5:00 a.m. here at global headquarters and here's your top "five@5. we begin with stocks fighting the grindout and gains seeking some sort of momentum as investors gear up for the critical cpi report. the latest numbers on inflation continuing cool with data coming weeks before the fed's rate decision. and one fed head calling for patience by colleagues when it comes to raising rates >> and this morning we have breaking news in fr. the biden administration when it comes to new rules regarding the auto

division our phil lebeau has the details on what steps the white house is taking. and florida firing its latest shot in the battle with disney as lawmakers look to gain control over the magic kingdom it's wednesday, april 12th, 2023, and you're watching "worldwide exchange" right here on cnbc. ♪ good morning and welcome to "worldwide exchange. i'm frank holland. let's kick off this hour with u.s. stock futures a bit of a muted morning as we wait for the futures report. all indices in the green yesterday another flat sector as investors seemed to be in a holding pattern. expect to see a drop from february you see the drop here. 5.1% year over year and overall prices as i said rising 5.1% from a year ago. we're going to dive into the expectations of that number coming up a lbit later on in th

show the 10-year above 3.4% and taking a look at oil, it's been going back and forth between 80 bucks a barrel. fluctuating is the word i was looking for. up fractionally this morning brent crude, international benchmark, a tick above 85 crypto crossing the 30,000 mark and ether. right now we see both of them in the red. just a tick below that 30,000 mark that arjun cabal told us about yesterday. above 1860, down 2%. turning our attention now to around the world looking over in a'ja, looking mostly higher with modest gains,

japan leading the region up over half a percent and europe's trading day just getting unting underway. we're seeing the cac up by 1%. the ftse, up 0.6% right now. now over to breaking news with the biden administration announcing new and tougher rules around auto emissions. our phil lebeau joins us on the cnbc newsline with much more on this story good morning, phil. >> good morning, frank these are very aggressive propos proposals, objectives, where biden wants to take the country when it comes to tailpipe emissions. we're not going to get into the science of this because it's a little too wonky for everyone. let's just say this. they're proposing to move tailpipe emissions on a grams-per-mile basis down 62% from the current standards proposed through 2027. automakers -- and this is key

here -- they would decide the technology in their fleet to get there. in other words, if you're a company like tesla, there are no emissions right now, no tailpipe emissions, they don't have to do anything but if you're a company like general motors, you're going to have to figure out the mix of internal come bumgs engine vehicles you can build versus electric they believe evs once these automakers make the changes could make up 67% of the annual auto sales in the country. let me tell you that's way more aggressive than most companies believe is possible, consulting firms. it's projecting the industry come 2032 will only be at 49%, that to get to 67% would require even greater change, change that, frankly, a lot of people are wondering if it's possible within the industry, within this country. take a look at shares of tesla

over the last couple of years. tessly currently makes up roughly two-thirds of the vehicles sold in this country, 62%. that's their market share right now. no doubt tesla sales are going to be increasing in the future will it have 62% market share come 2032, not likely, but it is going to certainly be one of those companies that is not impacted by these changes in the emission standards that's not the case for gm, ford, or others. a combined more than $80 billion they're spending to build and develop electric vehicles. the projection is these companies will not be at 67% of their sales being ev by 2032 it's going to require a lot of change remember, these rules are not finalized, frank they're extremely aggressive and they feel this is the only way the country can get to bringing in greenhouse gas emissions if by going with much stricter

projections or requirements, i should say, for a tailpipe division between 2027 and 2032. >> all right we're here with phil lebeau, the biden administration announcing new tougher auto emission rules. they have no tailpipe emissions. you mention the big three. which do you see being the most impacted by these rules? >> it depends how you look at it, frank. if you look at who's the fushtest away from developing their ev portfolio, likely stellantis further behind is toyota all auto makes are going to have to make this transition, and they're all making transition in some form, but general motors is much farther along than stellantis same with ford yet both of those companies, when you talk to them about tailpipe emissions and the

