it is 5:00 a.m. here at cnbc global headquarters. here is your "five@5." going for five. stocks looking to continue the win streak as surge of rates takes a break. the key for investors today is the september inflation report and what it means for the fed's next move. in washington, house republicans nominating the next speaker in a closed-door vote, but hurdles remain for the entire party. birkenstock flop in the ipo debut. and uaw strikes moving

forward and this time at the most profitable u.s. factory. it is thursday, october 12th, 2023. you are watching "worldwide exchange" here on cnbc. good morning. welcome to "worldwide exchange." i'm frank holland. let's start off the hour with the check of u.s. stock futures. you see here in the green across the board. the dow would open up 100 points higher. as always, we say it's early. dow and s&p and nasdaq riding a fo four-day win streak and helping to drive the gains is big tech. meta at a 22-month high. up more than 9% since the first alphabet sitting at the 18-month high. that is up 8%.

nvidia and tesla and apple up this month. apple up 5.3%. shaking off the pressure that we saw the stock under in recent weeks. all this could change as soon as today as investors await the cpi september report. economists are expecting prices to rise 3.6% year over year. a decline from last month. excluding food and energy, core cpi, economists are expecting a 4.3% gain year on year which is slightly down intlast month. and now we look at the bond market. the ten-year is down to 4.54%. similar for the 30-year bond down 25 basis points as well. remember, this is important. it is a read on investor confidence and inflation expectation. we want to look here now at the energy market with wti.

it is sitting at $84.08 a barrel. brent crude at $86.05. and here is natural gas up 1%. let's get a check on the top corporate stories with silvana henao. >> good morning. talks with the hollywood studios and the actors are officially suspended. this after the union presented its most recent proposal on wednesday with the alliance of the television and motion pictures says would cost more than $800 million a year and create an untenable economic burden. actors walked off the job on august 14th and demanding residual pay from streaming and resdtrictions on the use of a.i and in the auto workers,

8,700 union workers walked off the plant in kentucky, which is one of ford's largest plants. they h they produce the super duty pickup trucks. ford is calling this irresponsible. watching shares of birkenstock ahead of the open. the stock is down about .50%. birkenstock making the debut on the new york stock exchange at $41 a share before falling 12% on the day. the stock's opening price was lower than the initial ipo of $46 a share which was in the middle of the range, frank. >> it has been a difficult time for the ipos. it is curious. a lot of excitement. >> today is another day. we will see.

>> silvana, see you later on. thank you. turning attention now back to the broader markets. it was one year ago today that the s&p bottomed out closing at 3,577. since then, it has been off to the races bouncing 22%. the gains as noted by bob pisani is looking at the haves and have-nots. the biggest holding in the vanguard with apple and amazon and tesla and nvidia with the s&p is up 11% in the last 12 months. let's discuss this with kevin caron with washington crossing advisers and lee baker. gentlemen, great to have you here. good morning. >> good morning. >> good to be here. >> kevin, i'll start off with you. the desisparity with the mega c

tech names and the market. are you still putting money to work in q4? >> we haven't. if you look at the chart and you will notice since july, the mega caps and average company have moved sideways together. and year to date, the average company, as you pointed out, is flat to down. this has been a year that has rewarded mega caps and s&p 500 and the way it is weighted and putting more weight on the larger companies which is more concentrated and less diversified. it is more difficult for many managers to keep up with the benchmark. the flip side of it is when you get that concentration, you tend to have more risk. for us, we're going to stick with a more level weighting scheme and try to manage the risk with greater diversity. >> lee, are you more willing to

put money to work, especially as we see bond yields ease back? i mentioned the ten-year bond down 25 basis points from its high. >> frankly, i'm in the same camp as kevin near term. we are not looking to add on risk at this time. we are looking at drier powder. clients would rather take a chance with 5% and be boring than add to the equity position. >> we were talking about bouncing off the october low of last year. actually, funds rate was out with a note a couple days ago. this week's advance is 4,336 and has done so on an expansive breath. in this case, they are talking about october 3rd.

