along with rates over the past few weeks but that trend reversed yesterday frank holland has more. >>tocks falling on concerns of a hawkish fled after the hotter than expected inflation. a sauna could be a poster child for what we're seeing up with strong earnings and even after falling more than 10% yesterday but 80% off the highs and analysts say the gains are investors buying the dips. twilio is higher this week the thoughts we found the bottom and this was the time to get back in the cloud stocks started a trend moving higher this month at 3.25. you can see the positive correlation coming to an end again on concerns of a more hawkish fed. the spike in the dollar adding to the headwind pressure but cloud spending is up 30% so far this year. goldman sachs putting out a note saying outlook is still solid. still some tailwinds for cloud even with the falls we saw yesterday and a lot of the stocks up today. >> a lot of subgroups within there for investors to watch thank thanks, frank. >>> i spoke to ceos about how consumer spending, good or bad, is going to impact tech growth here are

frank holland is next. ♪♪ energy demands are rising. and the effects are being felt everywhere.e increasing production in the permian basin by 15%. and we're projected to reach 1 million barrels of oil per day by 2025. all while staying on track to reduce our carbon emissions intensity in the area. because it's only human to tackle the challenges of today to help ensure a brighter tomorrow. i've always loved building things. not just structures and skyscrapers, but teams who make it all possible. after all... we wouldn't be where we are today without them. so we made sure that like these buildings... their futures may also stand the test of time. ♪ ♪ ♪ ♪ >>> all right. welcome back let's call this old tech on deck oracle reporting first quarter earnings frank holland joins us with the key factors to watch. >> brian, a lot to watch oracle remains well off its highs, but even as it faced macro headwinds and tailwinds that could play out in various ways remember, to spend with the lingest returns. also, a company has guided for a loss due to spending russia operations as well with

ceo saying he anticipates a worldwide recession and the stock is on pace for its worst day ever frank holland joins us with the details. frank, not pretty. >> fedex is warning dragging stocks lower like its rival like u.p.s. raj subramaniam said, yes, when asked if we're nearing a global recession. >> asia is the center of manufacturing in the world when you see these things happen, i feel it's a leading indicator of something more profound the u.s. has been insulated because the u.s. dollar is the currency of choice for the world. there's some insulation there. i do see the u.s. slowing down, too. >> the huge eps miss is raising a lot of questions about execution issues as opposed to macro issues express, where fedex gets about half of its revenue, that was flat ground and freight were up the profit outlook for q2 about half of current stimates back in june, fedex raised its dividend by 53%. i spoke with raj in previous weeks. they said they are cutting hours and they won't be having a hiring push this year, just a much smaller hiring effort >> what do you think, frank? what are the analysts

i'm frank holland. joining me carter, mike, and special appearance b

. >>> good morning i'm frank holland in for brian sullivan let's kickoff the hour with the check on the markets and money stock futures a bit muted. we are not seeing too much action in the futures. despite the selloff last week. you are seeing all three indexes flat at this time of day that can change as the morning continues. stocks coming off another tough week of trading with all three indexes facing steep losses. the bond market very much in focus with recent dramatic moves among treasuries the 10-year treasury right now sit sitting at 3.77. something to watch big moves in the oil market as well wti right now below $80 a barrel that is something we have to watch. wti well above the high of the year we want to check in on crypto. we are keeping out eye on it bitcoin below 20,000 right now at $19,286 keep an eye on ethereum and xrp. up 40% for the month >>> time to get worldwide with julianna tatelbaum standing by with the latest moves overseas julianna >> frank, good morning let's kick off with the action in asia. it was red across the board in asian session following the st. louis

