it is 5:00 a.m. here at cnbc global headquarters. here is the "five@5." breaking news. thousands go on strike as the united auto workers fail to reach agreement. and disney ready to deal. media moguls line up for abc. disney says no decision yet. big bounce for a.r.m. on day two.

why instacart is taking a closer look at the red hot debut. stocks coming off their first winning session of three as futures look to keep the party going. later on in the show, a rare bright spot for the chinese economy lifting stocks overseas. it is friday, september 15th, 2023. you are watching "worldwide exchange" here on cnbc. good morning. welcome to "worldwide exchange." i'm frank holland. let's start the day with the check on u.s. stock futures after the dow's best day since early august. a bit of a mixed picture. s&p and dow in the green. the dow would open up 80 points higher. the nasdaq, however, lower. we will talk more about the nasdaq in a minute. we are checking the bond market. we begin with the 10-year

treasury. 4.32. rising a few points this morning and after the hotter than expected cpi report. important to note the 2-year treasury has the yield back above 5% right now. and the energy market with the wti back above $90 a barrel. up .50% this morning. similar for brent crude at $94.06. natural gas up .50%. back to the nasdaq and tech. shares of a.r.m. holdings set for day two of trading after the debut. a.r.m. closing 20% higher. now more than 9% higher. now it is $69.45. we saw it lift the nasdaq higher, but in the pre-market, nasdaq fractionally lower. we'll talk more coming up. turning back to breaking news this morning.

for the first time three automakers are on strike after failing to reach the deadline before midnight eastern time. now thousands of worekers on targeted strikes in michigan and ohio. we have phil lebeau with the latest. >> reporter: good morning, frank. we are here at the ford plant in wayne which is west of detroit. the picketers have been here since midnight. we have been looking at the strikes in michigan and ohio and missouri. spor first time we have seen all three big three struck by the uaw. three facilities employing more than 12,500 employees. let's hear from shawn fain as he

announced the strike. >> this strategy will keep the companies guessing. it will give our national negotiators leverage and flexibility. if we need to go all-out, we will. >> reporter: it comes down to pay more than anything else in the strike by the uaw. here is the difference in the latest offers with the uaw which is seeking 36% to 40%. you see ford and gm at 20%. those are new offers. relatively enough offers that came in over the last 48 hours. stellantis at 17.5%. as you look at where the stocks are indicating pre-market. keep in mind, no uaw negotiations today. there will be a rally held by the uaw held in detroit later on today. coming up this morning, we talk with gm ceo mary barra.

there is a gm plant in missouri where the uaw has gone on strike and the question is do we see other plants hit by the uaw notice in the weeks ahead? >> we will talk about this all morning. first, give us a sense of how different from the norm the targeted strikes are and how long do you expect this to last? >> reporter: i talked to some of the guys here. their guess is as good as anyone else's. they indicate they will picket for two-to-three weeks. once they come to agreement, if it is a tentative agreement, all local unions need to approve and that could take time. the question becomes how much movement can be made when it comes to the pay as well as the other issues that are there. pay is the big one. the union is adamant they will

have to see higher offers from the big three. do we see gm and ford and stellantis say we come in at 24% or 25%? it will not happen overnight, but that is where we see movement. frank. >> phil, you mentioned the stock prices. ford and gm down 2% in pre-market. who is likely to blink first in the situation? >> reporter: it is going to be the automakers who have that make a move here. uaw believer believes they have. frank, they did not hit engine and transmission plants which would have crippled the automakers. there is assembly work going on around the country. that will be the case. if they do the targeted strikes, it is death by a million cuts. at this point, we have to see if

there is movement from the automakers. >> phil, thank you. great reporting. we will talk more about this. let's talk about the financial impact of the strike and the i believe pact on the u.s. automakers if it drags out nfor week. we have phillipe here with more. >> good morning. >> how are the targeted strikes going with strikes at all three of the big three? >> it is interesting. i think to be fair, we have been prepared by shawn stating the wide strike. the first thin g is they are striking widely. they are looking at final assembly. they are not trying to shutdown the value chain. they have not targeted the biggest earners. mid sized trucks at gm and ford

also with the wrangler, i'm sorry. ranger and bronco. if they wanted to hit hard, they would have chosen different plants for products. wide start. soft start. >> you are saying they are not hitting that hard. stel stellantis is up slightly. what is the long term impact on the stocks if this continues? we have seen the estimate that this strike takes ten days and has a $5 billion negative impact on the economy. what about stocks? >> surprising to see stellantis go up. at the same time, it is most at risk. they have been treated by the others with the expectations worse at stellantis. what it tells me is because this is a soft start, maybe the parties are not that far apart.