lee, do you agree with we had a bounce off a low and we are set up for a possible rout? >> a rally is possible. i just wouldn't bet on it long term. i know this is october. i think we have a witch's brew of things going on. there is a lot more that can go wrong than right. i get it from the technical perspective. i would not bet on it. >> kevin, is 4,336 an area of support for the markets right now? >> that's one way to look at it short-term. there are a couple of of good things happening. the economy is stronger. bond yields have peaked for the midterm. you have inflation data coming out later today. we expect as the money supply comes in that inflation softens as the opposite held true a couple of years ago. the only place that is a sticking point is the equity

risk premium. that has become narrow and that could cause something of a headwind to stocks because they are competing against higher yielding bonds for the first time since we have been publishing long-term capital expectations in value. >> kevin, you mentioned cpi. what are your expectations for cpi? >> softer. the trend has been down. it shouldn't come as a surprise unless you get some wildly out of line print. i think the main take away is the thrust of upward rates is moving lower. that should be positive for bond and stock investors who are now going to have a better sense of valuations. >> lee, same question. what do you expect from the cpi today? >> i expect to see 3%-ish cpi

print unless something is widely different from that number. it will be a ho-hum. >> futures in the green right now. we will wait and see. gentlemen, thank you very much for your time. we have more to come here on "worldwide exchange," including the one word that investors have to know today. first, the war with israel and enters its sixth day as antony blinkehes t iv.n adtoel we have a very busy hour still ahead when "worldwide exchange" returns. stay with us. dence. no wonder more than 9 out of 10 of our clients are likely to recommend us. ameriprise financial. advice worth talking about.

with gold bond... you can age on your own terms. retinol overnight means... the smoothing benefits of retinol. are now for your whole body. plus, fast-working crepe corrector diminishes wrinkled skin in just two days. gold bond. champion your skin. the power goes out and we still have wifi diminishes wrinkled skin 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 to keep you online. only from xfinity. home of the xfinity 10g network.

welcome back. u.s. futures in the green. the dow would up up almost 100 points higher. let's see how europe is trading as its day gets under way with arabile gumede in the london newsroom. good morning. >> good morning, frank. we are taking a look at the asian counter. everything has moved up in positive unison here. especially the hang seng which is 2% to the good. that does come after the hong kong listed shares of chinese banks which moved higher.

the sovereign wealth fund in china sin is increasing the stan the banks. icbc, the construction bank of china is moving higher. that is pushing up the hang seng and that is pushing to the shanghai with 1% to the good. over in europe, we are marking how things are going to fare in the ipo market. oil and gas market having been one to look out for here and it is at the top of the pop with the stocks gaining across the counters today. including basic resources. telecoms dipping down. only smi is a laggard in this respect. look at the ftse 100 which is up .80%. it comes off the dpgdp numbers r

august. avoiding recession having r revised downward for the month before with that growth print from 0.5% to 0.6% decline. managing a 0.2% growth figure for the month of august. some positivity across the board when it comes to the market, frank. >> we can always use positivity. arabile, thank you very much. arabile gumede in the london newsroom. we turn to the developing story. the war with israel and hamas now in its sixth day. prime minister benjamin netanyahu forming an emergency war time government to oversee the response to hamas and possible ground assault. the number of americans currently held hostage or killed in the fighting could rise in the days ahead. also this morning, secretary of state antony blinken is in tel

aviv and will speak with benjamin netanyahu today. we have kelly cobiella with more on the story. kelly, over to you. >> reporter: good morning, frank. israeli fighter jets targeted 450 sites insiside gaza there. a pounding there as they went after hamas elite forces according to the idf. they hit command centers used by operatives who took part in the attack on israel. they say they also hit a senior hamas naval operative overnight. israeli defense forces spokesperson saying the strikes were going to continue and they were going to intensify and scenes from gaza will be difficult to understand and cope with over the days moving forward here. we already have seen just some really difficult images coming from gaza with many, many children wounded at hospitals.

hospitals are overreturnun ther. there are issues of fuel issues at the hospitals in gaza. efforts are underway to open an humanitarian corridor according to the u.s. spokesperson. talking to egypt and israel and the u.s. no progress so far. no action. civilians in gaza still trapped with no way out. here in israel, secretary of state antony blinken is due today. he will have a series of meetings in israel. he will talk about the situation with the hostages. we know there are americans among the hostages. we don't know how many. the white house hasn't specified that. they only have said it is a small number, but that could change. the president was actually pressed on that issue of hostages yesterday.

he said that there's a lot that we're doing to bring them home. he hadn't given up hope. frank. >> kelly, we know the u.s. has not confirmed the involvement in the strikes. the white house is now considering taking action against iran? >> reporter: yes, there are reports from outlets saying the white house is considering freezing that $6 billion of fuel money. money used to buy oil from iran by north korea. that money was part of the hostage exchange and the u.s. potentially considering freezing that money now because of domestic politics and because of the pressure in the u.s. on the president to explain whether or not that money could potentially go to iran and then fund hamas. we know that iran has been a long-time supporter of hamas.