. >> we have an earnings on oracle frank holland has been listening in on the call what's the latest?g during the call as oracle laid out some optimistic guidance, and forecast for cloud growth, but for this quarter, currency impact is certainly the story as the eps miss you have to remember, the dollar gained almost 7% the ceo said that eps's added by eight cents, and they minced by four cents >> services and short-term -- also 20, acquisition are included the best. >> frank, holland, thank you oracle, it's not expensive, courtney, does that mean you want to own it >> it's not that expensive, they have about $56 billion net debt. so not something i'm going to jump in with two feet. >> stephanie link on v.o.t. last out, guy, she was saying there are a lot of other better optioning than an oracle this is the first time ever that ed eddie mercks was mentioned cerner not fully integrated, which would mean think get a higher multipap. >> they already had guided, they're going we had board that. that's a big deal for them when you're looking anyone vin, even with a big debt load, this is t

you are watching "worldwide exchange" here on cnbc >>> good morning i'm frank holland in for brian sullivan let's check on the markets and your money stocks green across the board. the dow could open up more than 200 at the open. s&p and nasdaq 1% higher we want to check the bond market yields we are still seeing the inverted yield curve. the 2-year treasury above the 10-year treasury 4.264% also important to note the 5 5-year above the current mark at 4% and brent crude is above $85 a barrel we saw it dip yesterday briefly. a look at cryptocurrency bitcoin right now. just above $20,000 mo moving higher in the pre-market. both up 40% in the past month. >>> let's go worldwide with geoff cutmore with the trading action >> good morning, frank let's update you on where we are with a couple hours under our belt for europe equities we have a bounce back after what has been a volatile start to the week the dax and cac in germany and france are higher. in terms of sectors, it is auto, technology and travel stock among the biggest gainer ftse mib trading down .50% ftse 100 has been turning around fr

. >>> good morning i'm frank holland in for brian sullivan let's kickoff the check of the markets and money. stock futures in the green across the board dow could open at 200 higher the s&p and nasdaq higher as well stocks after a selloff on thursday with the s&p hitting a new low. all three indices falling 1% to 3% apple shedding 5% of reports after decline of products. specifically the iphone 14 and the downgrade by bank of america. look at mega cap tech stocks here you are seeing meta as we mentioned with hiring cuts down 1.5% microsoft in the green amazon up. also, check on the bond market yields are falling a bit weaker dollar is helping the 10-year treasury at 3.71 still the inversion. the oil market oil prices getting a boost as we hear more reports of a possible production cut by opec plus. wti up 1.5%. brent crude up 1%. natural gas with a boost as well >>> looking at the big money mover. nike shares hammered in trading on the back of earnings right now, earnings and revenue down 9%. more of a selloff after that nike warning of overinventory. 44% surge of inventory due to sup

i'm frank holland in for brian sullivan it is 5:30 a.m. on the east coast.ck futures are looking. red across the board dow could open up 200 points lower at the open. the s&p and nasdaq around 1% lower at this time let's get to the top stories bertha coombs is back with those. >> good morning, frank so amazon is raising pay for hourly workers again as the company prepares for the holiday shopping season and a second prime day event next month in october. amazon will increase average starting pay for frontline warehouse workers up to $19 an hour many earn between $16 and $26 depending the their location amazon raised pay a year ago to $18 an average an hour amazon is spending $1 billion on the pay hikes over the next year. >>> several major advertisers including mazda, forbes or pbs kids have removed ads from twitter. that's because they appeared alongside tweets soliciting child porn the company has zero tolerance for sexual exploitation and twitter is working with advertising clients to investigate and take action to prevent this from happening again. >>> w

i'm frank holland. the score pce was revised higher a rarity for those pictures.he cleveland fed president said current fed interest rates are not restricting the economy. >>> concerns about higher prices, weekly ly jobless claim went below than expected carmax is the biggest loser in the s&p 500. now down more than 20% after reporting earnings far below estimates. the company blamed economic factors that make cars less affordable other auto-related stocks are down sharply >>> in germany, porsche rose on the first day of trading the carmaker is one of europe's biggest public offerings ever. >> franks, thanks very much. >>> let's start back to apple. the production pullback is not swaying our next guest he is keeping an eye on cyber names like z-scaler and palo alto markets. we are glad to have him. welcome. >> good to be here >> you want to talk the broad market or is apple so important >> i think apple is well-covered all morning. i've been watching on and off. broad market, if we want to talk about tech stocks and what's going on with tech stocks, it's impossibl

