it is 5:00 a.m. at cnbc global headquarters, and here's your top "five@5." investors braying for a wednesday whiplash futures right now, they're higher. mixed signals from the bank of england amid reports it plans to extend its emergency bond buying past friday's deadline. we have reaction from london coming up ahead. tech under pressure as the nasdaq falls into its second bear market of the year. we break down the sector's wall of worry and look at what's

ahead. plus, president biden coming to terms with a possible u.s. recession, joining a chorus of other world leaders. and then later on, why twitter could be bringing its content moderation policies in line with elon musk's vision for that platform's future it is wednesday, october 12th, 2022 you are watching "worldwide exchange" right here on cnbc ♪ good morning i'm dominic chu in for brian sullivan today let's kick off your wednesday morning. it's h ump day they're higher, they're big. the s&p higher by 15 and the nasdaq higher by 70. it may not seem like a lot, but it is green. we haven't seen a lot of it as of late. the major averages are coming off a mostly weaker session. the lowest level since july of

2020 now more than, by the way, 35% below its all-time highs that we saw last fall. the s&p hitting its lowest level since november of 2020 the s&p, the nasdaq, and the nasdaq 100 all coming off their fifth down sessions in a row checking in on the bond market, right now yields, they are still on the move and inching toward that 4% level for the benchmark ten-year u.s. treasury, but we're seeing a little bit of a pullback today in rates. the ten-year yield just a hair be below 3.92%. within the energy complex, oil prices, you can see w i coming off back-to-back losing sessions we're still down 0.2%. 89.23 forwti crude ice brent crude, just about

flat, $94.31 and within crypto we are seeing bitcoin and ether, yes, marginally moving here, just about fractions on the upside for bitcoin. 19,145, although, we're still below that 20,000 level. ethereum, up about 1 1/3 percent. the bank of korea raising interest rates by half a per serjts 50 basis points to a ten-year high of 3%. and in japan, the yen is now trading at its lowest level in 24 years against the greenback, the u.s. dollar still showing some strength there, now trading, again, 146 yen. that's what it takes to buy a u.s. dollar right now. within europe, the trading just getting underway and really going on that continent. you've got gains right now

fractionally speaking for dcac n france, the ftse 100 in germany. we've got key news, but first let's get to some of the top morning stories. silvana henao is with us. good morning. >> twitter is reviewing policies around permanently banning users and caught be bringing its content moderation more in line with musk's platform as any policy change would unlikely bring former president trump back to the platform since twitter is not considering reversing plans issued for breaching policies against inciting violence. intel is reportedly planning to fire thousands of workers by the end of this month, according to bloomberg layoffs will coincide with the company's scheduled earnings release. intel has around 121,000

employees worldwide. its stock is down more than 50% over the past 12 months. and amazon workers at a warehouse in southern california have filed a petition to form a union with the nation labor relations board. the warehouse staff located in moreno valley are looking to align themselves with the amazon labor union. that's the same group that claimed victory at an amazon warehouse in staten island, new york should it pass, this will be amazon's first california business, dom. the bank of england is possibly exploring extending its emergency bond buying program beyond this friday's deadline. our joumanna bercetche is joining us this comes after the government said on the record the bank has no intention of extending the program, so why all the mixed

signals? >> you know, that is a question that everyone in the market is asking themselves today, dom it think it is worth reminding viewers when the bank of england did introduce this program back on september 28th, it was strictly tell prey in nature and was supposed to end on october 14th the bank of england governor andrew bailey did warn them yesterday they have three days left to rebalance their positions after which they will pull back their gild buying program. the "financial times" as put out a report shortly afterward said it could be extended with officials monitoring it. at least the reaction tells you some people are hoping the bond buying program will indeed be extended the reaction in gild tells you a

similar story. we opened up then we rallied back to slats. right now we're coming off again. the 10-year yield is about 4.5 percentage points just before the bank introduced the bond buying program we've got gone full circle the last ten days. speaking at an i.f. event in washington, they said they were fulfilling it but stressed any such measures must be temporary. >> my message to the funds involved and all of the firms involved, you've got three days left you've got to get this done because, again, part of the essence of the financial stability is that it's clearly temporary. >> and so there that is the bank of england governor reminding everybody that these measures are supposed to be temporary the bank of england respond to this fd article and is being