conversion to evs, they're committed, but at the same time, they realize this is a steep hill, and whether or not the industry can get to these levels by 2032, frank, there's going to be a lot of pain in the industry because you've got a lot of jobs that are going to have to change. >> our phil lebeau with the latest on this breaking news thank you very much. i'm sure it's a story ywe'll be following all morning long our pippa stevens has our business news. >> speaking yesterday, goolsbee noted a pullback in bank lending would ease inflation and require the fed to take less monetary policy looking ahead to the fed's next policy meeting he added that top of his mind will be looking at whether fed is, in fact, tightening. the newly informed oversight board formed by governor ron

desantis is looking to establish control of development around the disney theme park in that state. according to reuters, a resolution would give the board the power to review and evaluate development of property around walt disney world. now, this marks the latest development after state lawmakers ended disney's virtual autonomy in develop 25g,000 acres where its theme parks are located. and elon musk saying that financial conditions at twitter are improving. in an interview musk said the social platform is, quote, roughly breaking even, adding that most of its advertisers have returned in the wake of his takeover twitter has about 1,500 employees, a sharp decline from the roughly 7,000 workers before his takeover now, frank, asked if he had any regets about buying twitter, he said the pain level has been, quote, extremely high. that's what multiple billions of money will do to you. >> i want to have those problems

one day. >> don't we both. >> our pippa stevens turning our attention now back over to the broader markets, the resilience of u.s. equities will be short lived that's the warning from wells fargo's chris harvey in a note yesterday he said the s&p 500 is set for a 10% correction in the next six months -- excuse me -- three to six months, which would take the index to right around 3700 or near november lows it will be driven by worsening economic conditions, a function of aggressive monetary policy, and a consumer that's becoming more and more reliant on credit to sustain spending. harvey said assuming the cycle ended in march, the relief may be reflected in stocks let's get another perspective on this let's bring in craik johnson of piper sandler. also great to have you welcome. >> thank you. >> we look at the november lows.

you're keeping your eye on the december lows and the fact we haven't returned though is what do to numbers tell us about the november lows as opposed to the december lows? >> we've been talking about a hop, a drorngp, and a pochlt we think the market can trade up to 4200, 4300 on the s&p 500. yeah, we would agree with the wells fargo strategist that there can be a drop, but that drop will most likely come when the fed starts to cut rates. when you look at the probabilities, that suggests that could happen mid this year or perhaps in the third quarter of this year. >> all right, so craig, break this one down for me we're still in the hop right now. i'm looking at month to date the s&p is flat, down 0.1% the nasdaq is down 1%. so if this is the hop, why aren't we seeiing stocks continuing to rise in the second

quarter. >> frank, when you go back and look at the chart going back the past 24 months in here, you'll see there are great downtrend reversals that have already occurred in the dow, s&p, and russell and transport index. you're starting to see you've got higher highs and higher lows that have been made. i would also come back and point out when you look at the lows that were made last september and october, that's when we saw the largest number of stocks get extremely oversold on a very simple momentum indicator and in the release and krecds we had seen earlier this year, we never got back to the oversold levels. frank, the other thing i was mentioning, if you look back to 1929, when you look at the fact that we haven't seen in the first quarter a low from the december lows of last year, that has historically been a pretty bullish sign for the market. if you look back in time the market is 3% of the time higher with about a 13.7% annual

return when you don't break back from the december lows in the first quarter of the new year. that's exactly what we've seen happen in the first year again, while we may get a pull back or correction, we ought to keep our eye on the long-term and we think we can get to 2645. if you look at some of tund lying indices, clearly it's trend lines over headlines at this point in time like you mentioned and like the other strategists have pointed out. all the negativity, stocks aren't going down. they're starting to trend higher, and we need to pay attention to that fact. >> i like a good turnover phrase, craig. i'm going to have to ask you about this how do we get from 2645 to here. you say we're in the hop we're still waiting for the drop it's about an 11% upside. >> how do we get there the i think once we declare we're actually in a recession, which