you're watching "worldwide exchange" right here on cnbc ♪ >>> and good wednesday morning i am frank hollandn for brian sullivan let's kick off your wednesday morning with a check on u.s. stock futures after a mostly lower day for the major averages with the dow and s&p hitting their lowest level since november of 2020 futures right now as you can see right across the board, the dow looks like it opens at 100 points lower and the nasdaq and s&p as well. want to keep an eye on the bond market hitting multi-year highs the five-year, its highest level since 2007 4.19 also the ten-year, highest level since 2010 you see it this morning at 3.988, just bumping against that 4% yield, something the markets are certainly watching and the 30-year long bond, the highest since 2014 also along with bonds we have to check on the rates for the 30-year fixed mortgage, the mortgage that most of us have for our homes. it's above 7% for the first time in nearly 20 years we're also watching the energy market, of course, with hurricane ian in the gulf coast. oil, however, staying most ly steady we're seeing wti a

remarkable memo written by the ceo over there saying the company just grew too fast let's get to frank holland as we said and the half. >> reporter: i'm frank holland in for scott wakner. >>> plus tech getting wrecked, the number of mega-cap names hitting new lows where we are today with that highly expected inflation. but first let's get a check on the markets now. stocks posting modest gains but you've got to remember the dow, s&p and nasdaq all on pace for their worst year right now since 2008 the dow just a bit ago was up over 100 points. the s&p and nasdaq still also off their highs. the nasdaq the best performer. yields on the rise as well the yield on the two-year hitting its highest level since november of 2007 and as i mentioned i'm joined ri right now by jim laventhal you had some comments. we called you the farmer and you're also the forecaster you said if it happened we're going below 4,000, it did, and then you said the bull case it might be over. so i have to ask you -- that's what you said, though. i watched the show >> first off you're being generous and i appreciate it everyon

wisdom tree cloud etf on pace for its worst day here in three months frank holland with a closer look at some of the movers in that space. frank. >> it might be the poster child of what we're seeing in cloud stocks shares down 10% on rate worries. strong earnings earlier this month the catalyst the hotter than expected inflation, what it can mean for rates putting pressure on many high growth names. data dog down 7% it was getting lower than it was earlier. you see stocks like cloud flare do down 10% many investors were believing we were seeing the bottom when it came to cloud stocks wedbush says this could be a buy the dip moment. >> frank holland, thank you. >>> well, the overall inflation number may have eased a bit but grocery inflation is getting worse. just wanted to zero in on food prices in august, u.s. food prices at home, which is grocery, were up 13.5% and that is an acceleration from null which is 13.1 it's the 15th consecutive monthly increase fruits and vegetables up 9.4%. poultry up almost 6% dairy products really strong on the pricing. ice cream and milk up 16%. cereal

i'm frank holland. filling in for melissa lee joining me carter, mike, and special appearance by scott nations, president of nations indexes. before we get to tonight's trades, let's triage the markets. carter, we'll begin with you >> what we know is that it's always tempting to try to say, hey, the worst is over, but it's usually better to anticipate more trouble and then get increasingly encouraged if it doesn't materialize. it was a bad week. it's been a bad year i don't think it's over. >> mike, over to you carter saying better safe than sorry. >> yeah, i'm inclined to agree this was an exceptionally tough week i have to say that the inflation data that we received didn't surprise me, but it doesn't matter if it surprises everybody else then the market reaction was sufficient to surprise me there. i think a lot of people who have been observers of this were probably expecting maybe better than the whisper number inflation number, apparently i'm not exactly sure what was going on there as holders of

i'm frank holland filling in for melissa lee. joining me tonight carter worth, before we get to tonight's trades, let's triage the markets. carter, we're going to begin with you >> it's always tempting to say the worst is over but it's usually better to anticipate more trouble and get increasingly encouraged if it doesn't materialize. it's been a bad week, a bad year, i just don't think it's over. >> carter saying better safe than sorry. >> i'm inclined to agree this was an exceptionally tough week the inflation data we received didn't surprise me, but it doesn't matter if it surprises everybody else, then the market reaction was sufficient to surprise me there. a lot of people who have been observers of this probably were expecting maybe better than the whisperer inflation number apparently i'm not exactly sure what was going on there as holders of adobe, as holders of fedex this was a painful week fedex is the one that concerns me a little bit more the adobe situation is indicative of how the market is going to react to news th

