i am dominic chu in for brian sullivan the dow is implied higher by roughly 59 points.&p up about 8, nasdaq higher by about 66 markets are calmer right now >> nike is facing a $20 million lawsuit over allegations of abuse. and naming the former coach accusing him of emotional abuse after joining the project in 2012 the allegations were raised in late 2019 when she appeared in a new york times op-ed nike described the claims as deeply troubling and announced it was scrapping the organ training program saying china's ongoing crack down would lead to the economic crack down in the country saying that crockdown could have broader ramifications. >> i think we might be looking back at this period in six months and say, gosh, isn't it obvious that this would be a major slowdown in china? major and unexpected slow down which should have a big impact on commodities generally the latest federal contractor to implement rules. it would allow despite a ban on the matter in the home state the move by the texas-based operators defy the demand. both have asked employees to submit proof

i am dominic chu in for brian sullivan on this friday morning.how your money and investments are looking as we're halfway through the 5:00 a.m. eastern time hour. stock futures right now just about stable the dow is higher by 13 points now. the s&p lower by 2 points and the nasdaq down by 50 points one sector to watch today, app developers initially getting a bump after google announced it would reduce the company's cut from subscriptions on its android app store. now shares of bumble jumping 7% yesterday on that news dua lingo shares climbing. you can see when they cut fees the profitability might improve for these app developers to more of your top stories silvana is back with those. >> so the cdc has approved booster shots for moderna and johnson & johnson's covid vaccines the agency's advisory committee on immunization practices recommending the moderna booster for elderly people and at risk adults six months after they got the second shot. the cdc endorsing j&j boosters for everyone 18 and older who received the initial shot two months ago t

the hour, you're watching "worldwide exchange" here on cnbc >>> good morning, happy friday i am dominic chu in for brian sullivan today here is how the markets are setting their friday up. stock futures are stable dow implied higher about 22 points, s&p down about 7 and nasdaq 40. all three major indexes were able to tack on gains of roughly 1% yesterday after the senate struck a deal to race the debt ceiling more on that in a moment we want to check on treasuries as the ten year pushes closer to the 1.6% mark. just on that number, 1.600 two year just a hair about 32 bases points we have that big release of the key monthly jobs report out at 8:30 a.m. eastern time and that interest rate complex showing a little bit of signs in terms of prices lower, yields higher. one of the biggest stories of the markets right now, energy. oil rebounding yesterday after doubts the u.s. will release crude oil from the strategic petroleum reserves right now wti 1.5% upside, $79.52 ice brent $83.22 about 1.5% there as well let's go worldwide, julianna tatelbaum is in the london news room with the look at the

i'm dominic chu.are tracking some of the outperformers in home builder related names and home improvement stocks as well the top gainers range from suppliers to retailers williams sonoma, rh, restoration hardware and home depot. home builders like putty group and lennar are also on the list as well. home builders, home construction, hot parts of the market right now i will send things back over to you. >> that's exactly what we are about to dig into, dom our power house blueprint has looked at different parts of the home and different ways to build it into your portfolio today a different twist on the housing market many in the industry agree we don't have enough homes on the market the inventory of existing homes for sale in august was down 13% from a year earlier. low inventory is causing builders to keep building and analysts to remain bullish but in a bold call, our next guest says that's all leading to a big problem. with us is dennis mcgill, of gsellman and soerntsz and diana olick our cnbc corr

to break everything down we have our dominic chu as he teased at the top of the hour.ian mon tain and ceo fast money trader steve grasso himself. let's begin with the battle in the skies. wolf research downgrading delta to pure perform saying shares topped out at current levels they're bearish on hawaiian and allegiant. american was downgraded to sell. on monday barclays upgraded southwest and turned positive on the industry who has it right, dom? >> it is hard to say, only because there's unevenness with regard to the travel and lieshure second tour as of late. since the pandemic lows it has been firing on all cylinders we are trying to get back to normal tsa screening levels. what it comes down to is whether or not a lot of the demand for travel has been drawn forward. a lot of the folks have taken the plans, taken that time to kind of really get away and used up that vacation, used up the time and resources ahead of time now, here is the interesting part i have been looking at flights for lights on this year, early next they are really, really cheap, kelly. i mean y