reported by other services that they do intend to end the temporary bond buying program by this friday. so we've been talking about the possibility of a cliff edge for the gilt market. that cliff edge is still there, john. >> joumanna bercetche in london, thank you very much. let's talk about the messaging from fwthe bank of england. you just heard joumanna's report here she mentioned the bank of england is implying these emergency measures are temporary. we had some of these measures put in place in the u.s. and other places around the world back in 2011 and they became kind of permanent. what exactly is the market read on whether or not the volatility is going to cause the bank of england to keep its intervention program longer than expected >> hi, dom good to be with you. the road to hell is paved with

good intentions. we're looking at a system with a larger disease, which is financial instability globally coming about by an incredible velocity in rate hikes across the board, especially driven by the fed. look, we came out of a system where we just doubled debt to gdp in the united states since 2008, yet we now find the ten-year yield at levels of 2008, and the velocity of that move is simply not sustainable without breaking something we went from free money to now restricted policy, and we see what happens in england. causing problems not only because of yields but because of the strength of the dollar and so the system is actually fairly fragile, and so i think the message here is that central bankers are desperately trying to fight for credibility on the inflation front, but at the same time, a risk at something larger breaks, and so that's kind of the biggest risk out here that

central banks are moving so fast, especially the fed, that they're not waiting to see what the essential impacts of the economy are and then they're overtightening going from overloosening to overtightening and then before you know it, the disease, inflation, is cured, but then it's dead. >> that's harsh. hopefully it's not going to die because that would mean the market and economy are doomed for some really bad fiery pit of inflationary-driven kind of volatility i wonder, though, if you're looking at this, we know over the long term things have to be fix and work themselves out, but these are -- at least downturns are being considered opportunities for some folks is there more downside left in your mind for the u.s. market, and if so, how much before eventually we have to assume things recover >> yeah, i mean i'm with you on. this inflation, to me, is a

temporary issue. technically, actually, ironically, as markets have been under tremendous stress here, technically i see this all positive here. i mean what is required -- and it's been the same issue -- when you can see some relief in the data to drive down expectations. we even oversold structurally as we have been sent meant is as bad as during the financial crisis, and so is positioning. so ironically, given all this, we're still holding in there i do see some downside risk if we don't get any relief on cpi or ppi this week then i can look at it in terms of a general next level support level, but if you do get relief, i. e.on the ten-year yield and the dollar, based on where we're set up with positive die very jency, we could have a massive meltdown i hate to be so binary on this,

but we're at a thirsty moment. things can look right very quickly, but that's the risk if you don't get that relief, things can still get tough never the near term. >> and the volatility gets worse for sure we'll see you soon. when we come back on the show, preparations underway as china's president xi jinping gets set to lay out a five-year roadmap for its country. what we can expect from the big meeting coming up this weekend. plus president biden coming to terms with a possible u.s. recession. we have his full comments on that coming up ahead. and then later on, will facebook's $1,500 virtual reality headset be an industry game-chaerng facebook hardware? we've got a busy hour ahead when "worldwide exchange" returns after this break

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welcome back to "worldwide exchange." turning now toward china, preparations are underway as the president lays out his plan. what can we expect from this very big and very important people's congress meeting? >> reporter: it's a very important event, dom that's one of the reasons why authorities here have said that security in the chinese capital is iron fist tight ahead of the leadership reshuffle that's o going to occurover the weekend

they say over 1 million alleged criminals have been detained and zero covid protocols have been tightened even further now, it's widely expected that president xi jinping is going to get an unprecedented third five-year term for investors, a lot of people are going to watch what's going to happen at the end of this congress, which is about one week, because that will give us a better sense of who is going to make up the rest of the leadership positions and that will give us a sense of just how powerful president xi's leadership will be for this next five years now, the indications are that president xi is going to maintain a very strong degree of influence over all policies from national security to the economy as well as foreign affairs there's been a lot of discussion that president xi is going to get a higher, more powerful title, and other measures are going to be instituted in the

constitution such as enshrining xi jinping thought into it as a guiding principle. so all of that, of course, dom, really indicates that president xi -- his fractured programs are just going to continue, including zero covid. >> okay. so can we stay on that zero covid sense of things because, eunice s there any sense of a public reaction with what's happening with the latest iteration of china's covid policy we've seen some news reports and some social media mentions of perhaps a little bit of civil unrest that's developing right now among the citizens there is it becoming more frustrating as it did in the later stages of covid here in the u.s. >> reporter: it's absolutely very, very frustrating for many people here, and what's interesting is in the past several days, the state media

