support that dividend growth if the earnings growth slows, which it will, across the board, you can still have stock prices appreciate even in periods of high inflation in a recession that will not go up 20% or 25% or 30% another name is the old dow chemical thinking with the home builder theme. a stock has been able to

successfully put its pricing into the customer from the supply chains which are still there and paying more for goods, but passing on the costs to the customer sales are up 80% a company paying you 4% plus dividend right now dividend growth is still over 7% of or 8% a year that is an example of a company pressured by higher prices and has the power to pass on to the customer base. >> the search for yield continues. we have to talk about philly sports the next time. >> not the sixers. >> kevin simpson, thanks when we come back, china's impact on the global supply chain krcrunches the steps china is taking to ease the bottleneck. and what has shares taking off? and abbott reaching a deal to ease the formula shortage

what it is doing to get the baby food bk acon store shelves stay with us a very busy hour on "worldwide exchange." stay with us >> announcer: this cnbc program is sponsored by ibm. ibm. let's create so you tap ibm to un-silo your data. and start crunching a year's worth of transactions against thousands of compliance controls with the help of ai. now you're making smarter decisions faster. operating costs are lower. and everyone from your auditors to your bankers feels like a million bucks. let's create smarter ways of putting your data to work. ibm. let's create

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welcome back the chinese government developing a new stage with the zero covid stage

with the target of reopening on june 1st senior editor joins us now lori anne rocco is talking about the global supply chain. lori anne, will this help correct the bottlenecks? >> good morning, frank the answer is no i got off the phone with my colleague in china and they are saying no. the city cross border for the trucks is not open the containers are not coming. they are getting phone calls saying they need raw materials this is more rhetoric than action what i want to do is give you the skinny, if you will, on the flow of trade. i want to start with what we are calling dwell times. what are they? vessel dwell times tells you how long a vessel is at anchor

for the container with dwell time is the time the box waits to get on the vessel at the port what does it mean? it tells you the truth in zero covid and impact on the u.s. supply chain when you look at the imports and that's where the vessel dwell time comes in, that shows the vessels are near a wait time as high as 12 days. that is a very long time normally you are waiting in port a day or two for the exports and this is critical this is the u.s. supply chain here the containers are waiting a whopping three days before they get on the vessel. normally they only wait for a day. remember, folks, a vessel at rest is not at money why is this happening? the tight control of moving freight between cities and factories need to apply for permissions that are only valid for 24 hours >> how are the delays getting

into the shanghai port impacting others >> it is shankghaishanghai, if , is the heart beat. you have cambodia and vietnam and malaysia bounce product back and forth to get finished. this includes japan. last week, the audience may remember toyota and mitsubishi and suzuki said they were closing factories or stop back production due to lack of raw materials. and tesla, they last week had to shutdown production as well. >> how are the details from shanghai hitting u.s. exports are finished goods? this chart, story. this is the shanghai exports into the united states that is a ski slope. no one wants to see this in a

downward trajectory. this is what is happening with zero covid once things reopen, you will have the container crunch that everybody will talk about. this is the reality of zero covid. >> lori anne la rocco, thank you. wall street pushing money into the key pennsylvania senate race ylan mui is on the ground with the latest backing the candidates stay with us

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time for the big money movers first up, united airlines. shares up 4% it is raising the second quarter revenue forecasts despite the boom in travel demand. now revenue per available seat mile up 25%. last week, united said this summer will be the busiest since the pandemic 5.3 million customers will fly during the fourth of july. stock two is take-two interactive. it is up more than 5% after the better than expected fourth quarter revenue. it adjusts sales to be below estimates as demand slows with the return of social life. and stock three is tencent

shares are rising on optimism for the easing of the crackdown on the tech giants the company's top consulting body is meeting with firms to promote the digital economy. let's get a check of the other headlines with nbc's frances rivera in new york >> frank, good morning president biden and the first lady are traveling to buffalo to pay respects to the vifamilies the mass shooting. they will meet with the families and first responders and community leaders to offer condo condolences. more than 260 ukraine fighters have been evacuated from the steel plant in mariupol it the plant has been under bombardment for weeks. this would cede control to

russia ending the battle for the key port city. you can now order a third round of covid tests from the government the tests which can be ordered through covidtests.gov mattel is back with another barbie doll inspired by vera wang it was released honoring trailblazers and visionaries it was taken from her spring 2017 spring collection when she shifted from the gown pieces frank, she started this by designing ice skating costumes now a long and storied career and her own barbie >> i love the barbies. i have three sisters when they were younger, it was cool

frances, thank you no sleep for elon musk up and tweeting overnight aspect legislat as speculation mounts he is trying to slash the price of twitter. if you missed us, you can check us out on apple or spotify for our podcast. "worldwide exchange" will be right back energy ...even skin. so healthier can look a lot like...you. cvs. healthier happens together.

