it is 5:00 a.m. on wall street here is the top "five@5. tech driven rally as buyers embrace the risk-on trade. what jay powell said yesterday that is putting some at ease. adding to the gains. meta's stock is set to surge at the open it is not just the fed two more key rate decisions on deck. and the $100 billion market meltdown hitting the pockets of

asia's formerly richest man. later, first shchevron and then exxon and now shell doing something for the first time ever it is thursday, february 2nd this is "worldwide exchange. well, good morning, good afternoon or good evening. welcome from wherever in the world you are watching i'm brian sullivan good thursday morning. let's jump in and get a check on u.s. stock futures a mixed bag this morning maybe a little more green on the screen for the nasdaq. nasdaq futures looking really strong, by the way a lot of that is facebook. nasdaq futures up 176. the biggest pop, at least i can remember, this year. so far dow futures slightly in the red.

speaking of the nasdaq with the 2% gain yesterday, the index on pace for the first five-week win streak in more than a year biggest gainers like amd and microsoft and tesla. before we talk meta. we will get more on that in a moment. in the bond market, yields aring moving down following the fed call the 10-year treasury at 3.41%. similar for oil. it is mostly lower crude oil over $76 a barrel. opec kept its output plans unchanged. next full meeting, likely in-person meeting, will be in june crypto has been the market story of the year. crypto just keeps moving higher. bitcoin at $23,800 crypto, bitcoin and ethereum, the best performing asset

classes, by far, so far this year who would have thunk it? not me. we have a lot to do in the next 59 minutes. let's start with the federal reserve and jay powell raising rates by .25%. that is the fed's eighth rate hike cycle of the cycle. it takes it to the highest level since 2007 powell did little to signal this would be the end of the hikes, but he used a new word disinflation >> we see inflation coming down for the reasons we thought we understand why housing inflation would come down. a story will emerge on the non-housing services sector soon enough there is ongoing disinflation and we don't yet see weakening

in the labor market. we have to see >> now disinflation is a fancy word in the slowing of inflation. inflation still going up, but at a slower pace. the fed is just the first in a trifecta of rate they signi -- rate decisions this week. this morning, we get the decision from the bank of england and european central bank we have full team coverage of both this morning. joumanna bercetche is standing by outside the bank of england and annette weisbach in the central bank in germany. we have expectations from the uk with joumanna. >> reporter: the bank of england is expected to hike by 50 basis points today taking the rate from 3.5% to 4%. this is the ninth consecutive rate hike in a row and certainly

there is pressure on the bank of england to continue along the path of monetary policy tightening we had headline inflation for the month of december at 10.5% private sector wage growth at 7.2% all this at the expense of the economy. you note earlier in the week, the imf released the projections for 2023 the uk stands out for being the lowest in the world. the economy will grow at minus 0.6% for 2023. back in november, the bank of england had a dire economic projection minus 1.5% this year there is an expectation they might have to upgrade those growth forecasts the economy is deemed to still number recession the markets are watching out for any language with inflation deceleration and if inflation rates have started to drop

faster than the bank of england anticipated. one final thing to watch is the vote split back in december, two policy members voted for no hike at all. it seems as though going into the meeting the vote will be more evenly split. the majority will go for the 50 basis points hike. we may get some calling for 25 basis points and some calling for no change. that means the bar for further significant rate hikes of 50 basis points is probably a lot higher than it was before. brian. >> joumanna bercetche, thank you very much. that is in england now let's get to annette weisbach outside the european central bank in germany. >> reporter: hi. the situation is similar to the one in uk. the european central bank is expected to hike the financing operation rate by 50 basis

points to 3% also the deposit rate is expected to be hiked by 50 basis points to 2.5% the inflation picture is a bit better here on the continent than the uk. inflation rate just yesterday came in lower than expected. it is a downward trend, but very much ahead of the target of the ecb at 8.5%. what we are seeing here in the euro area is what they call in the central bank second round effect high wage demand across the continent especially here in germany. the service sector trade union is calling for a whopping 15% higher wages and we are seeing food prices on the rise. core inflation being very s sticky that is a concern for the policymakers behind me in the european central bank. what is expected is in terms of interest rate path so the terminal rate will be somewhere

