it's 5:00 a.m. at cnbc here is the top "five@5. markets looking to keep the momentum going. key interest rate decision on deck with the european central bank looking to hike to combat inflation p we will preview what to expected from the ecb. and apple officially pulling back the curtain on a slew of products, including the latest iphone launch. will the stock get a pop shares of gamestop jumping

after a new deal with a crypto platform are you ready for football the nfl set to kickoff the season as online gambling p platforms look to cash in on bets it is thursday, september 8th. you are watching "worldwide exchange" on cnbc. good morning i'm seema mody in for brian sullivan at this hour. let's kick it off with the trading day and how it is shaping up the futures are trading slightly higher dow up 6 nasdaq up by 4 stocks putting the stop to the selling streak dow gaining 1% nasdaq jumping 2%. let's look at the bond market.

the 10-year treasury yesterday was at 3.3%. we're below that at 3.25% at this hour. let's turn to the oil market we see volatility there. crude prices falling to the lowest level since russia invaded ukraine. let's look at wti crude. we are higher. $82.11 brent crude at88.16. bitcoin and eit ethereum are hir bitcoin up by 1% above $19,000 around the world we go in asia ja japan's nikkei surging 2%. taking a look at early trading in europe ahead of the ecb meeting. ftse 100 up .50% france is higher by .75%

sticking with europe, a rate decision on deck from the european central bank. arabile gumede is here with the big decision ahead >> reporter: we have a big decision ahead the ecb is going to set the tone on what exactly needs to be done we saw canada raise rates by 75 points will that be the same for the ecb? christine lagarde will focus on the messages for europe. front loading those interest rate hikes which means the economy perhaps can get central stability going through the rest of the year and only increasing rates. speaking to analysts, that will be the case front loading the hikes. we will see a few come through before the end of the year economies may begin to flat line by the end of the year

france expected to have zero percent growth the last three months of the year in that final quarter. how exactly the interest rates situation is laid out from christine lagarde later today will bear just how much pain the inflation pressure has put on the rest of europe >> arabile, thank you. we are awaiting that decision. let's get a check on this morning's other top stories. pippa stevens is here with us. >> good morning. the chinese city of chengdu extending the covid lockdowns. rules were expected to be lifted yesterday, but officials late in the day said the virus some are. of the 21 million residents, 16 million are under lockdown a number of districts have been released from full lockdown. residents still have to go through mass testing tomorrow and sunday sticking with china, president

biden is delaying his decision on whether to remove trump era tariffs on imports of chinese goods. the president making the decision while his administration looks at ways to help businesses. last week, the office of the u.s. trade representative announced review allowing businesses to weigh in on whether any particular tariff is costing jobs or competitive edge. and google aimed at paying publishers ts is a near behind schedule for the launch. the negotiations with media outlets over google news has stalled. some feel google is not paying enough for content and others want to wait to see what happens with the bill in congress giving publishers stronger negotiating power. >> just another challenge. alphabet down 24% this year.

pippa, thank you for that. markets putting a stop to their most recent slide wednesday with the nasdaq snapping the seven-day losing streak the worst stretch since 2017 with the rally, stocks are a down trend especially tech. investors fleeing the sector as worries over a slowing economy and more rate hikes from the fed push investors away from risky parts of the market. could now be the best time to dive back in let's bring in deena shakir. first to the broader markets, ded e deena, from inflation and growth than what is the main catalyst with the under performance in tech >> good morning, seema, great to be here. we tomorrfocus on private markes the public markets have an impact on valuations

it may take longer to get to the private markets, but we have seen that. there is so much volatility. everything from the macro to political to inflation that is directly impacting private markets now sooner than expected when it comes to tech, these are higher growth and higher risk investments where often times in the moments of market volatility there is more of an impact on the more secure sectors. >> how much would you say valuations have come down based on the performance of public markets this year, deena it has been volatile i emerimagine that impacted stas or how much your team wants to allocate >> yes and no. on one hand there is an unprecedented amount of dry powder large venture funds raised that still have capital to allocate that is the case for us. we continue to be actively

investing. certain rounds especially at that mid growth stage between a series b and series d are seeing rounds come together slowly. i think there is a bit of hesitation among some investors to price especially as you near more of a public market opportunity. what do those comps look like? some we have experienced in 2021 was related to what we see in the public markets that looks different today howe however, i continue to be optimistic this is a moment in time we are not day tr traders now the moment is excellent to invest in the long-term in inve investments. >> i know you invest in technology particularly health care and tech amazon acquiring 1 medical for $4 billion we are seeing more m&a what do you make of the deal