has been really doubling down on zero covid earlier this week there was one article by the people's daily, which is the communist party's mouthpiece which said zero covid is based in science. it also said zero covid is sustainable, and today it warns citizens against slacking off or what chinese say lying flat on zero covid so what people have been doing in reaction to that, given how sensitive it is, is just reposting that article over and over again along with some angry emojis or frustrated emojis, and some people have been kind of sarcastic, i think, more the daring ones, saying that, yes, it's true, that the rest of the world is wrong and that china is the only one on the right path. >> it's certainly a frustrating time for a lot of folks out there in china out there right now, i'm sure. eunice yoon, thank you very much. still ahead on the show, russians stepping up its air

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welcome back to "worldwide exchange." russia is launching another round of air strikes across ukraine as the death toll from the earlier attacks continues to rise and one of moscow's most brazen attackings on the country in months. now president biden finally weighing in on that growing threat from moscow

nbc's brie jackson joins us now from washington with more. good morning. >> good morning, dom the sudden escalation of attacks is urging a push for stronger support from western allies. new images of explosion after explosion taking place across parts of ukraine this week the sounds of rockets and sirens blaring as russia escalates its attacks. ukrainian president zelenskyy's urge for air assistance growing from the meeting with g7 he tells the leaders russia must be completely isolate and punished in an interview president biden called putin a rational actor s stressing he does not think putin will turn to nuclear

weapons, despite mr. biden's warning last week of armageddon and as the russian forces have suffered devastating losses. >> he's acted brutally i think he's committed war crimes. >> reporter: they call this latest round of attacks on this. ukrainians remaining defiant, though, not claiming responsibility the u.s. is promises more aid to ukraine. >> we are going to continue to apply maximum pressure on moscow to try and effect putin's strategic calculus. >> reporter: president biden advises leaders to be cautious with doing business with moscow including saudi arabia saudi arabia and opec's decision to cut oil production is expected to cause gas prices here in the u.s. to rise heading

into midterm elections dom? >> brie jackson live from washington, dc, with the latest there. thank you very much. let's get a check on more of this morning's headlines with frances rivera good morning >> good morning. the justice department is being asked to reject trump's request that the documents be turned over to his lawyers and a special master the iconic angela lansbury died tuesday, five days before her 97th birthday. she's best known for her starring role on "murder she wrote," but she also leaves behind a legendary legacy on hollywood and broadway in addition to the 12 seasons of

"murder she wrote," she voiced mrs. potts in ""beauty and the beast."" star and stage angela lansbury was 96 years old. trea turner put the dodgers on the board with a first inning home run l.a. dodgers survive and held on for the game one win, 5-3. in the bronx, harrison braider's first home run couldn't have come at a better time anthony rizzo blasted one. and too the biggest playoffs so far in houston. >> in to try to close it on a tuesday, alvarez launches, deep right field, and this one is gone. >> coming up huge with two outs in the bottom of the ninth a walk-off homer

they come back to beat the mariners, 8-7. the braves hit a roadblock as the phillies rattled max fried early and stunned the champs, 7-6. c dom, those are your headlines for this week. >> thank you very much, frances rivera when we come back on the show, fair lede's katie stockton comes back to lay out the stocks in the median term. first it's flame throwers and now whistles elon musk is calling himself a perfume salesman you'll have to hear the story coming up. check us out on apple or spotify or your podcast app of choice we've got "worldwide exchange" in audio format. we'll be right back.

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traffic. investors brace in the minutes from the federal reserve, and key inflation data as well. mixed messaging from the bank of englan, the pound seeing some whip saw price action over conflicting reports on whether the central bank will actually extend its bond buying program, the emergency one passed this week. and president biden downplaying the risks of a recession here in the united

states his new comments ahead on this wednesday, october 12th. you're watching "worldwide exchange" on cnbc. ♪ welcome back to the show i'm dominic chu. we've just about halfway through the 5:00 a.m. eastern hour you can see the dow is implied higher by about 222 points we've seen an acceleration in the last half hour trying to recover at least a little bit and snap this kind of losing streak we've seen in the market in the bond market, this is ahead of today and tomorrow. a slight tick lower there. the 2-year, 4.28

we continue to watch what's happening in europe. there was a new report the bank of england is explored possibly extending. it comes one day after the bank's governor said on the record they have no intention of extending the program, but in a statement in the last hour or so, the bank of england confirmed it will end its emergency program on friday. yes, a lot of back and forth let's take a look at what's happening with uk assets the benchmark 10-year gilt or treasury yield, 4.49%. you can see over the course of the last few days, just between 4.25% and 4.50% on the upside. there the british pound seeing some whipsaw action. we're up three-quarters, almost one full percent that's a lot higher.