could happen in the second half of this year, certainly aligns with the house view at piper that this could happen sometime later this year. but when you conclude you're in a recession, history shows you backdate that recession startdate by seven, six months, and you find at that point in time throughout history only one time since 1929 did the markets in terms of equities not bottom while you were in that inflationary period. i think the odds are you'll get a pretty healthy rally once it's declared we're in a recession later this year. >> when does the drop happen snit happens in the third quarter? you have to have the pop to end the year at 2645, right? >> we'll definitely see that coming back, we'll see what the interest rate probabilities are at this point in time. when the fed starts to cut, it could be around july could be a meeting after that somewhere in there. we're setting ourselves up for a

quick drop i think that is going to be bought when you look at the futures contracts, frank, we're at levels right now we have seen only at the lows of the market in 2020, 2011, and 2007. the world is already negatively positioned and any trop will get bought from our perspective. >> that might be the world right now i want to talk about what you're talking about. you're currently overweight on energy, industrials, and tech. you some adds that made huge run-ups just really quickly, do you see the tech continuing rally and until when when does tech see that drop >> at this point, people are coming back the way the bond yields have come back. you look at the charts across

the board. yes, there's a lot of skepticism at this point in time, but stocks are a good leading indicator of the market. you're seeing more of it even stocks like regeneron and others are seeing it too. >> always great to have you on thank you. great stuff today. when we come back on "worldwide exchange," more of today's big cpi record mark zandi gives his outlook on inflation and sticky price pressures are here to say. swiss lawmakers laying into suisse, looking at options geoff cutmore lays out the latest on the saga and this morning's big money mover. you're lovin' it the restaurant stock covering at a high that name and its stock coming up when "worldwide exchange" continues. ♪ finally we can eat. ♪ you know you make me wanna...♪

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when we run our models and look at what might happen when they start tightening beyond what's already there, we find it would have an effect on global growth it would bring it down from 2.8% in 2023 to 2.5%. >> the chief economist on the risk to global growth if banks pull back on lending, but ahead of the trade group says the banking sector's recent turmoil that led to the collapse of svb and other banks was not a s

systemic crisis. again, that was according to tim adams who spoke to joe biden on the sidelines at the imf annual spring meeting. >> we have over 4,000 banks in the united states. we have about 10,000 banks globally and 35,000 institutions throughout the world 99.999% of them opened their doors and had no problem whatsoever i think it was not a cry sichlts i think it was market t turbulence we need to be vigilant and watch. >> that was joumanna bercetche. the british bank's u.s. arm hiring dozens of bankers including david say beau who led the collapsed lender technology and segment. they'll focus on serving companies in the tech and health care spaces as well as investors

who support them. one of the baivgs at the center getting a public flogging our geoff cutmore is there good morning the swiss lawmakers are not holding back at all over their an gefr over the rescue of credit suisse. what are the bones of contention here >> i think if you look at the market performance, you get a very clear impression as to how investors feel about what the politicians have had to say. let me just walk you through the story, swiss lawmakers using a very late night session to show their anger about the takeover of credit suisse, and they held a symbolic vote against the move and against the $100 billion guarantees that were offered to ubs to do the deal by the government but in reality they can't stop it from taking place because they used their powers and

they're binding under swiss law. it's down to ubs management to decide how many jobs will go and which business units will be sold or kept alongside this rally about the support for ubs, there's also this issue of the image of switzerland, and the swiss president said that's something they're concerned about. >> the situation is all the more important to preserve and strengthen the most cherished resources that we possess. trust the stability of our institutions, our common sense and our responsibilities you would have seen that the situation in the financial markets has calmed down, but it is not definitively stabilized in our country switzerland has emerged shaken from this painful episode. >> so the reality is here that even as a lot of these legislators wanted to vent their fury about this deal, they wanted to complain about the backstop, they wanted to