we'll have to wait and see >> we'll find out if it's a kitsch sink quarter, frank holland. e on tonight with those numbers and reaction let's get the trade, though. david, down 40% in a year. fedex. i don't think they're at any risk of going out of business. at some point, is there value here >> i don't see any value right now. frank mentioned 2025 earnings. i don't care about 2025 earnings right now. the company has continued to deliver a box of because news. the preannouncement last week, as you mentioned, just calls into question the entire thesis that anyone could have on this name and it raises significant concerns about execution about what remains in my opinion to be an underperforming asset but y'all mentioned, the cat is out of the bag right now the question is, how much of this is macro driven and how much is self-inflicted if you look at fdx really overextended themselves in returning their capacity and you couple that with the readthrough with some stuff from u.p.s., i would say this is more self-inflicted right now that's why we know this earnings ain't about th

downgrade of deirdre bosa t-- of adobe this morning despite spending on cloud remaining strong, frank hollandwatching that today hey, frank. >> today cloud names, enterprise names, the wcld dtf down more than a percent cowen expects them to trade on the ten year. it was a trend that broke down a bit at the start of the month but a higher than expected cpi heightened concerns that a 100 point hike was coming at this week's fed meeting pushing these lower again. a data dog, zscaler, snowflake seeing the most negative impacts. when they were able to rise, there was thought we saw a bottom but the performance today will be watched closely. tomorrow salesforce launches dream force in the bay calling the conference an inflection point it's seen as a read for the current cloud environment and i.t. spending to a certain degree analysts and investors will be listening for the stronger dollar components. >> already feeling like a dream force of years past. the city buzzing as they got ready over the weekend. >>> after the break, a hack of grand theft auto has take-two shares falling that story when we'

all joining me here, the warning , frank holland is here onset. >> yes, melissa, early warning. it really hit the stock. issuing that warning, saying that it is facing a soft macroenvironment, been a bigger mess, obviously that pressure, it is really that guided, take a look at the numbers. you don't need to be a mathematician to figure this out. fedex guiding. it is also drawing the guidance. they expect business conditions to weaken. spelling out the issues, saying in part, global volume has declined. they lagged those volume declines, they remind hi, i spoke with a few company executives. the big issue is there overseas. bringing systems on line, this is something that has been a continuing drag on results, also, covid lockdowns lasting longer than expect did. volume is returning slower than expected. they cut hours for workers enclosed about 90 fedex office stores. again, they cut costs as they face the weakening demand. >> they guidance, they talked about their guidance in the forward-looking forecast, june 23. this is really falling off a cliff, literally. for them to cut

frank holland covers the company, joins us with more. yes, it was a guide down, frank but this is a big move lower for adobe shares. >> really big, having their worst day since march of 2020, so since the start of the pandemic as investors examine the mixed guidance and the deal to buy figma, saying it's a deal focused on long-term growth. >> we believe the combination of adobe and figma is going to be a unique combination that completely ushers in a new era of collaborative creativity. >> today investors and analysts calling the deal pricy, this $20 million price tag, a 50 times spend, assuming it doubles this year, but not guaranteed. it creates new growth, a new growth driver for adobe. think photo shop and premier, the largest revenue generating segment seeing growth slow and companies spending to get into the metaverse analysts say the deal is defensive, keeping salesforce and microsoft from acquiring the -- figma from acquiring the company and increasing competition. back to you. >> for more on this deal and the broader tech m&a lan

