term policy. we've got to tell them! hey, guys! you're sitting on a goldmine! do you hear that? i don't hear anything anymore. find out if you're sitting on a goldmine. call coventry direct today at the number on your screen, or visit coventrydirect.com. it is 5k a.m. here at cnb global headquarters. and here's your f"five@5." netflix shares are surging the stars are aligning for the year ahead. and in washington, president biden set to announce yet another release from the country's strategic petroleum reserves plus, this morning, investors are getting charged up ahead of tesla earnings. and later on in the show, hang up the pumpkin spice. a new report on just how much

consumers are willing to shell out for some ginger, cinnamon, and nutmeg it's wednesday, october 19th, 202022 you're watching "worldwide exchange" right here on cnbc ♪ and good wednesday morning f i'm frank holland in for brian sullivan let's kick off your wednesday morning with u.s. stock futures. we're in the highs right now the futures in the red to basically down a fraction we're seeing the nasdaq pop back up in the green just a few seconds ago this after another strong day for stocks you saw the dow rally 1% higher, similar gains for the nasdaq and broader s&p 500. a higher close today would mean three straight gains for the major averages. also checking the bond market this morning, yields, we're seeing above 4% on the

10-year. two-year at 4.88%. that can often put pressureon high growth and tech stocks. also looking at energy oil right now, well, it's actually up. we're seeing wti crude at 83 bucks a barrel that's about five bucks less than it was a week ago of course, we're waiting for an announcement from the biden administration on the strategic oil reserves and in crypto, we're seeing bitcoin and ether movement a little mixed bitcoin, basically flat. ether fractionally up. let's get a check on early action in europe and historic data in the uk our joumanna bercetche with our information in europe. >> uk the focus again, frank we got the inflate rate coming in at 10.1 percentage points

core inflation, 6 points the ftse 100 down 0.3% also news the bank of england are going to begin their sale of gilts. they're having an impact on the way fixed income is today. there's a report that the new chancellor may be looking to introduce a new windfall on banks too. some of the domestic banks are looking for a trade. we're watching the political environmental there very closely. some factors beginning to emerge you've got to see how all of that plays out before the prime minister formally announces the cabinet structure. finally we're getting a little bit of green in france just above that flat line, worth pointing out there, too, there have been a lot of industrial strikes, a lot of action

demonstrations the last couple of days as workers are protesting for higher wages and it's having an impact on refivery production in france, too, frank. >> thank you very much. turning our attention to the top story, netflix flew higher netflix added 2.4 million subscribers in the last three months, more than doubling its projections. here's the founder on the call last night. >> thank god we're done with shrinking quarters we're back to the positivity everything the company's focused on, whether it's on the content side, on marketing, lowering prices to the ad supported, the paid sharing, buffer approach lines us up for a good next year all the stars are lining up very well for us. >> one of the happier earnings reports we've seen in a while.

ar arjun kharpal joins us now >> this is what netflix needed to deliver, and they needed netflix to deliver they did deliver in the quarter showing they can eke out a growth in what's becoming a more competitive environment alongside all the macroeconomic concerns as well when we saw the netflix subscriber amount, a majority of it coming from the asian region where it sees a lot of the growth coming from in the future as well. the guidance was key here as well of $7.8 billion in revenue for q4 reed hastings saying it's reasonable, but not fantastic. that was enough for the market that's what they wanted to see netflix has a plan going forward to continue to grow their subscribers. so clearly a very good report

there. we got a bit of color on the support in november. it's strong, but it won't be a material impact in q4, but they expect growth in testimony cog quarters. >> my question for you is where do they continue to find growth? you mentioned a lot of the growth came from the asia-pacific region, but here in the u.s., they're still trying to find not their footing, but a way to keep that advantage what can they do to get that advantage back here in the u.s.? >> yeah. in some respects, frank, really, the u.s. market at the moment perhaps is reaching near penetration in terms of streaming, yes, it's still the early days, but there's lots of things that need to happen for the u.s. market to grow streaming. it could be upgrades and streaming, et cetera it still is an early market, but where netflix is looking now is into the international market. it's going to come down to contend. content is king. in the third quarter and the common quarters, it's managing

