andrew slimmon. now andrew sorkin, ross sorkin. >>> u.s.resh strikes against the houthis and yemen. we're requgoing to have more on geopolitical tension and the white house response after the break and how much this is costing. >>> a big week for retail earnings ahead, a preview of meyoshlde tcng. we are coming right back. is it possible? with comcast business... it is. is it possible to help keep our online platform safe from cyberthreats? absolutely. can we provide health care virtually anywhere? we can help with that. is it possible to use predictive monitoring to address operations issues? we can help with that, too. with the advanced connectivity and intelligence of global secure networking from comcast business. it's not just possible. it's happening. you can make money the hard way as a bullfighter or a human cannonball... or save money the easy way, with xfinity mobile. existing customers can get a free line of our most popular unlimited plan for a year! not only will you save hundreds but you'll also be joining millions who have co

i'm andrew ross sorkin along with joe kernen. becky is out today we have so much to discuss three hours of nvidia. is that the plan >> coming after an hour of nvidia which i was just watching >> look at futures at this hour powered by nvidia. surging after the results. we will get to that in a moment. the dow would open up 120 points nasdaq up 360 points s&p is up 60 points. look at treasury yields. ten-year note at 4.3%. two-year note at 4.662%. over >>> overnight, joe mentioned the nikkei topped 39,000 the previous record was 38,515 was reached 34 years ago. >> i can do the math 1990 >> a lot of folks have been waiting a long time for that >> we don't want to do anything like that. we have seen it. we can see what can happen it was ahead of itself, obviously, but a lot of issues over the past. they have to have some kids over there. that's number one. that is stagnating. >> what do you think about nvidia ahead of itself? >> i don't know. i'm doing the math we will talk to our analyst in a second i was doing the math it is not q

i'm becky quick along with joe kernen and andrew ross sorkin. the futures this morning are a little bit mixed. the dow is down 75 points. you have the s&p relatively flat. nasdaq indicated up 40 points. you did see all three of the major averages pulling back yesterday for the first time in three sessions. treasury yields are around the same level we were looking at yesterday. you see right now that the t ten-year yield is 4.15%. the two-year yield above 4.1%. joe mentioned stocks jumped in china after the report that regulators are planning to brief president xi jinping today. that fueled the speculation that the country could intervene further to support capital markets. earlier in the day, beijing's security regulator encouraged short selling. stocks up by 3% in shanghai and 4% for the shenzhen. >>> and palantir shares jumping close to 20%. earnings coming in at 9 cents per share. full year guidance in line with the estimates. alex karp says this expansion has never been greater with the demand for large language models in the u.s. this is dr

i'm becky quick along with joe kernen and andrew ross sorkin. here we go. look at the u.s.uities at this hour. you will see red arrows. dow futures off 140 points. s&p futures down 14. nasdaq off 40. that comes after all of the major averages were down yesterday. check out things in the treasury market. you will look and see the treasury yields are higher. ten-year yielding at 4.31%. we are keeping an eye on the price of bitcoin this morning. that is up b

i'm andrew ross sorkin along with joe kernen. becky is off today. look at u.s. equities. three and a half hours set to go. we are looking set to open higher. dow up 24. nasdaq up 42. s&p up 5 points. treasury yields with the ten-year yield and two-year yield. ten-year yield at 4.270. th

i'm becky quick along with joe kernen and andrew ross sorkin. good morning.re? >> after the super bowl. day after valentine's day. >> a pattern. >> will you get to the nba all-star game? >> that will be interesting. we'll watch it. >> i'm thinking about the big east tournament. not because of xavier this year. last night, i had a four-way -- that sounds horrible. i had a four-way hit. maryland, uconn, clemson

i'm becky quick with joe kernen and andrew ross sorkin.at the u.s. equities. not a lot of movement at this point. dow futures down 17. s&p futures down 5. as joe mentioned, we almost crossed the 5,000 mark for the s&p 500 yesterday. it did close at a record high. 4,995. we will keep an eye on this. we had the nasdaq 100 closing at a record high as well yesterday. it came after strong gains

