it is 5:00 a.m. here at cnbc global headquarters. here is your "five@5." markets dicontinue to grind out gains. vo investors are looking for fresh fed comments. and roll camera. actors get back to work to end the nearly four--month strike. shares of disney are popping on the back of the quarterly results as ceo bob iger goes from fixing to building the entertainment giant.

and china is facing a stumble as it falls back to deflation. and arm is disappointing with the first earnings report as a public company. it is thursday, november 9th, 2023 you are watching "worldwide exchange" here on cnbc good morning welcome back to "worldwide exc exchange." i'm frank holland. let's get a check of the markets. the s&p is flat. the dow is moving higher the nasdaq is lower right now. the s&p and nasdaq grinding out gains yesterday to extend the win streak the dow, however, breaking its seven-day win streak we are looking at the bond market the yield on the ten-year bond

at 4.53% important to note that the two-year bond and long bond back below 5% we want to check energy. looking at oil prices and the drops there. wti and brent crude up 1%. you see here wti at $76 a barrel brent crude is $80.25. wti and brent on pace for the third negative week in a row since mid-may. we have a check of the big money mover. disney shares popping up 4% on the back of fourth quarter results. earnings topping expectations thanks in part to profit at espn plus and continued theme park growth disney saying it plans to increase the cost cutting measures by another $2 billion speaking with cnbc yesterday, ceo bob iger spoke about the streaming services

>> we expect subscriber growth to continue. we are focused on delivering profitability by the end of 2024 fiscal quarter you noted disney plus subs increase >> we will have more on the disney results coming up later in the hour. let's focus on the markets with the investors turning attention to another day of fed comments with jay powell and others slated to speak powell calling on the forecasters to remain flexible and think outside of the models with the insight and projections on the economy economic forecasting has proved chall challenging. powell mentioned any outlook on the moves after the fed chose to hold rates steady last week. let's bring in janet moi from

rbc. >> good morning, frank >> i think the consensus is we have seen the market rally after the pause. we get more comments from jay powell which are objtuse how do you see it? >> i think the market is attractive in the bond yields. i think we need to see the direction of inflation for sure. markets are looking for a full rate cut next year the federal reserve has two. there is a possibility the market can be right, but to go back to 2% means we need to see soft landing directional data for the stock market rally to sustain. we need to look at the economic data and the inflation data. i think currently the excitement is fizzling out a little bit i think the number of fed

speakers will sound hawkish. >> you are hitting on two big things bond yields moved on the idea that the fed was done and inflation. next week on tuesday we get cpi. the fed inflation target of 2% is expected. do you think that gives us clear insight into the fed decisions >> i think any inflation data point would be very helpful. it is one data point i think we need to see sustained return to inflation target i think the current slowdown in the oil prices is helpful. that calms concerns. there is a worry in prices and that doesn't materialize and that is incrementally helpful for the near-term inflation outlook. >> i know you are looking ahead to the idea of a soft landing or

hard landing based on the fresh comments from jay powell and the market reaction, where do you land now? soft landing hard landing are you in the hidmiddle >> we are in the middle. we were leaning on the hard landing snoercenario, but n leaning to soft. al actually, the survey points to a better environment for credit conditions it is still tight, but less tight from the previous quarter. it is difficult to forecast. i think we are now in the middle we have to see what the data is here. is what jay powell is saying it is difficult to forecast. janet mui, thank you

time for the check on the top corporate stories with silvana henao. >> good morning, frank breaking news overnight and end to the four-month long actors strike a tentative three-year agreement with the studios the two sides coming to agreement with protections against a.i. and pay increases this now goes to the national board for approval tomorrow. turning to the economy in china and inflation pressure fresh data showing consumer prices dipped back below zero last month that figure was driven down by a slump in pork prices producer cost declines deepened in october the federal reserve is apparently reviewing morgan stanley's wealth management arm.

they are looking to see if they have proper controls in place to keep from laundering money the report adds that the fed scolded the bank for not making the changes needed >> silvana, thank you very much. see you later on in the show. we have a lot more to come on "worldwide exchange," including the one word investors have to know today, plus another black eye for softbank and vision fund as the losses continue to pile up. also, the ceo of gxo is talking about the health of the u.s. economy later on, we check the pulse of the u.s. consumer and the continued spending we have a very busy hour when "worldwide exchange" returns ♪ old school wisdom, with a passion for what's possible.

