it is 5:00 a.m. at cnbc global headquarters. here is the top "five@5. higher for longer or sooner or later. tough questions when it comes to jay powell's next move my next guest says bet on the latter. and reports that apple is joining the ranges of big tech cutting head counts to reduce costs. and here in the new york city area, former president trump set to be arraigned in the manhattan courtroom today. we are live outside the

courthouse that story coming up. credit suisse executives facing the music as the final shareholder meeting is happening now. live in zurich coming up. and later on, the crypto coin getting a boost thanks to musk it is april 4th, 2023. you are watching "worldwide exchange" here on cnbc good morning the welcome to "worldwide exchange." i h i'm frank holland. we are looking at another mixed picture. these indices ticking up slightly in the green a few minutes ago. moving between the red and green. the bond market is ticking down

as fears of the slowdown continue also, oil prices putting pressure on the yields as people believe it will lead to the slowdown the 10-year treasury at 3.45 the yield on the 2-year treasury is barely above 4% something to watch oil continues to bubble up after the best day in nearly a year wti is still above $80 up .50%. brent crude is above $85 natural gas is a rebound a steep decline year to date and it is up this morning 1%. we are looking around the world. mostly green in asia after the reserve bank of australia is keeping interest rates unchanged after ten straight hikes nikkei is up .30%. shanghai up .50%

hang seng in the red european trade is getting under way. look at the early action green across the board ftse 100 is in the positive. dax is the best performer so far up .50%. let's get the top corporate stories and more trouble for jpmorgan chase and executives. silvana henao is here with those. silvana. >> frank, good morning the u.s. virgin islands an mendn the lawsuit alleging jeffrey epstein's behavior was known at jpmorgan chase referring to an email sent to an executive. lawyers for the bank have described the claims as meritless. cnbc confirming apple ceo tim cook and disney ceo bob iger are among the tech executives

set to meet with a dozen lawmakers to discuss china-related topics the trip will be attended by both parties on the house committee following the meeting with the commerce minister last week and apple is cutting an unspecified number of jobs within the corporate retail teams. this is the first round of cuts for the tech giant according to bloomberg, apple told employees that they would have the ability to reapply for a number of roles similar to their prior jobs >> silvana, thank you. we will talk more about apple later on we will see you later on thank you. now to a developing story this morning former president trump back in new york city ahead of the historic appearance in the manhattan courtroom today. we have nbc's brie jackson with more on the story from washington, d.c. >> reporter: good morning, frank.

historic day ahead hours from now, former president trump is expected to surrender to authorities and placed under arrest and processed former president trumppreparin to turn himself in to the manhattan d.a.'s office today. >> i think it should be smooth we are trying to coordinate and cooperate with everybody to make sure there are no problems >> reporter: new york police are ready for possible protests. president biden told reporters he is confident. >> i have faith. >> reporter: during the afternoon's arraignment, trump and the country, will learn the charges he faces his former finnfinger, michael e cohen >> he is petrified >> reporter: trump allies claim

he is targeted. >> we are talking about a prosecutor who promised to indict trump >> reporter: cameras arriving in new york monday catching trump >> he is no different from the brother standing on the corner that he is about to pass >> reporter: sources tell nbc news that trump faces more than 30 charges to document fraud lawyers say he will plead not guilty former president trump's arraignment hearing is set for 2:15 this afternoon. frank. >> brie, you detailed the law enforcement expected to do with the president saying right now any other reaction from d.c. over the high profile indi indictment >> reporter: some lawmakers are waiting to see the process play out. republicans have been vocal saying that this is a targeted

election interference. he is now running for the 2024 presidential race. a lot of mixed reaction on capitol hill >> brie jackson live in washington, d.c. thank you. turning now to europe and credit suisse executives meeting with stockholders in zurich right now. this is the bank's final annual shareholder meeting in the 167-year-old history those attending are not expected to be happy. joumanna bercetche is live outside the meeting room in zurich joumanna, what is the mood on the ground >> reporter: emotions are running high into the agm. as you said, it is the first opportunity for many of the credit suisse shareholders to listen to what credit suisse management has to say about the takeover deal put in place a couple weeks ago it started half an hour ago. we got the chance to hear from the chairman, mr. lehman, and