>> absolutely. we will see more across the board. that is one case when a giant makes a large acquisition. it is not amazon's first rodeo with health care it signals the large opportunity in health care across sectors. it is showing that health care is not only a separate sector, but transcends into tech and security i expect we will see more m&a where we see less activity on the public side. that is good news at the early stages that will only accelerate innovation. >> the ftc is reviewing the deal in general, regulation, deena, is a challenge for big tech. how do you navigate when you invest in new companies? >> you know, i do focus on health tech where there is not only the security risk, of course, but it is one of the more regulated sectors it is one that has tonot seen

enough innovation. especially in areas of women's health and infrastructure and r r&d. we are equipped to do the challenges we have seen incredible progress with companies that can take the challenges head on >> deena, thanks for joining us to talk tech deena shakir when we come back, the crypto deal that has gamestop investors showing more love for the stock. shares on the rise this morning by 9%. plus, global energy concerns fuelling the climb in uranium stocks later, disney rolling out new content on the disney plus platform will it be enough to give it an edge in the competitive

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welcome back the energy crisis in europe and concerns of our energy security in the u.s. is forcing officials to take another look at nuclear power as an option to keep the lights on for millions that renewed focus giving uranium stocks a jolt. pippa stevens has that story >> seema, in an otherwise lack

luster month for the market, uranium stocks are a bright spot investors are piling in the space with the bet it will see a surge. two funds that track the system are both in the green over the last month cameco up sharply. paladin also rallying. companies focused on u.s. production including energy fuels. nations around the world are pointing to nuclear's response with the europe in the throes of the crisis the eu recently designated nuclear as green under the tax system of sustainable investment japan and south korea will add more nuclear in the u.s., california lawmakers voted to keep diablo canyon online. assets in global nuclear and

uranium topped $3 billion this year in funds. despite the gains, john champalia said the trade is not crowded. he believes there is more runway ahead thanks to robust interest to investors seema, with double digit gains in the last month, you wonder if a slowdown is coming >> and ukraine and russia driving the prices higher. what role does russia play with nuclear power? >> they are a major player in the trade. they account for 40% of the global uranium enrichment market they are a key player. remember, nuclear power in the u.s. is about 20% of our overall grid you can't just turn that off right now, utilities are still taking delivery of uranium from russia under previously agreed

contracts. the longer rusrussia's war in ukraine wages on, you have to wonder if the business will slow and countries are skcrambling. >> we heard europeans complaining of nickel and the scarcity in europe >> uranium is found everywhere and including the u.s. the issue is dgetting it out of the ground and the multistep process before it gets to the rea reacting reactor we only mined 130 million pounds that is part of the case here which is the market is in def deficit. right now, we are still working our way through supplies after the fukushima disaster cooled the market broadly

going forward, that will catch up with more demand and as of right now, we are not seeing new supply come online >> this is a fascinating story pi pippa, thank you the promise of nuclear power. still on deck. amazon ceo bucking the trend among leaders on returning to the office the strategy he is taking for the ecommerce workers when "worldwide exchange" returns in two. 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. power e*trade's award-winning trading app makes trading easier. with its customizable options chain, easy-to-use tools,