that's what you get from the morgan stanley client experience. you get listening more than talking, and a personalized plan built on insights and innovative technology. you get grit, vision, and the creativity to guide you through a changing world. ♪

the power goes out and we still have wifi to guide you thrto do our homework.ld. 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.

look at u.s. futures right now. the nasdaq is moving into the green this morning the s&p is up slightly, but it's early. let's get the look at the european trading day with julianna tatelbaum in our london newsroom good morning, julianna >> frank, great to see you we have a green started out wit trade. the positive momentum has been building now every major region is in positive territory you have spanish and italian up .60% apiece

cac 40 is up .60%. dax is up .30% we have under performance in the ftse 100 around the flat line. the investors review data from china with the inflation data. on that note, let's look at asian equities as prices continue to fall in china. shanghai ending flat k nikkei is ending higher. and the company posted the investment gain on the vision fund with the sale of arm to softbank with the shares up 1% back in europe, astrazeneca is in focus it raised earnings guidance for the full year amid strong demand for the cancer drugs it now expects core eps to rise by low double digit percentage frank, back to you

>> julianna, thank you very much julianna tatelbaum in our london newsroom. and shares of gxo beat, but warns profit for the current quarter. it cut the full-year revenue guidance forecasting a soft holiday peak for apple and nike and unilever. we have malcolm wilson from gxo. thank you for being here. >> thank you for having me on the show. >> you said the revenue growth was due to softness in the holiday quarter. what are you hearing from customers that include apple and nike and unilever? >> we have a record revenue in the quarter. all of the metrics were in good place. free cash flow and earnings per share. we delivered exemplary customer

service. we have a new amount of lending in the company the sales pipelines are strong we are standing up to operations and we are ready for the holiday season. >> i want to go back to the numbers. you cut revenue guidance, but raised low end of the eps guidance does that mean you are retaining pricing power or higher end services >> our company is a resilient company. we are able to pass back to customers wage inflation which is maintaining our pot only line y bottom line. that is leading united states to move down the expectations. >> apple and nike and unilever are your companies what do they expect to see in the holiday quarter? >> inventory is normalized

through the course of 2023, we see normalizing inventory. we see manufacturing disruption and supply chain disruption. now inventory is in good shape everybody is looking to the holiday season it is more compressed. >> it sounds like they don't need as much inconvventoryinveny ecommerce requires two to three times more inventory these stores are giving you a sense? >> we hee are across all retail. there is so much technology in the warehouse environment. it operates in a faster environment and higher quality all better for our customers from the service point of view of course, it is better for the consumer >> i want to talk about higher rates. that impacts customers you also have $1.6 billion in

debt you have under $500 million in cash give us a sense of the higher for longer environment impacts your debt and set servicing? >> we have fixed rate borrowing. that is helping us de-lever the business balance sheet is rock steady that de-levering helped us in the strategy where we are growing inorganically. we close a d a great deal for r shareholders >> it is deterring you from using debt >> a little bit. >> malcolm, thank you so much. gxo shares closed 4% higher yesterday. although you lowered holiday guidance, you raised eps guidance thank you for the insight. >> thank you coming up on "worldwide exchange," much more of the morning big money movers and the

fintech player catching in up 13%. we will owsh you the name on the mystery start when "worldwide exchange" returns.

personalized financial advice from ameriprise can do more than help you reach your goals. i can make this work. it can help you reach them with confidence. no wonder more than 9 out of 10 of our clients are likely to recommend us. ameriprise financial. advice worth talking about.

