pick an order, print everything you need, slap the label onto the box, and it's ready to go. our costs for shipping were cut in half. just like that. shipstation. the #1 choice of online sellers. go to shipstation.com/tv and get 2 months free. it's 5:00 a.m. cnbc. tech facing its longest losing streak in more than five years. >> futures are fighting for gains, this as apple's unveiling their iphone event today. and in europe. the spigot is still shut off when it comes to natural gas now policy makers are racing to cap prices and save a region heading toward recession. plus crypto crashing once again as one of the biggest

players in the block rolls out a major systems upgrade. what investor mark cuban thinks about this. and bed bath and beyond looking to soothe its consumers after the death of one of its consumers. it's wednesday, september 7th. you're watching "worldwide exchange" on cnbc. good morning, good afternoon, and good evening. welcome to wherever you are in the world. i'm see ma mody in for brian sullivan we did lower in yesterday's trade. right now we're indicated higher with the dow up by 61 points, nasdaq by 41 points, this after another down day for stocks yesterday that saw the nasdaq end lower for a seventh session in a row, its longest losing streak since november 2016

it's now more than 28% below its recent all-time high let's take a look at what's happening in the bond market yields continued their climb higher, their highest level since mid-june, yielding about 3.31%. in the oil market, it's been a volatile couple of days for crude oil falling once again brent crude at $93 and change, up slightly at this hour, natural gas down about 1.3%. in crypto land we're seeing bitcoin and ether at this hour let's get a check. bitcoin bracing for another downturn, below 19,000, trading at 18807, ether, 1523, down 3% at this hour. that's a look at markets, but let' let's go around the wo. some weaker than expected trade

data out of china. stocks were down about 1.4%. things are just getting started in europe. taking a look at early trade there, markets are down. we're in negative territory. speaking of europe, president biden speaking for the first time last night with the uk's new prime minister liz truss after she officially took office joumanna joining us from london. >> that's right. the british leader paused a slew of cabinet appointments to make time for a conversation which the white house said a deepening cooperation on nato. now, speaking to the president after holding her first call with ukraine's volodymyr zelenskyy, she told biden she looks forward to working closely. there's one issue where truss and the president may not see eye to eye, and that's about ireland.

biden who's of ireland descent talked about the good friday peace agreement this is amid disagreements. biden could meet truss again as soon as this month with the general assembly meeting in new york city, and, of course, all eyes on how the relationship between the two sides evolve as we continue to see how things evolve as well on the northern ireland protocol in the uk, s se seema. >> thank you for that. let's get to some of this morning's top corporate stories. bertha coombs is here with that. good morning. >> good morning, seema one of the largest unions in the u.s. is formally launching an amazon division with the sole focus of unionizing amazon worker that move by the teamsters which has more than a million members

comes after amazon won their first victory in staten island, new york, earlier this year. no comment from amazon just yet. bed bath and beyond hoping to ease some investor concerns around leadership and its turnaround plan promoting its head of accounts to an interim chief financial officer following the soucie of its cfo gustavo arnal. the stock closed down 20% yesterday. high inflation hits consumers and businesses that's according to the deutsche bank's ceo speaking at a summit in frankfurt he said they need to act quickly, adding, quote, the longer inflation remains high, the greater the strain and the higher the potential for social conflict these were some pretty ominous words, seema. >> there it is again, the "r"

word. two areas getting hit hard in recent days first, tech. it's extending its longest losing streak today, down seven sessions in a row. tracking the etfs like qqq also down sharply in the past month and year the risk off trade in bonds as well, specifically high yield, take a look at the jnk and hyj "the wall street journal" highlighting the financial pain across the junk-loan market with them hitting their highest levels since october of 2020, with more expected in the weeks ahead. for more let's bring in the founder and ceo and cnbc guest

