thks to shipstation's discounted rates we're saving a ton. honestly, we couldn't do it without shipstation join over 100,000 online sellers who get ship done with shipstation go to shipstation.com /tv and get 2 months free. it is 5:00 a.m. here at cnbc global headquarters. here is your top "five@5." futures are surging right now. also, in the uk, bank of england looking to reassure financial markets as the prime minister fights for her political life mortgage rates continue to climb higher pushing home buyers out of the market. of course, earnings season getting under way. just started as we await the final of the big banks to report later this morning. and netflix reportedly

taking steps to find ways to bring more users on the platform as sleep is no longer its competition. it is tuesday, october 18th, 2022 you are watching "worldwide exchange" here on cnbc good morning i'm frank holland in for brian sullivan let's kickoff tuesday morning with the check of stock futures. in the green this morning across the board. right now, the dow could open up 300 points higher. at this point, the nasdaq and s&p in the green after a sharp move higher for the averages yesterday with the dow gaining 2% s&p and nasdaq closing 2.5% and 3% key earnings reports easing investor fears and oversold tech names with a bounce back we still have a long way to go ahead of the open this morning, the dow is off more than 18% from the all-time record high. the s&p off 23%.

the nasdaq remains 34% off of the record high. now it is time to check the bond markets. a lot of movement. the 10-year treasury above the 4% yield something to watch it has an impact in the market again, the 2-year treasury at 4.46%. it hit a 15-year high last week. the oil market crude is slightly higher this morning. actually down a little bit it has been moving a bit wti down .50%. brent crude down .50%. wti is $5 a barrel lower than it was a week ago of course, we have to pay attention to cryptocurrency. we are seeing bitcoin below the $20,000 mark ethereum and xrp lower cardano down 1.5%. and over in asia overnight

japan and hong kong and south korea gaining 1% trading in europe is just getting under way. we are seeing green across the board. the ftse up .50% dax is the best performer this morning. up more than 1%. let's get a check of the top corporate stories with pippa stevens. >> good morning, frank the biden administration is planning to sell oil from the spr as soon as this week according to reuters, the sale would market the remaining 14 million barrels from the president's previously announced release of the reserve of 180 million barrels in may the largest ever this is seen as a bid to lower fuel prices before next month's mid-term elections credit suisse is considering a sale of the u.s. asset management business and getting set to say good-bye to unit

president ahead of the october 27th review. according to the report, the bank asset management unit is expected to draw trust from private equity no final decision has been made. amazon plans to invest $5 billion in thailand over the next 15 years. the investment would include data center construction and purchase of goods and services amazon also plans to set up an infrastructure hub in bangkok one month after building a cloud data center in the uae and china's biggest ev maker says third quarter profit more than quadrupled as it looks to stand in the region over tesla strong sales and broader product offering allow it to significantly reduce costs per vehicle. the byd is 19% owned by berkshire hathaway frank. >> pippa, thank you. turning attention to the

developing story in the latest in the uk financial crisis the new finance minister announcing sweeping changes to the tax policy playbook. this as prime minister liz truss is fighting for her political life we have arabile gumede outside 10 downing street. >> reporter: frank, this situation is one where we expect the prime minister to certainly be fighting for her political life how much of that will come to fruition this week questions are still being asked. few members of parliament and members are inside 10 downing street here for a meeting of sorts. not sure what that may be about. yesterday, we, of course, did see the chancellor, the uk finance minister speaking about a reversal in the mini budget which was sent out on september 23rd reverse al of measures from the tax cut of 19% and now remains

25%. this will bring in $36 billion every year the energy prices have gone higher and that cap now has only been put in place until april of next year. it was set to go on for two years. that is certainly changing, too. you can see the sense as to try to bring stability to the market and finding that the pound and the gilt is stabilizing now. this may be the calm before the storm. we hear a few mps, at least five mps, have put in letters of no confidence against the prime minister whether this will stand the test of time is going to be interesting. a fight here is certainly on the way by the looks of things >> arabile, the bank of england may be pushing back on the plans according to the financial times

report >> reporter: yes the bank of england has come out of a full-on statement regarding the pushing back of the gilt sales and the report is actually inaccurate. they will most likely be continuing with that the gilt sales are supposed to happen october 31st. they ended the intervention in the market where they purchased the gilts on the long end of the spectrum to find stability in the market the question marks now as we head into the next central bank meeting if a hike of interest rates from 75 points becomes the minimum or a full percentage point hike in interest rates >> arabile gumede outside 10 downing street thank you. now let's bring in ben emons

