breaking news this morning striking boeing factory workers rejecting the latest contract offer voepting to continue the x h -week long strike. shares of tesla surging after third quarter earnings surprise in a very upbeat sales outlook. tesla says the cyber truck is now making money. boeing and tesla moving down in different directions with boeing off the biggest daily drop in six weeks.

it's thursday, october 24th, 2024 you are watching "worldwide exchange" here on cnbc good morning thank fors so much for being wih us i'm frank holland. we will get to the stock movers in a moment. take a look. a bit of a mixed picture here. the s&p up fractionally. up almost about .50% on last check. the dow would open 40 points lower. it's really the nasdaq up .75% of 1%. keep in mind, the dow and s&p are riding three-session losing streaks. we are checking the bond yields. coming up, we will dig into why the fed's path of lower rates is not translating into lower yields why a trump or harris victory to mean for the ten-year.

4.20 since the fed rate cut, the ten-year yield bump up important to note, the two-year yield above 4% we want to do a quick check of nvidia and apple after a rough day for tech a 2% drop for apple and nvidia a bounce back this morning apple up .25%. nvidia up 1.25%. let's get to the breaking news striking boeing workers rejecting the latest offer by a 64-36 margin members of the national association of machinists voting instead to continue the six-week long strike. you see the impact. it would raise pay by 35% over four years and improve retirement benefits. boeing is not commenting on the results. joining me with reaction is peter mcnally, global sector lead analyst

peter, good morning. >> good to be here. >> we see the stock moving boeing shares down 3%. this is a setback for the aerospace giant. how big of a setback is it >> well, it hurts. our experts have been through these, you know, types of events with boeing. estimates the process will take 13 to 14 weeks and we're right in the middle here insurance ran out earlier this month. the squeeze will start to occur on the rank-and-file in the union and you get closer to, you know, finding a deal i think the big story yesterday from, you know, boeing, was that cash flow or pre-cash flow in 2025 is going to be negative even with the settlement i think that caught some investors by surprise. we saw the stock take a leg down and, you know, as far as the coming weeks, it will be harder for boeing to raise capital without having that certainty.

>> peter, let's get to it. we had a guest on yesterday saying the new ceo kelly ortberg was get the union deal done. that didn't happen the second was the capital raise. boeing estimated to burn $4 billion in q4. they have $10 billion on the balance sheet. how important is the capital raise and the fact it is delayed now they don't have a union deal how big of a deal is this long term >> look, if it gets settled in the next couple weeks, in the long term, we will not notice it too much if they want to keep an investment grade rating, they have to get this done sooner, rather than later. they have to drawdown the inventory sitting on the balance sheet and unlock some cash that's not really going turn, you know, at least on boeing's estimates until the second half of next year you know, they do have a couple

longer term problems that will be harder to do than settling with the union or raising a few million dollars in capital >> i want to play a sound bite from kelly ortberg on cnbc i want your reaction. >> i don't anticipate any loss of demand for the aircraft the aircraft is a beautiful aircraft people still want the airplane obviously, they want it as soon as possible. the strike has impacted our test program. so, we've rolled that into our new forecast and delayed deliveries a bit >> i heard from kelly ortberg. the other air mlines and their shares up up in the pre-market put of put this in per pecspecte

for us. >> the world doesn't have enough airplanes to meet long-term demand we've seen very healthy backlogs sure, boeing flattened out a bit. you are ordering planes years and years in advance we understand hesitancy to the backlog. ai airbus is in a good place. airbus is delivering a quality product. people really want and come to dominate the asian market which is important for growth. that is likely to continue, you know, here into the future as far as customers go, it hasn't been devastating. southwest earlier this year back in march, you know, talked down guidance because they weren't going to get planes. the industry has been able to run the existing planes harder we've seen this. united is doing this successfully it ends up being a big win for the leasing companies who come out of this looking really,

really good and in a strong pricing position. >> peter, almost out of time a very quick answer from you if you don't mind this will crisis for boeing lead to more customers shifting to airbus long term >> we don't think so likely. you know, it's -- it's complicated because you have to train all your pilots on one plane. these efficiency in that running an airline, low margin business, and suddenly mixing in new planes, particularly if you are a smaller plane. a major carrier, united, delta, american, that is different. we have seen united order airbus a-321s, but their fleet is managed and run on boeing aircraft. >> okay. peter mcnally, thanks for being here. turning to other top stock stories of the morning tesla shares are rocketing higher on the surprise third