i'll start with you. any cause for concern as to what it can tell us about the broader move in the equity market. >> hey, seema, great to see you. i think focusing more on the equities market, it's really interesting to see the risk happening. you can see the investors have more of an appetite for the investment trades which has been a historically tough time. when that index is down, it averaged 3.4% during the month when you see that index being up, it's been around flat. so investors have seen what's going on with inflation. they have the comments from the fed and fed chair, and so, you

know, a lot of what investors are doing now, and i think it's smart for investors do is play the patient game if you're not looking for longer term plays, seema. >> and what do you make of the selloff? since the lows we hit back in june, the nasdaq has rallied about 20%. the last trading sessions, we've givenen up a lot of that. >> hello, see ma it almost feels like before jackson hole, the market got too optimistic about the federal reserve changingeing tack, so i feels like we're in a readjustment period, a bit more to reality it seems all too normal. i would not be worried about what's happening in the higher market the bonds are running at close to historical lows, so we're not

too concerned about those developments. >> okay. delano, what is the tech trade right now? are you buying the dip in any of these tech names i was looking at nvidia down 65% from its november high. >> i'm usually someone who's optimistic in the sense of looking for a longer-term place to buy there are two options. i think, one, investors could sit and wait and be patient and make a motion one way stronger or another based on emotions right now because there are a lot of emotions. the bounce was sharp there was an emotional play from a lot of investors at the time there's also an option to look for long-term play you mentioned nvidia that has himars gins, has cash flow you look at a company like microsoft as well with an economic trade those are the two options that i think are the strongest for investors to invest at this point, seema. >> andrzej, are you seeing more

invests allocating more money toward bonds versus equities >> well, it's the horror stock of the year. it's fair to say that the outflows from the asset class got stopped, and it's a positive sign to see. people are coming to a conclusion that when something like u.s. high yield is paying you close to 9%, it is a time to consider getting back into fixed income investments, especially those that have shorter maturities, when you are less worried about rate sensitivity of the asset class we're also seeing more activity with an investment grade for h high-quality assets. those are attracting a fair amount of demand from investors, so we're seeing tentative signs of improving demands for fixed income after a difficult start of the year. >> yeah, delano, that seems to

be the common theme. find those high-quality names, whether it's fixed income instruments at a time when it's uncertain. we have trepidation around what the fed will do later this month. what would you say is your top trade right now? >> yeah. going back to, i guess, where we like to stay safe, we like to see cash flow, i know we talk about apple later on in this program. apple is one to look at and microsoft, and not forgetting for investors the dividend plays that are paying some sort of cash quarterly for investors as we wait out the volatility and growth check there's still going to be more volatility in the near term as you look at what potentially could happen with different sectors and different print, especially with unemployment in q4-q1. i think you go back to safety with it. >> andrzej, you're on target

right now at 3.31% >> we think we can drift a bit higher from here, but not high away from the levels we're at now if inflation cooperates and continues to come down from current levels. >> okay. we'll leave it there andrzej and delano, thanks for getting the show started with us. when we come back, russia's vladimir putin blasting europe and the u.s. over the global energy crisis. his comments coming up. plus, apple set to unveil a host of new products today a sneak peek at what's in store coming up. yes, we've got that. why mark cuban is comparing yp to crtothe internet in the early days we're back in two. help make trading feel effortless and its customizable scans with social sentiment help you find and unlock opportunities in the market with powerful, easy-to-use tools power e*trade makes complex trading easier

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welcome back to the latest on europe's energy crisis president vladimir putin saying this morning germany and the western sanctions are to blame for the shutdown of the one nord stream pipeline, blasting an aprosele by the eu for a price cap on gas as stupid, adding demand is high eu ministers will hold a meeting on friday to discuss the plan. higher gas and electricity gases and not physical gas shortages pose the biggest downside risk to europe's economy. they forecast the growth to increase by 1% from peak