thanks for being here in person. >> it is great, frank. we have done this show for two ye it is fantastic being on set >> we have to jump in that the bank of england is pushing back on the report of the quantitative easing plans. what is the reaction how do you see that impacting the uk financial market and the global market? >> they want to delay the kw quantitative tightening. we will get cpi out of the uk tomorrow the turmoil which you have seen and inflation is out of control. it is rising faster and faster bank of england is reluctant the correlation with the uk gilt effects our equity markets. i think the bank of england is aware of the instability of the

gilt market. it will come back with measures to try to stabilize. >> is the idea here to get inflation under control? what is the goal inflation spiked after the tax cuts and other issues in the uk. >> it is the primary goal. obviously they have been not hiking as fast as the federal reserve. they run away faster than what we experienced they are in a tight spot they felt like we cannot really let the government drive the process. we have to control inflation that is the mandate. i think that's why it is surprised they are denying the report they are moving forward with selling corporate bonds. they have the three facilities to allow liquidity in the markets. they want to use that to keep things stable while they get on track to hike rates in november and go on with kwquantitative

tightening it is not just signaling to the market things are stable. >> let's turn back to the u.s. markets. you say we are in a technical bear market. the vix is setting up for a potential rally. we could have a rally up to 3,800? what about the vix that is setting up for a potential rally? >> the vix curve the inverted with the is higher than rate. if you get traction on the market, that is a normalized vix and that would stabilize the market with the rally coming a lot of cash balances and negative sentiment and short position in the s&p futures. it sets up for a technical bounce that 3,800 is a technical level

f.level. it sets up for a rally i would go with mike wilson. you could hit 4,000 and have a bear market bounce in the trend of the bear market it is a bounce people will take a position. >> before we let you go, there are defensive ways you have twoing interesting picks. one is dave & buster's and ibm. ibm reports after the bell tomorrow give us a short elevator pitch >> the small cap area and i just picked it out of people covering it this is not affected by higher rates and have a very good domestic base. the small cap area is an uplift. it is not affected by the dollar ibm is a conservative name in

the tech rout. it has solid earnings and not affected by other tech drawdowns we have seen it remains a good name >> ibm and s&p about 2.5% higher since the start of q4. ben, thank you for the insight. we when come back on "worldwide exchange. why affordable crisis could be hitting the housing market sooner than later. and why apple could go one step farther with a folding phone. and the streaming struggles continue for netflix a very busy hour when "worldwide exchange" returns. stay with us

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welcome back to "worldwide exchange." futures in the green at this moment the dow could open up 250 points higher the s&p and nasdaq 1% higher in the pre-market it is still early. checking mega cap tech names apple and microsoft and amazon and tesla up more than 1% right now. tesla is up almost 2%. alphabet up 1.5% ing something to watch with rates climbing above 4%. turning back to the housing

market and surge in mortgage rates. 30-year fixed jumping to the highest level in 20 years. hovering at 7% housing market caught in the economic battle of strong and wage growth propping up home buyers and dealing with inflation and home prices remaining sky high for more, let's bring in jeff taylor at emphasis digital risk. a board member at the mortgage bankers association. jeff, thanks for being here. >> frank, thank you for having me >> jeff, you are a bit of a contrarian if you watch cnbc or any other outlet, you hear 7% rates and it is destroying demand and hard it sell a house or hard to buy a house. you are saying that's not the case especially when you look closely at the local level you have to explain. >> absolutely. you look at rates are set by national and global situations when you look at real estate and

priced at the neighborhood street and local level when you look to buy, you have to understand exactly in the neighborhood what is going on. is home price appreciationi moving down or stabilized? you need to see what you do in your neighborhood. if you look at a house right now and you are a buyer, you can use an a.r.m that's 75 basis points below %. the mortgage bankers association are predicting 30-year fixed around 4.8%. if you think about that, in two years, you can buy the house and refinance it at 2% less than where we are today >> jeff, i think you would say that's an optimistic forecast. the rates will go down 2% in the future one other question i saw your notes about a.r.m.s