brandi zadrozky, garrett haake and dominic chu join us. c news week after week the company loses in earnings, but facebook increased. >> it's not that the market doesn't care about these types of stories, it's that they already have cared and they're trying to look ahead to what's in the future for facebook. facebook stock has been pummelled over the last couple of months. about 150 billion worth of market losses was in anticipation of how facebook's business model would be impacted by, among other things, first of all apple's decision to let customers decide if they want their data tracked across different apps that is used towards target marketing for them for social media companies. these whistle-blower allegations made by frances haugen and the facebook papers, they most certainly had a market impact on facebook, but market watchers are focused on what facebook will do to adapt its business model to more regulatory scrutiny over what they should and shouldn't be allowed to do and how they continue to make money. $9 billion the past quar

i'mi] dominic chu in for tyler mathisen this afternoon. 3u.■'s what's ahead on the show.ent biden calls it r historic, a big investment in the uni■g■ states. but the what the stock and bondo y■sarkets are saying about what might happen next. >>> facebook's future. mark zuckerberg outlines his vision forç■ the metaverse<■■■a takes aim at 57el as t(■ell. is it a distraction from the company's recent controversy we will talk withcan executive about the company's current á5î. >>> the ceo of valley national bank calls inflation a big risk to the market but also says it is an opportunitye1 for regional ñ■is a packed e1show.x■ kelly? >> dow isxd■off zpn■points, up l a percent. s&p stronger than l■that nasdaq the strongest, up 1.2%, hitting an intraday record high. theyt■ raised their profit forecastj■ saying their could bring in higher sales next year. ford also higher, lifting its profit forecast and raising its dividend.e nearly a 9% rise for ford. and apple is higher, up 2.5% now. we will havex¿ moree1 details on that in just a few minutes. >>> let's begin in washington, wher

. >>> welcome back to "power lunch" i'm dominic chu shares of devito down 9% tracking their worst weekly decline since union of 2020. the move comes despite a beat on earnings and revenues for the company. though it did say it with lower guidance to below analysts estimates and up creasing costs from covid-19. executives on the conference call noted more than 70% of de vita's patients are vaccinated and new patients were approximately one third of the peak it saw last year. nonetheless, big declines for de vita. >> thank you, dom. >>> one under the radar name has been kicking the tail of its competition in the sector. shares of boot barn up 138% this year and coming off a blow-out quarter that saw sales jump 67% over prepandemic levels. and it has a leg up in the supply chain as it sources nearly half its inventory from north america. kit keep corralling big gains through the holiday shopping surge? let's ask the president and ceo of boot barn it is good to see you. a business is really good. when you do your comparisons against 2019 i look at sales more than profits. the sales have just

cnbc, aaron levee makes his first appearance let's talk about the nibbling going on in tech and dominic chu has stuff on that. dom? >> there is some nibbling because we've seen some levels hit in the nasdaq become attractive for certain folks out there. one way to look at it from a big picture perspective what is going on with the nasdaq right now. off the session lows only down by of 25%. we are now down roughly 6% again, making a move now also about 3% below its 50-day average price on aal rolling basis. those tend to be levels in the past over the course of the year whenever those levels hit below average prices, we did see some dip buying so to speak that's on the sector level here. some of the places to watch specifically are some of the most volatile names that we've seen in that tech and communication services type trade. specifically with regard to names in semi conductors nvidia one of the more volatile names over the course of the last week or so here also financial technology, paypal and square among those names that has seen more of that swing along with the market. also zoom vi

i'm dominic chu. as we continue to track the market rally today particularly in the technology sector, the fintech space includes fiserv, global payments, ncr and toast as well. then there are household names like square and paypal, also holding onto gains this afternoon. though both are still over 10% off their recent highs kelly, tyler, they seem to be volume tilt tile but they are up big today. >> they don't come down like that often dom, thanks. >> thank you, dom. let's get to leslie picker who has a news alert on macy's. >> i want to show you, shares of macy's now up almost 4% on this "wall street journal" report about an ongoing activist situations regarding johna partners they report the company -- firm took a stake in macys and are urging the spin-off offis e-commerce business. i confirmed with one source familiar with the situation that that is true it was nope last week that johna at a conference in new york gave a presentation about how it believes how the company could gain value from spin

