it is 5:00 a.m. here at cnbc we begin with a vember to remember. ocks lk to finh the nth a hignote. >>call it an r-rated intervie aboux ansingling o bob er. d the fed kicks off the looking for more cuts in t

monthshead. >>and saaltman secur the top b agaiat openai. and later, we look at the arms race of a. wi a closer look at the healthcare industry. it is thursday, november 30th, 2023. you arwatching "worldwide exchange" here on cn. good morning. welcome to "worldwide exchange." i'frank lland. let's start off wi the check of the stock futures. the dow would open up 170 poin higher. it is early. it is a strong start to the futus. the gh notwith t nasdaq moh on d s&p th the best moh since 2022 and snap the three-month long strk. yosee the nasdaq up alst 11%. geing other bot from earngs thimorning.ce

we are checking e bondarket. yids lowest since septber. ten-ye notdipped to 4.25% yestery. l elds a moving lowe as well.ki at thoil mark crude righnow up 1%. i at $.60 a rrel. brent cre is up . we will have more on the opec policy meeting coming up later in the show. >>let's turn our attention back to stocks. this may fuel the hope for a santa claus rally. jpmorgan chase relesased a note calling for the s & p to drop to

4200. let's talk about this with seema shah. good morning. >> good morning. >> i think we have to jump off from the jpmorgan chase note. agree or disagree we are headed to the downturn in the markets come 2024? you are seeing an 8% drop. s&p falling back to 4,200. >> so, i partially agree. the first half of the year could be a bit more challengin i think rate expectations have moved too far and there could be an economic slowdown. once you get to the second half of the year and the economic weakness passed and we started to cut rates, i believe the second half of the year could be strong for the s&p 500. >> i wanto get a sense with jpmorgan chase citing geopolitical risk and consumer

slowdown. is propped up the economy and also the markets. >> iould agree with the consumer part. i believe you are starting to see signs of that already. we saw the fed beige book that they are seeing strains building in the space. with the numbers being strong with sales, t you see the dip into the pbuy now and pay later. i understand the geopolitical risknd i think from the macro side, it is about the consumer. again, we don't think it is falling off the cliff. th come into 2024 with the strong hse balance sheets which should sustain well in 2024. >> you say investors should be prepared for near-term picks.

what is the move? >> in terms of the volatility, we have the market pricing in rate cuts in the first half as soon as in march which is early for us given the narrave you are getting from the inflation story well and from the economy at this poin i think there will be a pull back and that suggests volatility within the bond space. take a longer perspective. look at a x-to-nine-month period. you should be diversified. there will be gains for equities for 2024. it is forthworth getting expexp. we are expecting a slowdown, but you should focus on the higher qualitassets which can sustain through a downturn. >> seema, thank you. turning now to the other top

story this morning. elon musk is giving advertisers a message. go sell ads somewhere else. >> stop. don't advertise. >> you don't want them to advertise? >> no. >> what do you mean? >> if somebody is going to blackmail me with advertising -- blackmail me wh money? go [ bleep ] yourself. but go [ bleep ] yourself. is that clear? i hope it is. he bob, if you're in the audience. >> let me ask you then -- that's how i feel. don't advertise. >> you don't need too much imagination to think what was behind the bleep. speaking with andrew ross sorkin, musk an the apologized

with the anti-semitic post earlier this month. he said he handed his critics a loaded gun. >> i'm sorry of the post. it may be the worst post i've ever done. i try to do my best to clarify six ways to sunday. you know, at least i think over time it will be obvious, apart from anti-semitic, all the evidence and my track record would support that. >> he said hi, bob, in those comments. calling out bob iger who spoke at the summit yesterday on the company's decision to pause advertising on x. >> we just felt the association with that position and elon musk and x was not necessarily a positive one for us. we decided we would pull our

advertising. we are allowing entities to use x at a platform. abc and espn, foexampl >> do you anticipate it being forever? >> i haven't addressed it since it was made. we have more to come on "worldwide exchange," including the one word investors need to know today. first, it is decision day for opec as they look to make up lost ground. what our next guest says if the cartel fails to make a decision. and stocks moving on the back of results and we are talking a.i. and the impact on "worldwide exchange." coming up, a one-on-one with the ceo of oura and how a.i. impacts .is compy day-to-day we have a very busy hour sti ahead whenworldwe exchange" returns.