to deliver some pretty high-profile and sticky content. that's key, stickiness can it get its users to stay with the platform, not continuing subscriptions you look at the content like "stranger things" and the jeffrey dahmer's documentary, which has been very popular. they're expecting strong hits with the hits ahead. >> arjun, thanks a lot we appreciate it. let's get to another tot story this morning and president biden under pressure to keep oil prices down. our silvana here with much more on the story good morning. >> good morning. so president biden is set to announce an additional release of oil from the country's strategic petroleum reserve today in the range of 10 to 15 million barrels. the move will extend the current spr delivery program, which began over the spring. now, the move just three weeks

ahead of the midterm elections is intended to counteract a european embargo on russian oil which is set to go into effect on december 5th. now, so far this year the white house has released about 165 million barrels of oil from the strategic reserve out of a total that it said would be around 180 million. the reserve is currently at a 40-year low, but it is far from empty. at capacity, it can hold about 714 million barrels. and, frank, sources tell cnbc the president will announce he intended to repurchase oil for the reserve when prices are at or below between $67 and $72 per barrel. >> all right silvana henao with the latest. turning our attention back to the broader markets now, since hitting a new closing low for the year on september 29th, we've really seen some furious

action for the s&p 500 and all the other major averages both to the upside and to the downside with two straight gains of solid gains this week fueled by some stronger-than-expected earnings. is the road ahead all clear now, or should investors be looking for more hazard signs, maybe bringing in more hazard lights craig, great to have you here. >> good morning. i think the real question is this going to be a track or a treat with halloween around the corner there's no question the investors have been spooked by inflation. monetary policy concerns and it's pushed equities into a bear market, frank. >> quick question, i want to ask you. you were pretty bullish about a month ago. you said your year end target for the s&p was 4775 more than 257 moved to the upside from where we are right now. again, that was a month ago. has your price target changed at all, and what are you seeing in the technicals now that's

forming your opinion >> we did low their price target to kind of -- sort of market to market at year end with a little less than 60 trading days to go. we lowered it from 4775 to 3900. what i've got to tell you, i think there's upside to this market for a couple of reasons there are a couple of catalysts for what we think could be a pretty decent move year end. first and foremost, there's a lot of cash on the sidelines when i go through and look at how much cash is there, we're talking $4 trillion. that's $900 billion above where we were prepandemic, frank we've also got seasonality coming up. whether people like it or not, you go back and look at the numbers, and historically post-midterm lections, you see a pretty strong october, november, december third, i'll point out in terms of market breadth, it's really at very, very depressed levels

you can't say capitulation is in the market but when you look at where you're at with cash and market breadth and also the fact that aaii various numbers are at the 99th percentile. you have to step back and say, hmm, this is probably a good time where we could see a relief rally or something more in this market. >> you're saying the technical are slows you could see a rally. my question is if you see an investor, we see people being index investors s right now the time to buy the dip? the s&p down 22% from its high you're saying the signs all point to it moving to the upside. >> i think the answer in short, frank, is yes. i think what investors have to do with these kinds of markets is you're probably not putting a full position on you're probably starting to add to your possessions. remember what ware rehn buffett said, you've got to be fear full

when people are greedy you look at the aaii numbers. >> how do we get there do you have more choppiness? a lot of things coming up. more seasoning earnings reports coming up. another big one with tesla, ibm as well. how do we get to that 3900 >> i think you're going to get to that from certainly some oversold rally coming into play. and when we look at the earnings numbers, the one thing that struck me yesterday and the last couple of days, there's a lot of important things, but stocks are not reacting to the downside you look at some of the earnings reporting we've seen so far p you see stocks moving higher, not only of analysts price cuts but earnings numbers that were not quite as strong as people thought. it seems like we're at a time where the earnings cuts have sort of reset expectations for investors, and investors just did not want to buy ahead of the

earnings prints in reference to the stocks coming up i think it's a combination that could be the catalyst. if you look at some of the stocks out there that we find interesting, stocks like schwab, first interstate bank, dyno in terms of the refiners, there's a lot of construction stocks and you have to at least be adding at this point in time. >> the earnings season not playing out quite how people expected look at adobe. it's hard to figure out. >> craig johnson, we appreciate the insight. thanks for being here. when we come back on "worldwide exchange," much more on netflix and why my next guest is not buying what hastings is putting out. and a bit of a rebound does elon musk have what it takes to top expectations or join "dancing with the stars"? the man's got moves. eight later, a look at sentiment shift, something that could fuel the nt veexmo of the

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welcome back xi jinping is set to serve a third term as the head of the country's ruling communist party, but there's a question on who will join him in the next five years in leading the country. our eunice yoon with more on the names that could play a big part in china's role ahead.

