it is 5:00 a.m. here at cnbc global headquarters. here is the "five@5. after two days of gains after the stock snap not everybody in the buyer's seat one group of investors is turning bearish on u.s. stocks. two hours down and 46 to go. amazon prime day kickoff today the spending test for consumers stressed to the limit. citi lays out the playbook in the names set to win big in

the months ahead. and why ceos and tech billionaires are set to sell stock. it is tuesday, july 11th, 2023 you are watching "worldwide exchange" here on cnbc good morning welcome to "worldwide exchange." i'm frank holland. thank you for starting your day with us. let's check on stock futures after the positive day from wall street with the averages snapping three-session losing streaks. the session here with the movement the nasdaq was in the red and now higher seeing movement now on the pre-market we are seeing movement when it comes to shares of apple, amazon, microsoft, tesla and alphabet after nasdaq would rebalance the index to address the overconcentration with changes taking effect before the open on july 24th.

the downside moves for the big names. pressure from the rebalancing we are checking the bonds. we are seeing the 30-year at 4.005% probably important to note the 10-year is continuing to creep back up to 4% yield. something investors are watching with increased cost of capital we are looking at energy oil off the highest settle in a month. looking at the oil market. wti crude at $73 up .25%. brent crude at $77.80. the market trying to figure out the opec cuts and a slower than expected recovery in china time for the check of the corporate stories with silvana henao. silvana, good morning. >> frank, good morning largest conglomerate in india is closing in on the first home

grown iphone manufacturer. tata group is buying the iphone supplier for $600 million. the plant employ 10,000 workers and assembles the latest iphone 14 and nelson chai is planning to step down for uber. it is the most significant departure since the company went public in 2019 according to reports, chai informed the ceo of his intention to move on, but the timing has yet to be made. and meta platform threads crossing 100 million users in five days. the launch dethroning chatgpt as

the first platform to hit the 100 million user mark. it took generative a.i. bot two months to make that number >> it is like a button. >> it is too much to keep up with >> i was doing it at halftime last week. josh brown calls himself thready n mu murphy you have to get on threads >> fine. >> come on silvana, see you later on. turning attention now to of the -- now to the markets. june cpi inflation numbers out tomorrow as they search for a policy path forward. we have john williams telling the financial times he has slow growth, but not a recession in his forecast this as monetary policy tightening and credit tightening should weigh in the coming years. this comes on top of other three fed officials saying they need

to raise rates further to bring it back to the target of 2%. joining me now is aneka treon. good morning >> good morning, frank >> john williams is the latest fed speaker to say there will be more hikes, but a soft landing last week, it was austan goolsbee do you believe it is possible? do we get two more hikes and still see a soft landing in the u.s. economy >> frank, it is all about the juxtaposition we have today. you have monetary policy which is hawkish you have fiscal policy which is sup suppressive to the economy think about the measures with the inflation reduction act and national security measures and rewiring of the supply chains and infrastructure spend trillions of dollars infused into the market creating jobs, et cetera. that is one of the major reasons why despite very sharp rate

hikes with the economy holding up well. >> it sounds like you are saying the fed sees it the way investors see it good news is bad news. wage increases and stimulus put into the u.s. economy. that is bad news when it comes to inflation long term, how does that cycle play out people have more money to spend. prices remain elevated because people can spend >> that's exactly it that's why, you know, looking at inflation figures is all about core inflation core inflation is 5% mark. that is nowhere near the target of 2%. services inflation is sticky the issue is all central banks in the world were too late to start the rate hike cycle. they were talking about transitory for too long. the risk then is services inflation, especially, inflation gets embedded into the sector. it gets sticky as long as people have jobs and wages are growing, people are happy to continue consuming

services which is what is happening right now. >> we see people still consuming, but one thing -- some people are pulling back on is stocks people are getting picky when it comes to stocks, especially in the second half of the year. i know you have an investor's manifesto. one point is market share and one is roic. return on investment capital give us a sense of how important strategy is with stocks and metrics you are looking at here. >>manifesto is strong. we have a strong focus and fee and alignment as shareholders. the first one is competitive positioning which is extremely important. you referred to market share and one is return on capital employees. let's start with return on capital employee