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welcome back to "worldwi exchange." op ministers are gathering for the meeting. the meeting will focus on key internal matters. sourcetelling cnbc that angola

and nigeria are rejecting the des previously csidered. brinin the senior vice s marks team and previously worked at opec. jorg good rning. >> good rning, frank. thank u for ving me. seems to conntion th theting. oducti cuts ost pric, but why angola and nigeria rejecting the proposals? >> the properjectn targets were set in june of 2023. it was preliminary. there was going to be a revision of the production cuts and in angola, it does not agree with the quota. they are thinking they c produce more what the exrnal urces suggest for 2024. >> back sepmber, when opec

announced it wld extent cuts, we saw oil come back to $80 a bael weee it above that leang whatind of cuts in yr mind e need tget pres back above $80 a barr? about.is what i'm lking at cutare needed to keep oil above $80 a barrel? >> you really need to extend 1 million barrels per day at least into 2024. there is no extension of the 1 million barrs a day from the saudi voluntary cuts. prices would drop below $80 in the first half of the year. if it wants to put prices up to $85 and $95, brent of a cut is needed at 1.5 million barrels a day. >> we mentioned angola and nigeria being coerned about the levels.

>> indeed. it is clear from the participants that thlooming surplus is coming. they want to sustain the old price. there is an upside revision on supply. we have seen the israel and hamas situation improving. the premium we saw a few weeks ago has evaporated. if opec plus wants to keep prices at the elevated level at $85 a barrel, they need toct now. >> you have to hit on something i want to ask about. speaking of upward revisions, we saw the u.s. gdp number revise to the uide. lookt he with oducti ministers ts or otr macro facts going? >> i think the two things they look at is the demand and supply. on the demand, they want to look at how resilient the global economy is to oil prices.

if you look at the prices in u.s. and china, they may think that global economy could swallow a price of $90 a barrel. that would derail the econom rec recovery. they see what isappening in e u.s. how much u.s. shale production could grow if there is a higher oil price vironment and pric with venezuela with the lifting of sanctions. >> again, u believe 1.5 million barrels a day cut is needed to support prices, t what do you think is actually going to happen and how do you think investors should view that? >> this is a tricky question. we haven't heard anything which is a bitorrying. i'm confident the group will agree on a cut. i think it is in everybody's countries to reduce production to sustain oil prices. i think they will reach agreement.

i'm confident about that. i'm less confident than a few hours ago. time is runng out. let us wait and see. >>orge leon spking o. >>comingp "worldwide exange,"fter takg onhe g the in detit, the uaw is king a at houranothers to try to grow the membership by the thousands. that is something on musk weighed in last night. we're back after this. >> it is because we deserve it and we failed in some way. we cerinly try hard to show the prosperity of everyone. we give everyone stock options. we made many people who are just working the line who didn't know what stocks were, we made them millionaires.

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♪ ♪ be ready for any market with a liquid etf. get in and out with dia. welcome back to "worldwide exchange." time for your big money movers. pure storage offers dim guidance due to business model transition after posting strong third quarter results and a 13% jump in revenue. pvh shares under pressure after the calvin klein company

reported a 4% revenue increase over the brands business. the shares opvare down 4.5%. and snowflake popping. revenue jumping from $557 million to $587 million. the ceo stating it is due to a strong environment. and a banner day for salesforce. shares up 8.5% as well. the company reported an 11% increase in revenue and projecting a growth of3%. the help beat by the ct shifting gears to earnings today. shares of dell are moving higher ahead of earnings after the close. the stock is up 90% this year on optimism over artificial intelligence which management says is a key driver for