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welcome back it's been nearly three years since the launch of disney plus. to mark the occasion, disney is calling today disney plus day. rolling out content and promotions across the marks. the streaming service has been a success compared to ea early estimates. the stock has been less successful down nearly 18% since the disney plus launch and with all of the buzz around "rings of power," what can disney do to keep the momentum going? joining me now is sara fischer >> good morning. >> what should we expect from disney today and over the weekend? will it be enough to move the needle >> it will be a big day for disney fans. not only is there exclusive looks at trailers, et cetera, a lot of content will cater to people all over ages and families

really, the "thor" movie coming to disney plus "pinocchio" and you get a lot of content with titles from abc and "dancing with the stars" and then "frozen 2" sing along disney plus has deals and look aheads for other products. perks for the disney parks and resorts. certainly marvel will hit theaters this is is meant to celebrate t disney ecosystem and the subscriber experience. >> because of the slowdown in the economy, sara, there is a broader focus on cost cuts and preserving margins. it is great they are releasing content, but is it enough to bring more subscribers to

disney >> it will be tough. especially where you see disney is growing if you look at the last quarter, they are facing saturation here in the u.s. and canada they are looking abroad for growth in disney's case, that growth from india and it is to be seen if the growth will continue now they no longer have the streaming rights for cricket in years past, when disney has the investor days, they would roll out a lot of content. you would get tons of details on marvel films and release schedules. what feels different about this disney plus day it is focused on the fan experience across the portfolio. i think that is to your point because disney needs to beef up subscriber totals for disney plus, but it needs to beef up the products that continue to bring from revenue for the company. looking at parks and resorts and maybe some of the releases it can use that money to bolster the streaming experience, but

for now, to your point, wall street really wants to see disney post profits while adding on disney plus >> on the topic of competition, sara, i want your take on bob iger speaking on the state of the streaming landscape. >> i don't think all streamers are created equal. i don't think all streamers will survive. there will be haves and have-nots. >> can you name names now you are not working in. >> i can tell you i believe netflix is going to continue to thrive they could have issues >> souring >> i'm a believer in disney. they have the ip they have proven to be successful >> that is the former ceo of disney from 2005 to 2020 there he just said, sara, the platforms, some of them will not survive. which one do you think

>> i think the smaller platforms will clearly have to figure out if they merge with another service or bought out. those would be right now paramount plus and combination of discovery plus and hbo max. they both have content assets. soccer with paramount. hbo max with the premium on original content i think bob iger is right. netflix and disney has lead. if you look at the numbers who are subscribers. both companies have over 220 million who pay. disney's includes hulu and disney plus. i think this is the two i mentioned and i think you have a bunch of other services. showtime and starz those won't be stand alones forever. they are bundles with other services i expect those to be rolled up

in other services that companies could compete as a third leg to netflix and disney. >> perhaps it leads to more consolidation over time. interesting to see how disney is down 27% actually out performing netflix down 61% sara, fascinating times. media landscape changing we like to talk about where it goes from here sara fischer let's get a check of the headlines outside of wall street frances rivera is in new york with the latest. >> seema, good morning four people are dead and three injured after a shooting pre in memphis. 19-year-old eziekiel kelly drove around the city for five hours shooting at people and one broadcast on facebook live the video shows the moment he was arrested a shelter in place order had been in effect for hours police say there are eight crime

scenes the mayor of memphis said the suspect was sentenced to three years in prison for assault, but only served 11 months and released in march. this morning, he faces multiple felony charges. steve bannon is expected to sur convrender and face charges. the former trump white house adviser will turn himself over at 9:00 a.m. eastern the attorney did not give details about the criminal charges bannon is facing last year, the manhattan d.a. opened an investigation into the connection into the group that was supposed to use private funds for a border wall. finally, mir merriam-webste adding words to the dictionary like metaverse and subvariant.

then just in time for the fall pumpkin spice. it is defined by the ingredients used in a pumpkin pie. seema, as you know, everything now has evolved in pumpkin spice latte. pumpkin spice candles. decorations. also pringles and hummus and pumpkin spice deodorant and car spray. >> frances, good to see you. frances rivera. still on deck, a federal judge taking elon musk to task in the legal fight with twitter. why she is slamming the tesla ceo in the abandonment of the takeover deal. follow our podcast if you miss us on "worldwide exchange" check us out on your podcast apps we will be right back.