existing ceo, korner, over what they had to say about the takeover and how we got here it was a mea culpa a sad day indeed and they worked hard for the transformation to go ahead, but in the end, there was no other option. they had two potential avenues to go. one was bankruptcy and the other was this deal. let's take a listen to the chairman >> we stand here today in the situation no one could have anticipated. it's a sad day for you and for us, too. i can understand the bitterness and anger and the shock of all those who are disappointed, overwhelmed and affected by the development. >> reporter: that was the

chairman speaking a short while ago encapsulating the mood of the shareholders here in addition to the anger also that some of the shareholders are feeling. many are nursing a significant amount of losses in the portfolios ranging from institutional investors like the saudi national bank nurses losses of over $1 billion to retail investors as well. this is their first opportunity to get to listen to what management has to say. tomorrow, frank, we get the agm for ubs. that will be interesting to hear what ubs management has to say about the combined bank in the future >> joumanna, a lot of upset people were there any comments or words about swiss federal prosecutors looking into the deal at all >> reporter: i think that is a valid question, frank. an opinion poll published show 2/3 of the swiss public

oppose to the creation of what they are calling a monster bank. before the agm started, we had so many people show up expected to be more than 2,000 people attending including protester ws who are o shareholders climate activists showed up with a ship with the words crisis suisse at the top. that is the symbol that credit suisse was a sinking ship and now departed ship. there was a lot of anxiety and frustration and also anger being directed at management ahead of the agm. while the ship has departed and people have gone inside, the story will continue to ramble on and we will continue to be the main story getting attention here in switzerland and the financial world as well. >> joumanna, we are looking at the pictures you say the ship is gone a capsized ship says crisis

suiss. joumanna bercetche, thank you. when we come back on "worldwide exchange," what virgin orbit isset to do as funding talks falter. and my next guest cesays the is more room to run. and a closer look at the rally in energy stocks a very busy hour still ahead when "worldwide exchange" returns. o) can predict breakdowns and order their own replacement parts. (foreman) nice work. (vo) and retailers can get ahead of the fashion trend of the day with a new line tomorrow. with a verizon private 5g network, you can get more agility and security. giving you more control of your business. we call this enterprise intelligence. from the network america relies on.

meetings in the recent banking turmoil, could the rba set a path for the world? joining me with the latest is robert schein. >> thank you, frank. >> obviously a very different path than our fed. do you see this starting a new trend? how big of an impact do you think the recent banking crisis and spike in oil prices could have for the fed in the united states when they make the next decision in may? >> so, frank, last time we were together, we were discussing the federal reserve would raise interest rates until something breaks

something broke in the banking sector as we saw play out. on the global basis, you see the contagion from a banking sector and global market and policymakers act quickly and a pause on interest rate increases which could be the next trend moving forward for central banks around the world this is the first of many. right now, we believe the fed is on the upper end of a range. whether they raise in may or not -- we have a jobs number coming friday and the fed is data dependent all eyes on the fed. you want to be optimistic that the federal reserve could be at the higher end of the range. >> if australia is starldting a new trend, what does it mean for the markets? >> as you saw for the quarter, the technology sector got a bid. we saw the leadership coming back that could be positive for the technology sector moving

forward. we don't believe the fed will come out right and be dovish, but they will be cautious as they are constantly watching the markets play out on the real-time basis and the banking sector specifically. >> you have a few stock picks? charles schwab and amazon. >> berkshire hathaway. warren buffett has deals you want to wbe with him. we own that for our clients. we will add to it. charles schwab, third worst in the s&p. down 37% i think they are unfairly category ized as a regional ban. i suspect that is the case across the street everywhere else you know, finally, you have to

