it is 5:00 a.m. here on cnbc global headquarters. we have your "five@5." the s&p 500 does something for the first time this year. and big tech results. we tee up the numbers you should watch for with alphabet and microsoft. also on capitol hill, republicans at it again. set for a closed-door vote on the next house speaker. eight candidates on the ballot. we have a live report in a

moment. plus, one month and $110 billions in deals. we look at the targets on the table. and fresh bullish sentiment sending bitcoin to 2023 highs. it is tuesday, october 24th, 2023. you are watching "worldwide exchange" here on cnbc. good morning. welcome to "worldwide exchange." i'm frank holland. we kickoff your tuesday with the stock futures after the mixed day yesterday. the s&p closed down for the fifth session in a row. look at the board. green across the board. the dow would open up 100 points higher. however, the futures are off the highs from the early this morning. they may be higher right now, but small caps are not as we continue to watch the russell 2000 trading at a fresh 52-week

low. look right here. you see it is down almost 5.5% this year so far. you see the slide accelerating in the last couple months just right now. we want to look at the bond market. that was the big story yesterday. sharp reversal in yields in the last 24 hours as the ten-year bond pulls back from 5%. this morning, 4.82%. a 20-basis point slide to the down side. sharp move to the down side right there as you can see. we want to look at the energy sector coming off the $50 billion chevron-hess deal. wti is $85.65 a barrel. brent crude up .25%. we are watching bitcoin. bitcoin partying like it is july. above $30,000.

$34,070. up 9% this morning. sharp move to the upside. the price of bitcoin has doubled so far this year up 105%. much more on this big move to the upside when it comes to cryptocurrency coming up later in the show. we will turn attention back to stocks and the rate shocks ripple effect across portfolios all over wall street. yields may take a breather this morning. "fast money" reports a bit stop on the way to 5.5%. >> the highest point in the yield curve is six-month bills at 5.5%. if we invert the yield curve and we are destined to do that and it has to go to 5.5%. the fed has said they are higher for longer. >> joining me now is chief global strategist jay woods and

joanna gallegos. >> i think it is hard to predict rates for anything who will try to have a hard time doing that. the important point is that fixed income and yields have been sky rocketed since the fed started raising rates and we know it will be higher for longer. how should investors think about this right now? if you are concerned and you want to dampen risk in the portfolio, we have been talking all through 2023 as you need to switch the portfolio to fixed income and getting better exposure and taking advantage of these yields. there is a silver lining to this and that is yields are at historic highs and there is a great and interesting barbell. you can wait it out and get paid in cash as jim mentioned in the short-term treasury market. we're advocating people move

further out and reduce duriatio. you are getting paid for risk in the way you haven't been. >> joanna will not try to forecast where the ten-year yield is headed, but you are moving beyond that? >> over the longer term time frame, it is where we are moving. the reversal yesterday was very telling. i think rates should come down for the foreseeable future. as far as rates go, they have been driving this bus. i think they have come too far ahead over their skis. i think we will get a cooloff wh which is good for equities. >> i want to talk about tweets we have from notable investors. one from bill gross. on bonds, invest in the curve. it should go positive before

year end. i'm buying sofr futures. higher for longer is yesterday's mantra. then from bill ackman. he said we covered our bond short. there is too much risk in the world. the economy is slowing faster than recent data suggests. jay, i'll start with you. what is your take on these tweets from notable investors with the focus on the rise in yields? >> i think they're on to something. the higher for longer narrative, i don't think that is something that will go away any time soon. i think with the bond market, we may have put in a near-term bond and get a really here. those tweets were spot on. when those two guys speak, you listen. >> ef hutton effect. >> no doubt.