they are more popular with relief on rates. 75 basis points is a big deal on the life of the loan are a.r.m.s as risky as they once were? rates can go down, but they go up >> a.r.m.s is a personal decision you are betting on a period of time of 3 or 5 or 10 years when it resets lower than it is now when we look at rates, because of the things that happened globally, we predicted the rates will obviously come back at some point over the course of the next couple years 1% to 2% i don't view them as risky when they were. when people got caught in the financial crisis, they were taking a.r.m.s and they had no equity in the home they didn't have the equity they have in the home today which is an an all-time high. >> you say there is a playbook for sellers and buyers i want to focus on the buyers'

pla playbook if you are a buyer, you are working with a real estate sales person what are the steps to take in the near term before the end of 2022 >> great question. if you look at the near term, i'll work with realtor and loan officer. i'll see what is my affordability. we talked about affordability and they used data sets which is how loans get made when you speak with the realtor, you have to understand what's going on in that local market. there's no longer when you bid up two or three or four times like a year ago. what are you looking to buy? what can you afford? what is going on with the street level? that is where you partner to make sure you are in the right place and area where you know price will not decline >> jeff taylor, thank you for being here we appreciate the insight. still on deck on "worldwide

exchange." rising rates doing little to a ost banking sector stocks. cler look at what is at stake coming up. stay with us in any business, you ride the line between numbers and people. what's right for the business and what's best for everyone who depends on it. solving today's challenges while creating future opportunities. it takes balance. cla - cpas, consultants, and wealth advisors. we'll get you there.

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we call this enterprise intelligence. from the network america relies on. welcome back to "worldwide exchange." futures in the green right now actually opening up higher this morning. the dow looks like it could open 250 points higher. s&p and nasdaq 1% higher nasdaq is up 1% and a quarter higher with all three indices

with rates topping 4% on the 10-year. we are looking at salesforce and johnson & johnson and microsoft up almost 2% let's get the latest headlines from phillip mena in new york. frank, good morning. the russian military has unleashed swarms of kamikaze drones in kyiv the drones provided by iran are cheap and deadly and thhard to shoot down frigid steps are sweeping much of the nation leaving 70 million under freeze alerts this will challenge record lows and bitter cold will be hfelt i the south. michigan and wisconsin are getting a taste of winter as snow fell on monday. uber eats is getting the

green light for special deliveries in toronto. customers can now order marijuana through the app. it's a first for uber eats and a joint venture. the retailers staff will make deliveries rather than the company's drivers. if they get the munchies, they have to place a separate order for food canadian law will require customers to prove they're sober and 19 years old four years ago, weed was illegal in canada and now delivered to your door. >> phillip mena, we appreciate it more trouble for intel this time over the spinoff over the latest company. if you haven't already, follow our podcast check us out on spotify or apple the or other podcast apps. "worldwide exchange" will be right back ,

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monday's rally set to move to the new trading session futures pointing to solid gains at the open as investors gear up for high profile earnings reports. uk prime minister liz truss fighting for her political life after her mini budget mistakes and another tech titan taking an axe to its head count. microsoft is slashing jobs

it is tuesday, october 18th. this is "worldwide exchange" hered on cnbc welcome back to "worldwide exchange." i'm frank holland in for brian sullivan let's get to the stock futures we are seeing the futures solidly in the green the dow looks like it could open 250 points higher. s&p and nasdaq 1% higher we want to get a check on the bond market. looking at the 10-year yield we see it is above 4%. 4.029% remember, the 2-year hit a 15-year high last week we will continue to watch the bond yield. it has a negative impact on high growth and tech stocks wti is trading right now at $85 a barrel brent crude at $91 a barrel. both .50% this morning

now to earnings. investors waiting reports from financials from goldman and state street and truist financial. this after a strong day with the kbe surge more than 2.5% led by bank of america and by mellon. still has a long way to go down more than 11% this year joining me now is devin ryan at jmp securities devin, thank you for joining us. >> good morning, frank >> we had a big week of bank earnings goldman coming up later today. what is the theme with big bank earnings >> i think the theme we're seeing this quarter probablyal year in a really tough back drop is the business models are resilient. i think more so than people probably have given them credit for and more so in the past.

