watching "worldwide exchange" here on cnbc >>> good morning welcome to "worldwide exchange" i'm dominic chu in for holland howl let's kickoff with the equity futures. mixed session yesterday and now we are seeing red across the board. dow implied lower by 155 points off session lows s&p down 21 points nasdaq down 60 a decent more to the down side at the opening bell implication. checking on the bond yields. moving to the down side as we see a bid for the safety of the government bond. 2-year treasury 4.07 30-year treasury is 3.86%. energy is showing a move in the markets on the macro side. we are seeing a bid today and flat on the session for wti crude. flat on the session and $78.75 ice brent crude is flat as well. nat gas down 2%. in crypto, a bid for bitcoin at $27,423. up .20%. ethereum is off .50% $1,824 we are watching shares of first republic sinking in the big way after the first quarter results yesterday. a key headline is a massive deposit exodus in the first three months of the year we have more on that story in a moment >>> let's check on the corporate stories outside of first r

joining us now with more is cnbc's dominic chu dominic, good morning. does this mean for the stability of the banking sector? >> they're hoping it's not a pattern, jose, that's the point here to your point that the stock was at one point sinking so fast that exchange and trading rules required that it be halted for trading seven separate times, seven different times so far today and that was just in order to let things cool off in an attempt to stabilize a stock that was in freefall at one point. right now the stock has lost 15, 17% or so since yesterday's drop at one point this morning it was down another 30% on top of what happened yesterday now, i highlight the price action, jose, to your point because it gives you an indication of what the future holds for first republic, and that's pretty much a battle for survival at this point it's a fight to not become the third high-profile bank failure this year. reports are right now that the bank is looking to find a way to sell some of its assets to help shore up its financial position so that it doesn't en

jose >> dominic chu, thank you very much appreciate it. >>> coming up, a look at a wave of antitransll talk to an aclu official about what they're doing to fight back you're watching "jose diaz-balart reports" on msnbc. from big cities, to small towns, and on main streets across the us, you'll find pnc bank. helping businesses both large and small, communities and the people who live and work there grow and thrive. we're proud to call these places home too. they're where we put down roots, and where together, we work to help move everyone's financial goals forward. pnc bank. you need to deliver new apps fast using the services you want in the clouds of your choice. with flexible multi-cloud services that enable digital innovation and enterprise control, vmware helps you innovate and grow. away things. fit together with away things. ♪ ♪ that's our thing. ♪ ♪ (vo) verizon small business days are coming. april 27th through may 3rd. that's our thing. now is the time to partner with our experts. get started today with verizon business. it's your business. it's your verizon. ♪ when pain sa

joining us with now is cnbc's dominic chu.bers tell us >> it just makes things more confusing. so on the face of it, like you point out, the number of americans filing for first-time jobless benefits fell from the prior week that's good news but that number was still higher than what economists were predicting that's bad also, the number of americans that are receiving multiple weeks of jobless benefits ticked higher as well again, bad news. and if that were confusing enough, the government is adjusting the way that it counts for seasonal dynamics that tend to lead to spurts of hiring or spurts of job losses at various times of the year. and then there is the revisions to prior weeks data. it turns out with those revisions to provior weeks, jobless claims have been undercounted for some time things were worse than previously reported. if you add that, the private employment report from payroll processor adp earlier this week coming in worse than expected, and a drop in the number of posted job openings from the labor departmen

joining us now is cnbc's dominic chu. did we learn from these number snz. >> the 145,000 you mentioned is 60,000 jobs less than economists were expecting again, that huge miss is what is leading some people to say that there is more softness in the jobs economy than people have thought in the past. what the government report says each month has been suggesting at least from the labor department's side of things that the jobs market has been relatively strong. all of this is holding up pretty well given the economic stresses due to inflation, the federal reserve's interest rate hiking campaign and of course the recent bank failures that we've seen over the last month we still continue to see more job strength in certain industries out there, though it was again prevalent this month. hospitality and leisure gaining jobs, construction all gaining jobs but financial services lost jobs, professional and business services lost jobs now, all told the numbers are suggesting what could be the beginning of a bigger economic slowdow