>> joanna, you were saying something similar to bill gross. invest in the curve. agree with that way to play it? >> exactly. i think if you look at 2023, the curve itself has been more volatile than other areas of fixed income. investing in the curve on the long side or volatility of long treasuries have been, you know, almost as close as to the volatility of equities. we advocate get out of any duration risk in the portfolio. look for a good, quality credit. we really like the ccc category. it is yielding over 14%. it has lower volatility in the s&p. if you expect weakness in the economy or thinking that rates will reverse, it is a matter of how fast they reverse and coming down from levels like 14% or even in ccc or high yield, we really think people should be considering these spaces. it is the best kept secret in

fixed income. low interest rate risk across the board. reversal of rates is probably going to take time. for 2024, you still need to think about fixed income areas. >> joanna is focussed on the best kept seche is secret. >> i think the secrets will be revealed this week. jim cramer tweeted this is the playoffs for the market. this earnings hseason will be telling. you had katie stockton with the great preview on the show yesterday. this is what is going to move the equity market. 14% of the s&p 500 is consistent of google and microsoft and amazon and meta which report this week. this, to me, is the tell. i think earnings are there. watch the russell. the russell has been beaten down because rates are spike so high. they are coming to a nice floor. if you back it out, we're at a

major support area. i think we will get a bit of a relief rally here and the mega caps kick it off. >> russell down 5.5%. jay and joanna, thank you. >> thank you. we turn attention to washington, d.c. and capitol hill. house republicans trying to rally again to find a speaker with the vote set for later this morning. we have eight candidates likely on the ballot. we have brie jackson with more from d.c. >> reporter: good morning, frank. is today the day we see a speaker elected? this morning, we know gop will have eight candidates to choose from after one dropped out of the race. last night, the republicans spent hours in the closed-door forum. each candidate made their pitch.

this morning, they will meet again and they will have multiple secret ballots. whoever gets the lowest votes gets eliminated from the next round. this process continues until one candidate wins 50% of the vote. that person is the gop nominee and face the challenge of getting 217 votes in the full house. finally, they can win the gavel and get the house back to work. lawmakers say they are confident that a speaker role will be filled tonight and several have confirmed that during the forum last night, all of the speakers committed to back whoever is chosen. frank. >> brie jackson, thank you. we have more to come on "worldwide exchange," including the one word that investors have to know today. but first, one month and $110 billion in deals. we look at the energy sector and the possible acquisition targets

that are still on the table. plus, we have the big money movers and a buyers market for redfin. we also layout the numbers when microsoft and alphabet are set to report today. we have a very busy hour when "worldwide exchange" returns. ne. 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." it looks like the dow would open up 90 points higher.

nasdaq and s&p up .50%. let's see how the european trading day is shaping up with joumanna bercetche. >> frank, good morning. it has been a choppy session and we're only a couple hours in. we were down early on. now we have green coming through. the outperforming market is the french market. cac 40 up .40%. we heard from hermes which beat expectations and pulling up the luxury sector with it. outside of france, red on the board for the ftse 100. it is down .20%. ftse mib is down .20% in italy. it is a busy earnings day with hermes and logitech. the main benchmark after raising

the outlook with the focus on cost discipline which is paying off after sales falling in the second quarter. barclays shares are under heavy selling this morning. we were 8% lower at one stage. one of the worst foreperforming stocks in the region. pressure for savers was beginning to hit the margins. they are forced to pass on the higher interest rates to depositors and savers and it is hitting margins. that is weighing on the barclays share price and uk banking sector. frank. >> julianna, thank you. julianna tatelbaum live in the london newsroom. shares of chevron and hess are moving higher as investors are digesting the $52 billion takeover deal. hess dropped 4% and chevron fell

2% for the day. that was the worst performer in the s&p. mike wirth laid out the case yesterday on "squawk on the street." >> we need to operate in the world we live in and that is one which still needs oil and gas delivered by responsible producers. this is an exciting deal for us. this is about long-term growth and long-term value and commitment to the energy sector. >> will the deal and exxonmobil with pioneer open the flood gates or put a lid on the m&a sector? we have peter with the latest on the deal joining us. >> thank you, frank. >> give us a sense. is this a trend investors should pay close attention to or is there any way you can capitalize on it? >> it is hard not to pay attention when you talk about

deals this big. with the case of hess, that is historic with the company being around for nearly a century. these are cases where you have motivated sellers. ceos nearing retirement age and maybe an approach made sense for the buyers. oil prices around $90 a barrel tends to be more fun to run an oil company. agrees on a price can be difficult, but in these cases, you know, we had big deals consummated for pioneer and hess. >> peter, you are hitting on oil prices. oil prices are up $15 a barrel since july. we had opec cuts announcements which has been a catalyst for price action there. how does this play a factor in

