john lawler, the ford motor cfo. the problem right now is not with demand so much, it is with supplying these vehicles, getting them made. tom: i think this is an important point. i have been remiss in not bringing this up. i saw some bloomberg data this week -- i think liz ann sonders brought this to me -- the number of days from shanghai, pacific rim over to america to deliver the stuff from asia is still the same ugly number it was not that long ago. the supply issue has not gone away. jonathan: china the weak spot. the pandemic restrictions and the access to chips still a big factor. lisa: but they can offset that with price increases. to me, one of the most notable things he said was that there still is incredibly strong demand and they will continue to probably raise prices throughout the year because of this. how much can they do this before you get pushback, considering the fact that this is a supply shortage, it is fundamental, and it is across-the-board, and the issues in china are only exacerbated? jonatha

we dig through the quarter we do it next. >>> don't miss the interview with ford ceo john lawler.ve so many numbers impacting the market this morning. we are back after this >> announcer: currency check is sponsored by interactive brokers. this is lisa. she's a posh virtual receptionist. when you're busy, she'll answer your calls and assist your clients. you can't be in two places at once, let posh answer. posh virtual receptionists. fortitude gold producing high grade low cost gold in nevada usa. a gold investment delivering monthly cash, dividends and substantial yield. fortitude gold. >>> welcome back to "squawk box. story of the morning shares of meta up in a big way up 17% right now the company reporting an earnings beat higher than expected daily active users. it is forecasting stagnant revenue. i was talking about this did you make the gif i saw floating around with mark doing a jig? >> a superman. think about mark running into the phone booth and coming out from clark kent to superman. if you thought about mark zuckerberg on the fourth quarter call, it was vulnerable. face

the cuts coming in engineering as ford pivots to electric vehicles ford cfo john lawler will be on "squawk box" at 7:30 a.m. eastern. courtney, one to watch >> thank you, silvana. >>> let's turn back to the markets and tech struggling to sustain gains in recent days look at nasdaq over the last week a wild ride. last thursday, down 2% friday, down another 2.5%. monday a 1.3% gain. tuesday? nearly 4% loss the worst session since september of 2020. yesterday, failing to hold on to early gains for a slightly lower close. faang stocks down sharply from the most recent highs. netflix, the big one off 73% from the recent high alphabet and amazon down 25% m meta/facebook, off 55% from the most recent high the winds of change could be in the air for meta with the stock sharply higher the company posting mixed results for the most recent quarter. earnings topping estimates with sales coming up short. key user metrics is something to be desired meta possibly looking at the first revenue decline since going public joining me now is wedbush's joel kulina joel, thank you for joining me we went through

the company cfo john lawler spoke with us earlier about the issues plus a big push into the electric hicle world. have a listen. john: our early reservation and orders are highly skewed towards california and the east coast absolutely. one other thing to point out. we do have high-end pickup trucks in the price ranges you have talked about. we also have the starting series around 40 thousand dollars. we have made the vehicle affordable for our commercial customers and those that would want to enter into it at an entry-level series. >> what is the torque issue? this is a little bit engineering away from the financial side. people are saying this thing cannot pull like other electric vehicles. you are in the meetings with your engineering degrees. help us with that. >> this truck is fully capable. it is built ford tough. it has all of the capabilities you need in a pickup truck, the horsepower, the payload, and it does have the towing. we feel very confident that this truck will meet customer needs. and it will represent ford tough as we have for many years with rf -- our avenue series.

shery: john lawler speaking with bloomberg. here is a check of the latest business flash headlines.re buyback program for investors concerned by softening demand. the nickel giant will purchase up to 500 million shares over an 18 month period. 10% of outstanding value and roughly $8.3 billion. suffered by the funds from norway, singapore and abu dhabi may have signed on investors. sources say gic and the abu dhabi investment authority will be among names announced on monday. the ipo hopes to raise as much as $2.7 billion, making it india's biggest listing. bloomberg as learned accompanied missed an interest payment on the latest sign of pressure of chinese developers. it is the third payment in april that went through a 30 day grace period before going to default. haidi: for more on what to expect from the china's market open, let's bring in our china market reporter. just a high will it stop as the yuan plunges? >> it is still quite strong against trading partner currencies. it is very much about dollar strength, but people tend when the yuan weakens against the greenbank and it is