it is 5:00 a.m. at cnbc global headquarters and here's your top 5 at 5. stocks looking to go two for two after another cooler than expected inflation print former president donald trump launching his 2024 run for the white house looking to make america great again again. we'll look at what it could mean for wall street from trade wars to corporate culture. am reportedly looking to ease off its reliance on china as a key cog in its global supply chain, now eyeing a factory much closer, perhaps

even at home. plus, it could be the next shoe to drop in the wake of the ftx chance and bankruptcy as u.s. officials waive the extradition of sam bank man freed back to the united states. later on, taylor swift proved to be too much for livenation and ticketmaster and now millions of frustrated fans. it's wednesday, november 16th, 2022 you're watching "worldwide exchange" right here on cnbc ♪ good morning i'm dominic chu in for brian sullivan today kicking off your tuesday. actually it's a wednesday morning with u.s. stock equity futures. this you can see here, mostly higher, modestly so. this is after all, of course t major averages after yesterday's cooler than expected expected ppi print for october. the nasdaq is coming off a more than 1% jump, and right now the

dow jones futures are implied higher by roughly 67 points, the s&p about 8 points, and the nasdaq up by about 23. checking on the bond market right now, yields are still below that 4% mark for the 10-year yield, which stands at 8.0% and the 2-year, 4.36%. currently benchmark, u.s. benchmark wti prices are just about $87.05, up about 0.2%. world benchmark brent up in cryptocurrencies, still weakness on its near to medium term in its carrying bid today crypto is down to 16,716 and change and ether is down almost

2% now, around the world, mostly red arrows in asia overnight, and europe is really just kind of getting its trading day going. let's turn to arabile argument me gumede arabile. >> good morning. dom, that mixed picture coming out of asia, we have seen some flows out of there with europe following suit the key question mark for european trading, which has been around two hours or so today, is really around poland, that missile that has hit poland unfortunately, causing a sense of political turmoil markets are in a little bit of a skid for now somewhat, asking the questions, askingthemselve the questions as to what actually happened from here on clearly that russian invasion of ukraine is beginning to spill over in other parts as well. poland now feeling that impact with a few people dieing there as well. so you're seeing that the european markets are in red

territory for the most part with the ftse 100 perhaps stepping out of sync with them. the ibex in spain losing as well speaking of the ftse 100, we move onto the autumn statement or medium term fiscal plan that's set to come out of the united kingdom tomorrow. you saw inflation in the uk hit the highest levels since 1981 with the levels soaring 11.1%. that's way above market forecast in a statement chancellor jeremy hunt said, quote, tough but necessary decision on taxing and spending will needed in tomorrow's autumn statement. we'll, of course, be continuing follow that statement across the day as it all pulls out. for now, the sterling seemingly better than it was yesterday. >> arabile gumede, thank you very much. let's get a check on today's top stories. sill vana henao has the latest.

>> amazon notified workers in several divisions, according to a post amazon is aiming to eliminate about 10,000 jobs, mostly in retail, devices and human resources, though that number remains fluid. u.s. lawmakers are calling for more regulation in the crypto industry amid the collapse of ftx. among those sounding the alarm are bob menendez, cindy lummis, and pat toomey who say it's been pushed into foreign situations this coming as blockfi weighs a bankruptcy of its own. and tesla revealing two crashes. this according to national highway traffic safety administration

both crashes being reviewed by the agency involved the company's model 3 sedan. all automakers are to immediately report all crashes involving self-driving tech. very scary. >> thank you very much for the headlines. to washington, dc, and former president donald trump making good on his promise for a special announcement as he looks to retake the white house in 2024 nbc's brie jackson joins us with the latest now brie. >> reporter: good morning, dom former president donald trump made it official, announcing a third bid for the white house. all of this came from an event at his mar-a-lago estate in florida. his 2024 white house bid comes just two years after he was ousted from the white house. and a week or more than a week after many of his hand-picked candidates were defeated in the midterm elections. now, in a wide-ranking speech, the former president talked about his time when he was in office and what a presidency would look like if he won in

