it is 5:00 a.m. here at cnbc global headquarters. here is the "five@5." we start with wall street kicking off a new trading month with a bang. futures in a holding pattern this morning as investors await the latest jobs report and what impact it may have on the fed's hawkish pause. also moving the markets this morning is shares of apple. sales slowdown shows no signs of breaking up. and breaking news, the trial of sam bankman-fried is over. guilty on all counts.

latest in a moment. and janet yellen fires back over the investor calling out her ten-year treasury. it is friday, november 3rd, 2023. you are watching "worldwide exchange" here on cnbc. good morning. happy friday. welcome to "worldwide exchange." i'm frank holland. we kick off the check with the stock futures. the dow barely holding on to being in the green. s&p and nasdaq moving lower in the pre-market. stocks are riding an impressive win streak helped by the hawkish pause by the fed on wednesday. nasdaq and s&p on the best pace for the year. the s&p and nasdaq up 5%. the dow support 4.5%. the surge is going with the bop bond rally.

that translates to 20 basis points since wednesday for the ten-year yield. you see the move after the hawkish pause. we want to check the yield curve for the rest of the board. the two-year and the 30-year bond. yields below 5%. two-year bond below 5%. we will talk more about that later in the show. we are watching big moves in bitcoin above the $34,000. $34,390. down a bit this morning. bitcoin trades around the clock. these moves following the breaking news which the jury found former ftx ceo sam bankman-fried guilty on all counts of fraud and conspiracy. he faces a maximum sentence of 115 years in prison. more in that story coming up. first to the top stock story this morning. it is apple. under pressure in the pre-market as the top sales slowdown and it

continues to fight margins and the q4 earnings beat. you see the stock move here. arjun kharpal is joining me now with the story. arjun, it was a beat. the guidance is weighing on the stock. >> reporter: good morning, frank. revenue declined for the fourth quarter for apple. all hardware categories f fell apart from the iphone which managed to bring in revenue for the quarter which is 2% year on year. the company was hit by strong dollar compared to last year. what upset investors, frank, is the comment about the all-important holiday quarter that we're in right now. the cfo said the december quarter revenue is similar to last year. implying no growth. this year, there are 13 weeks in the december quarter rather than 14 like last year.

investors expected growth of 5% for the holiday growth for revenue. the growth of iphone revenue was important with the app store which brought in $30 billion of revenue. that shows apple continues to drive sales from that massive install base of over 1 billion iphone users. investors are wondering where growth from the cupertino giant will come from going forward. we see a round of price targets from the brokers with jpmorgan chase this morning. >> arjun, the stock is down 3.5%. before this report, there was a concern of the apple performance in china with the revival of huawei. what has apple said on china? >> reporter: huawei released the high-end smartphone in september. many thought this could hit apple and take users away given that huawei used to be the biggest competitor with apple in

china before u.s. sanctions crushed the smartphone business. it doesn't seem to be the case. china revenue fell to 2.5% year on year in the september quarter. management saying this was due to a drag from mac and ipad category which dragged down the overall sales. iphone revenue hit a record number in china. >> arjun, thank you. great to see you. despite the move lower for apple, stocks are on track for the best week of the year. s&p is coming off the best day since april and closing above the 200-moving day average for the first time in october. for more on the markets, let's bring in the partner at the wall street alliance group. >> good to be with you, frank. >> apple's earnings weighs on the nasdaq. we are seeing lower bond yields. how does that shape your thoughts on the market? apple is a big stock.

>> we think that apple is now in a mature sage stage of business. the bottom line numbers beat expectations. we think we called for a pullback the last time on the show and that played out. whether it is unemployment or gdp, we feel it is strong. >> talk about the year. we had a guest on yesterday talking about the santa claus rally. we are still seeing attractive yields on bonds. in fact, one analyst said t-bill and chill. >> the ten-year t-bill is at the high, this is attractive. we will see a flight to safety which will create volatility in

the market. with the geopolitical tensions, that will create volatility. we feel there is opportunity. we will focus on the opportunities for clients. >> you gave us a few picks now. one is google. earnings on october 24th and tesla on october 18th which were both down. why is now the time to seek an opportunity and buy the dip on these sntocks? >> some reports are giving us the opportunity to buy. the stock on the watch list is disappointing. when rates are up, the consumer is going to get impacted on buying an expensive vehicle. at the end of the day, there is a broader trend. electric vehicles on the road are expected to increase 500%.