again, no direct connection made between iran and these attacks. the link being made is simply the financial support that iran gives or allegedly gives to hamas. that $6 billion is being held by the qataris. it is controlled by the qataris. as part of the deal, they were to decide what money was spent and how it was spent on humanitarian needs. frank. >> kelly cobiella live in tel aviv on the ground. kelly, thank you very much. be safe. coming up here on "worldwide exchange," our special 5% rate week rolls on. we speak with the ceo of cnbc disruptor on what growing and spending is like as borrowing surged to the highest in de decades. we are back with more "worldwide exchange" after this.

♪ is it possible to fall in love with your home... ...before you even step inside? ♪ discover the magnolia home james hardie collection. available now in siding colors, styles and textures. curated by joanna gaines. (aidyl) hi, i'm aidyl, and i lost 90 pounds on golo. styles and textures. i struggled with weight loss and weight gain my entire life. with all the yo-yo dieting i did in the past, i would lose 20, 30, 50 pounds

just to gain them over and over again. thanks to golo, i've been able to steadily go down the sizes in my closet and keep the weight off. for the first time in forever, i feel in control. (announcer) change your life at golo.com. that's golo.com. welcome back. despite rising rates and fear of recession, the state of software is showing no signs of slowing down. the global market for soft while will grow $1.35 billion. one company taking advantage is the braze thanks in large part to artificial intelligence. a.i. is a hot topicing for braze. executives mentioned it 25 times in the latest conference call.

joining me now to discuss is demand and a.i. and operating in the ehigher for longer environment is bill madison. >> thank you for having me. >> how does this impact your operations and demand from customers? >> i think there is a demand for faster payback and more impact to the bottom line. the other key thing we are seeing is people focusing on retention and the entire customer life cycle. a lot of businesses had leaky buckets. they bring new users in and lose at higher rates. they were overwhelming that by accessing higher business pespe. you are going back and revisiting the leaky bucket and figuring out how to plug the holes.

when you bring in a new customer, you make a good first impression and turn it into a long lasting relationship. braze is focused on the full customer relationship and in the environment like this where you step back and look at the life cycle which has been positive. >> you are working on monetizing a.i. do you scale up the business? i anssume you have to spend on data centers. in the higher rate environment, how do you balance the books for a company like yours which is not profitable? >> large aspect of this is the large investment that we put into the lifetime is one that is focused on a.i. and investment. we are continuing that investment from the infrastructure stand point with the cost of running the a.i.

models. the first cost is the fixed cost that goes into designing campaigns and canvas which goes through the life cycle. when you work through an idea and customers and imagery, those get generated once and we send them out billions of times. the class doesn't matter as much as the customer journey. the latter is where we look to monetize that. >> for clarity, your products used for marketers to engage customers. i want to talk about guidance. you raised guidance last quarter. the street adjusted to the guidance. before you were still a loss in all fairness, you are operating at a loss, but guidance is higher than the street. what gave you the confidence to raise guidance? was it a.i. demand or some other trend we are not hearing about? we hear about the software market being under pressure?

>> in addition to braze operating rapid time to value which i mention in the rates environment is a priority and the second is technology consolidation. a.i. and rates have a role. we have a lot of cfos and cios looking at lowering cost of ownership. in part, that means taking the software landscape which is the silo approach with communicate cau -- communications with customers. we can help consolidate that. the other side with a.i. is if you are going to really have machine learning drive optimization, you need a higher level purview. if you are kplun communicating, cannot benefit from having a consolidated perspective. >> bill, great to have you here on "worldwide exchange." bill, thank you for your time. >> thank you.

straight ahead, how disney is putting the squeeze on consumers at the spending limit. negative 11.9%. that is the latest credit card data on spending from the first week of october which is down 12% compared with the last week of september. credit card spending declined 11% month to month in september. we have more "worldwide exchange" coming up after this. (sfx: stone wheel crafting) ♪ the biggest ideas inspire new ones. 30 years ago, state street created an etf that inspired the world to invest differently. it still does. what can you do with spy? ♪

it is 5:30 a.m. in the new york city area. there is more ahead on "worldwide exchange." a busy day on tap for investors looking for the latest on inflation and comments from several fed chiefs. republicans tapping congress member steve scalise to be the next house speaker. is his path to that position in flux? we have navigating a 5% world as we layout the challenges of growing the company in a world of high are for longer. it is thursday, october 12th, 2023. you are watching "worldwide exchange" on cnbc. welcome back to "worldwide exchange." i'm frank holland. let's start your day with the