between 3.25% and perhaps 3.5% that should be reached by june or july this year any wording change from madame lagarde of the ecb hiking the interest rate significantly might be a surprise to the market on the darker side. brian. >> annette weisbach in frankfurt. thank you very much. let's get closer to home and get a check on the top corporate story, just one big one. silvana henao is here with all things facebook and meta silvana. >> brian, good morning shares of facebook and meta platforms surging ahead of the open shareholders something a number of reasons to celebrate. not least of which is a $40

billion stock buyback. average revenue per user and first quarter sales outlook all of which topped expectation. it is not all easy sailing revenue fell year on year. that is the third quarter of declining sales. cost and expenses ballooned 22% to $29 billion the ad market remains uncertain. ceo mark zuckerberg says areas are worked on in what he calls a year of efficiency >> there's going to be some more we can do to improve productivity and speed and structure. by working on this over a sustained period, we build a stronger company i'm focused onn building a bettr product. if our business out performs our goals, it manages our theme for the year >> the stock is set to open 20%

higher and set to open at the highest level since june brian. >> well down from the 350 last year a little break anding b breathig room for the meta shareholders silvana, thank you folks, see you in a few minutes. we will take a short break when we come back, insight from tiger 21's michael sonnenfeldt and why it could be a big year on stocks why history says this may happen it is the rbi. you want to hear it. later on and more than $1 billion later, the man over adani group losing over $1

billion in a week. we will tell you about it coming up that's what you get from the morgan stanley client experience. you get listening more than talking, and a personalized plan built on insights and innovative technology. you get grit, vision, and the creativity to guide you through a changing world. ♪

welcome back let's talk interest rates and business markets and best entrepreneurs. i spoke at a conference for tiger 21 a group of high net worth families and business owners and people who built and sold business we spoke with founder and chair

michael sonnenfeldt. we talked about the fears and the economic slowdown. >> brian, we have so many mixed signals in the economy some pointing to a 15-year event. on the one hand, 16% of members think we're going into recession. on the other hand, they feel they reduced cash 5% to 10%. if you add private equity and public equity, it adds up to 70%. our members are more heavily invested than anytime in 15 years. how do you be heavily invested and be concerned of recession? >> i'm assuming, michael, these are -- to be an entrepreneur, to be a longer term optimism.

you are a successful entrepreneur they are looking down the road stocks are down last year fine i'm invested for years and decades to come. i'm assuming that's what they say. >> our members by accomplishment are 1 in 10,000 as an order of magn magnitude. if you are a football player, 1 in 17,000 m we are all-stars of entrepreneurs. most have sold the business and moved to be a wealth preserver they want to get involved in businesses they can see and touch and real estate they can kick they want to be the first to solve the problem. not the last when you have been doing that for 30 years, you know you can prosper in good times and bad. this is a stark green light-red

light. it is interesting to make sense. >> i got to meet at your members. i joked saying you love your real estate. they do. you survey them. 23% are exposed to real estate in some way. what was interesting is the private markets are a lot more interesting and growing every year than the public markets buying public stock on cnbc is interesting, but not as interesting as private markets it feels like the private market has come into its own p the last few years. >> one issue is real estate was king for 15 years. it was the largest allocation. in part, that is because our members made so much money in real estate. it created a lot of wealth it is not that 23% of the members have real estate, but assets of members is in real estate i'm highlighting that because it

was closer to 30% and we have never seen such a fall real estate had been king. now it is number three after private equity and public equity it was interesting one of the speakers yesterday, a name everybody would know, saimd s said he would not invest in real estate he feels prices are too high i thought it was an amazing that the wisdom of crowds are members crowd sourced to the same opinion and difficult vesting real estate slowly for the last year >> let's wrap with this, mi michael. the fed reserve raising interest rates again. they expect more increases ahead. little more hawkish than people thought. how do you think higher interest rates are going to effect the tiger 21 community, but real estate and all of the other investments? this is one of the fastest rate