what you are seeing through the capital market central names is investment banking is very weak. particularly after a record year last year. areas like trading are picking up the slack and performing relatively well. interest rates are creating uncertainty in the economy for banks, the higher interest rates are a positive thing the theme is resiliency and also the theme of macro uncertainty continues here it is creating a tough place for stability in the market. that's been the challenge we can't really get a new trend here after what has been a tough year all together. >> devin, you said something that caught my ear in general, the thought is higher rates are a tailwind for financials, especially for the big banks. the kbe finished higher and so

did the s&p. the kbe is 11% off the big highs. why aren't they doing better >> i think banks are a proxy for the economic outlook there is as much uncertainty and macro outlook since the recession. banks and financials are not a defensive sector until we get clarity and consensus comes together around the market and macro will look like in the next 12 to 18 months, it will be tough frank, the other point is the deposit of the banks. banks make money on loans and securities right now, with rates moving so quickly, there is some uncertainty around customers moving deposits to other alternatives to generate yields. that is creating anxiety

we think banks will manage through that as they have in prior cycles this is different from what we have seen. there is extra anxiety >> did hevin, one last question. a lot of people are watching where do you see consumer and commercial create this point >> credit thus far looks very, very good. that's been, i think, something that has helped the stocks well. we just didn't get any ball dropping with earnings or shoe dropping if you will around some new scare on credit. i think banks are seeing a b little bit of uptick in cards and watching trends there. overall, commercial credit remains very strong. consumers where employment is and incomes are still are healthy place. just haven't seen the cracks yet. that uncertainty over the next 12 to 18 months is what is holding the stocks back from

performing better. given what are good ruesults >> goldman sachs later today devin ryan, thank you. >> thank you, frank. let's get a check on the top stories with pippa stevens good morning, pippa. >> frank, starting with intel. looking at a lower valuation for the ipo of the self driving car unit citing insiders with mobile eye with a $50 billion valuation now expected to fetch under $20 billion and sell a smaller number of shares the journal says selling at a lower price and fewer shares means they are hoping to push up the value of the shares once they start trading intel is expected to detail the new valuation expectation today. sticking with tech microsoft confirmed to cnbc it is cutting more jobs after its call for growth to slow.

axios reported the layoffs on monday said the kucuts impacted fewer than 1,000 workers this is three months after the company announced a round of layoffs affecting 1% of the workers. the faa pushing for boeing to review safety documents for the new model of the 737 max jet. the agency has been unable to review the company's submissions for the 737 max due to information related to the cockpit reaction to catastrophic hazards. the move by the faa comes after recently said the aircraft was at risk of not being certified by december deadline set by congress frank. >> pippa stevens thank you. turning attention to the developing story in the uk and fiscal crisis fallout. jeremy hunt saying he is reversing all proposed tax cuts

made by liz truss and former finance minister and mini budget this after the truss plan brought on market turmoil. truss apologizing for mistakes yesterday o yesterday. now she is focused on the path going forward in the interview with the bbc >> i recognize we have made mistakes i'm sorry for those mistakes i fixed the mistakes i appointed a new chancellor we have restored economic stability and fiscal discipline. i now want to do is go on and deliver for the public >> joining us now is carsten brzeski. thank you for being here, carsten. >> good morning, frank >> liz truss out with an apology saying she took the wrong course of action. jeremy hunt reversing all of the moves she made with the mini budget what does it mean for the

short-term and does it have an impact on the u.s. and global markets? >> what it does for the uk is the growth outlook is revised. it brings back stability it brings back confidence of the financial markets with the sustainability in the uk it shows the first time after greece, the new government reversed course on fiscal policy within a couple of weeks it shows fiscal policy is not there to save the entire economy against investors. >> carsten, we are having audio difficulty here with you i want to focus on central banks. you had issues with the hikes that central banks are doing with the impact on the global economy. do you believe central banks are being too aggressive and our fed

in the u.s. being too aggressive with two 75 basis point hikes expected >> the u.s. is not too aggressive i think the u.s. is in a different spot right now the european central banks bank of england and european central bank is looking at the supply side. sorry. it is an energy story. you would need to see interest rates going through the roof t. is important to bring down the demand you asked because the u.s. has a textbook inflation story the fed is trying to bring down the demand of the economy. >> carsten, thank you. we really appreciate your insight. thanks for being here. coming up on "worldwide exchange." the earnings spotlight on netflix as it prepares to roll out results? will it provide fresh legs for the beaten up stock?

before we head to break. shares of fubo tv surging after the sales forecast increasing in the third quarter. it is dropping the sports betting business and reaffirming the positive cash flow for the next four years. apple looking to add a folding screen in 2024 according to ccs the tech giant will be experimenting with foldable technology soon. starting with the tablet rather than the iphone. elon musk confirming via tweet he is joining the earnings call after the market closes tomorrow musk said back in july of 2021 he would refrain from joining all tesla earnings calls ant he has since seemed to chge his mind. imagine that "worldwide exchange" back in a moment ♪♪