>> what about alphabet? what makes this attractive? >> another stock we are fond of on our list. we thought the numbers were good. revenue up 11%. the street did not like it because it was disappointment on the cloud. we think the strength in advertising business is far more significant than the weakness in the cloud business. that is a more significant portion of the company's revenue. for that reason, we remain constructive on this pullback. >> you are calling for a year hi year-end rally? >> i think the catalyst for the earnings coming out relatively decently. valuations look good. fundmamentals are strong. the retail sales crushed expectation. the market should be positive. >> we have to watch out for it. aadil calling for the year-end

rally and saying buy the dip on alphabet and tesla. thanks for coming in. back to the breaking news. sam bankman-fried found guilty on all counts of fraud and conspiracy. we have bertha coombs here with the details. bertha, happy friday. >> good morning, frank. federal jury returned the verdict after 7:30 last night. four hours after they began delibe deliberations. the 31-year-old was accused of mismanaging customer funds stored at his crypto exchange ftx and charged with seven counts of wire fraud, securities fraud and money laundering which left thousands of customers practically wiped out. in a statement, defense attorney mark cohen says that quote, mr. sam bankman-fried maintains innocence and will continue to vigorously fight the charges

against him. prosecutors spoke to the media following saying sam bankman-fried portrayed one of the biggest frauds in american history. >> the cryptocurrency industry might be new and players like sam bankman-fried might be new, but this kind of fraud and this corruption is as old as time and we have no patience for it. >> frank, sam bankman-fried faces up to 110 years in prison. his sentencing is scheduled for march 28th of next year. back to you. >> we will stay on that story here on cnbc. bertha, thank you. more to come here on "worldwide exchange," including the one word that investors have to know today. first, highlights from my c conversation with fedex ceo with the consumer spending and global economy issues coming up.

and why the bulls are betting on shares of draft kings. and getting saet for the jos report. economist bill lee is here to discuss. a very busy hour when "worldwide exchange" returns. stay with us. with benefits from principal, they're taken care of too. (♪♪) we earn your trust. maintain our financial strength and stability. and deliver solutions that meet complex needs. massmutual. partnering with financial professionals, benefits brokers, and institutions. 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,

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that index. let's see how europe is shaping up with julianna tatelbaum who is live in the london newsroom with more on the friday action. happy friday. >> frank, happy friday. here in europe, things are more positive than in the futures boards stateside. we are trading causetiously higher. it is green across the board, but the moves are contained. ftse 100 up .20% after the bank of england decided to keep rates unchanged as they wait for data to come in. the dax is up 2%. the cac 40 is muted in france. hovering around the flat line. ftse mib up .30% in italy. ten basis points higher for the spanish market. from the sector perspective, we see the auto space basket up 1.5%. it is the best performing basket in europe this morning. we have a couple of good movers.

volvo trading to the top of the stoxx 600 after sales of the automaker rose 10% in october thanks to higher demand for electric vehicles. the electric vehicle picture concerns weighed on the overall auto sector in the month of october. encouragement there. bmw came out this morning backing the annual forecast with margins and revenue rose in the third quarter. more reassurance. travel and leisure up 1.4%. insurance is down 1.1%. oil and gas and healthcare as well. one stock on the down side is the shipping giant maersk. announcing 10,000 job cuts coming. frank. >> julianna, thank you. we will continue that story with the quick market flash. we are watching maersk getting

hit hard in early trade. a steep drop in profit for the third quarter and announcing it will cut 10,000 jobs as julianna said as well as lowering the outlook for the profit. the company warned of the steep decline in shipping containers by sea this year due to slow economic growth and de-stocking in the aftermath of the covid pandemic. shares down 12% right now. i sat down with raj subramaniam yesterday. he discussed the workplace culture and a.i. and automation and his outlook for the global supply chain. >> the three things that i talked about over the last 12 months. first, we felt the industry and economy around the world and global trade were in a slowing environment. that proved correct and it

continues to be so. the second thing was we said the consumers are spending more on services versus goods. the consumer spending is high, the mix has changed. what impacts our business is spending on goods. i have to say here that that is now beginning to normalize to the pre-pandemic levels. there was a period of time where there was a disproportionate spending on services, but now we see that starting to normalize to the pre-pandemic level. the third thing is the ecommerce reset. the pandemic has drawn up and has come back down. if you look at the pre-pandemic, it is beginning to normalize. those are the three things which are negative to the industry and that's what i said. in addition to that, there was the inventory which at that point was de-stocking. i think that period is now over. we haven't begun the re-stocking