2024 take a listen. >> i amoun running because i believe the world has not yet seen the true glory of what this nation can be. we have not reached that pinnacle, believe it or not. in fact, we can go very far. we're going to have to go far. first we have to get out of this ditch. once we're out, you'll see things that nobody imagined for any country. >> former president trump has already filed the necessary paperwork to make it official that he's running in 2024. but he does face a series of investigations that's into his business practices, handling of classified documents, and the attack on the u.s. capitol the former president said he would not let those investigations get in his way of running. dom? >> brie, this begs the question. if former president done is going to run again, this is the

gop's kind of poster child for a lot of the campaign over the last several years what kind of competition could former president trump face in 2024 from other republicans? is there a front run teller? obviously everyone is talking about current florida governor ron desantis. >> you hit the nail on the head. ron desantis is a rising star in the gop and he's seen as a top contender against former president donald trump now that he is, in fact, running. another name that's been brought up is former vice president mike pence. and so those are just go names within the republican party that could be stiff competition for former president trump, but it's also important to note trump could face a key matchup against current president joe biden. mr. biden has said he will make his plans or announce his plans about possibly running in the beginning of next year

dom? >> the drama is building thank you very much, brie jackson. to the storying develop at the g20. they're contemning russia's war in ukraine and its global economic impact. the 16-page statement comes despite china's efforts to change keelan garage late on monday, atelts, by the way, that were blocked by other countries. now, this is coming amid an ongoing investigation into two russian-made rockets that crashed into poland, killing two people the "associated press" reporting preliminary assessments by u.s. officials suggest that ukraine fired the missiles as part of an air defense system the report echoes comments from president biden late last night when it said, quote, it's unlikely the missiles were actually fired by russia now, back to the markets and stocks looking to add onto yesterday's gains and further signals of easing inflation, the consumer is once again in focus today with retail sales out

later on this morning and earnings from the likes of target, lohwe's, tjx, and other. for more, let's bring in a ceo which is part of this year's cnbc's financial advisers top 100 list thank you very much for joining us we just reeled off catalysts and variables in the market right now, a market, by the way that is correct's come back strongly in just the last couple of weeks. do you feel like the market bottom is in >> no. we're cautiously optimistic at this point, watching a number of undercurrents.

et they're watching the fed fund rates. we're looking at the interest rates that ticked up in noble's reading. we're not fulling calling in a bottom but we're beginning to be more optimistic. >> kaleialoha, the reason we like featuring you is you have derek contact with many clients out there on the retail side of things, whether they're retail, ultra high net worth i wonder what the interest rate is like right now. is there more -- are there more questions, i guess, coming from your client about the equity sigh of things, the genesis of that, or more on the fixed in and interest rate side of things right now? >> i think in general clients

are just really questioning where the economy's going to go. we're receiving a lot of questions. are we going into recession. if so, is it going to be deep or is it going to be more of a soft landing? we think we're going to be able to sidestep reaction we're here in hawaii and surrounded by the pacific ocean, and so i like to use water analogy. we're looking at three undercurrents, one i mentioned with the fed the second is looking at the dollar and how it has recently fallen i think that lends to some possible opportunities and some of the multi-nationals and even commodities. our clients are asking us not only where are there opportunities, but, again, where is there risk. we're typically preservation of capital-minded, son and trying to sidestep the risk and we definitely see as you've seen in

the cryptocurrency markets, there's still tremendous amounts of risk in some pockets of the market so side-stepping risk, looking for opportunities with really high-quality companies that may have sold off kind of with the baby in the bath water if you will in the recent market downturn and finally the really significant question for our client is when will we know the ultimate results of the mid-term elections. to us, policies matter, leadership matter, community agendas in washington matter, at least set the tone for regulatory action. and in this case, we're telling clients, you know, gridlock is somewhat beneficial for the markets because we can anticipate some of the dollar pressure we saw from regulatory action and possible tax rate increases being alleviated somewhat with the possibility of

gridlock but then yet there's still volatility when we start talking about debt ceiling so i guess bottom line for our clients and concerns, what we're telling them is there are opportunities, but they still need to be cautious and exercise real strong discipline. >> all right i wish i was there with you right now. thank you very much. have a great day >> come visit. >> we will come visit. be sure to join the cnbc financial advisers summit on january 6th where we will discuss key themes of the market turmoil, inflation risk, macroeconomic headwinds and pre providing strategies for all investors out there. scan the qr code you see on the screen to register a huge group of very influential speakers coming up on your screen. when we come back on the show, nasa encountering countless delays and setbacks, feeble launching the artemis rocket and the full moochblt.