quarter eps beat and bullish comments from elon musk on 2025 deliveries margins are key impressing the street arjun kharpal is joining us with this story arjun, good morning. >> this is a sigh of relief for tesla and investors. expectations were low coming into this. it has been a rough time for the company in terms of demand and the pressure on margins. what elon musk needed to show after the recent robotaxi event which had a few details was the core tesla business was back in the right lane return to growth rising 2% year on year to $20 billion, but central to the quarter was profitability. as you mentioned, margins, which is what the market was laser focused on 20%. a jump from the previous quarter and the automotive, excluding gross margin, over 17%, beating

wall street expectation. remember, tesla's margin was hammered by the price cuts it enacted to stoke demand amid rising competition one question is how much the margin is supported by the regulatory credits these are credits tesla sells to other automakers right now, the market is very happy. tesla looks back to being on track and the focus now turns over to next year. >> you know, in all fairness, arjun, they beat on margins. that was a boost to the stock as well for investors i want to talk about another key thing for tesla. did we get more visibility on the low-cost model that is supposed to come out next year >> there were a few comments around that, frank musk said that would come out in the first half of next year and said it would cost less than $30,000 when you take out subsidies. he had expectations.

listen in to what he said on the earnings call. >> take a bit of risk here, i do want to give some rough estimate which is i think 20% to 30% vehicle growth next year you know, notwithstanding negative external events geopolitical events or some big war breaks out or interest rates go sky high or something like that >> so that's bullish that 20% to 30% growth musk spoke about is predicated on the lower-cost car coming to market to note on the cybercab as well, frank. elon musk saying this can get to volume production in 2026 and tesla is aiming for 2 million units a year in terms of production of the cybercab we know elon musk has a history of promising things. now talking about the affordable model this year and that is

helping the pre-market pop. >> tesla shares up 10% right now. we are looking at the ev stocks. they're all up uber and l yiyft are actually d. arjun kharpal live from london thank you very much. a lot more to come on "worldwide exchange," including the one word that investors have to know today. first, my next guest remains bullish despite a turbulent week for stocks and your election playbook is not doing much to bring treasury yields back to earth. and what investors need to know beyond the headline estimates. we have a very busy hour ahead when "worldwide exchange" returns. stay with us

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welcome back to "worldwide exchange." taking a look at futures a mixed picture. the dow looking like it would open 40 points lower nasdaq lower .75% of 1%. stocks are rattled by rising bond yields. tech hit harder with the nasdaq coming off a 1% loss for more on this, let's bring in ross mayfield from baird ross, good morning. >> good morning. >> we have seen the bond yields rise the ten-year yield up over 50 basis points we see yields rise and things like that happen, tech is a safety play.

why is tech selling off? apple with iphone news and amazon down. what was going on? >> yeah, it's a great question i do think tech has been relatively weak versus the market for much of the last three months i think on the back of the better than expected economic news, you've had some of the rate sensitive views i do think that because this move in rates seems to still be driven by strong jobs report and better than expected economy and maybe limiting the fed rate cuts, you are seeing maybe some cyclical names continue to hold that relative leadership at time tech has a little bit of work to do to get back to leadership position some of the corporate updates this earnings season could help. there's a bit of a way to go there. >> you mentioned earnings season earnings season has been a bit rockier than expected.

the estimates for this quarter are lower than the quarter ahead. i want to get your take. how do you think this earnings season, some of the reports that we've gotten are influencing investor sentiment we are hitting new highs is this earnings season potentially going to change the bullishness we're going to see overall? >> you know, i don't know if it will change the bullishness we're seeing overall, but it certainly feels in line with the mid cycle playbook with a lot wider dispersion with individual names and individual sectors and industries what's working and what's not and you are seeing the impact of the higher for longer rate environment and the corporate management has more of an impact on the performance versus the hyper low rate environment it wasn't necessarily the case i think you are seeing a bigger dispersion i do think it could impact sentiment if things were to take a turn by and large, you do have earnings heading in the right direction and you have big names

likes tesla reporting positive results. still overall in a good place. >> tesla having a positive impact on the market up double dig itdigits ross mayfield, thanks. >> thanks. in the new note, jpmorgan laying out what could happened to the two-year and ten-year treasuries if there say blue or red wave in the elections suggesting jumps of 50 to 40 basis points for more, let's bring in joanna. >> good morning. >> i want to get your take on that note from jpmorgan first. when you look at the outlook, they are saying this election has a big impact on bond yields. the biggest impact comes from the trump election and republicans taking one or both chambers of congress >> yeah, so both candidates once they're in office, there's a