welcome back to "worldwide exchange." time for the big money movers. arm posting earnings for the first time since the ipo it has slow ing demand for

smartphones and the ceo says the d industry is in a refresh cycle >> i think we're into a refresh cycle for pcs and phones jim, for all devices our quarter was so strong largely driven by licensing revenue which is an indicator for r&d. we see a super cycle of investment affirm shares are 13% higher following the first quarter earnings beat. the buy now pay later company seeing revenue jumping 27%. it allows it to adjust changes in the economy and on consumer behavior those shares up almost 13% that was our mystery chart. shares of twilio is

forecasting fourth quarter profit above estimate. refe revenue increasing by 5% driven by the data business as volumes across the pipeline continue to stabilize. shares up more than 5% we turn attention now to the american consumer and continued strengths to help the u.s. economy chug along there are questions of whether or if the momentum will slowdown or stop. there is one reason for the resiliency which is overlooked robert frank is here with more robert, good morning >> good morning, frank americans gained $37 trillion to their wealth during covid. rising from $117 trillion to $154 trillion at the end of june the past three years is the largest and fastest wealth boom in recent history for almost every single wealth group. the median net worth jumping 37%

per households that is the fastest since the fed started keeping data in the 1980s. stocks and real estate fueled that growth. value of stocks held by individuals surged by $9 trillion since 2019. the value of american homes soaring $16 trillion that is up to $46 trillion in current prices thanks to the raising prices jpmorgan chase saying consumers might be saving less, but they continue to spend in part by drawing down some of the financial wealth they estimate the wealth effect of 4 cents that means for every $1 of household wealth, that could lead to 4 cents of additional spending that would imply additional $1.5 trillion in consumer power consumers who feel wealthier will tend to spend more.

frank, especially now that so much of that wealth is in liquid money market or bond funds, if they can more easily cashout >> robert, housing wealth. increased by $16 trillion or billion? >> sorry trillion $16 trillion they gained $9 trillion in the market and $16 trillion in home equity and home value. >> that is amazing for anybody to buy a home before the pandemic just imagine the gains there i have to ask you and it leads to the question of what does it mean for the hope of a soft landing? >> it increases the odds of a soft landing if you think of this accrued wet wealth as a reserve tank incomes are going up less fast they are looking at the fuel tank and saying we're in

trouble. what they're missing is the reserve tank of wealth from a confidence point of view and p with the money market fun or to tap that or at least know it is there will at the least delay any recession and increase the odds of a long, soft landing. >> the wealth effect i'm talking about the frank and frank effect we all feel richer i love it. you have to come on every day. >> i love it happy to, frank. still ahead on "worldwide exchange," a potential second life for ftx the idea floated by one top regulator for the bankrupt crypto exchange. if you haven't already, follow our podcast on apple, spotify or other podcast apps. more "wex" coming up after this.

(swords clashing) -had enough? -no... arthritis. here. aspercreme arthritis. full prescription-strength? reduces inflammation? thank the gods. don't thank them too soon. kick pain in the aspercreme.

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.

5:30 a.m. in the new york city area. there is more ahead here on "worldwide exchange. the market win streak is rolling on with the nasdaq continuing the charge higher. we dig into whether the momentum can continue. also charging higher is disney the streaming gains provide magic for the quarterly results. a political fight in d.c. with the evs it is thursday, november 9th, 2023 you are watching "worldwide exchange" here on cnbc

welcome back to "worldwide exchange." i'm frank holland. let's start the day with the half hour check on the u.s. stock futures. we started the show and it was mixed. futures are solidly in the green. dow would open up 55 points higher at the open remember, it is early. we are looking at the bond market the yield on the benchmark ten-year yield at 4.53%. falling a few points in recent days the energy market is specifically oil and wti at $76 a barrel up almost 1% brent crude is $80.25. up 1%. natural gas is up .50% that is the look at the u.s. market and the set up there. t

time to go to the big money movers disney reporting over 150 million subscribers for the disney plus platform compared to the 148 estimated. bob iger says he believes subscriber growth can continue as the company considers options for each of the networks >> we do expect subscriber growth to continue we are focused on profitability by the end of fiscal 2024. we had a great quarter as you noted adding 7 million core disney plus subs that was a result of content >> each of our networks and we do that as a matter of course for all assets we are aiming to increase shareholder value. >> for more on the quarter, let's bring in jason basniak