m&a? >> the energy industry or traditional oil and gas industry is healthy. balance sheets have been repaired from where they were three years ago. dividends are on the rise. in this case, you know, you are getting mmm&a. chevron and exxon are just offering shares in their deals. it is a good time for the companies to invest. they have been a little bit hesitant, particularly here in the united states with more capital discipline. being cautious on where and when they heinvest. >> a lot of talk about the permian basin. the highest producing oilfields in the united states. give us a sense how that

influences the possible m&a deal. >> the likely target means you have to have a willing seller. in the case of pioneer and hess, you have ceos near retirement on companies they built and run for decades. i think the basin has consolidated into the hands of a few companies. namely oxy and chevron and conocophillips and exxonmobil. there are other bigger players out there like eog resources which is diversified. >> a lot of possibilities, peter, is there one in your mind that is likely going forward? >> these deals are hard to put together. i'm not sure i can say one single company can agree to the price. i think it is less likely you

get someone selling. >> all right. peter mcnally, thank you. i appreciate the time. coming up on "worldwide exchange," energy deal making may be red hot, but david solomon says the good times start and end in texas. comments from ldn'gomas ceo coming up right after this. 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.

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on the news line. eunice. >> reporter: thank you, frank. the reports have started to merge that president xi jinping has visited the central bank. he, along with the vice premier and some other government officials, appear to have not only visited the central bank, but the regulator and the administrator of foreign exchange. the vice premier visited the sovereign wealth fund. what is interesting is this is the first time that we heard president xi visiting the central bank. there are reports that the purpose of his visit is to better understand the forex reserves that china has which is $3 trillion. frank. >> eunice, i want to come back to you. you mentioned this is the first time we know of that president xi has visited the people's bank of china. is that a significant visit or a

coincidence it happens on this day? >> reporter: we don't know because this has not been confirmed. it is not in state media. also, the central bank web site hasn't confirmed the visit. in terms of timing, what is interesting is the economy is doing quite poorly. there is a lot of concern about the direction of the economy and, in fact, just next week, we're expecting to see a closed door work conference in beijing. a lot of folks are expecting the leadership is looking at what is happening at the economy and try to set up more priorities and policies to manage risks as well as really prioritize the economic concerns that people have about this place. >> again, reports that president xi of china making the first trip to the people's bank of china. eunice yoon with the latest. thank you. time now for the big money

movers. we start with shares of cleveland cliffs moving higher. company reporting a jump in third quarter profits. cleveland noting liquidity is an all-time high after $600 million generated in free cash flow. shares up 3%. redfin shares surging after ap apollo capital is committing to $250 million in financing. it extends the debt maturities into 2028 opening the door for debt repurchasing. shares up over 9.5%. and shares of okta with an 8% slump this morning. it wiped out $2 billion of market cap and comes after the company disclosed a hack of its support systems last week. the latest in a string of similar incidents.

okta dropped 8% yesterday. time to get a check of the headlines outside of the world of business with phillip mena in new york. >> good morning, two hostages have been freed from hamas. on friday, two israeli american citizens were released. officials believe more than 200 hostages remain in hamas ca capt captivity. in louisiana, 150 people were killed after the massive pileup. the crash left two dozen people injured and it was likely caused by dense fog and smoke from wildfires. the conditions known as super fog. the visibility was reduced to near zero. finally, a surprise delivery at the indianapolis colts and cleveland browns game. a baby born 20 mineutes into th

game. the new mom arrived to the stadium and went straight to the first aid station. david bell told indianapolis tv station that the newborn is his niece. the game was exciting enough. 39-38. on top of that, a new baby to be celebrated. >> congratulations. that was a game. phillip, great to see you. straight ahead on "worldwide exchange," the all-star studded streaming deal courtesy of former president barack obama. it is coming up when "worldwide exchange" continues.