long-term profitability. investors looking for comments on the global pc market and spending on electronics is showing any signs of slowing down. joining me is simon leopold at raymond james. simon, good morning. >> good morning, thanks for having me. >> the stock is having a very strong year. what are you expecting from this report? >> i would certainly say we have a bias on this report. the first phase of the year reflected the pc bottoming thesis and the latter phase that kicked in on the last earnings report was expectations of dell which benefit from a.i. both of those will continue to drive the stock forward. pcs will suddenly return to growth. this is facing a difficult 2023. the more interesting element and what we will listen for tonight

are the contributions of a.i. dell said 20% was from the a.i. platform. we are looking for follow through. >> for another devicemaker saying a.i. can change things when it comes to the laptop business as well. you mentioned companies are trying to at least give investors the sense that growth will reaccelerate. i'm looking at the quarter with the pc revenue which is supposed to decline 16%. when does the rebound happen and what is the catalyst for it? >> i think the catalyst is the comparison which is beginning to ease year over year. we expect to see steady improvement in the trends. if we are down 16% this quarter and down single digit or flat in the next quarter, that is improvement. that is what investors are looking for here and the setup

suggests in calendar 2024, we go to low single digit in pc. this is not a growth story, but better than the double digit decline from the past quarter. >> right. dell is the third largest pc maker globally. it competes with lenovo and apple. give me a sense of how higher rates impact all this. >> one of the key points about dell is that it is biassed toward commercial pcs and not consumer products. it is less defective alt to the macroeconomics with employment and purchasing ability by consumer. it is 80% of the business needs. the thesis dell is promoting is

a.i. initiatives are embraced and apple drives the better pc performance for them. i'm a little bit skeptical that is the near-term drive. i think it is a longer-term driver. the bias is what makes dell different from competitors. >> dell shares up 1% ahead of earnings. simon, thank you for being here. >> thank you for having me. time for a check on the morning headlines outside the markets and your money with frances rivera in new york. good morning. >> hi, frank. good morning. we begin with breaking news. the death of henry kiss eenger. he has died at the age of 100. he was known as the most influential diplomats shaping u.s. and foreign policy. the daughters of richard nixon reacted to kissinger's death promoted a generation of peace for the nation.

and george w. bush remembered him as one of the most distinctive voices on foreign affairs. also breaking this morning, the temporary cease-fire with israel and hamas. it has been extended. negotiations for further prisoners exchanges are ongoing. the truce has held for more than a week now. one citizen has been held in gaza. the second u.s. citizen. frank, back to you. >> frances, thank you. strayeight ahead on "worldwe exchange,." we dig into the healthcare and a.i. right after this quick break.

first time i connected with kim, she told me that her husband had passed. and that he took care of all of the internet connected devices in the home. i told her, “i'm here to take care of you.” connecting with kim... made me reconnect with my mom. it's very important to keep loved ones close. we know that creating memories with loved ones brings so much joy to your life. a family trip to the team usa training facility. i don't know how to thank you. theris more ahead the new i'm here to thank you.

orldwide exchange." ocks s up foa noveer t member. stocks catchin2023 highs. and not holding back. elon musk giving a propfanity filled take on advertisers abandoning his platform over anti-semitic comments. we talk two ceos in the hea healthcare space over caring for you. it is thursday, vember 30th, 202. y 2023. you are watching "wodwide exchange" here on cnbc.

welcome back toworldwe exchan." i'frank lland. stock futus.h check the we are seeinthe dolookin higher.lopen up 175 points the nasdaq up .25% ths&p in the gre. a stro novemr for all three indiceas well. you see the moves here. l ree ss than away from e 2023 closingighs. > let's tanergy th the oil mark aheadf the ec possib meeti wch is out to sta short. weiltalk morabout e

meeting throughout the day. we will check on t european markets on the back of the inflation eurozone data. following from 2.9% in october and below the estimates. them move higher.s are seeing ftse 100 is the best mover in the group. ftse mib is clos the dax and spanish ibex u up .25%. we want to take a lookt the eu. this is how theuro is moving in relation to the dollar. we are seeing some movement when it comes to the euro. we will talk more about that later on in the show. t time for check of the top corporate stories with silvana henao. >> good morning. the openai drama coming to an end. the company finalized arr arrangements for sam altman to return.

