joining me now is cnbc's morgan brennan. disney's moves and what we heard from the ceo on cnbc this morning. >> it was quite the morning here, lindsey. significant is a good word for it. a major quote, unquote transformation, a mere three months into his renewed tenure as ceo of the media and entertainment giant. disney will be, in addition to the layoffs and billions in cost cuts, organizing into three divisions, entertainment, espn and parks and experiences segment. the idea, give more power to content executives, put greater emphasis on sports media, and take actions that will make the disney plus streaming platform, which is currently losing money, as is the case with so many other streaming platforms across the industry, profitable. so in a wide ranging roughly 35-minute interview on "squawk on the street," he discussed some of the ways that disney is going to tighten its belt, including a more targeted, more discerned approach to how it spends on content. take a listen. >> we have to look really hard at how much we have

joining us is morgan brennan on cnbc.ll, good morning to you. and i will say some green chutes ahead of the spring home buying season which is so critical and typically seasonally very busy time of the year for housing. we've seen demand in the housing market hit hard by the federal reserve rate hikes that started last year, but now signs of life as mortgage rates are lowest since last september. and that has propelled a rebound in mortgage applications. even as buyers return, it does raise the supply question, is there enough inventory? that was an issue contributing to some of the huge price gains that we saw throughout the pandemic. it is arguably an issue now as some prospective sellers may choose to stay put because they have lower mortgage rates. so we'll get a check on all of the cross currents and how it is teeing us up for the spring season with readings on weekly mortgage applications, home wilder sentiment, housing starts all coming this week. also worth noting that some home price declines have happened in maj

i'm morgan brennan with jon fortt. down the selloff and the opportunities ahead with former carlisle partner. >> plus, we'll discuss tech's rough week and the setup for software demand with bill mcdermott. >> but let's get straight into our market panel joining us now are chris

so joining me now from the stock exchange is cnbc's morgan brennan.s really strong jobs report. >> that's right. so it may feel and seem like a little bit of a head scratch right now because, as you mentioned, dell joins a list of companies that are growing, including just in the past week, paypal, pinterest and fedex as well as so many others you just touched on here. we are seeing the layoffs climb well into the hundreds of thousands. it's not showing up in the broader labor data, at least not yet. that's of course because we're coming off these incredibly tight labor market dynamics. so you're seeing more job openings than workers still right now. unemployment rate is at a 53-year low according to that jobs report last friday, and if you think about the kinds of skill sets that companies, many companies across many industries both large and small in terms of the size of those companies are looking for in terms of the types of jobs that it'd still be recruiting for, it's a lot of those tech skills. it's engineering. it's coding. it's software, it's

joining me now from the new york stock exchange is cnbc's morgan brennan.how large that will be. widely expected to be a quarter of a percentage point when we get that announcement. that would represent a further slowdown in the pace of tightening coming off of a half a percent increase we saw from the fed in december and then four before that. why are we seeing the slowing pace? data softens, inflation is cooling. still much too high for the fed's liking. of course, given the fact we did see this fast and furious pace of increases last year, there's a lag affect in terms of those hikes being realized in the economy as well. that is what is going to be watched. that's one of the things i will focus on later today. >> is there any sign after this the fed could be done? >> that is the key question. this is what markets are so unsure of right now is where the fed goes from here. traders are betting you will see one more rate hike similar size in march. then the central bank will pause before feeling moved to potentially cut rates toward the end of the year. th

. >>> joining us now with more is morgan brennan, co-anchor of "squawk on the street" on cnbc.. you had the chance to speak to the head of norfolk southern. what did you learn? >> i did, and good morning to you. this was the first interview that coo alan shaw has done since that norfolk southern train derailed 20 days ago. it was a 30-minute discussion. it took place in east palestine, just across the street from the site of that derailment. and amid water tanks which are a big part of the cleanup efforts that are now under way. we talked about quite a few things including safety regulations, also i asked him what the cause of the accident was, and it is something he's prohibited from discussing right now while there is an active investigation under way. we also, though, discussed that difficult decision to do a controlled release and burn all of those toxic chemicals because there was this fear of a bigger explosion. in light of that, i asked how expansive the testing has been since some residents complained of sore throats and burning eyes and headaches and other ailments. ta