plus, a relief rally or real move higher? we talk chinese tech stocks and whether the sector has turned the corner in a meaningful and substantial way. and later on, apple looking to bring key parts of its supply chain a bit closer to cupertino. a busy hour ahead when "worldwide exchange" returns afr isre teth bak dad, we got this. we got this. we got this. we got this. life is for living. we got this. let's partner for all of it. edward jones at adp, we use data-driven insights to design hr solutions to provide flexible pay options and greater workforce visibility today, so you can have more success tomorrow. ♪ one thing leads to another, yeah, yeah ♪

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all right, welcome back to the show after months of delays and setback, nasa finally launching its first artemis rocket at around 1:45 a.m. eastern time down in florida. it marks the first leg of its expected 26-day journey to the moon and back. our own morgan brennan joins us now with the latest. morgan, this is just the first of what's to be many artemis missions to come how significant is the launch in and of itself? >> it's a historic launch. dom, to your point, fourth time's really the charm here 1:47 eastern time this morning to be exact. this mega moon rocket built by nasa for nasa blasted off from kennedy space center >> three, two, one, boosters and ignition, and lift-off of artemis 1. we rise together back to the moon and beyond.

>> this ushers in a new era of american space exploration it kicks off nasa's artemis program 50 years almost to the month after the final apollo moon landing artemis 1 is this uncrewed mission as it's known. it's now the mosa's deep space capsule. that capsule, which is called orion is going to carry around before it splashes down in the pacific ocean next month it will actually land on the moon it's a major program for na sachlt it's a major program for the space sec to they estimate $40 billion has been spent so far from 2012 to

2 2021 the big contractors include boeing, lockheed martin, others spacex received a contract for starship which is being developed at the lunar portion of this to take astronauts to the moon to give it color, some drama leading into its with some technical issues around the fueling and around the radar, which is part of the reason this launch pushed back about 45 minutes from its original go time when it did actually get up in the air and lift off, jodie, our producer on site at kennedy space center right now tells me it actually triggered car alarms with the power, the thrust of this rocket lifting off. >> all right so, morgan, as we're watching the videos of this again, there's nothing like watching a

rocket take off, a space exploration mission. it's what captivated so many americans over the last several decades, and it's great to see this coming back i guess the conversation tilts a little bit more toward this part of this, i guess, artemis program, which is nasa so much conversation is evolved around the international space station. a collaborative effort, a lot of countries participating. this artemis, how much does it mark the u.s. alone and its attempts at supremacy for space all over again, right? this idea we could be the ones that will now have the front or leading edge on the that next leg of space travel and/or possible colonization down the line >> that's right. i think there's two points to that yes, this marks a shift from what has been focused on low earth orbit by nasa in the last several decades to go back toward deep space.

we've been this idea to your point of colonizing the moon or staying there and being able to study it more closely, capitalize on the resources, and eventually making moon the stopping place, gas station if you will, for trips to mars and beyond years into the future artemis is not going to be -- it's not expected to necessarily be a solely u.s. program and mission, but it does speak to this race that's taking place. we talk about the competitiveness, the strategic competition between u.s. and china here on earth thchlt's something that's playing out where the moon and where space is concerned as well an extension if you will of those power competitions that we see unfolding. >> it 'twas u.s. and soviet union decades ago and today it's

the u.s. and china. still on deck for the show, this morning's big money movers and why cruise stocks are expected to start lower. sharply lower. we'll be back after this