potential for higher fiscal spendingiented agenda this would put upward pressure on prices and, of course, inflation. the market is reacting to potentially a little bit more of uncertainty and volatility until we get to the election it's also reacting to the sense that, you know, rates may not be coming down quite as fast as earlier predicted in september so, you are seeing something like a ten-year treasury going as high as 4.25 yesterday. there's a mix of things in here and there's a couple of ways you can think about it over the next two weeks leading up to the election. >> with this broad selloff in bonds,attractive what do you see as more an trktrk t attractive for investors >> it depends where you pick your spots.toric

highs since the gfc. you can always seek out really good income. also, you know, as you look across where the economy is, the economy is in a good place and corporations are able to sustain and pay their debt back. we like opportunities in corporate credit quite a bit i think there's two ways we are really -- our highest conviction is to get into high yield, actually, because companies are in good shampe they have been refinancing their debt fundamentals are strong. they are covering the debt ratios if you think of the high yield in the ccc section may be too much, you may go into higher quality yield like xbb which gives you still great interest right and coupon income and lower interest rates sensitivity or, you know, just considering investment grade debt, but

picking a better spot, the sweet spot of debt >> got it. going back to the other pick, x-ccc. joanna gallegos, thank you >> thank you. the wall street journal reporting keurig dr. pepper is buying energy drink maker ghost. take a look at shares of keurig dr. pepper moving up .80%. coming up here on "worldwide exchange," one year later and microsoft's most important a.i. product is still a mystery our steve kovach is on the case next stay with us pen your skills, you can stay on top of the market from wherever you are. e*trade from morgan stanley at betmgm, everyone gets a welcome offer. from wherever you are. so whether you're courtside trying to hit the over...

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welcome back to "worldwide exchange." it's been nearly one year since microsoft released copilot, but the product is not living up to its hype steve kovach is joining us with more >> frank, we are approaching one year since microsoft started selling the product copilot. this is, of course, the a.i. assistant microsoft started to selling to businesses. next week is technically the anniv anniversary. it is expensive.

$30 per user per month you can see why microsoft have an opportunity here. we still have no idea how well copilot is actually selling. w we have vague stats from microsoft including copilot customers increased from june quarter this year. more than 10,000 seats more than doubled. nothing in the stats tell us what's really going on it is hard to gauge growth when you don't know what's going. we don't know what productivity benefits are actually happening in the real world. feedback has been mixed starting with the cnbc survey of tech executive council members, these are the folks who decide what a.i. tech to buy for employees highlights here. 79% said they use microsoft copilot at the company, but only 50% said they deployed it to every single employee and 33% are still testing it with a

smaller group of employees half said it's just too soon to know if copilot is worth the price. a quarter of them said it isn't. and year end here, it is still a promise that more people are using copilot, but not part of every day life, frank. we have a long way to go. >> you are getting feedback from the survey with mixed opinions here i want to ask this is an a.i. copilot on the enterprise side on the enterprise side, they are trying to figure out if it is worth it is it anything with apple? >> not really. this is a different product than what microsoft is working on for example, this thing that is happening integrated with your phone, that is more user friendly more chatgpt versus something you use in the office. i talked to some ctos and cios in addiddition to the members

the ceo of vodafone, they are putting 65,000 copilot seats across the company he told me it takes a lot of training, that is, in order to get people used to using these systems. if you want to use it and get something out of it, it soubnds like a lot more training there is another github copilot that tech are using. >> steve, thank you. exan,"ucwi up here on "worldde chge mh more big money movers and why one appliance maker is calling out the election for stalling washing machine sales. we'll be right back after this >> announcer: the cnbc technical council is powered by comcast business powering possibilities

