is how much more will he have to pay? >> a lot of the revenue streams are guaranteed. >> team values continuing to soar. >> the countdown is on. cnbc sport. official nba team valuations revealed friday in squawk box. >> it is fabian. >> here at cnbc global headquarters. welcome to worldwide exchange. >> here is your five and five. >> jay powell doubles down on the fed. pause. we look at. >> the impact. >> on wall street. >> we do not need to be in a hurry to adjust our policy stance. >> investors are now. >> focusing on day two. >> of powell's. >> testimony with. >> the. >> latest inflation. >> report before the open. >> in washington. elon musk joins president trump. >> defending the department of. >> government efficiency. >> the people voted. >> for major government reform. there should be no doubt. >> about that. >> that was.

>> on the campaign. >> the president. >> spoke about that at. >> every rally. the people voted for major government reform, and that's what the people are going to get. they're going to get what they voted for. >> plus the one. >> mag, seven stock. >> win streak. >> and what. >> retail investors. >> are doing. >> now and. >> later. >> the. >> supermicro rollercoaster. >> it just rolls on. >> after a critical update. it's wednesday, february. >> the 12th. 2025 and you. >> are watching worldwide exchange right here on cnbc. >> good morning. >> thanks so much for. >> being here with us. >> i'm frank hollins. get you ready for the day ahead. >> we begin with the major. averages coming off a bit of a mixed day. the s&p. basically flat, the nasdaq lower. following jay powell's comments on capitol hill that. >> the fed. >> was in no rush. >> to cut rates. >> take a look at futures you can see. in the. >> red across the board. >> the s&p down. >> more than seven points. >> but basically flat. >> pretty close. >> to flat. >> fractionally lower. >> the dow looks. >> like it would. >> open 60. >> points lower. the nasdaq also just fractionally lower right now down about ten points.

>> want to take. >> a quick. >> look at the s&p 500 premarket laggards. we're going to start with the laggards this morning. you see right here at the top of the. >> list netapp those shares down about. 3.5% followed. >> by. >> arista networks. >> eversource energy, lennar the home builder and iron mountain, all on the. bottom of the s&p. 500 in the premarket. and we want to take a look at the gainers as well. the stocks that are leading right. >> now. >> we're seeing supermicro. we're going to talk a bit more. >> about that. >> stock in. >> just. >> a second. >> gilead sciences. >> edwards life. >> sciences, nxp. >> semiconductors and mohawk industries. >> on the top. >> five right now. so we. >> continue to watch stocks. >> tied. >> to tariffs on aluminum and steel this morning. we continue to see movement in the premarket. >> nucor up. >> fractionally cleveland-cliffs also up fractionally. the big gainer this morning sentry. >> aluminum those. >> shares up about 2.5%. >> alcoa another big aluminum. >> producer also. >> up fractionally. >> right now. >> in the premarket. we're also. >> tracking two. stocks that are very closely. tied to. >> the. >> eye trade. >> let's start with one of the big winners here meta. >> on a 17 day win streak. >> take a look at. >> the chart right here. you can see just just a clear. >> upward trend when it comes. to this stock right now in the premarket up almost.

>> a half a percent. >> it's this longest daily win. >> streak ever. over that. >> time up. >> just about 18%. and then also. >> we're. >> looking at supermicro. >> we told. >> you to tell you a little bit more about that really. surging in the premarket this morning. we showed it to you up about. >> 6% after. >> saying it will meet a deadline to avoid being delisted from the nasdaq, also highlighting a full year. >> sales. >> guidance that came. >> in way. >> above estimates. >> with management. >> saying it's, quote. being conservative. >> taking a look. >> at shares. >> this. >> morning, you can see up just over. >> 6%. >> almost 7%. >> right now, about 6.5%. >> or so week to date. a lot of volatility. you see kind of the moves some concerns about it being listed a lot of volatility here. >> but week to date shares up. >> over 13%. >> we'll take a look. >> at the treasury market right now. bond yields. >> ticking up just very slightly on the. >> back. >> of powell's comments. taking a look right now. >> the. >> benchmark at. >> 4.54 moving a few basis points. >> but since the. >> inauguration a lot of announcements that people thought may be inflationary. we've actually seen bond yields ease a bit about 5 to 8. basis points. different story when it comes to the. short end of the curve though. the two year treasury. basically at the same level. it was on.

>> inauguration day. >> and we'll take a look at oil on pace for a winning week this week. despite some concerns about tariffs hitting demand right now, however, saying oil pulling back wti crude, the u.s. benchmark, down. >> about 1.25%. >> brant crude, the international benchmark, falling about 1%. a similar story for natural gas, falling about three quarters of 1%. all right. >> that is your setup. >> let's now see how europe is shaping up. >> as this trading day gets underway. >> our julianna tatelbaum is live in our london newsroom with a look at the early action. julianna. good morning frank. >> good morning. >> well, so far in europe, we're off to a positive start. >> european equities moving modestly higher. >> building on yesterday's gains, we. >> hit another record. >> intraday high. >> for the. >> main benchmark. >> the stoxx 600 yesterday. >> you can see here. >> every major region. >> is trading. >> higher this morning ftse 100in the uk, the xetra. >> dax in. >> germany the french. >> market and. >> the italian. >> equity market. >> we're watching the drinks makers quite closely this morning frank. and lately we've been talking all about how people aren't consuming as much alcohol lately, the younger generation. it's been a story on both sides of the atlantic