>> good morning. >> give us your take on the quarter and what you heard from bob iger and the tentative deal with the actors. did that change your price target >> that was expected by the market i think people are happy to see it get done it doesn't change our view on disney for the quarter, i think you encapsulated it right. profits were better. that is what the street cares about. the most important thing that happened on the call was the upsizing of the cost saves where they moved that up to $7.5 billion from $5.5 billion. a lot of that is lower content spe spending what that means is that disney is now going to generate next

year free cash flow that exceeds levels that we saw prior to covid. >> we hear so many people say it is important to have strong free cash flow. i want to look at something else ads. we heard a lot of companies talk about weakness in ad spending. some citing the israel-hamas war. that is a long-term concern for disney. >> not a long-term concern it is a strange ad market. national is weaker than local. we see weakness in pockets and strength in others one of the tactical things of the strike getting done, it will mean the media companies will spend more that's good. we all like to see a better ad market i don't think people have confidence that ad market will reflect materially higher in the next few quarters. >> the theme parks in the report showing they are continuing to grow we talk about the stretched

consumer and people spending with the credit cards and rates hitting high levels. the theme park business. is that growth sustainable >> i think it is sustainable because if you think about the parks business, you have to put disney's parks in one pile and regional parks in another pile the disney parks are so expensive, it is targeting very high-end customers somewhat paradoxically, it helps affluent houses generate more income that is not disney's core customer the numbers were good at parks i suspect they will endure >> the streaming services is the bright spot for the report how should investors view bob iger's comments they are looking for a strategic partner with espn and other assets? >> mr. iger as been expansive.

he said maybe we'll partner with distribution companies or sports leagues. i view that as a red herring it is to insulate disney from getting into a bidding war with the others moving in sports. the logical way is to give the league a stake if espn do you take the higher cash payment and diminish the equity value of the espn stake or not i think it is a very smart move on the part of mr. iger. we will see. >> jason from citi, thank you very much. >> thank you >> we will hear more are the media landscape at 9:00 when john malone speaks with cnbc that's at 9:00 a.m. time for a check on the top corporate stories with silvana henao who is back with those

silvana. frank, snap conducting a round of layoffs the company says 20 of the 5,000 employees have been laid off cuts have not been centered around any specific product. the move comes after snap posted a 5% increase of sales in the recent quarter, but warned of a broader advertising slowdown s.e.c. chair gary gensler offing hope for ftx. saying it could be revived under new leadership speaking to cnbc, gensler says the revival must build a trust of investors and come with disclosures to succeed this amid reports that former nyse president is one of the three bidders looking to purchase the remaining assets. and the white house vowing to veto a republican-backed

measure meant to overturn the president biden's call for government funded electric vehicle stations lawmakers arguing the measure was passed in a narrow vote in the senate would eliminate domestic requirements for ev chargers >> thank you, silvana. turning attention to tech. apple shares repuare up 5% sinc posting last week. it gave cnbc a look at the efforts that include recycling more than a dozen elements to reduce the environmental impact from the device business take a look. this is daisy. a robot that removes cobalt and gold and other key materials from phones and reused in other devices. apple revealed the first carbon neutral catchin december

it will make all products carbon neutral by 2030. daisy operating with the administrator of the epa and spoke out to us. >> the best environmental work is sustainable from the economic and business perspective the charge here in the lab is we are trying to get to processes that are great for our bottom line as well as great for the planet >> the elements used in apple devices have seen increases in supply constraints and cobalt is flat since 2020. we spoke with samsung where it is increasing the number of sustainable packaging and lenovo is increasing recycling in

hundreds of its products. the nasdaq closed higher for the ninth straight session the index is up which coincides with the drop in yields. most of the sectors in the s&p are sllower this week. let's talk about tech and the names that are leading the way in 2024 is sophie lund-yates. >> great to be back. thanks for having me >> i want to talk about the stocks which have been pouring the market magnificent seven up more than 90% for the year we are saying this is an a.i.-powered rally is this keeping the markets higher with the potential of a.i. >> yes that is why we are seeing the

extent and huge moves. this is a rally around the excitement a.i. injected into the market without that, a lot of big players within a.i. have incredibly strong businesses without those, this rally would not be justified at all in my opinion. you know, when we look at the likes of microsoft or amazon and what is going on under the hood with the fundamentals propping up the businesses, those fundamentals are quite robust. in answer to the question, in terms of what has the market hot under the collar, that is a.i. >> you mentioned that these companies have strong businesses i want to make sure the audience is on the same page. magnificent seven are companies with exposure to a.i