complain about the way the regularities operated here and how the federal government has behaved. in reality, they don't want the deal to stop there's concerns about the size of the new ubs it will be a mega bank and weather holding half of the country's depoits accounts face as risk. october will the first time that many swiss citizens will get to express their opinion with a vote on the current government and how it operated around this bailout. back to you, frank. >> i'm sure the discussion is not going to end today at all. geoff cutmore, thank you very much. coming up here on w.e.x., more warnings about artificial intelligence why streaming services are being told to watch out. "worldwide exchange" aka w.e.x. comi bngack right after this break. make sure you stay with us . so you can do more than connect your business, you can make it even smarter. now ports can know where every piece of cargo is.

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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. ♪ time now for a check on this morning's other headlines. nbc's phillip mena has the very latest. >> we begin with the body cam footage by the louisville police officers rush in on a mass shooter minutes after he opened fire at the old national bank. police confirm the 25-year-old shooter was a current bank employee armed with an ar-15 that was legally purchased he streamed the massacre online.

alvin bragg has filed a lawsuit against house judiciary jim jordan who's investigating bragg's investigation of trump the suit called the actions by jordan and other house republicans an unprecedentedly brazen and unconstitutional attack into an ongoing investigation. in a tweet jordan wrote the lawsuit attempts to block congressional oversight. a hearing in bragg's case against jordan is set for april 19th jordan's subpoena was issued days after former president trump was charged with 34 counts of felony business fraud in a case spearheaded by bragg's office. now to the 2024 presidential race the most prominent black lead over the republican party is throwing his hat in the ring " "the post" and "courier" is announcing tim scott is throwing his hat in the ring. he's set to make an official

announcement later today. finally, 48 minutes wasn't enough for the lakers and timberwolves in the nba play-in tournament mike conley sent the game into overtime after drawing the foul with 0.1 seconds left. both teams would struggle to score in overtime, but the lakers ee zrenltually pulled ahead and didn't look back l.a. wins it 108-102. earlier atlanta dominated the glass against the heat, outlafgt them by 24. the hawks swoop into south beach and pick up the win, 116-105 frank, the hawks now go play the boston celtics, and the lakers are now to face the memphis grizzlies in the next round. >> i'm a huge nba fan. my forecast, sixers, 4-4-4 that's my prediction. >> i like it. >> live in new york, phillip m mena, always great to see you. >> samg to you. ahead on w.e.x., a look at

the sizeable stcash sit tong sidelines. if you haven't, visit our pod kachlt check us out on apple, spotify, and oth pcaerodst apps. "worldwide exchange" will be right back

5:30 in the new york area, 10:30 in london. stongs looking to mount some momentum as investors gear up

for that highly anticipated cpi report and fed minutes futures are moving higher this morning. the latest read on inflation expected to show easing price pressures. we have moody's mark zandi on standby. we're going to talk about whether that trend will continue and what it could mean and a new warning over artificial intelligence as one music giant streaming services says to keep an eye on the high-tech advancements it's wednesday, april 12th you're watching "worldwide exchange" right here on cnbc welcome back to "worldwide exchange." i'm frank holland. u.s. stock futures, as we mentioned, futures are moving higher this morning right now. we're seeing the dow jones opening up 50 points higher. the s&p and nasdaq both flaxally higher as the investors are

awaiting a huge cpi report we're also watching the bond market look at the yield. 3.44, holding city all week long the 2-year note a tick above 4%. we're also watching oil. we saw fluctuations yesterday. going back and forth between under 80 bucks a barrel and over 80 bucks a barrel. this morning, up a quarter of a percent. brent crude, a tick above. we want to get a check on one of your morning's big money movers. we're talking golden arches, mcdonald's they hit a new 52-week-high in yesterday's session. a big upswing when it comes to the stock. up 8.5% in the last month and we want to talk about others. red robin up 38% and others up