co-founder who took part in ousting altman and pushing for his return will exit the board. elon musk weighing in on the situation during the new york times deal book summit. >> one or two things. either it was a serious thing and we should know what it is or not a serious thing and the board should resign. the wall street journal reporting objeccidental is in t to buy crownrock for $10 billion. it is one of the last private companies in that area and produces 150,000 barls of oil per day according to fitch. uaw strikes are not over yet. the union planning to launch a

campaign with 13 non-union automakers after closing out record deals with detroit's big three. the uaw says the campaign will cover nearly 150,000 auto workers across bmw, honda, tesla and toyota. the participation at every plant or automaker is not guaranteed and as part of the campaign, workers are in the process of signing electronic cards to support the union's efforts. frank. >> silvana, thank you. we're turning our attention to a big andnived seniversary o chatgpt's launch. it has caused attention for chips and the clouds and personal yeaa.i. assistants. one industry is looking into a.i. to help is the healthcare

industry. we have the latest guest with us. good morning. thank you for being here. >> good morning, frank. >> let's talk. how do you view a.i. with your hospital system? what are the challenges and what are the opportunities? >> you know, frank, what i see a.i. is is being the most profound diagnostic tool. no question that a.i. can improve healthcare in remarkable ways. think about the global picture. 100 million americans undiagnosed chronic disease. 90% of all healthcare costs go to treat chronic disease. a.i. has the potential to help diagnose disease earlier and help treatments and get online

quicker and even address physician burnout. i'm happy about a.i. we have to be sure how we deploy it and make sure the right regulations are in place for the right purposes. we at hackensack look at improving clinical outcomes and improve efficiency and give patients educational materials through a.i. that were not available before. >> we're showing the audience the focus right now. i want to talk about the safeguards you have in place. elon musk, i don't know if you watched this, talked about the potential dangers about a.i. a.i. may be smarter than any person in the world in a few years. when you look longer term with

a.i., are you looking at the day where a.i. will make decisions on our health without human intervention? >> i don't see that at all. human oversight is important. we piloted with companies to help us on the dgovernance side. google cloud has helped us with the a.i. governance. we matched them up with our own clinicians and our i.t. folks to make sure whatever pilots we rollout to have safeguards in place. >> before we get to the examples, i want to mention cdc data. 90% of healthcare costs is for chronic disease and mental health treatment. if that is where 90% of the cost and a.i. has the chance to

reduce doctor workload and nurse workload as well, does that mean it will reduce the cost of healthcare? >> it absolutely has the potential to reduce the cost of healthcare. just to give you one example, we are looking at a.i. in improving our operating room efficiencies. right now, there could be holes in the operating room schedule. we could fif thll the holes and putting those rooms in place sooner. it makes healthcare more efficient. in the area of imaging, it is helping radiologists who have to read hundreds of images a day, it helps prioritize those they need to do quicker. scans that look like they are positive and might be a cancerous mass. a.i.unitiewhen it mes to

>> there are he amounts. honestly, my take away is let's not let the challenges get in thway. let's be optistic. th has t oortunity to ansform hethcare. >> b garref ckensa it igreat s you hlthcar it not t priders,ut a massi market for weables dey appland fitbit and others like oa. this ia cnbc disptornd one ich pandedo 30 partnehips. ourag me on set is c of i ve a fitt. a.i.t all.th is wered at is the diffence with a

>> y know i. is pored by da thmain difference is it is measing fr theumanody right here on your finger. it is prenting that informion to set of alrithms. it may make a prediction of the day will go or if you are a woman, when you're cycle will come. maybe you e getting sick. those are powered by machine learning and a.i. algorithms. the power of this is a.i. is only as good as the data that feeds it. you want as high quality and continuous data as you can get. we can track your health and understand how you are changing over a day or a workout, but over weeks or months. seeing deviations in your baseline makes predictions about your health. >> i didn't know realize this is the most valuable place to get information?