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it's 5:30 a.m. in the new york city area. there is more ahead on "worldwide exchange." stocks looking to regain momentum after a mixed start to the trading week and reality of elevated rates. top of mind for investors today is earnings and kickoff to big tech with microsoft and alphabet on tap. we will tee up the key numbers you need to watch. annd wall street's top leaders are gathering for davos in the desert and offering insight into the higher for longer thinking. it is tuesday, october 24th, 2023. you are watching "worldwide exchange" here on cnbc. welcome back to "worldwide

exch exchange." i'mfrank holland. we pick up the half hour with the check on the trading. dow would open up 70 points higher. turning to the bond market. the ten-year bond touched 5% briefly yesterday and we start with the ten-year bond now down 20 basis points from yesterday. very similar story with the long bond. also down just about 20 basis points from yesterday. again, the whole yield curve moving to the downside. digging deeper into the rate effect with tech. since the start of july, the tech xlr is down 5%. 5.25%. the ten-year treasury yield is up during that time. up 25%. we don't usually talk about bonds and the percentage move with the inverse relationship.

we have seen that trend. among the worst in the xlk is a wide range of names. solaredge and zebra technologies. fortinet. solar is down 68%. wide range of companies with a wide range of impact with the companies. one thing we want to talk about is not feeling the impact of higher rates. we rarely say that. the one area not feeling the pinch is cryptocurrency. bitcoin rallying to the 18-month high thanks to optimism that the s.e.c. will finally approve an etf and invest directly into crypto. bitcoin above 30,000. $34,200. up 9% right now. you see the sharp swing. turning attention back to earnings with microsoft and alphabet which kicks off a busy week. the magnificent seven stocks, a

basket of a.i. stocks, coming off the highs for the year, but out performing the broader market. rising rates along with political tensions and geopolitical concerns are all weighing on the sectors as investors reassess risk appetite. microsoft makes up 6.5% of the s&p compared to alphabet's 2.5%. it is expecting to see revenue rise by 13%. the call is the key. analysts look aing for comments. growth of the cloud infrastructure business for microsoft is forecast to increase 26% year over year. you see a bit of a slowdown from previous quarters. outlook on cloud is also key. joining me now with the investor prospective is jason ware. it is great to have you here this morning. >> thanks, frank. >> as we mentioned, microsoft

reports after the bell. as an investor, what are you focused on? >> you know, microsoft and alphabet have been caught up in the a.i. mania this year. both stocks have done very well. i think first, investors will look forward with microsoft and is the a.i. hype coming through with business results? are we seeing meaningful growth with a.i. and if not, when will it occur? there will be a lot of focus on a.i. secondly, cloud is important. before the a.i. hype and barometribefore chatgpt, it was azure cloud for microsoft. we will look to see if azure will continue to grow and we think there is a good chance it could glrow. if you look at the last four quarters, azure has slowed. we may see a bottom in this quarter. the more we move to a.i.

workloads, we may see microsoft azure with an uptick in growth. azure will be important and then third, for microsoft, we are looking for commentary around the activision-blizzard deal. it has now closed and what now will microsoft do with it? >> i want to ask about the v valuation of microsoft. 31 times forward pe. where have you been in recent months? what do you fneed to see to add more to the position? >> we don't typically trade around earnings reports. we haven't been adding to the position. in fact, we trimmed the position in strength recently. we still have a meaningful position of microsoft. we have been owners for a decade. we are not looking to change the core position. we think it is a great secular growth story. as far as valuation is

concerned, it is expensive. trading 31 times forward earnings which is a couple of turns above average pe multiple. in order for the stock to move higher, we are to see re-acceleration of cloud and exciting news around a.i. we are somewhat neutral over the near term on microsoft despite long term bullish. >> microsoft shares up 1% in the pre-market. jason, i want to pivot to alphabet. it is set to report this afternoon. revenue set to increase 10%. eps is expected to grow by 37%. the key part of the business is youtube advertisingeing stimateo grow. jason, you own alphabet.

what are your expectations for this report? >> it is a good earnings report for alphabet. youtube seems to be tracking quite well. we think the growth in video spend is going up. benefitting from that. core growth in search and digital advertising after struggling for a few quarters last year and it looks like it is set to pick up. we will have a pretty good kcor business result. and cloud growth is profitable for google. they have more of an open lane in terms of the annual comps. if you look last year, it was mid single digits. they will be better than microsoft. valuation trading in the mid-20s. >> what do you think of a.i. when it comes to alphabet? they released a.i. products. they did not receive rave