joining us now a senior economist from oxford economics. they've made the biggest cuts to consumption today? >> they're in relatively good position going into winter they have managed to cut gas consumption that's so crucial to get through winter the country most at risk at this point appears to be italy where very little gas consumption savings have been made to date and which is most at risk if supplies are disrupted going further. >> this emergency meeting being held on friday, what do you expect eu ministers to discuss and the solutions that i'll come forth with >> there's currently a flurry of activity at the eu national level with the fiscal and regulatory interventions and energy markets that would bring down the prices for consumers

and to safeguard businesses. currently there seems to be consensus around imposing some revenue cap on energy producers selling, particularly energy producers. there's going to be taxing of renewables and others with low operating costs and also to sbs die idize it this is out of measures that may come later on. it's currently moving. we'll see how the chips fall. >> how bad could it get this winter. >> there was gas rationing that caused physical shortages that

would require our rationing and basically shutting down parts of our economy and industry, which would mean severe recessions where we are now, we see the risk much less likely. we look at storages even without russian gas. currently we just fore see that governments will need to step in to on the one hand subsidize the most vulnerable, but at the same time bring in measure to see prus energy demand because we simply don't have enough energy as we would like these two goals are contradictory, so it's a fine balancing act. at the moment we see the price mechanisms and the high cost of gas and electricity as to being part of it. >> this energy crisis is going to lead to a deeper recession across europe. how do ecb policy makers respond? there is an interest rate meeting tomorrow

you look at inflation first and foremost if you look at the european crisis, we have whatever it takes that stops the back markets in southern europe during the covid pandemic. we've had an unconditional asset program that's wound down, and going into this crisis, it's much less favorable for governments where the ecb provides much less support. >> i'm curious does this mean that the euro weakens even more against the dollar then? >> the euro is driven by the disastrous trade for europe and the recession that we're in. the u.s. is in a much better position we expect it to outperform and the euro to remain weak. it would unlock the gas supplies that we're so missing in europe. >> we'll see how that impacts

the trade imbalance. daniel, great stuff. thanks for walking us through all of this. we appreciate it daniel kral of oxford economics. big changes coming to instagram as mark zuckerberg and the company look to change tack. >> announcer: today's big number 55.3 years that's the average age of new ceos hired at big u.s. companies in 2022, according to chris colder associates. that's up from 26 years in 2005. go emerson software. go science people. go breakthrough meds and safe science. go space age welds for super silent cars. go big. or go home. from software that delivers new cures at warp speed, to technology that makes clean energy reliable, emerson innovation helps make the world healthier, safer, smarter and more sustainable.

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let's get a check on this morning's headlines. nbc's phillip mena with the latest. the documents seized from former president trump's florida home included highly classified information about a foreign government's nuclear program that's according to "the washington post. citing people familiar with the matter, the post reports some of the documents contained

top-secret u.s. operations, and they were, quote, so closely held, only the president, a cabinet-level or near cabinet-level could authorize others to know about them. she added no one at mar-a-lago should have been allowed anywhere near them the doj declined the comment the paper says the fbi has not commented. but we did hear from a trump spokesperson on twitter serving as a propaganda arm in the biden administration and precluding to leak information. former trump adviser is facing indictment in new york. bannon confirmed to nbc overnight he's under investigation by the manhattan district attorney after "the washington post" reported he plans to surrender tomorrow. last year the manhattan d.a. opened a case in connection to his case to support a group looking to build a border wall there were other charges that he

and several others defrauded thousands of door nors in the we build the wall campaign. however, that only covers federal charges. in this case it's from the state. in a statement to nbc news, bannon said, quote, i'm never going to stop fighting in fact, i have not yet begun to fight. they will have to kill me first. those are some of the major stories here i'll send it back to you. >> phillip mena in new york. straight ahead, china's xi jinping and russia's vladimir putin reportedly are expected to meet face-to-face for the first time since the war with ukraine began. that's coming up. check us out on ape,pl spotify, or other podcast apps we will be right back.