>> where do they put the pulse monitor? the finger here. right here, you are getting return flow back to the heart. >> it makes sense to have a ring. i want to talk about the challenges. a lot of data flowing through the ring to servers. how you ptect your customer >> it is a critical concern. obviously, we need to be sure that your data is protected. we will never share or sell your data without your content. we will make sure its even rip en encrypted. >> i have a sore throat right now. what would oura do if you are about get sick? i undetand diagnosis. >> so much defines our health is the behavior and choices you make. let's say you know you are getting sick. you will change your behavior. your body is reacting to

something that is happening to you and you don't realize it. maybe the ring will pick it up. oura is known for the temp predict study. it sees signals of covid two days before it emerged. this is going to tell you this stuff. what is amazing is your body is telling you things and you can't hear it. what the ring does is it has a clear picture of normal and can see slight deviations and give you that information. it doesn't say you are getting sick, you may want to change your behavior. >> interesting tech. i might have to try o. >> you should. >> tom, i didn't know. your pointer finger. >> a.i. will predict all things about your health. >> that's cool. tom, thank you for being here. join the cnbc work summit on the future of work and a.i. scan the qr code or look at your

screen for more information. you can visit cnbcevents.com/work. and coming up, elon musk i cursing out adiss rteron x. we will gethe latest on the x-rated reaction when we come back. >> announcer: a.i. impact is sponsored by ibm. ibm. let's create. a lot of ce. if an applicatn needs to be modernized then you'll ed time, resources... and caffeine. if this sounds daunting then use watsonx code assistant ai designed to multiply developer productivity so you can generate code quickly. let's create a more modern foundation for business, with watsonx code assistant. ibm. let's create.

market flash on me.

the company will launch threads in europe next month. it is the largest expansion since the debut in july. shes up 175% othyear. turninback to e big story this morning. elon musk giving companies adrtising on his x platform a message. go sell ads somewhere else. >> stop. don't advertise. >> you don't want them t advertise. >> no. >> what do you mean? >> if someone is going to try to blackmail me with advertising -- blackmail me with money? go [ bleep ] yourself. but go [ bleep ] yourself. is that clear? i hope it is. hey, bob, if y're in the audience. >> let me ask yothen -- >> that's how i feel about

advertising. >> speaking at the new york times deal book summit with andrew ross sorkin, who was left speechless, musk apologized for the tweet that agreed with the anti-semitic post. the twitter owner said he handed his critics a quote loaded gun. let's go over to arjun kharpal who is live in helsinki at the slush conference. those musk comments. did you have any reaction? >> reporter: frank, i have asked a few people and nobody's heard. people are in their own bubble here at conference. the big issue is finding the u.s. giants likepenai and g google and amazon. there are a lot of vcs on the

hunt for the next big tech company to say we are the next on the musk story, you are stuck with my reading and analysis of it. it is this, musk used the word blackmail to say advertisers are blackmailing him. it is questionable if they want their content next to those commen. this looked to be a scof a man under pressure. debtaymentcoming up.ng off the he paid $44 billion r itter, now x, and that valuation has plunged. advertisinis the maineissue on

the platform. >> arjun, we are graced by your reporting. great to have you here. maybe no comments about his advertising statements and expletives there. what about the comments of a.i.? musk has been a focal voice with the dangers of a.i. i imagine a.i. is a hot topic. >> reporter: absolutely. two camps in the debate. there is the elon musk side who says a.i. is a threat to humanity. we need to be careful how it is developed. the other side is saying those people are fear-mongering. they are doing it so regulation comes in place and helps the big companies out. that is the two sides of the debate. that is playing out here in europe. one of the things in the european union is the a.i. regulation going through the legislative process at the