. >>> a mixed day for the averages welcome to "closing bell overtime" i'm morgan brennan, with john forbesof earnings come jing your way etsy has moved 9% of earnings every quarter for the past two years. plus, we're going to break down the fed minutes and what they mean for your money with new president joe amato,

can do better that's my commitment >> that was norfolk southern ceo alan shaw speaking to our morgan brennan, ohio. the ceo emphasizing they need to do better on safety. he touted more than a billion dollars of investment in safety, which i think will ring hollow do you know what they spent more on share buybacks, $4 billion last year on buying back their own stock. a $15 billion buyback program. if he's trying to win the populous war on the message on what they're investing in safety, and the victims' fund they've put in a million dollars, they're going to face a lot of heat. >> for so long the rails have been graded on operational efficiency we look at average rail speed during the quarter interesting if the street looks at other metrics regarding, say, your safety ratio or injury ratio. we mentioned the upgrade of wolf but their target is only 225, where we are now. >> the stock is up, what, 10% or so since the accident. they're going to face lawsuits, but even more than that, they're going to face this public scrutiny across mainstream media and politicians. this is just the beginning of

alongside morgan brennan i'm tyler mathisen a blockbuster jobs report this morning and the markets react with a whimper is that a good sign? the markets no longer fearing a more aggressive fed? we'll dig into what could lie ahead with the economy, the fed, and stocks >>> plus stocks off to a very hot start to start the year. speculative names seeing huge games. the stock has, get this, tripled this year. but is there anything real to support this or could the stock slide back into reverse. >>> but first a check on the markets with the major averages lower this afternoon for the most part on pace for gains for the week the exception being the dow. the s&p is down 1% right now let's get over to dominic chu and kristina partsinevelos >> we're down. it's been a pretty decent turn around only to lose some momentum you've got shares of american express and caterpillar alongside apple helps to the upside for the dow you've got home depot, honeywell. let's get a check on shares of nordstrom, you can see up d decently the high end department store is target of ryan coen, who is building in the re

don't miss morgan brennan's interview with norfolk's ceo on "closing bell overtime." >>> a democrat isicilline is the first house democrat to retire without seeking higher office in the current session. scott, back over to you. >>> bertha, thank you very much that is bertha coombs. >>> docusign shares are down josh brown -- >> yes >> they go to sell they take it to sell for a stock up just bought last week what do you make of the call >> yeah. >> what do you tell people >> a lot of the down grades are coming from analysts upgrading it as a buy. i try not to get overly focused but the commentary is interesting. i think the analyst has it backwards. docusign announced layoffs putting the stock up $70 a share. i still think it is good news. that is the reason for this downgrade. it's a sign of weakness and demand the thing to think about here docusign is following the playbook this is working and will continue to work for the higher multiple tech names where profitability is still in doubt. and so i think the more they can do to right size their workforce with the revenue and profits will

i'm jon fortt with morgan brennan.m coinbase, palo alto, and toll brothers and jpmorgan's chief market strategist joins us. >> and the ceo of norfolk southern after

joining me now is morgan brennan. walk us through the decision.ight. two takeaways. it's not done raising rates. even when that's done later this year, policymakers plan to keep rates at the higher levels. what does this mean for something like housing, which we know has fallen off a cliff in terms of how depressed it has gotten. mortgage rates are tied to the ten-year treasury yield, which does not move directly in line with the fed's rate setting decision. actually, the ten-year-year-old has come off a bit since its october high. with it, mortgage rates. the ten-year yield is a reflection of market expectations for where the economy is headed. we know that the economy is slowing down right now in large part because of the fed raising interest rates. a typical 30-year fixed mortgage rate is now about 6%. that's off from october. it's still about double where we were a little over a year ago. what that has meant is it weighed on sellers, on buyers who are now facing higher borrowing costs. that has put downward pressure on home prices. at some poi