reviews. you think that microsoft will see a bottom in its business with a.i. enthusiasm. how does a.i. impact alphabet? >> in a lot of ways. as you noted in the spring, microsoft had taken over the excitement over a.i. because of chatgpt. it looked like google was the company with the most to lose. that didn't last long. the io conference in may is where they took back the narrative demonstrating the broad sweep for uses particularly with google search. google is an a.i. first company. they will continue to be an a.i. first company. there are a lot of ways a.i. impacting business in a positive way with core soearch being one of them. we willi look at what they have to say. >> you were interested in the comments with the activision-blizzard acquisition

with microsoft. when it comes to alphabet, any issues with the regulatory competition with search? that is the big part of the brand image to be the default br browser on every iphone? >> it is a great position to be in and costly position as well as we learned. it isis interesting to see what comments they may have. we are in an ongoing trial situation. they will be limited in the comments. i would not be surprised if ana analysts ask about that. >> jason ware, thank you very much. i appreciate it. >> thanks. coming up on "worldwide exchange," wall street descends on riyadh. we have a live report from saudi arabia coming up. first, as we head to break, we have top trending stories.

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♪ explore endless design possibilities. to find your personal style. endless hardie® siding colors. textures and styles. it's possible. with james hardie™. welcome back to the "worldwide exchange." piper sandlers moves tuesday morning to neutral. it expect to earn growth in the next two years. we have another upgrade this morning from stifel from ingersoll-rand rating. shares are bottong in the u.s. and china. the pullback in shares creates an attractive entry point.

let's go for barclays upgrading rio tinto rating with shares sitting at an attractive valuation. shares up almost 2.5%. it is time now for the global briefing. we start off with the japanese government bonds pulling back from decade highs. the boj announcing an offer to buy $2.7 billion of bonds. japanese yields have been pulled higher in the spike of u.s. treasuries. the word is the boj spiked easing measures for the meeting next week. shares of hermes are higher as people are still splurging. lvmh noted consumers are spending less on high-end

fashion. barclays profits are narrowly beating it forecast, but it is beating on the margins for customers and sticky inflation impacting lending. barclays hinting at cost cutting later this year. we are now going to turn to saudi arabia. some of wall street's biggest leaders descending on riyadh for the investment summit. we have dan murphy with thus morning. what are people saying? >> reporter: frank, i'm coming live to you here from davos in the desert. this is the important conference in the middle east. this year, it has been a test of saudi arabia's convening power because it was thought that israel war against hamas in gaza may actually stop some the titans of finance from des descending on riyadh.

it does not appear to have happened. you see the people behind me attending the sessions today. we heard from jamie dimon and david solomon weighing in on the outlook for 2024. they were speaking on a panel a short time ago. interestingly, both men sounding quite cautious on the outlook. listen to this. >> i look at the financial situation that the fiscal spending which is more than -- i'm talking about the united states, but it is almost true around the world -- it is almost more than it has been in peace time with the highest debt levels. i'm feeling the central banks can manage through all this stuff and i'm cautious. i don't think it makes a difference if rates go up. i think whether the curve goes up 100 basis points and i urge you to be prepared for it. i don't know if it will happen. i see a lot of things like the

'70s. >> i view this this as a function of confidence. if you listen to the day log to -- the dialogue. you asked the question clearly. are you optimistic or pessimistic? long term i'm optimistic. if you are a ceo and uncertain, you are cautious about doing significant things. >> reporter: you can see all of the big topics are discussed on the ground here. we have been talking about the impact of higher interest rates and impact of that would have on markets. also surging yields and outlook for oil prices and central to the conversation, frank, is geo economics as well. it is interesting. dimon was asked what he thought was the biggest risk. he said nuclear proliferation.

food for thought. >> wide rangingconversations. dan, thank you. coming up, one word you need to know today. victoria green says this is a make or break week. e ar a look at futures across thbod. dow would open up 100 points higher. stay with us. we'll be right back. ♪ ♪ be ready for any market with a liquid etf. get in and out with dia. hi, i'm stacey, and i've lost 60 pounds on golo. (guitar music) be ready for any market with a liquid etf. this belt i used to wear, way down at the first and second notch, it's the only thing i've kept from before losing weight and i'm keeping this because i'm never going back.