yet. we saw this early and we said that we will control what we can control and make sure we come out of this better than we went in. that is what we have done. these factors are what it is today. you know, the global trade environment is soft right now. the economy is soft right now. we are waiting for inventory restocking to take place. we will see how that goes in the next few months. >> you are talking about fedex. what about the global economy. a year and change ago, you seemed confident we were headed to a imagimajor slowdown. what are you seeing? >> i leave it to the economists to figure out what the economy may do. we are seeing, as i said, the industry and economy is slow in many parts of the world.

the consumer spending, while it's, you know, high on services and now starting to reset and hopefully that will come back in a positive way in 2024. >> for more on the great interview from the evolve summit, go to cnbc.com/evolve. coming up on the show, china is seen as a driver of future growth. these days, some chinese are not feeling confident at their growth. coming up, we have eunice yoon discussing what is driving their sentiment. 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.

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e*trade from morgan stanley welcome back to "worldwide exchange." time for the big money movers. three stock stories of the morning. bulls making a bet on draft kings. shares higher in the pre-market up 7% after the sports betting company posted quarterly revenue ahead of estimates. growth was helped by expansion and higher engagement and average revenue per user. it reported a 40% increase of users year over year. shares of paramount moving higher after reporting strong revenue and subscription trends for the third quarter. the parent company of cbs, showtime, b.e.t. and other networks grew 38% year over year and the streaming service grew by 2.7 million users. you see the shares are up nearly

5%. ticketmaster parent company livenation with the strongest quarter every thanks to concert tours from taylor swift and beyonce. higher ticket prices and demand boosted revenue up 32% to $8.2 billion. blowing past estimates which called for $7 billion. those shares up 3%. turning to china now which has been seen by u.s. businesses as a driver of future growth. these days, chinese consumers are not feeling confident about their own future. take a look at recent earnings reports from companies like yum china and e.l.f. beauty and apple. our eunice yoon is looking at what is driving the weaker sentiment. >> reporter: thank you, frank. a private sector survey shows revenue is down for the fourth straight month and the lowest since the early days of the

pandemic in 2020. consumers say they just can't catch a break. kevin li's suit shop in the shopping district was relied by financiers and reexecutives. not this year down 30%. the biggest reason is the uncertainty about the future, he says. that is hitting brands like apple and canada goose and estee lauder and china kfc. so much is weighing on the minds of consumers like all lost during pandemic. retail sales are up in september, but that is poorly for the same period in 2019 before the pandemic. instead, house deposits in the first half were up 9.8%. the biggest increase in a decade. families feel poorer because of the real estate slump and new home prices are down 0.3% in

september. that is the steepest fall in almost a year. unemployment is high, especially among young people at 21.3% last recorded. everyone feels unsafe, this doctor told us. she cut her clothing budget from $150 a month to zero. all my friends, no matter the industry, are worried, this interior designer says. frankly, i don't see hope. taylor li says customers are spending less. before the pandemic, they buy suits for $3,000. he said i bet consumption comes back next year, he says. despite market expectations, the government here just doesn't look as it is ready or willing to unleash a large stimulus despite the waning consumer confidence. frank. >> eunice, one thing that stuck

out was the household debt figures. what is leading to so much debt for families? >> reporter: people are feeling poorer. they have been taking on a lot of debt in the past several years. particularly when it comes to real estate. however, because of this overarching sentiment, there are a lot of folks trying to pay down, especially the mortgage, whenever they can. of course, that is impacting the profits for the banks. >> eunice yoon live in beijing. great reporting. good to see head to break, we he the consumer stat which is $776.9 billion. that is how much u.s. consumers saved in the third quarter according to the commerce department. that is down from over $1 trillion in the second quarter. we will see what bill lee has to say about this trend and what it could mean in the fight against