they make decisions on how they will invest every incremental dollar of capital in the business in a factory, hiring new people, in customer acquisition or digital marketing. every incremental dollar invested is invested based on the expected return. that is captured by the return of capital investors we come from a world a decade where rates were so low that it is all about the spread. what is the cost of capital compared to the return i expect to generate on the capital if the cost of capital is almost zero, it doesn't matter what the expected return is because the spread is there and i'm happy. >> we are all in the environment now where rates continue to rise the other point is when it comes to market share, companies with 20% market share it sounds like investors need to do homework before putting money on the stock anneka treon, thank you for the

time we have more to come here on "worldwide exchange," including the one word investors have to know today first a live report from lithuania where president biden just arrived for the nato summit we layout the names to watch in the a.i. wave later on, getting set for the high stiakes hri oeangn capitol hill with the pga and liv golf merger. a very busy hour when "worldwide exchange" returns. ♪ partnering to unlock new ideas, to create new legacies, to transform a company, industry, economy, generation. because grit and vision working in lockstep puts you on the path to your full potential. old school grit. new world ideas. morgan stanley. 76% of 23andme health customers surveyed reported taking healthier actions. new world ideas.

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welcome back to "worldwide exchange." let's check on the action in asia and europe with arabile gumede in the london newsroom with more on both. arabile, good morning. >> good morning, frank not much by the way of news has moved into europe. nato summit taking the headlines. you did get record wage growth numbers. that sparked fears when it comes to inflation which has been sticky here. particularly in the uk more than the rest of europe in particular that will hurt when it comes to the fears for the bank of england which continued to say the government now needs to step in and help them in some way when it comes to helping in the fight against inflation. we are seeing a mixed board thus far. ac across the flat line the cac 40 in france is the only one in lock step in asia, mixed trade with the cpi numbers from china yesterday

and that has filtered through to today picking up more than 1.5% gain for the stock in australia as well with 1% for the hang seng index in hong kong. positivity across the board of the mixed trading day in europe. anticipation is looking to the cpi number in the u.s. which will point in the direction of the next interest rate hikes frank. >> arabile, thank you very much. arabile gumede live in the london newsroom. sticking over seas, presiden biden set for two days of talks in lithuania and in addition of the new member state steve sedgwick is live on the ground where french president emmanuel macron is speaking to reporters. steve. >> reporter: absolutely, frank you caught me at an amazing moment the western world leaders coming

through. i caught words with the prime minister of norway and estonia and belgium and lithuania. then as well as the secretary-general of nato talking about the security guarantees ukraine will get on the back of the meeting. great cooperation with ukraine and nato to work forward on a armament macron taking questions in french the gentleman crossing behind me is the latvian prime minister. interesting hearing from the latvians and lithuanians they are the baltic nations which are concerned about what is going on with russia. where i'm standing frank, i'm 30 kilometers from belarus. we heard one say let's not pretend that belarus is independent. belarus is a close ally to the russians they have tactical nuclear weapons on the shores. they have wagner fighters there. they have all kinds of concerns

about the belarusians doing with the military forces. interesting listening to the world leaders coming past athe camera saying we need investment in the east. all the way down to baltic and poland and in the east and central east of europe with great concerns of what russia will do if, frank, it wins the ukraine war. if it wins the war, we are all at risk. territory integrity is at risk vast fascinating here in vilnius. >> give us a sense of the headline story here. lithuania joining nato are you hearing comments about that >> reporter: that's the swedes joining nato this is fascinatifascinating. i spoke to the lithuanian president who said we will hear

positive news on this tonight. then a big story broke where turkey said we will not allow sweden to join nato unless we get into eu. unless we get a pathway to eu. those are two different things that went against what i heard are minutes earlier from the lithuanian president i feel the lithuanian president knew something we heard it from president biden and stoltenberg that the turks were allowing the swedes into nato this completes everyone to get a map out. it completes the baltics in russia the norwegians and swedes and poland it is interesting. the secretary-general telling me earlier that actually what with the russians wanted was a smaller nato and feeble nato it has a bigger nato going from

30 nations to when the swedes are in at 32 interesting day. >> steve sedgwick live in lithuania. talking about sweden getting the admission into nato. steve, thank you. coming up on "worldwide exchange," citi's top picks in the a.i. space and an unusual double feature mcdonald's gets into the wed withing business and $80 hot sauce. the top trenngdi stories they are coming up right after this stay with us i was told my small business

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welcome back to "worldwide exchange." the director of national defense and k officials will have a hearing on a.i the looming regulation is not hurting enthusiasm for the names leading the charge or the etfs tracking the trend like the row would ick -- robotics etf. citi is out with the playbook with the names set for what it calls significant and transformative a.i. opportunities in that space. joining me now is one of the authors of the report who is the citi head of equity research ahmed, thank you for being here.