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welcome back. take a look at mega cap tech. it is gris green across the boa. microsoft up 1%. we want to watch shares of tesla. take a look at tesla. up 2%. we are tracking that stock this morning. we'll come back with headlines. shares up 2% in the pre-market. time now for the wex wrap up. we start off in china with xi jinping making the first visit to the country's central bank

since he became president more than a decade ago. this visit comes as xi's government works to shore up the economy and financial markets. shares of cleveland cliffs are moving higher thanks to cost cutting efforts. cleveland noting liquidity is at an all-time high after generating $600 million of free cash flow during the cquarter. shares up 3%. redfin shares are up after apollo capital is committing to $250 million in finances according to the s.e.c. filing. shares up 8%. we are watching shares of bitcoin which is back above $34,000 thanks to optimism that the s.e.c. will approve an etf to invest directly into crypto. and in washington, house republicans will try to pick a speaker. eight gop lawmakers are vying

for the position. and elon musk's boring company is valued after employee s shares are sold at $7 billion. and we have a services pmi figure this morning and the week of earnings with alphabet and microsoft and gm and ge and coca-cola today. those earnings are set to be the catalyst for the trading day ahead. look at futures with the nasdaq up nearly 1% right now. look at futures on the dow in the green along with the s&p. for more on the action, let's bring in victoria greene. good morning. >> good morning, frank. >> futures in the glreen with te bullish sentiment.

what is your wex word of the day? >> it is is jaws. you can hear the theme song right now. it makes your skin crawl. ceos were saying there is a lot of risk out there. the shark infested waters and we may need a bigger boat. this is make or break this week. nasdaq futures are up right now. they are betting that microsoft and google will come in strong and amazon comes in stronger this week. there is a lot of uncertainty as they were saying in saudi arabia. >> vicky, you mention risk and uncertainty. is there opportunity? i want to play something for you. this is from jpmorgan chase's chief strategist a.j jj. odom. >> we saw the 10% mark. they were at a buy at 4%. 5% is where you have to lean in

now. hearing that investors are starting to lean in anddd duration, means this is the time to buy. >> is this an opportunity to buy on fixed income and equities? >> i see fixed as a buying opportunity. if it gets above 5, it is topping out at 5.2%. i think the duration trade is about done. you had multiple people come out and close their short positions. bill gross and bill ackman yesterday who said is this short trade over? it probably got a little bit overdone. a lot of this, if you look at the move up from 4% to 5% is priced in. i think investors jumped all over the ten-year yield at 5%.

i think the bond is attractive. equities is something i'm holding off until we see what happens this week. if you get the mega caps, you still have 4,200 line holding. >> it is funny you mention bill ackman. he said the economy is slowing faster than you realize. we are showing the tweet from bill ackman now. the exxonmobil with the bid for pioneer with the earnings report later this week. why is this a good time to buy in exxon? >> i see it as a supply constrained market. we are excited about the deal for pioneer and what that can add to them in the permian. with the cash, they will out perform. we see earnings continue to rise the last couple weeks. he can pec expectations are coming up for them. if we see the geopolitical

shifts or market disruption, they are well positioned taking advantage of the prices. we love buying a bit on the dip of pioneer. that was oversold. that happens. the a they take a dip. >> and rising rates in the valuation with amazon. give us the elevator pitch for amazon. >> that is a little odd for me. the consumer has held up well. this is a play on consumer spending. maybe not the hermes market. we have seen numbers stronger than anticipated. it is a combination of thosetwo things. they get a nice lift at year end with the year end spending and we will see how prime day. the company has been fairly impressive. i look at them and think aws may come in stronger than anticipation. the strength of the consumer

cannot be denied. >> we have to leave it there. amazon shares at 1%. great to see you. thank you. "squk x"awbo is coming up next. thanks 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

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good morning. stock futures are higher and bitcoin is soaring ahead of the opening bell as optimism grows for regulatory approval for a spot bitcoin etf. price has doubled year to date. depending on what you measure it on. over 10% to above $34,000. it is alphabet soup day for earnings. we hear from ge and gm and 3m this hour and alphabet after the

clo closing bell. and more letters. uaw is expanding the strike to the stellantis plant which makes the pickup truck. it is tuesday, october 24th and this is "squawk box" on cnbc. good morning. welcome to "squawk box" here on nbc. we are live from the nasdaq market site in times square. i'm becky quick along with joe kernen and andrew ross sorkin. dow futures indicated up 10t8 right now. s&p is up 20 points. s&p is giving back a bit of ground. the nasdaq did break a four-day

losing strst