it is 5:00 a.m. at cnbc global headquarters. here is your "five@5." stocks riding the first two-week winning streak since july thanks to surging technology stocks and falling treasury yields. why our next guest says fomo will drive wall street higher from here. risk remains to the rally. case in point is moody's cutting outlook for the u.s. sovereign debt citing political polarization in washington. we will see if mike johnson's

funding plan changes that view. in china, a thawing of fortunes with the u.s. and largest trading partner ahead of face-to-face partners this week. why boeing is taking center stage this time around. the results are in and novo nordisk use case for wegovy may be getting a lot bigger. later on, a superhero box office bust for the latest marvel movie. it is monday, november 13th, 2023. you are watching "worldwide exchange" here on cnbc. good morning. welcome to "worldwide exchange." i'm dominic chu in for frank holland. let's kickoff the hour with the equity futures check. after the higher session on friday which saw the s&p close at the highest level since september and the dow cap off the first two-week winning

streak since july. now right now, futures are pointing to modest losses, although futures with the highs of the session right now. the s&p is implied lower by ten points and dow jones industrial average by 15. the nasdaq down 50. again, modest losses implied at the opening bell after the big week last week. helping to keep a floor is sharing of boeing catching a bid on the report that china may start placing orders for the defense giant planes as early as this week after a four-year freeze on product. we will have more on that story later on this hour. as stocks move higher, bond yields wcontinue the trend down. ten-year note is now at 4.63%. the two-year note is drifting to

5.03%. in energy, oil coming off the third straight down week in a row. oil prices right now still below that $80 for wti crude prices. $77.09 for ice brent crude at81.32. natural gas at $19.13. that is the set up. let's get a check of the other headlines with tsippippa steven. >> good morning, dom. ho moody's cutting the u.s. credit rating from stable to negative. treasury said it disagree was the shift adding the american economy remains strong and treasuries are the world's quote

pre-eminent safe and liquid asset. moody's is the last of the credit ratings maintaining a aaa rating for the u.s. in the meantime, speaker mike johnson is revealing a two-step short-term spend progres proposal to keep the federal government open until next year. it does not include aid to israel or ukraine or anything for the border. watching shares of novo nordisk releasing results from the trial of heart disease. the drug cuts the risk of cardio problems by 20%. the findings could expand insurance coverage and fuel broader use for the drug.

shares up 1%. dom. >> pippa with latest. thank you. back to the broader market and stocks coming off two straight positives with the major indices closing above the longer-term trend line or 200-day moving averages on friday. the new piece in "the wall street journal" suggest fear of missing out is likely to keep the rally rolling. joining me now is the author of that piece is gunjan banjeri. gunjan, this is a huge shift. a massive one in narrative and sentiment over the course of a month's time. what exactly happened? >> it's been a big shift. how quickly it has happened. s&p 500 is up 7.2% in the past two weeks. the best stretch of the year. we have seen a huge shift in

positioning. investors piling into u.s. stock funds. they recorded $4 billion of inflows in the past week. the biggest haul. hedge funds are slashing bearish exposure. nasdaq doesn't want to be caught flat footed if the rally continues. investors feeling more optimistic. they are saying they think it can finish. >> was it fed driven? was this an idea that the fed might be done raising rates or inflationary pressures were easing or the jobs data coming in, not soft, but softer than expected? is that fueling it? is it interest rate driven? >> i think interest rates are a huge part of it. all three have been drivers. i spoke with investors who said we think the fed is done. despite what powell said last week, he said it is too early to declare victory on inflation. investors are declaring victory on inflation. we think the fed is done.

many investors said if interest rates peaked, this is a good time to buy stocks. the risk/reward with stocks and bonds is more attractive now it looks like the fed is likely done raising interest rates. investors also got a bit of good news from the treasury where that auction where they issued less debt than anticipated. we saw that rally and now they are betting that momentum can continue the rest of the year. >> the quarterly funding announcement is a catalyst. we don't need many coupon securities. one of the things i thought was interesting that you highlighted the last several days is the notion that there has been interest in options specifically to options that allow people to buy the market at a p pre-determined price in the future. the call options. some people look at that as a bullish signal.