today, a very different story out of heineken and very different in the fact, in the sense that the. company beat expectations after seven quarters of missing analyst expectations. so this morning, heineken posted a net profit rise of 8.3% for the full year. that was ahead of forecast. >> and its. >> own guidance. the dutch brewer saw beer volumes rise 1.6% on the year on an organic basis. and they announced a ■k75 billion buyback program over the next two years. and my oh my shares have been rewarded for it. the stock is up nearly 12%. it was actually halted in early trade, and it's having a spillover effect on the other drinks makers. >> we're seeing. >> strong demand for the likes of carlsberg this morning, ab inbev as well. you can look at the share prices of those big names. now it's not time to get overexcited, but certainly a bright spot in what has. been quite a dire period for these companies. >> frank juliana, thank you very much. our julianna tatelbaum live in our london newsroom. >> time now. >> for a check on. >> some. >> of this morning's top

corporate stories. silvana henao is here with those. silvana. good morning. >> hey, frank. good wednesday morning. to you. >> well, let's start with citadel ceo and republican mega-donor ken griffin. >> sending a stern warning. >> over the negative impact from president trump's approach to u.s. trade policy. speaking yesterday at the ubs financial services conference in florida, griffin told attendees, quote, from my. vantage point, the bombastic rhetoric, the damage has already been done, adding, it's. >> a huge. >> mistake to resort to this form of rhetoric when. >> you're. >> trying to drive a bargain because it tears into the minds of ceos, policymakers that we can't depend upon america as our trading partner. california regulators say they plan to impose a $1 billion special assessment on private insurers to shore up the state's insurer of last resort. that's also known as the fair plan. following the devastating l.a. wildfires that could end up costing insurers an estimated

$75 billion. state commissioner ricardo lara says the assessment is necessary to continue paying out claims to fire survivors, and the wall street journal reports white house officials are discussing plans to consolidate federal banking regulation without congressional consent. now, according to the report, trump advisers and allies are looking at ways to collapse the fdic into the treasury department and combine the agency's role with the office of the comptroller of the currency. now, the reported move follows the dismantling of the consumer financial protection bureau. last weekend. the journal adds staff inside the fdic and occ expect to hear from d.o.j. in the coming days. >> frank. >> all right, savannah, thank you very much. see you a bit later on the show. all right. we'll turn our attention now to washington. and an unusual scene in the oval office. >> late yesterday. >> tesla ceo and department of government efficiency head elon musk. he joined president trump for an executive order signing,

further empowering doj's oversight within federal government agencies. nbc's alice barr has much more. >> on this. >> story from washington. >> new overnight, the trump administration taking more action against the u.s. agency for international development, firing the humanitarian aid group's inspector general a day after the independent watchdog filed a report warning of dangers from the agency's massive cuts. that's according to a letter obtained by nbc. >> news. >> usaid, an early target for cost cutter elon musk, who joined president trump in the oval office. >> the people voted. >> for major government reform, and that's. >> what people are going. >> to get. >> president trump signing an executive order giving musk and his department of government efficiency more power. over the federal workforce, even as the group's work faces mounting legal challenges. >> yesterday. >> an appeals court rejected the trump administration's effort to reinstate a funding freeze, and federal worker buyouts are on hold. the president saying he'll abide by court rulings and

appeal, while noting. >> we want. >> to weed. out the corruption. and it. >> seems hard to believe that a. >> judge could. >> say. we don't. >> want you to do that well. >> so maybe. >> we have. >> to look. >> at the judges, because that's a very serious. >> president trump and musk saying he's found billions of dollars in fraud and waste, but not providing specific evidence, while three administration officials tell nbc news two top officials in the ice enforcement division have been reassigned because the white house is frustrated, migrant arrests and deportations aren't moving quickly enough. the trump border czar asking senate republicans for more funding to speed one of the president's top priorities. and as he. >> defended his team's cost cutting moves, elon musk also rejected concerns about conflicts of interest from his business's massive federal contracts. he said that he expects to be fully scrutinized. frank. >> all right. alice barr reporting from washington. alice, thank you very much.

turning our attention back to the markets, they're gearing up for today's cpi data. given our first look at inflation in 2025, the core rate is expected to slow very slightly, just a basis point since last month. investors will also be watching fed chair jay powell. he's back on capitol hill for another day of testimony on the economy. powell second day. it wouldn't normally get as much attention. but lawmakers they could ask for his reaction to cpi. yesterday the fed chair told the senate banking committee the fed is in no hurry to lower its rates. if the economy remains strong and inflation does not continue to move sustainably toward 2%, we can maintain policy restraint for longer. if the labor market were to weaken unexpectedly or inflation were to fall more quickly than anticipated, we can ease policy accordingly. >> for. >> joining me now is gene goldman, chief investment officer at cetera financial group. gene good morning. great to see you. >> hey good morning frank. >> how are you? >> so, gene, i'm looking at my notes right now. you say the fed's not as good of a friend as

we kind of thought it was before, but i want to ask you, doesn't a good friend tell you the truth? i think jay powell has been very forthcoming. he's been transparent. isn't that good friendship, at least on the investor side of this, because it can help you make your decisions a bit better? >> no. >> and frank, that's. >> a great point. you know, our. >> one of our biggest themes last year was the fed goes from being a foe to a friend. they go from raising the cutting interest rates and they cut by 100 basis points. >> this year. >> though. >> as we laid out. >> 2025. >> we said the key thing about the. >> fed they're. >> a friend, but not a. >> good friend. >> they're a friend because they're not raising rates. >> definitely they're not going. >> to raise. >> rates this year. >> but they're not a good friend because they're not raising rates. they're not going. >> to cut rates as much. >> as they said they would last year. so if you look at market projections, the fed is actually following the market. usually the market follows the fed. so if you look at. >> year end. >> projections the market. >> is saying. >> zero to maybe one. >> rate cut. >> this year. >> you know you look. >> at the. end of the year. >> rates expectations. it's around 4%. >> or so. >> the fed. >> said in december they. >> would cut rates. >> twice this year. >> in september they'd cut rates four times. but you've. >> got the fed saying, you know.