hey, there, eunice. >> i want to update you on covid here in beijing. it's hit a four-month high in terms of infections, so authorities are starting to urge residents to don't self-medicate and definitely report themselves to authorities now, all of this is happening as the congress is underway frank had mentioned that there's been a lot of speculation about what the new lineup is going to be, the elite team under president xi jinping there's one name that's been getting a lot of attention, and that's li chung. he's the head of shanghai. he's received a lot of criticism inside and outside of the party because of his handling of the pandemic there the country was in a two-month lockdown if he does show up potentially as the number or two for

president xi jinping, it would indicate zero covid is here for quite some time and also being loyal to president xi is really the most important qualification to be on the leadership team there are documents that show shanghai is going to start construction of a 3,200-bed isolation facility for covid patients and in hong kong there's been a little bit of a different tact being taken there because they've had so much fallout from zero covid the chief executive john li says they're going to be offering foreign talent, new visa perks to try to get more global talent to the city. and then here in beijing what we've also seen is a bit of pushback to zero covid if you remember last week, there was a protester on a bridge. that situation was very heavily

se sensored across chai narks but there appears to be copycats people are posting the slogans that that bridge protester used and frankly, frank, in public bathrooms because there aren't as many security cameras or at least that's the belief as to why they would be appearing there. >> interesting a lot of developments in china one thing i wanted to ask you about, eunice, are there any data and any rationale as to why that release has been delayed? >> reporter: well, in terms of the actual numbers, no word yet. but in terms of the rationale, there's been a lot of speculation that perhaps maybe the people who were going to publish the data were feeling that president xi would be embarrassed or there would be a distract to the congress, and nobody wants to see that

also, there's another line of thinking that it could be the people who sign off on those documents were either caught up in some of the covid restrictions, possibly in quarantine or the like, and that delayed any decision-making, and the reason for that is in china it looks as though more and more people don't necessarily want to be the ones signing off on the documents if that's not their job. so that could be another reason why we are seeing this delay of course, that bodes poorly for other data that's supposed to be coming out later this week, and also it doesn't really do well for china's image when it comes to reporting economic data. >> yeah, a lot of developments there in china eunice yoon, we know you're always going to be on top of it. please stay safe especially with this surge in covid. this morning, big money movers the sky's looking a bit more crowded than usual plus, how much happy meals are

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welcome back to "worldwide exchange." time for your big money movers intuitive surgical, they're jumping up almost 10%. beating topline estimates for the most recent quarter. the third quarter up from a year ago. profit declined from a year ago because of rising expenses over the past three months the stock off just around 6%, not bad in this market. all right, shares of united airlines flying this morning we should say, up 6%. consumer appetite for travel is showing no signs of slowing down despite the higher fares they continue to suffer the pressures of the macroeconomic environmental and the fourth quarter is expected to be above 2019 for the first time. you don't want to miss a cnbc interview with scott kirby of

united airlines. that's coming up at 9:00. and adobe fell due to the stronger dollar. adobe's looking at $15.45 you see shares are up in the premarket, up 3% they sunday after the bell as well. coming up, the road to tesla as they release their latest results while nigh next guest is a little worried about the downton. if you haven't already, visit our podcast. check it out on other podcast apps "worldwide exchange" will be right back so you partner with ibm consulting to bring together data and workflows so that every driver and merchandiser can serve up jalapeño, d chocolate-covered goodness

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looking at risks, but could another round of earnings provide fresh fuel for gains. and more hawkish speak from one fed official to go beyond rate hikes to get things under control. executives look to turn the page for the streaming giant's struggles. it's wednesday, october 19th you're watching "worldwide exchange" right here on cnbc ♪ all right. welcome back happy wednesday morning. i'm frank holland in for brian sullivan it's right around 5:30 a.m. here in new york.

we want to take a look at stock futures right now. they've been fluctuating all morning. the dow could open slightly in the green this morning, but, of course, it's still early let's hit oil as president biden announces a release of oil from the country's petroleum. we're seeing crude up slightly wti at about $83, $84 a barrel brent crude up almost a percent right now. let's get a check on some of the top stories. our silvana henao is here. she's back with more hey, silvana. >> we have lots to cover another fed official is speak out on the fed's rate hike strategy minneapolis fed president is sticking with husband hawkish tone saying the fed may need to push its benchmark policy rate if inflation does not stop