what are you reading into the surge that we've seen in options trading tilted toward the positive type options? >> a good point. it is a sign that people are becoming more optimistic. i spoke with one investor who said, look, i have been cautious most of the year. i thought there was a recession coming. he was looking at the momentum in markets and said i don't want to be left behind if this rally continues. you know, i have some of the short positions and i'll buy some of the call options so i can participate in any rally that might come in the next few weeks. it is a sign people are trying to ride the momentum higher in the market. >> now, there is momentum, no doubt about it, right now with the last couple weeks. moody's came out with negative comments in the last few days. they didn't outright downgrade the u.s. debt, but they did put it on negative watch scenario where they are saying maybe things could get worse.

we could downgrade in the future. does that derail the momentum? >> it is interesting. i was looking at treasuries before we started talking. it doesn't seem like a huge move in yields. we are hovering at 4.6%. that is where we ended friday. of course, you know the bond market is the number one thing to watch right now heading into this week with cpi tomorrow and ppi on wednesday and then retail sales. that will continue to be a source of anxiety for investors. what are bond yields doing? that is the first thing people look at these days as to what is the direction of the stock market. so far, i don't think that moody's announcement is moving the needle too much. i think wall street has been worried about how many bonds can washington issue and what is the limit exactly? >> all right. gunjan, thank you very much. we appreciate it. >> it's been fun. a lot more here to come on "worldwide exchange," including the one word that investors have to know today, but first treasury secretary janet yellen

meets with her chinese counterpart ahead of president biden's face-to-face with president xi jinping later this week. we are live in beijing with reaction. plus, we layout the key investor take aways from the d.c. drama including house speaker mike johnson's funding plan. and later on, disney's latest marvel movie making history in all the wrong ws.ay a very busy hour when "worldwide exchange" returns after this commercial break. go deeper with thinkorswim: our award-wining trading platforms. unlock support from the schwab trade desk, our team of passionate traders who live and breathe trading. and sharpen your skills with an immersive online education crafted just for traders. all so you can trade brilliantly.

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welcome back. u.s. equities are pointing to loses losses at the opening ded bell. let's see how europe is shaping up as the triading day gets undr way. julianna tatelbaum is in the london newsroom. good morning, julianna. >> dom, good morning. we are off to a positive start. every region is trading higher. the majority of sectors trading in the green. bear in mind that european markets closed on friday before you had the late rally stateside. s perhaps a little bit of the catch up. the gains are broad based. dax up .30%. .80% for the italian market.

the uk is in focus from the political perspective. major cabinet reshuffle from the government under way this morning. just in the last half hour, we have confirmation that former prime minister david cameron, he led the brexit referendum, is now coming back into government as the foreign secretary. that's the most surprising development in the uk the last half hour. keep an eye on those developments throughout the course of the morning. this is the split in europe. the majority of sectors are trading higher. food and beverage is higher. travel and leisure up 1.5%. i know you mentioned this on the program, dom, but novo nordisk is up 3% in europe trade this morning after novo came out at the american heart association over the weekend with the

additional trial results with the study of the obesity drug wegovy showing a major impact of the incidents of cardio disease and stroke. that is a positive for novo nordisk, but the drug market given the implications of taking these new drugs. dom. >> thank you, julianna tatelbaum. keeping the focus on the overseas side of things. china is considering restarting purchases from boeing with the attention on the 737 max aircraft as president biden gets set to meet with xi jinping in san francisco this week. that followed by the meeting with janet yellen and her counterpart meeting on friday. we have eunice yoon with the latest state of play here from beijing. eunice, how big is this meeting with president biden and president xi with regard to at least trying to thaw some of the

relations between our country and china? >> reporter: it's very significant, come. mainly because it was only a couple of weeks ago that people weren't sure whether or not president xi and president biden were going to have this meeting. so very significant. i think that the message that we're hearing from both sides is that the focus of the diplomacy needs to be about increased communication as well as stabilization. just over the weekend, the white house national security adviser jake sullivan said the u.s. will seek reestablishment of military-to-military ties. this comes only days after treasury secretary janet yellen had met with the vice premier in charge of economic affairs. she agreed to meet as part of the regular cadence of contact.

she will meet with president biden on wednesday and president xi will be speaking at a dinner with the u.s. ceos. this is not something people would have thought could happen just several weeks ago. in china circles, the belief is that the current state of the chinese economy has a lot to do with it. the economy is in a slump. foreign investment is way down. the chinese are looking for a way to get foreign invest ors back. not a lot of certainty, dom, on exactly how china will do in that, especially when they haven't indicated they are willing to make major changes on a policy level. >> eunice, speaking ofcorporate government relations, i want to tilt back to boeing. should we expect a formal announcement or formal order when xi meets with biden?