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extending the nearly six-week strike welcome back to "worldwide exchange." i'm frank holland. we will have phil lebeau with more for what's next in the standoff. let's get a check of the stock futures. st take a look. futures would open up 35 points lower. the s&p up 24 points the nasdaq is up higher .75% almost 150 points. the nasdaq bigger gainers in the pre-market tesla at the top of the list shares up almost 11% cfollowed b lam research and applied materials and kla up over 3% more on tesla coming up later in the show. first, a quick check of nvidia and apple after a rough wednesday in tech in particular. nvidia up almost 1% as well

right now in the pre-market. that is the money set up let's turn to the breaking news striking boeing workers restre rejecting the company's contract offer and continuing the six-week long strike we have phil lebeau on the news line with the very latest on this story phil, good morning always great to see you. boeing shares down 3% right now. >> they're down, frank, because everybody, not everybody, but investors were thinking this is the key catalyst for building the bottom of the stock. you get a deal done and you can move higher. a lot of things have to improve at boeing, but this is the first thing that needs to happen a critical step. it is clearly not going to 64% of machinistsrejected this contract that is the lower number who rejected the first offer in september. it's still a clear signal that the rank-and-file machinists

were not happy with the offer on the table. to refresh everybody's memory, this was calling for a 35% raise over four years. the signing bonus had been sweetened. they also added $5,000 one-time deposit into every machinists' 401(k) the annual bonus would be at least 4% despite this being a sweeter offer and richer offer than september. machinists are saying no, it's not good enough. one issue is the older members did not get reinstatement of the pension included in the contract that is a bridge too far for boeing from the beginning. i think boeing probably comes back with a sweeter offer or higher signing bonus or maybe other things to entice members to vote for this this strike now is costing the company an estimated $1 billion per month, frank again, it will continue for a

while. they will go back to the negotiations, back to the table at some point. i suspect maybe in the next week or two we get another offer, more enhanced offer for the rank-and-file to vote on. >> you are saying it could take a week or so to get another offer or vote. >> it won't happen overnight they'll have to go back and sweeten the offer here >> obviously, you have your finger on the pulse on a number of things. are you are talking to southwest and american airlines later today. the fact that production is slowed and boeing with the cash flow problems. you mentioned the cash burn. the company has $10 billion on the balance sheet. what's the broader impact? >> for the industry, you are just not going to see as many aircraft delivered as expected in the fourth quarter and that

extends into 2025. we are talking to southwest and american they have 737 maxes that they are scheduled to receive in the coming years they have droawn down expectations they may have to draw them down further. as for the cash burn and liquidity is approximately $10 billion. they are already set up to do a capital raise of anywhere between 10 and $15 billion it's just a matter of when they pull the trigger on that they would have preferred and still prefer to get a contract locked in so there is some certainty on the cost side before they go forward with that capital raise. the question becomes how long do they wait. they do have some time here. they also have brought up a credit line for $10 billion. they have things they can do so they don't have to make the decision immediately on the capital raise. >> all right boeing shares down 3% after

machinists reject the latest offer. phil lebeau with the latest on the story. phil, thank you very much. phil will have much more reaction with two interviews today. he speaks with the american airlines ceo at 7:30 a.m. eastern and at 9:30 a.m., phil sits down with the ceo of southwest bob jordan two exclusive interviews here on cnbc. coming up, tesla shares taking off after the quarterly profit beat. up almost 11%. we dig into the results and a very different story for ibm details on what is sending shares lower down 5%. we have much more when "worldwide exchange" returns stay with us

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now to the big money mover of the day tesla reporting strong third quarter earnings revenue rising 8% held by higher global deliveries. overall results getting a left from lhigher sales of regulatory orders of other automakers earnings up 11%. on the earnings call, elon musk sees improvement and sales next year >> i want to give an estimate of 20% to 30% vehicle growth next year you know, notwithstanding negative external events geopolitical events or big war breaks out or interest rates go

sky high or something like that. >> musk confirming tesla's scrapped plan for the $25,000 electric car let's discuss the quarter now more with george george, good morning >> thanks for having me. >> george, looking at the note, you raised the price target on tesla. you are at $278. what is the catalyst that made you want to move your price target higher? >> it was a few things first, the margins were exceptional. if you recall over last several quarters, tesla's margins have come down because they hneeded t cut prices the costs of production came down to levels they never before seen that bwas the first thing.