half hour check on u.s. stock futures. you are seeing green across the board. it looks like the dow would open up 100 points higher. again, it is early. investors are gearing up for the big cpi report later this morning which is expected to show 3.6% year over year prices which is a decline from the previous month. now we also look at yields with the ten-year yield at 5.74. also looking at the two-year note at 5%. something we will continue to watch. we want to look at the energy market. wti is the benchmark trading at t $84.35 a barrel. crude is up 1.1% at $86.94.

a looking at gold which support .30%. it was down over the last month, but investors have turned to the safe haven assets with the war in israel. and gold is limited and up 21% week to date. you see harmony gold up over 19%. newmont up 4%. you see here with gains on the week for the gold minors. let's now get a check of the top corporate stories with silvana henao. silvana. >> frank, i'm back. caroline ellison is due back on the stand after offering up more testimony on the collapse of ftx. ellison blaming sam bankman-fried for corrupting her values and creating justifications so she could do things she now says were wrong

and illegal. ellison became emotional at times during the testimony said the collapse of ftx resulted in a relief i didn't have to lie any more. microsoft revealing it received a notice from the irs that it owes nearly $29 billion in back taxes. in a regulatory filing, the tech giant says the issue stems from profits between countries and jurisdictions between 2004 and 2013. $10 billion in taxes it already paid and not reflected in the irs figure and it plans to fight the notice. disney open efffficially ra prices on the disney plus plan today. the cost jumping from $10.99 to $13.99 a month. disney raising the cost of hulu ad free plan by $3 to $17.99.

frank, it is getting expensive to watch tv. >> it is. now streaming channels are all raises prices makes we want to stay with cable. silvana, thank you. now turning to capitol hill and the story with steve scalise being voted in the closed-door meeting last night for house speaker. emily wilkins has more on the story. emily, good morning. >> reporter: good morning, frank. steve scalise won the house republican nomination for speaker yesterday. there was applause in the room. for a moment, everyone was happy. then you heard hold-outs come out and say they could not back scalise and they wanted jim jordan o

jordan or others. during the ballot, the house republicans got 113 votes for scalise compared to jordan's 99 votes. 113 is the majority of house republicans, but it is well short of the 217 that is currently needed to win the speaker's gavel. scalise can only lose support of five republicans. a dozen said they will not support scalise or still vote for jordan. jordan has been trying to get his supporters to unite around scalise so the house can get back to work. >> it is important we are functioning as a house of representatives and we need a speaker. steve heis the guy for. that of i've offered to give the speech for him. >> reporter: concerns about scalise are wide ranging. lauren boebert says he is the

continuation of the status quo. mean meanwhile, right now, no member has a path to get to the needed number of 217 under house rules. nothing can be done on israel or progress on the funding of the government ahead of the november 17th deadline. frank, doing is now facing a consideration of what with ll happen and how they avoid the shutdown. >> emily, you mentioned a small group of holdouts. what can satisfy them and get the process moving forward? >> reporter: it is difficult because all of them have come forward with different concerns at this point. these wider appeals to unity and needing to get everyone back on track and needing the house to be functional do not seem to be resounding. remember, the reason we are in the situation is not because

most republicans were unhappy with kevin mccarthy and oust him, but it was a small number. only eight which led to the current situation. a lot of folks want mccarthy there. this is the difficulty of governing when the majority has a small margin to work. it really only takes a small handful of folks saying we don't want to move forward to stop everything. there is no sense we will see votes today. there is a lot of questioning the next couple days. >> emily wilkins, thank you. now turning to the special of higher rates for the economy and your money and the markets. we are diving into the companies with borrowing costs. joining me now is robert faulk. robert, good morning. great to have you back on the

show. >> good morning. pleasure to be back. >> let's talk about your company. you are in the process of trying to scale up and grow. give us a sense with rates moving to the highest levels in year, how does that impact your ability to not only grow or manufacture your flagship vehicle which is an electronic autonomous truck? >> that is a huge impact. we are still seeing customer engagement and a lot of people want to make the transition happen to electric and autonomous. the customers are still in investing in the future and want to work with the partner to provide services like we do. of course, we have to adopt to this and that impacts our growth plans. we have to re-prioritize ma markets. we have to adopt to different markets. >> you say a different tempo.