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stocks looking to keep the rally rolling with the nasdaq snapping the longest losing streak since 2016. the gains may be short lived with futures muted at this hour. apple officially unveiling its newest iphone. is it enough to get back into the tech favorite? the nfl set to kickoff a new season tonight contessa brewer laying out the latest as football makes its

return it is thursday, september 8th. you are watching "worldwide exchange" on cnbc. thanks for joining us today. i'm seema mody in for brian sullivan it is 5:30 a.m. on the east coast. let's look at how your trading day is set up. after a rebound on wall street with the nasdaq gaining 2% in yesterday's trade. futures right now indicating a lower open we started the show higher the dow is down 16 points. nasdaq lower by 5. the 10-year treasury is lower as we await the european central bank interest rate decision. it is trading right now at 3.2%. we were at 3.3% yesterday. turning to the oil market. crude prices falling to the lowest level since russia i invaded ukraine on recession fears and trade data from china. look at wti crude at $81.32.

ice brent crude below $90 at $$ $87. let's get a check of the stories this morning with pippa stevens. >> shares of gamestop are surging ahead of the open despite reporting that sales declined kwquarterly and losses grew the company reveals a partnership with crypto exchange ftx. it will start selling gift cards at some of the stores as part of the union. the move marks the company's latest crypto venture after launching a digital wallet earlier this year allows transactions it is building for gamers and others to trade nfts the ceo of amazon said the company has embraced remote and hybrid work. amazon's policy is evolving.

jassy said most employees have returned to offices. the position differs from the tech peers with google and apple looking to get employees back in the office at least three days a week elon musk facing criticism from the judge overseeing his legal fight with twitter over the failed takeover bid. the judge ruling there were glaring deficiencies in how musk and his lawyers responded to the request for text messages he and a top aide sent about the proposed deal in the effort to abandon it she ordered that phone records about the techs be turned over the twists in the case are something. >> pippa, thank you. now to apple and its big event yesterday. the tech giant revealing upgrades to several of the products including the iphone launch and airpods. one take away outside of the bells and whistles on the products is prices unchanged

from last year drawing attention to shares of apple which are trading flat on the hour what do the products mean for the tech giant stock joining me now is ivan feinseth. ivan, good morning >> good morning. >> what did you think of the lineup iphone launch? >> great. >> you have a positive reaction. do you think it is enough to provide upside to the september numbers? >> absolutely. a tremendous install base that cycles through upgrades. we have a potential of over 250 million potential upgrades if you look at the frequency of the cycle. i think apple continues to deliver in quality and improvement and functionality. i think some of the new safety features and health tracking features are intriguing. i think that will drive consumer interest and the purchase of the products

>> many analysts expected apple to increase prices for some of the iphones. we didn't see that why do you think that is we know inflation is affecting all technology companies right now and not to mention the supply chain >> it is not about the sale of the hardware, it is the sale of the services as they introduce new phones with functions that can take advantage of the services, it is the growth of the services revenue. first of all, i think apple is a very efficient manufacturer. i think they are able to sometimes hold the line on cost. it is about bringing new people in the apple ecosystem driving the upgrades and driving increased subscription revenue for services the fact that the phone and watch include increased fitness and health care function, it will drive increased subscription to the apple fitness plus. >> 36 hour battery life. great for us who forget to charge their watch

if this is announcement is so great, why are we seeing the stock fall not just yesterday, but in the last month? >> historically, events have never been a stock moving or market moving event. it is an important part of apple's business i think most of what they announced was expected the increased camera and 48 mega pixel camera on the iphone plus pro and it's about not so much the introduction which is important. it is about the ongoing upgrade cycle and ongoing increase in services revenue that comes over time >> you think keeping a lid on prices was the strategy to continue to win in china where you have more price aware customers? >> yes it is a competitive market there are a lot ofapple, there e there are android phones made by

several others especially high-end phones consumers lean to spend on high end and expensive phones because people's phones are an important part of personal and professional life, they are willing to makes the expense there in the case of cutting back on other things the consumer is definitely committed and apple sells more pro phones than they do of the lower priced phones. they tend to run out of the pro phones it shows the demand is there and it is about all the growth of the services which is able to exceed over $100 billion in revenue over the next year. >> fascinating that half of the total revevenue comes with the iphone ivan, have a great day. let's turn to sports football fans, the new season is