rising most central bank policy makers expect the rate to rise currently from 3.25% to between 4.5% and 5%. shares of asml holdings on the rise after reporting better than expect third quarter results the company, europe's largest tech company and a key supplier to key manufacturers topping expectations with sales, profit, and record new bookings. asml adding it does not exact a large impact from u.s. chip sanctions on china hong kong is planning to spend billions to attract businesses and top talent. john lee making his first policy address since taking office in july has announced the government will set aside $3.8 billion as part of its plan. it will also allow certain foreign talent to be eligible for a two-year pass for exploring opportunities in hong kong and celsius network is

reportedly facing investigations by federal officials i according to bloomberg, the bankrupt crypto lender is not only subject to probes at the federal level but by at least 40 states the report adds previous filings have shown inquiryies. >> silvana shenao, thanks so much. shares of netflix skyrocketing after hosting better-than-expected results from the top and bottom line the streaming giant posting an addition of 2.4 million subscribers, more than double the last quarter ceo's read hastings with positive news after last night's earnings call. take a listen. >> thank god we're done with shrinking quarters we're back to the positivity everything the company's focused on, whether it's the content

side, marketing, lowering prices to the ad-supported, the paid sharing, buffer approach woe oar doing there lines us up for a good next year all the stars are lining up very well for us. a lot of excitement from reed hastings. let's talk more about this with matthew harrison thank you for being here. >> thank you, frank. though i'm skeptical, we have really had a sell on its covid in the context of having over 220 million members, 2.4 as opposed to 1, i don't think that's that impressive it's light of the 5 million we were carrying. i think they're backing off and releasing member guidance now, and i do agree it's true matic, but i think it's a necessary evil we all have to live with.

it's an important metric we had justed for the dollar effects. the current markets still came in a little light. i think the street is really fueling the advertising as a bit of a panacea in terms of turning the company around i still think that's a bit of a show-me. you look at netflix. it's a media company you have to look at everything in terms of the tv market and you have to be realistic in terms of the competition out there. >> all right so, matthew, we just showed a graphic with your price target at 157 right now netflix is at 272. they're kind of on a hot streak. they have the djeffrey dahmer

documentary and "bridgerton. >> i think the stock still gets street cred as more or less a category killer. i think it's another media company in a highly competitive market when you consider the q4 target was higher you have 14% it seems kind of like a relief reflex rather than something that necessarily narrowed off the fundamentals. >> what can we make of that growth off the asian pacific market versus the u.s. is that the only option at this point? >> they only grew 100,000 in north america. that's probably as expected. i think there's a tremendous amount of respect irv asian growth yochl view to respect the local competition markets like

india and other international companies. remember, that's a very low price point relative to the u.s. that can be low to mid-single digits so, you know, i think if you go back three, four years ago, maybe five years ago, the polls were very excited about india, talking about the markets, the members being as large as the u u.s., and, of course, it didn't materialize as people had expected. >> all right, matthew harrigan we're going to have to keep our eye on it. >> thanks, frank. let's stick to earnings and turn to tesla. shares of the electric vehicle company getting a mild boost investors really focusing on it. shareholders also watching for news around ceo elon musk and his ongoing deal to buy twitter and whether his financing plan will have an impact on tesla

shares joining mu now is tim higgins, author of "the wall street journal" and cnbc contributor. and he's the author of a new book on tesla. i've got to read that. i think the big question now is growth are they going to hit those growth targets that they set out? what's your opinion? we had one of our reporters in china, eunice yoon, talking about zero covid policy still in place, a lot of things in shutdown mode. that's a test for tesla and a lot of other companies. >> that's what people are going to be looking for later today is that growth story. not only does tesla reiterate its 50% growth target for the year, which means they would have to sell half of their vehicles in the final three months of the year, which is basically what they did in all of 2020. that's a huge lift not saying they can't do it, but

what's the enthusiasm for doing it as we all know, consumers are in kind of a weird place right now with all these crosswinds and concerns about the economy and about the future. >> so obviously there's a lot of talk and a lot of scuttlebutt about elon musk dumping his twitter shares isn't that the price of stock? we all know he was going to have to do some of that why is he so concerned we've known it for quite a bit probably he was going to have to buy twitter and have to sell some tesla shares. >> well, he's already unloaded quite a bit of shares for the twitter acquisition. the concern is as he goes to finalize that deal, what other shares does he need to do? what didn't work out as previously planned that's the concern among some investors that once they get past this lockup period, the earnings period, once it's announced, he'll have to go back into the market. there's that concern there's concern over the bullish