when the cost of capital raises -- do you mean it slows you down and be more strategic? >> exactly. two years ago, you took in a deal and now you have to look at the margins and find the right setups and each customer i insta installations. we have to prioritize other markets. of course, we need to set the right tempo where the underlining profitability of each client is important. >> you are still a private company at least for now. how is that impacting your ability to raise money? you raised $5$500 million last time around. has this changed your thoughts about going public? >> it is a tough environment out there. investors are finding out new

things to ask like underlining margins and profitability and how you can have a staple growth and long-term profitability. for us, that is something we are comfortable with as every contract is signed. we try to do it with a positive margin. this has a huge impact in how we assess each business. >> we are showing customers which include pepsi and ab-inbev. when they are talking about investing in solutions using your company, what are they telling you about the cap x they have and the operating expenses? >> that is one of the strengths from our business offer which is they don't require cap x. they are buying a service from us. that means the transition becomes smoother for them. the cap x challenge comes on our

side. we work with part ners like barclays to help do the debt structure which is required for operating. we don't see any slowdown in the customer engagement. what we see is a lot of people want to see the technology and autonomous and electric is the future. they are happy to work with us to make that happen. >> robert falck, thank you very much. >> thank you. coming up on "worldwide exchange," new data shedding light on the health of the consumer. as we head to break, we have top trending stories. taylor swift box office reign set to start early. the "eras" movie is offering one day early access in u.s. and canada throughout the weekend due to demand. dominos saving the day one slice ast a time.

giving away free emergency pizza from a burnt dinner to a power ou outages. customers have to use the app and domino rewards to take advantage of the deal. a single ticket holder from california winning the estimated $1.77 billion powerball jackpot last night. the second largest lottery jackpot on record. behind the record of $2 billion last number. "worldwide exchange" is back in a moment. stay with us. we love going to games, but good seats get pricey. so we use gametime.

gametime checks ticket prices in real-time and finds you all the best last minute deals. we got our seats twenty minutes ago for sixty percent off! last minute tickets at the best price, in seconds. download gametime now! icy hot. ice works fast. ♪♪ heat makes it last. feel the power of contrast therapy. ♪♪ so you can rise from pain. icy hot.

welcome back to "worldwide exchange." time for the morning call sheet. we start with barclays raising the rate on first solar. this offers an attractive entry for the market. shares up 3.5% in the pre-market. and clorox's struggles with the fallout of the company and ab bernstein with shares up .30% and wells fargo gives amgen up .50%. time for the global

briefing. goldman sachs suing malaysia over the payments over the bank's role in the 1mbd corruption scandal. they are in disagreement over paying to settle the criminal probe. shares of china's four biggest banks rising after the wealth fund invested $73 million in the names. the first purchase in eight ye years. the sovereign fund will continue to add stakes in the next six months. looking at shares of banks, as we said, moving higher. and the price of oil is moving high irrelevant. international energy agency said in the latest report that oil markets will remain on tender hooks as the israel-hamas war unfolds. the iaea adding it is focusing

on the oil flows as the events develop. ahead on "worldwide exchange," the one word you need to know today. victoria green says markets are facing a huge wall of worry. if you haven't already, follow our podcast. if you miss "worldwide exchange" check us out on spot ifify or ae or other podcast apps. we're back after this. ai has the power to automate,

but if it's using untrusted data can you trust the results? your business doesn't just need ai, it needs the right ai for your business. introducing watsonx a platform designed to multiply output by tailoring ai to your needs. when you watsonx your business, you can train, tune and deploy ai, all with your trusted data. let's create the right ai for your business with watsonx. ibm. let's create. ♪ ♪ every day, businesses everywhere are asking: is it possible? with comcast business... it is. is it possible to help keep our online platform safe from cyberthreats? absolutely. can we provide health care virtually anywhere? we can help with that. is it possible to use predictive monitoring to address operations issues? we can help with that, too. with the advanced connectivity and intelligence of global secure networking from comcast business. it's not just possible. it's happening.

welcome back to "worldwide exchange." time for the wex wrap up. the hollywood studios and actors union suspending negotiations after the union presented the recent proposal yesterday which studios say would cause an economic burden. thousands of vegas workers are set to picket in front of mgm and caesars as they weigh a

strike. 95% of members voted for a walkout. and uaw members walking off the job at the ford plant in kentucky yesterday. a move that ford says is irresp irresponsible. and open a.i. revealing updates including the addition of memory storage for developers next month making it cheaper to build applications and a.i. models. netflix is set to go through restructure including layoffs and cuts of two films in pre-production. the company is looking to recruit outside producers to keep up with the animated content. shares of birkenstock this morning up .75%. the stock closing down 12% yesterday after making the public market debut on the new york stock exchange. we have a market flash for you this morning on illumina.