look at amazon amazon is one of those that is cost cutting and doing everything right they have the leverage and scale moving forward they have been in a bear market. we believe amazon will move forward positively because they have the cost cutting well under control. >> amazon anshares up. robert, thank you. coming up on ""worldwide exchange," lamborghini taking the wraps off the first plug-in hybrid why fuel efficiency is not on top of the list. much more on the story coming up next d start ching a year's worth of transactions against thousands of compliance controls with the help of ai. now you're making smarter decisions faster. operating costs are lower. and everyone from your auditors to your bankers feels like a million bucks. let's create smarter ways of putting your data to work. ibm. let's create

ready to shine from the inside out? say “yes” to nature's bounty advanced gummies and jelly beans. the number one brand for hair, skin and nails. with two times more biotin to bring out more of your inner beauty. get more with nature's bounty. asking the right question can greatly impact your future. - are, are you qualified to do this? - what? - especially when it comes to your finances. - are you a certified financial planner™? - i'm a cfp® professional. - cfp® professionals are committed to acting in your best interest.

that's why it's gotta be a cfp®. i think i'm ready for this. heck ya! with e*trade you're ready for anything. marriage. kids. college. kids moving back in after college. ♪ finally we can eat. ♪ you know you make me wanna...♪ and then we looked around and said, wait a minute, this isn't even our stroller! (laughing) you live with your parents, but you own a house in the metaverse? mhm. cool...i don't get it. here's to getting financially ready for anything! and here's to being single and ready to mingle. who's ready to cha-cha?! ♪ yeah, yeah ♪

welcome back i'm frances rivera with the news headlines. officials are pushing for the release of the wall street journal reporter held on spying charges in russia. his lawyers appealed his arrest yesterday. the secretary of state spoke to the russian foreign minister calling on the kremlin to let him go immediately the journal denies the spying charges against him. at least 35 million remain under severe weather threat as more weather is poised to strike across the midwest and south officials say 32 people were killed after more than 50 tornadoes tore through 14

states so far this year, there have been 385 tornado reports the average at this point of year is 224. now to the hardwood. uconn and san diego state battled for the men's championship t huskies ran out to an early lead against the aztec. san diego state pulled within seven, but too little too late the huskies with a win of 76-59. the fifth national title for uconn and first since 2014 big man adam sonobo was the most outstanding player frank. those are the headlines. back to you. >> frances, thank you. great to see you. when it comes to global carmakers, efficiency and affordability are high on the

priorities for one, it leaves no room for cost cutting joining me now is robert frank this gets me charged up. >> you talk about charged up this lamborghini unveiling is the first plug-in. it has three electric motors and paired with the giant naturally as per rated v 12 engine the price has not been announced yet, but it will be well over $800,000 for the car lamborghini will have some form of electrification this is a balancing act for the car companies. wealthy buyers love the big, loud powerful engines. the world is going electric.

there are many rolling out the cars that keep their engines and add a little bit of electric boost. lamborghini won't launch its first fully electric car until 2028 it promises to be fully electric by 2030. ferrari launched the hybrid in 2019 they expect to launch their first all-electric ev in 2025. the super carmaker says orders are strong in the economy. lamborghini and ferrari and rolls-royce have a long waiting list we will sit down with the ceo of lamborghini this morning and showing you that car frank. >> robert, i smell an investigation. we get in the lamborghini and see if it goes 0 to 60 in 2.5 seconds. that's the next step on the serious note, what about the electrification of the lamborghini suv? >> it was the best seller. the suv has been a blockbuster

success. carving out the new year of high per performing suvs. the ceo said given battery technology, it is too hard to make a true super sports car all ev that suv will be their first ev. yet to be seen if these super sports cars can truly succeed as full evs you know, you look at the tesla plaid. it is hard to beat that 0 to 60. >> are you getting to take a test drive >> not yet the car we will see today at the lamborghini lounge will be static it will not be driven. i will be sure to let you know you will be the first to know if we get one for a test drive, frank. >> i feel we have to do it together