investors out there. there could be tesla buyback of shares that could reduce the stocks there are a lot of concerns over where the stock's going to be in the next few days. in some ways this is a growth story and people are always looking for signs of excitement and signs of earnings calls. >> this might be our opportunity to show some of that video of him dancing. what do you expect does he dance around a lot of the concerns investors might have, or does he face them head of on traditionally he doesn't like to look at earnings futures he thinks it's boring or bone-headed. he'll try to stoke excitement for the future questions about inflation where

the customers are, those are sometimes harder to tease out from him. >> tesla shares up by about half a percent. the earnings call. must-listen earnings call. it doesn't happen often on wall street thank you. >> thank you. coming up, your morning rbi and a look at how tough it's been for the markets. plus, a sentiment shift that looks to be taking place among retailers. are pumpkin spices going up? the products on average are cost 14g% more for that pumpkin spiced latte speaking of costing more, mcdonald's happy meals going up. and cactus selling up to $300,000 on sites like ebay. also on high demarngd elon

musk's burnt hair perfume. it's sold out at 100 bucks apiece that means en sklomu pulled in around $3 million. wow. "worldwide exchange" back in a minute

welcome back to "worldwide exchange." time now for something random and interesting. for that we send it out to our brian sullivan. >> thanks. it is time for your morning rbi. happy wednesday, by the way.

today let's stay focused on the markets because really that's been the story on cnbc all year, and as you know, it's been a rough year for, well, nearly everything major stock averages, government bonds, crypto, they're all down. 2022 has been tough as inflation runs rampant, and the fed is, according to some, kind of about a year behind the curve operate hikes. it's been a tough year do you know how tough and also how rare it's actually been? we do thanks to data listen to thchlt going all the way back to 1928, there have only been five years where both the s&p 500 and the u.s. 10-year bond were down that's it. just five. usually when one goes down, the other one goes up and vice versa, but not this year and those only five times were in the years 1931, 1941, 1969,

2018, and this year. until 2018, it had been a 19-year gap since they fell. here's what's interesting. while they were down, there was only one year they were both down 10% or more that's this year that's right, 2022 the only year where they lost 10% of their value or more that is just how rare this kind of year it has been. now to be fair, it's not all bad news keep in mind as bad as it sounds, the s&p 500 is still up 40% over five years. a pretty nice return and bonds, of course, were in a 40-year bull market coming into this year. be sure to keep the long-term perspective. this year truly is an historic year for both stocks and bonds

also, random but interesting. >> thanks a lot, brian. sticking to the markets, the stocks try to add to their latest win streak. joining me now is investor i want to get to some of the hottest tickers and trades in a second first let's start off with where is retailer investment settlement a lot of people got into the bull market during the pandemic. how are they feeling now >> really cautious, frank. cautious but a little promiscuous. we get millions of questions every day on what to do. think about the things that have

been happening lately. you had the spike in ceo trading. that's a 2008 reference. you have s&p futures we've seen a lot of action there and then you have this extreme bearishness which is an indicator. pretty much everywhere you look, a lot of caution you see the money flows. we're seeing money moving in to mid kap and large caps you look at the industrials, the dow leading us out of this bear market. >> you say some of the hottest trades and tickers tesla is number one. there's a cult around tesla. one of the top trades is qqq and one is sqqq, which is shorting

the nasdaq 100 and qtqqq >> you've got this yo-yoing of emotion. you have one betting on further collapsein the qs and other stocks that's pretty much what we're seeing across the board. tesla, of course, is going to be very, very hot today sqs, the tqs, amazon, spy, straight spice, an, the qts themselves you see this extreme pull to the one side of further downside and then the extreme pull to the upside, folks trying to capture that when people search on investopedia, they're looking at

gilts in the uk. they're looking at the margin call and then they're looking for a timeline of stockmarket crashes. don't forget, frank, an anniversary of the black marond anniversary. >> we're going to talk about that the vix is up. you mention people are cautious. are we seeing the same levels of anxiety on the market as we saw last year and the year before? >> not at all. it's the third worst start to the s&p 500. i think in history you can add that to brian's rbi we've never had an ode 180-day start except two other times the anxiety is not as bad as it is, and we check that through the anxiety index.

what fear terms are people looking for? volatility, bear market, bankruptcy they're a little more scared about their personal finances and the macroeconomic environment. not necessarily the stockmarket, which has had this unwinding since the beginning of the year. not so scared about it, but it shows you they're still not ready to jump back in even though the money is starting to flow on the front. >> caleb silver, always great to see you. editor in chief of investopedia. appreciate the insight. ahead, stocks looking to keep up the win streak on the 35th anniversary of the '87 market crash, aka black monday the key lessons to that day and the raelpalls to today's volatility "worldwide exchange" will be right back we got this. life is for living. we got this. let's partner for all of it. edward jones

