keith morrison: how often do you think about jessica? missy nelson: every day. harry nelson: every day. that's all for this edition of "dateline." i'm natalie morales. thank you for watching. [theme music] ♪ good morning welcome to "street signs." i'm julianna tatelbaum these are your headlines this morning. inflation fears take hold as european equities slump and bond yields hit highs lagarde says there could be enough hike this month >> i expect the 50 basis point hike for march and it looks like

also for the upcoming meetings in may and after may activist investors seek to spin off hsbc asian business demanding a vote at the meeting in may. beijing holds up arms attempts to offload china and sending shares sharply lower. and elon musk master plan fails to create a spark. tesla stock slides as he doesn't provide details as production costs are slashed in half. good morning warm welcome to today's program. we are looking at muted trade in europe this morning. stoxx 600 off to a slow start.

down .80 points right now. this is following a tough day yesterday. the stoxx 600 pulled back 0 .7% hitting a three-week low this came after a significant selloff in bond markets sparked by regional german inflation which showed acceleration in price growth and set the scene for the eurozone cpi that is coming out at 10:00 a.m. london time. that is a key focus for investors. if we get a hot inflation report, it could set the stage for price hikes from the european central banks a lot to play for in the trade and earnings on top of it. let's look at the boards from the regional perspective smi is up 13 basis points, but other than that it is a down beat day dax and cac 40 are both down

ftse mib is lower and the ftse 100 is trading on the flat line. as we look to today's trade, construction and material up 1%. real estate and utilities catching a bid we have banks down 1.3 as you saw in the headlines, the chip makers are getting sold the tech sector down 1%. perhaps related to the arms story which we flagged in the headlines. for context yesterday, we had two sectors higher basic resources and autos. a strong bid on the back of the stunning china pmi data yesterday in the session that has fallen in today's trade. i mentioned earnings here is a picture of names in focus. the health care sector down 2.81%. in the chemistry space, pulling back 4% from the chemical giant

in germany raw materials and cost inflation is a big burden on the company and also on the sector we heard similar lines from basf earlier in the year. we also have london stock exchange down 1.1% we will detail those numbers for you later in the program i wanted to get an early check on the big earnings names. on to bond markets, the selloff yesterday was related by the significant selloff in bond markets. here is where we stand right now. the 10-year bund at 2.74 in italy, it is trading 3.46%. and yesterday we saw a lot of action in the fx markets the index lost 0.4%. now the dollar is gaining back

the ground the dollar strengthening against the euro and sterling. str sterling is trading below 120 mark lagarde says decisions would be data dependent for hikes, but further hikes are a possibility. the ecb is using all of the tools at its disposal. the bundesbank's nagel is tracking the hotter than expected cpi numbers anne annette called up with him in germany and announcing the first loss in 44 years and asked about inflation in the near term >> it looks like for the next months, inflation will stay on

very high levels i expect for the second half inflation might come down to a certain extend what we expect for this year for germany is an average inflation rate of 6% to 7% too high it means for monetary policy that we have to do our job the expectation for the march meeting is clear it is clear it is not over. >> you were saying early on that you were expecting significant rate rises after march is it just one significance for a couple of rate hikes which we are seeing >> i guess speculation for the moment what is coming is beyond march. this is not helping. it looks like what i see now that the march numbers that i expect are still on a very high level. i expect the 50 basis point hike for the march meeting and it looks like also for the upcoming

meetings in may and after may. this is something on top to do it is a journey. i do not know where the neutral rate will be or if we are getting into the negative territory. it doesn't look like in the moment we are seeing the negative territory it is really something should be data dependent i have to wait for the march projections. >> the other issue is the qt and you were suggesting that asset purchase or shrinking of the balance sheet should be faster >> first of all, the shrinking of the balance sheet is very important. we already decided to do this monthly reduction of 15 billion. this is the first step. it is related to what we are doing on the interest rate side. i hope there is a majority because we have to do more

i think we have a large balance sheet. the asset purchases brought us to a size of 5 billion that we bought over the last couple years. that's a long way to go to bring this balance sheet down. i believe 50 billion, yes, is okay for a monthly reduction, but it is in my interpretation, not enough >> the wednesday hot inflation point is set to bring about the reading. economists reported an easing from january to february from 6.81% to 6.2%. stateside, neel kashkari has signalled he may back a 50 basis point rise given the hotter than expected data last month the personal con ssumption index rose 5.4% in january

kashkari hasn't ruled out additional rate hikes this spring >> given the data in the last month, which has been a strong jobs report and higher inflation that we expected and these are concerning data points suggesting we are not making the best progress as we would like to me, whether 25 or 50 is less important than the dots. i have not decided at this point what my do it is -- dot is going to look like i will push up my policy path. >> adam cole joins me from rbc capital markets. ad adam, thanks for joining the show this morning. all eyes on the eurozone inflation print today. if i look back at what we heard at a country level, we have spain and france and now germany surprising to the upside on inflation.