>> higher inflation. >> you have. >> a resilient economy. >> you have uncertainty around the trump tariffs. >> you take this together. >> plus recent. >> fed speak. >> yesterday williams. >> yesterday powell yesterday. >> all saying that the fed is likely on hold for. >> a long time. >> our theme for this year is none and done. no rate cuts for 2025 okay. >> you don't see any rate cuts coming. that's a very interesting thesis because. let's go to the new trade that you came up with. i actually enjoy acronyms. you came up with a new one. it's the shaq trade. it's small caps. >> health care, i. >> and quality. i'm a big fan of shaq himself by the way shaq if you ever want to come on open spot. but if you don't think there's any rate cuts, i do want to ask you about the s and that shaq trade the small caps. doesn't that kind of break down the idea that small caps are going to benefit or be a big winner this year? because the whole thesis there is leverage with the idea that with rate cuts, they'll be able to take advantage of some of the leverage they have. >> yeah. no it's. >> true point. >> and again. >> going back to the shaq. >> you know the nba all star game is this weekend. oh and i love shaquille o'neal especially when he came to play for my celtics. and our best investment investment ideas are shaq you know small cap healthcare

artificial. >> intelligence and quality. small cap. >> we like it a lot because you have cheap valuations. >> yes. >> they tend to do really well when rates do come down. but rates are not rising higher. and we saw. the small business sentiment survey. >> that came. >> out yesterday. the numbers were pretty good. optimism and especially business sentiment has improved since we've seen the. republican administration coming to washington. we like small caps again, valuations, some opportunities. and then you tie. >> in a little health care. i think healthcare. >> is really attractive given advances in biotech, personalized medicine, health solutions. and then quality. >> quality is key by. >> quality names. >> all right. so i want to stick with this trade theme here. by the way you mentioned health care. obviously healthcare is seeing a big rebound this year after it was kind of a laggard last year. but a key part of that in your thesis is biotech, which is supposed to benefit from rate cuts. but i just want to go back to the idea of ai. isn't ai right now the trade at least. very similar to shaq on your celtics? i don't think you have a good memory about this, but that shaq couldn't perform the way it used to and was having a lot of problems just

kind of getting going. >> it seems like. >> the ai trade is very similar to that. if you look at the mac seven this year, kind of not it's not a leading, it's lagging along with the rest of tech. so a lot of parallels to shaq on your celtics. are you getting concerned about the ai trade and some of the thesis there, whether it's chips or the fact that this. is a safety trade when we're not as clear about the fed, seems to be breaking down, at least in the early part of this year. >> yeah, definitely. >> and please stop. >> bashing myself because they won this championship last year. but i within the ai, artificial. >> intelligence and automation. i think i you need to be very selective. >> i do believe given. >> the fact. >> that. >> we're seeing labor market uncertainty, you know. >> immigration, you. >> take this. especially those industries that. >> are very labor intensive. >> health care. >> logistics, finance. i do think. >> artificial intelligence and especially automation are going to be so very important. >> we are in a data revolution. we are getting so much data out there, but we need these large. >> language models. >> to go. >> and sift through this data. >> to make it much. >> more productive for us to use. and i do think, yes, there's. >> going to be some volatility,

there'll be some uncertainty. there's going to be some questions. >> in terms of did companies spend so much money on ai. >> but i do. >> believe there's some opportunities here still. >> all right. gene goldman great to see you as always. thank you very much. >> thank you. >> thanks, frank. >> all right. we got a lot more to come here on worldwide. >> exchange including housing stock, the housing stock investment that one investment manager says is worth buying on the way up. but first, drilling down on one of the most sought after stocks when it comes to retail investors and what that means for the broader markets. plus, bill lee from the milken institute is here looking ahead to the first cpi report of 2025. and then later, lawmakers are struggling to keep pace with president trump's policies and his agenda. but some are taking a key first step. today we have a very busy hour still ahead in worldwide exchange returns. >> good morning with local acts. good good good morning. >> hey. yeah. >> frank dulcolax chewy fruit bites for. >> fast and gentle. >> constipation relief. >> in as little as 30 minutes. >> making your good morning even

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at it and i. >> like it. i'm so happy with it. >> welcome back to. >> worldwide exchange. turning back to what has been one of the hottest stocks of 2025. that's meta. you see the chart right there riding a 17 session win streak, its longest ever and also the longest for any magnificent seven name during this win streak. shares up about 18%. the meta surge appeared to come at the expense of nvidia and tesla. the ev maker is down almost as much as meta is up since that win streak began last month, but that's apparently not stopping the retail crowd from buying the dip. joining me now is marco iachini, vanda research senior vice president. marco. good morning. great to have you back on the show. good morning. >> good morning. >> welcome. >> good to be back. >> yeah. >> great to. >> have you. let's start off with meta. how are retail investors looking at meta right now? huge win streak. we just talked about it. longest win streak for mag seven member

ever. shares up about 18% over that time. >> yeah absolutely. >> so retail. >> investors do love meta. >> there have been. >> big buyers over the past few years. but going. >> back to the chart that. >> you. had just a. >> moment ago, actually one of the. >> things that. >> we're seeing is a bit of a rotation out of nvidia. >> which i think. it's showing. >> a. >> bit of. >> an interesting dynamic that is happening. >> in the ai space. >> i heard you. >> talk about to your previous. >> guest just a moment ago. >> so while. >> meta is. >> rising and is. >> seeing obviously some tailwinds from retail investors, i don't. >> think. that's the main story. >> the main. >> story has been more on the nvidia side and also tesla. that you mentioned. but on nvidia, what's been really. >> interesting is that. >> as the. prices rebounded after that, that. deep sea monday. news that has really taken the stock tumbling. >> what we're seeing is retail. >> investors are capitulating. >> as the stock. >> is rebounding to. >> us. >> here at vanda. >> that's a. >> clear sign that as investors. retail investors are stepping. >> out. >> somebody else is moving in. >> and by process. >> of elimination. >> that means that the smart money crowd is stepping. >> back. >> into the.