$1.57 will be what it costs to buy a british pound. now let's get to this morning's top stories with president biden speak out on a number of issues at key play in the markets. silvana is here with that now. hi, silvana. >> hi, 2k078 the president is downplaying talks around a possible recession. in an interview last night, president biden didn't fully discount the odds of a fullback happening but said they were very low despite growing concern among leaders, a downturn will happen. >> it hadn't happened yet. it had -- there hasn't -- there is no -- i don't think there will be a recession. if there s it will be down slightly. >> the president did acknowledge

legislation passed under his administration helped put the economy in a better position, dom. >> thank you very much back to the broader markets now and a few rough days, weeks, and months for technology. the sector is facing multiple headwinds, the list growing by the day, putting pressure on an already beaten up sector among the hurders, new restrictions on chinese chip manufacturers. the nasdaq, hitting lows not seen since 2020. jpmorgan, jamie dimon, warns we may never recover to prepandemic levels, and rising interest rates as hawkish fed talk rolls on in essence. let's talk more about this with gene munster, managing partner at luke ventures gene, this is -- you can argue, but mathematically, it is the most important sector to the overall economy and the markets

for good reason because so much of our productivity is driven on technology why is it right now that the outlook may not be as clear as it was, say, from a bounceback perspective as it was post-financial crisis or even post-covid >> dom, it's all about the fed, don't fight the fed. it is almost elementary to mention that it's important when it comes to tech stocks. it's a risk-on asset if you have tech besides your company name profile, that means you're considered a more risky asset. you need a higher return that has played havoc on these companies. to put in perspective, how much havoc have they had on tech, i

went back and looked at the ten high fliers in 2021. this is when interest rates were low. they're down 75% year to date. the nasdaq down 24%. if you think about the tech aspect of this, it has been hit more yhard i do want to take the approach that is bad. what has happened in tech is bad. it's been because of the rising interest rates, but i think there is this mechanism where the market looks six, 12 months down the road. dom, i don't want to sprinkle good news over bad news, but i think it's important we look forward. the rate hikes are the speed at which they will likely diminish over the next six to 12 months when that happens, some of the risky assets will come back in favor. despite all of the negative

activity, i'm still optimistic. >> there's precedent for it, gene it's happened in the past where you've seen massive selloffs for something, for big blue chip names and they end up with buying opportunities some of where exactly ly would the leadership be? would it be the chip stocks, the communications services or software or apple, for instance? what exactly does signal that that tech trade would come back? >> i think there are two companies to keep an eye on. we'll first start with one that has been less impacted that many look to, afternoonle, as a source of optimism for the market ironically if apple cracks, we're viewing the bottom i don't think we'll get that crack. part of the reason is their business continues to do el with we look at the lead times for iphone in eight countries.

they're still running three to four weeks that's higher than what they tippicry are at this cycle they're down two weeks separately there's an opportunity around meta. this company is trying to pioneer what is next in terms of a user platform. this trades at 11 times next year's earnings, and the question that has plagued meta has been the impact from tiktok and the core business, but also apprehension related to the metaverse more broadly it's understandable because this is a new computing platform, but i think embedded in some of that pessimism around the metaverse more broadly is a question if you think the question is mobile the end of innovation in terms of consumer interaction with tech forecast your answer is mobile is the end, then

there's no reason to own meta as a company. but if you believe there's a future in the operating system beyond global, meta is in a great plachls when i talk about sifting through the bargain bin, meta sticks out. >> gene munster's made the call. he likes meta's platform thank you very much. coming up later on in the show, we're going to dive deeper into the metaverse as gene just pointed out. mark zuckerberg and company's big bet on the gear to attract users into the virtual reality, this vr world. will it pay off as the tech giant continues to strug snl we'll try to answer some of these questions. but first before we head to break, the top trending story, elon musk apparently getting in the fragrance business yes, the tesla ceo taking to, where else, twitter to advertise what he's calling the finest

fragrance on earth it's called burnt hair musk describing the fragrance as the essence of repugnant desire. he updated his twitter bio to quote, unquote salesman. $100 apiece with musk claim 10g,000 have been sold burnt hair "worldwide exchange" is back in a moment