is it fair to say the persistent inflation narrative is not just about one country. this is a eurozone wide phenomenal >> that was certainly the case in february, yes given the consistency of the upside surprises in the country data, the real expectation for the morning's figure is well above the measured consensus so, yes, in the february data, that is the case longer term, there is a question mark of whether we passed the peak and how inflation falls from there that is the direction of travel, yes. >> what does it mean for the ecb to have inflation running hotter than expected? we heard from nagel yesterday that the march hike will not be the last and further significant rate hikes are in store or might be necessary in the future how many more 50 basis point hikes do you see from the ecb?

>> probably one more and then a slowing in the pace from there as is the case with central banks globally, there is great uncertainty around that. the degree to which inflation slows through the course of the year is still very uncertain so, as we have seen with the fed, the risk of markets on pricing and then forced to re-price, the resumption of the central bank tightening cycle is high from here like central banks, themselves, we are sensitive to increment at infor -- incremental information that changes our path for the year. >> i want to wrap up on the european side of the equation. how is it heading into today's print and what is the market pricing in >> so, i think short-term market is probably after the moves in

february long dollars against the euro and not substantially so not compared to some of the points through the course of 2022 i think the combination of february's selloff in bonds is positive dollar environment and positioning is swung through the course of february to reflect that >> let's move on to the u.s. side of the equation in addition to the german regional inflation print yesterday, we also had the ism manufacturing print stateside. prices paid of the ism looks to the surprise on the upside what is the fed calculus at this stage and are you more worried of the fed tightening or under tightening >> i think the prices paid data

and not informative series they tend to reflect movement in commodities prices what the fed is focusing on more is firstly the actual incoming data given the degree of uncertainty and secondly the developments in the labor market and what it implies to inflation 12 to 18 months forward. i wouldn't worry about the survey i think tension is elsewhere of the -- elsewhere as is the case right now, the uncertainty is where the peak or terminal rate in the u.s. will be we moved from plateauing for most of the latter part of last year to now pricing in successively higher levels for the terminal rate in the u.s it needs, i think, a turn in the data, labor market or inflation

data to stop >> let's move then to something or somewhere where it sounds like you do have conviction. that is your tactical stance on gdp. what makes you say that sterling isn't an attractive play at this point? >> very short-term view and based on the risks that everything that's happened this week regarding the northern ireland protocol arguing for sterling taking out something of a risk premium it has been carrying the change in the northern ireland protocol doesn't change the uk economic prospect in and of itself. what it does do is effectively kill off johnson's northern ireland protocol bill which is still hanging around the house of lords at the moment with that bill killed off, the risk of a very damaging trade

war between the uk and europe diminishes greatly i think for that reason alone, there is an argument for a diminishing risk premium in sterling beyond that short-term view, it is hard to find anything positive to say about sterling i would stress that short-term tactical trading view longer term, we still are structuring negative on sterling >> that's very clear, adam i appreciate that view there yesterday, we were looking at some positive trade in the early action after what was a stunning pmi surprise out of china. it looks the recovery, according to the pmi is going well we saw a sharp reaction in the usdnc why on the lower of the back of the data what is the outlook of the yuan? >> i think ironically, the incoming data from china are

finally starting to look better and we are seeing some evidence of those leading indicators that reopening is driving domestic demand higher. we don't think the yuan is the way to play that side effect of the strong domestic growth in china is likely to be deterioration in china's external accounts. the surplus will constrain the degree the way our asian strategists will play the recovery in china is through the other currencies, particularly those which under performed like korea it is a positive cyclical story in china, but the betterplays on it are elsewhere in asia. >> adam, i appreciate it adam cole at rbc sticking with asia,