policy says they won't be going anywhere any time soon joom gearing up for the big event with the tech giant expecting to pull back the curtain on a brand-new iphone will all the hype propel one of the key stocks in the market and shopping shift as meta looks to scale back on its instagram and pivot toward more profitable endeavors it's wednesday, september 7th. you're watching "worldwide exchange" on cnbc.

welcome back i'm seema mody in for brian sullivan it's 5:30 on the east coast. the dow was up about 60 points at the beginning of the show now losing 30 points this comes after the nasdaq posted its longest losing streak since 2016 it's now down about 27% from its recent high. in fact, closing down. a lot of pain in tech. turning to the bond market, treasuries continuing their march higher the ten-year yield currently sitting at 3.31% let's also hit oil prices slightly higher, despite demand concerns over continued covid curbs in china wti crude, 87.64%.

so we're higher by 0.08% same with brent crude at $93 a barrel. let's get a check on the top stories. bertha coombs with those hi, bertha. >> reporter: >> hi, seema a court unsealed evidence from the fbi's 20 probe of the republican burr from north carolina burr was accused of making trades using non-public knowledge about the looming threat of the pandemic, selling more than half of his and his wife's equity holdings in february of 2020 the justice department launched an insider trading investigation into burr which eventually concluded without criminal charges. a spokesman for the senator did not respond to a request for comment on those documents >> elizabeth holmes is seeking a new trial citing new evidence. one of the prosecution's star

witnesses visited her house to express regret for his role in her trial. holmes said the former theranos labdirector made the unannounced visit last month and told her partner that the government had twisted his testimony. her lawyers argue that the apparent statements qualifies her for a new trial or a hearing to discuss that evidence. and instagram is reportedly planning to drastically scale back shopping features on its platform that according to reporting information citing an internal memo the meta owned social media company we've been told will shift its priority toward projects that affect directly advertising. instagram will test a simpler and less personalized version of the shopping page over the next few months i have to say that those shopping pages are distracting i find myself just going down the rabbit hole. >> i'm with you.

same here. i certainly have bought a couple of things that i've been shown on instagram bertha, thank you for that appreciate it. let's pivot to tech and the highly anticipated launch event for apple, its first in-person one since 2019, the company expected to pull back the curtain on several hardware products including the new iphone 14, this following record earnings for apple's third quarter amid apple headwinds for most of the tech sector. taking a look at the stock ahead of the event, we're trading at $155, up about 0.4% of a percent in premarket trade it's off by 13% this year. for more, let's bring in the founder of big tech technology and cnbc senior contributor. also, alex, it's great to see you. you've spoken so passionately about apple iphone upgrades. what makes you so confident

apple can pull it off again. >> this is what apple does every year releases a new iphone, incremental, for sure. the company still manages to be a powerhouse you're looking at $190 billion in iphone sales last year. and if you take the iphone 13, it doesn't look different than the 1. and i don't anticipate the 14 is going to look much different than the 13, but even with the incremental updates, you still see the company act as a powerhouse truckload ofiphones after truckloads i think that's what's going to happen this year as well. >> okay. i was looking at analyst notes last night most wall street strategists are expect a $100 increase for the new iphone, more or less is that what you're forecasting? >> it's meant as being done, but i think the earlier point, most investors expect this incremental, not a dramatic change.

i think largely incremental changes versus anything dramatically different. >> okay, alex, this is the first in-person meeting since the pandemic ho . >> how incremental is it for the investors as well? >> they don't matter as much as they used to krish is saying the macrois is where we end up going. are people going to wait another year because the household goods cost more. your 12 and 13, even your previous edition iphones, maybe

you can live off the ten for another couple of years. we used to hang onto every word tim cook said. what's going on with the rest of the economy? he doesn't have to say anything inspirational, and that wouldn't change the apple story. >> i guess it also speaks to the recent price action, krish the stock has underperformed in recent weeks they also looked at the historical performance of apple on a launch day and found the stock has tended to have a negative reaction. so what's your trade on the stock right now? >> yeah. i think it's largely true. it's still a great story yeah, the risk is what happens to be completely honest, we model iphone units down actually