how important could this be for those u.s./china relations you spoke of? >> reporter: well, i think it could be important in that it would be meant to send a message to u.s. companies that china is open for business and that it is willing to make big changes and breakthroughs, they would say. in terms of what we're hearing, it looks at this stage that it wouldn't necessarily be something definitely official. this could be an mou that china would consider to bring more boeing planes and as you mentioned in particular, the 737 max to china. there are plenty of skeptics out there who say this is a consc concession that is not really a concession pause the chinese have been in need of upgrading

their boeing fleet for some time. >> looking for any announcement or memo of understanding. thank you, eunice. we appreciate it. still ahead on "worldwide exchange," why some new irs tax brackets could mean an effective tax cut for some of the country's top earners. robert frank lays it out for you next. keep it right here. at ameriprise financial, our advice is personalized, based on your goals, whatever they may be. all that planning has paid off. looks like you can make this work. we can make this work.

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the first law of thermodynamics states that energy cannot be created or destroyed. (♪♪) but it can be passed on to the next generation. (♪♪) welcome back to "worldwide exchange." we are months away from tax bda,

but new brackets from the irs is seen as rare good news, especially for top earners. robert frank is joining me with that story. this is all about inflation, right, robert? >> absolutely, dom. good to see you. every year, the irs adjusts the tax brackets for inflation. for 2024, it increases higher than the current inflation rate. some taxpayers could end up with a tax cut. the threshold of 37% goes up $40,000. it takes $731,200 to reach that bracket. every other bracket goes up. a larger share of your income will be taxed at lower rates. that is great. the gain for most taxpayers is the standard deduction. the capital gains is a mixed

bag. the income threshold for taxes rises to $94,000 for joint filers. 3.8% tax on investment income over $250,000 is not adjusted. that hasn't changed in ten years. it is now catching a lot more taxpayers which is increasing revenue. the s.a.l.t. cap of $10,000 also does not get adjusted for inflation. that could hit more taxpayers. meanwhile, the wealthy get a good break on the gift and estate tax. the gift tax exclusion goes up $17,000. the lifetime exclusion going up to a total of $27.2 million per couple. all of that is now exempted from gift and estate tax. dom, get more money in your pocket after taxes, but you have to spend more due to inflation. >> it is a mixed bag and a double-edged sword effect. robert, is there any impact with

the new tax brackets to federal tax revenue? it is a big topic in washington, d.c. given the debate of spending and cutting spending and what we're going to do for the government shutdown. >> great question, dom. this is a big focus for the election year. in the end up, it will be awash. you get more revenue from the s.a.l.t. cap deduction andless than the marginal bracket side. dom, tax collections depends on the stock market and the economy. those are faring pretty well. i expect basically a pretty good year for revenue this year. >> good news and bad news for the taxpayer here in america. robert frank, thank you very much. see you later on. let's check on the other top headlines with frances rivera in new york with the latest. good morning, frances. >> dom, good morning. we start with the middle east

where the u.s. has conducted air strikes against targets in eastern syria. two locations were attacked. this is the third strike against iranian and iranian-linked bases in the country since hamas launched the war against israel a month ago. senator tim scott will drop out of the republican presidential race despite major spending on ads in iowa and other early primary states, scott failed to make a considerable impact in any poll since beginning the campaign in may. he is the second major candidate to exit the race following mike pence last month. and the major freeway in downtown los angeles caught fire. the storage yard under the i-10 going in and out of los angeles

caught fire. more headaches for the drivers with the hustle and bustle of the holidays to come. >> i can very much em practice size with the traffic out there. thank you. straight ahead on the show, trying to strike twice. how the co-founders of myspace i.e jumping into the red-hot a. chatbot twist of their own. that story coming up.