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welcome back to "worldwide exchange." i is been a mixed exchange following president biden meeting with china's xi jinping

at the g20 summit on monday. there's a nearly 40% gain just this month meanwhile names like alibaba, jd.com and meituan muted this is all ahead of earnings reports from others coming later this week. joining me is the managing partner at msa capital ben, we often turn to you for color and context. we've spoken to you numerous times about whether the bottom is in for chinese tech, can it be investable again. do you feel like we've seen more data points that make that the case oer is there still more downside to come >> i think in the short term we have the bottom. the 24th of october was an irrational overreaction from western markets particularly around the outcome of the central party congress you know, on that day, i think i

called bottom at least for the midterm. we've seen movements over the last few weeks that we anticipated as the government tries to stabilize everything. we've seen announcements around the property space, seeing zero covid roll backs things are generally on a positive trend could be in more tub lance as they react to evolution on the ground, but it feels more stable today than it did three weeks ago. >> ben, i want to call your attention and viewers and listeners on sirius xm as well and headlines crossing right now. this is coming from reuters. the headlines say basically the u.s. watchdog gained good assets to audits of chinese they gained good access in

auditing work done on new york-listed chinese firms during a seven-week inspection. four sources of the matter said a key step toward a long-standing bilateral dispute. this is a reuters report citing sources. that's held in the premarket some of these u.s. listed chinese tech stocks like jd and others up in the markets do you believe as though, ben, this kind of improved transparency into the books, so to speak, accounting and financials at chinese firms, could provide more clarity for investments going forward? >> we've heard similar reports and rumors over the last couple of weeks the overboard folks were doing an inspection. it wrapped up faster than expected and we were told it was satisfactory that hopefully starts to

diminish some of these threats, that there could be massive listings listed on u.s. exchanges and hopefully paves the way for future listings. we essentially had an entire shutdown for lists of chinese companies since the listing in the middle of 2021 a critical move. but, again, part of those list of actions that we expected to come that were very much within the control of chinese government regulators to improve conditions for global investors in the market. >> ben, it's not all rose-colored glasses here. there are reasons why the chinese tech sector has been under pressure for the better part of the last year or two are there still things that worry you about investing in some of these chinese tech stocks >> certainly certainly the lack of clarity around the regulatory conditions in the market continues to be perv pervasive. there is still a broken sense of

trust and west eaern investors today don't believe they can believe the chinese market they don't have access to primary sources. i'm also fearful of geopolitical risks as it pertains to the u.s. government i think there's a potential for looming u.s. capitol ban into china, something that could come by an executive action in the coming weeks that could affect the capital in the chinese market from the united states. so those types of bilateral geopoliticalrisks are pervasiv as we have seen coming out of the u.s. essentially sanctioned type actions in the last month in the chinese chip space. >> ben harburg, msa. we appreciate it. call it a taylor swift tech glitch as the pop star proves too popular. yes, maybe not shocking there. too popular for the likes of too popular for the likes of livenation and ticketm

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stocks looking to build on the tuesday turnaround as investors gear up for another wave of retail data and earnings futures right now, they're big. the fallout from ftx's collapse growing as another lender finds itself on life support and new details emerge about sam bankman freed's race to keep his bank forum alive.

and donald trump making it official, making a bid for the white house, vowing to make more great once again it's wednesday, november 16th. you're watching "worldwide exchange" right here on cnbc ♪ welcome back to the show i'm dominic chu in for brian sl u van. let's kick off this half hour with equity futures looking to gaines right now the dow is implied higher by roughly 71 points. modestly higher. the s&p 500 higher by 9 points and the nasdaq would get a 25-point boost let's get a check on this morning's other stories. silvana henao. hi, silvana. >> hi, dom according to bloomberg apple will get the semis currently under a plan in arizona.

that facility is expected to come online in 2024. the report adds that tim cook revealed the move during an internal meeting in germany, adding that apple would buy more european made chips as well. elon musk offering a new date for the rollout of twitter's revamped subscription verification service, musk tweeting that twitter blue will roll out november 29th to make sure it is, quote, rock solid. the new date comes just a few days after twitter paused the rollout and halted new signups amid a wave of accounts impersonating brands, celebrities, and other high-employee file accounts. and ticket master feeling the wrath of swifties everywhere the rush by fans to buy tickets for taylor swift's first tour in five years overwhelming ticketmaster's website, some users reporting apparent crashes or other issues with the site. the company owned by livenation will be modifying future rollouts including rescheduling