>> stock and still believe in. >> believes in the. >> ai story. >> all right. right now we're showing a year to date chart of nvidia. you mentioned since deep sea we've seen the stock rebound. so just just. >> for. >> clarity for the audience, if you look back on january 27th stocks down about 6.5% since then. but if you look at the chart from them you do see the big rise. so how are retail investors playing this what you're calling a rebound in nvidia as we see it try to recover from some of those deep seek losses. >> yeah absolutely. and thanks. >> for. >> clarifying that. >> obviously the stock. >> is. down but has rebounded. about 14%. >> since the post deep sea trough. >> what happened is. >> that during deep tech monday. >> on the 27th. >> of january, the institutional supply. so the institutional investors selling out of the stock because of those concerns. it was. >> a bit of a moment of shoot. >> first, ask questions later. but retail. >> investors stepped in. >> to buy the stock heavily like it was a record day in day inflow for nvidia, with. >> $560 million. >> of inflows from retail. >> investors on the 27th of january. >> but obviously. >> that was not enough to

counter the institutional. >> demand or the institutional supply. selling the stock. >> obviously, things have started to turn around and the stock has rebounded about. >> 14% since that. >> trough after. >> the deep. >> sea news. and as of what i was alluding to, is that retail investors have. really scaled. >> back their participation. >> and they've started even selling some of those leveraged etfs around nvidia that they had become so accustomed to buying. so to me, seeing the stock rebounding and retail investors selling again tells me that by process of elimination, the smart money crowd is back into this trade and is. given a. >> bit of a vote. >> of. confidence into the nvidia and the ai trade. >> yeah, one of those levered etfs you were talking about that retail investors are trying to get out of was the nvda. it's a levered etf for nvidia shares. so a very interesting story and a very interesting shift for them. one other area of the market that these retail investors are getting interested in is gold actually. so tell me about that. the relationship between gold and bonds. as for retail investors, as we see a lot more uncertainty in the markets with tariffs and other shifts in trade policy. >> absolutely. and obviously. >> today is also. >> cpi day.

>> so what. we're seeing we're. >> seeing a bit of. >> a pickup. >> in. >> buying of gold. >> we're not at levels that would really give us concerns. >> of retail. investors being. so concerned about the macro or the growth picture. but it's a bit of a hedge. >> and you. >> see that because. also what they're. >> doing is that they're selling bonds, right. if they were so worried about the macro and growth environment, you would see purchases of gold and bond rising at the same time. >> but the fact. >> that they're buying gold and selling bonds is specifically what we've noted. we've noted that they're selling corporate bonds. it tells you that there's a bit of a of an inflation hedge happening here. so not massive concern from retail crowds, but definitely as they're buying, they're continuing to buy the momentum stories in the i trade their hedging their. >> book a bit. >> especially ahead. >> of today's. >> inflation print. >> all right. really interesting. one other other area that we talked to you about was the quantum trade. the last time you were here. we have not spoken. about it since then, i don't think i think that trade is kind of cooled off. i'm just looking at the charts. it seemed like it was also impacted, at least to some extent, by deep sea. i'm looking at stocks like rigetti computing since deep sea down double digits. the etf that

tracks the quantum trade down just about one and a third percent when it comes to retail investors. however, are they still interested in this very speculative trade or have their interest. shifted shifted a bit. >> and that's a nice point you made. >> and that's. >> what we're trying to anticipate and allude in our last conversation. what we saw at the time was the inception or similar dynamics as typical thematic retail. >> driven bubbles. >> and what we're seeing right now is actually retail investors, as the stock has rebounded from a post peak bubble trough, they've taken that chance to sell out of the stock or reduce significantly reduce their purchases. so to me, that tells me that this was a brief story that potentially has structural long term tailwinds down the line. but in the very near term, at this moment, retail investors are trying to get out of that stock. whenever the stock or those stocks in the quantum space are ripping. and to me, that tells me that perhaps that support that had been so vital in late q4, in the very early days of 2025, now it's waning and

probably will continue to wane. >> all right, marco yekini, great to have you on. great to get inside the minds of those retail investors. by the way, one stock we didn't mention palantir. you say it continues to be one of the more notable chase stocks by these retail investors. got to have you back on to talk more about it marco. >> for sure. >> happy to talk about it. >> appreciate it. all right. still on deck here on worldwide exchange a high profile white house face to face when india's prime minister meets with president trump. what's at stake for investors when we come back? for investors when we come back? stay when emergency strikes, first responders are the first ones in... but on outdated networks, the crucial technology they depend on, is limited. that's why t-mobile created t-priority... ...the only solution built for the 5g era, that can dynamically dedicate up to 10 times the capacity for first responders. t-priority. built for tomorrow's emergencies. ready today. (♪♪)

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>> welcome back to. >> worldwide exchange. >> we have a news alert for. >> you this morning. reuters is reporting that president trump will attend a meeting of global financial leaders and tech executives hosted by saudi arabia's sovereign wealth fund in miami later this month. the report adds that the president will deliver an in-person address at that meeting. also, the ceos of tiktok and oracle are expected to attend that meeting. all right. back to. now to another high profile meeting. india's prime minister kicks off his visit to washington. that will include a meeting with president trump. trade is expected to be a big topic of discussion as the president continues to roll out new tariffs. our seema mody joins me now with much more on this story. seema. good morning.