morgan brennan sat down with norfolk southern's ceo. >> senator brown over the weekend did an interview do big dividend checks. lay off workers. says these things are happening because the railroads are simply not investing in care safety and the rail lines themselves. >> as i noted, we invest over a billion dollars a year in our safety program. in the form of maintenance, equipment, and technology. there's more to be done as you can imagine. since this occurred, every single day, i've asked myself what could we have done better? what could we have done to prevent this? and you know, morgan, it's pretty clear that our safety culture and our investments in safety didn't prevent this accident. so we need to take a look at this and see what we can do differently and what we can do better. that's my commitment. >> for more on that epa order, let's bring in nbc news white house correspondent, monica alba. the epa isn't pulling punches. they say, quote, let me be clear, norfolk southern will pay for cleaning up the mess they created and for the trauma they've inflicted on this community. my u

i'm jon fortt with morgan brennan.ming fast and furious this hour we got reports from carvana, block, booking holdings, intuit, warner bros., discovery, autodesk and more. >> that's right. we're going to bring you all those headlines as they cross. we'll talk to the ceo of unity software, which is falli ing sharply today. >> let's get straight to our market panel, joining us are adam

joining me, morgan brennan. what is this, $7 million for 30 seconds. what can you tell us?you can expect to be featured in the commercial breaks. budweiser will not be the sole beer advertiser this year. there will be beer and liquor brands featured, marking a shift after busch ended its exclusive advertising sponsorship that existed more than three decades. sports betting sites will have ads as well. there's going to be an ad campaign, it was introduced last year, focused on jesus. it will run 90 seconds. the cost, around $20 million. what viewers cannot expect to see this year? all the cryptocurrency commercials that were so heavy in the commercial breaks at the game last year. of course, that's in the wake of the ftx fallout that we have talked about. the super bowl still regularly brings in an audience of 100 million people. it's tv's biggest event of the year. thus, it's advertising's biggest night of the year as well. hence, the eye-popping prices for fox. this is going to be a company record, according to executives, in terms of total revenue the game is expected to

morgan brennan is here with more on the companies likely to benefit from all of this roman swiezer has a look at the political fallout and a mitt yuran will weigh in on the security angle as we try to figure out what, if any, sensitive information has been compromised. morgan, let's start with you what do we know? >> what do we know in terms of these unidentified objects there's still more details to come, we don't know all that much. i will say the u.s. air space and defense ita hitting a multiyear high school, although some defense stocks are under pressure investing digesting a rapid succession of shootouts of unidentified objects it was three in three days now you have this report that the biden administration may propose the largest u.s. budget ever, defense budget ever, and that's after pentagon comptroller mike mccord told "politico" he expects the top line figure to be, quote, a bigger number than congress had provided last year congress appropriated the fiscal 2023 budget in december, lawmakers authorized $858 billion a nearly 10% top line increase it was $45 billion more than

norfolk southern ceo alan shaw spoke with our morgan brennan about the company's cleanup efforts.. >> i've come back multiple times. i'm drinking the water here. i've interacted with the families here. and look, i know they're hurt. i know they're scared. i know they're confused. they're looking for information and who to trust i encourage them to ask questions. i think when they really dig into it they're going to see that all the testing, whether it's done by the epa or local health officials or our independent contractors, show that it's safe to return to this community. and my commitment to this community is we will continue with the environmental remediation. we've made a lot of progress >> be sure to watch morgan's full interview with norfolk southern ceo alan shaw today at 4:00 p.m. eastern on "closing bell" overtime let's dive a little deeper into the crisis with a marketing professor at the wharton school of business and a cnbc contributor, americus. already to you there's so many things this company has done wrong. walk us through it >> yeah, i appreciate the opportunity

right now the dow is -- it looks a little flat, i believe that's what cnbc's morgan brennan would telljoining me now. also the host of public radio's full disclosure, robert farzad. tell me why the numbers were so far off estimates. >> these numbers were very far off estimates and the word i would use is stunning. this was a stunning strong -- much more stronger than expected report and it comes at a time of the year where seasonally you tend to see labor reports that are a little weaker. the dow just turning positive in the last few moments, up 50 points now. the s&p and the nasdaq also moving toward the flat line. 517,000 jobs, just to put that in perspective, wall street economists were expecting 188,000 jobs added. you also saw average hourly earnings increase on a year over year basis up 4.4%. so wages continue to be resilient. in terms of the gains, it was a broad range of sectors led by leisure and hospitality. and professional business services, healthcare, government employment tick up as well here too. there have been some whisper numbers you could seeing some stronger than 1