jack in the box up over 9% over the last month. now for a quick check on the early trade in europe, our joe biden julianna tatelbaum is standing by. >> we're prut much in lockstep with u.s. futures. you've got green for the most part the smi is down about 12 basis points or so outside of that it's a decent start to today's trading session. yesterday the european market outperforming the u.s. market. it was the first trading day for europe since thursday, so the first time investors had to react to friday's solid nonfarm payrolls report statewide. here's the split we've got a fairly mixed picture. out in front, real estate catching a decent bid, up 1.2%

we have a positive update. on the downside, we're seeing trouble here technology underperforming investors are showing a little bit of preference for other sectors in selling those technology names frank, back over to you. >> julianna, always good to see you. big news for jpmorgan, wells fargo, and bank of america they were going to set aside $100 million each. accounting rules meant to ensure bank stockpile predictions to cover losses are predicting that outlet. streaming plat forms

including spotify and apple music are told to block ai from scraping melodies and lyrics from their songs according to emails, it's becoming increasingly concerned about ai bots using their songs to generate music that sounds a whole lot like popular artists and google is dropping its covid requirements saying that most people have a level of immunity by this point. they say that decision comes more than three years after the world health organization declared a global pandemic the world is now in a very different place with case rates and hospitalizations notably stabilizing. back to the market focus today with the march cpi rofrmt march is in a wait-and-see mode ahead of the report out at 89:30

eastern. estimated to show rises of 5.1% from a year ago as investors search for any and every clue on the rate hiking campaign joining me now, mark zandi, chief kmichlt mark, great to have you here. >> good morning, frank. >> we laid out the expectations, 1.57 year over year. what are your expectations and haw to you see it playing out including core cpi >> the consensus is very close to my estimate i expect it to rise 0.2 of a month and 5% year over year, which feels really good, right, frank? if you go back last summer, it peaked at 9% so here we are at five and we her headed south fairly quickly. i think we'll be closer to 3% by the end of the year. core inflation as you point out

excludeing food and energy will be sticky. that will rise 5.5%, 6%, year over year. that's going to take more to get back in because at the end of the day it goes into wages and housing and that's going to take more time to come in i think it's something we'll come back from. >> it seems like we're about to head into a defin active downward trend i want to talk about oil we haven't seen as much of a boost in oil as many would expect, but does oilplay a part in this narrative when it comes to inflation >> it sure does. the biggest threat to my optimism is oil prices to hank in at $80, $90 a barrel, which is sort of where we've been through lots of different

positions, opec, russian cuts, china coming online and consuming more oil, despite all of that, we're fine. my optimism is going to come to pass clearly a lot of riff income that market. things can go in a lot of different directions the oil gets back to $100 a barrel for any point in time, it's going to be very difficult to get inflation back in not only because of the direct effects on inflation, but because oil prices play such a key role in expectations and going back to wages and core inflation. it will make it much more difficult to get it back into a place where we feel good about. >> you're watching oil and cpi i want to ask you about earnings on friday. how much of an impact will it have on the fed's decision in may, and what do you think the decision will be >> ppi, i don't think that's a

big deal one way or the other, but the bank earnings, you know, more broadly what's happening in the banking system, that matters a lot. you know, i do think credit loans are falling slightly, business loans, they're falling. that will have a negative impact on growth. now, my sense is they act kind of sort of like a rate increase, so because of the tightening and credit conditions, the fed does not need to raise rates any more in my view hopefully they end the rate hikes pretty quickly, and if they do, we've got a good chance of getting through the next year or so with moderating inflation, moderating job growth, but no recession. >> moderating inflation,

moderating job growth. no recession you're pretty optimistic there you're getting the imf forecast, nearly 3% of global growth how does the united states fit into that picture? >> i think it feels roughly right. i take kind of a glass half full perspective on the forecast. 3% is pretty close to the global economy's potential growth that's the rate of growth necessary in generating enough jobs to keep employment stable of course, the global economy is pretty close to full employment. that's not too bad that feels pretty good u.s. growth is obviously south of that this year it's going to be 1% for the calendar year 2023, which is below the economy's potential, meaning we're not going to create enough jobs to keep unemployment stable but that's by design to take the steam out of wage and price pressure so that 1.5% growth would be