the first frank and frank exclusive. thank you. straight ahead on ""worldwide exan,"hechge t crypto coin getting a boost thanks to elon musk and the missing blue with bird "worldwide exchange" will be right back i count on personalized financial advice from my ameriprise advisor. she knows my goals and can help me reach them with confidence. the markets may fluctuate but you're still on track. more than 9 out of 10 clients are likely to recommend us. ameriprise financial. what do you get from the morgan stanley client experience? listening more than talking, and a personalized plan ♪

to guide you through a changing world. ♪

it is 5:30 a.m. in the new york city area we are just getting started on "worldwide exchange. stocks kicking off a new quarter. the s&p and dow trying to extend

gains. energy stocks with a boost on the back of the surprise output cut by opec we dig through the stocks that stand the best. apple coming off the best quarter in two years why the next guest says apple along with the big tech has a lot more room to run. it is tuesday, april 4th you are watching "worldwide exc exchange" here on cnbc welcome back i am frank holland we kick off the stock futures. following a mixed start to the second quarter yesterday futures are rising dow jones industrial average would open 25 points higher. the nasdaq seeing the biggest gain slightly in the red when with we started the show s&p frslightly higher.

th wti is $80 a barrel. natural gas is off the highs from early this morning. up just about .30% for a check on the early trade in europe is julianna tatelbaum who is standing by in the london newsroom with more. julianna >> frank, good morning here in europe, equities off to a strong start we have green across the board every region is trading higher we have corporates in focus. the chairman of credit suisse apologizing to shareholders as the first agm taking place in zurich right now the gathering is a flash point for anger over the emergency rescue by ubs last month the ceo claiming the lender was left with no choice. six months ago, it created a more focused and stable bank

now it is collapsed. at-1 bondholders wiped out speaking earlier this morning, the chairman expressed remorse over the takeover and how it came about >> we stabnd here in the situation no one could have anticipated. it is a sad day for you and for us, too. i can understand the bitterness and anger and shock of all those who are disappointed, overwhelmed and affected by the developments >> credit suisse agm is taking place. we have ubs tomorrow keep an eye on that story. elsewhere in terms of m&a l'oreal agreed to buy the brand aesop fror $2.5 billion.

the largest acquisition in a decade finally, in terms of monetary policy, reserve bank of australia decided to keep policy rate at 3.6% taking a pause to assess the impact of the previous ten straight rate hikes. rba warned further tightening may be needed as the labor market is tight. it says it believes inflation has peaked the australian stock market ended .20% higher. frank. >> julianna, thank you julianna tatelbaum live in london. now to the cnbc survey of chief financial officers and results for q1 57% of cfos forecasting a recession. expecting it to come in the first half of 2024

1 of 6 have the faith in the fed. they expect a soft landing despite the concerns, financial decisionmakers are voicing approval for the rate hiking campaign to control inflation. 47% say the fed is doing a good job. we get the next read on april 12th recession is not the only concern. the top answers are related to the possibility. we asked the top risk to the business 30% said inflation 25% said consumer demand 13% saying the fed one issue not concerning the majority of the financial decision makers is the financial sector our survey one week after the collapse of silicon valley bank, 73% of cfos had no concern of company deposits 63% had not moved company funds.

when asked about a.i., cfos see risk 63% are evaluating with caution. time for the check on the tornad corporate stories. silvana henao is here with those stories. we had the guy who was supposed to invest in the company here on the show >> frank, listen to this virgin orbit filing for chapter 11 protection in the united states the launch company making the move after failing to secure a funding lifeline revealing in the filing it is looking to sell assets it is coming after dan hart told employees last week that the company was seizing operation for the foreseeable future according to audio obtained by cnbc turning to crypto and

dogecoin surging 30% yesterday after an elon musk changed the logo of twitter to the dogecoin mascot it is unclear if the move is permanent. musk addressing the change tweeting a year old conversation about making the move writing as promised warner bros. is near a deal to turn harry potter into a tv series talks are in early stages. the plan would involve turning each potter book into a season worth of tv for hbo max. i know a lot of people would be excited. >> never read the book or saw the movies. >> me either >> i went on a ride at the park and got sick i'll get tweets. silvana, thank you turning attention to the energy market.