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we will look at what is pulling the stock lower in the pre-market. it is friday, november 3rd, 2023. you are watching "worldwide exchange" here on cnbc. welcome back to "worldwide exchange." happy friday. i'm frank holland. let's start your day with the half hour check on the u.s. stock futures with the dow and s&p and nasdaq all tracking for the best week of the year. you see here now in the red in the pre-market. it looks like the dow would open up flat, but lower. the s&p and nasdaq also in the red. some of the stocks taking a lead on the s&p 500 with a wide variety of names. with paramount and warner bros. teleflex at the bottom. up over 16.5%. for the dow, it is nike and

verizon and boeing. you see the movers here. m nike reversing the weakness earlier. and the stocks are moving lower in the bond yields. the benchmark ten-year yield at 4.46%. the two-year yield is ticking an above 5%. and we look at oil with the wti trading at $82.65. brent crude is up fractionally. that is the u.s. setup. we turn back to the breaking news and the final chapter for the disgraced ftx founder sam bankman-fried. we have kate rooney here with

the latest. >> reporter: frank, thank you. sam bankman-fried was found guilty on all charges. this is the biggest financial fraud in history. the max sentence is more than 100 years. we will find out that sentencing in march. sam bankman-fried was found guilty of seven counts of wire fraud and conspiracy to commit securities and commodity fraud and conspiracy for money laundering. sam bankman-fried's father at one point putting his head in his hands and mother crying. the jury came back with a lightning fast verdict. they started deliberating at 3:00 p.m. and broke for dinner at 6:00 p.m. in a post-verdict news conference, the attorney for the southern district of new york delivering brief remarks. here is what he said. >> the cryptocurrency industry

might be new. the players like sam bankman-fried might be new, but this kind of fraud and corruption is as old as time and we have no patience for it. >> reporter: attorney general merrick garland out with a statement saying sam bankman-fried thought he was above the law. today's verdict proves he was wrong. this case should send a clear message to anyone who tries to hide their crimes behind shiny new things. in the case, the prosecution called him bundle of deceit. the defense tried to argue that he never had criminal intent and sam bankman-fried did not know the extent of the damage. the defense team saying in a statement, we respect the jury's decision, but disappointed with the result. sam bankman-fried maintains innocence and will fight the charges against him. no official word, frank, on

appeal. back to you. >> kate, now this is settled, is there a sense this could give a boost to crypto prices long term? >> reporter: it is divorced from the cryptocurrency market. it is an i'd ydiosyncratic even. it is separate from prices since this company collapsed. there was a ckcontagion worry i would bring down other cryptocurrency companies. once it was figured out, it sat separately from what was going on in other markets. you have a lot of market participants saying they are relieved this happened and people can move on. some legitimate companies in the space can keep building and the noise around sam bankman-fried

swi will abate. >> kate, you have been following every step of the story. sam bankman-fried found guilty on all counts. he could face more than a century behind bars. the documentary available on youtube and cnbc.com. great to see you. we turn attention back to wall street. the october monthly jobs report due out at 8:30 a.m. the economy is expected to have employers adding 170,000 jobs in september. this all comes after the fed pauses for the second straight month. joining me is bill lee at the miliken institute. >> thank you, frank. >> estimate of 170,000 jobs. lower than the month before. in your mind, this comes in line or higher. what does that mean?

>> the fed is hoping that high interest rates will slow the economy and tame inflation. as the labor market gets stronger and stronger and every time we get a data release, everyone surprises to the upside and people doubt the interest rates are capping in rates with the market feeding consumption to continue strongly. >> estimates are lower for this month and we are seeing a trend with continuing jobless claims. we are on a multiweek streak and you sent us research. what does that mean with the report coming up for us at 8:30 a.m.? >> the job market continues strong. one of the things that is feeding consumption is the fact that people are secure about their income. consumer sentiment is belief is jobs are plentiful. union settlements are large and people are confident they can

have income to support consu consumption. that is the last thing the fed wants to see. the fed wants consumers to slow down because that is a force driving gdp growth and inflation. >> we had major labor maactions the last few weeks and months. according to the bureau, 48,000 workers on strike in october. at the same time, 37,000 layoffs according to the challenger, gray and christmas. talk about the forces there and what will we see in the jobs report? will that reflect the different moves? >> that is the inside baseball discussion among pros right now. the number may come in soft in october with payrolls because that strike action is holding down numbers. if that is the case, the fed will have to stop being on hold and continue to raise interest rates. right now, the fed's credibility

on the ability to say we will raise rates and the economy w warrants and that works against the fed to raise consumer e expectations. >> if we see in line and better than expected jobs report, how does that impact the stock market or bond market? >> investors are hoping the fed is right and they will be able to control inflation. once these numbers come in and it comes in below 170, everyone will cheer and you will see a positive reaction. if we see an overshoot, watch out because all bets are off. >> bill lee at milken, thank you. jobs report at 8:30 a.m. eastern. time for the big money movers. we are talking about apple. shares are under pressure following a fourth straight quarter of revenue declines with sales in every hardware business