>> good morning frank. well, prime minister modi arrives in washington. >> today and. will spend. >> tomorrow at the white house with president trump, where leaders of the world's two largest democracies will lay the groundwork for a trade deal. i'm told by sources that modi is coming prepared to make concessions on tariffs put on u.s. goods, including agriculture and medical devices, in hopes of receiving exemptions on steel and aluminum. the size of the tariff concessions, according to the people i've been speaking to, are still being discussed, but certainly could determine whether trump will give. >> india a key. >> u.s. ally preferential treatment. while india has enjoyed a strong relationship with trump during his first four years in office, modi will need to address india's growing. >> trade deficit. >> with our country. modi is expected to signal india's intent to purchase more liquefied natural gas and defense equipment, including. drones and missiles, to tackle that deficit. that's according to a conversation i had with a senior government official last night. in addition to meeting with trump, modi has one on one

meetings with treasury secretary scott bess and commerce secretary nominee howard lutnick and elon musk, where artificial intelligence policy, i'm told, will be high on the agenda. so among the topics, we're expecting those. >> two individuals to talk about, frank. >> yeah, a whole lot to talk about here. tariffs, energy buying, all types of things. one thing you didn't mention was china. does that factor into these discussions between modi and trump? >> yeah it absolutely does. i mean similar to the us. india very much views china as a strategic competitor. there has been skirmishes at the border between those. two countries, and india very much. sees their relationship with the. us as a way to counterbalance china's role in asia and to better compete with it on business. you know, seeing apple move production from china to india is a huge win for new delhi, and they're hoping more companies will do the same. and there certainly has been that story play out over the last couple of years with companies like google, microsoft and amazon investing billions in. >> the country. >> frank. >> all right. our seema mody

with the very latest on that story. seema. great to see you as always. thank you. coming up here on worldwide exchange, we have your big money movers. and there's just no love for lyft ahead of the open. you see the chart. shares down almost 13% while the full details worldwide while the full details worldwide exchange returns. stay with us. at morgan stanley, old school hard work meets bold new thinking. to help you see untapped possibilities and relentlessly work with you to make them real. you? >> ooh. >> with the most yield. >> ratings and complete. >> vehicle history from car gurus. >> that's how. boom. >> this is a landfill. >> is transformed what. >> you. >> think of as. >> landfills into engineering. >> marvels while helping to. >> protect the natural environment. learn more about our modern. landfills at.

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stance. we know that reducing policy restraint too fast or too much could hinder progress on inflation. at the same time reducing policy restraint to too slowly or too little could unduly weaken economic activity and employment. >> that was fed chairman jay powell throwing. cold water on hopes for more rate cuts, at least in the near term. during his testimony to lawmakers yesterday. powell heading back to capitol hill today following the latest read on inflation. welcome back to worldwide exchange i'm frank colin. coming up this half an hour. we're going to preview the cpi report. and what early trump policies what they could mean for prices and potential rate cuts. but first let's get you ready for the trading day ahead. we kick off the half an hour with a look at the markets, the major averages coming off a bit of a mixed day. the s&p basically flat, the nasdaq lower. following jay powell's comments on capitol hill that the fed was in no rush to cut rates. take a look at futures right now. you see right now actually the nasdaq just popped in very fractionally into the positive. the dow and the s&p just fractionally lower. the s&p down

about five points. the dow looks like it would open about 60 points lower right now we want to check some of the biggest nasdaq 100 gainers as that index just pops very fractionally into the green. taking a look doordash right here at the top of the list shares up over 6%, followed by gilead sciences, nxp, ptt holdings and diamondback energy on the top five and then the nasdaq 100 laggards. the other side of the coin right now, taking a look at those names, xcel energy down about 2%. tesla under some pressure. this stock's been under quite a bit of pressure. we were just talking about that earlier in the show. asml marvell technology and csx east coast rail also down just about a half a percent in the premarket. we continue to watch stocks tied to tariffs on aluminum and steel this morning. we are seeing some movement here. century aluminum the big gainer right now in the premarket. those shares up almost 2.5% cleveland-cliffs and u.s. steel both up about a quarter of a percent fractional gains for nucor and alcoa. and we also want to look at some other stocks when we're talking about the ai trade. let's start off with meta, a big winner over the last 717 days 17 day win streak. you see the big upside

move up about a half a percent in the premarket right now since that win streak started. shares up 18%. then we have the other side of the coin supermicro. it's surging right now after saying it will meet a deadline to avoid being delisted from the nasdaq. you can see shares are up over 6.5%. but look it's been really a roller coaster. you're seeing a lot of ups and downs as investors try to weigh out some of that risk of the company being delisted. but important to note, the gains that we're seeing in the premarket right now, again, shares up about 6.5% coming after the company gave full year sales guidance that came in way above consensus while also being, quote their words, conservative when it comes to that guidance, according to management, again shares up about 6.5% right now. i want to take a look at treasuries right now. bond yields ticking up just a bit on the back of those powell comments. take a look at the benchmark at 4.54. but important to note since the inauguration, since the president started out, excuse me, rolling out some of his trade policy bond yields when it comes to the benchmark, actually declining about seven eight basis points. the two year, however, pretty much at the same level it was on inauguration day. and when we look at energy, specifically oil