we have andrew ross sorkin in new york we have jobs friday and ahead of the number, you will see it looks like the futures yesterday, you did see the dow close up and the dow and s&p on track to be up for the week at this point dow futures are flat right now s&p indicated up 26. nasdaq is down for the week, but indicated up 167 points this morning thanks to a lot of the tech stock earnings. we will talk more about that in a minute >>> look at what is happening with the treasury yields ten-year yield and five-year level. ten-year level at 3.884. andrew >>> thanks, becky. i hope you guys are doing well i think it is 3:00 a.m. where you are. >> yeah. >> we have been talking about that. >> the alarm clock was 1:30. >> it is a beautiful place out here >> the commute is nice >> yeah. >> 100 feet. >> i don't have to go to a different state. >>> amazon, meta and apple reporting after the bell yesterday. all beating on top and wobottom line apple logging a growth quarter it did miss on iphone sales and posted declining sales for china. i want to bring in doug clinton from deepwater asset managemen

i'm andrew ross sorkin along with joe kernen and becky quick.- well, down by 28 points off. nasdaq up about 6 points. the s&p 500, we're going to call that -- we say that's just flat even though it's marginally down. the ten-year note, 4.154, the two-year sitting at 4.463. >> are we off a week from today, presidents' day? >> we are. >> what about doing that super bowl on that sunday? anyone think about that? or just have another super bowl holiday today. i mean, i'm -- >> i vote for the latter. if we're going four days a week, we can get one more crappy holiday, can't we? it's not going to kill us. you know who won't do it, the greedy traders down at the big board. >> oh, some of them might go along with that idea. >> yes, they might actually. the s&p 500 closing above 5 thousands for the first time ever. let's bring in the chairman and ceo of strategas research partners. that is a baird company. a lot of people say we don't need rate cuts because earnings are validating current valuations. depends how you're looking at earnings. if you look at

i'm andrew ross sorkin along with joe kernen. becky is off today u.s. equity futures, before we go to the moon, they are not going to the moon yet. the dow is up six points nasdaq going down from the moon at 38 points s&p 500 is off 3 points after the nvidia party yesterday that was a remarkable ride let's show you where -- i don't know if we show you where nvidia is looking right now the dow closing above 39,000 that happened after a more than 1% gain. the 13th record close of the year s&p adding 2%. the nasdaq near a record territory after 3% gain which is its best session in a year take a look at treasury yields at the same time ten-year note at 4.343%. the two-year note at 4.737%. to the moon and back we go you have no interest in going to the moon >> no, no. it's a rock next to the third rock smaller rock next to the third rock from the sun. i would like to know if there is water, i guess i would like to know if there is any cheese anywhere. >> you are not going for space tourism? >> i'm interested in that. i think we need to do that eventually oth

i am andrew ross sorkin along with becky quick and joe kernen.bout 57 points and the nasdaq off by about 125 points, and the s&p opening down by about 20 points. the two-year sitting just about at 4.470. and crypto, almost at $50,000, $49,962 right about now. >>> let's get over to sarah eisen. >> the forecast on coca-cola for 49 cents up. just going beneath the circus, organic revenue growth was up 12%. it was not just price. a big part of the story on consumer names has been pricing, which has been driving all the growth. coke managed to drive what they call the concentrated sales which is overall volumes, up 2% there. they were down in europe and north america, but they were higher for the rest of the world. they see for the year continued growth, organic revenue growth up 6 to 7%. all these numbers would look better if not for the stronger dollar. i did speak with james quincy, and here's color on what they are seeing. he said we are managing the pricing environment and have a stra strategic incentive for volume growth. they had to adjust pric