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welcome back to "worldwide exchange." time for something random but interesting. for that we sent it out to rbi, brian sullivan. >> good morning, and your rbi is back something random and hopefully interesting to start your day cnbc style today, because it's wednesday and we need some hump day hope, let's find some optimism in the market why not? there is reason to be opt optimistic, believe it or not. because as bad as things have been, history may be on your side take a look at this. the blue line shows the median return of the s&p 500 one year before and one year after midterm elections in america this includes all 19 midterm congressional elections going back to world war ii they've got a lot of day tachlt here's what the team deutsche found. in every single midterm election year, the s&p has gone up in the

following year, every single time 19 out of 19 the six-month after particularly valuable that's a lot of info, especially for this hour of the day here's the bottom line stocks tend to boom after a midterm congressional vote with a 100% rate going back to 1945 this is a different world. you've got putin's war, o out-of-control inflation and a downturn in countries. nothing is certain and nothing should be viewed as a 100% chance but if you needed a little pick-me-up possibility, there you go history says there may be better times ahead and maybe keep some cash handy random and hopefully interesting. >> thanks very much, brian sullivan, for that. as you heard from gene a

little earlier, he's betting on the stock pick with esterday's headset unveil could we be in the early stages, the early innings of that shift? joining me now is kathy hackle, co-founder and chief metaverse officer, a cmo at journey, specializing in all things virtual and reality. kathy, i don't know if you heard gene munster's comments. he's pretty bullish with meta and future ambitions especially given the stock move slower. takes what you saw in that big unveil yesterday are you excited more or less or just the same given what we just saw with the vr headset? >> kind of in the middle of it, you know i believe that what they announced yesterday was quite interesting. it was meta in some ways

catching up to the vrar center you have companies like htv 5 focused on the enterprise. it has a pretty hefty priceline, but it is an interesting moment. i'm excited about the competition they are bringing to the market in the sense that now you have, for example, meta betting on enterprise, bringing this prosumer headset. then you have bytedance. it's this moment of not just, you know, a battle over, you know, the timeline, but it's going to be a battle over which vr headset you're eventually going to wear. >> so if this is the early stages -- if vr and ar,

augmented virtual reality tech situation is the early stages, what then is the next inning what's the second or third inning what's the next evolution for metaverse? >> right now what you're seeing is this kind of race to replace, let's say, the desktop with a vr headset. during the keynote they mentioned that several times ofrm remote the mobile phone with ar glasses. people are thinking of some type of wearable glasses. eventually it could be an all-day-on disease, potentially contact lenses that's a little scary obviously a little out, but the idea is metaverse will be all-encompassing, all around us. i do see a moment where meta mentioned virtual reality headsets replacing our desktops. they're vetting really, really hard on vr and apple, depending on what

they bring to market, betting heavily on ar glasses. it's an interesting competition we're starting to see there. >> cathy, before we let you go, how much did the virus pandemic hasten the next evolution. i say this because we talk about virtual desktops, virtual workplaces we've seen these not in metaverse but in actual life with things like zoom, facetime, microsoft teams, slack, and everything else. is that now the precedent for the idea that metaverse can work because we've seen the virus pandemic and the response? >> i think it's a combination of accelerating the technology, but it's also the fact you have again z in the work force. some live in these virtual environments not in vr, but in the gaming experience so the experiences are very

real the pandemic exaccelerated everything. >> cathy hackl, chief officer at journey. coming up, fairlead's katie stockton the markets where she's looking at buying opportunities. heard right. buying opportunities. throughout the course of hispanic heritage month, cnbv is celebrating teammates, colleagues, and more as we head to break here's courtney garcia. >> my grandfather emigrated to the u.s. speak only spanish in hopes of entertaining a better life for his family. two generations on, i'm happy to report he made those goals what helped was knowing the value of a dollar and the savings, all things instilled upon me at a very young age. as i look at my own children, i want to stress the important of

investing and making sure your money is working just as hard as you are to create generational wealth for your family for years to come.