the second thing is the lower cost models in the first half of next year and as you played, elon musk said they would grow sales 20% to 30% next year what that means for tesla stock is the revenue and earnings growth will reaccelreaccelerate if you follow the growth rates for revenue, that stock very closely follows them we see that reacceleration which we saw since the first quarter and we will see tesla out perform. >> i want to go on margin. it's a tech company. it trades on margin minus the credits. it beat margin a bit estimate 16.3. the actual was over 17%. what does that tell you about the company going forward and settle thoughts that elon musk was distracted on the campaign trail? does this settle the minds of

investors in the near term >> at least in the near term what the company has said and elon musk has said consistently is their competitive advantage is manufacturing the machines that build the machine. they continue to show time and time again they are able to lower the costs of production and be the only or one of the only companies in the world that can make money in electric vehicles so, this is a consistent story behind tesla they're cars are great, but what they really have mastered is the ability to make them that showed up last quarter. >> let's talk about the broader sector right now on two different angles number one, ev stocks are up right now. we are seeing lucid up and rivian is up at the same time, lyft and uber is down. i believe that's tied to the robotaxi announcement they made during the call. give us color how you see tesla influencing the ev market and also the ride hailing market >> sure, over the last couple quarters people are concerned

that the ev market has slowed down that's fair because it has we actually put out a couple of interesting notes of what is happening in china in china, i.c.e. vehicles sales have collapsed in 2024 evs are actually doing well. we think that's a sign of things to come for the western world as evs continually proliferate. that's the first thing the second thing on autonomy, we are massive believer in autonomy we agree with elon musk. we disagree with some of his timelines. he was out there yesterday reaffirming the cybercab will begin production in 2026 and traditional tesla vehicles will be able to operate autonomously starting next year that put pressure on the ride hailing stocks we are a big believer in electrification and autonomy that is where tesla is focusing. >> george, quickly we have to get out of here

i have to correct myself li auto and xpeng were up. now they reversed in the red tesla results, is this putting pressure on their business now >> what we have seen consistently from china over the last, call it, nine or ten months, ev sales are picking up and i.c.e. sales are collapsing. the difference with tesla and the chinese competitors is tesla can make money for ultimate long-term staying important, that is very important. tesla has proven it cannot only grow and make a very good product, but do it at a price and with a manufacturing that consistently makes profit. that's the difference with tesla and the chinese compecompetitor. >> we see the chinese ev makers. that's why people watch "worldwide exchange. thank you, george. time for the other big money movers of the morning. ibm shares falling as third quarter revenue misses

businesses have been cutting back on long term projects centered around artificial intelligence which impacts sales from shorter term deals. revenue from infrastructure delivered. mattel forecasts falls short after the barbie movie which is fading away. the company is trimming the forecast ahead of the holiday shopping season. cost cutting efforts are boosting margins shares up 4.5% tmole -mobile reporting higr profit for the third quarter the launch of iphone 16 have been good so far. whirlpool shares expects a post-vote bounce with big ticket purchases and consumers return to normal patterns afterwards. shares up 3%. coming up on the show, the one word that every investor

needs to know today, and earnings including u.p.s. reporting in the pre-market. the key numbers you need to watch. we'll be right back after this break.

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(♪♪) ♪ well i was raised by careful hands ♪ ♪ yeah, they made me who i am ♪ ♪ so i'm off to see... ♪ we invent them. we design them. we build them. and one day, we have to let them soar. ♪ i'm always coming home ♪ welcome back u.p.s. results are out at the top of the hour. concerns about pricing in the parcel market and demand on the holiday season weigh on the stock. revenue increased 5% two big areas to watch is margin

for this quarter and guidance for the full year. margin estimates for the key domestic segment is expected to contract quarter over quarter. joining me now to pro eview u.p. earnings is ken. ken, great to have you back. >> great, frank. thanks for having me on bright and early. >> you are a bit below the street price target at 142. everybody is 136 are you worried about pricing or demand what are you looking for >> great question, frank we learned last quarter, the company moved to take on a lot of volumes companies like temu and shien with the low revenue volumes on the network. that jammed the network. you had the slide up on the margins on the domestic side that is the lowest of the year that is thin when you think

about what the company used to do in the mid single to mid teens. getting 5% margins highlights a lot of network there is not a lot of value in the packages pricing is key we are looking for volumes to be up -- sorry, prices to be up this is a volume up order. it would be the first time in seven quarters it is taking on the lightweight volume while the market is in flat mode. >> ken, explain this to me you and others are worried about demand, but u.p.s. is raising prices 6%. fedex is doing the same in january. if there are issues with demand, how are they raising prices? >> i think they are looking at the volumes they are taking on you have tough moving on the network. you are not getting appropriate returns for the investment you have to make if you want the quality of the u.p.s. network, you have to pay for it