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it's 5:28 a.m. in new york. there's still a lot ahead on "out "worldwide exchange." investors preparing for a double dose of inflation data and fresh signals if price pressures are easing or not. also, the looming deadline for a potential government shutdown. house republicans are teeing up their answer to that problem with just days to get a plan approved. we are live in washington, d.c. with the latest there. and a blow to one of the big three automakers as some of the workers say no thanks to the labor deal to get them back to work. it's monday, november 13th. you are watching "worldwide exchange" here on cnbc.

welcome back to the show. i'm dominic chu in for frank holland at this hour. let's pick up on the majors. right now, we are showing modest losses at the opening bell as the response to the big market rally we have seen. the dow implied lower 19 points. not a lot. s&p down by 10 points and the nasdaq is down 34 points. looking at the bond market as stocks march higher. yields are ticking higher on the long end of the yield curve, maturity side of things. ten-year note is 4.63%. the 30-year long bond is 4.74%. let's check on the oil prices which is coming off the third straight week of losses. losses continue this morning. we are below the $80 per barrel

mark on wti. now $77.21. ice brent crude is $81.46. flat on the session. nat gas futures up 5% at $3.19. to washington, d.c. where it is a make or break week for congress. looking to avoid a shutdown again. it appears there is another stopgap measure to keep the lights on. emily wilkins is joining us now to update us. good morning. >> reporter: good morning, dom. house republicans release the plan over the weekend to avoid the looming government shutdown which is poised to start this friday. i guess saturday at midnight. speaker mike johnson would break

it up into two parts. lawmakers have until january 19th for one funding bill. some republicans are opposing the measure as it doesn't contain conservative priorities like border security measures or spending cuts. congress member chip roy tweeted his opposition to the clean cr just announced by the speaker to house republicans cannot be overstated. funding spendingfor 75 days for future promises. the white house and key democrats have come out against the plan saying more funding deadlines means more potential for shutdowns. senator chris murphy said some democrats would be more open to a dual track stopgap measure without the riders. listen to what he said on "meet the press." >> it looks gimmicky to me. i'm open to what the house has and the priority is keeping the

government open. this is a moment where reasonable people in the senate, and that's where most of the reasonable people are these days, have to make sure we are not making the perfect the enemy of the good. i'm willing to listen. >> the senate started this proper sees oces process of the bill last week. dom. >> i wonder if there is a scenario timeline wise, where they could come to some agreement with regard to certain aspects of this and keep the government open at the same time. how optimistic can folks be there will not be a government shutdown? >> you have to say last time it was looking like we were going into the shutdown and with less than 24 hours left, congress pulled out a plan to keep the government funded up until this point. i don't want to say never say

never here. last time, the solution caught people off guard. there is that potential that congress still has a week. a week is not that much time, but for lawmakers, this is time to get stuff done. i think the big question is how much are republican opposition is out there and are there democrats willing to go along and support it. we could see a solution emerge in the next few days, but there is also a chance that lawmakers will say why risk two more shutdowns? we want one and pivot and see what the senate sends over. lots of moving parts. it will be an interesting week. >> emily wilkins with the odds and probability discussion in d.c. thank you. let's talk more about the odds of the possible shutdown with brian gardner with stifel.

brian, the interesting conversation with emily just now of what it will take to get the government going for a few weeks or months again. what is the outlook and is it something where the markets react negatively? >> it is interesting because it is a little different this time than september. in september, i think a lot of people were expecting a shutdown. investors had been talking about it for weeks. it feels like the chatter this time around is muted. i don't think it is getting as much attention. i don't believe markets normally react to government shutdowns. because i think there is also less of an expectation of the shutdown, there could be a very st short-term negative reaction. if you look back over history, for long shutdowns, marketsnega.

the last two shutdowns, the market reacted positively. the markets and the government is disconnected here, dom. >> it is not just the stock market rallying, but the part of the market should sell off more with the talks is the bond market. there is still a bid for government bonds here in the u.s. despite more questionable for the 30-year long bond this week. interest rates are still lower than the cycle highs. how much of the deficit talk and shutdown talk and everything else is really going to have an effect on that u.s. sovereign bond market? >> i think limited. i think the talk that's going on right now is limited to a very small portion of the budget. when you look at the overall budget, what drives long-term debt and issuance in what is impacting the fixed income markets, that's entitlements and

interest paid on the deabt. lawmakers are not talking about that. they are talking about 30% of the budget which is discretionary funding. half of that, 15% is defense. we are not talking about lowering defense budgets, but more spending. now to the 15% of non-defense discre discretionary. there are programs that congress will not cut. the cuts floated out there are unacceptable to the majority of lawmakers. the crourrent debate is long-te debt. that is what investors really are looking at in terms of fixed income. >> brian, in the last few days, moody's has been out with downgrading the outlook for the u.s. sovereign debt. they called some of the brinksmanship with the