getting ready. business level inflation at 8:30 a.m. eastern time, blues the 2:00 p.m. minutes from the federal reserve policy decision that's coming up later on. speaking of the fed, expect new comments from the fed governor michelle bowman and newly minted vice chair for supervision michael barr later on today we get results from pespsico. a lot to keep track of right now. with all of that in mind, let's get a check on u.s. stock futures right now and bring in katie stockton, fairlead strategies founder and managing partner. katie, this has been a pretty decent losing streak we've had

is there any bottom mark in your mind >> we don't have those indications as of yet. we look at things like the monthly overbought/oversold measures, and while they're oversold, we're seeing some kind of retest, and that's are characteristic of a bear market cycle, which, as you know, can be long. have no indications about a long-term low. but there are indications we're getting into a shorter term low. i think these sort of countertrend rallies are really very difficult to time, and that's because they're have fast and furious, very short lived. and we saw that, of course, last week with a very explosive two-day up move. but what we have now for the s&p 500 unfortunately is a decisive breakdown with the um issertime lows it does obviously show that the downtrend that's been intact here to date still very much has a hold on the market. >> if that's the case, let's say

hypothetically i can't do this but i can do it if i'm a futures trader or anything el. let's say i wanted to put a limit order down below for the s&p 500, where would i put it to see if i could pick some levels to either take a position or build around a new one >> are you talking about a short-term position? >> sure. let's talk about a short-term position let's see if there's a short-term position. >> what i would say is for the s&p 500500 cash where we suppot it, the support is 5505. and that's based on a 50% replacement of the uptrend drawn back to the covid low. that's a support level but just an interim support level and we actually believe the s&p 500 at some stage during the bear market psych ll rewill reach mo.

i will say the 35 area would be a place that would be a natural spot to see that unfold. it's about in line with what we saw at the june low. we do that by tallying up the oversold readings among the constituents of the s&p 500. it's a very oversold extreme we have here, but, again, we'd rather use that relief rally as a selling opportunity as opposed to put on a countertrend position. >> so we focused a lot, of course, on what's happening with the broader markets and the s&p and certainly the 35% pullback in the nasdaq. but there are other parts of the market in focus right now. i think about crude oil. i think about a lot of commodities that may signal something about the global economy. maybe even gold prices are commodities on your radar right now at all in terms of

possible opportunity for a bottom. >> always. we look at commodities as they influence equities and certainly the energy sector this year has been very topical. for crude oil prices we have seen a very impressive relief rally there. and what we're calling for is a shallow pullback which is essentially underway and then a relief rally we think they may have entered a long-term trading range. yet these sort of intermediate term swings within that context can be quite sizeable. so we're looking for some upside follow-through in the coming weeks for crude oil and that should continue to be a boon to the energy stocks which should indicate relative strength and really the only sector that has that characteristic at this time for gold prices in particular, again, we've seen really the most significant oversold bounce since the intermediate downtern began a few months ago we say that because we have

upturns in our weekly measures that suggests it has a little staying power. we welcome that relief rallying gold that has outperformed the equity market as a safe haven in this type of environment beyond that we can find uptrends in thing as. agriculture as commodities, things like corn and wheat there's not a lot of those in the marketplace globally right now. >> so ag commodities, the soft ones i wonder, is there a high conviction short in your mindright now? >> you know, we actually are recommending shorting tesla. i have to say fwhaus we have a short-term breakdown it's a significant loss of relative strength we have seen and, of course, momentum has deter deteriorated if you step back, you see what

looks like a topping formation to us, that holds a lot of risk, maybe not in the very near term, but beyond the near term, we believe that will see additional downside from tesla. >> katie stockton, always great to get your thoughts on the charts we'll see you soon. that does it for "worldwide exchange." "squawk box" picks up the coverage coming up next. futures showing someig of sns strength we're higher by about 65 points right now. we'll see you tomorrow or whatever this is. but the things that last a lifetime like happiness, love and confidence... you can't buy those. but you can invest in them. we believe that your investments should work harder for the future you imagine. and that's where our strategic investing approach can help. t. rowe price. invest with confidence. pst. girl. you can do better. at least with your big-name wireless carrier. t. rowe price.

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the bank of england shoots down a report. president biden doesn't agree with jamie dimon

he says he doesn't expect a recession in the near future even if there were to be one, it would be slight. and a new challenge for the gig economy. the labor department proposing a rule that could request for workers like uber and lyft the stocks got hit hard yesterday. wednesday, october 12th, 2022. "squawk box" begins right now. ♪ good morning welcome to "squawk box" here on cnbc we're live from the nasdaq market site in times square. i'm becky quick along with joe kernen and andrew ross sorkin. and let's take a look at the u.s. equity futures at this hour you're going to see right now there are some pretty strong green arrows not as strong as they were a little bit ago, but the dow futures ar