they hope to get a deal fairly quickly. that might argue for a shorter strike than if they were far apart and hitting hard. the way we look at it is the impact per week and our calculation is a week shutdown at stellantis is 1.5% or 2% of ebit expectations. ford is higher at 4% to 5% and gm is 3% to 4%. we make the estimates on the fixed costs and costs of a shutdown if 70% of the production is curtailed. this is not what we are looking at right now. >> that is why stellantis is higher. it is least likely impacted sdplcimpacted. >> it has more inventory. >> one other thing is compensation. the other thing is the future of evs. the workers want input into that. when we talk about the stocks,

this strike and labor negotiation, what impact is ev? >> absolutely. i think the uaw wants commitments that ev is built in america and the pay structure is not going to reflect the oems. comepensation may be lower. what hasn't been discussed is maybe more product commitments that the uaw has from the oems. particularly stellantis. would they agree to reopen and commit to ev production? that is the discussion on the radar. a lot of discussion about pay. it is important for the uaw. >> we are showing the rating on the stocks. at what with point if this continues to dragging on changes

your price target? >> it depends. first, we have to see if uaw pulls back on ford. striking ford today undermines the negotiations it has with ford canada. that is a shorter strike to let the canadian unions agree on the deal. we have to see oems go back to the table. right now, it looks like a soft start. i would say stellantis has the benefit of higher profitability and diversified earnings space. 80% of the earnings are in north america for ford and gm. >> philippe, thank you. >> thank you. more ahead on "worldwide exchange," including the one word that investors have to know today. plus, more from our phil

lebeau who will speak with striking workers on the picket lines this morning. why instacart is taking keen interest in the monster debut for a.r.m. later in the show, disney ready to deal? moguls line up for abc and other assets. what disney is saying about a possible sale. a very busy hour still ahead when "worldwide exchange" returns. you get listening more than talking, and a personalized plan built on insights and innovative technology. you get grit, vision, and the creativity to guide you through a changing world. ♪ icy hot. ice works fast. ♪♪ heat makes it last. feel the power of contrast therapy. ♪♪ so you can rise from pain.

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welcome back to "worldwide exchange." look at u.s. futures. dow has moved higher since we started the show. opening up 90 points higher. s&p is fractionally higher. nasdaq in the red right now. time to see how europe is shaping up as the trading day gets under way. julianna tatelbaum is live in the london newsroom with more on the early action. julianna, good morning. frank, great to see you. before we get into the european trade, it is a look at the overnight markets. hang seng and hong kong gained .70%. we have an economic data dump from china. the economic activity has um proved in the month of august. retail sales growing 6.6% year on year. industrial production also picked up. fixed asset investment missed expectation. overall, investors interpreted the data suggesting we may have

seen the cyclical bottom in china. nikkei 225 traded strongly overnight. 1.1%. on to europe, the green action we are seeing this morning seems to be linked to the positive data from china. cac 40 leading way at 1.3% there. the luxury names are outperforming. you see the household goods basket is 2% higher. luxury is housed within that basket. 3% gains for lvmh and burberry. the real underperformer is technology. that seems to be on the back of reports that, tsmc is requestin delays for deliveries. frank. >> julianna, thank you very much. julianna tatelbaum live in the london newsroom. turning attention back to the u.s. and wall street.

pla markets are looking to pop as economic data is looking for a pause next week. the cme fed watch tool showing a 97% chance interest rates remain unchanged as striking uaw is showing slower growth and higher prices. we have mark haefaele here from ubs. great to have you here. >> thanks, frank. >> if we see data that the uaw strike goes ten days then it will cost the u.s. economy $5 billion. >> this is a risk scenario. people are watching it. it can have an impact on the w wage inflation. this is not aing significant risk yet. >> you say yet. you say near term or long term.

you see the slowdown with the wage inflation which is something investors are worried about with the labor negotiations going on around the u.s. >> as you said, we don't know how long this is going on. as the previous guest said this could be resolved slowly. there are many risks out there. the focus is the fact the benign inflation data we have been getting makes most market participants believe the fed has room to pause here and that's one key. the second is the u.s. consumer has remained strong. that's put out the fears of recession going forward sd. >> you are not overly concerned. fair enough. you say we need to see the rally going in the market is the a.i.