negotiations. why do we feel this brinksmanship, so to speak, is playing into homoody's narrativ about the possible downgrade? >> i think moody's set up a construct in which it is almost impossible for the government to meet moody's expectation. this brinksmanship has been going on for a long time. i was bemused by the downgrade. they are talking about a political reality that existed for some time. we are not going to get out of it any time soon. we are in a very chaotic and divisive era. the country is fractured. getting to consensus of future policy is very difficult and that leads itself to

brinksmanship. that is the reality that moody's and others will see for the foreseeable future. >> brian gardner of stifel, thank you. >> thank you, dom. let's get to the latest on the corporate stories with pippa stevens. >> exxonmobil anis laying out t details of the lithium strategy. they will produce the metal vital for the electric vehicle production in arkansas by 2026. the report says the announcement is due today and exxon and tetra will plan to produce at least 10,000 metric tons of lithium per year or equal to produce 100,000 ev batteries. reuters reporting that united auto workers production workers at the louisville assembly and truck plants for ford voted against the contract deal with the automaker.

the report adds that skilled workers voted in favor of the agreement. the move by ford workers coming days after uaw members at gm flint plant narrowly voted against the contract with that company. and less than marvelous start for the latest for marvel's universe. marvel pulling in $47 million in the opening weekend domestically. the worst debut in the superhero history. it included bad buzz and actors unable to promote it due to the actors strike which ended on friday. >> i'm still a marvel fan. i'll watch it. thank you, pippa. now to one of the big money movers. novo nordisk watching shares after the study revealed the blockbuster drug wegovy could have benefits beyond weight

loss. anjelica peebles has more. >> it cut the risk in people with obesity and heart disease complications by 20% in the study. wegovy found a profound effect on heart attacks and less on strokes into the five-year trial. this is the first time the drug can be considered life savings. wegovy started to show reduction of cardio events before people lost a significant amount of weight. that suggests that the drug itself might play a role here rather than weight loss alone. these results could allow more people to access wegovy and they could help novo maintain the edge over eli lilly whose drug zepbound was approved last week.

dom. >> this is the case where novo and eli has seen the value move higher because of the drugs tied to diabetes and weight loss. i wonder how many other companies out there as we spoken at length from pfizer and astrazeneca. how important is this study to propel the efforts from those companies to get these drugs to market? >> it is important to regular that the companies cannot satisfy demand at this point. it is expected that lilly and novo will sell every dose they can produce next year and possibly after that. there is room for other companies. these results do help bolster the idea these drugs have benefits beyond just weight loss. they are not lifestyle drugs. these could have meaningful effects on people's lives and health. you are talking about a 28%

reduction here in the risk of heart attack for people with obesity and heart disease. this could certainly give more momentum to not only novo, but the entire space. >> anjelica with the latest there on the blockbuster drugs. thank you. coming up, easing tensions with beijing and china as china looks to get back to business with boeing. as we head to break, top trending stories. taylor swift and mother nature having something in common. the pop superstar's show on friday in argentina had to be postponed due to bad weather. three airlines waived cancellation fees allowing fans who traveled to buenos aires to stick around where the concert shifted to sunday. and myspace co f-founders are

launching a.i. powered text-to-video tools. you can actually personalize videos by adding your likeness via selfie. you can download the free play day app on the app store right now. the wall street journal reporting that oreo lovers are complaining of shrinkflation. there is less cream filling. mondelez has not messed with the ratio. they said we would shoot ayrselves in the foot if we pled around with the quality. oreos in the news. "worldwide exchange" is back after this. ai has the power to automate, but if it's using untrusted data can you trust the results?