i want to talk about the big b2b business cloud computer how big of a factor is that in the rally? as an analyst, how do you view the gains with clout d computin with a.i. or another factor? >> to start with gaming which is interesting and something that is not to be forgotten the potential is huge. that doesn't come as a surprise as you look at the scale of this activision acquisition from microsoft. you don't chase a deal that size if you don't believe gaming is the future that is the driving force that has been more formalized and permanent by the pandemic and changing way in which we spend our leisure time in terms of the b2b on cloud, these a.i. and cloud offerings are not made equal for example, i think when you

look at azure, it has a leaning to cybersecurity in particular which is something to grow in popularity google cloud is stronger on the machine side >> how is the consumer playing a part with the magnificent seven and mega cap tech stocks the general consensus is the consumer skkeeps spending and i stretched and close to its limit? >> consumer strength this time of year is important it underopi dlsunderpins a hugef the rally. they rely on you spending on electrical goods or advertising spend. both of those things are tied into the economy overall festive spending and holiday season spending will decelerate going into this

quarter. actually, ecommerce is expected to do well one stat i come back to when i'm asked, amazon hired 100,000 extra seasonal workers to deal with the holiday rush. this is not a company that is expected an immediate slowdown i think it is something to monitor closely as we head into q1 where we could see a pull back resill ient for now >> sophie lund-yates, thank you. coming up on "worldwide exchange," details on the nvidia c chip maker despite the ban. and dr. pepper taking spice to a new level revealing a spicy soda the offering is available to pepper perks members while supplies last. also in high demand, picasso

painting selling for $140 million at sotheby's the highest price to sell behind the version painting which sold for $179 million. and spotify revealing you can listen to audio books for free after gen-z listens to more audio books. more coming up on "worldwide exchange." 10 of our clients are likely to recommend us. ameriprise financial. advice worth talking about.

(adventurous music) ♪ ♪ ♪ be ready for any market with a liquid etf. get in and out with dia.

meet the portable blender we can barely keep in stock. blendjet 2 gives you ice-crushing, big blender power on-the-go. so you can blend up a mouthwatering smoothie, protein shake, or latte wherever you are! recharge quickly with any usb port. best of all, it even cleans itself! just blend water with a drop of soap. what are you waiting for? order yours now from blendjet.com before they sell out again!

welcome back to "worldwide exchange." looking at futures right now, the dow would open up 90 points higher nasdaq and s&p moving higher as well. time for the "global briefing." nvidia releasing three new chips from china after the ban of selling chips by the u.s nvidia could announce the new chips as early as november 16th. soft bank posting a narrow gain of 1.67 trillion yen over the estimate of 1.3 trillion yen.

astrazeneca shares moving higher after the company raised profit outlook and secured a deal to develop a drug targeting diabetes and obesity the deal is looking at a $2 billion valuation as astrazeneca enters the early stages of clinical trials. we are watching shares of flutter getting hit on the back of earnings. let's get to contessa brewer who has more on the report contessa, good morning >> frank, sometimes the house loses. flutter said customers kwent on winning streak in september and october. flutter missed revenue exp expec expectations revenue grew 20% over last year. flutter full year guidance missed expectations for the u.s. at the midpoint of the previous

died guidance we heard from peter jackson in the last hour with the insistence that fanduel maintain the number one position in the united states. contrary to the draft kings last year with its earnings flutter has 40% of market share on net gaming revenue. it is numbergamgaming it feels like we are playing a game of who's on first flutter announced it picked the new york stock exchange and it will de-list from the dublin stock exchange i'm talking to peter jackson in an hour. we'll have more throughout the day. this issue about how you are slicing and dicing your market share advantage is really a factor here. it matters which metrics you are choosing, frank.