i'm joe kernen with andrew ross sorkin, and becky is off. they have the dow in the negative to some extend, and we have the nasdaq down almost 100, and the s&p down almost 20. treasuries out, that's part of the problem, and big moves with the cpi, and the ten-year almost back up to 5%. >>> walmart out with its numbers and courtney reagan joins us as she tries to look at that. >> walmart reporting adjusted of 170, and also topping amazon. still the world's largest retailer by sales. the full year earnings range is with expectations. the retailer also increasing its annual dividend. u.s. comparable sales for walmart grew 4%, and u.s. net e-commerce sales grew 17% below the 23% global e-commerce rate, and it's a metric that continues to keep growing. walmart noted it crossed $100 billion for the year, and i spoke with the cfo who said, quote, ties something a very important part of our business, and noting it grew more than 33% globally last quarter and adding it's changing the profile overall, and while last quarter he was more confident price

i'm andrew ross sorkin. >>> and s&p 500 opening, call it nine poits.nge. show you treasury yields as well this morning as we try to make sense of what jay powell is up to. ten year note, 179. two year 1486. melissa? >> shares of snack and pepsico giant lowered earnings posting mixed fourth quarter adjustments revenues a bit light. resevenue fell first time in the years. on guidance side pepsi expects fiscal 2024 earnings per share 815 a penny above expectations raising annual dividend and stock down 1.4% now. >>> other top business stories, the white house announcing allocating $5 billion more in funding from the chip and science act helping set up public private partnership leading to creation of a national semiconductor technology center. awards for big tech still on the way. commerce department saying those should arrive in six to eight weeks. speaking of chips, a headline for you. openai ceo sam altman purchase importan -- purportedly wants to shake up that industry in a big way. global chip building capacity. cost, price tag, how much to raise? po

i'm becky quick with joe kernen and andrew ross sorkin. happy monday morning. let's look at what is happening with the equities at this hour. you will see red arrows. dow futures indicated down 76. s&p futures off 8. the nasdaq down 16. of course, this is coming after the s&p 500 and dow and nasdaq 100 all closed at record highs on friday. if you look at the treasury market, this is interesting. jay powell speaking yesterday on "60 minutes" talking about how he does not see rate cuts in march. one more message to the markets about this and the markets are paying attention. you are looking at higher yields this morning. ten-year yield at 4.08. again, the idea that the rate cuts are not coming in seven weeks. that's the message from jay powell. >>> new over the weekend, u.s. and uk launching air strikes on iraq, syria and yemen. keir simmons has more on what is happening. he is on location. keir, what can you tell us? >> reporter: becky, good morning to you. the headline for cnbc viewers this morning has to be just no sign of a deescalation in the red sea and the

i'm andrew ross sorkin with joe kernen and becky quick.e markets, still 2 1/2 hours before we get completely moving here, but the dow would open up 54 points higher. s&p 500, up about 6 points. nasdaq up about 25 points. treasuries right now, the ten-year and two-year, flip the boards around, ten-year, 4.228%. the two-year at 4.559%. oil, the energy complex, you can buy wti crude, $76.12 right now. and crypto, it continues to move up, you're looking at bitcoin at $52,392. >>> back to the broader markets. clawing some steep losses back from earlier this week. joining us to talk about the market is meera pandit, global market strategist at jpmorgan asset management. good morning to you. we have been trying to make sense of all this. i think the hot cpi number has spooked a lot of folks and maybe has a sense that it spooked jay powell or should have jay powell and everybody not been spooked because maybe we knew this already? jamie dimon knew this already. >> the fed has been saying since december 75 basis points worth of rate cuts. we want t

i'm joe kernen also with andrew ross sorkin.re. interesting things coming on the docket today the minutes from the fed and we have nvidia has -- of any stock maybe more to do with this incredible rally that we've seen check out the shares right now the company's quarterly report after the bell today, and big numbers. like revenue rising like 8 00% r something. seven times, amazing performance as a.i. has taken the world nome by storm but by surprise over the past eye, think. i told you when was i a stock broker? many years ago might not have been born bought something called symbolices. >> was i early >> u remember. >>. >> it doesn't exist anymore. >> you were too early. >> too early for my clients. >> and changes ahead for the dow jones industrial average walgreens is out, amazon going in going to happen on monday. >> okay. meantime check out the price of bitcoin. just about to cross the 53,000 dollar level now trading lower today at $51,318 also ethereum crossed over the $3,000 level giving back some gains. all of this amonth