set to kickoff tonight and return of the nfl looking to provide a bump for the bottom line of online gambling platforms. contessa brewer tracks the names. >> reporter: seema, good to see you. a number of americans are expected to bet this year according to the american gaming association. the survey indicates 46.6 million americans will gamble on a game and nearly half will bet online that's an 18% increase from last year a lot can change in a year take caesars 13 offered mobile gambling today it is life in 26 states. we are including ontario, canada 19 of those offer mobile betting. that expansion is happening across the industry. fuelling expectation for record setting revenue. the american gaming association

points out that sports betting revenue at commercial casinos is more than $3 billion for the first six months of the year up nearly 64% from the same period last year the operators are still looking at their promotional expenses and getting in the way of profitability. for now. i talked with the ceo of entertainment who is in a partnership with mgm resorts she told me about making money after turning the corner. >> we've always expected the promotional activity for this nfl season would continue to be strong that's how we expect it to be. we really are good at flexing marketing. that is what we are focusing on. everything we see is tracking as expected. >> reporter: we heard a similar target from other operators.

the group is clearly under pressure from this time last year draftkings is down 74%. it has seen a pop this week. penn down 62%. caesars is down 57%. you know, seema, if you are the person who likes to bet on americans love of football and sports gambling, this may be a buying opportunity >> we will see nfl starts this weekend. contes contessa, what about the harm of online gambling? what do you hear about that? >> reporter: i think part of it is when you see and hear a lot of advertising around it it is coming up and especially from parents and concern whether it will leave young people into problem gambling this is responsible gambling month. we see the industry try to put this issue front and center.

there is a lot of resources online through the american gaming association which has a game plan for responsible action or companies like attain which is putting science behind the addiction and markers that players are heading down the wrong path and they get disrupted early on the technology exists on mobile, seema, where they see that early on and help players take advantage of the resources that are available. >> that's encouraging. a lot of potential here. con tates contessa, thank you. tune in to the kickoff of the nfl season tonight on nbc and peacock. the rams take on the bills it starts at 7:00. the future of the office space as more companies look to wind down work from meho "worldwide exchange" will be

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portfolio is expanding over the next three years with more asking to resume office work let's talk about this and more with spencer levy at cbre. the firm behind the numbers. spe spencer, great to see you. we know it has been a challenge for companies to get employees back into the office what does that mean for the commercial real estate market? >> we certainly have seen a bit slower people coming back to the office than we expected. it is different by region. certainly slower in the united states, europe and australia than in asia nevertheless, it is -- people are coming back. what it means for the commercial real estate market is people are anticipating when people come back or greater leasing activity come back. the good news is we have seen a significant pick up of leasing activity in terms of new space versus the disappointing amount

of people coming back physically to the office. it is coming back slowly. >> where is it coming back confined to new york and san francisco? >> that is not the case. new york and san francisco were a laggard behind some other cities cities like dallas where i happen to be right now austin, texas. phoenix, arizona florida. southern and southeastern cities have been faster than the major markets like new york, san francisco and chicago. in those markets, we are seeing people slowly come back. >> what does that mean for pricing? commercial real estate owners are providing incentives to sign new litstings >> the way they give you incentive is not just rent, but money to fit the space we have seen an increase in those improvement allowances to give people incentives to come back into their space.

landlords are upgrading the physical building for things like having a more sustainable building having a more flexible space and outdoor amenities. all of these things outside of the individual space to get them into the building and then additional incentives given to the tenants. >> of the companies increasing office footprint can you talk about the companies? financial firms, banks >> it is all over in terms of which clients getting bigger faster i think different clients have different incentives to get people back. as a general matter, all of them have culture reasons and productivity reasons for wanting to get people back into the office some of them have regulatory reasons. financial firms have so have security at a higher level also firms that have more apprenticeship culture which is

accounting and law firms which need people back in the office to advance careers. >> we know return to work is a challenge for real estate. is rising interest rates a bigger challenge >> i think you hit the nail on the head i would say equal in terms of problems in getting people back into the office so people have the certainty of leasing the rising interest rates have been a significant issue in a number of ways first of all, rising interest rates raised the cost of capital. that adds yields on office buildings to rise as other asset classes. because interest rates have risen along with inflation, the cost of cap x has gone up. in addition to that, it has gone up for new construction. i guess on the other side of the coin, new construction will slow down a bit as well because

interest rates and inflation is higher which will help to some degree the existing office stock. >> a good point. everything is a bit more expensive with rates and inflationing moving higher spencer levy, thank you. on deck, stocks trying to keep the momentum going. beg gina sanchchez and greg sarian have the latest ahead. and we have the world's best investors sharing their inch insights insights scan the qr code on your screeh, or go to sncnbc to learn more we will be right back. and we're projected to reach 1 million barrels of oil per day by 2025.