rally. a.r.m. closed 25%- higher. you can't do a.i. without a.r.m. is this confirmation there is more appetite for the a.i. rally? >> you know, what i would say is that first, for the s&p 500 to stay up here is mathematical that you can't have a pullback in the magnificent seven names because they have been a source of the gains. i think on a.i., this is not block chain or something like this. there are many real use cases going on in companies. i think we hold out the upside possibility that as this a.i. gets used by a broader set of companies within the economy, companies can maintain the margins that will continue to drive profit growth going

forward. our optimism about a.i. is actually much broader. we hear from companies all the time that they are expanding the use of a.i. i don't want to give the impression this is a narrow story about chips. actually, we prefer to play it through a broader selection. >> mark, thank you. coming up on "worldwide exchange," why a majority of the top cfos think inflation in the u.s. hit its peak. we have the latest cfo council survey out and leslie picker has the details coming up. zhuzhed u♪ ♪ this is victoria, helping women stay healthy. ♪ ♪ these are your kids, snacking snacks ♪ ♪ made with veggies. ♪ ♪ and matty can help ♪ ♪ you find your new favorite color. ♪ ♪ and kyle helps find meds for under 10 dollars. ♪ whoever you are, wherever, whenever, at cvs, healthier happens together. every day, businesses everywhere are asking:

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welcome back to "worldwide exchan exchange." time to check the top corporate stories with bertha coombs. >> i was working at an abc station and became a cast member, part of disney years ago. byron allen is the lead bidder for abc and fx and national geogg geographic. the offer is preliminary and allen is planning to work with banks and pe firms to finance that deal. the news follows earlier reports that disney held talks to sell abc television assets to nexstar media.

disney says no decision has been made at this point. instacart is preparing to raise the target price for next week's ipo following the a.r.m. successful debut yesterday. according to the wall street journal, the company plans to sell shares $28 to $38 a piece and amend the filing with the s.e.c. today. at the high end of the range, instacart would fetch a valuation of $10 billion. whatsapp is denying a report that owner meta platforms is looking at advertising models to boost revenue. the ft report adds that meta is weighing whether to charge a fee to use whatsapp without ads. that would be a significant ch change. >> a huge change. i know people with family members in other countries rely on whatsapp to communicate.

a big shift. >> critical to talk to family members abroad. i do. >> bertha coombs, thank you. time now for a fresh look at the view from the c-suite with the results from the cfo council survey. it is a mixed picture on inflation and fed fight against it. leslie picker has more. >> reporter: cfos are feeling better about the inflation picture. almost the entirety of cfos surveyed in the third quarter questionnaire think inflation has peaked with just 5% believing inflation could go higher from here. that said, the majority of cfos predict the fed will not hit the 2% target until 2025. in the process of getting to that target, 70% of responders said getting inflation under control will result in recession some time next year.

remaining 30% believe the fed can engineer a soft landing and controlling inflation without pushing the economy into a deep recession. higher interest rates do appear to be impacting the way corporations allocate capital. the majority of those surveyed said rates are having a negative impact on spending and hiring and investment at the companies. i thought this was interesting, frank, inflation is no longer the number one risk factor that cfos are facing. concerns around overregulation shot up to become the number one concern with 40% of respondents choosing that over politics to fed policy to consumer demand. fr frank. >> thank you, leslie picker. for the first time ever, the big three are on strike.

phil lebeau is walking the picket lines. >> frank, this picket line west of detroit. that means no bronco ora ranger production. how long are workers prepared to stay off the job? we will have more when "worldwide exchange" returns. >> announcer: cfo council is brought to you by workday. the unne y zippers? that thing! billy, rock star is just how doug feels when he uses workday. thanks, rory. i'll show you rock star! be a finance and hr rock star. workday. for a changing world. billy idol just stole your golf cart!

it is 5:30 a.m. in the new

york city area. more ahead here on "worldwide exchange." we are following breaking news. uaw officially walking off the job after failing to reach a deal with the automakers. phil lebeau is in detroit with the latest. a.r.m. is looking to continue the stellar start after surging in the trading debut. jump starting a stagnant ipo market. stocks looking for another winning week increasing confidence that the fed can pull off a soft landing. it is friday, september 15th. you are watching "worldwide exchange" here on cnbc. welcome back to "worldwide exchange." i'm frank holland. let's start the half hour with the check of the u.s. stock futures. the s&p is higher. the dow is moving higher since the start of the show.