opec plus with surprise production cut wti and brent crude gaining 6% yesterday. the best performance in a year this morning, goldman sachs says prices could rally to $100 a barrel by next april on the pop, the energy sector coming off a 5% gain the best day in six months chevron is up 4% and exxonmobil up 6%. conoco phillips up 6%. marathon oil gained 10%. let's talk to jason gabelman here about this issue. >> thank you. >> are the fundamentals in place for oil to rise to $100 a barrel next year? >> it will have support the rest of the year before the opec cuts announced over the weekend it was an expectation that oil

would rise in the second half of the year the costs support that further it has been our view that opec would underpin the market regardless of demand we are seeing that happen in real-time. >> we are seeing it in real-time. i want to ask if this spurs the potential of oil production in the united states? what does that mean for the u.s. based stock? >> it could spur on the margin the al le-- marginal level. we think they are having the price reaction we are seeing is the expected response from shale oil is most muted. opec would have been less comfortable doing a cut like this because they were be nervous to lose to shale oil that reaction is tepid in

production growth as a result of higher oil prices in the u.s. >> i want to talk about the picks and energy space lng. that was a very interesting choice cheniere is a big rebound. >> it took our lng mostly exposed to global gas prices which rallied as a result of the russian war last year and it stabilized here over the winter due to warmer weather we expect the global gas prices to remain stable over the next couple quarters. as we enter next winter and europe starts to draw on the gas inventory, we expect global gas prices to move higher. especially given demand increase without a similar increase in global supply. >> we have a couple of things coming up in the united states we have the so-called summer

driving season which is a big factor do you see that as something that pushes up gas prices? we have the recovery of china. we are focusing on oil how does that impact the gas prices in the u.s. >> gas prices are expected to increase seasonally. oil prices, obviously, are a big input to the final price consumers pay at the bpump oil prices arie moving higher. gas prices would move higher as well that is exacerbated by the peak driving season for the u.s. which will result in upside pressure on gas prices you have a combination of crude prices and seasonal demand which will result in higher prices at the pump over the next couple months. >> something to watch. gas prices rising 7 cents in the

last week. jason, thank you >> thank you sticking with stocks apple notching gains this year closing out the first quarter. the stock helping to boost the nasdaq which is helping the other indices as the fear of rising interest rates and financial crisis and potential recession could dampen other parts of the market. let's talk about the market with tom forte. >> thanks for having me. >> we see apple up big out performing apple doesn't need a lot of cash infusion is this confidence in apple business >> i see it as three reasons reopening of china at the end of the covid zero policy. this helps apple with the supply

chain and demand 10% of sales going to consumers in china second, apple is positively effected by the slowdown of rates by the fed you think of the rapid rise of the fed fund rate and discount rates, it had a negative impact on tech and val uation of apple. you saw flight to quality at the end of the march quarter following silicon valley bank collapse and apple benefitted from the flight to quality highest quality names in tech and equities. >> also widely held by just about everybody. i want to ask about oil. how big of the impact is the reopening of china >> it is a huge benefit for apple the. it doesn't change the long-term basis that apple is dependent on

china. on the near-term basis, improvement of the supply chain and demand for the chinese consumer is significant for apple and good news for the stock. that contributed to the march quarter for apple. >> i want to ask apple up 27% and nasdaq 100 tracked also up over 20% new note out last night from funds track. i want to read part of it. in the note, apple and microsoft show little or no evidence of peaking out. it is important for the index to show tiring before expecting technology to peak based on over-bought conditions what do you think about that >> i think to the extent the fed stopped raising rates or one more rate hike in it, that is great news for tech and great news for apple i'm not worried about the stock