[ indiscernible at least some kind of mo modern modernization. the bottom line is it's still a good stock, a good story, because they still have very good -- free cash flow generation i do think in a modest recession sce scenario, people gravitate toward higher quality names. apple is one of them there's a risk with profits, and it just has to do with design and consumer, which has been good so fafrmt let's see how it goes in calendar 2022. >> alex part of the story has been outside of the u.s., china struggling with slow ddowns. how do you think apple manages that risk? >> right now apple is doing a fine job managing the china risk that being said, i think it's

underappreciated how big a risk it is. not only in terms of the shutdown we don't know how they're going to react we've seen political leaders go over and start to ruffle the feathers of the chinese government is there a scenario? i hate to say it there's possible there's a war and apple has to take a stance there. apple is so overleveraged in china that any one of these little quakes can end up causing serious damage to the company's business it's holding its breath. managing its way through the shutdowns. but if there's a bigger shock than we've seen before, the company is exposed and could end up seeing serious damage there. >> krish, apple has made steps toward producing or investing more toward india, but it's still not enough given its investment in china, right >> that's right. i think it's overleveraged to china at this point.

it affects the supply chain. i think they're moving slowly, but it definitely has a huge presence both in terms of suppliers in china i think to alex's point, there's risk always, but the biggest challenge, i think, for investors is that political outcomes are very hard to handicap, and so i think you have to go with the assumption with predicting anejdra matic changes. >> we'll be waiting for that for now, we'll wait for the iphone event krish sanka recommend and alex kantrowitz. meanwhile there's details on the face-to-face meeting since

russia began the invasion of ukraine this year. eunice yoon is joining us. where will they be meeting >> reporter: so far china has yet to confirm oversea travel plans for president xi, but russian state media have been saying that president putin and president xi are going to be meeting face-to-face at a chinese forum next week. if this is true, this will be the first time president xi has traveled outside of china since the early days of the pandemic and as you mentioned, seema, it would be the first in-person meeting between xi and putin since the start of the ukraine war. the kazakh and uzbek say it's

the first time it's placed no limits as it's been described relationship with president putin and also president xi's satisfaction with a zero covid poll said and finally his confidence to consider leaving the country at a time when we're heading into a big political reshuffle in mid-october because these couple of weeks ahead of these big congresses is usually a time when we start to hear a little bit about horse trading, some jockeying position among leaders and officials, and if he is actually confirmed to leave at this time, that suggests that he's feeling quite secure in getting a third -- an unprecedented third term, which would give him another five years at least seema? >> i imagine quite significant for xi jinping, potentially his first foreign trip in 2 1/2 years. what do you think would be on

the agenda i imagine it would be many different topics, but what do you think will be top of mind when those two leaders meet? >> i think you're hitting the nail on the head i'm sure it's going to be the energy situation, like you said, of the western alliance and what to do about it i think, of course, the fact he would also be going to central asia is indicating central asia is a really important part of president xi's plan. it's only been about ten years since he started his initiative. it's really no surprise he would want to show there's a lot of importance not only with president putin but also with central aza and really bringing that part of the world into that part of the world. >> we'll be watching thanks for joining us today. coming up, crypto crash once again even as one of the biggest spaces rolls out in the highest anticipated upgrade.

what it could mean for the future of the sector. plus why mark cuban is mping coarcrypto to the early days of the internet now the full story on "worldwide exchange." when hurting feet make you want to stop, it's dr. scholl's time. our custom 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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save 50% on the sleep number 360 limited edition smart bed. ends monday. now time for your big money movers three stock stories of the morning. first up is coupa software shares are soaring after the company reported better-than-expected second quarter revenue and gave strong guidance for the year.