on pace for a winning week. taking a look at the moves this morning, though, we're seeing wti, the us benchmark, down more than 1%. brant crude down almost 1%. natural gas also falling about three quarters of 1%. we just had our seema mody say that the prime minister of india is expected to come to the us and offer to buy more natural gas from the us. so an interesting development that could impact the natural gas market. all right. that is your setup. now we want to shift to our big money movers. that's three big stock stories of the morning. let's start with shares of upstart holdings surging after beating the street with fourth quarter results and issuing better than expected guidance for the current quarter, you can see shares are up over 25%, the lending platform also revealing it expects to break even in terms of profit for the year. different story for lyft. we just hit it. one of the laggards on the nasdaq 100 shares getting hit hard on mixed fourth quarter results and a disappointing gross bookings outlook for the current quarter. those shares down 12% right now lifting, announcing a share buyback plan of up to $500 million as well. lyft ceo will have more on the quarter when he when he joins

squawk box coming up at 8:20 a.m. eastern. all right. also looking at doordash shares moving higher after reporting stronger than expected revenue growth and an upbeat sales outlook for the current quarter. you see those shares are up just about 6.5%. the company also issuing first quarter orders outlook that was above street expectations. all right. investors are going to shift their attention to the inflation picture today. with january cpi coming out at 8:30 a.m. eastern time, it's expected to show core inflation. it slowed slightly last month to an annual rate of 3.1%, but analysts expect progress on that front will stall later on this year. this is the last inflation reading before the economy could feel the direct impact of president trump's tariffs, which went into effect this month. let's get more insight with bill lee, chief economist at the milken institute. bill, good morning. it's always good to see you. >> good morning frank. >> bill, i want to get your take on what you're expecting from this inflation report. and also we're going to hear from jay powell after that inflation report. does that that lessen the importance of this inflation report. because we're going to hear what jay powell has to say

about it immediately after. >> well actually you're. >> going to have the. >> data reinforcing. >> what chair powell said yesterday. he's going. >> to. >> repeat the same thing again. >> today, which is. that inflation is not. >> moving toward 2%. >> as. >> much as. >> we thought. >> there's no need to hurry to lower rates. and we're going to stay pat until we see. >> better improvement in the inflation data. >> inflation data. >> is hanging. >> around since. >> last fall closer to 3%. than it is to 2%. >> all right. so again jay powell going back to capitol hill to testify today. i want to talk to you about the impact of tariffs when it comes to inflation. we've heard we've heard from company leaders. we've heard we've seen some of the impacts when it comes to other economic reports like ppi, some business leaders kind of factoring in the idea of tariffs. we have new tariffs to consider. how are you viewing all this when it comes to the inflation picture. >> you know everyone. >> is. >> so worried that tariffs is going to be like the world's ending. event for inflation. it's going to raise. prices for everybody. it's going to worsen everything. >> and you. >> know what happened. >> last time when trump raised tariffs. we could. hardly see

its impact on inflation. less than a quarter point over a three year period. >> and now you say. >> oh well it's totally different this time because we are coming off of a high inflation period. >> but let's. >> remember that this time trump. >> is. >> being. very smart in how he's applying the tariffs. they're really quite targeted. >> they're targeted to. >> specific sectors. >> like aluminum and steel. >> maybe specific. >> countries like china. >> and. more more and more we're seeing the tariffs are being used as. >> a negotiating opening in order for trump to get progress. >> on not just economic. >> objectives. >> but also. >> foreign policy objectives an. >> getting people. >> to help us close. >> our border. so tariffs are really serving a. >> sort of like a. >> multifaceted role in the trump administration this time around. >> and i don't think. >> we're going to see a lot of impact on inflation even to steel. and aluminum that that he put on. >> i mean, you. >> know, yes, it is. you know, we canada. >> gives us. >> about half. >> of the aluminum that we. >> consume and. >> maybe a quarter. >> of the steel that. >> we consume. >> but it. >> really won't. >> be pushing into.

>> consumer prices that much. >> because there's quite a lot. >> of profit margin between the raw material and the final product that consumers have to pay. >> but i do want to ask you, so it's not going to impact prices meaningfully. you think that companies are going to absorb the impact of tariffs. is that basically what you're saying, that it won't really be passed on to consumers? >> it's going. >> to come in two ways. remember. >> the. >> importer is the person. >> that pays for the tariff. but also. >> there's a pricing. >> power on the. >> part of the exporter. if china. >> or south korea or. mexico wants. >> to sell into the us market, they may be willing to. >> lower their prices. >> just to be. >> able to have a huge market for the excess surplus capacity that they themselves have. >> steel and aluminum. >> producers right now have a glut of production capacity. and if. >> they don't sell into the united states, where. >> are they going to sell it? >> so in. that sense, i think there's quite. >> a lot of room on the part. >> of the exporter, as well as the importers, for. >> lowering their profit

margins. >> all right. bill lee from elkin, good to see you as always, bill. thank you very much. >> thanks for. >> coming up here on worldwide exchange a fresh bullish bet in the semi space. the tailwinds one bank says are aligning for nxp semi in worldwide exchange returns. you can see shares of nxp up just about three and a third percent right now. >> the number of public companies is shrinking. >> while the. >> number of private companies is increasing. at franklin templeton we're expanding access to the growing opportunity in private markets, offering the potential for greater diversification and enhanced returns through our world class specialist investment managers. we are empowering advisors with solutions to build the portfolios of the future today. alternatives by franklin templeton, your trusted partner for what's ahead. >> 16 million. >> americans suffer. >> from chronic back pain. >> the six most. >> costly health condition in the us. >> meet creative. >> medical technology stock symbol sells on the nasdaq.