a tuesday traurn around takn shape. the stocks kick off the week on

a sour note. slashing the price tag elon musk up overnight to try to reduce the offer for the social media company. checking the health of the consumer home depot annd walmart with the earnings what to watch for on the results. it is tuesday, may 17th. you are watching "worldwide exchange" here on cnbc welcome back i'm frank holland in for brian sullivan it is 5:30 here on the east coast. here is how the money and markets and stuff you invest in and how it looks right now stock futures in the green a bit different from recent days dow is poised to pop 300 points at the open. nasdaq in the green after falling 1% yesterday the bond market. ten-year yield holding below the 3% mark at 2.911%.

a number of fed members speaking today. including jay powell we will see if it impacts bonds at all today we have been keeping our eye on it we have been looking at the oil market today we will keep our eye on it crude oil getting a boost after china seeing a recovery after positive signs the covid o outbreak is easing wti is at $114. now with the top headlines with silvana henao >> no shortage of elon musk news two hours ago, he said twitter must publicly show it has less than 5% pspam accounts for his deal to go through he is accusing the social media company to not release accurate

data he said he could seek a lower price for the deal because of that meantime the new york post is reporting that spacex is selling existing shares today. there is talk elon musk could be a seller musk has been looking to raise money for his twitter bid. he owed 44% of spacex shares as of august. and abbott reached a deal with the government to open the factory in michigan. it was shut due to bacteria contamination. 13f over what some of the worlds investors bought and sold in the first quarter warren buffett purchased 55 million shares of citigroup and

media firm paramount global. it sold the verizon stock and exited positions in wells fargo. and dand loeb sold shares of amazon and 70% of microsoft. lots of move there, frank. >> a lot of movement the health of the consumer is front and center as the biggest retailers roll out results and investors are looking for signs of inflation pressure joining us now is jan nippett. >> it's a pleasurepleasure >> we have home depot coming up in a half hour and then walmart

later this morning what can we learn from the consumer >> i believe we will see walmart at 2.5% on comps what you will find there is multichannel retailing is starting to win the game against the great amazon that is really only online. that's going to be a big lesson for all of us. target is proving it and walmart is proving it. we will see the multichannel is where you have to be walmart is proving that and so will target. hd is a little different it will tell us if the rotation had started. with removing way from home and moving into ex-experiences i think we are spending on both. hd needs to give us a minor

negative number. maybe 2% we will all walk away saying yes that consumer is there for both sides of the business. >> i was caught on what you were saying these two companies they are part of the w.a.t.c.h. walmart, amazon, target, and home depot do they pass on the cost to the consumer >> the greatest retailers in the world you named. they have the ability to hold costs down for themselves. they all invested in technology. they got to stay open during the great pandemic they reinvested and took market share and continuing to. they will show us that despite the inflation, they are the people we will go to for our goods because they get us the best deal. best at logistics and best at

getting the product in the stores and the very best at controlling costs and they can use automation when labor costs go up. it is really hard to compete with them now that they can reinvest in business with those rates and technologies other people just can't do it at the level they can do. >> jan, you said a buzz word logistics. we had lori anne on a moment ago with the china story i know you are positive on the numbers. is there one company that you expect to be impacted by supply cane issues? >> no, what i expect is that the ones we named are not being impacted by the supply chain issues as the other retail part of the world we really won't see that in the report this week when you see tjx and ross report, you will see they are having logistics issues.

we are waiting to see if those are logistic issues that will do away i don't think they will go away and i don't think they will go away in the next three to six months after that, things will return to normal, i suspect we are looking for that. can the space compete effe effectively in logistics so far that hasn't been the case >> so one are more thing i know i said we would fit in boot barn. we will table that for now you say consumers have more money in their wallets nobody puts a number on it how much do consumers have >> right now, they are sitting on $3.9 trillion versus the $1 trillion they were sitting on in 2019 they can spend it if they want

so far, they have been resistant for price and paying for stuff they don't really want that is amazing. the question is will they keep doing that at 8.5% inflationary environment. we are waiting will they spend it up and reload credit cards or sit back and say no, i'll fight this battle i'm too afraid of the economy. as of yesterday, they are saying i'll keep spending >> they are spending it on boots and 10-gallon hats thanks, jan. turning attention to the big senate primary race in pennsylvania the contest in the keystone state attracting attention as well as money from big names on wall street. ylan mui is live on the ground in blue bell, pennsylvania outside philadelphia with much more ylan, who is throwing money behind the race? >> reporter: good morning,