. >> no, i was being facetious enterprise and cloud stock, valuations come down, frank holland, and some pretty big impacts now, they expect these names to trade based on the moves of the ten year with a negative correlation, at least in the near term. earlier in the month, cloud was able to rise with the rate hikes, but hotter than expected cpit high valuation, high-growth names, a dev-op, and viva some of the showing how broad all this rate pressure is it will be washed very closely. tomorrow, the annual conference a real inflection point. it's seen as a read. >>> brightening, back over to you. everyone thinks of you an a bond guy. do you feel like some of these stocks are getting attractive? >> it's like catching a falling knife. i think there's some stuff out there interesting. i don't think we have reached prices that make sense as an entry point. >> what is interesting >> well, you know, some of the stuff that was done that were unicorns, you know -- this looks a lot like the internet bubble. >> what does >> this current correction we're coming out of on the nasdaq. we have a lot m

first a news update with frank holland. >> ukraine is seeking to join nate to. president zelenskyy said he submitted an accelerated application after russia started the process of illegally annexing ukraine the u.s. is sanctioning more than 1,000 people and businesses connected to the russian invasion president biden said russia is showing contempt for peaceful nations everywhere with its phony claim of annexing ukrainian territory. >>> in moscow, putin signed a ceremony to sign the annexation treaties he said he would use all available means to protect the annexed parts of ukraine. >>> in florida, state officials say there are at least reports of 21 deaths in areas hit by hurricane ian. they say only one of the deaths has been confirmed rescue crews continue to search damaged areas for survivors. power has been restored in some areas, about 2 million customers are still in the dark. that's the latest. deirdre, back over to you. >> thank you very much >>> wisdom tree unveiling a new etf. that coming amid a brutal year for ether and other funds that we track at "

. >> thank you let's get to frank holland for a cnbc news update. >> here's what's happening russia spent at least $300 million to influence politics since 2014 according to a u.s. intelligence review which is declass if ied white house official said the covert financing are shared with other nations >>> in connecticut a jury hearing evidence how much alex jones should pay he said he believes the shooting is real but said the comments are protected by free speech. >>> east of los angeles, what started as a disturbance call turned into a flash flood nearly sweeping away a mother and children the officers worked together to get them out of harm's way courtney, back to you. >> thank you. >>> veinvestors feeling the wor. optimism seems to be fading. is there opportunity out there we'll speak to the co-president of morgan stanley next stocks at session lows the dow down close to 1,000. s&p 500 down 3.3%. that is session lows ow lchwi brit back go green. go wind turbines. go gorgeous reliable grid. go emerson software. go science people. go breakthrough meds and safe science. go space age welds

stick around meanwhile, expecting earnings in last hour slated to come out after the bell frank holland that surprise announcement i spoke to fedex they said the early announcement a result of a filing error not intentional in any way biggest surprise of this whole thing. revenue and eps basically pre-announced last week. the company also laying out plans for its cost-cutting measures as much as $2.7 billion. bulk of that coming from its express division including reducing flights for signature air delivery and parking planes, up to 5% cut from ground service. closing facilities, cutting delivery by 2025 looking to cut $4 billion parton an overall transformation plan. starting next year increasing rates, starting jang 7% hike for express and ground almost 7% to 8% for freight. basically trucking and the ceo saying fedex continues to focus on yield management revenue quality. shades of the better not bigger from u.p.s new ceo implementing that. look at the report you will see a lot of things put analysts to basically errors in operation by fedex as opposed to the macro pressure ceo point

cloud stocks today pretty much the worst day for that sector since june we'll bring in our own frank holland for a look at some of those names getting hit hard. >> as you mentioned, getting hit right now falling on a rising rates fund, high valuations of many stocks also making them very pressured let's look at some of the names. one is asana that had been doing well in recent days, having a bit after rally during the month and other names we've seen hit hard by higher interest rates, datadog, snowflake, zscaler, cyber security name getting hit as well it was thought it was a defensive area of tech during the recent days. this is the recent performance of cloud etf as well as the ten-year and in recent days we've seen the ten-year rise along with cloud rising as well so some thoughts by analysts at least that maybe we reached what a lot of people consider that moment of capitulation or the bottom for the cloud stocks please and this is the moment where investors were ready to jump back in despite high valuations and the interest rate pressure but the relationship is starting to break today y