i'm andrew ross sorkin along with joe kernen, and, yes, this morning, melissa lee. becky is out.ice to see you. >> happy to be here. >> welcome to the party. >> we've been begging for six, seven days. >> the boys are by themselves. >> and you can't take it any longer. >> melissa lee is here. >> make it stop, make it stop. >> we appreciate you waking up very early for this. the dow looks like it would open down about 118 points, nasdaq opening down about 117 points. s&p 500 off by 16 points right now. take a look at treasury yields. the 10-year at .93. the 2-year at 2.863. and crypto prices. we've been talking about crypto quite a bit these days. up about 4% this morning. >> it's crazy. and take a look at ether etf. that's surging too meantime apple is canceling its electric vehicle product. that ' that's accordinging to those that know. many employees will be shifted to the artificial intelligence division. apple's ceo -- apple and ceo tim cook have never acknowledged the electric car publicly but referred to working on e autonomous systems. they've never been open about this but

i'm becky quick along with joe kernen and andrew ross sorkin. here we go. look at the u.s. equities at this hour. you will see red arrows. dow futures off 140 points. s&p futures down 14. nasdaq off 40. that comes after all of the major averages were down yesterday. check out things in the treasury market. you will look and see the treasury yields are higher. ten-year yielding at 4.31%. we are keeping an eye on the price of bitcoin this morning. that is up by 4%. $62,690 is the last tick. >>> time for the planner. let's tell you what is about to happen. we have a lot going on. the fed inflation data is due out later today. we get the latest on the core pce at 8:30 eastern time. we get the weekly jobless claims as well. on the earnings front, we hear from best buy reporting before the opening bell. we will hear from hp enterprise and dell after the closing bell. >>> in the meantime, the congress leaders have reached a tentative deal to avert a shutdown. we have emily wilkins with more from d.c. >> good morning, andrew. fourth time is not yet the charm. the house plans to vot

i'm becky quick along with joe kernen and andrew ross sorkin.ere we go let's take a look at what's happening with u.s. equity futures. yesterday markets closed higher, so they've been up three out of the last four days dow futures down s&p down by close to 3 and nasdaq down by ten treasury yields came down. the 10-year is sitting at 4.12%. also a programming note for you, we're going to be talking interest rates, the fed's inflation battle, and the state of the economy with minneapolis fed president neel kashkari. that's coming up at 8:00 a.m. eastern time we'll get all the latest from him jo meantime let's get right to the alliance. it could change the way viewers watch sports they're all teaming up to launch a sports streaming package all three partners have one third ownership. the big question for ownership, how much will it cost? no details on it just yet, but subscribers will be able to bundle the new service with disney+, hulu, and max they'll try to capture those who don't subscribe to pay tv. disney and warner are negotiating packages w

i'm andrew ross sorkin along with joe kernen.so much to discuss three hours of nvidia. is that the plan >> coming after an hour of nvidia which i was just watching >> look at futures at this hour powered by nvidia. surging after the results. we will get to that in a moment. the dow would open up 120 points nasdaq up

i'm andrew ross sorkin along with joe kernen. melissa lee is with us today. hanging out.three big hours. becky is off. >> melissa is here. >> let's show you the u.s. equities. dow is looking to open higher right now. the dow would be up 20 points. nasdaq up 45 points. the s&p is looking to open six points higher. lo

back to "squawk box" here on cnbc we are live at the nasdaq market site in times square i'm andrew ross sorkini. let's show you where things stand after the comments from jay powell nasdaq is up 117 points. this follows the selloff after jay powell signalled a march rate cut was unlikely. >> based on the meeting today, i