hitting near term highs to the extent i think if the fed stopped raising rates and when you look at the fundamentals for apple, there is more good news. >> certainly something to watch. tom forte, thank you >> thank you. coming up on "worldwide exchange," former president trump set to be arraigned in the maatn urounhtacothse today we are live with the latest today. much more on this story when "worldwide exchange" returns stay with us good night! hey corporate types. would you stop calling each other rock stars? you're a rock star. you are a rock star. no more calling co-workers rock stars. look, it's great that you use workday to transform your business. but it still doesn't make you a rock star. so unless you work with an actual rock star. hi, i'm ozwald. hello ozwald. pam, you are a rock- i wasn't going to say it.

♪♪ 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 (cecily) it's probably gonna take us a while to move this sign. (vo) better hurry! get welcome unlimited for just $25 a line. let's partner for all of it. (seth) it's guaranteed for 3 years. (cecily) you get a great network and save money doing it.

(vo) this offer won't last long. only on verizon. welcome back turning to the developing story. former president trump is set to appear in the manhattan courtroom today to be arraigned. we have jay gray outside the manhattan courtroom. jay, what canwe expect >> reporter: frank, the process will begin with the former president read his rights and processed just like anyone else charged with a felony here in new york obviously, he is not like any other defendant. one of the reasons, all 35,000 new york city police officers are on high alert right now. lower manhattan on lockdown this

morning. streets blocked and army of police and agents on the ground. warning from the mayor about anyone planning to protest. >> our message is clear and simple control yourselves new york city is our home. not a playground for your misplaced anger. >> reporter: after arriving late yesterday, former president trump expected to make the short drive from trump tower to the co co courthouse later today where he will be placed under arrest. during processing, he will not be handcuffed. it is unclear if a mug shot will be taken we know he will be fingerprinted. he will be escorted to the courtroom. the first time someone from the oval office will stand for criminal charges his legal team says he will plead not guilty to roughly 30 counts >> he is gearing up for a battle the. this is something that we

believe is a political perse persecution. >> reporter: the appearance is expected to last a few minutes former president trump plans to leave new york and returning to florida immediately after the proceedings. the former president says he will discuss the days of mar-a-lago later this evening. s as for the district attorney alvin bragg, he plans to discuss the court case during the briefing after the arraignment it should be a very busy day down here in lower manhattan >> jay gray live in new york city thank you. coming up here on "worldwide exchange," we tee up the trading day ahead and warning from the team at jpmorgan chase on the road ahead for stocks. "worldwide exchange" will be right back

(cecily) it's probably gonna take us a while to move this sign. (vo) better hurry! get welcome unlimited for just $25 a line. (seth) it's guaranteed for 3 years. (cecily) you get a great network and save money doing it. (vo) this offer won't last long. only on verizon. at morgan stanley, old school hard work meets bold, new thinking,

♪ to help you see untapped possibilities and relentlessly work with you to make them real. ♪ welcome back time for the "wex wrap-up.

six stories as we close in on the 6:00 hour. bob iger fighting back against ron desantis speaking at the shareholder meeting yesterday, iger slammed the action of stripping the giant of power within the state. >> our plan is any action that thwarts efforts for the position the company took doesn't sound anti-business, but anti-florida. >> and cnbc confirming lawmakers will travel this week to meet with bob iger and tim cook to discuss china related topics it includes representatives from both parties. and apple is cutting a number of jobs in the corporate retail teams according to bloomberg. if confirmed, it would add apple to the long list of tech giants

to cut employees. and a shareholder lawsuit over the announced stock conversion for amc shares of china's most valuable a.i. company soaring in asian trading on the report this is getting ready to launch a chatgpt rival. and tesla owes over $3 million to a former black contract worker over racial abuse on the job the amount is less than the $137 million an awarded two years ago. and a warning about the stock road ahead any decline in yields is not a sign the fed is bringing a punch bowl to the tech stocks, but

