>> one of the most important things, outperforming u.p.s. in the market.an a year ago. keeping a watch on this will be the call of any commentary on new business. fedex announced the rate increase next year and surcharges for this holiday season. comments about winning business from u.p.s. estimating that they lost over 1 million packages during those negotiations. any volume from fedex freight, the largest carrier in the nation. the influx of volume in both areas at higher prices will give margins a boost. evercore raised the estimates for fedex, they could also raise theirs. >> thank you very much for that. what are your expectations here? >> this management has not been shy about calling out the macro challenges when they see them gold positions in the past quarters. i would like to hear the characterization of the macro that will pass along fuel costs. what is that doing to demand? the ernie expectations have come down pretty significantly in loss several months. the market kind of expects them for the latest print. >> let's turn back to the markets. n

it continues to outperform rival u.p.s. year to date.announced rate increases starting next year this quarter revenues are forecast to fall by 6% while e southeast is expected to grow. margin yield is 6% compared to 5.3% from last year. the major metric to watch is express revenue and margins, which is forecast to be 2.5% express is about 50% of revenue as well. >>> we're also looking out for any commentary from customer wins on u.p.s. and teamster negotiations and also yellow >>> time now for a check on more of this morning's headlines outside the world of the markets and your money nbc's jessica layton is in new york with the very latest. good morning. >> hey, frank, good morning to you. in a new filing lawyers for hunter biden say he will plead not guilty to felony gun charges. he was indicted last week by a grand jury on three counts of using a gun while in possession of narcotics biden's attorney wrote his client is not looking for any special treatment here he just wants to minimize the burden on government resources that an in-per

u.p.s. >> meaning what with for which stock you recommend? >> thanks, becky. we have been outperforming on fedex and u.p.s. we think margins at u.p.s. will be under pressure for the second half of the year. then fedex as i said, we don't see that same margin pressure. $280 price on fedex. >> it is not you like the union shop. i will not connect those dots. i don't want to get canceled. helane, thank you. >> thanks, joe. >>> when we come back, disney ceo bob iger said the company will quiet the noise around culture wars. we have the details on what that means after this break. >>> a programming note for you. i'll moderate a session at the economic club of new york with the japanese primary fumio kishida. we will talk about the demographics in japan and navigating the negative interest rate policy. we will have the latest on "squawk box" tomorrow morning. >> announcer: this cnbc program is sponsored by ibm. ibm. let's create. can you trust the results? your business doesn't just need ai, it needs the right ai for your business. introducing watsonx a platform designed to multiply output by