i'm andrew ross sorkin along with joe kernen, and, yes, this morning, melissa lee. becky is out. happy to be here. >> welcome to the party. >> we've been begging for six, seven days. >> the boys are by themselves. >> and you can't take it any longer. >> melissa lee is here. >> make it stop, make it stop. >> we appreciate you waking up very early for this. the do

we have andrew ross sorkin in new york we have jobs friday and ahead of the number, you will see it lookserday, you did see the dow close up and the dow and s&p on track to be up for the weeat

i'm becky quick with joe kernen and andrew ross sorkin. happy monday morning.hat is happening with the equities at this hour. you will see red arrows. dow future

i'm becky quick along with kejoe kernen and andrew ross sorkin. we're all here. from bed. look at what is happening with the equities. you will see there is a little bit of pressure on the dow futures. down 28 points. s&p futures are flat. the nasdaq indicated up 10. the s&p closed above 5,000 on friday. you are talking about the s&p 500 and nasdaq 100 hit hating n highs. all of the

i'm andrew ross sorkin along with joe kernen. becky is off today u.s.efore we go to the moon, they are not going to the moon yet. the dow is up six points nasdaq going down from the moon at 38 points s&p 500 is off 3 points after the nvidia party yesterday that was a remarkable ride let's show you where -- i don't know if we show you where nvidia is

i'm becky quick along with joe kernen and andrew ross sorkin.are a little bit mixed. the dow is down 75 points. you have the s&p relatively flat. nasdaq indicated up 40 points. you did see all three of the major averages pulling back yesterday for the first time in three sessions. treasury yields are around the same level we were looking at yesterday. you see right now that the t ten-year yield is 4.15%. the two-year yield

i'm becky quick along with joe kernen and andrew ross sorkin. snowing in new york.ot. by the way, they closed the schools everywhere. at the moment, i'm not sure that was the right call. let's see where we are in a couple of hours. >> i would say the kids are excited about it. >> it is easy to close the schools now with remote stuff. colleges do it. >> they are saying have a ksnow day. >> this is you are supposed to go sledding if the know

. >>> good morning, welcome to "squawk box" here at market square andrew ross sorkin and joe kernen beckyone once again opening up, we'll talk about how the dow may be changing soon but the dow off by 55 points nasdaq down 55 points as well. the s&p off by about 6 points. treasury yields, 4.260, the 2-year at 5.89 the crypto prices, pulling backo

i'm andrew ross sorkin with becky quick and joe kernen. dow if we opened up. still got 2 1/2 hours to go. nasdaq up 123 points. the s&p 500 up about 25 points after a big sell-off. treasuries, real quick, ten-year note standing just at about 4.289%. the two-year, 4.610%. a news alert on uber, the ride sharing giant, $7 billion buyback program, issuing a business update over the next three years saying it now expects gross bookings growth in the mid to high teens, adjusted ebitda growth in the high 30 to 40% range and free cash flow to reach at least 90% of adjusted ebitda annually, that comes as uber having its investor day and that stock, which has been on a tear this year, up again this morning now, looks like on the move already, 4%. >> the market's response to the inflation miss sparking fears of a worst case scenario that the fed will have to keep rates higher for longer. joining us now with more, senior economics reporter steve liesman. is it a 0% chance there is another hike some day, steve, that's just how long we stay where we are

i'm becky quick along with joe kernen and andrew ross sorkin, and here we go. it's a wednesday.e u.s. equity futures, and they're indicated slightly higher. you're looking at the dow futures up by triple digits, up 100 points. nasdaq up by almost 115. but this bounceback come

i'm becky quick along with joe kernen and andrew ross sorkin.day markets closed higher, so they've been up three out of the last four days dow futures down s&p down by close to 3 and nasdaq down by ten treasury

i'm andrew ross sorkin along with joe kernen. becky is off today.ying on. u.s. equity futures. 36 points down if we opened up now. nasdaq is looking to open higher. six points higher. s&p off two points. treasury yields with the ten-year note is 4.244%. the two-year note at