opening up 90 points higher. the story here is the nasdaq. actually turning negative. we will talk about that in a minute. stocks are looking to notch solid gains on the week. all three indices up 1% to 2% with the nasdaq being the big winner with the a.r.m. ipo. more on that in a moment. let's look at the nasdaq which is lower in the pre-market falling .50% in pre-market. the biggest laggard is the chip names. asml down 3%. applied materials down almost 3%. similar for other names like adobe after earnings with a tough week. lam research is down as well as kla. this is on an issue with taiwan semi with shares down .30%. we will talk more on that later in the show.

we want to talk about oil which is sitting at 11-month highs. wti is the u.s. benchmark above $80 a barrel. off the highs right now. brent crude at $93.91. natural gas is moving higher up over .50%. turning back to the top story this morning. uaw officially on strike against all three of the big three automakers for the first time ever. the two sides failing to strike a deal on the labor contract before the midnight deadline. this morning, thousands of workers hitting the picket line. phil lebeau is at the ford assembly plant in wayne, michigan. phil? >> reporter: frank, 3,300 members here on the picket lines. they build the bronco and the ranger. let's talk to members here

pick picketing. it this is scott fox. scott, how long have you been here? >> we started at midnight. we walked out at midnight. i'm happy with the support we are getting from the membership here. this will continue as long as it needs to be and with whether it is two or three weeks or six to it eight weeks, we'll be here. >> reporter: ford made a 20% raise offer and changes to the t tier structure. they say that is a good offer. >> i would like to see the things that are the stipulation that we are having with the contract right now and why we are having a difficult time with that part of the deal. that's the part that people don't see or understand or hear. smaller pieces that fit the puzzle so everybody is happy. that's the stipulation we're

having right now. >> you believe this is about legacy? you are close to retirement. this is about the other guys on the line. >> that's who i'm looking out for here. the guys with the same opportunity with 32 years here and to bring it up to a quicker ways. we have one guy on the line who has been here for 18 years and he just made top pay after 18 years. ten years is part-time. eight years as full-time. he had to go through the eight-year process before he got to the top of the tier. >> we talked to jim farley who said we give these guys a 40% raise and we will go bankrupt in a matter of years. does he have a point? is there a point to a limit of how much you get? >> i agree. there is a limit. ask for the world and settle for a town. >> reporter: scott fox, uaw member. hold on, scott. frank, you have a question? >> absolutely. i lived in detroit for several

years. familiar with the auto workers. what does he think about the targeted strikes as opposed to the all-out strike? >> the question from frank is what do you think about the targeted strikes as opposed to shutdown the tentire company at once? >> a good move there. we will slowly take each part of the picture out. start here. this is one of the best plants that ford has for profits. maybe the next one is the transmission. when this happens, we will start seeing bigger issues with the other plants. >> reporter: scott, thank you. guys, that's the story from here on the picket line at the wayne fa tcility for ford where they build the bronco and ranger. >> phil, thank you. let's talk more about the strike and overall state of labor. sharon block is the executive

director of the center for labor and adjusted economy at harvard law school and a member of the national labor relations board, she was during the obama administration. thank you for joining us. >> thank you. good morning. >> certainly this is an historic day for the labor movement in the united states. i want to put this in perspective. how big of a deal is this to see a strike at all three automakers, but not a full strike. how out of the norm is this? >> this is completely out of the norm. this is one of the most mature collective bargaining relationships we have in the country. these companies have been bargaining for close to 90 years. this is a strategy that we have never seen before in this industry. it is absolutely unprecedented. >> according to you, the big issues here are compensation tied to the company success and hiring more workers and preserving current jobs and also input into the ev future.