shareholders in hsbc calling for a vote at the up coming meeting in spinning offer the business the group of 100 retailers is speaking a vote within weeks emily tan has more >> reporter: hsbc minority shareholders are demanding a vote at the upcoming meeting in may. they are keen on the resolution which would see the bank form a formal plan to spin off the business 100 investors are calling for a breakup of the bank. the second proposal is t restore dividends to 51 cents per share up from 32 cents this comes as hsbc reported a 32% surge in profits some hsbc shareholders are questioning the latest push given the improved returns and stronger cash distribution plans. under the uk company's act, it is required to give a notice of

resolution after the request from 100 investors who have a right to vote. the largest shareholder was the first to suggest the breakup of the asian business last year and in november, it raised the idea to cut costs by cutting jobs and disposing non-asian business reporting from hong kong, i'm emily tan. anheuser-busch beat on the profit growth for the fourth quarter as volumes for sales declines the brewer made up for the declines with price adjustments and it sees profit between 4% and 8% this year you have to wonder the relationship with the price rises with the negative impact on volumes or raise prices i would say it is the former. now in the chemistry space,

the company covestro confirmed a full year ebita of $1.6 billion euro for the year and in line with the preliminary results the ceo said he expects to continue to face an economic climate faced with difficulty. >> we have been hit by higher raw material and energy costs and met in the second half of 2022 and weakening demand. we expect we have also clearly guided for the full year 2023 that the challenging economic conditions will stay for some time and that is why we also have as you said guided the market on the financial kpi to be below previous years and greenhouse gas emissions will be around last year's levels. merck warned of a drop in

revenue for covid related lab supplies it missed expectations, but reaffirmed the 2025 sales guidance paleon has revenue up 13% year over year shares are taking a hit this morning down 3.3%. the ceo told cnbc the group's brand portfolio contributed to strong sales despite the worsening macro environment. >> it was plus 9%. that volume miss of 4.7% and pricing 4.3% is a real testament to the role that health plays for consumers. health matters and the fantastic brand portfolio we have and brands like advil. fantastic portfolio and resilient brands

as we look at 2023, we continue to strive to have a balance between price volume and mix we expect to have that in 2023 we expect it to be a little more skewed toward pricing in 2023. we expect to see volume growth in the year. the u.s. fda advisory committee has endorsed the efficacy of the vaccine caused by rsv for people aged 60 and above. they were compared to the study from pfizer which that vaccine was recommended on tuesday really fascinating area in health care that is getting focus stateside. you see positive reaction in gsk. and moving to the london stock strange, shares are down in lseg.

revenue beat on the year on the back of the data from refinitiv which it bought in 2021. steve spoke to the ceo >> the answer is yes, we have a great business model across asset classes and customers and currencies and geography 70% of revenue is recurring with sd stable and growing models. we have 30% of revenue exposed to asset classes across markets. we tend to benefit from volatility in the markets in those parts of the business. great business model doing very well. really through thick and thin. coming up on the show, france's tourism spending hit a record high in 2022, but ski resorts continue to struggle with high prices and lack of snow pile on the pressure.

we'll discuss more after this break. ah, these bills are crazy. she has no idea she's sitting on a goldmine. well she doesn't know that if she owns a life insurance policy of $100,000 or more she can sell all or part of it to coventry for cash. even a term policy. even a term policy? even a term policy! find out if you're sitting on a goldmine. call coventry direct today at the number on your screen, or

visit coventrydirect.com.

there's always a fresh deal on the subway app. like this one! 50% off?! that deal's so good we don't even need an eight-time all-star to tell you about it. wait what? get it before it's gone on the subway app! welcome back to "street

signs. french tourism spending hit a record high last year. visitors spent 58 billion euro surpassing pre-pandemic levels tourism accounts for 20% of the overall gdp. one area that struggles is the skiing sector. resorts are facing higher prices we have dominik tilo with us wonderful to have you with us. thank you. interesting topic. top of mind for many watching this show who may be hitting the slopes right now i know school holidays are taking place in certain countries in europe right now. how is the ski season shaping up with the cost of living crisis afflicting so many >> good morning. the season is going very well at the moment i think we will be recording the

number of skiers this winter we remember last year with some remaining covid-19 and we were closed until the end of january. this year, everything is open. there is snow up there difficult at the beginning of the season with the snow in the north of some alps now everything is going well with suddenly a lot of snow and it is getting colder we are in the position to deliver the best possible experience for our customers >> i was going to ask for a bit of a breakdown into what exactly people are doing when they are going on their ski holidays. you have a number of different revenue scrtreams you have holidays and other things for those who don't ski,