i'm andrew ross sorkin along with joe kernen. it is just the boys today. becky is off.ng on. including the big credit card deal which we will talk about in a moment. u.s. equities at this hour are looking to open down. 83 points off the dow. s&p off 21 points. treasury yields with the ten-year note at 4.275. the two-year note at

we're going to talk to andrew ross sorkin in just a moment. we'll give you the numbers first.umber was revised up to 333,000. 15 million almost now jobs added since president biden took office. we're well over pre-pandemic. this isn't about the post pandemic recovery. this is about a growing economy. >> we're in february. the election is not until november. if we continue on this track, we've seen the numbers all keep going up, inflation coming down. most importantly, those university of michigan surveys on confidence of consumers are shooting up. these are the sort of things -- there's a separation in the polls between joe biden's approval ratings and what people are thinking about the economy. that goes away if this economy keeps growing. >> logically, you're right. i look at what you were talking about before, the evangelical support for donald trump. it doesn't make any sense. i was up in new hampshire for all those days of the primary fight. i went out to a laconia event. he made sure to cover the entire state to give everyone a chance to come to a rally. i've never seen

he was interviewed by andrew ross sorkin at deal book.w what himself. he doesn't care that he pulled. now he is going after disney. he is essentially trying to raise awareness, create lawsuits against what he believes is disney's discriminatory hiring process. here's the thing, i'm doing a book on corporate wokeness just so you know. i know a little bit about this. if you put on a scale of one to 10, disney fits on the woke scale, it would be close to 10. where they fit on diversity scale, i'm not talking about the type of diversity you and i grew up, outreach to minority communities, under reached communities, try to get people that don't look like us involved, that is a noble thing that is what we should be doing. it goes farther than that, it goes into based on my research stuff that comes really close to quotas. i did look at a disney document that has been floating around for years. ironically it bottom sent to me from an investor in disney today who is on musk's side. if you look at this document, i might write this up for fox busin

let's bring in andrew ross sorkin. begin with the reverberations and the impact of this meltdown yesterday? >> i think the real reverberation is a long-term question about whether the telephone companies in this country are going to ultimately need to be regulated in a way they aren't today. there was a brief period where the fbi and homeland security were looking at this as a cyber attack. it doesn't appear that's the case. even though the three networks at&t, verizon and t-mobile are regulated by the fcc in the united states, it's not like a home inspector going into a home to check the plumbing when it's being installed. we don't have a system where people are checking to make sure there's a backup system and a backup system before that. we have economic incentives ostensibly to prevent these types of things. of course at&t or verizon or t-mobile don't want these things to happen. having said that, these are ultimately utilities in the u.s. the economic impact on them is quite small on a relative basis. if you have

let's bring in andrew ross sorkin and stephanie ruhle. >> andrew, help us sort through it all.e economy is actually super strong. it's stronger than anybody expected. frankly, it's stronger than the fed expected. the reason they would lower interest rates in march would be they'd start to get worried that maybe the economy would soften a bit. he's effectively saying this economy is moving and grooving. for now, at least, he wants to see it continue that way and is going to be waiting effectively for some period of time to lower those rates. that's the good news. the bad news, is of course, if you have a credit card bill or mortgage, your rate is not coming down any time soon. >> jay powell basically said that yesterday. that is rare. you don't see the fed chair get in front of the podium and say this economy is strong. that's what you're seeing yesterday. inflation is cooling, the economy is growing. this is the best recovery in the world. for any republicans who want to continue to try to keep battering the economy, yes, life is expensive, you can't argue that, but this is a s

andrew ross sorkin, as always, thank you so much. i appreciate it. never expected it. you do too. >> i love the kia. >> you are still a ford f150 truck girl. >> yeah. >> and you have been for 30 years now? >> my whole life. my mom drove a pickup truck, ford f150. i have one that's 25 years old. yeah. joe got me the best anniversary gift, which is an f150. so, yeah, that's where i am. they're made a little differently now, and i have some complaints. i like the two tanks, plastic seats, gun rack, heavier. >> here we go. >> they were heavier. there's no doubt. >> there's a difference. >> definitely not an ev. >> i do feel guilty about that. i'm not sure i can buy another car that's not an ev. >>> this week, hunter biden will go before the republican-led oversight and judiciary committees for a deposition as part of the father's benefit if they can land this plane. >> i'm curious about his awareness of his dad's political people's concerns. he decided to come out swinging at one point and take this head on and really not try to hide from these things an