is there one you believe is the sticky issue with the negotiations? >> the idea that the union wants to share in the company success when they bore some much of the burden when the companies were really having a hard time in 2007. none of the companies, if you think about the difference in the financial health of the companies now compared to 2007. far from being on the edge of bankruptcy, these are companies that are seeing record profits. billions and bill ions of profits. we were your partners then and we saved the industry and we are entitled to a share of the success. if you think about what the union is asking for in the negotiations is really the spirit of that demand to share

in the success that explains a lot about what the union is asking for here. >> right. from the big three automakers, we have seen offer of double digit pay raises. the union wants more. another big thing we need to talk about is the future of evs. some concern that evs have less parts which means less jobs. that is a sticking point in the deal. it is a theme across the board with labor in america. automation a.i. and how it impacts workers. talk about the labor movement in america and innovation. how do the two do together? >> collective bargaining is the most important way the workers can have a voice in the future of the industries and companies they work. this strike will resonate with the public and even people who never thought about working in an auto plant because a lot of

people because of a.i. and other technology changes and climate change are looking at their jobs differently. they know things are going to be changing in the future and they want to be part of that change. they want it to happen with them, not to them. that's what the uaw is saying here. they are not saying we don't want to move to evs. they are not saying we want to stop this. they want to say we want a say in how this happens so it happens fairly and the impact of those changes is done in a way that doesn't put their interests on the sideline. collective bargaining is the only way for workers to be protected and demanding that kind of seat at the table as many sectors transform. >> sharon block from harvard university. great to have you here on a historic day. thank you. catch general motors ceo mary

barra on "squawk box" with phil lebeau. that's coming up. turning now to your big money movers and biggest stock story of the week. official public trading debut of a.r.m. stock set to continue the stellar start after closing up 25% in the first day of trading. looking at shares up 9%. arjun kharpal is here with more. arjun, good morning. >> good morning, frank. the rally is set to continue. shares in the pre-market are up nearly 9%. $69 apiece. softbank and a.r.m. priced at $59 a piece. you see this rally would value the company at $74 billion. higher than what it came to market with. we knew the demand was high. you had big names and strategic

investors in this one. apple and nvidia getting involved as well with. if you look at the valuation, it is trading at 110 times according to the recent foiscal year. that is above nvidia. people are looking at the two very different companies and saying how is a.r.m. valued at this level when it is facing slowing growth in the core market of the smartphone chips and consumer electronics? a.r.m. is -- nvidia is projecting -- excuse me, massive growth in the next coming quarters. that is key for investors. key for a.r.m. is how does it execute? the company spoken about the fact it thinks it will be a big player in the a.i. space in new areas like cloud computing and data centers and automotive as

well. how do they execute to show the company which saw revenues decline last fiscal year and return to growth? that is key here. they need to show the market here that they have a plan and they are able to execute it and that growth will be in the double digits for the next quarters, frank. >> big debut for a.r.m., but we are seeing 75% of ipos debuted in the last year were below the listing price. what is all this action tell us about the possible upcoming ipo for instacart? >> there seems to be a little bit of excitement right now with the ipo market driven by the a.r.m. listing. a report out of the wall street journal suggesting instacart looking to raise the pricing for its ipo. initially it would price between $26 to $28 a share. the report is it this could be $28 to $38 a share.

try to take advantage around the fervor at the ipo market. it this is an interesting company. it is in the grocery delivery business. it is profitable which is something they are looking for which tech companies are coming to market. it is facing a number of headwinds. its core business of delivery is slowing down. it is a very different proposition to a.r.m. a.r.m. in the semiconductor space where there is a lot of investor excitement. this is in the consumer space in the dpgrocery delivery space whh is competitive in the u.s. and uk. it is interesting when it starts trading, frank. >> arjum, thank you. coming up on "worldwide exchange," apparenl responding

worries over the safety of one iphone model. we will have details when "worldwide exchange" returns.

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shares up 1% in the pre-market. piper sandler upgrading keycorp to overweight. the problems ware moving in the rearview. the regional bank up 1.5% right now. luke capital over cava with the hold raiding. it is confident the restaurant can reach the goal of 1,000 locations in the u.s. by 2032. shares up fractionally right now. it is time now for the global briefing. china central bank cutting interest rates on short-term loans and injecting $5 billion of liquidity into the financial system. it is the first time the bank has taken such steps since january. this is one day after china says it plans to lower the amount of cash banks need to set aside as

reserves. we are also watching shares of novartis and whether the spinoff the generics business to a separate company for a $25 billion valuation. if this is approved, the spinoff which is backed by the board of directors would follow moves by pfizer who sold off patent medication divisions to focus on higher value treatments. apple set to issue an update for the iphone 12 in france to treat radiation risks linked to the iphone 12. apple told staff members to avoid volunteering information to members. coming up here on "worldwide exchange," we have theone word that every investor needs to know today and why our next guest says the dramatic drop could be looming for the final