perhaps going to be as much as 40% lower >> not to mention the div hike earlier in the year which frank holland about he has more on fedex >> i think you're hitting on what analysts and investors are looking at fedex's q2 guidance is raising a lot of eyebrows. the guidance right now is half of what the estimates are with the street's looking for for f2. 40% lower than a year ago so to your point, david, it speaks to execution. why are we seeing such a big drop in profit so one thing, even though fedex is bullish about its guidance i was there at investor day and spoke to raj and one thing that everybody noted volumes were down and last quarter volume was down for express down by 11%, freight business down by 4% so there was always that weakness in volume. so that's something that has been persistent but before fedex just had a lot more pricing power then a lot of questions about how is fedex going to meet fiscal targets for fiscal year 2025 14% and 19% compound growth, revenue growth margin expansion a lot of questions about that right now. looking at the numbers and including increasing the di

become an agent of innovation with invesco qqq >>> i'm frank holland. here's your cnbc update.has weakened to a tropical storm with 55-mile-an-hour winds. but it's still dumping heavy rains on northeastern florida. governor desantis calls it massive, saying it should only be seen once every 500 years rescue crews are looking for people trapped in their homes by rising water there are two reported deaths. ian is moving into the atlantic and expected to regain strength and make landfall in south carolina tomorrow. instituted the kremlin says it will formally annex four regions of ukraine in ms. cow red square is closed to prepare for a celebration sham referendum have been denounced in the west as illegal and rigged nato says all evidence indicates nord stream gas line was. >>> the market selloff has been picking up steam today we did get below 3623. the vix elevated at 33 isn't necessarily the 40 or so some people have been looking for and even the dollar at 112, not back to the 114 we got earlier in the week bob pisani is on set >> we're back to crummy technicals 440 new lows a

myself welcome back now their exclusive results from the latest cfo council as we get to frank frank hollandises and we'll get answers from the cfo. inflation seem the biggest business risk for 29% of the survey and here in the u.s. it's 6.3% year over year according to pce. the dollar rising 5% in the last month increasing the costs of goods and services in the u.s. and these have become more positive about inflation and the second quarter of the year, 40% of cfos saw inflation as the biggest risk and that's a decline now and other big changes, considerably less concerned about supply chain and considerably more concerned about consumer demand as interest rates continue to rise. cfos also have a very mixed opinion on if inflation has peaked already and a lot of discussion on the markets. 67% said no, it hasn't peaked yet and we get a fresh read, and a clear majority support and increasingly hawkish tone, 71% say the feds get inflation under control and 29% say the fed is doing a poor onand in this high inflation environment and more than a third see the healthcare sector having the biggest

make of it, from the bank of england in the bond prices and futures markets >> if you watched frank hollandg that it was pretty of the end of the nasdaq. and that was before the bank of england i would say panicked i won't say that they had a considered thought about what to do but reaction totwo-year, david, basically, that the fed has completed, and i'm not so sure that's an accurate depiction >> certainly wouldn't seem to be what jerome powell's been indicating or many others, but as you said many times, and you guys reported on this as well during your show, the two-year seems to be dictating where we go in the market right now >> right, and i think people were surprised, because it's been on the move four and a half. people were expecting 5. mortgage rates continue to go higher, and maybe there is a maybe a crescendo moment where people say, the fed is cognizant that they could destroy the economy, and maybe that's not their goal >> i just think, you know, it's all different amounts of half blinks, quarter blinks, maybe -- how many eyes, you know, there are animals with a lot -- maybe

a central bank of holland, and you got to think of that person's writing and citing this person for a lot of, which i would say, is disinformation and not scientific. liz: well, frank've got the fed meeting next wednesday, and wasn't currency, cryptocurrency supposed to protector be some type of separate asset class that would somehow be a contrarian investment during very difficult times for equities? who knows? it just feels like on tuesday, when the whole market was tank ing, so did bitcoin, and then of course, we haven't seen really strong moves for quite sometime. how should this asset class be viewed? >> there's no delta. the bulk of the coins are out there are securities, in my opinion, because the bulk of them that traded have gone through the proof of stake but they are all going to follow like silver follows gold and the whole thesis of gold as being a great hedge against inflation, and the same thing with bitcoin. so i think that the alternative asset classes, and that's what you have to look at and as you go to a new industry, a new group, there's just going to be much greater volatility and that's what bitcoin is, and bitcoin mining stocks are just lik