moment. it is expected to come into force soon. there are two sides. the eu lawmakers saying we have to regulate this stuff now before it is too late and the industry is saying you can't regulate this now. we don't know the full potential of it. all you're doing is putting europe behind the u.s. and whine when it comes to the development of a.i. that's from the european perspective and what is playing out here is the debate playing out in the u.s. as well. it is clearly one which doesn't have an answer. i think it is fascinating to see. it is clear the big u.s. companies have taken the lead. the chinese companies are also closely behind with the europeans trying to find their feet. a number of interesting deals in the past few months with startups have raised millions and millions of dollars from vcs brinon a pyer to compete wi withhe u.s. and chinese tech

joi giants. >> great reporting, arjun kharpal. thank you. reuters is releasing a statement that opec plus has a preliminaragreement. opec agreeing to cut of 1 million barrels per day. is now moving higher. stay with us. with cirkul, your water is deliciouslflavored at the turn of a dial, with zero sugar and zero calories. and cirkul has over 40 flavors, so your water can be as unique as you are. try cirkul. your water, your way. now with even more flavors. available at walmart or drinkcirkul.com. meet gold bond daily healing. a powerhouse lotion that moisturizes, heals,

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welcome back to "worldwide exchange." we have the wex wrap-uhere as disney adds james gorman and jeremy darroch as new directors

to the board. anin china, factory activity drops for the second straight month in november. shares of salesforce moving higher after topping estimates. the company reporting a 11% increase of revenue. nascar inking tv deals with amazon and warner bros. and fox. deals worth $47.7 billion. that is according to the wall street journal. and gamestop shares that it posts the best daily performance in two months. let's get a check of how the markets are closing out november. dow would open up almost 200 points higher. for more, let's bring in amy zhang. a top mappnager of 2023 by

morningstar. >> good morning, frank. >> the dow would open up 200 points higher this morning. give us a sense of the day ahead. what is your wex wd of the da >> comeback. small cap growth scks is in a bear market for alst three years and largely due to the peri of rapirate hikes. as you have seen, the headwind is turning inta tailwind owly. definitely in 20, i think that should be a strong comeback year. >> one of the things you are lookinat here is s&p 500 small cap index. a couple of etfs we will show you right now. why not just the russell 2000? >> i think it is a growth inx.

s&p index is trading at a steep discount at 22% of the s&p 500 at the moment. historically, you know, in the last 20 years, the average premium is about 14%. you can see the valuation gap is really wide. you could drive a truck through it. we really expect that gap to close and you are seeing some of the reveion and we think there is a lot of catch up lefin the year to come. >> small-cap groh is at a i wa to get yr picks. one is a software company. >> this is one that uses

predictive engine and generative a.i. to turn data to actionable insight at pros. pros has over 30 years experience blding a.i. and machine learning algorithm. that is their secret sauce. the company spent 25% to 30% of revenue on rr&d. those are coming to fruition. the compy this year has reached an inflection point of being cash flow positive. we think it is really well positioned to accelerate growth with continuous margin expansion in the next three-to-five years. >> special sauce. a personal favorite of mine. wing stop. i order from there on sunds watchingootball. this is not a restaurant coany, but tech company.

give us the elevator pitch. >> it is a special company. it is really a tech compy. it has done a great job of digital transformation. in fact, the company wanted to have every transaction digitized and tremendous customer data that they can turn that data into actionable insight for themselves. better engagement. in terms of the business, it is a a capital light model. one of the highest of cash return being 60%. it is an attractive company and sametore ses groh. rowth and >> up % for the year amy zhang, thank you. >> thank you, frank. one more quick of futures before we go. dow would op up 200 points higher. s&p and nasdaq abo .25%

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good morning. israel and has extending the cease-fire by a day after the last-minute deal to release hostages in a deal to release pri prisoners. and salesforce jumps on the guidance. and elon mk apologizing for seemingly ving credit

den credence for anti-semitic comments. we will show you what said. maybe not uncut. it is thursday, november 30th, 2023. "squawk box" begins right now. good morning. welcome to "squawk box" here on cnbc. we are live from the nasdaq market site in times square. i'm becky quick along with joe kernen and andrew ross sorkin. he is back from the deal book conference. congratulations. >> what are they saying? was your mind mush? >> my mind is mush right now. it has to be.