frank. dr. oz is leading in the latest poll, but wall street is betting on someone it used to call its own. former ceo dave mccormick. he is running a close second in the gop primary battle for the open senate seat he has been all over the air waves. nearly $79 million has been spent so far that is about six times the amount spent during the entire campaign season in the last midterms the biggest spender is a pro mccormick super pac funded by his former colleagues in finance. ken griffin donated $7.5 million to the pac and paul tudor jones donated $500,000 that is a nice war chest mccormick is trying to distance himself from his friends and play up his hometown roots.

>> whoever applied for a job where you get less money and your reputation destroyed over that time? all of those who run for office. why would i want a job like that well, the reason is i love our country. >> reporter: dr. oz has big money backers of his own including nelson peltz and john paulson who gave $5,800 to the oz campaign directly oz has the endorsement of former president trump. we are at the hotel where the town hall was located last night and trump called into the event not to just support oz, but slam mccormick. frank, we will see what voters have to say about this when they head to the ballotbox. back to you. >> battleground pennsylvania continues. ylan, i have to ask why is there so much attention on this particular race? >> reporter: this race is really shaping up to be a chest of

trump versus wall street the former president has had success in endorsing candidates who may have seemed like long shots and rose to the top of the polls. notably in ohio where he won the gop primary there j.d. vance mccormick has so much money on his side, that plays a factor in the name recognition with voters we will see what they have to say. there is another candidate who is rising in the polls this is really a toss up as voters head into the final hours before the race is decided >> ylan mui with the latest in pennsylvania coming up here on "worldwide exchange." an american success story. comp companies get acquired almost every day in the country up next, we bring you the story of the private equity firm turning the tables with the

model that is enriching every employee. it is a big day here the list of startups is back for the tenth year the 2022 cnbc disrupter list will be revealed on air and online at cnbc.com/disruptors. stay with us

welcome back private equity is seen as the enemy. buying companies in middle

america and loading up on dead and slashing the work force. leslie picker reports. >> reporter: in the town of arthur, illinois, a surprise are for the hundreds of workers at c.h.i. >> we have news. >> reporter: c.h.i. is sold for $3 billion to the steel manufacturer it is not just the company's private equity owners cashing out. so, too, are the truck drivers and factory workers and office manager. >> this was a great day for rhonda >> reporter: the payouts are a function of salary she is in her tenth year and bringing home 5.5 times her annual salary. >> words cannot explain how my mind was going >> reporter: employees received envelopes with the bonus details. hourly workers received $1

$175,000 with the most tenured $750,000 the idea of giving workers equity grants in a sale is the brainchild of the largest and oldest private equity firm >> what got me interested in it was my father. my dad was a construction worker for 45 years >> reporter: his father loved his job, but could not create wealth on an hourly wage once his son, he got into the topic of employee ownership. he rose through the ranks and started investing. now the firm uses it in all of the buyouts. >> we had good success it delivered great results for companies. it is not just the money it is the fact that you earned it this is not charity. this is not a gift it drove unbelievable productivity >> reporter: the company will have the profit sharing model

for c.h.i. and employees say they have no plansto take thei money and run. >> i'm all-in. >> they have to wheefl me out o here >> reporter: and as for rhonda, she has big plans. >> we are going to disney. well, i'm going to pay off my house and cars we're going to give a little bit to the church and help my kids >> reporter: kkr first invested in c.h.i. in 2015. they will make ten times the equity invested on the deal. the best return on the buyout since the 1980s. for nucor, the biggest acquisition ever and the shares slipped on the announcement yesterday. frank. >> leslie. this is an interesting story

could we see more of this with private equity companies >> reporter: frank, the reactions were genuine it is something that we'll see more of. for one, kkr is instituting this in all of the america-based buyouts. we heard from pete of kkr in the package. he launched a non-profit called ownership works. it has private equity firms to sign on and do a similar model three portfolio companies by 2023, apollo, ares, leonard greene some of the largest private equity firms in the country. this is the tip of the iceberg q we could see more. >> a good day for rhonda leslie, thank you. coming up on "worldwide exchange." we'll get you ready for the trading day ahead and talk to one portfolio manager who is finding links to inflation and this is asian american

pacific islander heritage month. here is ann berry. >> my mom is from the philippines. she was one to move to the west in the 1970s i grew up seeing her feel i invi invisible. i made it a mission to making sure i could be seen and heard in the rooms i was in. my message to young people with asian heritage is you have a voice. be proud of your voice use it and speak up. ever wonder what everyone's doing on their phones? they're banking, with bank of america. the groom's parents? they just found out they can redeem rewards for a second honeymoon. romance is in the air. like these two. he's realizing he's in love. and that his dating app just went up. must be fate. and phil. he forgot a gift, so he's sending the happy couple some money.