sign recession is increased. the market testing the low in the coming months. investors should look throug the noise and take advantage of range bound markets to assemble the tilted portfolio let's bring in sam stovall sam, great to see you in person. >> thank you, frank. >> i want to start off with the comments do you believe this is time to be defensidefensive? >> i think we are approaching what is called the sell in may period i am told investors don't retreat, but rotate and you are better off defensive area rotating to healthcare in the may through october period pacer has a seasonal atf which i developed that embraces that

strategy i do agree over the last statement that you look through the noise. you look beyond the valley a year from now, our expectation is share prices are meaningfully higher. >> what noise? what is the noise you think investors need to look through >> a lot of noise out there. i think the fed will be raising rates two more times at the may meeting and june meeting i think the opec decision will help maintain the stickiness to the flaginflation reading and t fed wants to ensure they truly have strangled inflation higher for longer. i'm reminded that the fed does tend to cut interest rates about nine months after the last rate hike and the s&p has seen all sizes and styles and sectors in positive territory in the nine-month territory with the

s&p up average 13%. >> bullish on equities, but i want your results of the survey of cfos. what they think about a number of topics. 57% of cfos polled expect recession in the second half of the year 27% expecting it to come in the first half of next year. 17% expect the fed to pull off the soft landing what is your take? >> a mild recession is built into the cards we entered into the earnings recession with earnings in the fourth quarter of last year down 4% expect it to be off 6.5% in the first quarter of 2023 and 6% in the second quarter i also like to say you can rarely injure yourself by falling out of a basement window with expectations low, there is room for upside surprise i think a lot of the negativity

is built into shares i'm impressed with how resilient the market has been. >> i never heard that basement window metaphor. that is interesting. sam, the russell up 2% this year compared to the s&p 7% rise. is it certainly sectors within the small caps >> what is interesting the small caps have taken it on the chin with worries of the banking crisis and reluctance to lend to smaller companies that need the assistance when you look at the valuations and the s&p small cap 600 and mid-cap 400 are trading 35% relative to pe discount to the s&p 500 on forward 12-month earnings a report i wrote on monday talked about those groups that tend to do fairly well in the

second quarter areas like auto parts and equipment and consumer finance and environmental services and oil and gas exploration and production are areas that could do well. >> when you look at the small caps, is this buy the dip and hold on as it it under performs the rest of the market >> i think so. certainly we can't know when to time the movement. i believe the technicals tell you when and how far whereas fundamentals tell you what in looking at small caps against the large caps, it is saying stay away with very nice long-term opportunities laying ahead. >> sam stovall, thank you very much >> my pleasure. one quick look at futures. nasdaq up .50%

much higher than we started this morning. we saw moves to the upside and down side. all futures in the green right now. that will do it for us on "worldwide exchange. "squawk box" is coming up next thanks for watching. so no matter what... i'm running this kitchen. (vo) make the switch. it's your business. it's your verizon. 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 75% a year.

and it's only available to comcast business internet customers. so boost your bottom line by switching today. comcast business. powering possibilities™.

good morning fireworks in florida bob iger blasting governor ron desantis calling his actions anti-business and anti-florida. google is cutting back on perks to save money. that includes fitness classes, laptop replacement and even -- former president trump

expected to be arraigned in a manhattan court today. it is tuesday, april 4th, 2023 "squawk box" begins right now. good morning welcome to "squawk box" here on cnbc we are live from the nasdaq market site in times square. i'm becky quick along with joe kernen and andrew ross sorkin. yesterday, the futures were up for the dow and s&p. they have seen advances four days in a row. nasdaq was down 32 points. there are green arrows across the board. dow up 35. s&p up 12. nasdaq up 76 treasury yields pulled back a little bit 10-year treasury below 3.5%. the 2-year treasury is below 4%.