ordering to sell grail. grail must be kept separate until it is sold. looking at shares of illumina which are flat in the u.s. here is what we are watching today. jobless claims and the latest read on cpi ahead of the open. we get earnings from delta, walgreenss and dominos. we have fed speak from bostic and collins. we have comments providing fuel for investors today. ahead of the cpi report, we have the latest mastercard spending pulse. that data showing restaurants sales up last month with retail sales jumping 7%. grocery is the top online performers. digging deeper, auto parts seeing growth and home related sectors like furniture pulled back due to elevated interest

rates. for more on this, let's bring in victoria green. grace to have you here. >> thanks, frank. >> i want to touch on the mastercard spending pulse. it states consumers are still willing to spend on airline tickets and going out to eat. what does it tell you about the consumer which is stretched? >> i do think they are stretched. everybody wants to have fun. we still have ptsd from the pandemic era. you have student loans coming back on which the fed flagged as a potential risk. you have to pay your rent. everybody wants to go out to eat and spend on services. some of that is costing more. it is spending going up, not because we are getting more goods, but inflation is pressuring with higher gas p prices and food. >> the dow will open up 100 points higher right now.

the market is on a bit of a winning streak. we had the cpi report coming out today. do you expect that to be a market mover? >> absolutely. cpi is a market mover, especially in the bond market as well as equities. when you look at ppi coming in hot yesterday and we are looking for 3.3% month to month, but they will be sticky. some are putting it at 3.4%. you will have problems there. that is a 3.6% annual rate which is still to high. i'm worried it will come in high. that was a shocking number yesterday. >> with that worry in mind, what is the wex word? >> the wex word epoch. the fed acknowledging they have to acknowledge risk.

everybody is talking to talk about peak rates. i think we have moved into the epoch into a fed pause. >> i'm assuming you think a fed pause would give a boost to the markets? >> it should. it should last ten months before the cut. you will see a lift. you see a pause rally. technicals are supportive of the market. 200-moving day average. the market has absolutely ignored macro and geopolitical risk the last two years. this is a tragic period we're in right now and the market has shown resilience and ability to climb the wall of worry. we think it could trally out yer end. >> a year ago today, the markets hit 3577. we bounced off the sa&p since

then. this week managed to advance august lows at 4336 and has done so on an expansion of breadth. the lows for october were made last tuesday and in this case, referencing october 3rd. if it is not a big rally, we will move upside? >> we could. i will point out october does not have a good reputation. there have been horrible events in october which derailed market rallies. it could rally back to the 4,600. they have a 4,800 target. you have people out there who see legs to the market. >> we are talking jpmorgan chase and united health out tomorrow with earnings. >> who doesn't like jpmorgan chase? i see what they have done with first republican is supposed to add to the balance sheet.

jamie dimon is a fantastic ceo. hands down jpmorgan chase. united health with q3 being good for them. they provide the 2024 guidance. and that last eight q3s, they outperformed. i luook at united health. i love optum. they have great positionsing in the private sector. of all of the managed care options, they are strong. >> something to watch. victoria greene's pick. great to have you here. >> thank you. one quick look at futures. they have been in the green all morning long. they opened up 20 points higher. that will do it for us here on "worldwide exchange." you have "squawk box" coming up next. thank you for watching.

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 to keep you online. only from xfinity. home of the xfinity 10g network. 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 to keep you online. only from xfinity. home of the xfinity 10g network.

good morning. secretary of state blinken arriving in tel aviv this morning. we will bring you the latest. the uaw shutting down the ford kentucky truck plant. the surprise escalation of the auto workers strike. the company's most profitable operation. and house republicans nominated steve scalise to be the next speaker, but pushed back the vote to give him time to drum up support. it is thursday, october 12th, 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 andrew ross sorkin. joe is off today. we have seen four days in a row of gains for the equities. dow futures indicated up triple digits. a gain of 122 right now. s&p futures up 16. the nasdaq up by 63. yesterday, the nasdaq composite closed above the 50-day moving average for the first time since september 14th. treasury yields have come down slightly this morning. if you are looking at things, it looks like the ten-year is yielding 4.57%. the