i'm dominic chu. we are tracking weakness in retail gap, abercrombie & fitch and american eagle american eagle underperforming as of late, down more than 10% in the past four weeks on the e-commerce side, we see a wide rank trading in negative territory, etsy, stitch fix, resellers like threadup and the real real online furniture marketplace, way fair. kelly, tyler, a lot of this is supply chain related the impacts felt in a wig way. back to you. >> dom, thank you. >> inflation surging this year, redefining how investors play the mechanic the core pce index at a 30-year high our next guest calls rising prices the number one market driver from here on out. talking about the pricing power. chris is a chief strategist. this note caught our eye you are bayo saying put on the inflation trades, period what would you say to those who say what about stag flags, deflation aren't these problems in energy going to slow the economy in one big picture question you have many picks. how long is the inflation trade g

i'm dominic chu as we continue to watch the stock selloff here, especially in those technology issues, we want bring your attention to a market flash on the financial technology and payment players, square, paypal, firmly in negative territory 4 to 6% downside now they are around 20% off their mid summer highs -2 retail and crypto trading side of things, coinbase and robinhood are also trading lower: keep an eye on fintech, crypto kelly and tyler, i will send things back to you no what's the reason here? >> we know there is a stock based selloff on everything that has a growth valuation component to it. it is not trade up tech, it is a lot of companies that meld the financial services side with the tech growth. so office little bit of a value component for some of these guys transaction guys like robinson and robinhood and market volatility, if things pick up maybe they make it up in trading volumes. >> make it up in volume. dom chu thank you. >>> ahead on the show, oil trading just below $80 opec decides to stick with its output plan despite heightened crisis and energy stocks have b

i'm dominic chu. check out shares of electronic arts down 7% on the heels of a beta release of its highly anticipated battlefield 2042 game with some reviewers and social media users complaining about lackluster performance and buginess with the game now, the release was already delayed by about a month due to the ongoing impacts from covid-19 worries about another delay could be weighing on the stock meanwhile, take two interactive and action vision both in the green today, take two one of the highest gainers in the video game category. >>> dom, thank you. >>> today we are learning more about gm's ceo's aggressive push to turn the company not just to electric vehicles, but to autonomous vehicles. phil lebeau is at the gm technical center in warren, michigan hi, phil. >> day, high letter. we are in the midst of the investor day presentations we are about halfway through the day. we will hear from the cfo, paul ja jacobson later today big headlines. as you look at shares intraday not a whole lot of mov

closing out a pretty strong october for tech dominic chu is looking at what names saw the biggest moves in both directions, carl. some volatility despite that great move that we've seen for many parts of the market we could see the best month since november of last year. something to keep in mind. first of all if you want to look at the broader s&p 500, the sectors that did the best, the more value economically sensitive one likes energy up 11%. the best performing s&p 500 sector and consumer discretionary continues to show strength up 11%. meanwhile the worst performer secting communication services sector due in large part to some of the weakness in the social media type stocks only up one-third. now if you drill down in terms of the winners we saw so far this year. you check out some of the names that we typically talk about like semi conductors nvidia one of the best performing stocks on the s&p and nasdaq composite overall, as well on the solar side of things a hot part of the market over the course of the past month up 53% transportation stocks specifically the rail companies. uni

interchange with sean conry and goldfinger you know do you want me to talk >> no, i want you to -- >> dominic chuaid that daniel craig has already surpassed sean connery. >> no, as a better bond. >> longer serving, better and with a higher gross in nominal dollars. >> and he lives two blocks from me >> yes. >> very exciting. >>> katy huberty will talk about the apple supply change, and we'll chat with the labor secretary. upgrade of the rails we're back in a moment in business, setbacks change everything. so get comcast business internet and add securityedge. it helps keep your network safe by scanning for threats every 10 minutes. and unlike some cybersecurity options, this helps protect every connected device. yours, your employees' and even your customers'. so you can stay ahead. get started with a great offer and ask how you can add comcast business securityedge. plus for a limited time, ask how to get a $500 prepaid card when you upgrade. call today. >>> the nation's theaters gearing up the debut of the new james bond film. last night adam aaron tweeted that -- some of you suggested that i'v