releases. >> a lot of fans trying to shake it off silvana, thank you very much for those headlines. earning season rolls on. target set to report this morning before the opening bell on the heels of walmart's stronger than expected third quarter results yesterday. walmart shares climbing in yesterday's session after the company raised its fourth quarter guidance and initiated a fresh $20 billion share buyback program,walmart looking to see if target was able to deal with its inventory and added shoppers basically our next guest spends time with the companies we spend money at. my understanding is that the full year outlook was raised because of the significant rate, but the fourth quarter still remains relatively unchanged is that, though, a positive that

can carry through to the rest of retail >> well, dominic, thinkly are elements that will carry through to the rest of retail, but there are also elements for walmart that it's executing at a high level and it's probably taking market shares against the more affluent community of consumers. with that being said, i think target is going to show progress both from a sales side as consumers rely on target for household essentials and food products as well as other items. it will help make progress with its inventory. it always tends to be volatile around its print i think if you take an intermediate to longer term view with the stock, it's going to be a good one to own in 2023. >> all right so that implies then that you likely have a favorability rating, possibly a buy on this stock. is there anything catalyst-wise you would be looking for in targets results later on this morning that you feel could give it the same kind of or similar

price action to what we saw with walmart yesterday on the heels of what is announced >> well, what the market is going to be looking for is a couple of things one, how is it making progress with that inventory position it came into the quarter saying it had $200 million to work through. we think it made good progress with that, and likely will come into the fourth quarter in much better shape number two, how are all the different promotions that we're seeing across the retail industry already for the holidays going to impact target's ability to compete? there's a lot of concern out there that target is going to have to lower its implied fourth quarter guidance to reflect the intensely competitive environment. if that's the case and it creates volatility around the stock, it's just going to make a better entry point for what should be a very good name to own into next year. >> and, michael, before we let you go, this is the

all-important entry into the holiday shopping season. for many retailers out there, do you have a favorite if it is or isn't target >> target's one of our top ideas. we also like other defensive oriented gains like dollar general, o'reilly automotive we near a very uncertain economic period. our view is you want to take a more defensive posture for at least the next six months because of all the pressure that's weighing on the consumer. >> michael harasser with all things retail. to a developing story and what could be the next shoe to drop in the wake of the collapse of ftx, this amid new calls for crypto regulation in washington, dc, no surprise there. cnbc.com's mackenzie segal with the latest on what we can expect on the latest news cycle with ftx. mac. >> that's right. it's blockfi reportedly preparing for a potential

bankruptcy filing, this after they halted withdrawals of customer profits now, blockfi is one of several companies that signed deals to be rescued by ftx over the summer after a sharp plunge in crypto prices. blockfi obtained a revolving loan and they gave ftx an option to purchase the company. dom? >> so, mac, we're also following reports that sam bankman freed, sbf as many people call him on social media, could be making his way back stateside of his own free will or by other means. can you tell us more about that? >> yeah some of bloomberg is reporting both u.s. and bahamian authorities are discussing the possibility of bringing bankman

freed to the u.s. for questioning, though no comment yet from any party involved including the justice from washington and the attorney's office from is the southern district of new york it's been made clear, these are only talks number one has been placed under arrest or taken into custody this comes as bankman-fried and other employees have spent the last few days to try to raise money, as much as $8 billion from investors in the hopes of repaying ftx customers >> and, mac, one more. any new comments from lawmakers, regulators about all of this it's a hot button topic for much of main street america right now. >> we are starting to hear some grumblings from capitol hill among those sounding the alarm are bob me anyone dez and cindy lum miss and pat toomey who says crypto has been pushed into

foreign jurisdictions. and federal advice chair for supervision is warning for the potential of, quote, systemic risk should the ties between the crypto world and more finance should develop further. >> the lavest there with mackenzie sigalos. we appreciate it. coming up, former president donald trump throwing his hat into the ring for the 2024 white house run. what it will mean for the economy, markets, and more. first, a check on this morning's big money movies shares of tencent music surging 30% in hong kong, the highest level since the company listed them back in september that tracks a 30% gain in tencent's positive receipts yesterday after the chinese streaming service reported better than expected third quarter results on an increase on ad sales and a number of paid users. 29% gain in hong kong.