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welcome back. time for the wex wrap-up. door dash will transfer to the nasdaq later this month. the move could mark a blow to the big board which is trying to secure more high profile listings. taiwan semi is asking suppliers to delay delivery to high end equipment. a number of chip names moving lower on the news. tesla is speaking with potential investors for a bond deal back ed by leases. it would be the largest offer for the ev giant. shares of adobe edging lower over the top dping guidance.

it continues to invest heavily in a.i. applications. shares down 2.25%. byron allen is bidding for disney assets to the tune of $10 billion. the bloomberg report follows earlier news that disney held talks to sell abc assets to nexstar media. and the talks are set to resume next week for the writers and actors. the two sides were last at the negotiating table a month ago. here is data on import prices and consumer sentiment on deck today at 8:30 a.m. eastern today. we have triple witch wiing hour afternoon 3:00 p.m. with stock index options all expire. and then the iphone 15 models will be available for pre-order if you need a new phone.

triple witching day linkely to cause volatility. options showing $3.4 trillion set to expire today. the largest amount set to expire in september ever. this means high proportion of interest options and investors should expect a little market choppiness today. let's bring in malcolm ethridge. >> good to see you. >> triple witching day. so much trading now. do you expect it to create choppiness? >> i don't know i would expect cr choppiness on its own. it is baked in. with the a.r.m. ipo making noise and next week with instainstaca the buying pressure to cause an

issue with instacart next week. >> what is the wex word of the day here? >> my word of the day is suspicious of the market. it doesn't make sense that as resilient as it has been in the face of strong warning signals, stronger warning signs for witching day i should say. this is a big deal to me. i think we are whistling past it as if it hasn't perfectly predicted every recession the last ten times. >> there is inversion, but it has narrowed in the last couple weeks. inversion is the signal, not the width of it. on the other side, investors are willing to invest in the rfisky asset is with the a.r.m. i po. higher than nvidia without the

sales growth. what does that tell you about today after we see a strong response to the ipo yesterday and the stock being up 8% in pre-market now? >> i think nvidia has done the heavy lifting on behalf of a.r.m. timing could not have been better considering nvidia got us excited about how much revenue or wealth was going to be created by the a.i. boom over the next decade. i think riding on the coattails of what nvidia laid has made a.r.m. come out to fanfare. >> your pick is sofi. related to student loan repayments starting back up in october. how does that help the case for sofi? >> if you just consider that student loan payments were frozen three years ago and sofi was the bread and butter with

those student loans. they diversified and they feel there is a lot of pent-up demand for refinancing coming. if we hear increase in died an -- guidance, i think that would be a bullish sign for sofi shareholders like myself that the theory they have been working from might actually have legs. >> you are willing to buy into sofi today. nasdaq futures are under a bit of pressure from a warning from tsmc. what do you see from nasdaq? does the a.r.m. move it higher or do the chips drag it down? >> i think the a.r.m. ipo will gloss over any other bad news that typical nasdaq investors names and those who invest in the qqqs will move past bad news and look at the a.r.m. ipo as

ammunition to say it is time to stay a bull. >> malcolm, great to see you. thank you. that will do it for us. we have "squawk box" coming up next. you have a great weekend as well. to address operations issues? we can help with that. can we provide health care virtually anywhere? we can help with that, too. is it possible to survey foot traffic across all of our locations? yeah! absolutely. with the advanced connectivity and intelligence of global secure networking from comcast business. it's not just possible. it's happening. the power goes out and we still have wifi to do our homework. and that's a good thing? great in my book! who are you? no power? no problem. introducing storm-ready wifi. now you can stay reliably connected through power outages with unlimited cellular data and up to 4 hours of battery back-up

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good morning. the auto worker contract deadline has passed now with no deal and targeted strikes have already begun. we take you live to detroit this hour and later, we have gm ceo mary barra joining us live. it was good for a.r.m. holdings rising on the first day of trading after the strong performance now of a.r.m. with instacart is expected to raise its ipo tar get.

>> door dash jumping from new york stock exchange to nasdaq. it is friday, september 15th, 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 with joe kernen and andrew ross sorkin. it is friday. we made it to the end of the week. you will take a look at the u.s. equities and how sthey are shoring up. this comes after the dow's best day. s&p futures up 4. nasdaq indicated off 13 points. we are talking about all three being up for the week to