consistent with an economy that kind of threads the needle you know slow enough to bring inflation down but fast enough to avoid an economic downturn. coming up on "worldwide exchange," the company's piling up the cash in order to weather any potential economic storm. also, president biden's trip to ireland ahead of a historic anniversary. what his overseas visit may mean to policy and trade. before we head to breaking some of your top trending stories. michael jordan's black and red 13s selling for a record $2.2 million at sotheby's this week, smashing his own record of 1.47 million back in 2021 those shoes actually worn by jordan in his second game of his final nba championship, a part of jordan's partnership with sotheby's auction to auction off 13 pairs of retro sneakers designed in the memory of

notorious b.i.g. i wear a 13. nobody asked i'm just volunteering. twitter will remove its legacy blue checkmarks on april 20th this is after the company's initial announcement that legacy checkmarks will be removed on april 1st but then gave a few weeks' more after nothing happened. you can watch sunday football without youtube setting the package at pricing for the first time thisseason. both packages will come at a $100 discount for anyone who signs up before june 6th and follows you tube's $2 million sunday ticket back in december i'm signing up fly eagles fly i think we're going to the super

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welcome back to "worldwide exchange." joe biden is in northern is ireland. he's set to speak withry chi sunak and give a speech. president biden will encourage leaders to work on trade and economic policies. britain and the eu, they struck

a deal in february to address post-brexit trade tensions but the communist party which walked out of parliament last year says the proposal does not go far enough and is refusing to return to the government. turning our attention back to the market, investors gear up for that key inflation report. a growing number of investors as well as companies putting more cash on the sidelines amid continued fears around the economy. our pippa stevens is digging into how much money is sitting on the sidelines pippa? >> with uncertainty across the market, rising rates and fears of an economic slowdown, the companies that had cash on hand could be better able to handle the storm. looking specifically at russell 1000, overall they were down 13% year over year higher rates, surging costs because of inflation, softening demand, and purchasing stock all played a part. but i wanted to specifically

take a look at ample free cash flo because they could be in a better position if we do have a recession. generating cash means you could take advantage of unique opportunities presented by a slowdown macy's, cf industries, toll brothers, nordstrom, and expedia show a free cash flow yield. now looking at dividends and buybacks, they declined 8% over a quarter to $1.5 trillion now, retailer kohl's topped the list at 31.5% with tapestry in second place at 19.1%. then we had whirlpool, eastman chemical, and newell brands rounds out the top five. >> are there any trends about

what companies are returning the most cash to shareholders? >> one is chevron. i think the companies that may be more cyclical that performed well last year are now sitting on a lot of cash, and i think it will be interesting to see how do they take advantage of the opportunity. i think m & a activity is certainly one to watch we had the report from "the wall street journal." both companies tell us they don't have a comment on that deal, but there's a limit how much you can pay out with divg denlds for companies with a lot of blowback, maybe they'll get back to work and scoop up other names. >> they're looking for it anywhere they can get it. ahead here on w.e.x., investors gearing up for the big cpi report greg branch is going to look at the latest read on inflation and why he's not sold on stocks lately and coming up on "squawk box,"

we've got a special sitdown with warren buffett our becky quick is live in japan with the berkshire hathaway chief on his investment strategist including eyeing his moves with tt hacountry. that's at 6:00 a.m. eastern. "worldwide exchange," we're back in just a moment