and advance auto parts sales are slumming they sold cheaper branlsd. aap shares down 13%. and shares of carnival are tumbling after the cruise line announced plans to raise more debt carnival will launch a sale of $1 billion in convertible notes that are due in 2027 shares of rivals, royal caribbean and norwegian also falling on that news carnival sres wnhado 11%, 12% premarket. "worldwide exchange" is back after this trading easier. with its customizable options chain, easy-to-use tools, and paper trading to help sharpen your skills, you can stay on top of the market from wherever you are. power e*trade's easy-to-use tools make complex trading less complicated. custom scans help you find new trading opportunities. while an earnings tool helps you plan your trades and stay on top of the market.

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welcome back to "worldwide exchange." former president donald trump officially launching his 2024 presidential campaign telling would-be voters he's back to make america great again again the announcement comes just a week after republicans lost key midterm races, some in the party to blame president trump for the lack of the red wave eamon javers joins us more with the announcement and potential maga makeover, again ea eamon, is this make america glorious again >> it is the president who was involved in an insurrection of the capitol announced again he's going to run again in 2024 to

retain the office. the former president used the phrase make more great again it was incomplete. here it is again. >> our country was great it's not great anymore it's the laughingstock it can be greater than it ever was before, by a lot there will be more, much more to come in the months ahead there are so many things we can do >> now t campaign announcement was not ignored by the white house. president biden is traveling overseas but he issued a tweet last night in response to the former president's announcement saying that donald trump failed america and releasing a video pointedly criticizing trump's entire term in office point by point from the current president of the united states so clearly at the white house, they're taking this as a political threat to joe biden should joe biden decide to run

again. that decision has not been forthcoming yet. but the former president donald trump is a much diminished figure here, dom, after those midterm elections as you pointed out. we saw an announcement last night from this daughter ivanka trump who was a senior white house official in the first administration said she will not be participating in politic this time around, dom. >> forget about joe biden and the democratic party president trump face as very staunch battle within his own battle with regard to who's going to be the figurehead, the mantle barer for the gop in the presidential election. can you take us through the landscape there and just who becomes the biggest -- threat is maybe not the right word -- the biggest competitor in the gop? >> at this point, dom, you have to say donald trump would be the front-runner for the nomination. he controls an enormous swath of

the party. the question is can any other figure in the party challenge him head-to-head since his announcement ron desantis in florida seems to be the most likely figure to have the power to do that, particularly emerging from the midterms relatively stronger than so manufacture of donald trump's candidates he said, look, this is a person who pushes candidates who are too extreme to win and costs us the mid temp elections where we had a chance to take over the house and senate that didn't happen trump getting a lot of blame for that inside the party. i think the big question is what does maga mean these days particularly when it comes to business in corporate america? is this a maga movement that's acceptable to sort of bash individual companies, tell individual ceos what to do, what do these culture wars mean in

terms of guy rites and abortions and what do those mean for profitability and corporations across the economy a lot of people are looking at this and wondering if they'll get the support and executive support. >> i'm glad you brought it up. there's been a lot of news, many headlines with regard to the so-called so to speak maga donors in the republican party those people, the captains of industry, big hedge fund people, wall street titans who have supported the gop before, are there worries they are tilting away from president trump and the maga movement? >> sure, absolutely. we've got reporting to that effect on cnbc.com right now there are worries among the trump campaign folks that he'll be -- it will be difficult for him to attract corporate donors. it was already difficult for him to attract donors back in 2020 there were ceos who supported

trump the last time around a lot of them had backed away from him by the time of the 2020 campaign the people who did tend to support him tended to be ceos who owned their companies outright or private companies and founders who had no board of directors to tell them what to do or people who controlled their board of directs or who had a handle on it people at publicly traded companies with active boards tended to not be in a position i would expect that will be the same this time around, dom. >> eamon javers with the latest on former president donald trump's reelection bid for 2024. thank you very much. "worldwide exchange" will be back right after this.