>>> welcome to "power lunch," alongside kelly evans, i'm dominic chu. coming up, putting the intelligence in artificial intelligence we'll explore how different ai tools get so smart in the first place and then look at the impact on culture, music, education and the economy. >> we're less than a week away from the swear cnbc stock draft. can the mountain goats go back-to-back lots of big names coming. >>> let's get a check on the markets which are on track to break a winning streak we've turned green on the session. dow up about 19 points. >> let's get to kristina partsinevelos for more kristina >> let's start with lyft confirming it would reduce its head count next week "the wall street journal" putting that number at 1,200 employees. that's driving shares up 5.5% higher roughly 30% could lose their jobs lyft doesn't count its drivers as employees a lyft spokesperson said, this is a hard decision the results will be a far stronger and more competitive lyft shares are down almost 70% in the last year. >>> customers weren't phased by the price hikes on t

i'm dominic chu in for kelly evans.had a major run this year, but the nasdaq is underperforming today. so is it time to take profits in that tech trade? not so fast, according to one historian. speaking of the fed, private payrolls and ifm services data, including a leadin

. >>> welcome to "power lunch," alongside kelly evans, i'm dominic chu.elligence we'll explore how different ai tools get so smart in the first place and then look at the

. >> thanks, everybody, for watching and "the closing bell," and "the exchange" now >> i'm dominic chuy evans today and here's what's ahead on "the exchange." opec reminding us of its pricing power and we have an oil cut sending prices sharply higher and we look at the impact on the energy trade and how much higher prices can go from here and what it does to the fed spike against inflation. plus, what about the impact on technology the sector's been on an absolute tear, but if the fed needs to keep raising rates t

alongside kelly evans i'm dominic chu in for tyler mathisen today coming up, searching for answers. alphabet's ceo warning about artificial intelligence saying every product of every company will be impacted and society is not ready. we'll discuss that and a potential major move by microsoft coming for google's own turf. >> plus, the state of housing as we enter the spring selling season are buyers getting used to the new normal for mortgage rates. we'll talk to realtors about what they're seeing. we'll start with the washington area a check on markets, we're moving more to the downside dow down 78, s&p down to 4123, nasdaq down 0.4% let's get to kristina partsinevelos for more of what's moving today. >> i like that stocks starting off the week frackly lower. wall street is waiting for a lot of corporate earnings. let's start with movers today. moderna, shares are down over 7% even though the pharmaceutical firm shared positive results from a trial of its cancer vaccine. the mrna cut the risk of death or reacurrent of melanoma by 44% combined with merck's immunotherapy. some analyst

i'm dominic chu in for kelly evans. the tech trade has had a major run this year, but the nasdaq is underperforming today. so is it time to take profits in that tech trade? not so fast, according to one historian. speaking of the fed, private payrolls and ifm services data, including a leading indicator for wages, coming in weaker than expected today this ahead of friday's big jobs report so is the recession prediction closer to becoming true or can the fed nail the soft landing? we'll discuss that one area of the services trade that's not seen prices softening is travel. one analyst is seeing signs of slowing there, as well we'll have the names but first, today's markets, and right now we are drafting towards the session lows as we look at what things are shaping up to be, it's a red day across the board right now, the s&p is down about 25 points. that's the low of the session. it's been generally to the downside we were down 25 as you can see here at the lows of the decision for the s&p. we are now below the 4100 mark

reportedly considering blocking his deal to sell mint mobile to t-mobile because of antitrust concerns dominic chuo, the mint mobile deal is a story, according to the "new york post. what is going on is there's a possibility that the -- according to the post any way -- that the doj's antitrust division is looking into whether or not there could be antitrust concerns whether or not having t-mobile buy mint mobile for $1.35 billion that we could see more regulations put into play and it could impact customers and the prices they pay for mobile that's one thing to put on the radar. the other thing, as tyler mentioned, this promotion for wrexham into the english soccer league that's a big deal here, it's reynolds-backed as well. let's talk about the stock draft. with the mountain goats, whether or not we do see some kind of a defending repeat champion type situation here, it remains to be seen remember last year, there was netflix and ford that really got him the title and netflix had a huge banner year last year >> real quick comment on the deal stuff it would fit with this administration where peopl