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all right. welcome back to "worldwide exchange." time for what we like to call your w.e.x. wrap-up, six stories you may have missed as we close in on the 6:00 hour. we begin with the biden administration announcing this morning new tougher rules around auto emissions part of that plan includes electric vehicles potentially making up 67% of annual auto sales by 2032. chicago fed president austan goolsbee urging his colleagues to be patient around raising rates and says a pullback could potentially slow down inflation. the parliament in the swiss

house voted in a largely symbolic first round vote. florida governor ron desantis reportedly looking to establish control over development of property around the walt disney world resort according to reuters. walmart announcing it's closing four of its chicago stores losing tens of thousands in the last year. and movie theater advertising national network filing for chapter 11 bankruptcy, the move coming after amc disclosed a large stake in sin media. the banking organization is out with the weekly average numbers. the fed minutes will be released alt 2:00 p.m. eastern. they're looking at another quarter point rate hike and then

a cause. tom barkin and mary daly are not voters on the fomc this year. as we gear up for the trading day, bank of america is revealing clients are continuing to unload stoxx. clients are shown unloading $2.3 million in u.s. equities they reported their biggest outflow last jachnuary. greg, great to have you here we're asking you for your w.e.x. word of the day to talk about what you see the trading day ahead and how you see it unfolding. given us your w.e.x. word of the day. >> my word of the day is conflictful, frank at the end of the day there's a deep conflict between what the bond market is telling us and what the equity market is

telling us between what they have laid out and what consensus is implying and between participants you had a gentleman on saying there's going to be rate qudss this yeep r year year. >> greg, that's actually a real world. i wouldn't sure. in that conflictful argument, we're seeing bang of america getting out of equities. so what do you make about that >> first, with before we address whether it's right, let's address it's not surprising. first we heard it from the retailers saying their purchasing was shifting to consumer nondiscretionary. then we saw it prethe silicon valley bank when it fell off in the opinion survey then we saw it after silicon

valley bank when everyone was running around trying to get their deposits below 250 not surprising, the average invests consider it derisking. is it the right move i think it is. we'll revisit the october lows not the december or november before october lows. >> you're a hard core bear we know you're a bear. we want to let the audience in on that. it's not surprising for you to say that we have cpi coming up later on today. how does that impact the market? >> let's go back to conflictful. the cpi will have something for everyone whatever you're looking for, it will be there. for bulls, we'll see a drop in number they'll be able to say, see, the inflation is coming down, the fed can stop and maybe that'll be interest rate cuts on the

year for us bears, we're going to look at the bear and see month over month and see it's risen by 40 or 50 basis points. that's largely because we haven't seen it decelerate yet, but that will under mine and understood score that the feds will look at it. if there's any dip, he's naming specific things. what do you think about this is this a moment to buy the dip? >> it depends on what your time frame is, frank. if you can go week to week and be in and out. then i'm not going to point to the opportunities to make money. if you have a long-term time frame, we're going to get equities cheaper on the other side of june that's what i'm looking to increase after the debt ceiling hopefully debate but make

d'back >> greg branch maybe you should change it to bearish financial. >> i'm not a perma bear. >> a quick check on futures. green across the board right now. at this point the dow would open up about 640 points higher. >> does it for us here on "worldwide exchange. a very special "squawk box" is coming up and a sitdown with warren buffett and our becky quick in japan that's coming up next. thanks for watching. makes trading easier. with its customizable options chain, easy-to-use tools, and paper trading to help sharpen your skills, you can stay on top of the market from wherever you are. power e*trade's easy-to-use tools make complex trading less complicated. custom scans help you find new trading opportunities. while an earnings tool helps you plan your trades and stay on top of the market. everything's changing so quickly.

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good morning investors awaiting key inflation data that's today at 8:30 a.m. eastern. we've been waiting for a while for this we've been talking about this. that's big data points what to expect from the march

cpi numbers. and we have a special event for you today. becky is live in tokyo with warren that would be becky quick and warren buffett, and we're going to be talking for three hours, becky is, to the oracle of omaha ending in the first hour we'll be joined by buffett's heir apparent it's wednesday, april 12th, 2023, and "squawk box" begins right now. ♪ good morning and welcome to "squawk box" right here on cnbc. a very special edition of "squawk box" this morning. i'm andrew ross sorkin along with joe kernen. joe is in times square at the nasdaq becky is in toky