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welcome back to "worldwide exchange." stocks set to extend yesterday's gains. a lot of green on the board right now. we are looking at airline stocks de delta airlines up 1.25% we want to look at the beaten down semi stocks all in the green a turn around for semi stocks. amd up 1%. nvidia up 1% time for something random, but interesting. for that, we send it to our own

brian sullivan s>> thanks, frank good morning let's bring back the rbi because something really random but interesting came out on politics don't switch off the tv or radio. we know polarizing politics can be we try to avoid it when we can the exception is politics and business and economy all combine. they are right now in a big way. the most in decades. that is not tv hyperbole a survey out by the new york times and the findings were eye opening and random and interesting. the paper asked likely voter what is is the most important problem facing america today they had to choose just the one thing they are the most concerned about. look at this jobs and economy which includes the stock market is the number one concern of more than 1 in 4 likely voters surveyed at 26% now inflation which was sort of

oddly given a separate category. it should be part of the economy. it was 18% those two related issues which are the same issue are the top issue for 44% of likely voters surveyed in the new york times poll not one single issue each came close to those in fact, the third biggest worry was the state of democracy in america. 8% followed by immigration and abortion rights at 5% each if you are wondering climate change and covid barely registered at all. covid with less than 1% of voters a number of age groups giving it a hash mark. it did not measure at all among some age groups. we mention those because the tiny numbers are random given the amount of time and attention given on the internet. we like to avoid politics as

much as we can and focus on business and the economy, it is clear that right now ahead of the midterms in less than a month, those issues are one and the same random and definitely interesting. frank. >> thanks, brian turning attention now to netflix. we will roll out the third quarter results after the close today. looking to reverse two quarters of subscriber losses and getting set to field questions from the cheaper ad supported t ed tier. the company is looking at ways to stick with the platform longer and visit more often. adding a double thumbs up. let's bring in alex kantrowitz alex, thanks for being here. >> thanks for having me, frank. >> the $1 less than hulu and 2%

less than hbomax will that help with subscriber retention in europe? >> you may see an uptick i think the tier is high it is less than hulu what netflix needs to do if it wants to make an impact in advertising, it needs to draw the masses reach and frequency. a lot of people and message them frequently with the ads so the message sticks with them netflix has an amazing group of people called unreachables by advertisers. people they can't find on traditional tv and radio that is an impact for advertising. by pricing that $1 less than hulu and few dollars less than the subscription tier, it is not drawing enough people. this $6.99 will not do as much as people are imagining. >> you are mentioning $4.99. that is what peacock costs

netflix is $3 less than hbo max. here is the next question. you are saying they are not differing the price. the price is the midpoint with the other players. what other ways can netflix differ and attract people? they don't have sports which seems to be a peg for amazon prime. a lot of people are signing up for amazon prime just to see thursday night football. >> the best way to attract people is make amazing content when netflix came out, they were saying it is technology company. it is using data to understand users and give them content no one else can the content on netflix better than the early days of "house of cards" days? not really you know, they could make better stuff. that's the taste they need to get the taste right. you mentioned live sports. you can't go in and do baseball.

apple tv is doing baseball people hate that stuff it hasn't resonated. playoff baseball game does half a preseason nfl game in viewership if netflix wants to get into live sports, it has to do something big. it has to do nfl or nba. there is the temptation to go half and test and say we'll put more money in. netflix, if you do this, don't do baseball. do football. >> alex, coming out hard against baseball an older demographic still enjoys baseball. maybe that is what apple tv is doing. i don't watch a lot of baseball on tv myself what is next for netflix we saw them doing "gray man. and then a wide variety of shows. that isn't moving the needle what is moving the needle and bringing people back to the platform and make it uncancellable. >> they are measuring time

spent. that makes more sense than views. they would take a few minutes and count it as a view now looking at what is keeping people on the platform some other ideas double thumbs up on a video you like if it was a brilliant idea, other companies would have done it before. the key for netflix is the era of viewers is over the company would say it is competing with sleep that is ridiculous it was competing with other entertainment companies. there is a realization that is what is happening today inside the company. the stock dropped 59% on the year that seems to be right i think with the lower market cap, you may have more sustainable place for netflix. it might not all be bad. this would anticipate the company to change the business this might be more manageable if

you are an optimist. >> it might not all be bad that is not optimistic alex kantrowitz, thank you >> thank for having me. on deck on "worldwide exchange." futures pointing to solid gains. lee baker explains why history is explaining the pull backs may not be over for the markets. not just yet. if you haven't already, follow our podcast if you miss "worldwide exchange" orri slin, banulva find us on podcast apps "worldwide exchange" will be right back what if you were a gigantic snack food maker? and you had to wrestle a massively complex supply chain to satisfy cravings from tokyo to toledo? so you partner with ibm consulting to bring together data and workflows so that every driver and merchandiser