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welcome back to "worldwide exchange." time now for the morning call sheet. stifel is moving crowdstrike to the buy rating. analysts saying crowdstrike is a handful of vendors positioned to capitalize on consolidation in the coming years. those shares up 1% in the extended trade. analysts upgrading tripadvisor to triple form. the ability to make more money from additional sources is working. shares up 2%. a double dose of bad news for plug power.

wolfe research moving it to a peer performance morgan sdtanle cutting the plug on the warning of the future viability. plug power shares off 4.5% in the extended trade this morning. time for the global briefing. china reportedly exploring whether to resume purchases of boeing 737 max aircraft during the summit in california this week. xi jinping is not expected to reveal any formal announcements until the sale is form. any potential agreement could dissolve before president xi and president biden meet on thursday. and the u.s. and indonesia to discuss a deal for ev battery minerals including nickel. officials will meet with president biden at the white

house today to discuss the logistics and esg standards in indonesia. alibaba and jd.com notching impressive sales figures on singles day this weekend. offering hope for the struggling economy. alibaba recording year on year growth after offering 80 million products at steep discounts. jd.com says sales are at a record high. ahead, one word that every investor needs to know today. and why our next guest says he is not buying that the market rally truly has any legs to continue. we will have tt orafr is.asty te

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welcome back to "worldwide exchange." time for the "wex wrap-up." moo moody's cutting the u.s. credit

rating to negative. tim scott is announcing he is dropping out of the presidential race. he cancel ed the event over the weekend due to the flu and he said he is not the best choice for the job right now. and continental looking to cut 5,500 jobs. production and development jobs are safe while administration jobs are expected to be on the chopping block. major australian logistics company dp world restricting four of the largest ports anfte a cyber attack on friday. this could disrupt the supply chains around the world. and don't try to buy and flip your cyber truck. tesla adding a clause in the purchase agreement saying you cannot sell the vehicles within the first year unless they have express written permission or

could be sued. the first deliveries are set to begin on november 30th. alphabet is in talks to invest hundreds of millions of dollars in chatbot a.i. the investment could be structured as a convertible note and build on the existing partnership with that company. here is what to watch in the week ahead, investors are waiting for the look at inflation and reading on consumer and producer prices this week. retail is in focus with earnings from home depot, target, tjx and walmart on tap. two key events to watch with the race to get a funding deal in washington ahead of the deadline the end of the week. president biden and president xi are set to meet in san francisco at the apec summit. plenty to digest this week. looking at the trading day and

how it is shaping up, futures are negative to start the week. with more on the story, let's bring in greg branch at veritas financial group and cnbc contributor. greg, this is a scenario where the folks did not see the market rally the last two weeks. are there still legs in what has been a seasonably strong time for the markets? >> good morning, dom. averaging the seasonality, means we will look back and seeing these weeks as an omoly. we see the fed and others trying address and bring to our attention. notably, you have a fed out aggressively trying to counter a narrative that seems to be engendered by investors themselves. this is of the expectation of rate cuts. bostic and kashkari and jay

powell himself and others come out and say and neel kashkari said it most explicitly when he said quote/unquote, any ex expectation for rate cuts is not grounded in reality. we have a narrative we are discussing on our shows and among ourselves is opposite or counterintuitive to what the fed is trying to say. that is displaying on the market levels, but in terms of our bus basic building blocks displaying irrational exuberance. we will look back and see irrational exuberance. when we look at the discussions we're having and the debates we're having, i think those two are marked by irrational

exuberance taking the place of context and consideration. look at the jobs number and how we responded to it. yes, 150,000 or 180 if you want to adjust for the strikes, is less than august or september. you know what it is less than, dom? less than july's 157 or june's 105,000. that was a good jobs number, but it is still a number that is associated with the healthy economy and it is not a straight line. for us to interpret it that way and imply that this is over and we don't need to worry about inflation any more is a head fake. it is typical irrational exuberance. >> word of the day. thank you very much, sir. we appreciate it. let's check out u.s. equity futures. we are seeing a little bit of that exuberance off the markets. s&p implied lower 7.

dow by 2 and the nasdaq down by 35. after a banner week for equity mar ma ma markets, keep it right here for "squawk box." see you tomorrow.

good morning. busy week again for the markets. key inflation data and retail earnings on the way. we'll tell you what to expect. house speaker mike johnson unveiling a two-step plan to fund the government and avoid a shutdown. it could come as early as the end of this week. details ahead. new trial data for novo nordisk weight loss drug wegovy. researchers found the drug slashed the risk of cardio events before patients lost a significant amount of weight. it's monday, november 13th,

2023. "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 becky quick with joe kernen and andrew ross sorkin. it is monday. things are looking flat this morning, but this comes after the second week in a row for gains for all three averages. s&p down 5. the nasdaq off 27. then you have treasury yields. i guess powell speaking last week and this i'm at the imf. he sounded hawkish than the last time around. ten-year note is at 4.62%. on