hike cycle thes we have ever se. >> one thing about the conference like this is people can express a diversity of opinions the overwhelming opinion is interest rates may have peaked or not continue to grow as quickly as possible. there is a saying there is nothing like high prices to kill high prices. when you have high interest rates, it change behavior so much and there are so many things going on in the economy with reduced demand. whether container rates or supply issues or used cars for that matter. that's all peaked six or eight months ago labor is tight and many components have started falling. it is a better bet that interest rates are not going higher. >> thanks to michael sonnenfeldt of tiger 21. and changing face of the

australian dollar and chatgpt goes premium just some of the top trending stories are coming up. stick around it was just take, take, take. so i broke up with bad banking and moved to sofi checking and savings. now i get higher interest, pay no account fees, and get my paycheck two days early. break up with bad banking. get up to 3.75% interest, pay no account fees, and get your paycheck up to two days early. download the sofi app and earn up to $250 when you set up direct deposit. sofi. get your money right. (swords clashing) when you set up direct deposit. -had enough? -no... arthritis. here. aspercreme arthritis. full prescription-strength? reduces inflammation? thank the gods. don't thank them too soon. kick pain in the aspercreme.

welcome back why don't we hit the big money movers elf beauty shares popping after the company topped earnings and revenue estimates for the third quarter and raised outlook elf says it was driven by retail

and commerce channels marking the 16 straight quarter. eyes, lips and face. it is not a tolken character visilign technology rises on earnings beat. it will buy back up to $1 billion of stock in the next three years. lastly, deutsche bank. the bank smashing profits for the fourth quarter nearly doubled expectations. mostly, though, due to a boost in revenue ceo contributing that to higher rates and saying the bank has been successfully transformed over the last three years. that stock not responding. deutsche bank down 2%. now to the big story that is rocking india and the global

financial markets. shares of adani group. down again conglomerate of a bunch of stocks the total losses topped $100 billion in the past week it comes after short seller hindenberg research of stock manipulation it raised concerns ofthe adani seven listed companies it went so far as to call it the largest con in corporate history. obviously adani group has come out and said that is nonsense. they disagree. adani enterprises is plunging 20% 20%. we will have a share sale, but it was shelved it was a setback for the founder. a college dropout turned billionaire. until last week, he was asia's richest person not anymore.

slid in the ranking of the forbes to 16th from the third. the company is still raging. let's talk about it with the reporter covering the asian markets. weilun w wi weilun, how big is this story in asia and india i know it is big here. >> it is all we have been talking about the last few days. as you see, the stock markets have been going down the stock prices of adani group companies have been going down and that has captured the attention of the traders and investors over here. people are keen to learn more about what is going on behind the scenes in the conconglomera. they want no more. in india, people are asking

questions and what it means for the corporate governance of the indian conglomerate. this is a big headline in this part of the world. >> i saw video the man, adani, for you who don't know, he is a college dropout and started companies and has seven different stocks he was the richest asia in india. he is 16th he is just fine. weilun, he was trying to ease concerns saying the balance sheet is fine,es s et cetera it does not appear to be working to calm people down. >> brian, that is right. you are absolutely right the video came out earlier today. this came just right after they called off the stock sale which would have been one of the biggest in india in history.

after calling that off, he issued the video to investors. this was released through the company video channel. that failed to convey confidence of confidence as you see the stock price with the secondary share offering has continued to tank. we are now at $100 billion as you pointed out, brian shrink $100 billion in market value for the seven listed companies. that has been the theme going on for the past week. >> now, i want to be clear hindenberg research has their point of view. it was plain calling the company kind of an accounting fraud. clear up what adani group is saying in their defense? i don't want to be one-sided on

this how does the company defend the accusations? >> right i think we have to be very clear that what we have not heard from mr. adani is his direct addressing of the allegations. what he has said so far is the conglomerate allegations are the attack on india itself and on the economy. what he has done in terms of calling back the shares sale is he is trying to protect the investors from the losses that we see after the share price has fallen from adani enterprises. on the other hand, the cfo at the beginning of the middle -- middle of last week, he

addressed the allegations. they have sought to attack it on indian people. in summary, they have not addressed the allegations directly this remains to be seen where there is a good response to that. >> unbelievable story. great reporting, weilun soon this story is a long way from being over captivated the markets weilun, thank you very much. have a great night. let's get a check of the headlines outside of the world of money and business. for those, let's go to nbc's frances rivera in new york frances. >> brian, good morning we start with the wicked weather and rising death toll in the south. eight people were killed in texas and arkansas after an ice storm ripped through the region. more than 350,000 texans are