andrew ross sorkin will join us to talk about the potential game-changer. am 41 years old. i've been given the opportunity to work from home, so that means lots of video calls. i see myself more and i definitely see those deeper lines. i'm still kim and i got botox® cosmetic. i wanted to keep the expressions that i would normally have, you know, you're on camera and the only person they can look at is you. i was really happy with the results. i look like me just with fewer lines. botox® cosmetic is fda approved to temporarily make frown lines, crow's feet, and forehead lines look better. the effects of botox® cosmetic may spread hours to weeks after injection, causing serious symptoms. alert your doctor right away as difficulty swallowing, speaking, breathing, eye problems, or muscle weakness may be a sign of a life-threatening condition. do not receive botox® cosmetic if you have a skin infection. side effects may include allergic reactions, injection site pain, headache, eyebrow, eyelid drooping and eyelid swelling. tell your doctor about your medical his

i'm becky quick with joe kernen and andrew ross sorkin. if you check things out this morning, look at the u.s. equities. not a lot of movement at this point. dow futures down 17. s&p futures down 5. as joe mentioned, we almost crossed the 5,000 mark for the s&p 500 yesterday. it did close at a record high. 4,995. we will keep an eye on this. we had the nasdaq 100 closing at a record high as well yesterday. it came after strong gains from meta and microsoft and nvidia. you have treasury yields with the ten-year yield at 4.11%. the two-year note at 4.42. andrew. >>> let's get right to the big news of the morning. a lot to unpack in the world of disney. let's start with the results. the company beat profit expectations and light on revenue. disney raising its guidance for 2024 as the goal of cost cutting by now of $7.5 billion by the end of the fiscal year remains on pace. on top of the results, disney announcing a partnership. $1.5 billion stake in epic games. they will work together to create a new game or new games and content features wit

we'll be using satellites. >> andrew ross sorkin, thank you so much.ll phone number. >> reverend al? >> i do not have a hard line. i had the misfortune of being one of the ones that had a failed effort this morning to deal with my cell phone for a minute. i didn't know what happened. i thought i was being invaded by the right wing. >> no, not at all. after what you said about progressives imprisoning us with their idea, i think it may be the left wing today, rev. jonathan lemire, hard line? >> no, no longer. i did until a few years ago. i was also hit with the cell phone outage today, wondering if the russians are going after us for the sanctions package tomorrow. >> i have one. i know it's there, but i haven't used it in years. you don't want to go too deep into my hopes we return to an agrarian society, my anti-technology views. but i do like the idea of having a hard line in case everything goes down. >> yeah. a flip phone and one of those green phones in the kitchen with the long line where you can walk around. >> do you go rotary? that's the real

i am joe kernen along with andrew ross sorkin.s reports we have been waiting for, not much going on. the nasdaq up 36, and we have green on the screen. macy's out with quarterly results. above expectations of 1.96. comp store sales are what a lot of people base, you know, whether they think it's a good or bad report. comp store sales fell 2.4%, so down. wall street was expecting worse, a drop of 5.8%. macy's plans to close 150 under perfect -- under performing stores. this, the retailer narrowing its net sales range 22.2 to 22.9. the estimate was 22.95, and the high end of the range was 23.9, so the top end of the range has come down. after it's all said and done the stock is down 81 cents, which is about 4%. >>> we will check things off on the earnings side of the story this morning following the macy's report with lowe's just around 20,000 shares of volume so far. they reported better than expected profits and better revenues for the quarter even though sales did fall from the same time last year. lowe's was impacted by the lowe