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♪ ice works fast... to freeze your pain and your doubt. ♪ heat makes it last. so you'll never sit this one out. icy hot pro with 2 max-strength pain relievers. welcome back to "worldwide exchange." another business day we get housing information at

8:30 a.m. eastern. at 2:00 p.m. the fed releases its latest beige book. and later, ibm and tesla on tap. marks coming off two straight days of solid gains as investors find fresh confidence in stocks on the back of quarter earnings the dow looks like it could open up slightly higher today's session a very important one, historically at least 35 years since the market crash. our next guest was there for all the dramatic action and it could be seen as a harbinger for things to come thank you for being here this morning. i'm waiting for the video to end. you've got the shoulder pads and power tie on, yes? not bringing back the '80s

fashion? i see you setting up the camera. can't hear me right now. we're going to have to wait for jonathan to get set. we're going to look at futures again. 35th anniversary of black monday let's take a futures. in the green the dow looks like it could open up more than 50 points high rear it now as we continue to watch just the action. again, the bond yields just above 4%, often puts pressure on mega cap tech. once again, jonathan hurtle, founder and executive of hurtle and mccallahan company i don't think you heard me i was expecting the shoulder pads, power tie, things from the '80s where's that at? >> and the suspenders also that was a big thing in those days. >> was it? >> yeah. >> let's get down to serious business now that we've got things settled dourc d down on technical side

are we set up for anything like that these days? >> you know, basically what happened in '87 is there was a southeast of convenients like any crash. there's usually a sequence of events or confluence of events that led to that crash, and we're not in that situation today. i could go through item by item, but there are a lot of things going on my takeaway from that is, no, we're not set up for something like that. the likelihood of that same sequence coming text is actually quite rare, so that's what my take on that is. >> before we move on, you said one sector was the computer manufacturing. could that lead to -- you're saying it's not going to happen exactly like it happened in '87 butting in similar >> since '82 it's become a much

larger part of the market. in the past they were there to support investing. they developed derivatives one of the terms is a thing called portfolio insurance so there were computer-driven models using dynamic hedging it's much more the way i say jim cramer talks about trading is support investing. you have a good idea, you have something you want to own, and you have something you want to purchase wisely or sell it wisely but the purchase and selling is not the point. the investing is the point since then more and more and more of the trading has become the focus of many people's activity so warren buffett said in his annual meeting this year, he's never seen so much gambling in the market so that's kind of what's going on in the market right now

that partner that portfolio was something that tricontributed to the '87 crash. shortly after that black monday market, the portfolio started going up. >> we have the 10-year yield above 4% as we speak. >> that's hard to live through the point i would say because of where it came from but having a positive 10-year thing is good construction bonds were not an effective tool if we could have a yield, that's a constructive thing you can't predict what is ooh going to happen in the market. you can only prepare how do you prepare you get a lot of assets that you believe in that '87 crash was a very short thing. my view is the decade we're in now, more likely -- you can't predict -- but more likely it

was something from '72 to '82 it was hard. it was flat. people are saying how do we get back to normal, what was like 2019 that isn't normal. this is normal stay diversified, make good decisions. think long term. that's investing. >> thank you for being here. futures rising the dow looks like it could open 100 points higher. on that note, we're going to toss it over to "squawk box. that's it for "worldwide exchange." exchange." thanks for watching.ld bond champion your skin introducing the new sleep number climate360 smart bed. ethe only smart bed in the world tthat actively cools, warms and champion your skin ssly responds to both of you. our smart sleepers get 28 minutes more restful sleep per night. proven quality sleep. only from sleep number.

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good morning stocks looking to build on yesterday's gains as we await earnings from dow components

procter & gamble and travelers. the white house looking to continue to lower gas prices president biden expected to announce an additional release of oil from the strategic reserve. and netflix, shares are soaring after the company more than doubled estimatesof subscribers in the most recent quarter. wednesday, october 19th, 2022, 35 years ago that was the crash of '87. "squawk box" begins right now. ♪ good morning and welcome to "squawk box" right here on cnbc. we are live from the nasdaq market site in times square. i'm becky quick along with joe kernen and andrew ross sorkin. take a look at equity futures. you see right no