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tailwinds are aligning for the company, adding it's set up well to outgrow auto semis this year. bank of america naming astrazeneca a top pick in the pharma space. bofa says the company has an attractive valuation with a big pipeline year ahead in goldman sachs downgrading on holdings to neutral. goldman says while demand for domain momentum for the athletic shoe and apparel maker that seems to remain robust, its valuation appears full. all right. coming up here on the show, the one word that every investor has to hear today in the stock pick that every investor needs to know. plus president trump's agenda is facing some challenges, but it's not coming from democratic lawmakers. the gop infighting that could put the trump agenda at risk. we'll (woman 1) ma'am. it's your phone. ♪ (vo) with verizon, anyone can trade in any phone in any condition. (woman 2) pull flight info from notes. send to mom.

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million in 2024, $200 million expected in 2025. 56% year over year growth venue on the nyse american venue. >> welcome back to worldwide exchange. turning to washington and elon musk joining president trump in the oval office late yesterday for an executive order signing, directing heads of federal government agencies to work directly with the department of government efficiency and limit hiring and in essential roles. the president praising the work of doge. but he didn't actually give any specific instances or examples. >> we've already found billions. >> of dollars. >> not like. >> a little bit billions, many. >> billions of dollars. >> and when. >> you get down. >> to it. >> it's going to be probably. >> close to $1 trillion. >> it could. >> be close to. >> $1 trillion that we're going to find. >> the two men also taking time to address concerns over possible conflicts of interest that elon musk could face with parts of his corporate empire having contracts with the u.s.

government. >> transparency is what builds trust, not simply somebody asserting. >> trust. >> not somebody saying they're trustworthy, but transparency. >> so you can see everything that's. >> going on. >> and you can see. >> am i. >> doing. >> something that benefits one of my companies or not? >> it's totally obvious. >> and we. >> thought that we would. >> not. >> let him do that segment or look. >> in that area. >> if we. thought there was a lack of transparency or a conflict of interest. >> and sticking with d.c. lawmakers in both houses of congress are struggling to move as quickly as the president himself when it comes to key trump policy priorities. but today, the senate appears to be taking a critical step forward. emily wilkins joins us now from washington with more on that story. emily good morning. >> good morning frank. well, yeah. trump's agenda is facing. >> an increasingly. >> tricky path through congress. even as you. >> said. >> the senate is going to be taking the first steps to move. >> on it later. >> this morning. one issue still at. >> play is if lawmakers are going to be passing energy border security tax together in that one big, beautiful.

>> bill. >> or leave the intricacies of tax policy for later in the year. now, trump's border czar, tom homan, actually was in. >> the senate yesterday. >> he made a plea to senators to get him additional border funding asap. and senator lindsey graham, who's going to head the panel that's moving today on voting for the bill's spending levels, said that tax is. just too complex to handle quickly. >> i cannot and. >> i will. >> not go back to. >> south. >> carolina and justify. >> not supporting. >> the president's immigration plan. we're not building a wall, folks. we're hitting a wall. they need. >> the money and. >> they need it now. >> the house. >> has announced. >> that they will. >> start moving. >> their own bill with. tax on thursday. >> but at this. >> point, none of the bill's. >> details have been released. the chamber's most conservative lawmakers, like eric burlison, have rejected previous plans put forward by leadership for. >> not finding. >> enough in spending cuts.

>> they're asking us to trust them that we're that they're going. >> to cut spending. that's necessary. >> and the problem, for me at least, is that i've also i've. >> heard. >> i've heard trust me before. >> and. >> have and have been disappointed. >> speaker mike johnson. >> told. reporters yesterday. >> that the. >> senate bill is. >> a nonstarter. >> in the. >> house. saying the only. >> way to get. >> trump's tax cuts. >> extended is to do so with border and energy provisions. >> frank. >> all right. emily wilkins, live in d.c. emily, great to see you as always. thank you. all right. coming up here on worldwide exchange, the real estate play. our next guest says is a buy right now building momentum this morning on a newly announced partnership. we will reveal our mystery chart coming reveal our mystery chart coming up r the way i approach work post fatherhood, has really trying to understand the generation that we're building devices for. here in the comcast family, we're building an integrated in-home wifi solution for millions of families like my own. in the average household, there are dozens of connected devices.

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became a university dean. education has always been important to me, so that's why i'm so passionate about helping people manage their money. a lot of people think of ambition as a way to become rich. i see ambition as enriching your entire life. your financial life, your personal life, and the lives of people around you, your community. my ambition is to build people up. >> welcome back. >> to worldwide exchange as we close in on the 6 a.m. hour. here's a check of a few big stories that we're following this morning. citadel ceo and republican mega-donor ken griffin sending a stern warning over the negative impact from trump's approach to u.s. trade policy. he's calling the president's rhetoric bombastic, adding the damage has already been done. california regulators say they plan to impose a $1 billion special assessment on private insurers to shore up the state's insurer of last resort following the devastating l.a. wildfires. the state commissioner says the assessment is necessary to continue paying out claims to fire survivors.

