teiewivep, our exclusi inrvw th ed bastian.awk box" will be right back. >>> good morning stocks looking to get back on track as investors gear up for a fresh round of inflation data following that cooler than expected cpi report. and delta out with quarterly results in the last hour and the ceo ed bastian will join us in a first on cnbc interview in moments palantir's alex karp talks about the future of ai, china, and the state of business as the second hour of "squawk box" begins right now. >>> good morning, welcome back to "squawk box" here on cnbc i'm joe kernen with andrew ross sorkin and melissa lee u.s. equity futures don't know which way to head at this point. we're barely up. nasdaq is up a little. yesterday initially bounced on what was a little cooler than expected inflation data. but it was, like, there is enough in there for everyone i guess you could say maybe. maybe a pivot is down the road but why are we going to pivot? because maybe a mild recession is down the road as well so there is something for everyone the

delta airlines reports this hour we will bring you the numbers and interview with ceo ed bastian. >>>r will let users access stocks and crypto and other financial a assets with a partnership with etoro. the feature rolling out today. it is thursday, april 13th ugh. the 15th in two days. "squawk box" begins now. >>> good morning welcome to "suebquawk box" on cc i'm melissa lee along with joe kernen we have andrew ross sorkin live with us from seattle the >> melissa, we have a big show

ed bastian addressed this.pointed out we can't expect the same growth in consumer travel in particular this year like we saw last year. the numbers can't work >> well, the business travel numbers are never going to come back to the degree because you don't have people -- >> they already have -- >> working five days a week. >> you heard josh say, they are and they're coming back in international where there is still a lot of room for growth so transatlantic traffic is picking up mightily. and in mr. bastian's words, china, at least in the quarter just reported, really had no affect it's just reopening now. so there's actually a lot of room for international growth which is high margin business. >> josh, what's the point you want to make even if business travel is coming back, number one, you don't own any of these stocks. number two, you are at arguably the greatest period of travel in the last 18 months or year, let's say, certainly since last summer, that you may ever see. the stocks are ugly. >> airlines are

the estimates were well ahead of that i am, however, very interested in what ed bastian says.ctive comes from what companies say. ed bastian is a truth teller, a clear communicator if there is the slowdown and, frankly, there may well be if there is the slowdown from the consumer, i have questions from him, what's going on with international travel part of what we're talking about, last year was gangbusters for domestic travel. we shouldn't expect that to increase >> here is what i don't understand, and inn know i ask o this as it relates to how strong the auto industry is, how everybody needs a car, blah, blah, blah over the last year american airlines is down 24.5% while you almost every time you're on talk about the strength of the airlines and tsa numbers and on and on and on delta airlines is down 13.5. xal is down 24.5 if i was to pull up one year, let's say, of general motors or ford, they don't tell a great story. what you think you see in terms of economic strength in various businesses and what the translation is in various stocks >> that's an absolutely fair point.

kriti: ed bastian at delta's specific sink it if you are worried about weakness, you will not find itere. shares down 1% on the day. simone foxman, we thank u.s. always. still ahead, a new survey forecasting a rise in corporate defaults this year. this is bloomberg. ♪ [office sounds] ♪upbeat music♪ ♪♪ ♪when the day that lies ahead of me♪ ♪♪ ♪seems impossible to face♪ ♪a lovely day (lovely day)♪ ♪(lovely day) (lovely day)♪ ♪(lovely day)♪ a bank that knows your business grows your business. bmo. kriti: this is "bloomberg markets." i am kriti gupta. time for wall street beat. investors are worried about credit tightening. fears surrounding potential defaults have not gone away. this is the cost it takes to hedge against defaults. you see doubles for the north american investment grade index. cds levels remain elevated for 2023, although frankly off their peak. we are nowhere where we work during covid and the recession that led there. but we are starting to see it come down and tick back higher as of last year. just today we learned of a new survey that showed credit portfolio managers f