ceo will sit down with morgan brennan this morning to discuss the headlines.xperience and all the toxicology reports and testing shows we're clean however, if folks are experiencing symptoms with way they're not accustomed i would strongly encourage them to see a trusted medical professional. >> if east palestine was your home, would you have come back would you bring your children back right now >> yes yes. i've come back multiple times and drank the water here i've interacted with the families here. look, i know they're hurt, i know they're scared, and i know they're confused they're looking for information and who to trust i encourage them to ask questions. i think when they really dig into it, they're going to see that all the testing, whether it's done by the epa or local health officials or our independent contractors, show that it's safe to return to this community. my commitment to this community is we will continue with the environmental remediation. we've made a lot of progress and we're cooperating and coordinating with the ohio epa on a long-term r

i'm here with morgan brennan and david faber live at post nine of the new york stock exchange.f cpi which comes in mostly in line, 4145 will take out mond's high and send us back to levels on thursday. >> 30 minutes into the trading session. three big earnings movers we're watching coca-cola beating on the top line thanks to higher drink prices that sent the company seeing faltering demand for simply orange juice and fairlife milk with those volumes down. shares are flat right now. shares of global foundry are higher after a records beat. the chipmaker guiding higher, the stock up 7% right now and it is up more than 20% over the past year and up almost 10% just to start the week. finally, shares of palantir surging after posting its first profitable quarter ever, expecting that to continue for the full current fiscal year too. the dual use software company growing quarterly revenue 18% with u.s. commercial sales up 12% and customer count up 79%. government contracting, though, still a majority of palantir's business and the ceo saying in his quarterly letter, quote, the widespr

i'm carl quintanilla with morgan brennan, david faber, live at post nine of the new york stock exchangete earnings, a lot more consumer facing names along with a state of the union address, powell tomorrow in d.c., we'll see how he follows up his presser last week. >> we'll be watching that closely. 30 minutes into the trading session. here are three movers we're watching tyson foods under pressure after the company missed on estimates on the top and bottom lines. earnings plunged 70% amid falling meat prices. those shares down about 5.5% right now. >>> new month on the move after making a $17 billion all stock offer for newcrest, a key competitor in the country. it comes amid a strong double digit rally for gold off november lows. you can see shares of newmont are trading down 4%. newcrest spiking up 11%. finally on semi, the latest chip name to report results and guidance shares are recovering the premarket losses now in the green up more than 1%. tune in next hour to hear the ceo has san choury break down the numbers. >> friday's strong jobs report caused a lot of market participants

i'm carl quintanilla with morgan brennan and mike santoli david faber has the morning off.ne of the new york stock exchange. some decent action out of materials and energy, but some of these elevated yields on the back of this hawkish fed speak is hurting tech a bit. dow down 111. >> we are 30 minutes into the trading session. here are three movers we're watching this morning. bp, that is headed higher after becoming the latest oil major to report record results for 2022 almost $28 billion in profit for the full year. shares up about 5.5% right now the company announcing a further $2.75 billion share buyback plan and boosting the dividend by 10%. a different story, though, for online educator chegg. that is plunging after another weak quarter, forecast also coming in below estimates for the once high flying pandemic darling. see the shares are down 20%. keep an eye on activision blizzard and microsoft, the former in the green after strong results for the video game publisher with bobbie telling "squawk box" it's confident the acquisition by microsoft will go through and the

i'm carl quintanilla with morgan brennan, david faber live at post nine of the new york stock exchangeng a little bit rattled by some of the hot inflation today. ppi came in above expectations and then some of the fed speak as well, as they saw a case for 50 basis points last meeting dow is down and the s&p down more than a percent. >> we're 30 minutes into the trading session. here are three movers that we are watching this morning. roku shares surging on surprisingly strong results as spending remains strong with key gains in verticals like restaurants and travel the shares up 13% right now. zillow in the green as well after beating estimates on the top and bottom lines telling shareholders the company is continuing to invest in, quote, a tough housing market while others retrench. okay they're not higher and down slightly shopify headed in the same direction, a better holiday quarter than expected but the guidance that's slowing revenue growth hitting that stock. you can see the shares are down 16.5% right now. president harley finkelstein is going to join us later this hour to brea