subscription revenue climbing more than 20%. second is ui path. the company is cutting its outlook for the year citing current headwinds. stock is down 21% in the market. stock three, newell is cutting its outlook. retailers have ordered fewer products and inflation continues to pressure its customers. newell will expect sales to decline this year. stock is down 4.6%. another rough day shaping up for cryptocurrencies, this after bitcoin closed at its lowest level since june down about half a percent. it's not just digital assets stocks in this space are also getting hit hard coinbase coming off its 13th

down day in 15 get this, more than 75% this year. microstrategy, ride blockchain and more also sharply down cnbc's mackenzie is joining us now. are we seeing a new shift in sentiment? >> good morning, seema it's not necessarily there's been a new shift crypto prices are based on one or two things. also it has a lot do with macroeconomic events so when we see the fed boost up the interest rate hikes, we see crypto prices move on that the fed chair recently made it clear we're likely headed for another big bump-up in september that will suck liquidity out of the system on the regulation front this week is the deadline for federal

agencies to respond to president biden's executive order on cryptos. so we're expecting to see their recommendations for how they plan to regulate on everything ranging from the environmental implications to law enforcement to consumer protections. we recently had the house committee on oversight and reform that major crypto exchanges like ftx, by nance, and coinbase are get back to what they're doing to actively protect their consumers. meanwhile the fbi is getting involved, and they're asking that defi beef up their security experts as hacks wipe out billions of dollars in investor money that's been stored in crypto wallets the accountability really stepping up in an appreciable way in the last year, not to mention the fact that three of what were once titans of the crypto industry are now in bankruptcy court in the southern district of new york

so investor confidence has really been rocked in the last few months. >> mackenzie, on top of the price swings, ether, which is outperforming on the year by a wide margin, finally rolling out this system upgrade. what can you tell us about it, and how do you expect investors to respond >> this upgrade is years in the making it's called a merge. it's a very significant event. going to be historic for the entire industry, not just this blockchain monday was the last step that needed to happen ahead of the big merge. it went well we're expecting the upgrades to take effect sometime between september 13th to the 15th the reason it's so significant has to do with a couple of different things one is mentoring ether they will suddenly consume a whole lot less energy. and then the second big point here, and this is why analysts think they've been outperforming bitcoin as of late what's expected to happen post-merge is ether will become

a deflationary currency. when you have a reduced supply, you think those holding the token will be of a greater value proposition there, you know, basic supply and demand dynamic, and that's why you're seeing the call put ratio indicating a lot of investor confidence that doesn't even get into all the technological benefits that are offered by the upgrade, seema. >> that's fascinating. i remember a lot of times it would spark investor interest saying it would be a better more efficient cryptocurrency so we'll see how investors respond. mackenzie, great to see you. >> thank you. before we let you go, kara swisher sat down with billionaire investor mark cuban at theconference last night. he shared some of his thoughts on crypto and its future. >> crypto has a place for sure, but what's missing is new applications just like in the early days of the internet, we would say, the internet is old and boring because we haven't seen anything new, and it really took for

mobile to come along to really propel it going forward, and we don't have that right now for crypto, so it's kind of boring, and it's going to stay boring with defis and nfts as collectibles and other little things. >> nothing interests you. >> no, i'm very interested in investing, but it's still mackee there. what's going on there? >> it unlocks a lot of potential for ethereum why it's important, it's the backbone firefighter defi. they don't feel like there's been a lot of innovation in that space, not a lot of exciting things happening in defi right now. of course, defi has promised to be this bastian of cutting out the middle man, financial services where you don't need a barracker or a lawyer. a lot of functionality will ultimately be possible we're talking about greater speed, we're talking about

greater scaleability, lower fees, and so that's what -- i don't know that i necessarily agree. i think we're going to see big changes in that space. >> mackenzie, thank you. appreciate it. >> thanks. as we head to break, a reminder, be sure to sign up for the most powerful investment event of this year cnbc's deliver i alpha use the code on your screen or go to deliveryalpha.com right now. we'll be right back. when tired, achy feet make your whole body want to stop, it's dr. scholl's time. our insoles are designed with unique massaging gel waves, for all-day comfort and energy. find your relief in store or online.