>> thank you for having me >> you all a.i. transformative however, i want to talk about investing. we have seen the arkq which is up 40% do you see the potential for upside in etfs or one individual name you layout in the report? >> thank you i do believe the initial upside in a.i. is visible there will be greater emphasis on the stock opportunities and names which are not very obvious to investors yes, the funds will continue to do well because some of the winners will continue to push on, but i think alpha generation will get harder and we wrote the report focusing on opportunities and trying to classify them as

significant. we look at the enablers of generative a.i., but we have gone a step further across the radius sector across citigroup >> one of the adopters you say is financials. big earnings are coming up jpmorgan chase and bank of america as adopters specifically how do we see a.i. on financials and the rate hikes we expect change your thesis >> it is very interesting question i would say banks are looking at this as much more than a one or a two or three-to-five year trend. it is bigger and broader and strategic in stage if you look at the generative a.i. and use cases across various segments within the banking industry, it is quite

significant. i do not necessarily believe the rates might influence the trajectory of generative a.i. adoption it is strategic. i think it will manifest itself across multiple use cases with banking and regional banking we talk about some of the use cases within the financials and fintech section. >> detailed note i want to get to the details in it you list a number of u.s. and international stocks with a transformational opportunity with a.i your definition meaning more than 20% of sales coming from a.i. related sales nvidia and microsoft listed in the note don't you believe or do you believe that the transformational opportunity that investors can find already priced into the stocks or is there some part of the opportunity being a big name

>> that is a good question when it comes to the names, there continues to be debate in the market i remember my colleague who covers nvidia telling me when the stock was up 75%, the investor pushed him back now the stock is double that year to date there is always an element of hype if you look at fundamental levels, based on the individual views on the stocks, we see upside we do not believe all of it is priced in. they are strong. they are recognized for the a.i. potential. we think there is lots more to come therefore, we highlight them in the report we are still early in the innings. there are many more names where the impact could go from incremental today to significant tomorrow from significant to transformational tomorrow what we did not want to get into is the winners and losers stack. we think the discussion is

deeper than that we believe this is a trend which needs to be tracked over time. we see this is evolving over time we want to pay attention. >> we are show different graphics annd walls with the report is there one under the radar that investors need to look at right now? >> absolutely. i think one of the perceived losers, if i call it, has been the i.t. services names. we talk about that being the fifth layer of the value play. most of this is being on the emphasis of a.i. replacing jobs. there are certain names that i would highlight low bond which is covered by my colleague in the u.s. it has made solid invest in a.i. for some time. my colleague believes it is

likely to be a winner. the other interesting point, if i may highlight, people bucket the scale of meta and alphabet and amazon and think it is the same my colleague highlights the levels of all three of them. one is significant and transformational there are nuances you can bring out once you know the companies for a period of time >> i think that is a great point, amit. there is a fourth point which is oracle in the mix. something investors are looking at great report thank you for coming on. we appreciate your time. >> pleasure. thanks for having me. let's check on the other headlines outside of business with jessica lleyton in new york >> good morning. president biden approved a disaster deck ra lelaration for

vermont. some places have gotten 9 inches of rain causing catastrophic flooding first responders have been involved in more than 50 swift water rescues. weight loss drug ozempic is under investigation from the eu after three patients were thinking of suicide or self harm novonodisk says they have found no connection of self harm in clinical trials, they d discluded those people from the trials. and vlad mere guerrero jr.

w wins the major league home run derby. thank you, jessica two hours down and 46 to go. prime day kicking off today. the latest spending test for consumers who may already be stretched to the limit more on this cominupg after the break on "worldwide exchange." stay with us go on... well, what if you partner with ibm and red hat, use a hybrid cloud solution to connect data across clouds, then analyze all that data with watson. okay, but this needs to meet our... security standards? yup. compliance standards? mm-hmm. so they get the insights they need... yup. in real time... check. ...to make quick decisions? check. aaaand check. that's the solution ibm and a global bank created. what will you create? ibm. let's create. i was told my small business wouldn't qualify for an erc tax refund. you should get a second opinion from innovation refunds at no upfront cost. sometimes you need a second opinion. all these walls gotta go! ah ah ah! i'd love a second opinion. take the first step to see if your small business qualifies.