i'm carl quintanilla with morgan brennan and david faber live at post nine of the new york stock exchange, the dow is negative after the fed, as money goes into tech, semis growth and leaves staples and health care behind got factory orders out back to rick santelli with a busy day on data. >> i think some money might be going in thetreasuries or some of the people looking and investors looking at higher rates. rates are significantly lower on central banks that have raised rates, factory orders for december expected up 2.3%, up 1.8% that isn't a bad number. up 1.8%. to find a higher number you have to go back to january of '22 the number we're coming off of, minus 1.8, that was 32-month worse and they made it worse making it minus 1.9 on a revision we strip out transportation the number deteriorates. aircraft, auto issues there. it drops to a minus 1.2% minus 1.2% and that is the lightest going back to april of 2020. not very often that you got a minus sign of that magnitude on ex-transportation. durable goods all these in substitution of bid month. 5.6 mid-month, that remains and 5.6 a

i'm carl quintanilla with morgan brennan at the new york stock exchange david faber is in los angeles4060 area. the numbers just now gave us a small leg lower. >> 30 minutes into the trading session. here are three movers we're watching this morning newly after the parent company of yankee candle missed, company blaming a tough operating environment and slowing consumer demand shares are down 6% right now shares of affirm are under pressure again after morgan stanley downgrades the stock from equal weight to out perform. shares of the buy now pay later company are down 30% for the week following quarterly results. finally let's end wait gainer, cloudflare, coming off the gains that started the morning as earnings beat and guidance came in above estimates, the internet infrastructure firm noting businesses are being more cautious with their spending, but you can see the stock up 2% right now. over the past 12 months it's down almost 50%. >> meantime as we said, markets lower. s&p on pace for the worst week since mid-december mike santoli here to tell us whether there is something to wo

saying it's kind of -- it's the fault of biden alan shaw may get a pass, good interviews with morgan brennani come back and say, worse, worse, worse, well, analysts, why didn't you tell me he was the worst? >> we're going to pay attention to norfolk as well as the house is going to have hearings. >> i talked about a train wreck that i covered train wrecks in the old days, they were covered up >>> when we come back, ark invest's cathie wood is going to join us exclusively in the next hour europe is trading well after some headlines from lagarde after the weekend. we'll get cramer's "mad dash" as well when we come ba ck good night! hey corporate types. would you stop calling each other rock stars? you're a rock star. you are a rock star. no more calling co-workers rock stars. look, it's great that you use workday to transform your business. but it still doesn't make you a rock star. so unless you work with an actual rock star. hi, i'm ozwald. hello ozwald. pam, you are a rock- i wasn't going to say it. ♪♪ we planned well for retirement, but i wish we had more cash. you think those two have any

i'm carl quintanilla with david faber at the new york stock exchange and morgan brennan is joining usome markets, bulls trying to reclaim some ground here after the biggest weekly loss for the s&p since december. >> 30 minutes into the trading session and here are three movers we're watching this monday morning norfolk southern sliding following reports the epa sent a notice of potential liability related to last week's explosion and derailment of railcars in ohio, shares down about half a percent now. plus caterpillar getting downgraded to neutral from out perform at baird saying cat is, quote, nearing a cyclical pivot point and revenue growth is set to he slow those are down about 1.5%. we will end with meta, which is on the move higher again today on a report that company is planning for another round of layoffs after letting go of 11,000 employees last november that stock is up 2% this morning. it's up nearly 50% year to date, but keep in mind after a rough 2022 carl >> morgan, speaking of reports, a lot of them over the weekend, the u.s. shooting down the fourth unidentified obje