myself included, can you give us a sense of what people are doing? >> people in all business lines are making the leisure part which was reduced in the sense of household spending. right after the crisis, now, we are expensing a different model. the model is people want to secure or reinvent their leisure business or life so that is why there is a very strong appetite for all types of leisures leisure in the ski resort inspite of the growing inflation rate in france and throughout europe at the same time. >> during the pandemic, i think everybody was so eager to get

back outside after literally stuck indoors from 1 to 2 years. to what extent has that affected your business? have you seen that turn up have you thought about the normalized rate of interest in the holidays as the post-pandemic period normalizes? >> during the covid-19 crisis, we were wondering what was the next step. and the appetite has been very strong activity has bounced back very well and this is what we are spending this ski season the older lientele is back the french and uk are the main markets for the french alps. we are not exposing the resort

to the russian clientele there is a strong appetite to come back to the mountain. >> interesting that the story may be different if you are operating in areas more heavily reliant on skiers from russia or china given the intense lockdowns in place there i read an interesting piece about how some holiday goers are seeking alternatives t ss to the traditional mediterranean summers with the heat and opting to redirect their holiday funds to winter holidays do you have data on that are people opting for winter holidays over summer holidays? >> actually, what we are expensing for the market is

everything that opened early this year this winter season and the same situation for leisure parks and ski resort and traveling abroad actually, there is once again the leisure part of their lives and they want to reinvent that and resecure that. there is no difference with winter and summer. they want both this is something which is coming after the crisis. they want to, once again, secure the leisure part of their life this is the key element. >> let me ask you more long term it sounds like short term business is pretty good. when you think long term, climate change is a significant risk how do you think about that and

how do you manage the business on the long-term basis and account for the fact it may be harder and harder in the future to have natural snow in many of your regions >> actually, the company operates high altitude resort. we are pretty less exposed to a short-term impact of the lack of snow what we have decided is we are doing our share whether we are working on the net zero project so in some years time we should be in a position to delete the carbon footprint and at the same time, we are investing we reestablished the rail service from london to both st. moritz to the ski resort to help the mobile shift from aircraft

to train actually, we took the risk this year to reinvest in partnership with eurostar to reestablish that rail service. this is a lot of small actions that will have an impact on the global warming at the end of the day, the company is safe for the next 50 years. this is not a reason not to do anything at the moment i am very much involved in that and investing in that and we hope that a lot of people will follow in 60 or 70 years time, we will be short of snow and this is why also we are investing to create a new attraction for mountain resorts during the summer season >> really interesting to think

you are already working that into your business planning at this stage fascinating conversation ceo of compagnie coming up, the uk financial services hopes to recover some businesses with the eu we will discuss next

when we started selling my health products online our shipping process was painfully slow. then we found shipstation. now we're shipping out orders 5 times faster and we're saving a ton. go to shipstation.com /tv and get 2 months free.

welcome back to "street si signs. i'm julianna tatelbaum these are your headlines inflation fears take hold as bond yields hit ultiyear highs christine lagarde says there could be another rate hike this month. >> i expect the 50 basis point hike for the march meeting it looks like also for the upcoming meetings in may and after may. investors seek to spin off the asian business of hsbc with

the vote demanded in may. beijing holds up arms attempts prompting fears of other chip makers sending stocks lower. and elon musk fails to send a spark in investors musk fails to offer details on the next generation ev despite the promise to cut costs let's get a check of yo european equities. the stoxx 600 hit a three-week low yesterday. pulling back 0.6%. losses are accumulating. every region trading lower

we had green on the board for the swiss market, but the smi is trading below the pflat line. dax is down 1.6% cac 40 down .50% all eyes on the euro area cpi due out at 10:00 a.m. london time a lot of expectation this could surprise after the acceleration in price growth in germany and france and spain. chinese officials are delaying arms move to offload venture in china ahead of the public listing paper work has been stalled since may as china looks to protect the chip industry. arms says the share transfer is complete both it and softbank declined to comment. we are seeing a pull back on the chip makers this morning on the