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what do you think healthier looks like? cvs can help you support your nutrition, sleep, immune system, energy ...even skin. so healthier can look a lot like...you. cvs. healthier happens together. welcome back a busy day ahead several pieces of economic data and retail sales for april we get the latest at 10:00 at 2:00 p.m., jay powell speaks at the future of everything

fes festival retail earnings season is under way. home depot results out in a few minutes. walmart out at 7:00 dow is looking like it is opening 4 points higher. green across the trading day let's bring in keith lerner. keith, thank you for being here. >> good morning, frank nice to see green on a tuesday. >> it is nice. let's start there. what do you make of the turn around for the markets up big today with fed chair jay powell speaking later today? is that what you expect to see from the futures >> i don't know if i expect to see futures up 400 frank, we downgraded our equity view last week, we told our investors we would not be sellers after we had a big correction what has happened is the market

is oversold. the sentiment is one sided it takes a little bit of good news to go a long way. we thought we would have a short-term market low. we are not surprised to see gains. >> some of the things you are watching is inflation and rate hikes, et cetera one area you are interested in and you are bullish on large cap companies. why real estate? trying to buy one of the c comp competitors. why are you bullish on the real estate >> we have been overweight in real estate because of the quality and the tech component of the inflation trade that we are seeing with rents moving up also it has been a steady eddie with growth quality i would say it is more positive

with the energy and materials which is a good hedge for inflation. look at energy this morning. even with the correction we had, crude oil prices are hovering around 115 that's another area we like in the market and held up well during the down turn >> another thing you track is how much of the market is oversold you mentioned and we talked in april that a certain percentage of the stocks in the s&p 500 were trading below the moving ave average. >> we became positive because we went down to 14% of stock trading above the 15-day moving average. everything is moving down. the short-term market level, you have the indiscriminate selling. we liked the buying panic in the market on friday off the low that is typically there is more

most m momentum you are oversold on the met tricks >> you upgraded bonds. this is contrary to other portfolio mappnagers you are concerned rate hikes impacting the general environment? >> we have been underweight. our lowest allocation in the last decade. yields have moved up and become more productive. we have increased the fixed income exposure. yields moved up 1% in less than a month. there is value there we are seeing some credit tu opport opportunities. >> rising interest rates thought to be constructive financials. why are you jumping off that boat >> we have been underweight on

financials for several months. it has been all about financials now it is more about the economy and the financials focused on the economy which is slowing down globglobally i would not be surprised to see a bounce in our view, the earning trends are not that strong relative to the broader market >> keith, jay powell speaking later today. we just mentioned it what do you expect to hear from him and how do you expect the bond market to react >> i don't know if he would say anything that would be surprised. he released something over the weekend that stated his focus is on inflation i'm not looking for mr. powell to be a catalyst for the market. the catalyst is the oversold and better news out of china overnight. this rally probably has caught people by surprise i don't think powell is the main

catalyst today >> keith lerner, thank you one last check of the futures now. in the green this morning. very positive start to the day dow futures look like they are up over 400 points remember, it is still early. nasdaq well into the green that does it for us on "worldwide exchange. "squawk box" is coming up next

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good morning stock futures pointing to a

rebound after the nasdaq fell 1% to start the week. retail earnings could set the tone for today's session we hear from home depot and walmart. new this morning, musk says his deal for twitter cannot move forward without the clarity of fake and spam accounts united airlines is upgrading the forecast on strong demand for plane tickets. it is tuesday, may 17th, 2022 "squawk box" begins right now. good morning welcome to "squawk box" here on cnbc live from the nasdaq market site in times square. i'm rebecca quick along with andrew ross sorkin and brian sullivan joe is off again today u.s. equity futures.

things have been shaping up well if you get a look at the boards. the dow futures are indicated up by 433 points. nasdaq is indicated up by 288. the s&p indicated up 72 points right now. strong numbers after the so/so session. s&p off 15 points. the nasdaq as andrew mentioned down by 1% a decline of 142 points. that is a 1.2% drop. check out this morning good numbers as we are hearing from the retailers. if you are keeping an eye on the treasury yields. things are still where we were yesterday. 10-year yielding 2.908%. earnings just out from home