outside of the iphone dropping year over year. despite beating on the top and bottom line, it expect revenue to be similar to the last year holiday sales. for more on the quarter, let's bring in senior research analyst at newburger. >> good to see you, frank. >> we see apple down in the pre-market. apple expects the same guide an guidance year over year. >> services remain healthy and as we think about the next several months, i think we will see a re-acceleration of growth. i think china remains a concern. iphone grew there in the recent quarter. stepping back o, ecosystem is vibrant.

the softness in pockets with the consumer, but growth is continuing over the next year and we continue to like the stock. >> for clarity, the street was looking for 5% growth in the holiday quarter. apple saying the same as last year. i want to talk about the iphone. iphone 15 is doing better than iphone 14 during the same time last year. are the sales overblown? >> i think the challenges consumers are facing are real. the same issues in the quarter last year had an extra week. the install base is continuing to increase. as replacement cycle s lengthen the continued mix up to the pro and pro max is helping to support the iphone business. really when thinking about this current cycle, titanium design

and the software and camera capabilities are notable and that is driving the sales of the device. >> it sounds like you think it may be overblown with the concerns of the iphone sales with the weakness in china one thing that remains to be seen is the services growth up 16% year over year. what do you make of that? is that sustainable for apple? >> i think the services growth is sustainable. it is driven by the growth in the install base with the iphone and apple base continued to increase. more people are consume are more services. icloud is healthy and app store is vibrant. music is another example which is continuing to perform well. a lot of the businesses are performing well. as long as they deliver value to customers on the product side

and services side, the services business remains well positioned to see durable growth for the next one to two years. >> we are talking about services and hardware. one thing we are not talking about is a.i. were you disappointed about the lack of talk about a.i. in the report? >> apple doesn't typically talk about new products in an earnings report. what we have seen is they continue to incorporate artificial intelligence in machine learning in the watch if you think about fall detection and crash detection or ecg. we continue to see the company infuse a.i. and machine learning in the products. i suspect we will see more of that in new products over time. the iphone continues to incorporate it. a.i. and the opportunity that the technology represents will be additive to the apple experience which i continue to view as fun and secure which

helps keep customers delighted with the products. >> daniel flax, ending on a high note. the a.i. plans are fun. daniel, great to see you. have a great morning. >> thank you. coming up on "worldwide exchange," elon musk sits down with prime minister rishi sunak and sharing e rkorasthda fect for a.i. and the job market. much more on that story coming up. iduciary, i promise to put your interests first, always. i promise that our relationship will go well beyond just investment decisions. it's the intersection of your money and your life where we can make the biggest difference. [announcer] charles schwab is proud to support the independent financial advisors who are passionately dedicated to helping people achieve their financial goals. visit findyourindependentadvisor.com

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exchange." time for the global briefing. elon musk told prime minister rishi sunak saying he expects a.i. to wipe out all jobs. speaking at the two-day summit on a.i. regulation. leaders may guide it in the right direction. >> here we are for the first time in human history with something that will be far more intelligent than us. it is not something that we can't control such a thing, but we can aspire to guide it in a direction that is beneficial to humanity. i do think it is one of the existential risks that we face. the most pressing one. china services activity picking up in october after hitting the lowest left in history. the sales growth and hiring trends are still at the softest pace in ten months.

and starbucks announcing plans to add 17,000 locations by 2030 and cut $3 billion in costs in the next three years. the ceo told cnbc yesterday the expansion opportunities are really large. >> the opportunities are really large. we think we could be over 55,000 stores. we are opening three out of four stores outside of the united states. that doesn't take away from the opportunity in the u.s. coming up on "worldwide exchange," the one word every investor needs to know today and what you should do after the best week of the year for stocks. if you haven't already, follow our podcast on apple, spotify or other podcast apps. much more "worldwide exchange" coming up after this. e results? your business doesn't just need ai, it needs the right ai for your business. introducing watsonx