i'm dominic chu.ion and seeing a pull back in the energy sector the worst performing sector so far today, you can see there, all 11 sectors, though, in the red. among the biggest laggers there oil services names like devon energy and the moves there come as crude oil slips from its highest level since the year 2014 after the energy department reported a 2 million barrel build in u.s. stockpiles that exceeded analysts' expectations. watch gas prices and oil prices. the energy sector. keep it right here stay with us after this break. we'll have more "squawk on the street" coming up. the pursuit is on. the pursuit of outperformance at pgim. with deep expertise to outthink across multiple asset classes, actively managing investments in the world's public and private markets. outscale, with the resources to serve 1,500 clients in 52 countries. and outlast, with lotperformance at pgim. the investment management business of prudential. at vanguard, you're more than just an investor, you're an owner with acce

i'm dominic chu.ar the flat line with energy and consume discretionary stocks among the outperformers. on the other end of the sector, the communications sector is the worst performer by a wide margin that group is getting dragged by weaknesses in telecom names like at&t and verizon as well video game publisher like electronic arts. some of the tech names wamong th worst performers, alphabet and twitter. and facebook tcfabo a social media. keep it right here "squawk on the street" after this break don't go anywhere. (tennis grunts) pnc bank believes that if a pair of goggles can help your backhand get better yeah! then your bank should help you budget even better. virtual wallet® is so much more than a checking account. its low cash mode℠ feature gives you at least 24 hours of extra time to help you avoid an overdraft fee. you see that? virtual wallet® with low cash mode℠ from pnc bank. one way we're making a difference. that building you're trying to buy, cash mode℠ from pnc bank. you should ten-x it

i'm dominic chu. stocks are trading higher.. the tech sector in particular more thanup a percent today. the big chip, semiconductors, along with the solar company outside of the s&p, chinese technology get be a boost like bili, and alibaba, on a tear right now, on the best pace since april, after a disclosure from the dale journal corp. reported $40 million in share. charlie munger, from berkshire hathaway -these tech companies getting attention. alibaba,or emp fxale, still around 50% off the 52-week highs. keep an eye on chinese internet. "squawk on the street" been right back keep it right here that building you're trying to buy, - you should ten-x it. - ten-x it? ten-x is the world's largest online commercial real estate exchange. you see it. you want it. you ten-x it. it's that fast. if i could, i'd ten-x everything. like... uh... these salads. or these sandwiches... ten-x does the same thing, but with buildings. sweet. oh no, he wasn't... oh, actually... that looks pretty good. see it. want it. ten-x it. yum! if you wake u

let's bring in dominic chu. unemployment rate but more job openings, i think, than ever before and you still have employers saying we can't fill all the positions that we have. what's going on with this market? >> it's crazy. first of all, the market reaction has been relatively muted given the huge disappointment that you saw in the numbers there. that's a huge shortfall versus economist expectations. the interesting thing you wonder how much of the market really is focused on this particular jobs number as opposed to, say, maybe the drama in washington, d.c., with regard to the debt ceiling and the government shutdowns possibly later on this year. of course the infrastructure package, the budget reconciliation process. you mentioned this idea that people are perhaps not able to find work or are still looking for it. i mean, there are still 11 million -- close to 11 million unfilled jobs in america right now. we've spoken that there's a skills gap. it's one thing to say there's 11 million jobs but another to sa

chu is here. a lot of earnings. >> absolutely, an earnings barrage. that dominates right now, becky. with better than expected products and revenues, thank in part to its vaccine and cancer fruge industry groups there. merck shares up 2% but you can see they've been and underperformer on a year-to-year basis. and also parent companies cnbc and nbcuniversal comcast is moving up to the upside in a decent fashion up about 3% right now. still off 15% off the record high leveling earlier this year. $61.80 is the record high for comcast shares still 15% down $54 a share. on the third hour of "squawk," we do a check of the most popular ticker searches on the website. cnbc.com over the last trading day, maybe no surprise here, ford tops the list on resumption of dividend payment, those shares up 8%. tesla up perennial, up 3.3%. digital world acquisition, maintains its position, up 10% right now. a very volatile stock up and down side, this is the stack and the energy, afternoon surging on earnings, robinhood markets up 0.2%. and highlights in the top 50 there as well, joe >> all right thanks