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speaking today a number of interviews on cnbc today the ceos of goldman sachs and adobe and bill gates joining nbc live from the summit be sure to catch my conversation with xpo logistics at 7:10 a.m futures solidly in the green this morning the dow could open up 275 points higher at this point off session highs. s&p futures over the past three hours right now. you are looking at the movement. with back-to-back gains, the next guest is taking a page from the history books suggesting we may not be at the bottom yet in what has been a tough year for the market lee baker is the owner and president of apex financial. lee, thank you for being here. >> thanks for having me on >> lee, the day where we see the futures up big comes with

pessimism. what do you see that makes you think we're headed toward lower lows >> so, i think we're still going to experience some of the swings and ups and downs of the roller coaster ride we have been on i do not think what we have seen in the past couple days is the beginning of the new bull market it is just not there when we look at the last 70 odd years, the bear markets coincide with recession, none of those except covid, have ended before the fed stops raising rates. unless you believe the fed is done and we are not going to get other rate hikes in the next several months, i just say this is not over yet. >> you are saying it is not every yet. are we headed to a recession in 2023 in your mind? what are the indicators? when you look at employment, we don't see those signs. >> i think we're heading toward

a recession. again, some people will argue that the fed is absolutely going to keep their foot on the gas. i do believe they will continue to raise interest rates. i do think we will get a recession next year. the argument becomes is how deep will that recession be and how long will it last? i don't know i don't want to predict that i absolutely believe that 2023 will see a bit of recession. the unemployment numbers will go up we're going to see that number above 3.5 at some point next year right now, consumer spending is still good underlining areas of the economy are still strong i think the fed is going to do what they think they need to do in order to tamp down some of the demand >> the consensus is two more 75 basis point hikes in the next two meetings your clients believe you will see a 50 basis point hike in 2023 how does that set up portfolios

and investment what do you look at with the three rate hikes and two 75 and one 50 potentially next year >> when i look at portfolios and speaking about clients that are longer term investors and not those that are already retirement those portfolios are constructed differently. we are looking at areas that look cheap from historic levels. if you look at small cap historically, they are as cheap as they have been in years listen, you will not try to get too cute with timing a bottom. ing something that is as cheap as it has been in 20 years is a good opportunity in addition to the fact once we come out of this might expect small caps to lead >> you see the russell 2000 up this morning as well i'll let you take away the stock pick we were talking about being

under pressure from the same rising rates that might push us into recession >> i like dr horton. think about it this way. we are still under water in terms of housing supply. i don't think we will have a big correction in housing prices broadly speaking, maybe they come back sooner the very reason that the economy is strong is a 3.5% interest rate those who need housing will buy housing. one early guest said to get that done, maybe they take a look at an a.r.m i don't necessarily expect the mortgage rates to come back as far as the earlier guest suggested. i do think those people that are still employed will do what they need to do to buy homes. we have to continue to increase housing supply i think dr horton will benefit. >> is that a near-term play or

long-term play >> long term. >> lee baker thank you. before we go over to "squawk box" let's look at the markets futures are in the green dow looks like it could open 300 points higher at open. nasdaq and s&p 1% higher right now. that is it for "worldwide exchange." "squawk box" is coming up next thanks for watching. as a business owner, your bottom line is always top of mind. so start saving by switching to the mobile service designed for small business: comcast business mobile.

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good morning futures now pointing to more gains after yesterday's rally on wall street. we will show you what is moving right now. lots of earnings on deck we hear from johnson & johnson and goldman sachs this morning with interviews from top executives we are watching crude oi prices

the biden administration could sell more oil from the spr as soon as this week. maybe for a couple more weeks. it's coming. november. it's tuesday, october 18th, 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 rebecca quick along with joe kernen and andrew ross sorkin. as joe mentioned, the u.s. equities are strong. you see the dow futures are up 310 points this is basically where we were yesterday at this point. s&p futures up close to 50 points nasdaq up 17177.