without power. george santos is investigated by the fbi over the claim the republican stole $3,000 raised to pay for surgery for a navy vet's dying dog the veteran richard ostoff said an he is speaking to the fbi and handing over everything he has santos is calling it shocking be an -- shocking and insane. and it is groundhog day. p punxsutawney phil has been accurate 40% of the time over the past ten years i don't know what will happen. here we are in february and no snow yet my kids are dying to go out and play in snow we are waiting >> i think first off,

punxsutawney punxsuhil doesn't e the longest stretch without snow in 20 or 30 years. don't quote me on that i'm not the weather dude it is unbelievable finally got cold and your kids are in long sleeve t-shirts in new york crazy. >> it is crazy it will be cold over the weekend. still no snow. nothing. >> well, okay. i don't want to make you feel bad. i'm off tomorrow i'm in the mountains of colorado where there is a lot of snow >> rub it in okay, brian. >> i know. yes, i will. i'll make a bunch of snow angels frances, thank you six feet give me a little pouwer. frances, thank you. ahead, it is not just m

michael sonnenfeldt, but what could happen with the end of the tightening cycle from the fed. we are back right after this

(swords clashing) -had enough? -no... arthritis. here. aspercreme arthritis. full prescription-strength? reduces inflammation? thank the gods. don't thank them too soon. kick pain in the aspercreme.

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. flexible data plans mean you can get unlimited data or pay by the gig. all on the most reliable 5g network. with no line activation fees or term contracts. saving you up to 60% a year. and it's only available to comcast business internet customers. so boost your bottom line by switching today. comcast business. powering possibilities.

welcome or welcome back. i'm brian sullivan good to have you here. let's get to how stocks are looking on the back of the post-fed meeting rally stocks futures technically are mixed. dow futures are down a bit excuse me. the nasdaq futures are soaring right now. up 168 points. nasdaq set to surge. a lot of that is meta. we will get to that in a second. nasdaq on the pace for the first five-week win streak in more than a year. look at the s&p. it is up slightly. let's look at bonds. sharp moves lower post fed i got that out somehow bond yields. 10-year treasury at 3.41%. oil is lower nasdaq is really the story we will get more on the markets and your money in a moment let's check on the other top headlines happening now. including, you guessed it, more

job cuts in technology silvana is back with that. >> brian, pinterest is laying off 150 employees. these cuts equal less than 5% of the digital search company work force come after a previous round of layoffs this past december the move comes as pinterest prepares to report on monday sam bankman-fried being banned from attempting to contact former or current employees of ftx or alameda. the judge saying sam bankman-fried is no longer allowed to use signal or other encrypted apps this amends the bail conditions after prosecutors claimed he reached out to at least one of ftx's employees to influence his testimony. and kevin mccarthy is looking for common ground on reaching a deal with the debt ceiling with the president

after the sitdown with the president at the white house on wednesday, he is seeking cuts in raising the borrowing limit. the president said the debt limit should be raised without conditions both sides agreed to continue talks around the debt ceiling. brian. >> all right silvana henao, thank you very much now let's talk about meta. for real facebook shares surging 20% right now. the company had sales last quarter, but the story is staggering $40 billion buyback mark zuckerberg saying the management theme this year is, quote, a year of efficiency. they are focused on becoming a stronger and more nimble organization they had a massive round of layoffs. let's see if that stock buyback, $40 billion, one of the biggest we have seen, draws negative an fr -- attention from the white

house. this coming on the busy day of earnings with apple and amazon and alphabet all reporting tonight after the close. let's talk about it all with nancy tengler. cio of lauffer tengler nancy, any desire now to get back in with this buyback? >> brian, thank you for having me congrats on your new show. very exciting. >> thanks. >> we started exiting meta last year the trick is to figure out when to get back in one of the things we have never liked about meta is the two shared class structure which allowed mark zuckerberg to have