. >> to dominic chu for a look at the bigger movers. >> we start with a couple of stocks that are the biggest drags. boeing shares far and away the biggest percentage decliner in the dow. the aerospace and defense contractor is getting hit hard after it warned it may have to pause some deliveries of its 737 max model jets due to a potential parts problem. boeing said the issue would not affect the planes that are already in service, nonetheless shares down 6% right now the biggest point drag on the dow comes from the aforementioned from tyler united health group after the health insurance giant actually reported better than expected profits and revenues, even raised its full year guidance. there are some investor concerns about how future policy changes involving the medicare part c or advantage programs could impact profits down the line. those concerns would lead to a drop in united health, but because it is a $500 stock, very big waiting in the dow we'll end with a massive downside move in shares of% catalint the worst performing stock by a wide margin, down 26% now. the contract d

dominic chu is putting it under the miesh scope. >> is it a boston or a swingline?tory being very much in focus today, what we wanted to show you was u.s. production. now, we can measure it in millions of barrels over the course of a year, and that sort of thing but one of the other ways that we used to do it back in the day was through the weekly rig counts remember when we used to track those things baker hughes, a big oil services company -- >> solven used to do it. >> 1:00 on fridays, right? that was when it got released. it was a big deal, and we've let it go a little by the wayside, but given the fact that production is going to be in focus with oil prices right now, we wanted to show you and viewers the context of where we currently stand with active u.s. rigs that's a proxy for how much activity is going on for drilling and whatnot, exploration of production in america. you can kind of see where we are right now. it's tailed off a little bit, and we are certainly not back to where we were pre-pandemic in 2019 and 2020, and what's a concern right now is, are

alongside kelly evans i'm dominic chu in for tyler mathisen today coming up, searching for answers.

. >> thanks, everybody, for watching and "the closing bell," and "the exchange" now >> i'm dominic chu in for kelly evans today and here's what's ahead on "the exchange." opec reminding us of its pricing power and we have an oil cut sending prices sharply higher and we look at the impact on the energy trade and how much higher prices can go from here and what it does to the fed spike against inflation. plus, what about the impact on technology the sector's been on an absolute tear, but if the fed needs to keep raising rates to bring down inflation, could that rally be coming to an end for tech stocks you look at how to position in that trade right now, and a sudden jump in the home prices after several months of declines this as inventory keeps shrinking and buyers keep buying up despite higher mortgage rates and what will break the cycle first? we'll look at the current gridlock in housing and what you need to know if you're thinking about buying or selling right now. we will begin with today's markets right now largely mixed and there are certain outperformance as you will see right

. >>> joining us now is cnbc's dominic chu., what else did he talk about? >> so i mean, to ali's point, there was a lot of framework laid out, but not a lot of details. i mean, speaker mccarthy did also say that he wanted to engage with the biden administration in order to find a workable solution that can bridge some of those party politics but that he says that he hasn't heard from the white house since the initial stages of trying to come to that agreement on agreeing to raise america's borrowing limit. mccarthy also took some time during his visit to the new york stock exchange to sit down with cnbc to talk about why he feels republican plans on deficits and the debt ceiling are the right way to go. he continued to pound the table as he has in the past and as he fairly predictably has done about the deficit spending ideas, right about putting future generations of americans at a comparative and competitive disadvantage when it comes to that debt burden now, when asked whether he had the support of the republican party on hi

. >>> i'm dominic chu and here is your cnbc news update at this hour president donald trump is back in testify in a $250 million lawsuit brought but attorney general letitia james alleging fraud in his real estate business practices. in a series of posts on the platform truth social, trump called the impending deposition by the new york attorney general just another unjust and ridiculous persecution of the 45th president of the united states >>> meanwhile a federal appeals court allowing a widely used abortion pill to remain on the market with significant restrictions the court is requiring in-person visits to your doctor to acquire the drug and preventing the pill from being sent to patients in the mail. >>> in japan, ordering a brief evacuation overnight urging residents in hokkaido after north korea launched a ballistic missile test towards japanese waters officials retracted the orderer saying there was no possibility of the missile landing near the island i'll send things back down to you. >> thank you we are under an hour into trading. you can check the markets right now. up acro