concerns of the story and if the countries may struggle to lose even ties with the country you have ams down 2% i infineon down as well this morning. arm has ruled out selling shares on the london stock exchange as part of the ipo despite of the year of lobbying from politicians for a london listing. the british firm is focusing on new york and will not rule out a second listing in london in the future softbank ceo says he prefers the u.s. brussels is open to working with the uk on regulating financial services after the windsor framework agreement with northern ireland removing the logjam with britain and the eu according to the financial

times. the eu is ready to sign an mou on the issues which have been stalled for two years. the uk government hasn't been contacted by brussels about it yet. in a first on cnbc interview this morning, david scwimmer spoke out. >> london continues to play that role we see that across multiple asset classes. you mentioned that was a statistically aberration for a short period of time of the if y -- short period of time if you look at the liquidity, there is no question that london is the leading financial center and i expect it to continue to be that way. >> let's welcome the next guest to the program chair of the uk equity markets thank you for being with us. so much fodder in the headlines

i mentioned. when it comes to the uk future as a financial center and relationship with the eu let's kickoff with the report that brussels is interested in a friendlier relationship with the uk with regards to financial regulation the financial times indicating the uk hasn't been approached by brussels yet is it brussels to sync up with the uk >> it is really an interesting point. good morning i think the uk ema and some things we are interested in are about furthering the midcap sector we want to make that thrive in the uk we see with the edinborough forms in the brexit.

we see some of the issues in brussels which is interesting and definitely more confidence building between the two countries which i think is encouraging, but we're on a journey to make the uk more competitive and putting more companies back on the stock market in the uk that is where we need to focus our efforts. >> what do you think has been missing? the uk government has talked a lot about wanting to lure more investment here and more of the high tech listings so far, the efforts have not paid off what are the barriers? what can be done differently >> if you look at the last 15 years, we have seen a significant number of companies come off the stock market. 40% of companies reduced in thes terms of the stock market listing. we want to encourage for companies to come on the arm reports today are

interesting, but, you know, they have not ruled out uk listing in the future what we would see and the key premise of the uk is greater retail participation in the uk markets. we know arm is a well loved stock within the uk and well known to the uk investors on the retail side. we would encourage getting some retail participation of that stock whether it is listing in the u.s. or otherwise. >> that is an interesting point. i did a digital video on this topic. why retail investing is bigger in the u.s. than europe and in the uk again, what will get us there? it is one thing to call for more retail participation, but how do you actually put that into practice and broaden the retail market here? >> yes, i think some of the

reforms led by the lord hill review a few years ago have been pushing on the retail point. we know that some of the association members that we represent have got platforms that allow retail participation into capital markets that's already there we want the government to push forward reforms. it is great that we have seen some of the reforms and the changes that the politicians have been pushing, particularly the city minister which has been talking about the changes. we want to make sure some of these are put in place swiftly now. we don't want another four years of legislative process to put this things in place we want to move the 8 million euro cap in terms of retail participation. we want that removed as soon as we can so we can actually be part of the arm offer to bring retail participation of such a great company to the uk and retail investors

>> it has to be a big blow to the uk government to have arm going with the sole new york listing. this is the british chip making champion it is a pretty big blow for the uk >> it is a sign of the thing or changes we need to make and put in place i think these reforms are really important. some of the changes will encourage more companies in the future such as arm to come back to the uk. we need to move swiftly and put the changes in place. >> to what extent do you think companies are deterred because of the listing roles over the actual operating environment and structure of taxes and corporate tax levels versus other countries. i'm trying to understand what exactly needs to change and where the biggest deterrents

>> there are a few different reasons. part of the reason that we exist is about really pushing forward deep in equity markets that may come in pension reform and making sure that pension companies and asset managers can invest more readily in the uk assets maybe there is tax incentives that come in place a market in the uk has tax incentives and why not have those for wider share ownership? there are a number of different things that could increase the liquidity within the retail markets. i think some of those other reforms coming in like the perspective review and the changes proposed really will make a difference. >> and bringing it back to the news of the week and post-brexit world, the windsor agreement, there has been a lot of debate of the impact this will have on the uk economy and what extent it will lure investment back

into the country with the optimistic view it won't necessarily have a big and direct impact, but longer term may pave the way for friendlier connections longer term? how do you think about the impact is it going to be substantial? >> i think there is a confidence a better confidence within the uk as we have seen with inflation concerns and interest rates, that's beginning to become a bit more of a confidence building situation for the uk i think that together with the reforms we are pushing for, whether retail participation or creating deeper liquid equity markets and bringing some of the companies back on the markets is really the change that will make the uk really move forward that's about generating jobs that's about creating new tech companies of the future and, you