a tremendous insight to investors. we ask ourselves if we like our model. i don't. i think there are better places to be. i'm thrilled for investors in there. if you rode it down and ride it back up, you are still under water. we added tesla in january. we happened to get lucky on that one. we want long-term sustainable gr growers. meta is there. they are expense reduction reviewing. all of the companies will benefit from the weaker dollar this is not the company i want to be in for the next five years. >> the stock will get a lot of attention on cnbc today, nancy t.nancy. this was a $350 stock roughly to begin last year. even with the pop today,

investors are basically back to where they were four or five years ago. this is not a fixed story, is it >> it isn't. you have to look at the regulatory headwinds that may come their way and have already come their way it adds a lot more competition in the digital ad space. we will hear from amazon and apple today. there is nothing wrong, but we want to focus on the drivers of the digital revolution and the old economy companies embracing the digital revolution that is where our focus is we own names like microsoft and service now and apple and amazon and google meta is not one we will get back into. >> are you expecting any giant buyback announcements from apple

or amazon or alphabet tonight, nancy? >> i think so, brian investors want to hear, especially from amazon, they miss the 1.5 b$1.5 billion expee reduction in the fourth quarter. there are reasons for that buybacks will put a floor on the stock price. we are eager to hear about that. it is all about margins and guidance i think with apple, you have one of the most disciplined companies in the history of corporate america. they have not announced layoffs because they did not over hire we will be interested in global demand we have a 20% of install base that hasn't ungraded phones in four years think of that as a back order situation. we are eager to hear about that as well. >> what a big night.

apple and amazon and alphabet. i do not envy the closing bell or fast money crews tonight. thank you for the shoutout the new show "last call" kicking off in a few weeks nancy, thank you >> thanks, brian >> you're welcome. coming up, your morning rbi and maybe some more good news on stocks this year we've got some numbers and some history that you will thank us for hearing. i promise. you will hear itand go that s show's all right we're back right after this.

welcome back it is time for the morning rbi let's get interesting on the stock market and another reason to be optimistic do you remember the rbi a few days ago and we talked about what ryan detrick called the try ef -- trifecta ryan showed how that tends to be good news for the year we did that before the end of january. now january is over. guess what we ended january with nice gains. so, we pulled off that trifecta or triple play of higher stocks. what does that mean? it may not mean anything let's be clear

we said this before. every year, every situation is different. that said, there is a nice history on our side. especially when we have the kind of january that we have. carson group and jones trading, note this, when the market goes up more than 5% in january, after a negative year, you got that down the year before and then we get a 5% plus to start the new year it tends to be real ly good news it only happened five times. 19 1954, 1961, 1967 and last year look at the numbers. in those times, the markets boomed for the full year if you are listening on the radio. i'll read it off the smallest annual gain was 1975 when the s&p on rose only

and air quotes here, 21% the average return was 29.76%. in 1954, the markets were 45%. wow. so, a lot of numbers there the bottom line is that we just did something that has only been done five other times. a down year and big january. all five times you made a lot of money the next year. meaning this year. now that may not happen. we know that how about that at least you got a little history on your side, my friends. random but interesting and maybe random but profitable. i think those are amazing stats. put a little spring in your step to start this thursday. on deck, are we close to a rate hike wind down? the growing voices suggesting powell may take his foot off the

gas pedal. if you missed us, you can find us on "worldwide exchange" podcast. well need to change that soon. frank holland will be here we're back in a second cloud platform.id now data is available anywhere, securely. and your digital transformation is helping find new ways to unlock energy around the world. ♪ at morgan stanley, we see the world with the wonder of new eyes, ♪ helping you discover untapped possibilities and relentlessly working with you to make them real. ♪ because grit and vision working in lockstep

♪ puts you on the path to your full potential. ♪

welcome back time for the "wex-wrap up. shares of meta $40 billion buyback. we will see if that get criticism from the white house. and bed bath and beyond missing interest payments after the lenders warn it was overdrawn. bed, bath rks , bath & beyond o file for bankruptcy. and pg&e to face

manslaughter trial over fatal 2020 fire. t comcast selling shares in buz buzzfeed. and adani group shares falling 30% after the wiping out of $100 billion in value this year this after the company being called a fraud by hindenberg research. and a blockbuster year for shell posting $40 billion profit oil joigiant announcing a buybak of $40 billion there is the wex wrap-up you get jobless claims at 8:30 this morning and factory order numbers.