5:30 a.m. in the new york city area. still a lot ahead on "worldwide

exchange." stocks looking to rebound after the two-day slide. and locking in a multibillion dollar deal robert frank is here to talk about how much billionaires have unloaded in the strong start to the year it is tuesday, july 11th you are watching "worldwide exchange" here on cnbc welcome back to "worldwide exchange." i'm frank holland. thank you for starting your day with us. let's check on the stock futures. you see a mixed picture. the nasdaq is fractionally higher s&p is higher in the last minute the dow is lower it looks to open at this hour 30 points lower it is early. we are seeing a lot of movement. this after shares of microsoft, apple, the alphabet and tesla

took a hit yesterday to 1% to 2% after the nasdaq would retbalanc the nasdaq 100 to address the overconcentration. those will take effect before the open on july 24th. and the yields here with the 10-year treasury at 4% something we continue to watch increased cost of capital. we are seeing the 30-year treasury close to the november of 2022 level. above 4% let's check on the corporate stories with silvana henao silvana. >> frank, warren buffett making another bet on energy. berkshire agreeing to pay $3.3 billion for dominion energy. the deal is still subject to

federal regulatory approval and expected to close by the end of the year microsoft confirming it is cutting more jobs after slashing 10,000 positions at the start of the year microsoft spokesperson would not specify to cnbc how many positions would be cut in the latest round a filing by the company said it would cut 76 positions in the home state of washington 66 are virtual positions a senate homeland security committee is set to hold a hearing this morning on the planned merger with the pga and liv golf ahead of the hearing, the pga tour is defending the deal the tour chief operating officer ron price, set to testify, argued that the merger was the best joetoutcome of golf. >> it is controversy we will track the story here on

cnbc i don't know if you are a golfer i'm terrible sdp. >> i tried i stopped trying >> silvana, thank you. on july 25th, cnbc will host game plan bringing the leaders across the sports landscape to talk about sports and business to learn more, scan the qr code on the screen or go to cn cnbc cnbcevents.com. and today is prime day activity is buzzing at this hour in melville, new york. this is an uncertain economy in the year of inflation. amazon is offering discounts and first travel deals with priceline. insider is projecting that amazon will make $12.9 billion on prime day up 11% from last year.

$8 billion of sale notis in thes andy jassy said consumers are trading down and bargain hunting. >> we want customers in an uncertain economy where they are aware of price where they extend their dollar to have a broad assortment of items they can buy at deeply discounted prices. that's what we are hopeful they get in prime day >> let's talk more about prime day and state of the consumer with stacey widlitz. >> good morning, frank >> let's talk about the prime day. we are here and people are looking for discounts. we know there is a bump of revenue for prime day and competitors with similar deals what does it mean for the profit for the quarter and margin for the quarter? >> really, you know, it is cyber summer deals it is prime day. we have seen this last year and we had two prime days last year.

one in october as well expect the same this year. i think the big deal is that this is not only about selling stuff, but more about subscriptions. really, amazon wants you to sign on to become a prime member and have loyalty all year long same for walmart with the half off deal for their membership. target circle is the same thing. the deals are just for members they want you to sign up to get data and your loyalty. what we have have seen in the ps this is a pull forward of sales for back to school in october, we had the second prime day. pull forward of holiday sales at lower margin consumers have about so-so this summer it gets them out there and excited about spending >> we are showing the summer deals there. overall, is it a net positive or

net negative for the quarter for the companies? i know it is about getting subscriptions and data what about the profit? >> it is positive to get people. as you say, everybody is price sensitive at the moment as a result of inflation and the pressure in the economy. anything to get them out there and we will see discounts at some point whether it happens now or the end of august, they will happen. we get the consumers motivated and out there. of course, when they are spending on things discounted, they get inspired and pick up full price it is about getting the customer motivated. >> stacey, i want to get the latest data from mastercard. spending up in june in the mist and northeast which was low with the smoke from the canadian wildfires. what do you make of this >> not a big surprise, frank, as