back to "squawk box" here on cnbc we are live at the nasdaq market site in times square i'm andrew ross sorkin along with melissa lee and mike santoli. let's show you where things stand after the comments from jay powell nasdaq is up 117 points. this follows the selloff after jay powell signalled a march rate cut was unlikely. >> based on the meeting today, i would tell you that i don't think it's likely that the committee will reach a level of confidence by the time the march meeting to identify march as the time to do that. that's to be seen. i wouldn't call -- when you ask me about in the near term, i'm hearing that as march. i would say i don't think it's the likely case or base case >> comments during the conference sparking a selloff. dow losing 300 points breaking the four-day winning streak. the index up 1% for the month of january. gentlema nasdaq sliding down 2% for the worst day since october. the s&p 500 posting the worst day since last september down 1.6% treasury yields with the ten-year yield at 3.946. the two-year yield at 4.240. we will talk a lot about the path for interest r

let's bring in andrew ross sorkin and christine romans. give to have you both. a bad one, where would it be? >> i listened to the conversation you're having. this is not necessarily a thing i agree with. i think we have a great economy. you look at this economy on all metrics and it's very, very kmng challenging to say it's a problem economy. the challenge, though, the real challenges -- and i don't blame the president for this, but i think when it's on your watch, you get blamed for it. even with inflation coming down, it went up. prices are still higher than they were three years ago. even if you look at gas prices down and some food prices down, that's great. you can give the president credit for undoing some of the supply chain problems from before and the like. but i think the average american is looking and going it just cost more than it used to. even though my wages might be marginally higher, they say the differential is that i'm still underwater on a relative basis. i think life is relative. i'm not saying that the president should get the blame for th

. >>> let's turn now to the new inflation reports released moments ago and bring in andrew ross sorkin you were saying about other countries is 100% correct. we're doing a lot better. but i don't think the white house is going to be thrilled with this report. you could see even the stock market reacting to this. you have the dow off about 324 points this morning. that's in large part because inflation came in hotter than analysts and economists had been expecting. we did see price hikes for some part of the economy, including shelter. that means rent and things of that sort. and some food last month as well. it appears prices went up, not down. that's what's going to be concerning for folks around the country when it comes to how they think about the politics of this, but also what the federal reserve is going to do. there had been an expectation that jay powell might try to lower interest rates, which would help with mortgage prices and credit card rates and the like. that may take more time now given how high inflation seems to be. >> we're looking at the annualized rate at 3.1%. i k

let's bring in andrew ross sorkin. other companies could follow suit. cost more. >> you can save this tape and make fun of me later if i happen to be wrong. i can't answer how in a million years this is ever going to work. when it comes to fast food, most customers are relatively price sensitive. often times fast food changes are literally across the street from each other. the idea that somehow you're going to go over and see the wendy's burgers are going to cost you more at lunchtime means you're going to go to mcdonald's. prices get lower during periods of time where customers don't normally go. maybe there's an argument to be made that during the lulls that they start to lower their prices. the idea they're going to charge you more at lunchtime -- maybe they're trying to make the drive-through line shorter and make more money during that period. the idea this is going to be a huge boon to their business, i'm not sure and i'm not sure others are going to follow suit any time soon. >> but wait, there is more. the ceo of kelloggs did not say cash strap

. >> let's bring in andrew ross sorkin. >> is it a culture problem at boeing?edies across the globe. >> you know, i think ultimately it probably is a culture problem. the great news is we have not had planes falling out of the sky, but we have had a number of problems and issues. frankly, we did have falling out of the sky many years ago. when you think about the culture issue, which is one of excellence. you need to have excellence in a binary outcome of the plane is going to land or it's not. for whatever reason, boeing has not led on that standard. now, the question is now, if you have faa people in there watching over people, acting as a nanny, is that the right approach? you could argue there's not enough competition in this space anymore. really there's boeing and there's airbus. that is it. that has provided a disincentive for that kind of excellency. because of the way boeing operates relative to airbus, there's a whole retraining effort. if you are an airline that's long relied on boeing planes and you say i'm going to go get an airbus plane, the addit

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