that takes a backseat. you have earnings from eli lilly and honeywell and apple and ford and alphabet you have a pair of central bank rate decisions and european central bank i'm tired thinking about it. i'm just tired. let's get to your money. it is clear we are closer to the end of rate hikes than the beginning. jay powell gave no indication of clear time going, two investors believe the fed is close to pausing its rate hike campaign here is what michael sonnenfeldt said to us this morning. >> the overwhelming opinion is interest rates may have peaked or not going to continue growing as quickly as possible there are so many things going on in the economy with reduced

demand whether it is container rates or supply issues or used cars these peaked six months or eight months ago labor is tight, but many components have started falling falling. it is a better rate interest rates are not goinghigher. >> i think it is tough to make the statement ongoing increase unless you had very substantial change in economic conditions. we don't have that much time we have two employment reports as you pointed out and a couple of cpis. i think one more >> all right let's bring in david katz. chief investment officer at advisers group david, how much are you eyeballing the fed and timing on rates? >> you want to watch the fed

it has been a headwind as they aggressively raised rates. we believe they are almost done. that is a bullish sign for stocks we think inflation has broken. it allows the fed to stop raising rates one or two more. we think the stock market looks at the economy and longer-term outlook. we think that is pretty favorable. >> you know, a little bird, by that, my producer told me that you own meta meta is like right now until tonight, the stock story of the day nice pop this morning. what is the bull case on meta, david? >> yesterday's call was a much better call. zuckerberg finally started to focus on the cost side they put out $5 billion in the next year. they talked about reels doing better he also started to focus on

artificial intelligence as a product rather than the meta metaverse. they are starting to talk about bringing into the bottom line much earlier people thought zuckerberg lost his way and spending like a drunker sailor he has a good long-term upside the investments are making sense and they are controlling with the costs along the way. >> i almost feel like you offended drunken sailors, david. who knows? we'll see. you seem to like out of favor beat up stocks one of your themes and paypal would fall into that another name you own listen, drunken sailors would have made fun of paypal's performance last year, david. >> they should have. the stock is down from 300 down 70% management started to focus on

the cost side. they have a good product and market share they are finally running with profits in mind. from the $80 level, it has a 30% to 50% upside we think a lot of last year's biggest losers down to reasonable valuation and paypal down 17 times earnings, we think a lot of leaders are not going to do as well this year. you want to look through the wreckage good businesses thrown out last year. >> i think if somebody asked me and nobody would ask, but if they did, what is the biggest company you never talk about with market cap. we never talk to the ceo if i had to answer, amgen. biggest bio-tech in the world. we never talk about them maybe that is the reason you like them. what is the bull case on amgen

>> they have done well they have a diversified portfolio. they are growing in low double digits pays a 3.5% yield. they had earnings yesterday or the day before the market was a little luke warm the if you bought on the dip, it does better the following three months we think this is a good buying opportunity for amgen. they are very shareholder oriented >> $260 median price target on the $246 stock meta, paypal, amgen. that's some drunken sailor conversation david, thank you folks, i'll be off the next couple days here heading out west to colorado with this weather, how can you not? you have to get the vacation

days in before the new show. that does it for us here on "worldwide exchange. nasdaq futures soaring "squawk box" is next see you next week. full prescription-strength? reduces inflammation? thank the gods. don't thank them too soon. kick pain in the aspercreme.

good morning the fed nudged up interest rates and has more hikes to come we have a recap of everything we learned yesterday from jay powell. shares of meta are soaring this morning this after revenue beat estimates and a $40 billion buyback. shell is the latest energy giant to report record profits and debate over them and windfall taxes will accelerate it is thursday, february 2nd,

2023 "squawk box" begins right now. good morning welcome to "squawk box" here on cnbc live at the nasdaq market site in times square. i'm here with melissa lee and mike santoli joe and becky are off. thank you for waking up early. you have been doing it all week. today is an exciting one, i think. yesterday and now so much stuff happening. a lot to discuss >> the afterglow >> this is the afterglow party u.s. equities this hour experiencing -- i don't know about the afterglow. dow off 46 points. nasdaq 58 points