you know we were smoked in for days even into july, obviously, wild weather. we had fourth of july which was broken you up it wasn't a big weekend. there were not a lot of events to get people in the stores. a lot of events kept people from getting to the stores. you know, prime day coming along now or cyber summer or any of the names we are hearing from all brands, is a positive because the traffic has been choppy it is going to get people out online and spend >> what is the take away from prime day? what do we learn from the consumer and retail for the rest of the year? >> you will learn about how price sensitive they are here and what they are willing to spend in terms of great deals on consumer electronics o selectro. there are great deals on toys

and christmas trees. 20% off barbie will people shop for holiday now and hoard barbie at 20% off? what does that mean forward? will we see a bigger thud this year before christmas as we saw last year? >> these are great questions i know people are watching and looking for the lightning deals. stacey, it is great to see you >> good to see you, frank. turning attention to the billionaires and ceos unloading stock at a fast pace after low level last year. uber ceo is the latest to ditch shares robert frank is here with more great to see you. >> good morning, frank good to see you. america's top billionaire selling over $9 billion of stock so far this year the walton family, heirs to the walmart fortune, top with $4

billion in shares. that family typically sells to stay under that pledged ownership threshold as walmart continues to buyback shares. many sales are in tech joe giveon the co-founder of airbnb cashing in $893 million in shares. and larry has more pocket change selling $848 million of stock as options excises. safr selling her options and three board members of nvidia big sellers moderna's ceo selling $300

million of stock after unloading $400 million of stock last year. and josh harris selling $210 million of apollo stock which pays for the washington commanders he has the $6 billion check to write with other investors >> talk about first class problems we covered all of the selling. what about the executive insider buying >> a good question because many people could see just the selling part as a bad sign for the market or perhaps the individual stocks. insider buying is also running well behind last year. it is about about half what it was in the first half of 2022. you have a lot more selling at the top by the billionaires and less buying. together, not a great sign for the market >> certainly something to watch. robert frank, graeat to see you coming up on "worldwide exchange," the morning global briefing and major banks buying

for an ipo set to take place in china. we have the top trending stories. taylor swift, move over. now some are calling "barbenheimer. purchase same day pictures to watch "barbie" and "oppenheimer." speaking of hot items. siracha bottles selling $80 each on amazon during the shortage at the supermarket which started a year ago if you craved crispy mcnuggets, mcdonald's is now offering a wedding catering package for $230 the offer is only available in indonesia. fo foodies say it is only a matter of time before it comes to the

united states. more on "worldwide exchange. those are your trending stories. what if we live to 100. i don't want to outlive our money. i keep eating all these chia seeds. i could live to be 100. we work with empower, even if we do live to 100 we don't have to worry. eh, not worried. take control of your financial future to empower what's next.

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the operations could be crippled by the acquisition here from l3harris we will continue to watch the story throughout the morning time for the "morning call sheet" by firms you know and stocks you own key bank wrraising the target o nvidia it is in the best position as the sector is in increased de demand shares up .7.75% piper sandler moving zillow to overweight looking at share gains and bottoming in the housing picture with improvements next year. looking at shares of zillow up 3% jefferies upgrading jpmorgan chase to buy

j jefferies calling it a winner with strong liquidity positioning and best in class position shares of jpm up 1%. time for the "global briefing." time to look at trading desks around the world chinese real estate stocks getting a boost after beijing announced two policies to support the real estate market there. the policies will remain in place until the end of next year china's automaker geely will sign agreement with renault. the remaining stake will go to a subsidiary of geely. and $9 billion shanghai ipo, ago to jpmorgan chase and an hsbc, among those working to bring

investors to the biggest public offering this year ahead on "worldwide exchange," the one word every investor needs to know today and truist advisers keith lerner says this signals a bull market to him if you miss "worldwide exchange," check us out on apple or other podcast apps. more on "worldwide exchange. stay with us after this break. ♪ to guide you through a changing world. ♪ (bobby) my store and my design business? we're exploding. to guide you through a changing world. but my old internet, was not letting me run the show.