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only at vanguard, you're more than just an investor—you're an owner. we got this, babe. that means that your dreams are ours too. and our financial planning tools can help you reach them. that's the value of ownership. welcome back to "worldwide exchange." a busy day for investors the beige book out at 2:00 p.m. eastern. we'll get results from dave & busters, game storngs and american eagle outfitters. fed speech from tom barkin at 9:00 a.m loretta mester at 10:00 a.m.

lael brainard at 12:35, apple expects to discuss its latest products including iphone 14 at 1:00 p.m. eastern. to the market, the nasdaq is notching its longest losing streak since late 2016 for more let's brick in peter boockvar, chief investment officer. he's also a cnbc contributor peter, good morning to you why would you say tech is underperforming in recent weeks? >> good morning, seema i think it has to do with the reaction sell racing in interest rates, both the short end of the yield curve and the longer end we've seen a pretty tight relationship over the past couple of years, at least late beginning last year with the rising rates and the markets taking more of a finer tooth comb through tech because of the higher valuations, making it

more sensitive. >> there seems to be this inverse relationship between growth stocks and yields is that the playbook going forward? if yields rise faster than expected, you have to be a bit more cautious about growing sectors like tech? >> i think that helps to explain the selling up until recently, but i think now investors are now beginning to question, okay, what's the slowdown in economic activity going to have on these tech companies because we're realizing tech is not immune from a global slowdown tech is not immune from this short strength in the dollar in fact, technology probably has the most sensitivity to the strength and the dollar because it's the most international in terms of where they do their business. >> the dollar at a 24-year high against the yen, a 20-year high against the euro these are historic milestones. how much stronger can it get, peter? >> it is pretty amazing. i think the markets are trying to sniff out when the fed will

begin to slow down the pace of rate hikes i think if at their september meeting if they go 50 instead of 75 and the ecb, for example, this week goes 75 instead of 50, i think that could be enough to slow down this rally on the dollar because from what i see, it seems that the rally and the dollar is mostly an interest rate differential thing. it's the fed that's more aggressive than all of these other central banks, particularly the bank of japan, and if they start to blink and start to get worried about overtightening, that will be enough to slow the rallying on the dollar. >> we're seeing a bigger selloff there than broader market is that a cause for concern >> i think it is people have to watch not just the high yield market but also the leverage loan market which is part of that universe because of the dramatic rise in interest rates and worries about cash flows because of the slowing economy, and it will be

reflected in those bond prices >> okay. we'll leave it there and be watching the hyg that's the high yield. thanks for your time the dow is currently up 55 points in premarket. qujoinusu for ing "sawk box" is next ♪♪ ♪♪ be ready for any market with a liquid etf. get in and out with dia. another busy day. be of course it is -et you're a cio in 2022. so what's on the agenda? you guys have a look at that and see... morning security briefing - make that two. share that link. send that contract. see what's trending. check the traffic on your network.

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good morning red flags for the global economy. we'll tell you about a new downgrade for china's gdp and the warning about a potential for a recession in germany apple set to unveil its latest iphone at a launch event today. we'll tell you what to expect. and another activist investor taking on chevron, but this time coming from the other side it's an anti-esg activist calling on the company to increase oil production. he's going to join us live to

explain. it's wednesday, september 7th, 2022, and "squawk box" begins right now ♪ good morning, everybody. welcome to "squawk box" right here on cnbc we're live from the nasdaq market site in times square. i'm becky quick along with joe kernen andrew will be joining us live from seattle and will join us later, speaking with howard schultz, starbucks' ceo and also laxman narasimhan. right now the futures indicated higher the dow up by 63 points, the nasdaq by 40 of course, we saw a similar theme yesterday. the dow was up by 200 points yesterday at thi