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a.m. earnings from docusign and rh. the european central bank rate decision out at 8:15 a.m the markets expecting an aggressive move. possibly 100 basis points. jay powell is speaking at the annual monetary conference after 9:00 a.m treasury secretary janet yellen will be at ford's electric vehicle plant in michigan this afternoon to deliver a major address on the president's economic agenda. back to the markets right now. futures indicating a lower open. coming off a solid rebound the best performance in a month. snapping a seven-day losing streak for nasdaq which ended higher by 2% yesterday let's bring in greg sarian and gina sanchez great to see you both.

g gina, we are two hours away from the ecb. economists are expecting between 75 and 100 basis points. why is this meeting significant for u.s. investors >> we are looking to see where europe lands there is still a lot of pessimism. the dollar is really strong. the ecb has to step up its game if it keeps up with the u.s. rate hikes which has promised to be aggressive until inflation eases. europe is girding itself for the winter to come which could be painful or it could be less painful. i think that right now if you look at the trading markets, most investors are siding with keeping money on shore in the u.s. although europe is really cheap. it is cheap for a reason this rate hike, while i think it

is necessary to help ease the pain on the dollar which is part of why things are so bad in europe, i don't think that it -- i still don't think it will be a great time to buy european equities >> greg, do you agree or disagree with gina >> 100% agree, seema happy to be back we're in a painfully slow process where besides worrying about european markets and the war, we've got to navigate how the fed will handle the next three meetings our view as we see another 125 basis points there is a tug-of-war with that and slowing economic data in housing and retail this ultra strong labor market we need to have a plan and navigate the markets >> yesterday, gina, lael

brainard said they need to hold expectation of the 75 basis point hike at the next meeting in late september. that resulted in the sftocks coming off highs what is behind the change in sentiment? >> the question is is the fed going to have the nerve to continue driving the u.s. into deeper recession i think a mild recession we are probably already there do we force a deeper recession and labor recession which seems to be the goal of the fed to break the back of inflation by breaking the back of wage inflation which is still running higher than long-term average. that is -- wage inflation is a productive inflation it causes real demand. that is where the fed could step in it will be painful if they stay on their course. i think the markets, however,

everybody is basically, you know, questioning the fed's decision and if they will really do this. oil has come off because demand was really shrunken by the fed because oil prices were high and crimped demand commodities rises did a lot of work that the fed will have to do does the fed have to continue? >> how much do they want to see in the labor market? greg, lowest level since april of this year for oil what is your trade on commodities? >> we believe is just evidence, seema, of resulting in slower demand this is the effect of the rate hikes the fed instituted so far. we think this will continue in this range bound shocking market between now and end of year. investors need to embrace the volatility we had a peak a couple of weeks

ago. take the year end guilifting this is where you need to put cash to work reassess your cash flow. to gina's point, we stay in the high interest rate environment going into 2023. the fed may not raise rates more >> we have to leave the c conversation there meeg and gina, i appreciate your ti that does it for us on "worldwide exchange. "squawk box" is next 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.

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good morning tech stocks halting the slide yesterday as the nasdaq broke its losing streak. we will show you what's moving right now and katie stockton

she is on today? >> i didn't see her predictions sgrpredictions. >> we will all find out. and gamestop with the crypto platform the amazon ceo says it will not mandate the return to office for corporate employees. i didn't know it would be that big of a debate. go back to work. it's thursday, september 8th, 2022 and "squawk box" begins right now. good morning welcome to "squawk box" here on cnbc we are live from the nasdaq market site in times square. we're here the grouches i'm rebecca quick along with joe kernen andrew is of