the wall street journal reports white house officials are discussing plans to consolidate federal banking regulation without congressional consent, according to the report. the plan to collapse the fdic into the treasury department and combine the agency's role with the office of the comptroller of the currency is now being discussed. openai ceo sam altman telling employees the ai startup has not received anything official from elon musk regarding a potential bid. in an internal memo obtained by cnbc, all been added that musk, quote, has a history of making claims that don't hold up. and a group of u.s. airlines are asking the department of transportation to abandon a biden era review over whether carriers should be required to pay passengers compensation over flight disruptions. a trade group representing america, american, delta and united, they argue the potential requirement would drastically boost airlines costs and hike ticket prices. all right, turning back to the markets. investors are preparing for cpi. the latest read on inflation and fed chairman jay powell second day of testimony to congress. take a look at futures. right now we're seeing

the nasdaq just fractionally higher. the dow actually hitting its lows in the morning looking like it would open about 73 points lower. the s&p just fractionally lower about six points lower right now. for much more on the trading day ahead let's bring in josh wine portfolio manager at hennessy funds. josh good morning. good to see you. >> good morning. >> good to see you frank. >> josh i want to ask you what's your word of the day. how do you see today shaping up? >> my word. >> of the day. >> it's a great question. it's periscopic. so i think. >> you know, we talk about. >> you know, tariffs. >> you're talking. >> about. >> india and perhaps. >> some good. >> news there. i think. >> you know the tariffs are such. >> a. >> distraction because you know it's really it's this negotiating tool. and we don't. >> know. >> where they're going. >> we know that. >> the world is going to. >> keep coming up. >> i think when i think of periscopic it's kind of. >> earnings season. like let's. >> look at. what's straight ahead of us and. >> not what's around us. >> let's look. >> at. >> you know, what companies are saying and what they're not saying. >> you're mentioning tariffs right now. and also we have cpi later today. this will be the last read of inflation before the period where the tariffs actually kicked in. i want to play the soundbite from bill

lee, the chief economist at milken, who was on the show just a bit ago. what he had to say about tariffs and inflation and get your take. >> parents are really serving a. >> sort of. >> like. >> a multifaceted. >> role in the trump administration this time around. >> and i don't think. >> we're going to see a lot of impact on inflation. >> so josh, again, bill lee saying that the tariffs he doesn't believe will be as inflationary as many people fear. do you agree with that take. and how do you see just inflation and tariffs playing out for the rest of the year. not only impacting the fed but the economy. >> yeah. >> so inflation. >> i mean you know in terms of tariffs on inflation i think you know we've had. >> tariffs before. >> and no one. >> was. >> really talking about those being the, you know, the cause of any inflation. >> that we've seen over the last. >> several years. you know, during the biden. >> administration. >> i, i would agree, i think that if there's any inflation. it's a momentary step up in price levels and then things adjust. and i don't see that as, you know, driving year over. >> year, you know. >> above trend inflation if

anything it's a step up. i don't see it being material. i think, you know, i think inflation numbers themselves. irrespective of tariffs, i think that we're in this interesting area where i'm thinking a. lot about, you know, is there ever a point where they talk about a range for inflation instead of this 2% target that's, you know. >> somewhat arbitrary or very arbitrary. >> but no, i don't think tariffs is. >> okay so far. >> the market. >> the market's. >> not concerned i would say. >> all right. don't see the market being that concerned. i want to ask you what's your stock pick for us today. and why are you making this pick. >> sure. yeah. so stock pick you know it's holding in our hennessy cornerstone midcap 30 fund. it's redfin. so you know, existing home sales hit a 30 year low last year. you know, interest rates or mortgage rates more specifically are starting to come in just slightly. not enough to kick start a lot of activity. but you know, it's certainly on the horizon. so i think that redfin offers a compelling value for sellers with their 1% listing fee.

they're in about 80 markets. you have a great kind of technology, backbone and web presence that's been driving traffic. i think it's an under the radar name that could really benefit from any pickup in home sales. >> by the way, stocks moving higher on a new partnership. shares are up about 6% for people listening. i do want to ask you, with a lot less clarity about the fed's rate path forward and jay powell also saying in no rush, wouldn't redfin be a direct beneficiary of cuts? are you concerned about the fact that we don't have that much clarity when it comes to rate cuts for this name? >> right. yeah. i mean, it looks like, you know, at best a rate cut later this year. i don't see i think that people need. i think there is a little bit of clarity. i mean, they're not going to be going down 3 or 4 times. like i think a lot of people had thought a year ago. but i think that it's enough to know that, you know, perhaps a cut. people aren't going to wait for all the cuts. you know, i think that there's this issue of, you know, the reverse of inflation where people are waiting, you know, for the right time. so i think that, you know, rates are not historically that

high. so i think people have to get used to a new reality. >> fair enough. your pick for today is redfin. josh wine. always great to see you. thank you very much. >> you too frank. >> we'll let you go. here's what to watch. today we get cpi and weekly mortgage applications ahead of the open. and fed chairman jay powell. he's back on the hill testifying to members of the house this morning. also a number of earnings that's going to do it for us. squawk box starts right now. >> good morning. president trump. >> ordering federal. >> agencies to work. with elon musk's doge to slash their workforces. we'll show. >> you. >> what they said in the oval office yesterday. >> disney. >> goldman sachs now the latest company is rolling back. >> some dei initiatives. details straight ahead. >> plus. we'll bring you. some key. >> inflation data at 8:30 a.m. and this comes just ahead. of fed. >> chair jay powell's. >> next round. >> of congressional testimony. it's wednesday, february. >> 12th, 2025. >> and squawk box begins right now.

>> good morning everybody. >> welcome to squawk box right here on cnbc. >> we're live. >> from the. nasdaq market site in times square. i'm becky quick along with joe kernan and andrew ross sorkin. snowy out. we made it in. it's okay. things are easing down a little bit. only a couple of inches here and north of here. down in washington dc, almost six inches. so the snow is impacting things on the northeast here today. >> it's been. >> snowy this. >> year. >> but we haven't had. >> the. >> we haven't had snow like. >> this in a while. we haven't had the foot and have it. >> no not in boston. boston is having a snow day. >> she was. >> yeah. d.c. we had almost. >> six inches. >> yeah. so we're watching that pretty closely. and there's. >> times square. >> nice picture of things. >> it's warm. >> and cozy inside, though. and the us equity futures this morning look like it's shaping