know, providing investment returns to investors. >> clear to see listening to you how many pieces are involved sunal, thank you so much interesting to hear your thoughts chair of the uk equity markets association. coming up on the program, tesla's anticipated investor day fails to include updates on models or financial targets. we'll have more tethbrk.afr e ea ah, these bills are crazy. she

has no idea she's sitting on a goldmine. well she doesn't know that if she owns a life insurance policy of $100,000 or more she can sell all or part of it to coventry for cash. even a term policy. even a term policy? even a term policy! find out if you're sitting on a goldmine. call coventry direct today at the number on your screen, or visit coventrydirect.com.

[ engines revving ] fire 'em up! [ cheering ] you ready? let's do it. ready. i know you're ready. let's race. boom. introducing the 10g network only from xfinity. it's official, america. xfinity mobile is the fastest mobile service. the future starts now. and gives you unmatched savings with the best price for two lines of unlimited. only $30 a line per month. the fastest mobile service and major savings? can't argue with the facts. no wonder xfinity mobile is one of the fastest growing mobile services, now with over 5 million customers and counting. save hundreds a year over t-mobile, at&t and verizon. talk to our switch squad at your local xfinity store today.

welcome back to the program. salesforce shares rising after the better than expected fourth quarter profit up 14% year over year. salesforce expanded the share buyback program to $20 billion ceo marc benioff says they are focused on profitability and doing right by shareholders. >> that is not all we delivered amazing cash flow $7 billion in cash flow. we are doing a buyback

accelerated from $10 the billion to $20 billion we already bought $4 billion we will continue to do what is right for our shareholders . cnbc says elliott has looked to salesforce. tesla shares are lower after the ec maker's and ticipated investor day failed to bring on news for models and targets. musk talked about the master plan 3 calling for $10 trillion into battery storage and greater adoption of renewable sources tesla could cut production costs in half for the next generation of vehicles paving the way for a

more affordable model. musk told investors a cut price -- a lower price car would have a big impact on the economy. >> demand for our vehicles with desire to own them may as well be infinite. affordability is what matters. as you make the car more affordable, you have demand go crazy. demand is very much a function of affordability not desire it is very important one of the things we weren't sure about is elasticity o demand for tesla as we lower the price, how much is demand increasing we found that even small changes in the price have a big affect on demand. very big >> as you saw, tesla shares have

taken a notable hit on the back of the disappointing investor day. turning attention to retail. earnings are set to continue in the sector stateside with macy's and kroger all reporting this week we did get into target coming out earlier this week. seeing slight growth in holiday quarter sales. target had been a big name over the course of the pandemic with regards to inventory issues. it is interesting to see how inventory levels have evolved at the retailers reporting today. target warned of continued slowdown the ceo's insight saying that the environment is challenging with groceries and beauty items as consumers are focused on necessities. what does it mean for nordstrom today or others without a kb

grocery business we are in a bit of a holding pattern. not much of note on the board. nasdaq is poised to open 100 points lower i think as we head into the u.s. session, one thing to bear in mind, a lot of attention on the eurozone cpi print which is due out in five minutes and we saw the u.s. treasury yield move for the first time since november. investors pricing in a more aggressive path of rate hikes now. the federal reserve is front and center what we hear from the retailers will color the picture more about how u.s. consumption is poised to hold up and what it means for rates moving forward that is it for "street signs." thank you for joining me this morning. i'm julianna tatelbaum "worldwide exchange" is coming up next.

everything's changing so quickly. before the xfinity 10g network, we didn't have internet that let us play all at once. every device? in every room?

why are you up here? when i was your age, we couldn't stream a movie when the power went out. you're only a year older than me. you have no idea how good you've got it. huh? what a time to be alive. introducing the next generation 10g network. only from xfinity. the future starts now.

it is 5:00 a.m. at cnbc global headquarters. here is your top "five@5." stocks looking to extend losses as treasury yields continue to hit multi-year and multi-decade highs. futures were in the red and now drifted slightly positive. long on vision short on details the main take from the tesla big investor day that stock under pressure ahead of the opening bell. moving in the opposite direio