>> great to see you, contescont now to the big money movers. shares of take two the video game maker reporting bookings of 1.4 billion over the latest grand theft auto release. shares are moving 2% higher. shares of mgm beating third quarter profit and revenue estimates as it benefits from ease ing pandemic restrictions. shares up 2.5% and virgin galactic shares sky rocketing. pausing space flight operations next year to focus on the resources over the nextspacecra. shares up 10%. coming up on "worldwide exchange," the one word every investor needs to know today and the beaten up stock our next guest says is worth a buy.

we'll show you that name coming up next.

power e*trade's easy-to-use tools make complex trading less complicated. custom scans help you find new trading opportunities, while an earnings tool helps you plan your trades and stay on top of the market. e*trade from morgan stanley.

welcome back to "worldwide exchange." time for the "wex wrap-up. we start with breaking news. sag-aftra coming to agreement with the union it will go to the board for approval tomorrow. and prices dipped back below zero for october in china dragged down by slumping pork prices the federal reserve reportedly reviewing the morgan sta sta stanley wealth management division over laundering money. and lyft q3 results beat the expectations for more on the quarter, don't

miss a cnbc interview with david risher at 10:00 a.m. and josh gottheimer is calling the u.s. to reguister tiktok as a foreign agent and hate speak. and jobless claims are out at 8:30 a.m. eastern from wynn resort and tapestry and coors and kate spade fed officials are speaking today headlined by jay powell at the panel at the conference in washington at 2:00 p.m turning back to the markets now is a split session with the dow snapping a recseven-day win streak nasdaq and s&p are up for the eighth and ninth day will they maintain the positive momentum today let's ask patrick frizzetti.

pat patrick, good morning. >> thank you, frank. >> can the rally with the s&p and nasdaq continue? what did you make of the comments from jay powell yesterday? >> look, i think the terms of the s&p continuing is a very concentrated market. we talked about the seven stocks out performing for many reasons. the multiples are expanding more and more i don't think you can have a healthy, functioning market for the intermediate or long term for a concentrated performance in terms of powell, it is a data driven decision making process for the fed that will continue in my view my expectation is i don't think interest rates will deviate much from where they are now.

i certainly don't see interest rates moving up and i don't see them coming down especially given the inflation expectations continuing >> i know you are worried about some of the market the net income expectations going into next year we will show the chart give us an interpreinterpretatin >> my friends put this charting together it is telling. you think about the overall earnings growth and expectations ac across the s&p 500, the seven stocks are part of the earnings growth they have been we expect to see in 2023 and 2024 as well the other 493 stocks dipped. when you look at this and not only the concentrated market performance, but earnings e expec expectations, it is not healthy.

>> with that ominous outlook, showing us the chart, what is your wex word of the day >> diligence all investors have to make sure they are diligent when they he are looking at stocks to buy >> you have a pick for us. it is in the hydrogen space. down year to date. why is that a great buy right now? >> the company that i'll speak about is air products. they are an industrial gas company. they are a big part of the energy transition. they have a number of gasification projects. they are manufacturing hydrogen. that is part of the energy transition for the years to come you think of the projects you are building >> patrick, before we let you go, i want to talk about one more thing cnbc releasing a survey this

week it is tracking the opinions of 18 to 34 year olds right now, only 14% say they are a homeowner. more than half say mortgage costs impacts their decision to buy. what does that tell you about the health of the economy? >> it shows you that people are definitely worried about future purchases of homes the cost of doing so has gone up so dramatically compared to 10 to 20 years. the consumer spending overall and purchasing new homes means the demand could be muddled for the near to immediate future it is a concern. >> patrick, thank you for being here >> thank you, frank. that will do it for us on "worldwide exchange. we have "squawk box" coming up

next futures are moving higher. dow would open up 90 points higher have a great day what is cirkul? cirkul is the fuel you need to take flight. cirkul is the energy that gets you to the next level. cirkul is what you hope for when life tosses lemons your way. cirkul. it's your water, your way.

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 the strike is over hollywood actors reaching a dale with studios late yesterday's to end the 140-day walkout. and disney announces a plan to wcut additional $2 billion in costs. comments from bob iger ahead. and fireworks at the gop debate we will show you what the candidates said about reining in

candidate spending and a big moment of tiktok and high heels. all kinds of talk. it's thursday, november 9th, 2023 "squawk box" begins right now. good morning welcome to "squawk box" here on cnbc we are live on the nasdaq market site on times square becky is off today i'm andrew ross sorkin along with joe kernen and melissa lee. the dow would open up 90 points higher treasury yields. the ten-year yield at 4.5% we can talk about energy