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this is ge aerospace, advancing flight for future generations. ♪ welcome to a new era of flight. looking at live shots from around the world london, hong kong, new york and washington welcome back to "worldwide exchange." time for the "wex wrap-up. we begin with fed president john williams saying he has slow growth, but not recession in the forecast, looking ahead to 2024. india is closing in on a deal to have the first home grown iphone

manufacturer tata group is set to buy the factory owned by the taiwan supplier for $600 million. nelson chai is planning to step down. if confirmed, it is the significant departure since the company went public in 2019. threads crossing 100 million signups within five days of launch and dethroning chatgpt of that mark. and union dock workers will not unload stock bound for british columbia the strikes have disrupted $5 the billion of cargo and prompted two vessels to divert to the west coast of the united states. and hca healthcare says personal information for tens of millions of customers have been stolen in a cyber attack

hca warning the information is available for sale on the data breach forum. we are getting ready for the trading day ahead. the state of small business with the nfib survey. then fed speak from new york central bank speaker john williams then amazon kicking off the two-day prime event today. we are watching lithuania and president biden and nato members kickoff the alliance's two-day summit hedge funds from the u.s. to europe which shows slash of bets on rising u.s. stocks to the lowest level in about a decade it is over the resilience of the rally which is a concern over more rate hikes and economic d downturn the flip side is the european stocks at the highest level ever

with the stoxx 600 trailing the nasdaq this year the ftse 100 is in the red for more on this, we have keith lerner at truist advisers. >> good morning, frank great to be with you on tuesday more than. -- morning. >> are you seeing things similar to the hedge fund managers and is it time to take money off the table in the u.s. and move to the international? >> we are bullish on team usa. we have been that way for several years. the performance has been wide. you are concerned to get that back and consolidate as we look at the next 12 to 18 months, you have the global economy slowing down and on the short-term basis, a bit extended we would not shift our position for anyone in the year-end outlook. >> i heard you talk about the equal weighted s&p 500 index i want to give you credit. if you look from june where the

market broadened out, you see out performance by the s&p and small cap russell 2000 is that where you put the money to work today as you believe the market is broadening >> i think for the next several months i think the equal weighted index is likely to continue to out perform as the big cap tech stocks take a breather we like big tech longer term we came out of the best first half of the nasdaq since 1983. some digestion makes sense and in early june, around the time we decided to increase exposure there, we had the greatest underperformance on the market cap in the last 30 years. we feel that rubber band got stretched too far. we feel more upside for the equal weighted index to the s&p. >> keith, with that in mind,

what is your "wex word of the day" here? >> frank, consolidation for the market nasdaq had a big first half. s&p had a bi we are heading into the cpi tomorrow and we feel the ex-ppectations e higher we feel this is a chop and forth back and forth to digest the big gains. >> you had a big wind up i expected contrary. a lot of con sal dsolidation cog up where would you put money today? >> i think overall, we still are bullish on the industrial sector it had a big month last month. you have a lot of positive tailwinds.

infrastructure spending and onshoring. that is our favorite area. over the next few months, if we see the technology companies come in and correct in time, we think that is an opportunity we think it is more of arr restg period for them. >> is that based on reshoring and infrastructure bill pass with the funding come through in recent weeks >> i think it is a multiyear story. i think it will be a trickle to provide revenue opportunities for a lot of the companies in a time where the overall economy is normally likely to slow if the economy slows, you don't want to be in industrials. tailwinds will continue for the next couple months and possibly the next couple years. >> keith lerner, we appreciate it great to see you. before we go, the secretary-general of opec speaking with reporters right now saying global energy demand is forecast to rise 23% through

20 a 2045 there needs to be investment to keep up as the iaea report showing the clean market energy market surged to $320 million in the last year. looking at the energy market up in the green right now that is it for "worldwide exchange." "squawk box" is up next. e they khealth 't just a future state. health happens now. start your dna-powered health journey today with personalized insights from 23andme. sleepovers just aren't what they used to be. a house full of screens? basically no hiccups? you guys have no idea how good you've got it. how old are you? like, 80?

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good morning dow hanging on to the gains yesterday. up a little this morning futures are muted after a winning day yesterday on wall street all this ahead of tomorrow's cpi data we get you up to speed on what to expect. pga tour officials set to testify before the senate on the

deal with liv golf later this morning. and prime day sales kickingoff today and expecting to bring in billions of dollars for the company. it is tuesday, july 11th, 2023 all-star game for mlb. "squawk box" begins right now. good morning welcome to "squawk box" here on cnbc we are live in the nasdaq site on times square. i'm melissa lee alongside joe kernen we are muted looking ahead to cpi data. in the meantime, s&p looking to add seven at the open. dow looking to add 23.