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homegrown tomatoes...nice. i want to feel in control of my health, so i do what i can. what about screening for colon cancer? when caught in early stages it's more treatable. i'm cologuard. i'm noninvasive and i detect altered dna in your stool to find 92% of colon cancers, even in early stages. early stages? yep, it's for people 45 plus at average risk for colon cancer, not high risk. false positive and negative results may occur. ask your provider if cologuard is right for you. consider it done. welcome back to "worldwide exchange." let's bring in the ceo of diamond hill heather, this is a situation where the market has rallied strongly in the last five to

seven trading days do you feel like that means we all should get better about putting a shopping list together >> i don't know that that's what it means, we should get our shopping list together i think we've had a lot of volatility this year, which creates tremendous opportunity, especially for people with a longer time horizon in the latest quarter and that's what creates the opportunity here, dom. >> if the opportunity is there, which parts of the market have become in your mind become attractive given the recent selloff? >> let's start with financials i think that's an era that's gotten hit pretty hard we think the bank looks good they've invested hugely in technology they're the largest investor or i should say lender to small businesses by a long shot, more than 50% more than the next

competitor they employee provide loans for businesses i think other banks really can't compete in the long run. you're getting a bank that is discounted because it's a bank and because it's working with small businesses and certainly that's a challenge part of the economy in the short term, but i think in the long term we know that can be the engine of our recovery, and they've invested in a technology that you essentially get access to at a very, very lowdown side. >> now, heather, it's also retail earnings season, the retail end focuses on big names. walmart yesterday, we've got target out later on today. what do you think the retail side of things looks like in your mind and are there opportunities there? >> i do think there are opportunities there, but i think things can get worse before they get better you have to go into some of these situations knowing that. one company reported yesterday i thought we might talk a little bit about, too, is home depot.

home depot is clearly in the retail space, although interestingly has a much bigger market share with the pro homebuilders than its biggest competitor, lowe's we think it looks pretty interesting because there's an opportunity for the mrkt to be concerned about what's going on with interest rates that home building will slow down or people will stop investing in their houses, but i think that's a short-term concern when you consider the quantity of underbuilding that we have experienced across the u.s. over the last decade, plus really since the financial crisis we've had so many more than we have had the ability to build more houses to meet that demand that i think in the long run, the housing demand is really a great backdrop for a company like home depot. i should mention, too, home depot has a great focus on return on investment capital

their sale per square foot is higher than their closest competitor there are fun things about home depot we think is really interesting. >> a couple of big picks from heather brilliant of diamond hill thank you so much. >> thank you, dom. that does it for us here at "worldwide exchange. the dow implied higher by orwi ehae"iloints. "wlddexcng wl be back tomorrow. "squawk box" is coming up next once he's all on his own? this is financial security. and lincoln financial solutions will help you get there. as you plan, protect and retire. ♪ with gold bond... you can age on your own terms. new retinol overnight means the smoothing benefits of retinol are now for your whole body. plus, fast-working crepe corrector diminishes wrinkled skin in just two days. gold bond. champion your skin. well, we fell in love through gaming. but now the internet lags and it throws the whole thing off. when did you first discover this lag? i signed us up for t-mobile home internet.

ugh! but, we found other interests. i guess we have. [both] finch! let's go! oh yeah! it's not the same. what could you do to solve the problem? we could get xfinity? that's actually super adult of you to suggest. i can't wait to squad up. i love it when you talk nerdy to me. guy, guys, guys, we're still in session. and i don't know what the heck you're talking about.

good morning, the futures pointing to a higher point amazon cutting jobs. the report saying yesterday's layoffs came from the election news that you heard zwroo and the cloud aiming division. and former president donald trump making it official,

launching his bid for the 2024 presidential election last night at mar-a-lago. it's wednesday, november 16th, 2022 "squawk box" begins right here ♪ good morning, everybody. welcome to "squawk box" on cnbc. we're live at the market from times square i'm becky quick along with joe kernen and andrew ross sorkin. you will see green dow up by 56 points, the nasdaq up by 6 and the s&p by 6 the ppi numbers show there was less inflation than expect and than sent things off to the races with the markets later we heard reporting about the twil