it is different with competition from amazon and the post office. there is value of what u.p.s. and fedex provide. they are willing in a low demand environment to take on any volume they could. we saw last quarter a large surprise on the negative margin, but below expectation. that hurt the stock. >> under pressure is fair to say. i have to ask about the election the possible impact on the logistics industry and stocks like u.p.s peers at wells fargo and one name impacted negatively a trump win. agree with that take do you see an election impact on the parcel business? >> just brought up the election overall. choose different policies you want to talk about are we talking about tariffs coming in? lower or higher tax rates? it depends on where the question comes from obviously, if we have tariffs,

things coming from asia are going to slowdown if we are increasing pricing or regular packages from asia that would slow therefore, you would have, if you are moving to domestic production, you have the potential of moving raw materials domestically and finished goods, so you touch the goods twice. the supply chains take a while to get up and running. there will be initial impacts and winners over the long run. >> ken, thank you very much. coming up on the show, the consumer facing a whipsaw list. and cnbc ishonoring national disability awareness month. here is the ceo of breeze airways. >> as a child, i struggled in school and told i was stupid and because it was really difficult for me to learn how to read and do other things.

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welcome back to "worldwide exchange." we close in on the 6:00 a.m. hour, we bring you breaking news boeing rejecting the latest offer that included 35% raises and a $7,000 signing bonus boeing is declining to comment on the results. europe's top court ruling in inn intel over the fight with regulators for giving rebates to computer makers for buying most of the chips from their company. mcdonald's onion supplier has yet to track down traces of e. coli in the products. it supplies u.s. foods which told one customer to destroy any onions sourced from there. the u.s. department of

justice sent a letter to elon musk's pac saying it is violating election laws on the $1 million give away elliott and southwest deal is imminent. a deal could be announced as soon as today. shares of peloton surging in late trade yesterday after comments from david einhorn that he thinks the company's stock is overvalued shares are up nearly 1%. stocks trying to claw back yesterday's losses look at the action in the futures. it was a bit mixed the dow hitting the lows of the morning looking to open 60 points lower nasdaq surging up .75% let's bring in matt powers at powers advisory group. matt, good morning >> good morning, frank. >> what's your word of the day >> the word of the day is rebound. it is not just a basketball

reference. i know this is not a sports show my celtics started with a strong win. taytum put up a strong stat line that's not why my word of the day is rebound the company i picked has the ability to rebound after a tough year year >> let's talk about tech before your pick. nvidia was under pressure and apple under pressure with the report on the iphones. when you look at tech, it has been a safe haven with bond yields rise. what do you think about the action yesterday and where would you put money to work? >> so, you know, it's what we see is there are less obvious opportunities today than a year ago at this time we might be looking at a period where it is more company specific than sector specific. you know, we look at companies with positive year over year earnings growth. the fundamentals are in tact and

haven't appreciated the market a handful in particular we like. >> a lot of people liking dividends right now. i want to get to a pick. starbucks. you have to explain this to me starbucks shares are up since brian niccol took over yesterday, what a warning with the business and pulling full-year guidance what are you seeing there? >> polarizing, no question they released early q4 results ahead of next week's official reporting. they missed across the board they did it to get ahead of the news cycle i was on two months ago and prices hit starbucks and it was a mistake in timing. what they have been doing isn't working. they separated the numbers, the results, from the message they will deliver next wednesday which is they will focus the earnings call on the business and turn around. >> the other pick is fedex quickly, you would buy fedex

ahead of u.p.s. results? are you confident with fedex ahead of what we hear from u.p.s. >> it looks like a decent core holding. they are facing a tough downturn due to the pandemic oversupply freight capacity it is a strong cyclical. >> we have to go that's going to do it for us here on "worldwide exchange. futures are mixed. "squawk box" starts right now. good morning boeing machinists union voted to reject the latest contract extending the more than five-week strike airlines set to report the report that southwest is near a settlement with elliott management to end the proxy fight. tesla shares soaring after a big report yesterday earnings, revenue, guidance, it was all pretty upbeat,

especially for 2025. it's thursday, october 24th, 2024 still believe me, it will go quickly "squawk box" begins right now. good morning, everybody. 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. let's take a look at what's happening with the u.s. equity futures. dow is lower this morning. boeing shares are down after the machinists' strike that joe mentioned. s&p futures are up 23. nasdaq indicated up 150. it does come after a pull back yesterday for all three of the majo