i'm carl quintanilla with morgan brennan and david faber live at post nine of the new york stock exchange yields remain elevated the s&p almost back to 4050 and the dow down 130 not a huge day for data, but we are getting lei. let's get to rick santelli. >> yes we're expecting our read on january lei to come in down 0.3, and it delivers exactly that down 0.3%. but there's something special about this one what is it well this is the tenth negative lei number in a row. the record is 24 in a row, which spanned from april of '07 to march of '09 but this is not a good run, and minus 0.3 actually is the best, it's the best since it was 0 unchanged in march of last year. so lei is, if they are indicators, they're not indicating an optimistic future. keep in mind the two-year note at 4.66 is up 14 on the week, 10-year note at 3.87 are up 13 basis points on the week so we see that a combination of hot jobs and hotter expected inflation, continues to boost treasury yields. morgan, back to you. >> rick santelli, thank you. >>> we are 30 minutes into the trading session. here are three big movers we'

morgan brennan joins us with the latest what was in that report? >> that's right.accident seems to have been caused by the failure of an overheated wheel bearing, the rail network, the train tracks that had hot bearing detectors as they're called saw the train pass three of them with temperatures rising at the third hot box detector which was just east of east palestine. the temperature of that wheel was hot enough for that hot box to transmit what's called a, quote, critical audible alarm message instructing the crew to stop the train to expect that hot axle it wasn't until the third detector that the temperature was hot enough to be an emergency and for that stop to be initiated which is what happened the ntsb also saying at the time of the derailment that train was traveling shy of the authorized maximum speed 50 miles per hour. no comment from norfolk southern but in my interview with alan shaw this week he said the railroad was awaiting the results as the lawmakers and transportation secretary pete buttigieg -- have a listen >> we invest over a billion in our

i'm carl quintanilla with morgan brennan at the new york stock exchange david faber is at disney studiosifornia, after a whirlwind hour talking not only to bob iger exclusively, but nelson peltz, we'll get to more on that. dow up 224 on day with corporate results which we'll get to, david, but disney, of course, is the lead >> yeah. you know, listen, the stock up not quite as much as it was in the early going or even yesterday the street embracing $ $5.5 billion in cost cutting at the company and what that will mean $3 billion in content that's nonsports. so many things to talk with bob iger amazingly enough as long as we went, it feels like there are still questions that remain unanswered, including in some ways, you know, all right, you're going to cut as much as $3 billion from what you're spending on direct to consumer, can it be as robust a service? there has been an embrace of the cost cutting going on there, the focus on generating more cash, on getting direct to consumer, to profitability in 2024 as they have vowed to do, moving away from subprofits and then that unexpected news

i'm carl quintanilla with morgan brennan and david faber live at post nine of the new york stock exchange today whether it's the data we just got, the earnings from f.a.a.n.g. last night, the jobs number at 517 k, unemployment at a 50-year low. >> so much we're 30 minutes into the trading session. here are some of the big movers we are watching to kick off this hour starting with starbucks, under pressure after falling short of earnings expectations. this despite resilience in the u.s. with higher coffee prices it's the weakness in china amid covid lockdowns that are to blame. the coffee chain's second largest market shares down 4% another name sliding, qualcomm, mixed results and weak guidance as the company navigates weak demand for smartphones, but an excess amount of supply. you can see the shares are down about 1% they're down around 25% over the past 12 months finally nordstrom, those shares are surging on a report that activist investor ryan cohen is taking a stake in the retailer the report says that cohen was chairman of gamestop will push for changing to nordstrom's board. those

sunday and expects to recover it officials said there were no indications of collateral damage morgan brennanth more if it's flying around and people aren't on it -- people can be on it, but you cover this stuff you and phil lebeau must fight a little about some things i guess the defense area is more your -- >> that's my beat, joe that's right so here's my headline for you, four objects, eight days, unknown origins. unprecedented response the u.s. fighter jet shot down that unidentified object yesterday afternoon. it was the fourth in eight days and the latest military strike over american air space for which pentagon officials say they believe there is a no peacetime precedent. so here's what we do now the three objects shot down friday, saturday, sunday over alaska, lake huron were much smaller in size, difference in appearance and flew at lower altitudes. they're not consistent with a fleet of chinese aerial balloons that officials say have targeted more than 40 countries origins of the three latest still unknown. norad's commander not ruling out ufo's or extraterrestrials side winder mis