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welcome back to "worldwide exchange." time for "what to watch" this

mort morning. at 8:30 a.m., the october jobs report and then ism services. then reporting from bloomin brands. we have neel kashkari speaking today to bring more direction from the fed. time for the "wex wrap-up." sam bankman-fried found guilty of all counts of conspiracy and fraud. he faces up to 110 years in prison. janet yellen is taking issue with the comments from stanley druckenmiller of non-zero interest rates was the biggest blunder ins treasury history. she disagree was the -- disagrees with the assessment. bo and bill gros bets big on

the reglast call yesterday. >> many including bank of america and schwab have long-terms positions in the portfolio. a 2% or 3% rise in prices is beneficial for them. auto workers at ford vote in favor of the tentative contract agreement reached with the company which is come on the heels from the wall street journal gm will pay $100 for each day they were on strike. and sales of block beat estimates on the top and bottom line and showed growth in cash app and square revenue. jeff bezos is moving from seattle to miami to be closer to

his parents and his space rocket company blue origin. and take a look at futures with the dow moving back into positive territory. the s&p and nasdaq in the red slightly. joining me now is tiffany mcghee. good morning, tiffany. great to have you here. >> good morning, frank. >> as we mentioned, stocks are on pace for the best week of the year. futures are in a bit of pressure right now. what is the outlook for the day ahead? >> i thought you were going to get to my wex word of the day. when i think about what my outlook is for not only the next day, but the next few weeks, you know, stocks are on pace for a great week. when you look back to last week ourksweek, it wasn't the week. i am looking at voluatility

through the end of the year and looking for opportunities. that is not to steal your thunder, but that is the wex word of the day. >> that is your thunder. we'll show it right now. your wex word of the day is opportunity. where do you see the opportunity? >> valuations have come down. they are stuck with the equity market which is so on sale. look at value stocks. the russell 1,000 is trading at 13 times. compared to the high h-growth companies or the magnificent seven which is trading at 30 times. there are opportunities in the market that are on sale right now. >> i know you have been watching the russell 1000 since we got the hawkish pause. performing in line with the nasdaq and s&p.

why do you see the opportunities? does this mean you believe rates are going to stay lower for longer now? >> not necessarily. again, right now, i'm looking at pricing. value stocks are trading at a value. we're focused on price. again, when we're talking about interest rates, yes, we're at a pause right now. i think investors should pay attention to the parts of the portfolio with the largest exposure to time value of money. yes, some of these high dividend paying stocks will have more exposure to that. these are stocks that may have been negatively affected by inflation and they may have inflation eroded the purchasing power. so far, value stocks have opportunity. >> we are looking at the chart right now. the small caps moving in line

with the s&p. the russell 1000 and s&p making the same move. in your mind, they are cheaper right now. as we look for other moves, what other moves would you make as we see the hawkish pause and small caps moving higher? we see the market broadening. >> you know, in addition to the equity position, i would really be thinking about the fixed income position. considering reinvesting these short-term positions and short-term bonds into longer bonds. right now, there are opportunities in the bond market and we should take advantage to lock in the long-term rates. >> the long end of the curve is where the opportunities lies. where do you want to lock in? >> i would say generally the end of the curve. really taking a look at what an

investor portfolio looks like l advantage of cash which i love, but the short-term yields and rates. 10 or 20 or up to 30 right now to have a more well diversified portfolio and cover yourself in the long run. >> lock in the yields on long-term bonds. tiffany, have a great weekend. >> thanks, frank. take a quick look at futures before we let you go. take a look at the dow which is back in positive territory. it moved lower this morning, however, the s&p and nasdaq in the red. apple earnings weigh on the nasdaq. we will talk more about that throughout the day here on cnbc. you see apple shares down more than 3%. that will do it for us on "worldwide exchange." "squawk box" is coming up next.

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good morning. you know by now, probably, ftx founder, sam bankman-fried, found guilty on all charges in one of the biggest financial frauds in history. he is now facing more than 100 years in prison. we will have the latest on the epic saga. don't forget it's jobs friday. we find out how many payrolls were added in october. the market is waiting for this on the day after the strong session on thursday after yields fell precipitously. apple sales dropped for the fourth straight quarter hit by weakness in china.

now concerns about the holiday sales. it is friday, november 3rd, 2023. we're like a little over a year away from that election. "squawk box" begins right now. good morning. welcome to "squawk box" here on cnbc. we are live at the nasdaq market site in times square. i'm andrew ross sorkin along with joe kernen. we have apple earnings and the jobs report and so much more. we will see what we are focusing on with the markets and everything else. we will show you the board and then get into sbf. nasdaq off 45 points. s&p is off 4.5 points. this follows t